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Fri, 16 Jan 1998
Profit-taking hits stock markets
Profit-taking hits stock markets HONG KONG (AFP): Investors were quick to lock in profits yesterday on two days of handsome gains, cutting short a rally on Asia-Pacific stock markets.The profit-taking overshadowed optimism sparked by a new agreement between Indonesia and the International Monetary...
Fri, 16 Jan 1998
'Love rupiah' drive (2)
'Love rupiah' drive (2)From MerdekaI welcome the "Love rupiah" drive despite the half-hearted and symbolic impression it generates. The business tycoons who were expected to come with huge amounts of dollars to be changed into rupiah, have so far only brought tens or hundreds of thousands dollars,...
Fri, 16 Jan 1998
Man commits suicide in hotel
Man commits suicide in hotel JAKARTA (JP): A 27-year-old man is believed to have committed suicide by drinking insecticide in a hotel on Jl. Proklamasi in Central Jakarta yesterday afternoon, police have said.First Lt. T.H.
Fri, 16 Jan 1998
Soeharto forms special team to monitor reform
Soeharto forms special team to monitor reform JAKARTA (JP): President Soeharto formed a special team yesterday to monitor the implementation of the massive economic reform program agreed by the International Monetary Fund (IMF) in exchange for a multibillion-dollar bailout package.
Fri, 16 Jan 1998
Soeharto unveils sweeping reforms
Soeharto unveils sweeping reforms JAKARTA (JP): President Soeharto announced a series of drastic economic measures yesterday which are expected to lift the nation out of its present predicament.But he warned that the nation must brace for a difficult time before things improved, predicting zero...
Fri, 16 Jan 1998
City to hire only 122 new teachers
City to hire only 122 new teachers JAKARTA (JP): The city education and teaching office will hire only 122 new elementary school teachers this academic year even though it has been estimated that Jakarta currently needs 2,300 additional teachers, an official has said.
Fri, 16 Jan 1998
Shoot on the spot, says police chief
Shoot on the spot, says police chief BANDAR LAMPUNG, Lampung: Provincial police chief Col. Gendro B.S. has ordered his members to take a tough stance against criminals, and shoot them on the spot if necessary.
Fri, 16 Jan 1998
Police confiscate 25 kg of gunpowder
Police confiscate 25 kg of gunpowder DEMAK, Central Java: Police confiscated 25 kilograms of gunpowder for the making of firecrackers in a raid Wednesday in Botosengon village, Dempet district, Demak regency.Demak police chief Lt. Col.
Fri, 16 Jan 1998
Tangerang labor projects to begin
Tangerang labor projects to begin TANGERANG (JP): Government-run projects in Tangerang are set to begin Monday and are expected to temporarily employ 73,260 blue-collar workers to ease unemployment problems in the city.Tangerang Mayor H.
Fri, 16 Jan 1998
Fire guts supermarket
Fire guts supermarket JEMBER, East Java: The Sumbermas supermarket on Jl. Sultan Agung was gutted by fire early yesterday, causing billions of rupiah in losses.Antara reported that the fire was discovered at 2.45 a.m.
Fri, 16 Jan 1998
Reforms could turn economy around: IMF
Reforms could turn economy around: IMF JAKARTA (JP): International Monetary Fund managing director Michel Camdessus said yesterday Indonesia had taken decisive steps that, if implemented fully, could turn its economy around.
Fri, 16 Jan 1998
Airlines hit turbulence as Asia's economies plummet
Airlines hit turbulence as Asia's economies plummet HONG KONG (AFP): Asia's financial turmoil is beginning to take its toll on regional airlines, with Cathay Pacific reportedly planning hundreds of lay-offs, Qantas cutting flights and Air France moving its regional headquarters.
Fri, 16 Jan 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 15, 1998: Buying Selling Rp Rp U.S dollar 1 6,500.00 8,500.00Austrian shilling 1 590.20 719.40Australian dollar 1 5,079.00 5,796.80Belgian franc 1 206.30 238.80Canadian dollar 1 5,459.00 6,184.
