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Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 14, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 750 25 7,000 Alumindo Light Metal 225 -25 20,000 Alumindo...

Ship fares rise 30 percent

Ship fares rise 30 percent MANADO, North Sulawesi: The tariff for economy class tickets on passenger ships here has gone up 30 percent.Antara reported yesterday that Governor E.E. Mangindaan had signed a letter Wednesday approving the increase from Rp 99 per kilometer for each passenger to Rp 129.

Palmoil quiet in Europe as traders watch Indonesia

Palmoil quiet in Europe as traders watch Indonesia LONDON (Reuters): Crude palm oil sellers were unchanged at the opening of the European vegetable oil market yesterday despite the increasing unrest in Indonesia.

Estrada warns poll cheaters

Estrada warns poll cheaters MANILA (Reuters): Joseph Estrada, whom many in the Philippines except his top rival believe has won the presidential election, warned officials not to cheat him of victory.An unofficial count showed him leading by over one million votes.

Gen. Wiranto apologizes for shootings

Gen. Wiranto apologizes for shootings JAKARTA (JP): The Armed Forces formally apologized for the fatal shooting of four Trisakti University students on Tuesday and said that three soldiers were killed when rioting erupted in many parts of Jakarta yesterday.

TV today

TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Tom and Jerry Kids 3:05 Sports: Topik Olah Raga 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cepat Tepat 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara...

Stop the rampage

Stop the rampage Every thinking person must be appalled by the anarchy -- there really is no other word for it -- that engulfed much of Jakarta yesterday. For two days in a row since Wednesday, the day following the tragic death of four demonstrating students at Jakarta's Trisakti University, the...

Business community nervous about change in leadership

Business community nervous about change in leadership The death of four students on Tuesday ignited riots and heightened social and political tension. Economist Sri Mulyani Indrawati, vice chairwoman of the University of Indonesia's Center for Social and Economic Studies, discusses the impact of...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on May 14, 1998: Buying Selling Rp Rp U.S. dollar 1 11,000.00 12.000.00Austrian shilling 925.70 908.30Australian dollar 1 6,926.40 7,457.60Belgian franc 1 302.00 323.70Canadian dollar 1 7,634.

A lamentable tragedy

A lamentable tragedy Media reports of the recent bloody incident at Trisakti University have prompted much reaction from almost every segment of society. Students staged commemorations on their own respective campuses and at Trisakti University in a show of solidarity for their dead colleagues.

Outbound flights fully booked

Outbound flights fully booked JAKARTA (JP): Bookings for outbound flights registered a dramatic rise yesterday as foreigners and frightened locals fled the tumultuous city.The director of Iwata Nusantara Tours and Travel, Meity Robot, said yesterday computer data showed that all yesterday's flights...

E-com needs new balanced interests

E-com needs new balanced interestsBy Djauhari Oratmangung and Wiwit Wisatyo JAKARTA (JP): At the threshold of the 21st century, developed and developing nations alike are challenging themselves to action structural reform or modernization in society based on the key paradigms globalization,...

Emerging market fund manager loads up in Indonesia

Emerging market fund manager loads up in Indonesia NEW YORK (Dow Jones): Emerging markets hedge fund manager Edward Bozaan is quietly loading up on shares of undervalued companies in Indonesia despite the country's escalating political tension.

Indonesia's neighbors concerned over riots

Indonesia's neighbors concerned over riots KUALA LUMPUR (Agencies): Malaysia said yesterday that it is concerned over unrest in Indonesia and is closely monitoring the situation."We are of course concerned, monitoring this very closely," Deputy Prime Minister Anwar Ibrahim told reporters.

Rupiah slumps below Rp 11,000 as unrest intensifies

Rupiah slumps below Rp 11,000 as unrest intensifies JAKARTA (JP): The rupiah slumped to below Rp 11,000 to the U.S. dollar and share prices continued their plunge yesterday amid the worsening political situation and widespread social unrest in the capital.

Malaysia Airlines says planes from Jakarta full

Malaysia Airlines says planes from Jakarta full KUALA LUMPUR (Reuters): Malaysia Airlines (MAS) said yesterday that its planes from Jakarta were full, but it did not know if the strong demand for seats was due to riots in the Indonesian capital or the return of Malaysians from holiday.

Mobs rule streets as riots rock the city

Mobs rule streets as riots rock the city JAKARTA (JP): Mobs ruled the city's streets yesterday.It was a day when crowds, motorists and motorcyclists did not have to bother about traffic signs or traffic laws.

