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Thu, 26 Mar 1998
Consequences of high interest rates
Consequences of high interest rates This is not the first time the government has followed a policy of raising bank interest rates. When the government in August last year abandoned the intervention band that allowed the rupiah's value against the U.S.
Thu, 26 Mar 1998
PT Toyota-Astra Motor launches new Corolla
PT Toyota-Astra Motor launches new Corolla JAKARTA (JP): PT Toyota-Astra Motor is shrugging off the worst ever recession in the history of the country's automotive industry and launching the latest generation of its Toyota Corolla tomorrow.
Thu, 26 Mar 1998
All oil producers urged to cut output
All oil producers urged to cut output JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto asked all OPEC members and independent oil producers yesterday to voluntarily cut their output to prop up the crude oil price.
Thu, 26 Mar 1998
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 25, 1998: Buying Selling Rp Rp U.S. dollar 1 8,000.00 9,500.00Austrian shilling 1 574.90 742.80Australian dollar 1 5,114.90 6,178.10Belgian franc 1 203.30 244.60Canadian dollar 1 5,408.
Thu, 26 Mar 1998
Govt, IMF discuss another revision of RI state budget
Govt, IMF discuss another revision of RI state budget JAKARTA (JP): The government and the International Monetary Fund (IMF) are discussing another revision of the country's 1998/1999 state budget, Minister of Finance Fuad Bawazier said yesterday.
Thu, 26 Mar 1998
CDC plans SE Asia fund
CDC plans SE Asia fund MANILA (AFP): Taiwan's China Development Corp. (CDC) will organize a billion dollar venture capital fund to invest in four Southeast Asian countries hit by currency crises, a Philippine subsidiary of the firm said yesterday.
Thu, 26 Mar 1998
W. Java flood victims need more aid
W. Java flood victims need more aid JAKARTA (JP): Thousands of residents in flood-hit areas in South Bandung regency, West Java, need more food and medical supplies to ease the suffering they have experienced over the past two weeks, Antara reported yesterday.
Thu, 26 Mar 1998
Rupiah in steady rise as other currencies rebound
Rupiah in steady rise as other currencies rebound SINGAPORE (AFP): The Indonesian rupiah persisted in its steady rise against the U.S. dollar in thin trade yesterday as other Asian currencies led by the Thai baht made up for their losses after a brief sell-off the day before.
Thu, 26 Mar 1998
Boat people from Indonesia?
Boat people from Indonesia? Much has been said and written about the plight of the Indonesians who feel compelled to seek a better life in neighboring countries, Malaysia and Singapore in particular. There also can be no question about the government's sincerity in trying to resolve the problem as...
Thu, 26 Mar 1998
'Ojek' driver murdered
'Ojek' driver murdered JAKARTA (JP): An ojek (motorcycle taxi) driver was found dead with his skull crushed early yesterday in a cassava field in Pamulang district of South Jakarta, City Police spokesman Lt. Col. E. Aritonang said yesterday.
Thu, 26 Mar 1998
People's fate
People's fateFrom MerdekaAs a senior citizen, I was prompted to write this letter after reading reports in Merdeka regarding the IMF orienting (us) on liberalization, the arrest of members of the Democratic People Party in an apartment and a letter to the editor written by Michael De Rozari on...
Thu, 26 Mar 1998
Small publications to get cheaper paper
Small publications to get cheaper paper JAKARTA (JP): PT Aspex Paper, the country's largest newsprint producer, has agreed to give a 30 percent discount to small-scale publishing companies.However, the newsprint to be sold to the small publications would be of lower quality, or BB grade, than that...
Thu, 26 Mar 1998
Ratna denies being caught re-handed
Ratna denies being caught re-handed JAKARTA (JP): Stage actress Ratna Sarumpaet and five others who filed a lawsuit for wrongful arrest challenged police claims yesterday that they were caught red-handed holding an illegal political meeting on Feb. 10.
Thu, 26 Mar 1998
Thugs clean out rich man's house
Thugs clean out rich man's house TANGERANG (JP): Police are tracking down five men suspected of robbing a businessman of 400 grams of jewelry, a Rolex gold- plated wristwatch, a 29-inch TV set and Rp 7 million in cash early Tuesday.
Thu, 26 Mar 1998
Thousands face food shortages on E. Timor coast
Thousands face food shortages on E. Timor coast BOBONARO, East Timor (JP): About 5,000 people in four coastal villages here are enduring food shortages after a dry spell since January caused massive crop failures, a local official has confirmed.
Thu, 26 Mar 1998
'Jury still out' on talks between IMF, Indonesia
'Jury still out' on talks between IMF, Indonesia WASHINGTON (Agencies): It is too early to tell if the IMF and the Indonesian government will be able to put a stalled economic bailout package back on track, a senior U.S. official said Tuesday.
Thu, 26 Mar 1998
Shares up on news of debt rollover plan
Shares up on news of debt rollover plan JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) rose slightly yesterday after falling for two consecutive days on news of the rollover plan to tackle the country's mounting private debt crisis.
