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Wed, 04 Feb 1998
Ricardo predicts significant rise in grocery prices
Ricardo predicts significant rise in grocery prices JAKARTA (JP): The prices of the nine basic commodities, such as rice and cooking oil, are likely to rise by between 10 percent and 15 percent next week, Ricardo Gelael, president of the Goro Batara Sakti wholesale company, said yesterday.
Wed, 04 Feb 1998
Share prices fail to sustain Monday's gains
Share prices fail to sustain Monday's gains JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) failed to sustain their impressive gains yesterday, losing about 3 percent due to profit takings and reports of sporadic riots.
Wed, 04 Feb 1998
Private sector debts and offshore deposits
Private sector debts and offshore depositsBy Joe L. Spartz JAKARTA (JP): So far, neither IMF intervention nor the economic reform package announced by the government have been able to stem or to reverse the increasingly catastrophic fall of the rupiah.
Wed, 04 Feb 1998
'Ketupat' casing business a moneymaker during Idul Fitri
'Ketupat' casing business a moneymaker during Idul FitriBy Emmy Fitri JAKARTA (JP): For most Jakartans, the Idul Fitri celebration would not be complete without feasting on some ketupat (rice wrapped in young coconut palm leaves).
Wed, 04 Feb 1998
Teenager arrested for killing mother
Teenager arrested for killing mother JAKARTA (JP): Police arrested a 17-year-old man in Central Jakarta for allegedly stabbing his mother to death yesterday.City police spokesman Lt. Col. E. Aritonang said the suspect, identified as Hardiansyah, was believed to have killed his mother after she...
Wed, 04 Feb 1998
IMF opposes rate cut
IMF opposes rate cut SEOUL (AFP): A senior official of the International Monetary Fund (IMF) yesterday rejected South Korea's request that it be allowed to lower interest rates, citing a still unstable foreign exchange market.
Wed, 04 Feb 1998
Air Lanka privatization
Air Lanka privatization COLOMBO (AFP): Sri Lanka yesterday announced it was entering into talks with the Dubai-based Emirates airline to sell 40 percent of its national carrier, Air Lanka, under a privatization plan.
Wed, 04 Feb 1998
Tigaraksa to get a grand mosque
Tigaraksa to get a grand mosque JAKARTA (JP): A grand mosque with a capacity of 4,000 is to be built on a 26,757-square-meter plot of land in Tigaraksa, Tangerang at a cost of more than Rp 5.89 billion (US$589,000), an official said yesterday.
Wed, 04 Feb 1998
New interest rate policy will force bank innovation
New interest rate policy will force bank innovation JAKARTA (JP): Bank Indonesia's (BI) latest move to control interest rates will force commercial banks to be more innovative, analysts have said.Jusuf Arbianto Tjondrolukito, a commissioner of Bank Danamon, said yesterday the measure would force...
Wed, 04 Feb 1998
Sugar import squeeze seen to affect Asia
Sugar import squeeze seen to affect Asia LONDON (Reuters): Asia's financial crisis has slowed the growth of emerging Far Eastern sugar markets, but the full impact of an uneven import squeeze has still be felt, sugar analysts and traders said.
Wed, 04 Feb 1998
6,000 lose jobs in Kebumen
6,000 lose jobs in Kebumen SEMARANG: About 2,500 bag and cap home businesses that employ 6,000 workers in Kebumen regency have gone bankrupt because of the deepening economic crisis.The chief of the Association of Kebumen Bag and Cap Entrepreneurs, Nurhamid, said the companies were unable to buy...
Wed, 04 Feb 1998
Forest fires may be manmade, says official
Forest fires may be manmade, says official JAKARTA (JP): Satellite images and aerial photos suggest the fresh forest fires in East Kalimantan may have been started intentionally, a government official said yesterday.
Tue, 03 Feb 1998
Singapore PM Goh to meet Soeharto
Singapore PM Goh to meet Soeharto JAKARTA (JP): Singaporean Prime Minister Goh Chok Tong is to meet with President Soeharto here today to discuss the economic crisis in Indonesia, it was announced yesterday."Mr.
Tue, 03 Feb 1998
Two die in helicopter crash
Two die in helicopter crash MEDAN, North Sumatra (JP): A helicopter crashed into a rubber plantation near the village of Hapesong, 600 kilometers south of here, Sunday morning. The two people aboard were killed.Rescue workers identified the victims as pilot Conrad C.
Tue, 03 Feb 1998
Gulf Indonesia finds gas
Gulf Indonesia finds gas JAKARTA (JP): The state-owned oil and gas company and its contractor Gulf Indonesia Resources Ltd of Canada announced yesterday the discovery of a natural gas reserve on the production-sharing contract-area Block B, southern Jambi.
Tue, 03 Feb 1998
RI remains attractive to foreign investors: Sanyoto
RI remains attractive to foreign investors: Sanyoto JAKARTA (JP): Foreign investors still see Indonesia as an attractive site for investment despite the economic crisis, State Minister of Investment Sanyoto Sastrowardoyo said yesterday.