New Jakarta Ensemble to perform in New York

New Jakarta Ensemble to perform in New York JAKARTA (JP): New Jakarta Ensemble will make its North American debut with a unique mix of East and West at the Asia Society in New York next week.Using drums, wood blocks, Tibetan singing bowls, bells, flutes, gongs and other instruments from Indonesia...

KL, Jakarta agree on ICJ ruling

KL, Jakarta agree on ICJ ruling JAKARTA (JP): Indonesia and Malaysia have formally agreed to accept any future ruling made by the International Court of Justice (ICJ) on the disputed Sipadan and Ligitan islands.

Govt sets resource rent taxes at six percent

Govt sets resource rent taxes at six percent JAKARTA (JP): The government has introduced resource royalty provisions, or rent taxes, on the country's timber companies to replace mandatory forest royalties.According to Government Regulation No.

Caring for the 'little people'

Caring for the 'little people'From RepublikaIt is the little people who suffer most because of the increase in fuel prices. It is practically a certainty that there will be very bad social upheavals which will bring the country into further chaos.

Hot debate over Soeharto's offer to step aside

Hot debate over Soeharto's offer to step aside JAKARTA (JP): President Soeharto's reported remarks that he was prepared to resign if people no longer trusted him provoked a wide debate here yesterday, in spite of a correction by Foreign Minister Ali Alatas from Cairo.

Foreign wholesalers banned

Foreign wholesalers banned JAKARTA (JP): The government has prohibited foreign wholesalers and distributors from entering the domestic retail market.A decree issued by State Minister of Investment Sanyoto Sastrowardoyo on Wednesday states that the ban came into effect April 30, Antara reported...

Pertamina ready for free market

Pertamina ready for free market JAKARTA (JP): State oil and gas company Pertamina is beefing up its operations to enable it compete with multinational oil companies in the distribution and sale of fuel in the domestic market.

Protesters take over radio station in Semarang

Protesters take over radio station in Semarang JAKARTA (JP): Thousands of student protesters in the Central Java capital of Semarang, joined by hundreds of city residents, took over the state-owned Radio Republik Indonesia station yesterday forcing the radio station to air their demands for reform.

Transportation fees

Transportation feesFrom Media IndonesiaTo accept the price increase of gasoline is like swallowing a bitter pill for the society, otherwise our state budget will have to shoulder a heavy burden if subsidies must be retained.

Hang Seng's exposure to RI

Hang Seng's exposure to RI HONG KONG (Reuters): Hang Seng Bank Ltd. said yesterday it had very limited exposure to Indonesia."Our exposure to Asian countries is immaterial," a bank spokeswoman said. "Our main focus is Hong Kong.

Coffee sharply increases

Coffee sharply increases LONDON (Reuters): LIFFE robusta coffee raced higher yesterday morning as worries over Indonesia's worsening social unrest and market talk of Vietnamese and Indonesian origin defaults sparked speculative buying.

Nuclear tests shift strategic balance in Asia

Nuclear tests shift strategic balance in AsiaBy Olaf Jahn HONG KONG (DPA): India has suddenly pushed itself into the ranks of key players in any calculation of Asia's strategic balance. The shockwaves from its unexpected nuclear tests have been felt as far away as Japan and Indonesia, and very...

Students hit by crisis

Students hit by crisis YOGYAKARTA: Some 4,000 Gadjah Mada University students may have to take a vacation from their studies because of financial difficulties, its rector, Ichlasul Amal, said here Wednesday.

Foreign embassies urge their nationals to show caution

Foreign embassies urge their nationals to show caution JAKARTA (JP): The United States embassy here issued a travel warning urging U.S. citizens to defer non-essential travel to Indonesia and suggesting that those working here may wish to consider leaving the country due to the deteriorating...

S&P assigns 'B-' to APP

S&P assigns 'B-' to APP JAKARTA (JP): International rating agency Standard & Poor's assigned a "B-" long-term rating yesterday to APP Finance (VII) Mauritius Ltd.'s US$500 million convertible notes due April 2003.

Rizal Nurdin elected governor

Rizal Nurdin elected governor MEDAN, North Sumatra: Maj. Gen. T. Rizal Nurdin, the former chief of Bukit Barisan Military Command, saw off challenges from rivals Usman Pelly and A.M. Situmorang and was elected North Sumatra governor for 1998/2003 yesterday.

Government critics ask Soeharto to step down

Government critics ask Soeharto to step down JAKARTA (JP): A group of 44 leading government critics, including Amien Rais, senior journalist Goenawan Mohamad and senior economist Emil Salim, established the Majelis Amanah Rakyat (Council for People's Mandate) last night and demanded President...