Fri, 16 Jan 1998
Where to go in Jakarta:
Where to go in Jakarta:Exhibitions * Painting Exhibition: Kumuh by Margono at Galeri Cipta III, Taman Ismail Marzuki Arts Center, Jl. Cikini Raya 73, Central Jakarta, 10 a.m. to 9 p.m., until Jan. 18. * Photo Exhibition: 100 old photos from Indonesia and Singapore, at Galeri TC (Twilight Cafe), Jl.
Fri, 16 Jan 1998
Central bank needs to improve public disclosure mechanism
Central bank needs to improve public disclosure mechanism JAKARTA (JP): Bank Indonesia (BI), the central bank, should be able to find better ways of informing the public about the condition of the country's commercial banks without having to violate the 1992 Banking Law, said a banking analyst...
Fri, 16 Jan 1998
29 entrepreneurs join rupiah drive
29 entrepreneurs join rupiah drive MEDAN, North Sumatra: A group of 29 local businesspeople joined the "Love Rupiah" drive yesterday, contributing Rp 3.3 billion (US$440,000) to the government.The money will be placed in a savings account in a state bank and its interest will be used for charity...
Fri, 16 Jan 1998
RI is not a threat: Howard
RI is not a threat: Howard SYDNEY (Reuters): Australian Prime Minister John Howard said on Thursday that the economic difficulties in Indonesia did not represent an immediate concern for Australia."I don't think there is any cause at all for any direct immediate concern as far as the Australian...
Fri, 16 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaFridayMaghrib 6:17 p.m.SaturdayImsak 4:18 a.m.Subuh 4:28 a.m.
Fri, 16 Jan 1998
Where to go in Bali:
Where to go in Bali:Music and entertainment * Ramada Bintang Bali, Kuta: - La Brasserie Cafe Restaurant: Crosstil Quatro, daily. - Alun-alun Lounge: The Heart Beat Band, nightly except on Thursday, 8:30 p.m. to 12:30 a.m. - Poolside Open Theater: Tek-Tekan Dance, Saturday.
Fri, 16 Jan 1998
Probe into alleged rape to go on: Aritonang
Probe into alleged rape to go on: Aritonang JAKARTA (JP): A senior police officer has assured relatives of the late Cong Fung Moi, reportedly raped by a Thai monk, that detectives would continue to investigate the allegation even though the victim had died.City Police Spokesman Lt. Col. E.
Fri, 16 Jan 1998
Rain has come to Indonesia but the problems remain
Rain has come to Indonesia but the problems remainBy Jon Corbett and Mary Stockdale SAMARINDA: Well, the rains have finally come. The forest fires in Indonesia will no longer be news in your part of the world.
Fri, 16 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 15, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 700 0 0 AHAP Insurance 450 0 0 Alter Abadi 375 25 1,000 Alumindo Light Metal 250 0 511,500 Alumindo...
Fri, 16 Jan 1998
Government urged to start more labor-intensive schemes
Government urged to start more labor-intensive schemes YOGYAKARTA (JP): The government is being urged to implement labor-intensive programs throughout the country to avoid possible unrest due to the swelling number of unemployed or laid-off laborers.
Fri, 16 Jan 1998
Honest information needed
Honest information neededFrom NeracaIf we observe how circumstances have evolved lately, it seems that Jakartans are inclined to mass panic when the root cause, upon further observation, is uncertain information about the present economic turmoil. Clearly, rumors can easily influence the community.
Fri, 16 Jan 1998
Gajah Mada Plaza gets skating rink
Gajah Mada Plaza gets skating rink JAKARTA (JP): Ponderosa Group, which holds the local franchises for the Pizza Hut and Amigos restaurant chains, and Putt-Putt Golf & Games from the United States, introduced yesterday a facility for ice skating on synthetic ice.