Thu, 26 Mar 1998
Questions loom on norms in political life
Questions loom on norms in political lifeBy Mochtar Buchori JAKARTA (JP): When observing the behavior of our political leaders during this political and economic crisis, I cannot help comparing them with their predecessors in 1945 and the ensuing 10 years in our early existence as an independent...
Thu, 26 Mar 1998
Ramos and rebel share prize
Ramos and rebel share prize MANILA (AFP): Philippine President Fidel Ramos said yesterday that he was delighted to have jointly won the UN Educational, Scientific and Cultural Organization (UNESCO) peace prize with a former battlefield adversary.
Thu, 26 Mar 1998
Singapore steps up blitz on illegal workers
Singapore steps up blitz on illegal workersBy Raj Rajendran SINGAPORE (Reuters): A Singapore blitz on illegal workers may keep many Indonesians from trying to enter the island state, though some remain determined to flee their homeland's economic misery.
Thu, 26 Mar 1998
Keating defends RI against market
Keating defends RI against market SYDNEY (Reuters): Indonesia has been "punished" by financial markets more severely than other Asian nations because of an inaccurate view that it was a rogue state, former Australian prime minister Paul Keating said yesterday.
Thu, 26 Mar 1998
Crisis is a drag for drag race organizers
Crisis is a drag for drag race organizers JAKARTA (JP): Organizers of the national drag race championship series said yesterday they expected fewer participants in the opening leg April 5 due to the monetary turmoil.
Thu, 26 Mar 1998
U.S. to offer $56m in aid to Indonesia
U.S. to offer $56m in aid to Indonesia WASHINGTON (Dow Jones): The U.S. will offer US$56 million in food and medical supplies to meet immediate humanitarian needs in Indonesia, a government official said Tuesday.
Thu, 26 Mar 1998
Foreign investment, economic development
Foreign investment, economic development The present government has clear and well-defined economic policies, geared to promoting foreign investment in the country. The country welcomes private investment in all areas of the economy, with the exception of five sectors due to national security...
Thu, 26 Mar 1998
100 soldiers armed with vegetable seeds
100 soldiers armed with vegetable seeds JAKARTA (JP): The Jakarta Military Command will soon deploy 100 soldiers not to a battlefield but to grow vegetables on neglected land in Tangerang in a bid to help raise the production of basic staples, an officer said.Commander Maj. Gen.
Thu, 26 Mar 1998
City tightens building licensing
City tightens building licensing JAKARTA (JP): The city administration will refuse to issue occupancy permits for high-rise buildings unless they are provided with proper fire safety equipment, a senior official has said.
Thu, 26 Mar 1998
Subagyo hails Amien for wise criticism
Subagyo hails Amien for wise criticism BANDUNG (JP): Army Chief of Staff Gen. Subagyo Hadisiswoyo praised the outspoken scholar Amien Rais yesterday for his mature and wise criticism of the government.The general said the Armed Forces (ABRI) would accommodate the views of the chairman of the 28...
Thu, 26 Mar 1998
Doctoral exam turns into gripping argument on govt
Doctoral exam turns into gripping argument on govt JAKARTA (JP): A panel of the University of Indonesia's law professors turned a viva yesterday into a grievance session and led legal doctoral candidate A.S.S.
Thu, 26 Mar 1998
Pimps, patrons play strangers
Pimps, patrons play strangers PURWOKERTO, Central Java (JP): An encounter between officers, 10 pimps and 32 prostitutes in a police station on Monday took on shades of melodrama when many of the ladies of the night began to shed tears.
Thu, 26 Mar 1998
34 firms sign up for German center in BSD complex
34 firms sign up for German center in BSD complex TANGERANG (JP): Registration of 34 local and foreign companies is confirmed for the eight-story German Center for Industry and Trade in the Bumi Serpong Damai (BSD) housing complex here, the center's president said yesterday.
Wed, 25 Mar 1998
Taiwanese company eyes RI business opportunities
Taiwanese company eyes RI business opportunities JAKARTA (JP): One of Taiwan's top companies said yesterday it was eying several attractive investment opportunities in Indonesia in the wake of the country's economic turmoil.
Wed, 25 Mar 1998
Germany recommends better banking system
Germany recommends better banking systemBy Oei Eng Goan JAKARTA (JP): Indonesia's sudden economic meltdown last July has so shocked friendly nations from within and outside the region that they are willing to lend a helping hand to try to resolve the monetary crisis the country is facing.
Wed, 25 Mar 1998
Singapore PM in Myanmar
Singapore PM in Myanmar YANGON (Reuters): Singapore's Prime Minister Goh Chok Tong arrived in the Myanmar capital yesterday for talks with the military government and the expected signing of a pact on mutual visa exemptions.
Wed, 25 Mar 1998
RI budget forecasts may be revised
RI budget forecasts may be revised SINGAPORE (Reuters): Signs this week that Indonesia has climbed back aboard the IMF bus had analysts forecasting yesterday that a new letter of intent is in the works, and with it the likelihood of updated government budget forecasts with a fresh rupiah target.
