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Wed, 07 Jan 1998
Nepotism and transparency
Nepotism and transparency On the front page of the Dec. 31 edition of The Jakarta Post Minister of Manpower Abdul Latief strongly denied allegations of financial impropriety saying "I'll be damned. I'm a tycoon...
Wed, 07 Jan 1998
Body identified at last
Body identified at last JAKARTA (JP): The body sent to the Cipto Mangunkusumo General Hospital Sunday was identified yesterday as Darwin B. Ismail by relatives who recognized his body on television.Darwin, 38, a resident of Jl. Jati Pinggir, Petamburan in Central Jakarta, was found dead on Jl.
Wed, 07 Jan 1998
Swiss airline offers Irian help
Swiss airline offers Irian help JAYAPURA, Irian Jaya: A Swiss airline, Heli Swiss, has offered its assistance to Irian Jaya Governor J. Pattipi to transport food to people living in the province's remote areas which are suffering from food shortages.
Wed, 07 Jan 1998
Where to go in Jakarta:
Where to go in Jakarta:Exhibitions * Photo Exhibition: 100 old photos from Indonesia and Singapore, at Galeri TC (Twilight Cafe), Jl. Kemang Raya No.24A South Jakarta, Sunday to Thursday, 11:30 a.m. to 12 p.m., Friday to Saturday 11:30 a.m. to 2 a.m., until Jan. 29.
Wed, 07 Jan 1998
Peace returns to Bandung after street vendors' riot
Peace returns to Bandung after street vendors' riot BANDUNG, West Java (JP): Things returned to normal in the city here yesterday after a brief melee a day earlier which saw hundreds of shops damaged by rampaging vendors.Rocks and debris which had littered Jl.
Wed, 07 Jan 1998
PDI set to drop its motion on human rights
PDI set to drop its motion on human rights JAKARTA (JP): The Indonesian Democratic Party (PDI) looks set to drop its bid for a separate and powerful People's Consultative Assembly decree on human rights, leaving fellow minority faction the United Development Party (PPP) alone to battle it out for...
Wed, 07 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaWednesdayMaghrib 6.15 p.m.ThursdayImsak 4:13 a.m.Subuh 4.23 a.m.
Wed, 07 Jan 1998
Government to tighten spending
Government to tighten spending JAKARTA (JP): The government will tighten spending in the next fiscal year, but will likely refrain from hiking fuel prices.Total government expenditures in fiscal year 1998/1999 starting April 1 will still rise by a hefty 32 percent to Rp 133.
Wed, 07 Jan 1998
Lack of trust worsens economic crisis
Lack of trust worsens economic crisisBy Asip Agus Hasani YOGYAKARTA (JP): Many people have questioned why the Indonesian rupiah continues to wane against the U.S. dollar although the government has assured it is pursuing the appropriate economic policies.
Wed, 07 Jan 1998
Lampung misses resettlement target
Lampung misses resettlement target BANDAR LAMPUNG, Lampung: The local office of the Ministry of Transmigration failed to achieve its target to resettle 2,000 forest squatter families last year due to the ongoing economic crisis.The head of the ministry's provincial office, P.
Wed, 07 Jan 1998
S'pore company buys Indonesian plants
S'pore company buys Indonesian plants SINGAPORE (Reuters): Singapore Power Ltd (SP) said yesterday its joint venture company had paid US$349 million to acquire power plants from Asia Pulp & Paper Co.SP said in a statement that Asia Independent Power (BVI) Ltd (AIP), would acquire some of the power...
Wed, 07 Jan 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 6, 1998: Buying Selling Rp Rp U.S dollar 6,900.00 7,500.00Austrian shilling 531.00 603.00Australian dollar 4,446.80 4,720.00Belgian franc 184.20 198.50Canadian dollar 4,912.60 5,182.70Swiss franc 4,727.
Wed, 07 Jan 1998
Inflation hits double digit
Inflation hits double digit JAKARTA (JP): Indonesia's annual inflation rate was 11.05 percent last year, the first double-digit inflation rate since 1983.The Central Bureau of Statistics said yesterday that the high annual inflation rate in 1997 was attributed to the 2.
Wed, 07 Jan 1998
Westcoast, Duke buy RI plant
Westcoast, Duke buy RI plant VANCOUVER (Reuters): A consortium led by units of Westcoast Energy Inc and Duke Energy Corp has acquired a 195-megawatt power plant and transmission facilities under construction in Irian Jaya, Indonesia, Westcoast said yesterday.
Wed, 07 Jan 1998
Legislature told to avoid tours
Legislature told to avoid tours KUPANG, East Nusa Tenggara: Governor Herman Musakabe has asked the provincial legislature not to include comparative studies abroad on its agenda because they are too costly.
Wed, 07 Jan 1998
230 elementary school buildings need renovation
230 elementary school buildings need renovation JAKARTA (JP): At least 230 of the 2,593 public elementary school buildings in Jakarta are in disrepair and need renovating, an official said yesterday."The 230 buildings are mostly in a shabby condition because of a lack of maintenance or due to being...