Tue, 03 Feb 1998
Government to help market unsold timber: Minister
Government to help market unsold timber: Minister JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo said yesterday the government would help private companies market the more than 5.9 million cubic meters of logs that remained unsold last year.
Tue, 03 Feb 1998
Stocks up, rupiah strengthens
Stocks up, rupiah strengthens JAKARTA (JP): Bullish trading returned to the Jakarta Stock Exchange yesterday, with the Composite Price Index surging 14 percent in active trade.In the foreign exchange market, the rupiah also maintained its strengthening performance to close at 10,300 against the U.S.
Tue, 03 Feb 1998
Fish bombs kill seven fishermen
Fish bombs kill seven fishermen BANDAR LAMPUNG, Lampung: Police are investigating the origin of fishing bombs which killed seven fishermen in Teluk Lampung when they exploded prematurely on Jan. 27.Lampung detective chief Lt. Col.
Tue, 03 Feb 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb. 2, 1998 Buying Selling Rp Rp U.S dollar 1 9,000.00 12,000.00Austrian shilling 1 622.50 914.70Australian dollar 1 5,653.20 7,766.50Belgian franc 1 219.80 300.90Canadian dollar 1 5,722.
Tue, 03 Feb 1998
Four killed in bus crash
Four killed in bus crash CIREBON, West Java: Four people were killed and nine others seriously injured after the minibus they were in skidded and overturned yesterday.Tasdik, 27, the driver's assistant who was among those injured, said the bus was going too fast as it turned left at a busy street.
Tue, 03 Feb 1998
12 bus crew cited for ticket rule violations
12 bus crew cited for ticket rule violations JAKARTA (JP): The crews of 12 buses were caught selling tickets far beyond the official rates yesterday as Jakarta prepares for an influx of Idul Fitri holidaymakers, an official said.
Tue, 03 Feb 1998
Departute tax raised to Rp 1m
Departute tax raised to Rp 1m JAKARTA (JP): The government announced yesterday a 300 percent increase in departure tax imposed on Indonesians leaving the country by airplane to Rp 1 million (about US$100) from Rp 250,000 in an unprecedented move to discourage overseas traveling.
Tue, 03 Feb 1998
Fire destroys 345 houses
Fire destroys 345 houses MEDAN, North Sumatra: Hundreds of fisherpeople and their families in Aek Muara Pinang, Sibolga subdistrict, were left homeless after fire destroyed 345 houses Jan. 29, a press report said yesterday.
Tue, 03 Feb 1998
Forex deposit ceiling set at 2%
Forex deposit ceiling set at 2% JAKARTA (JP): Bank Indonesia (BI) has limited the growth of bank foreign exchange deposits and foreign exchange non-trade and trade-related liabilities to a maximum of 2 percent a month, the central bank announced yesterday.Central bank governor J.
Tue, 03 Feb 1998
BI forex measures deemed inadequate by analysts
BI forex measures deemed inadequate by analysts JAKARTA (JP): Bank Indonesia's (BI) latest move to control bank foreign exchange deposits and liabilities might be ineffective in preventing a further plunge in the rupiah as well as in restoring confidence in the banking sector, analysts have said.
Tue, 03 Feb 1998
Seeking balance between immaterial, material cultures
Seeking balance between immaterial, material culturesBy A. Chaedar Alwasilah BANDUNG, West Java (JP): As Indonesians are on the brink of the free regional market era, they need solid cultural foundations to avoid a cultural leg and to survive competition.
Tue, 03 Feb 1998
Banking industry reform needs hard efforts
Banking industry reform needs hard efforts The government last week announced a banking policy reform guaranteeing all the claims of depositors and creditors of locally incorporated banks. Economist Kwik Kian Gie discusses the prospects for its implementation.
Tue, 03 Feb 1998
Asia crude market likely to remain weak
Asia crude market likely to remain weak SINGAPORE (Reuters): The Asian crude market was expected to see further downward price pressure this week, with colder weather in Japan unlikely to translate into greater demand, traders said yesterday.
Tue, 03 Feb 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 Feb.
Tue, 03 Feb 1998
Data slipup
Data slipup We refer to the article on a joint venture for a lube oil plant in The Jakarta Post on Jan. 13 this year. We would like to inform you that the proposed Medan plant will be built by a joint venture with Caltex Asia Ltd, a wholly owned subsidiary of Caltex Petroleum Corporation, and not...
Tue, 03 Feb 1998
Radius meets Japanese bankers
Radius meets Japanese bankers TOKYO (Reuters): A key advisor to the Indonesian government, Radius Prawiro, yesterday met officials of major Japanese banks to ask for support for an economic reform program announced by Jakarta last week, bankers said.
Tue, 03 Feb 1998
Councilors hail plan on car sticker system
Councilors hail plan on car sticker system JAKARTA (JP): City councilors have hailed the municipality's plan to replace the three-in-one traffic regulation with a car sticker system, which is to start after next month's general session of the People's Consultative Assembly.
Tue, 03 Feb 1998
Jakarta warned against rejecting new migrants
Jakarta warned against rejecting new migrants JAKARTA (JP): A labor activist and a human rights campaigner warned the Jakarta authorities yesterday against closing the doors of the capital to fresh migrants, calling such a policy ineffective and a human rights violation.
