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Thu, 12 Feb 1998
Government needs 'to reach out more'
Government needs 'to reach out more' Former U.S. ambassador to Jakarta, Paul D. Wolfowitz, warns that unless Indonesia selects a vice president who enjoys broad support and establishes a cabinet which accommodates all elements of society, the country could become the "basket case of Asia".
Thu, 12 Feb 1998
Betawi people to show unified front in crisis
Betawi people to show unified front in crisis JAKARTA (JP): At least 50,000 Betawi native Jakartans are expected to give a public display of unity at a post Idul Fitri get-together in Central Jakarta this Saturday morning.
Thu, 12 Feb 1998
Corruption leads to economic crisis
Corruption leads to economic crisisFrom JayakartaCreating the desired clean government in this country seems to be very difficult. This situation can ascribed to the vicious circle of corruptive practices and lack of shame on the part of those perpetrating the corrupt acts.
Thu, 12 Feb 1998
Protesters clash with police, 150 apprehended
Protesters clash with police, 150 apprehended JAKARTA (JP): At least 150 people, including 14 women and two children, were apprehended during a demonstration yesterday over soaring prices, and taken to Jakarta Police Headquarters.
Thu, 12 Feb 1998
Feisal warns of groups exploiting economic crisis
Feisal warns of groups exploiting economic crisis BOGOR, West Java (JP): Armed Forces (ABRI) Chief Gen. Feisal Tanjung has again pinned the blame for recent riots and demonstrations for total reform, on "certain groups" seeking to subvert the government.
Thu, 12 Feb 1998
Harmoko, Habibie named Golkar's VP choices
Harmoko, Habibie named Golkar's VP choices JAKARTA (JP): The ruling political organization Golkar has decided to support both its chairman Harmoko and State Minister of Research and Technology B.J. Habibie in next month's vice presidential election, deputy chairman Abdul Gafur said yesterday.
Thu, 12 Feb 1998
SEAG Consortium told to report to public
SEAG Consortium told to report to public JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman yesterday urged the 19th SEA Games Consortium to give transparent reports to the public about the fund raising it did to finance the biennial event last year.
Thu, 12 Feb 1998
Rupiah will be pegged to fixed exchange rate
Rupiah will be pegged to fixed exchange rate JAKARTA (JP): Indonesia will soon establish a currency board system (CBS) to stabilize the shattered rupiah and is now finalizing legal and institutional frameworks to operate the fixed peg arrangement, Finance Minister Mar'ie Muhammad confirmed...
Thu, 12 Feb 1998
On the holy war
On the holy war The Indonesian Ulemas Council has beaten the drum of jihad (holy war) against speculators and hoarders of staple commodities in an effort to protect the country from political and economic pressures.
Thu, 12 Feb 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb. 11, 1998: Buying Selling Rp Rp U.S dollar 1 6,000.00 9,000.00Austrian shilling 1 446.60 728.80Australian dollar 1 4,000.20 6,105.40Belgian franc 1 157.80 239.60Canadian dollar 1 4,102.
Thu, 12 Feb 1998
Fires gut Maluku forests
Fires gut Maluku forests AMBON, Maluku: Fires in three drought-hit subdistricts here have gutted a wide area of forest over the past two weeks, Antara reported yesterday.Mayor Chris Tanasale said the fires were raging in the villages of Amahusu and Eri in the Nusaniwe subdistrict, Hatiwe Besar and...
Thu, 12 Feb 1998
Sidewalk vendors to be tolerated
Sidewalk vendors to be tolerated JAKARTA (JP): Sidewalk vendors near Tanah Abang market in Central Jakarta will be allowed to operate until the General Session of the People's Consultative Assembly next month, an official said yesterday.
Thu, 12 Feb 1998
ITB students, teachers want succession
ITB students, teachers want succession BANDUNG (JP): Most Bandung Institute of Technology (ITB) students and lecturers said in a recent poll they wished to see a new president soon.Students said they favored Moslem leader Amien Rais as the next president, while lecturers said they would prefer Vice...