Wed, 07 Jan 1998
SE Asian currencies plunge to new lows
SE Asian currencies plunge to new lows SINGAPORE (Reuters): Asian financial markets took another heavy battering yesterday as U.S. funds cut asset allocations and companies desperate to hedge their exposures fled regional currencies for the rampant U.S. dollar.
Wed, 07 Jan 1998
Japan's foreign reserves fall
Japan's foreign reserves fall TOKYO (AFP): Japan's foreign exchange reserves declined US$7.59 billion in December to $220.8 billion, falling for the first time since July 1997, the finance ministry said yesterday.
Wed, 07 Jan 1998
Rupiah set at 4,000 to U.S. dollar in state budget
Rupiah set at 4,000 to U.S. dollar in state budget JAKARTA (JP): The government set the U.S. dollar-rupiah exchange rate at 4,000 in its calculations for the 1998/1999 state budget.President Soeharto said last night that the government did not want to see the rupiah too strong, thus weakening the...
Wed, 07 Jan 1998
Draft budget praised as turning point to crisis
Draft budget praised as turning point to crisis JAKARTA (JP): The government's draft 1998/1999 budget and President Soeharto's speech got a nod of approval last night as many said it could serve as a turning point to the country's economic woes.
Wed, 07 Jan 1998
1,200 workers go on strike
1,200 workers go on strike TANGERANG (JP): About 1,200 workers of a zipper company went on strike yesterday, protesting the management's plan to cut their Idul Fitri bonuses by 10 percent.The workers gathered outside the PT Fajarindo Poliman Zipper factory and security guards were forced to move...
Wed, 07 Jan 1998
Soedradjad misses briefing
Soedradjad misses briefing JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono missed the 1998/1999 budget briefing to journalists at the Ministry of Information office.Coordinating Minister for Economy and Finance Saleh Afiff and Minister/State Secretary Moerdiono felt it necessary to...
Wed, 07 Jan 1998
Cerdas and Ivan win berths to Europe
Cerdas and Ivan win berths to Europe JAKARTA (JP): International Masters Cerdas Barus and Ivan Situru have won tickets for a European chess tour together with three other players.Cerdas and Ivan won the berths after coming first and second respectively in the Bali Jeff chess tournament that...
Wed, 07 Jan 1998
Ansett to serve Brisbane-Bali route
Ansett to serve Brisbane-Bali route JAKARTA (JP): Australian private airline Ansett International will start its first international operations from Brisbane, with a weekly Brisbane-Bali nonstop service on Saturday nights starting April 4, the airline said yesterday.
Wed, 07 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 6, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 825 0 0 AHAP Insurance 500 0 0 Alter Abadi 450 0 0 Alumindo Light Metal 325 -25 76,000 Alumindo Perkasa...
Wed, 07 Jan 1998
Pertamina to continue restructuring
Pertamina to continue restructuring JAKARTA (JP): The newly installed president of state-owned oil and gas company Pertamina, Soegianto, pledged yesterday to continue and give priority to the company's ongoing restructuring program.
Wed, 07 Jan 1998
Harmoko tells nation not to forget old spirit
Harmoko tells nation not to forget old spirit JAKARTA (JP): House Speaker Harmoko urged the nation yesterday to regain its old fighting spirit to survive future challenges stemming from the current economic situation.
Wed, 07 Jan 1998
Indonesia to enjoy $1b in balance of payments
Indonesia to enjoy $1b in balance of payments JAKARTA (JP): Indonesia, despite a loss in investors' confidence in its economy, expects to enjoy a surplus of US$1.07 billion in the 1998/1999 balance of payments.
Wed, 07 Jan 1998
Depositors' money at liquidated banks
Depositors' money at liquidated banksFrom Bisnis IndonesiaI think the blocking of depositors' money at liquidated banks is no small problem.The money is the result of years of saving. Some of the deposits may come from a lump sum retirement payment in which the bank interest is used by the retired...
Wed, 07 Jan 1998
Greed and economic turmoil
Greed and economic turmoil I salute Pak Soegih Arto for his recent letter published in the Dec. 30 edition of The Jakarta Post, to boost our fighting spirit. We need such reminding in order to not let ourselves become too downcast.
Wed, 07 Jan 1998
Govt urged not to raise minimum wage this year
Govt urged not to raise minimum wage this year JAKARTA (JP): Industry associations urged the government not to raise the minimum daily wage, but said if it could not be avoided the increase should be circumvented from the monthly fee companies have to pay to the state workers insurance company PT...
Wed, 07 Jan 1998
Economists say state budget too optimistic
Economists say state budget too optimistic JAKARTA (JP): The 32.1 percent increase in the 1998/1999 draft state budget unveiled by President Soeharto last night is unrealistic in the current economic situation, according to economists.
Tue, 06 Jan 1998
Bank Jakarta requests operating license as legal battle seesaws
Bank Jakarta requests operating license as legal battle seesaws JAKARTA (JP): Bank Jakarta submitted yesterday a request for an operational license despite a letter from the State Administrative High Court ordering that a by-verdict, which allowed the closed bank to reopen, to be disregarded.