Tue, 03 Feb 1998
Asia a limited problem for Japanese banks
Asia a limited problem for Japanese banks TOKYO (Reuters): Asia's financial crisis will cause only limited problems for Japanese banks, although they are the region's major creditors, bankers and analysts say.Japanese lending in the region is not necessarily riskier than that of European or U.S.
Tue, 03 Feb 1998
Year of Art and its meaning
Year of Art and its meaningBy Ignas Kleden JAKARTA (JP): On New Year's Eve President Soeharto announced that 1998 was the Year of Art and Culture in Indonesia.And as the two ministers with the President during his announcement were Minister of Education and Culture Wardiman Djojonegoro and Minister...
Tue, 03 Feb 1998
Thick smog disrupts flights at Samarinda
Thick smog disrupts flights at Samarinda JAKARTA (JP): Thick smog from smoldering forest fires forced the authorities at Temindung Airport in Samarinda, the capital of East Kalimantan, to delay several morning flights yesterday.
Tue, 03 Feb 1998
Response to U.S. rights report a must: Marzuki
Response to U.S. rights report a must: Marzuki JAKARTA (JP): The Indonesian government must explain its human rights policy and its implementation to the United States, a leading human right campaigner said yesterday.
Tue, 03 Feb 1998
Cleaning up banks
Cleaning up banks The Indonesian Bank Restructuring Agency (IBRA) has plunged immediately into full operations following its establishment on Jan. 27. The agency, in cooperation with Bank Indonesia (the central bank), is finalizing the assessment of all commercial banks and will soon be set to...
Tue, 03 Feb 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: The Big Valley 3:10 Teenager's Program: Remaja Indonesia 3:35 Development Program: Lintasan Ekonomi 4:30 Science and Technology 5:00 English Lessons 5:30 Documentary: Dirgantara 6:00 The Beloved Country 6:15 Village...
Tue, 03 Feb 1998
Film on 'killer' shaman a hit
Film on 'killer' shaman a hit MEDAN, North Sumatra: A newly released movie about a shaman who has admitted killing 42 clients in Deli Serdang district is proving a big success.Movie theaters showing the film, which cost Rp 1 billion (US$100,000) to make, have been packed, Antara reported yesterday.
Tue, 03 Feb 1998
Weightlifting body names five Asiad competitors
Weightlifting body names five Asiad competitors JAKARTA (JP): The Indonesian Weightlifting, Powerlifting and Bodybuilding Association's secretary-general, Djoko Pramono, named yesterday five competitors as most likely to go to the 13th Asian Games in Bangkok in December.
Tue, 03 Feb 1998
Robbers strike twice in one night
Robbers strike twice in one night BOGOR (JP): Police are searching for a group of robbers who made off with one kilogram of gold jewelry, Rp 1.5 million (US$176.4) and other belongings from two houses in Tanah Sereal district, Bogor, an officer said yesterday.Bogor Police chief Lt. Col.
Tue, 03 Feb 1998
Asian currencies firmer on dollar liquidation
Asian currencies firmer on dollar liquidation SINGAPORE (Reuters): Asian currencies powered higher yesterday as U.S. and European banks and hedge funds cut their long dollar positions after Thailand's surprise scrapping of its two-tier foreign exchange system.
Tue, 03 Feb 1998
Family dies in head-on crash
Family dies in head-on crash JAKARTA (JP): A family was killed Sunday when a public minivan struck a motorcycle on Jl. Raya Jonggol in Bogor.Madi, 40, his wife and their two-and-a-half-year-old child were on the motorcycle and heading to relatives' houses for Idul Fitri celebrations.
Tue, 03 Feb 1998
More Batam firms to get ISOs
More Batam firms to get ISOs JAKARTA (JP): State-owned PT Surveyor Indonesia's representative office in Batam has targeted at least 12 local companies to get ISO 9000 and ISO 14000 certifications this year for their quality management and environmental quality management.
Tue, 03 Feb 1998
ABRI's trust in Soeharto part of a 'strategic plan'
ABRI's trust in Soeharto part of a 'strategic plan' JAKARTA (JP): The Armed Forces (ABRI) reaffirmed yesterday its commitment to renominating President Soeharto even if there was a change in its leadership.ABRI spokesman Brig. Gen. A.
Tue, 03 Feb 1998
Investors eye N. Sumatra
Investors eye N. Sumatra JAKARTA (JP): Many Malaysian and Singaporean investors are expressing an interest in horticulture businesses in Simalungun regency, North Sumatra, a senior official has said.The head of the agribusiness department of the Ministry of Agriculture, Ato Suprapto, said...
Tue, 03 Feb 1998
Fire leaves 30 people homeless
Fire leaves 30 people homeless JAKARTA (JP): A fire gutted four houses and left at least 30 people homeless on Jl. Mangga Besar IX in West Jakarta yesterday.No fatalities were reported and damages were still being estimated.
Tue, 03 Feb 1998
Journalism must maintain truth
Journalism must maintain truth I would like to emphasize the importance of maintaining truth and accuracy in the press, with reference to some recent events in Indonesia and the United States of America.