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Thu, 29 Jan 1998
Kupang wants five-day week
Kupang wants five-day week JAKARTA (JP): Kupang regency chief Paul Lawa Rihi has come up with a novel idea to make up for the government's decision to freeze the pay of his employees: work fewer hours.Paul proposed a return to the five-day working week, which was tried briefly but abandoned last...
Thu, 29 Jan 1998
Military remains on alert for riots in C. Java towns
Military remains on alert for riots in C. Java towns JAKARTA (JP): Soldiers and police remained on alert yesterday in anticipation of a possible spread of unrest in Central Java's Rembang regency, following two minor disturbances in the regency's coastal towns of Kragan and Sarang earlier this week.
Thu, 29 Jan 1998
Plywood cartel goes
Plywood cartel goes The plywood cartel will end on Monday provided politically well connected businesspeople cannot have their way and revive it in another form. Minister of Industry and Trade Tunky Ariwibowo has issued four rulings which abolish the plywood joint marketing boards of the Indonesian...
Thu, 29 Jan 1998
Telkom compensation for projects likely
Telkom compensation for projects likely CIREBON, West Java (JP): PT Telkom president Asman Akhir Nasution said here yesterday his company would consider compensating the price escalation resulting from the currency crisis to contractors of ongoing projects.
Thu, 29 Jan 1998
'Sri' movie may signal coming of artistic wave
'Sri' movie may signal coming of artistic waveBy Rayya Makarim JAKARTA (JP): Amid Hollywood blockbusters, trendy sinetron teleserials and the far from resolved monetary crisis, this year is surprising us with yet another awakening of the Indonesian film industry.
Thu, 29 Jan 1998
Foreigners still reluctant to enter property sector
Foreigners still reluctant to enter property sector JAKARTA (JP): Despite the already bargain level in Indonesia's property sector, overseas investors remained hesitant to enter into the sector, analysts said yesterday.
Thu, 29 Jan 1998
RI team named for Tour de Langkawi
RI team named for Tour de Langkawi JAKARTA (JP): The West Java chapter of the Indonesian Cycling Association has announced the six cyclists who will represent the country in the Tour de Langkawi in Malaysia next month.
Thu, 29 Jan 1998
Retailers may survive for another six months
Retailers may survive for another six months JAKARTA (JP): The country's large retailers would manage to survive the economic crisis for another six months, but many would go bankrupt if the situation kept worsening, Association of Indonesian Retailers (Aprindo) executive director Kustarjono...
Wed, 28 Jan 1998
Futures commodity trading may start next year
Futures commodity trading may start next year JAKARTA (JP): The government has begun working on the implementation of a law on the futures commodity exchange, which is expected to start operating next year, an official said yesterday.
Wed, 28 Jan 1998
Program for the rehabilitation of Indonesian banks
Program for the rehabilitation of Indonesian banks JAKARTA (JP): The following is the full text of a statement on the Indonesian banking reform issued by the government here yesterday.In order to restore the confidence of depositors and creditors -- domestic and foreign -- in the Indonesian banking...
Wed, 28 Jan 1998
Two people die in diarrhea outbreak
Two people die in diarrhea outbreak KUPANG, East Nusa Tenggara: Two people have died and 865 others have been hospitalized in the latest diarrhea outbreak in the Sumba Barat regency of the province's island of Sumba.
Wed, 28 Jan 1998
Producers allege CPO smuggling
Producers allege CPO smuggling JAKARTA (JP): Crude palm oil (CPO) producers in North Sumatra have urged the Attorney General's Office to investigate alleged CPO smuggling by PT Bukit Kapur Reksa through the Riau seaport of Dumai.
Wed, 28 Jan 1998
Can 'Asian values' help Asian economies out of crux?
Can 'Asian values' help Asian economies out of crux?By Muhadi Sugiono YOGYAKARTA (JP): The Asian economic crisis has once again brought the debate over "Asian values" to the fore.Previously, as Asian countries enjoyed high levels of economic growth, many believed that the Asian economic "miracle"...
Wed, 28 Jan 1998
Freeze to debt servicing proposed
Freeze to debt servicing proposed JAKARTA (JP): The government proposed yesterday a temporary halt in servicing Indonesia's huge foreign corporate debt in a bid to ease pressure on the beleaguered rupiah to allow time for negotiations.
Wed, 28 Jan 1998
PWI urges publications not to dismiss journalists
PWI urges publications not to dismiss journalists JAKARTA (JP): Chairman of the Indonesian Association of Journalists (PWI) Sofjan Lubis asked all publications yesterday not to dismiss employees as a way of surviving the monetary crisis.
Wed, 28 Jan 1998
The Idul Fitri spirit
The Idul Fitri spirit Idul Fitri, which falls either tomorrow or Friday, is always regarded as a time to rejoice. It is a most appropriate way to mark the end of the Ramadhan fasting month, during which Moslems are required to control their emotions and exercise restraint as a way of bringing...
