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Found 1,523 articles

Battered banking sector struggles to survive after crisis

Battered banking sector struggles to survive after crisisBy Reiner S. JAKARTA (JP): Indonesia's once glamorous banking sector has been badly beaten by the 17-month old economic crisis.A total of 26 privately owned banks have been closed down since November 1997.

Mining firm declared bankrupt

Mining firm declared bankrupt JAKARTA (JP): The Jakarta Commercial Court has declared mining firm PT Kutai Kertanegara Prima Coal and an individual credit card holder bankrupt for failure to honor debts.Kutai was ruled bankrupt on Monday for a debt to businessman Hasim Sutiono.

Upheaval 'likely' in next election campaign

Upheaval 'likely' in next election campaign JAKARTA (JP): Observers called on political parties and the public on Tuesday to prepare for the possibility of upheavals in the general election next June, and to reduce tensions during the campaign.

TV stations modify year-end program

TV stations modify year-end program JAKARTA (JP): The fasting month of Ramadhan, Christmas and New Year, which occur concurrently at the end of this year, have forced local TV stations to modify their year-end programming.

UGM assistance for tuition fees

UGM assistance for tuition fees YOGYAKARTA: State-run Gadjah Mada University (UGM) has given partial scholarships to some 4,500 students, who have been affected by the economic crisis, to help pay their tuition fees, rector Ichlasul Amal said on Saturday.

Three dead in recent student brawl toll

Three dead in recent student brawl toll JAKARTA (JP): Three deaths and 41 injured were recorded in 40 student brawls in the capital over the last three months, an official of the city's Social Disturbance Control Center said on Tuesday.

UN envoy Marker meets with Habibie, Alatas on East Timor

UN envoy Marker meets with Habibie, Alatas on East Timor JAKARTA (JP): Visiting UN special envoy Jamsheed Marker said Tuesday he was assured of Indonesia's "firm commitment" to negotiations which have dragged on for years regarding East Timor.He held separate meetings with President B.J.

Accepting Soeharto once again?

Accepting Soeharto once again? The recent visit of Gus Dur (Nahdlatul Ulama chairman Abdurrahman Wahid) to (former president) Soeharto has raised many questions. It could be that such a move could help bring down the heated political temperature.

Transportation loans badly needed

Transportation loans badly needed JAKARTA (JP): An executive of the Organization of Land Transportation Owners (Organda) expressed concern on Monday over the slow disbursement of loans worth Rp 56.3 billion (US$7.5 million) pledged by the government to help the ailing transportation sector.

Where to go in Bali:

Where to go in Bali:Exhibitions * Arts Exhibition: "Movement" Read " Stillness" by Pande Gede Supada, at Sika Contemporary Art Gallery, Jl. Raya Campuhan, Ubud, 9 a.m. to 9 p.m., until Dec. 31. * Arts Exhibition: by Mangu Putra at The Chedi Gallery, Desa Melinggih Kelod, Payangan Gianyar, Ubud...

IMF sees better days ahead for East Asia

IMF sees better days ahead for East Asia WASHINGTON (AFP): The International Monetary Fund (IMF) on Monday said South Korea, Thailand and Malaysia faced brighter prospects in 1999, with their economies either limiting output declines or staging modest recoveries after deep recessions this year.

Sari Husada enters Iran

Sari Husada enters Iran JAKARTA (JP): Publicly listed PT Sari Husada has exported 7.5 million cans of its Nini brand formula to Iran, the company announced on Tuesday.The shipment was formally shipped by the Yogyakarta-based company on Tuesday from the Tanjung Mas Semarang Seaport in Central Java.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 22, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 450 0 15,000 AHAP Insurance 400 0 0 Alter Abadi 300 0 50,000 Alumindo Light Metal 350 0 22,500 Alumindo...

Question to Indovision

Question to Indovision We are very upset and sad because of what happened on Dec. 14.Without any notice, we are now looking at a black screen; the children are crying and are unhappy, they cannot watch TNT or the Discovery channel.

Textile industry has better survival odds

Textile industry has better survival oddsBy Devi M. Asmarani JAKARTA (JP): Despite the extend of the economic crisis, which has hit the country since mid last year, the textile sector is one sector that has a higher chance of survival.The rupiah's nose-dive by almost 70 percent against the U.S.

Idea to establish civilian militia

Idea to establish civilian militiaFrom PelitaFrom their reactions and comments, the majority of the community members show that they are harboring suspicions about the idea of establishing a civilian militia.