Thu, 12 Feb 1998
Oil companies to spend $6.3b on exploration and production
Oil companies to spend $6.3b on exploration and production JAKARTA (JP): Oil and gas contractors will raise their exploration and production budgets 40 percent to US$6.3 billion this year, state-owned oil and gas company Pertamina said yesterday.
Thu, 12 Feb 1998
Municipality vows to supply ample basic commodities
Municipality vows to supply ample basic commodities JAKARTA (JP): The city municipality will go all out to provide adequate supplies of basic commodities -- particularly rice, sugar, flour, cooking oil and kerosene -- for Jakartans, officials said yesterday.
Thu, 12 Feb 1998
Bengkulu coral reef damaged
Bengkulu coral reef damaged BENGKULU, Bengkulu: Coral reefs near Tikus and Enggano islands here have been seriously damaged due to fish bombing, Antara reported yesterday.A local fisheries official, Roebimin Wibisono, said the destruction had pushed much marine life to the brink of extinction.
Thu, 12 Feb 1998
Soeharto dedicates industrial complex
Soeharto dedicates industrial complex JAKARTA (JP): President Soeharto dedicated Indonesia's first heavy industrial complex yesterday owned by the country's leading conglomerate, the Texmaco Group.Soeharto said the heavy industrial complex, in Subang, West Java, was a milestone in the country's...
Thu, 12 Feb 1998
Fuel subsidy to be aimed at halting smuggling
Fuel subsidy to be aimed at halting smuggling JAKARTA (JP): Minister of Finance Mar'ie Muhammad said here yesterday that the government's future fuel price subsidization policy would be designed to limit the smuggling of oil products from the country.
Thu, 12 Feb 1998
Indosat's net income rises 22 percent
Indosat's net income rises 22 percent JAKARTA (JP): PT Indonesian Satellite Corporation (Indosat) announced yesterday a 22 percent increase in its consolidated net income for 1997 to Rp 636.5 billion (US$136.9 million) from Rp 521.7 billion the previous year despite the country's monetary crisis.
Thu, 12 Feb 1998
Aspac ready to compete in first ABA league
Aspac ready to compete in first ABA league JAKARTA (JP): The Jakarta-based Aspac basketball club is ready to compete in the new, professional Asian Basketball Association (ABA) league, which will be staged for the first time on Aug. 13 in Tokyo.
Thu, 12 Feb 1998
Help foreign ministry
Help foreign ministryFrom MerdekaThe impact of the monetary crisis has been felt far and wide, from the government to the private sector. No one is to blame. It is a situation beyond control.The Indonesian Ministry of Foreign Affairs has been seriously affected by the crisis.
Thu, 12 Feb 1998
Oil city Balikpapan celebrates 101 birthday
Oil city Balikpapan celebrates 101 birthdayBy Antoni Tambunan BALIKPAPAN, East Kalimantan (JP): Some residents have reportedly complained that this City of Oil is so rich that beggars haunting some shopping centers refuse Rp 100 coins and hold out for at least Rp 500 notes.No wonder.
Thu, 12 Feb 1998
Fires bring orangutans misery
Fires bring orangutans misery SAMARINDA, East Kalimantan: Two thousand orangutans (Pongo pygmaeus) in Kutai National Park have been affected by the fires that have spread through the protected area, park chief Warsito, has said.
Thu, 12 Feb 1998
State firm regulations affect five timber firms
State firm regulations affect five timber firms JAKARTA (JP): Five state timber companies PT Inhutani I to V will be treated like private timber firms due to a change in state enterprise operations regulations, a minister said yesterday.
Thu, 12 Feb 1998
Rupiah extends gains on currency peg news
Rupiah extends gains on currency peg news JAKARTA (JP): The rupiah extended gains against the U.S. dollar for a second consecutive day yesterday on the confirmation that the government will fix the rupiah exchange rate under a currency board arrangement, currency dealers said.