Wed, 28 Jan 1998
ABRI donates 200 tons of rice
ABRI donates 200 tons of rice SURABAYA, East Java: The Armed Forces (ABRI) here have donated 200 tons of rice to 33 drought-stricken villages in the province.East Java Military Chief Maj. Gen. Djaja Suparman told reporters here Monday that the contribution showed ABRI's concern about the plight of...
Wed, 28 Jan 1998
Amien Rais warns against violent political reform
Amien Rais warns against violent political reform JAKARTA (JP): Politician Amien Rais, who is running for the 1998/2003 presidency, reiterated yesterday that political reform was the answer to the ongoing monetary crisis but warned against sudden and violent state leadership succession.
Wed, 28 Jan 1998
RI's GDRs jump on rupiah's rebound
RI's GDRs jump on rupiah's rebound LONDON (Reuters): Indonesian global depositary receipts (GDRs) jumped yesterday as the rupiah gained on repeated intervention, news of a de-facto debt moratorium and plans to restructure the banking system.
Wed, 28 Jan 1998
Govt to impose quota on log export
Govt to impose quota on log export JAKARTA (JP): The government will impose a quota on the export of logs, sawn timber and rattan to guarantee a sufficient supply for domestic demand, a minister said yesterday.
Wed, 28 Jan 1998
S&P lowers Indonesian currency ratings
S&P lowers Indonesian currency ratings HONG KONG (AFP): U.S. ratings agency Standard and Poor's yesterday downgraded its Indonesia long-term foreign currency rating to B from BB, and its local currency rating to BB- from BBB.
Wed, 28 Jan 1998
Grand Prix calendar changed
Grand Prix calendar changed PARIS (AFP): The Indonesian and Portuguese grands prix have been removed from this year's calendar, the International Motorcycling Federation (FIM) announced Monday.The Indonesian race, initially planned for April 19, will be replaced by the Malaysian Grand Prix, which...
Wed, 28 Jan 1998
Estimate on bank exposure to Indonesia
Estimate on bank exposure to Indonesia mid-1997 end-1996 mid-1996 ---------------------------------------------------------- Japan 23.153 22.035 21.622 Germany 5.610 5.508 4.843 France 4.787 4.463 3.652 United States 4.591 5.279 3.551 United Kingdom 4.332 3.834 3.260 Belgium 2.870 2.982 2.
Wed, 28 Jan 1998
Idul Fitri likely to fall tomorrow: Scholars
Idul Fitri likely to fall tomorrow: Scholars SURABAYA (JP): Indonesia's largest Moslem organization Nahdlatul Ulama (NU) may join Muhammadiyah members celebrating Idul Fitri tomorrow rather than Friday as the government calendar says.
Wed, 28 Jan 1998
No roar from Asian retailers as year of Tiger nears
No roar from Asian retailers as year of Tiger nearsBy Angela Tan SINGAPORE (Reuters): The Year of the Tiger will prove vicious for Asia's retailers, with potential to leave a bloodbath among the less savvy, analysts and shopowners say.
Wed, 28 Jan 1998
Where to go in Surabaya:
Where to go in Surabaya:Music and Entertainment * Mercure Grand Hotel, Jl. Raya Kupang Indah: Pasar Senggol with traditional music - keroncong or langgam, every Wednesday night. * Hyatt Regency Surabaya, Jl. Jend.
Wed, 28 Jan 1998
Century old mummy found
Century old mummy found SAMARINDA, East Kalimantan: A mummy of a Dayak tribal chief thought to be a century old was found deep in the wilderness earlier this month by villagers of Tanjung Soke of Kutai regency.
Wed, 28 Jan 1998
Teenage burned in attempted suicide
Teenage burned in attempted suicide JAKARTA (JP): A 16-year-old girl from Tambun district in Bekasi, West Java suffered severe burns during a suicide attempt, city police spokesman Lt. Col. E. Aritonang said on Monday.
Wed, 28 Jan 1998
Asia-Pacific markets look to holiday respite
Asia-Pacific markets look to holiday respite HONG KONG (AFP): Most Asia-Pacific stock markets prepared for a Chinese New Year respite yesterday, as Indonesia unveiled crucial banking reforms and sought to save its debt-ridden corporate sector from disaster.
Wed, 28 Jan 1998
Rupiah gains ground on debt, banking reforms
Rupiah gains ground on debt, banking reforms JAKARTA (JP): The rupiah strengthened to 11,000 to the U.S. dollar yesterday on banking reforms, new measures to resolve corporate debt and market intervention by Bank Indonesia.
Wed, 28 Jan 1998
Thais rule out debt delay
Thais rule out debt delay BANGKOK (AFP): The central Bank of Thailand (BoT) yesterday ruled out a Thai debt moratorium following Indonesia's announcement of plans to stall debt repayments by its corporate borrowers.
Wed, 28 Jan 1998
Crisis also affects Britain
Crisis also affects Britain LONDON (Reuters): The British government might be left with a bill of more than three billion pounds sterling used to underwrite loans to Asian countries if the Pacific Rim nations default on their debts, the Independent newspaper said.