Fri, 16 Jan 1998
Sovereignty at stake in govt-IMF deal, House warns
Sovereignty at stake in govt-IMF deal, House warns JAKARTA (JP): Legislators pledged full support yesterday for the government's commitment for sweeping economic reforms reached after consultation with the International Monetary Fund, but warned that it should not sacrifice the people and the...
Fri, 16 Jan 1998
Tourism bodies ready to lure in Asian tourists
Tourism bodies ready to lure in Asian tourists JAKARTA (JP): The Indonesian Tourism Promotion Board (BPPI), in cooperation with national flag carrier Garuda Indonesia, the Association of Indonesian Tour and Travel Agencies (ASITA) and Singapore Airlines (SIA), launched special travel packages...
Fri, 16 Jan 1998
New monetary and exchange rate policy
New monetary and exchange rate policy JAKARTA (JP): The Letter of Intent on reinforced and strengthened reform measures agreed with the IMF which was signed by President Soeharto yesterday was supplemented with a 13-page appendix which contains a Memorandum on Economic and Financial Policies.
Fri, 16 Jan 1998
Japan supports RI reforms under IMF agreement
Japan supports RI reforms under IMF agreement TOKYO (Agencies): Prime Minister Ryutaro Hashimoto pledged Japan's continued support for Indonesia's economic rehabilitation yesterday following the signing of an agreement linked to a massive IMF-led bailout.
Fri, 16 Jan 1998
Soeharto holds rare media conference
Soeharto holds rare media conference JAKARTA (JP): President Soeharto explained the newly negotiated economic reform package which he will carry out under the supervision of the International Monetary Fund (IMF) in a rare media conference yesterday held in his living room at his residence on Jl.
Fri, 16 Jan 1998
Coping with crisis
Coping with crisis President Soeharto finally demonstrated a full recognition of the economic crisis in which the nation is currently mired by committing himself to a strengthened reform program which will hit hard, among other things, at the business interests of his family members and close...
Fri, 16 Jan 1998
Economists welcome economic reforms
Economists welcome economic reforms JAKARTA (JP): Economists and capital market analysts hailed yesterday's massive economic reform program as an extraordinary measure to restore confidence in the country's economy.They all described the program as a nondiscriminatory bold move.
Fri, 16 Jan 1998
Leading government critics join hands for reforms
Leading government critics join hands for reforms JAKARTA (JP): Some twenty prominent government critics, including Megawati Soekarnoputri, Amien Rais, Ali Sadikin and Supeni, urged the government to make urgent economic and political reforms at a meeting here yesterday.
Fri, 16 Jan 1998
Richard Gere stands on anti-China soapbox in 'Red Corner'
Richard Gere stands on anti-China soapbox in 'Red Corner'By Stevie Emilia JAKARTA (JP): Red Corner is the sort of film that hits you in the gut, invoking a nameless fear of being framed for murder in a foreign country (China, in this case) known for its complicated legal system.
Fri, 16 Jan 1998
PWI upbeat media will survive crisis
PWI upbeat media will survive crisis JAKARTA (JP): Chairman of the Indonesian Association of Journalists (PWI) Sofjan Lubis said yesterday he was confident that despite the economic crisis and the high price of newsprint, no Indonesian publication would close down or go bankrupt.
Fri, 16 Jan 1998
'Love rupiah' drive (1)
'Love rupiah' drive (1) Mrs. Siti Hardiyanti Rukmana (Mbak Tutut), in all earnestness, has started a campaign to make the people of Indonesia love their currency. With much fanfare, ministers, government officials and a few businessmen also "sold" their dollars.
Fri, 16 Jan 1998
S&P downgrades ratings of RI banks
S&P downgrades ratings of RI banks JAKARTA (JP): International ratings agency Standard and Poor's Corp (S&P) yesterday downgraded its ratings on 15 Indonesian banks to reflect the economic deterioration caused by the rupiah's rapid fall.
Fri, 16 Jan 1998
Chilly champ Mia in tough test at Japan Open
Chilly champ Mia in tough test at Japan Open TOKYO (AFP): Indonesian Mia Audina survived an unexpectedly tough challenge from Japan's Kanako Yonekura yesterday as she continued her defense of her women's singles title at the Yonex Japan Open badminton event.