Thu, 12 Feb 1998
Currency board's resume; system's pros and cons
Currency board's resume; system's pros and cons SINGAPORE (Reuters): Indonesia has said it is exploring the possibility of establishing a currency board to maintain the value of the rupiah.The following is a brief resume of how a traditional currency board works and some of the pros and cons of...
Thu, 12 Feb 1998
Emil calls for support for social safety net
Emil calls for support for social safety net JAKARTA (JP): Senior economist Emil Salim has called for public support for the government's effort to build the social safety net for the poor it promised in its economic reform package.
Thu, 12 Feb 1998
Minibus overturns, 2 passengers die
Minibus overturns, 2 passengers die JAKARTA (JP): Two minibus passengers were killed and three others seriously injured yesterday morning when a speeding and overloaded Metromini 92 -- plying the Grogol-Ciledug route -- overturned while making a turn on Jl. Meruya Ilir Raya, West Jakarta.
Thu, 12 Feb 1998
King Carlos marks RP independence
King Carlos marks RP independence MACTAN, Philippines (AFP): King Juan Carlos and Queen Sofia of Spain arrived here yesterday to join Philippine celebrations to mark the 100th anniversary of the end of almost four centuries of Spanish colonial rule.
Thu, 12 Feb 1998
Matahari sells Prapatan stake
Matahari sells Prapatan stake JAKARTA (JP): The country's largest listed retail firm PT Matahari Putra Prima sold its 12.61 percent stake in PT Hotel Prapatan yesterday through the crossing board at the Jakarta and Surabaya stock markets yesterday.
Wed, 11 Feb 1998
Central banks to meet in Bali
Central banks to meet in Bali JAKARTA (JP): Central bank governors of the Association of Southeast Asian Nations (ASEAN) will hold an annual meeting in Bali this week.An official of Bank Indonesia said here yesterday that the three-day meeting, which will be held from Friday through Monday would be...
Wed, 11 Feb 1998
The yen rises on the wings of the rupiah
The yen rises on the wings of the rupiah LONDON (AFP): The yen rose early yesterday in the light of overnight gains in South East Asian currencies, notably the Indonesian rupiah, and the pound fell after the publication of lower-than-expected inflation data.The dollar fell to 123.27 yen from 124.
Wed, 11 Feb 1998
Tycoons must donate
Tycoons must donateFrom Pikiran RakyatMedia reports on the country's monetary crisis are indeed alarming. Especially now that the crisis has caused the prices of the nine staple daily necessities to soar, with the result that people are queuing to buy staples supplied by the logistics depots at...
Wed, 11 Feb 1998
Strong reactions greet Lee's Asia crisis comment
Strong reactions greet Lee's Asia crisis comment JAKARTA (JP): Former Singapore prime minister Lee Kuan Yew's remark that Asia's financial crisis could worsen if the market was uncomfortable with Indonesia's next vice president was met with strong reactions here yesterday.
Wed, 11 Feb 1998
Thailand to donate 5,000 tons of rice
Thailand to donate 5,000 tons of rice JAKARTA (JP): Thai Foreign Minister Surin Pitsuwan said yesterday his government would donate 5,000 tons of rice and one million baht (US$20,000) worth of medicines to Indonesia as a token of solidarity.
Wed, 11 Feb 1998
Industry groups oppose scrapping of 3-in-1 system
Industry groups oppose scrapping of 3-in-1 system JAKARTA (JP): The city administration has met with opposition following its announcement that car stickers would replace the three-in-one traffic regulation after next month's General Session of the People's Consultative Assembly (MPR).
Wed, 11 Feb 1998
Currency peg plan worth exploring, says IMF official
Currency peg plan worth exploring, says IMF official SINGAPORE (Agencies): A senior official of the International Monetary Fund (IMF) said here yesterday that a proposal to peg the Indonesian rupiah to the U.S. dollar to ease volatility was "worth exploring.
Wed, 11 Feb 1998
S&P downgrades Matahari
S&P downgrades Matahari SYDNEY (Reuters): Standard and Poor's Corp said yesterday that it downgraded its rating on P.T. Matahari Putra Prima to CC from CCC, with the rating remaining on creditwatch with negative implications.