Wed, 28 Jan 1998
Pertamina looks to halt import of crude oil
Pertamina looks to halt import of crude oil SINGAPORE (Reuters): Indonesian state-oil firm Pertamina is holding talks with suppliers to halt outstanding imports of crude and products in February, an affiliate source said yesterday.
Wed, 28 Jan 1998
Economic reform without misery?
Economic reform without misery?By Omar Halim This is the first of two articles examining the prospects for Indonesia's economy in light of the signing of a reinforced economic program mid this month by President Soeharto and the International Monetary Fund (IMF) managing director Michel Camdessus.
Wed, 28 Jan 1998
Three-in-one ruling may go after general session
Three-in-one ruling may go after general session JAKARTA (JP): The three-in-one traffic regulation for Jakarta's main thoroughfares is to be disbanded after the March general session of the People's Consultative Assembly (MPR), Governor Sutiyoso announced yesterday.
Wed, 28 Jan 1998
Citra Marga holding food fair for poor
Citra Marga holding food fair for poor JAKARTA (JP): Tollroad construction firm PT Citra Marga Nusaphala Persada, a subsidiary of the Citra Group owned by Siti Hardiyanti Rukmana, is holding a fair of cheap staple foods at eight of the city's subdistricts considered as poor areas.
Wed, 28 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaWednesdayMaghrib 6:20 p.m.ThursdayImsak 4:23 a.m.Subuh 4:33 a.m.
Wed, 28 Jan 1998
Holiday exodus has peaked, but its not over yet
Holiday exodus has peaked, but its not over yet JAKARTA (JP): Predictions that the peak of the holiday exodus would fall yesterday -- three days before Idul Fitri -- turned out to be incorrect as 180,000 people had left the city Sunday.
Wed, 28 Jan 1998
Govt guarantees bank deposits
Govt guarantees bank deposits JAKARTA (JP): The government announced massive banking reforms yesterday to restore confidence in the system, guaranteeing the embattled banking sector's deposits and debts and allowing foreign ownership in local banks.
Wed, 28 Jan 1998
No misuse of workers' funds, BPKP says
No misuse of workers' funds, BPKP says JAKARTA (JP): The Development Finance Comptroller (BPKP) has cleared Minister of Manpower Abdul Latief of any impropriety in the use of state-owned social security company PT Jamsostek's funds.
Wed, 28 Jan 1998
RI debt problem will take a year to solve: Banks
RI debt problem will take a year to solve: Banks SINGAPORE (Agencies): Indonesia's corporate debt problem would take at least a year to solve and not all creditors will be repaid, a spokesman for a committee of creditor banks said in Singapore yesterday.
Wed, 28 Jan 1998
Moslem coalition launches campaign to help the poor
Moslem coalition launches campaign to help the poor JAKARTA (JP): A coalition of Moslem organizations launched a public service campaign yesterday to help alleviate people's suffering during the monetary crisis.
Wed, 28 Jan 1998
Rates for tax payment
Rates for tax payment JAKARTA (JP): The government announced yesterday new official conversion rates as the basis for payment of import duty, value added tax on goods and services, sales tax on luxury goods, export tax and income tax.The new conversion rates will be valid for one week, from Jan.
Wed, 28 Jan 1998
U.S.-RP military deal delay criticized
U.S.-RP military deal delay criticized MANILA (AFP): A member of a US Congress mission expressed disappointment yesterday at a delayed agreement to allow joint military training with the Philippines."I am personally disappointed that the Philippines has been slow in ratifying the agreement with the...
Wed, 28 Jan 1998
Analysts, bankers, businesspeople laud banking reform
Analysts, bankers, businesspeople laud banking reform JAKARTA (JP): Analyst, bankers and Indonesian businesspeople commended yesterday the government's congenial measure to fortify the country's frail banking sector, indicating such a move was long overdue.
Wed, 28 Jan 1998
Where to go in Bandung:
Where to go in Bandung:Exhibition * Ramadhan Exhibition featuring Handicraft, Fashion, Food, at the Lobby, Preanger Aerowisata Bandung Hotel, Jl. Asia Afrika No. 81, Central Bandung, 10 a.m. to 8 p.m., until Jan. 29.
Wed, 28 Jan 1998
Arresting the rupiah's drop
Arresting the rupiah's drop The new bold measures on corporate debts and bank restructuring announced by the Indonesian government yesterday directly address the main causes of the wild volatility and downward spiral of the rupiah's exchange rate.
Wed, 28 Jan 1998
Transport strike hits more RP cities
Transport strike hits more RP cities CEBU, Philippines (Reuters): A new wave of transport strikes crippled Cebu, a major central Philippine city, yesterday but officials used dump trucks to ferry workers and lessen the impact of the walkouts elsewhere, police said.
Wed, 28 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 27, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 350 0 0 Alter Abadi 225 50 20,000 Alumindo Light Metal 250 25 79,000 Alumindo...
Wed, 28 Jan 1998
Probe into gold bullion company widened after arrest
Probe into gold bullion company widened after arrest JAKARTA (JP): Police will widen their probe into PT Pan Bullion Prima, a private gold bullion trading company, after the executive director was named a suspect.National Police spokesman Brig. Gen.