Tue, 06 Jan 1998
Where to go in Jakarta:
Where to go in Jakarta:Exhibitions * Photo Exhibition: 100 old photos from Indonesia and Singapore, at Galeri TC (Twilight Cafe), Jl. Kemang Raya No.24A South Jakarta, Sunday to Thursday, 11:30 a.m. to 12 p.m., Friday to Saturday 11:30 a.m. to 2 a.m., until Jan. 29.
Tue, 06 Jan 1998
State bank mergers very good for the country
State bank mergers very good for the country The government has announced a plan to merge four state banks while inviting foreign capital participation. Economist Kwik Kian Gie discusses its impact on the country's banking industry.
Tue, 06 Jan 1998
Mother of two commits suicide
Mother of two commits suicide JAKARTA (JP): A mother of two hanged herself from a door lintel in the bedroom of her North Jakarta house, police said yesterday.City police spokesman Lt. Col. E. Aritonang said the body of the 31-year-old woman, Rohani, was found about 8 p.m.
Tue, 06 Jan 1998
Workers protest unfair severance pay
Workers protest unfair severance pay JAKARTA (JP): A deputation of 217 workers dismissed by construction company PT Jaya Konstruksi Manggala Pratama went to the City Council yesterday to protest their severance pay.
Tue, 06 Jan 1998
Reforestation funds will be included in state budget
Reforestation funds will be included in state budget JAKARTA (JP): Reforestation funds will be included in the state budget for the 1998/1999 fiscal year, which will be unveiled by President Soeharto tonight, a minister said yesterday.
Tue, 06 Jan 1998
Agribusiness is 'more attractive'
Agribusiness is 'more attractive' JAKARTA (JP): The agribusiness sector is expected to be more attractive to investors this year as the sharp depreciation of the rupiah will make farm products more competitive in overseas markets, an official says.
Tue, 06 Jan 1998
BZW to sell Asian unit
BZW to sell Asian unit HONG KONG (AFP): British-owned investment bank BZW Asia Ltd. will announce this week an agreement to sell its Asian securities arm to Credit Suisse First Boston, a company official said yesterday.The official announcement of the sale would be made Friday, he said.
Tue, 06 Jan 1998
Dollar demand sends Asian currencies plummeting
Dollar demand sends Asian currencies plummeting SINGAPORE (Reuters): Asian currencies were pounded lower yesterday, the first serious trading day of the New Year, by corporate dollar demand and nagging regional financial woes.
Tue, 06 Jan 1998
Many unleaded gas users unaware of benefits
Many unleaded gas users unaware of benefitsBy Stevie Emilia JAKARTA (JP): Despite all the clamor from the recent international talks in Kyoto on reducing pollutants, many users of unleaded gasoline here remain ignorant of its environmental benefits.
Tue, 06 Jan 1998
Malaysia eyes farming as economic crisis rolls on
Malaysia eyes farming as economic crisis rolls onBy Reme Ahmad KUALA LUMPUR (Reuters): As Asia's economic crisis rolls on, the country which has launched satellites and aims to be home to state-of-the-art multimedia technology is advising its citizens to return to the soil.
Tue, 06 Jan 1998
Assembly resumes to settle key matters
Assembly resumes to settle key matters JAKARTA (JP): The People's Consultative Assembly resumed its session after two weeks of recess yesterday, hoping to resolve three crucial matters in the remaining 17 days.The Assembly's ad hoc committee chair in charge of the State Policy Guidelines R.
Tue, 06 Jan 1998
Severino installed as new ASEAN secretary-general
Severino installed as new ASEAN secretary-general JAKARTA (JP): Rodolfo C. Severino took over the reigns as Secretary-General of the Association of Southeast Asian Nations (ASEAN) yesterday saying that the group faces new challenges never before seen in its 30-year history.
Tue, 06 Jan 1998
Teachers take part in language course
Teachers take part in language course UJUNGPANDANG, South Sulawesi: Twenty-nine Australian teachers are taking part in a short course at the Institute of Teaching Training (IKIP) in Ujungpandang, an official said yesterday.
Tue, 06 Jan 1998
Asian markets tumble on weak regional currencies
Asian markets tumble on weak regional currencies HONG KONG (AFP): Asian stock markets tumbled yesterday in a sell-off prompted by fresh weakness in ailing regional currencies at the start of the first full week of trading in the new year.
Tue, 06 Jan 1998
Shuttlers want more openness in sponsorship
Shuttlers want more openness in sponsorship JAKARTA (JP): Better communications and transparency in sponsorship contracts were the main issues at an informal meeting between the newly elected chairman of the Badminton Association of Indonesia, Subagyo Hadisiswoyo, and national shuttlers at the...
Tue, 06 Jan 1998
Few options remain for national economic cure
Few options remain for national economic cureBy Wimar Witoelar JAKARTA (JP): If you take a look, you will see there is a long downhill slope ahead for the Indonesian economy. Currency traders would not be surprised if the rupiah falls to 7,000 per U.S.
Tue, 06 Jan 1998
State banks reformed
State banks reformed The reform of the state banking industry -- the second big wave of reform in the banking sector after the Nov. 1, 1997 closure of 16 insolvent private banks -- contains several major strategic components.