Wed, 11 Feb 1998
Spotlight
SpotlightPhoto A: ChineseJP/arhFOND FAREWELL: Chinese Ambassador to Indonesia Lhou Gang (center) and his wife talk with Minister of Tourism and Telecommunications Joop Ave. The ambassador hosted a farewell party at the new Chinese Embassy building in Kuningan, South Jakarta, Monday.
Wed, 11 Feb 1998
Singapore hotel occupancy, room rates falling
Singapore hotel occupancy, room rates falling SINGAPORE (Reuters): Singapore hotels are suffering from Southeast Asia's financial crisis and the dense smog which blanketed parts of the region at the end of 1997, the Singapore Tourist Board (STB) said yesterday.
Wed, 11 Feb 1998
Japanese bank proposes debt-servicing fund
Japanese bank proposes debt-servicing fund TOKYO (Agencies): Bank of Tokyo-Mitsubishi Ltd (BTM) said yesterday it was proposing to the Japanese and Indonesian governments that they set up a fund to allow Indonesian firms to exchange the rupiah for the U.S.
Wed, 11 Feb 1998
SEAG consortium's report due today
SEAG consortium's report due today JAKARTA (JP): The 19th SEA Games consortium has been asked to submit its accountability report on its management of the Games budget to State Minister for Youth Affairs and Sport Hayono Isman today.
Wed, 11 Feb 1998
Police arrest oil hoarder
Police arrest oil hoarder SEMARANG: Police here have detained a man on charges of hoarding 1,386 drums and 8,335 boxes of lubricants worth hundreds of millions of rupiah."The place was raided after a tip-off by local residents," Semarang police chief Lt. Col. Soenarko told reporters yesterday.
Wed, 11 Feb 1998
Crude palm oil export ban will continue: Minister
Crude palm oil export ban will continue: Minister JAKARTA (JP): The government has extended its export ban on crude palm oil (CPO) until a yet to be decided time, Minister of Industry and Trade Tunky Ariwibowo has announced.
Wed, 11 Feb 1998
Golkar affiliates told not to name VP candidates
Golkar affiliates told not to name VP candidates JAKARTA (JP): President Soeharto moved yesterday to curb growing speculation over who might be the next vice president by prohibiting organizations affiliated to the ruling Golkar from naming any names.
Wed, 11 Feb 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Feb.10, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 700 0 0 AHAP Insurance 350 0 0 Alter Abadi 575 25 15,000 Alumindo Light Metal 375 -25 3,481,500 Alumindo...
Wed, 11 Feb 1998
Pontianak's mandarin growers feel the big squeeze
Pontianak's mandarin growers feel the big squeezeBy R. Masri Sareb Putra SAMBAS, West Kalimantan (JP): Those unfamiliar with West Kalimantan often assume its famed Pontianak mandarin oranges really do come from the provincial capital.
Wed, 11 Feb 1998
Dollar-peg proposal for rupiah draws reactions
Dollar-peg proposal for rupiah draws reactions SINGAPORE (AFP): Most Southeast Asian bourses reacted positively yesterday to proposals for Jakarta to adopt a currency board system pegging the rupiah to the dollar, with Singapore gaining 3.8 percent on the news.
Wed, 11 Feb 1998
Pegged rupiah draws mixed reviews
Pegged rupiah draws mixed reviewsBy Roberto Coloma SINGAPORE (AFP): A radical proposal to institute a peg for the Indonesian rupiah drew mixed reviews from dealers and economists yesterday, but market players took no chances and dumped U.S. dollars for regional currencies.
Wed, 11 Feb 1998
Queljoe quits Lippo
Queljoe quits Lippo JAKARTA (Reuters): The American president of Indonesia's Lippo Securities has resigned and the position is currently vacant, a company official said yesterday.Charles L. de Queljoe was due to leave for the United States on Tuesday, said Jos Parengkuan, a Lippo Securities...