First Pacific says RI exposure at minimal level

First Pacific says RI exposure at minimal level HONG KONG (Reuters): First Pacific Co Ltd said yesterday the company's exposure to Indonesia was minimal with less than one percent of its profit derived from the country.

Student demonstrations continue

Student demonstrations continue JAKARTA (JP): Thousands of university students in the city continued to demonstrate yesterday by holding free-speech forums on their campuses.At the University of Indonesia (UI) campus in Salemba, Central Jakarta, students gathered to hear speeches by, among others,...

Deutsche closes RI units

Deutsche closes RI units SINGAPORE (Reuters): Deutsche Bank AG said yesterday it had temporarily closed its branches in Jakarta and Surabaya, Indonesia."Due to the deterioration of the situation in Indonesia we have taken the decision to temporarily close our branches in Jakarta and Surabaya," the...

Religious leaders decry violence

Religious leaders decry violence JAKARTA (JP): Religious leaders of different faiths in the country joined hands yesterday in deploring the widespread violence of recent days, imploring all parties to show restraint.

Asian markets sweat over Indonesia meltdown fears

Asian markets sweat over Indonesia meltdown fears SINGAPORE (Reuters): A third day of anti-government riots in Jakarta cut short an early rebound on most Asian markets yesterday as traders again quaked in the shadow of Indonesia's worsening social and political crisis.

Bangkok Bank quits Jakarta

Bangkok Bank quits Jakarta BANGKOK (Reuters): Bangkok Bank Plc. said yesterday it had suspended banking operation in Jakarta due to spreading riots.A Bangkok Bank executive said his bank had informed Indonesian and Thai central bank authorities of what he called a temporary business suspension in...

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Art Exhibition: Works of Suromo, at Lontar Gallery, Jl. Utan Kayu 68 H East Jakarta (Phone: 8573388), 10 a.m. to 8 p.m., until May 28. * Painting Exhibition: Study for Distance by Hanafi, at Galerie Focus, Jl. Kemang Selatan X B No.

People enraged by the shooting of four protesting students

People enraged by the shooting of four protesting students JAKARTA (JP): Outrage over the killing of four students at Trisakti University was clearly evident yesterday, with many people demanding top Armed Forces (ABRI) officials make a public apology and be held accountable for the deaths.

Groundwater supplies not exempt from tax

Groundwater supplies not exempt from tax JAKARTA (JP): The city administration is planning a bylaw requiring people and institutions to pay tax on the use of groundwater and surface water if they use over 50 cubic meters a month, a city councilor said yesterday.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 13, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 725 -200 2,500 Alumindo Light Metal 250 -50 157,000 Alumindo...

Where to go in Surabaya:

Where to go in Surabaya:Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128 (Phone: 031 5311234): - The Tavern Pub: Hazztoria Band, daily except Sunday 9 p.m. to 1 a.m. - Atrium Lounge: Solo Pianist, Monday to Friday, 7 p.m. to 10:45 p.m., Saturday at 7 a.m. to 11 p.m.

HSBC takes measures on RI

HSBC takes measures on RI HONG KONG (Reuters): The Hongkong and Shanghai Banking Corp, a unit of HSBC Holdings Plc, said yesterday it was taking steps to ensure it would get back billions of U.S. dollars in loans to Indonesian businesses.

Jakarta has new vice governor

Jakarta has new vice governor JAKARTA (JP): Minister of Home Affairs R. Hartono installed Budihardjo Soekmadi as the new deputy governor for development affairs Tuesday.Budihardjo, who retains his position as head of the city's Development Planning Board (Bappeda) which he has held since 1995,...

Malonda, KPMG not suspended

Malonda, KPMG not suspended JAKARTA (JP): Public accounting firm Johan, Malonda & Partners denied reports yesterday that the Capital Market Supervisory Agency (Bapepam) had suspended its license to operate in the capital market.

Students help the nation restart healing process

Students help the nation restart healing processBy Mochtar Buchori JAKARTA (JP): Gen. Wiranto's revelation that the Armed Forces have never been involved in the kidnapping of student' activists has been received by the public with a great sense of relief.

Australian dollar falls to twelve-year low

Australian dollar falls to twelve-year low SYDNEY (Agencies): The Australian dollar sank below 63 U.S. cents yesterday to its lowest levels since the "Banana Republic" days of 1986, as violence in Indonesia and fresh bad news from Japan deepened investors' disillusionment with Asia.