Wed, 25 Mar 1998
Rudini defends Wiranto on dialog offer to students
Rudini defends Wiranto on dialog offer to students JAKARTA (JP): Political observer Rudini said he was convinced about the sincerity of the Armed Forces offer, made through its commander Gen. Wiranto, to hold a dialog with students who have been protesting price hikes and advocating political...
Wed, 25 Mar 1998
Officer stabbed to death
Officer stabbed to death JAKARTA (JP): An army officer was killed by a mob in the basement of the three-star Sentral Hotel on Jl. Pramuka Raya, Central Jakarta, early yesterday, after he collected a woman from the hotel's discotheque, police said.Central Jakarta police chief Lt. Col.
Wed, 25 Mar 1998
Govt 'serious' about fighting Kalimantan forest fires
Govt 'serious' about fighting Kalimantan forest firesBy Sugianto Tandra JAKARTA (JP): The raging forest fires in East Kalimantan may be among the most exposed issues currently facing Indonesia, but the concerted efforts launched to fight them have gone largely unreported.
Wed, 25 Mar 1998
Police hold car parts sale
Police hold car parts sale JAKARTA (JP): City Police are holding a two-week sale of essential car parts and lubricants at the headquarters' complex, spokesman Lt. Col. E. Aritonang said yesterday.Items, sold jointly with 18 local vehicle spare parts and lubricants manufacturers, include air...
Wed, 25 Mar 1998
Skepticism around Indo-Pakistan ties
Skepticism around Indo-Pakistan tiesBy Raja Asghar ISLAMABAD (Reuters): The election of a new government in India will do little to break the deadlock in Indo-Pakistan peace talks, analysts said in Pakistan.
Wed, 25 Mar 1998
Where to go in Surabaya:
Where to go in Surabaya:Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128: - The Tavern Pub: Cosindos Band, daily except Sunday 9 p.m. to 1 a.m., Hazztoria Band, live music performance on Sunday, 8:30 p.m. to 12:30 a.m.
Wed, 25 Mar 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on March 24, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 700 0 0 AHAP Insurance 500 0 0 Alter Abadi 575 0 0 Alumindo Light Metal 375 -25 440,500 Alumindo...
Wed, 25 Mar 1998
39 street walkers escape detention
39 street walkers escape detention BOGOR, West Java (JP): Public order officers from the Bogor mayoralty rounded up 39 prostitutes and transvestites Monday night.They were temporarily accommodated in a house in Sukamulya subdistrict, but fled after bribing an officer yesterday.
Wed, 25 Mar 1998
Fears on impact of Asian crisis overblown, says WTO
Fears on impact of Asian crisis overblown, says WTO GENEVA (AFP): Fears that limping Asian economies will export their way back to health, harming business in developed economies, are unjustified, the World Trade Organization said in a report issued yesterday.But a slowdown in Asian and U.S.
Wed, 25 Mar 1998
PBSI to probe missing $250,000
PBSI to probe missing $250,000 JAKARTA (JP): The Badminton Association of Indonesia (PBSI) has set up a four-person team to track down contract money worth US$250,000 from Japanese sports equipment maker Yonex.Association secretary-general Leo Ch.
Wed, 25 Mar 1998
Closer Europe-Islamic world relations urged
Closer Europe-Islamic world relations urged KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad called yesterday for closer cooperation and understanding between Europe and the Moslem world to improve relations.
Wed, 25 Mar 1998
Aussie to benefit from credit guarantees
Aussie to benefit from credit guarantees SYDNEY (Dow Jones): Australia's cotton growers are confident they will be able to tap up to US$250 million in emergency export credit guarantees provided by the Australian government to facilitate trade with Indonesia, an industry official said.
Wed, 25 Mar 1998
Suspects named in soccer scam
Suspects named in soccer scam JAKARTA (JP): Police officially named six suspects yesterday in an alleged match-fixing and bribery scam during the Indonesian League from 1994 to 1997.City Police spokesman Lt. Col. E.
Wed, 25 Mar 1998
Pancasila University students explain
Pancasila University students explain On March 18 The Jakarta Post reported on Students continue pressure for reform. We, the senate of Pancasila University students wish to make the following remarks on the report.1.
Wed, 25 Mar 1998
Rights body urges NGOs to help overseas workers
Rights body urges NGOs to help overseas workers JAKARTA (JP): The National Commission on Human Rights is urging non-governmental organizations (NGOs) to take concrete steps to help Indonesian workers overseas, including the tens of thousands of illegal migrants currently facing deportation from...
Wed, 25 Mar 1998
RP trade deficit falls
RP trade deficit falls MANILA (AFP): The Philippines' merchandise trade deficit fell 37.4 percent from a year earlier to US$717 million in January, the National Statistics Office said here yesterday.Export receipts rose 25 percent to $2.115 billion while import payments dipped 0.2 percent to $2.