Govt suspends subsidy for low-cost housing

Govt suspends subsidy for low-cost housing JAKARTA (JP): The government has suspended subsidies for the purchase of low-cost housing until the economy emerges from the crisis, dealing another blow to embattled property developers.Director General of Finance Susiyati B.

Ramadhan time for Jakarta

Ramadhan time for JakartaWednesdayMaghrib 6:08 p.m.ThursdayImsak 4:03 a.m.Subuh 4.13 a.m.

Group says stamp out New Order's vestiges

Group says stamp out New Order's vestiges JAKARTA (JP): The Petisi 50 Working Group called on the nation on Tuesday to work together to root out vestiges of the New Order political system.The renowned group of longtime government critics defined it as a system which exploited the military and...

Prabowo still an Indonesian citizen: Hasyim

Prabowo still an Indonesian citizen: Hasyim JAKARTA (JP): Businessman Hashim Djojohadikusumo confirmed on Tuesday that Jordanian citizenship had been granted to his elder brother Lt. Gen. (ret) Prabowo Subianto, but said the latter would not relinquish his Indonesian citizenship.

Habibie sued over election

Habibie sued over election PEKANBARU, Riau: A local resident has asked the Riau State Administrative Court to annul the election of Brig. Gen. Saleh Djasit as Riau Governor in October.Hasbullah Zaini, the plaintiff, named President B.J.

RI medal winners awarded insurance

RI medal winners awarded insurance JAKARTA (JP): Chairman of the National Sports Council Wismoyo Arismunandar said on Tuesday that rewards in the form of life insurance policies would be given to Indonesian athletes who won medals at the just-concluded Asian Games.

Local tour operators expect gloomy business in 1999

Local tour operators expect gloomy business in 1999 JAKARTA (JP): Local tour operators expect another gloomy year ahead as international travelers may consider Indonesia too dangerous to visit in the first half of 1999, an industry executive said on Tuesday.

Momentous women's congress rectifies history

Momentous women's congress rectifies historyBy Debra H. Yatim YOGYAKARTA (JP): Former minister of manpower, SK Trimurti, had to use the service lift to take her upstairs for the one-day seminar here under the theme: "Indonesian Women: Looking Toward the Future Inspired by Aspirations of the Past".

Police ignore Rp 5 fine

Police ignore Rp 5 fine MEDAN, North Sumatra: A local resident is waiting for the police to pay Rp 5 (0.0007 U.S. cent) he was awarded by the Medan District Court for illegally impounding his vehicle, his lawyer Rahmadaniel Daulay said on Monday.

Habibie to chair security council's first meeting

Habibie to chair security council's first meeting JAKARTA (JP): President B.J. Habibie will chair the first meeting of the Council for Enforcement of Security and Law on Thursday. The refusal of two prominent organizations to join the security council will not affect the plan, a minister said on...

Doctorate for mayor

Doctorate for mayor UJUNGPANDANG, South Sulawesi: American World University (AWU) has bestowed an honorary doctoral degree on Ujungpandang Mayor Malik B. Masry, Antara reported on Tuesday.Malik received the doctorate after an oration detailing his urban development strategy in Singapore on Monday,...

The economic outlook

The economic outlook Though all key economic indicators have, of late, been showing a marked improvement, never, over the past 30 years, have we been as worried as now, facing a new year with so grave a sense of foreboding about our future.

Hike in regional minimum wages set

Hike in regional minimum wages set JAKARTA (JP): The government plans to increase regional minimum wages by between 10 percent and 20 percent next April.Syaufii Samsuddin, director general of industrial relations and labor standards at the manpower ministry, said on Tuesday that almost all...

Bank Putera needs Rp 200b

Bank Putera needs Rp 200b JAKARTA (JP): Private Bank Putera will need at least Rp 200 billion (US$26.7 million) to meet the Capital Adequacy Ratio (CAR) requirement of at least 4 percent by the end of the year.

RP unemployment rate surges

RP unemployment rate surges MANILA (AFP): Unemployment in the Philippines rose to 9.6 percent in October 1998 to three million people compared to 7.9 percent in the same period last year, the National Statistics Office said here Tuesday.This marked an improvement over the 13.

'Ewako'!

'Ewako'!From Media IndonesiaA process of idolizing democracy is taking place in this country. A feeling of nervousness invades us when we see the sudden emergence of the people's sovereignty that is trying to find its shape.

Irate house buyers demand developer return their money

Irate house buyers demand developer return their money JAKARTA (JP): More than 100 customers of Bumi Indah housing complex in Tangerang staged a rally at the developer's office demanding the firm return their housing installments worth billions of rupiah.