Fri, 16 Jan 1998
The Listening Post
The Listening Post "Building English Skills Through Newspaper + Radio" Produced by American Language Center in cooperation with The Jakarta Post and Radio Sonora FM 100.9 Mhz * Double negatives aren't the most agonizing form of death for the language learner, but you might not be able to convince...
Fri, 16 Jan 1998
Spiritual crisis 'root of problems'
Spiritual crisis 'root of problems' JAKARTA (JP): Minister of Religious Affairs Tarmizi Taher said yesterday that the root of the nation's problems stemmed from a spiritual crisis emanating from pervasive materialism.
Fri, 16 Jan 1998
Coconut oil prices lower in Euro market
Coconut oil prices lower in Euro market LONDON (Reuters): Coconut oil prices closed sharply lower in active trading on the European vegetable oil market during Wednesday afternoon.Prices have fallen a total of $50 to $55 a ton since Indonesia said on Tuesday it would not ban the export of coconut...
Fri, 16 Jan 1998
Property market to remain sluggish
Property market to remain sluggish JAKARTA (JP): The property market would remain sluggish until 1999 as a decrease in demand for space from local companies would continue, a leading property consultancy firm said yesterday.
Fri, 16 Jan 1998
Vehicle thief shot dead
Vehicle thief shot dead JAKARTA (JP): An alleged motorcycle thief has been shot dead by a police patrol in West Jakarta, City Police spokesman Lt. Col. E. Aritonang said yesterday.He said the suspect, identified as Siog bin Karyo, 32, allegedly stole a motorcycle belonging to Powing Cie Kiu, 30, of...
Fri, 16 Jan 1998
Reforms fails to impress rupiah and stocks
Reforms fails to impress rupiah and stocks JAKARTA (JP): A new reform measure announced by the government yesterday failed to impress financial markets yesterday, with both the rupiah and share prices losing ground in moderate trading.
Fri, 16 Jan 1998
Bank Jakarta defied warnings: Lawyers
Bank Jakarta defied warnings: Lawyers JAKARTA (JP): Government lawyers revealed yesterday that the liquidated Bank Jakarta, owned by President Soeharto's half brother Probosutedjo, had been ailing over the past several years and that it had ignored dozens of warning letters prior to its closure in...
Fri, 16 Jan 1998
Economic, political reforms must empower people: NGOs
Economic, political reforms must empower people: NGOs JAKARTA (JP): Three rural-based non-governmental organizations are calling for economic and political reforms that will empower people.Activists of the Bandung-based Akatiga and Jakarta-based Bina Desa and LPIST said that attention should be...
Fri, 16 Jan 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Tom and Jerry Kid 3:10 Children's Dance 3:35 Talk Show: Sambung Rasa 4:00 Regional News 4:30 Student's Quiz: Cerdas Cermat 5:10 Documentary Film: Science World 5:30 TV Drama: Peringatan Allah 6:00 News: Lintasan Berita 6:05...
Fri, 16 Jan 1998
Bank Lippo's Cirrus frustrating
Bank Lippo's Cirrus frustrating I am holder of a Lippo ATM card bearing the Cirrus and Alto logos No.705-15-01676-1. On Jan. 6, I withdrew Rp 400,000 from the Bank Seri Partha ATM with the Cirrus logo at Legian in Bali.
Fri, 16 Jan 1998
Is Japan responsible for the crisis?
Is Japan responsible for the crisis?By Edward Neilan Don't blame Indonesia, blame Japan for irresponsibility in setting precedents for loose lending, corruption patterns. Confidence is the issue in widening Asian financial crisis.
Fri, 16 Jan 1998
Students rally for actions to defuse crisis
Students rally for actions to defuse crisis BOGOR (JP): Dozens of students participated in a rally outside of the Bogor legislative council office Wednesday to urge authorities to take immediate steps to cope with the current economic turmoil.