Southeast Asian currencies slip back against greenback

Southeast Asian currencies slip back against greenback SINGAPORE (Dow Jones): Both North Asian and Southeast Asian currencies slipped back against the U.S. dollar during Asian hours on Tuesday.While the regional currency sell-off was driven partly by an abrupt slide in the yen, many traders said...

RP leader vows to update military

RP leader vows to update military MANILA (AFP): Philippine President Joseph Estrada pledged on Tuesday to modernize the country's ill-equipped armed forces and protect the country's territories, including a disputed chain of South China Sea islands.

Mountaineers on Mt. Merapi found

Mountaineers on Mt. Merapi found PADANG, West Sumatra: Four mountaineers who had gone missing for eight days were found in a Mt. Merapi ravine on Sunday in a critical condition, police said.All four were evacuated on Monday and sent to hospital for treatment, Maj.

50-year-old woman dies in bakery fire

50-year-old woman dies in bakery fire JAKARTA (JP): A 50-year-old woman died in a fire which gutted the back part of the large Mon Ami bakery on Jl. K.S. Tubun in Slipi, West Jakarta, early Monday morning.City police deputy spokesman Maj.

Abduction cases go to court Wednesday

Abduction cases go to court Wednesday JAKARTA (JP): The trial of 11 military members who are defendants charged with involvement in the abduction of activists will start Wednesday at the military court.

120 sea accidents in Bali in 1998

120 sea accidents in Bali in 1998 JAKARTA (JP): The country's main tourist destination, Bali, has had 120 marine accidents involving both domestic and foreign tourists this year. The accidents were blamed on rising tides on the coasts of Pecatu, Nusa Dua, Canggu and Kuta.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Dec.21, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 450 -50 31,000 AHAP Insurance 400 0 0 Alter Abadi 300 0 96,000 Alumindo Light Metal 350 -25 190,000 Alumindo...

Habibie 'should not join dialog'

Habibie 'should not join dialog' JAKARTA (JP): Minister of Justice Muladi supported on Monday President B.J. Habibie's refusal to meet with his onetime mentor, Soeharto, for the so-called national dialog.

Foreigners held for illegal entry

Foreigners held for illegal entry MANILA (AP): The Philippine navy has detained 11 foreigners who illegally entered the Philippines aboard a boat laden with smuggled canned goods from Indonesia, officials said on Monday.

Civilian militia delayed until House debate

Civilian militia delayed until House debate JAKARTA (JP): Following days of public uproar, the government decided on Monday to postpone the establishment of a civilian militia until at least a law on trained civilians is issued.

Govt about to issue new ruling on tax break criteria

Govt about to issue new ruling on tax break criteria JAKARTA (JP): A presidential decree spelling out criteria for tax breaks for particular investments will be released this month and take effect in January, State Minister of Investment Hamzah Haz said on Monday.

Govt promulgates latest facts on rape during rioting

Govt promulgates latest facts on rape during rioting JAKARTA (JP): The government said 76 women were violated during the May rioting here and in other cities, but claimed on Monday they were not the victims of an organized crime.

Financial market trading quieter ahead of Xmas

Financial market trading quieter ahead of Xmas JAKARTA (JP): Trading activities in the local financial market were quiet on Monday with the rupiah closing at 7,725 against the U.S. dollar as share prices inched up 0.13 percent, dealers and stockbrokers said.

Public pressure called for to neutralize bureaucracy

Public pressure called for to neutralize bureaucracy JAKARTA (JP): Political observer J. Kristiadi has called on the public to exert pressure on the House of Representatives -- now in recess -- so that it decides against allowing the 4.1 million civil servants to enter politics.

Economic crisis dampens Singapore's Christmas spirit

Economic crisis dampens Singapore's Christmas spiritBy Jasmina Kuzmanovic SINGAPORE (AP): For the first time in years, an economic crisis has forced this rich island nation to cut down on preparations for Christmas, usually one of its biggest entertainment and shopping events.

Most SE Asian currencies up against the dollar

Most SE Asian currencies up against the dollar SINGAPORE (Dow Jones): Southeast Asian currencies were generally higher against the U.S. dollar in late trading Monday as sentiment for the U.S. currency wanes, traders said.The apparent end of U.S.

ADB backs Asia fund, readies new loans

ADB backs Asia fund, readies new loans TOKYO (Reuters): The Asian Development Bank (ADB) is preparing to help underwrite between US$2 billion and $3 billion in new loans to the Asian economies most directly hit by the regional crisis, a senior official at the bank said on Monday.