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Fri, 12 Jun 1998
RI firm hold chunk of Peregrine assets
RI firm hold chunk of Peregrine assets HONG KONG (Reuters): Most of the assets of Peregrine Fixed Income Ltd are in the hands of parties whose credit worthiness is suspect, Price Waterhouse partners and liquidators of the Peregrine Investments Holdings Ltd unit said.
Fri, 12 Jun 1998
Rupiah touches 15,000 against dollar
Rupiah touches 15,000 against dollar JAKARTA (JP): The rupiah sank again yesterday, breaking the 15,000 level against the U.S. dollar in moderate trading before rebounding slightly in the afternoon to end the trading day at 13,750.
Fri, 12 Jun 1998
Government to probe use of refoirestation funds
Government to probe use of refoirestation funds JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution said yesterday the use of the reforestation funds to finance businesses owned by former president Soeharto's family and cronies was being investigated.
Fri, 12 Jun 1998
Pertamina to open tender
Pertamina to open tender SINGAPORE (Reuters): Indonesian state oil company Pertamina will issue a tender for its July crude and products imports, a company official said yesterday.But he was uncertain when the tender would be issued and what volumes Pertamina was looking to buy.
Fri, 12 Jun 1998
Over 100 housing costumers protest BII's interest rates
Over 100 housing costumers protest BII's interest rates JAKARTA (JP): More than 100 customers of Bank Internasional Indonesia (BII) protested yesterday an increase in their home loan interest rate, while separately more than 200 people insisted a developer return their down payments.
Fri, 12 Jun 1998
Celebrating Philippine independence
Celebrating Philippine independence June 12, 1998, marks the centenary of the declaration of Philippine independence from Spain, perhaps the most awaited event in Philippine historiography since the end of American colonial rule in 1946.
Fri, 12 Jun 1998
Eritrea attacks on new front: Ethiopian claim
Eritrea attacks on new front: Ethiopian claim ADDIS ABABA (Reuters): Ethiopia said yesterday that Eritrea had launched a new attack at the eastern end of their border, close to the Red Sea port of Assab.
Fri, 12 Jun 1998
PAL flight attendants threaten to join strike
PAL flight attendants threaten to join strike MANILA (AP): Flight attendants and ground crew of troubled Philippine Airlines threatened yesterday to join a strike by about 600 pilots if the company institutes layoffs in a move to cut costs.
Fri, 12 Jun 1998
Annan welcomes release of East Timor prisoners
Annan welcomes release of East Timor prisoners UNITED NATIONS (Agencies): United Nations Secretary-General Kofi Annan welcomed news Wednesday that President B.J. Habibie had signed a decree for the release of 15 East Timorese political prisoners and said he hoped this would lead to the freeing of...
Fri, 12 Jun 1998
Southeast Asian currencies perk up
Southeast Asian currencies perk up SINGAPORE (Dow Jones): Southeast Asian currencies recovered from morning lows in afternoon trading yesterday as the Japanese yen touched, but failed to break through, the key psychological level of 142 to the U.S. dollar.
Fri, 12 Jun 1998
Residents protest waste pollution
Residents protest waste pollution MEDAN, North Sumatra: Over 200 residents of Bedagai village, Tanjung Beringin subdistrict in Deli Serdang regency staged a protest in front of the provincial legislature here yesterday against a tapioca factory which they said was dumping industrial waste into the...
Fri, 12 Jun 1998
Sick yen piles on torment for Asia
Sick yen piles on torment for Asia SINGAPORE (Reuters): Asia's markets took another dive yesterday, as nerves over the weak yen and its impact on regional economies swept trading floors for the second straight day.
Fri, 12 Jun 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film 3:05 Music Lessons: Musik Angklung 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara...
Fri, 12 Jun 1998
AMT escapes RI crisis
AMT escapes RI crisis SINGAPORE (Reuters): Electronics contract manufacturer PT Astra Microtronics Technology (AMT) has escaped Indonesia's economic crisis and expects sales to rise more than 10 percent this year, a senior official said yesterday.
Thu, 11 Jun 1998
Bogor Police asked to reexamine three students in Dadang case
Bogor Police asked to reexamine three students in Dadang case JAKARTA (JP): Bogor Police have been urged to requestion three students from Juanda University who were charged with beating a police officer to death.
Thu, 11 Jun 1998
Two wounded in armed robbery
Two wounded in armed robbery JAKARTA (JP): A father and son were severely wounded in an armed robbery yesterday at their residence on Jl. Damai Gg. Musyawarah No. 27 in Pondok Labu, Cilandak, South Jakarta.
Thu, 11 Jun 1998
Garuda clips its wings to ride out economic crisis
Garuda clips its wings to ride out economic crisis JAKARTA (JP): Crippled by the economic crisis and pressured by its employees, the financially distraught national flag carrier Garuda Indonesia promised yesterday to sever links with companies linked to Soeharto's family and cronies and return...
Thu, 11 Jun 1998
Tangerang hit by two demonstrations
Tangerang hit by two demonstrations TANGERANG (JP): Protesters called for the mayor's resignation here yesterday, while a separate demonstration demanded a major company clarify the status of its workers.
Thu, 11 Jun 1998
1,500 workers demand total labor law reform
1,500 workers demand total labor law reform JAKARTA (JP): More than 1,500 workers from the metal, electronics, machines and tourist sectors staged a boisterous demonstration at the Ministry of Manpower here yesterday, demanding the revocation of the 1997 labor law and thorough reform of the...
Thu, 11 Jun 1998
The pot calling the kettle black?
The pot calling the kettle black?From KompasOn May 21, 1998, an event of historic significance to the entire Indonesian people occurred as there was a peaceful change in the national leadership. As a good citizen, I would like to call on various circles and groups not to have an a priori dislike...
Thu, 11 Jun 1998
Help Indonesia now
Help Indonesia now After three decades of stultifying dictatorship, Indonesians have enjoyed two weeks of remarkable political freedom, marked equally by exuberance and self-restraint. There is a sense in the world's fourth most populous nation that the future is up for grabs.
Thu, 11 Jun 1998
Asian Amex card debts minimal
Asian Amex card debts minimal SINGAPORE (Reuters): American Express Co's (Amex's) exposure to bad debts in its Asian credit card business is minimal, the firm's top regional executive said yesterday."Our credit losses in most markets other than two markets are actually better than last year at the...
Thu, 11 Jun 1998
Where to go in Surabaya:
Where to go in Surabaya:Exhibition * Photo Exhibition: Asiatica, works of 18 photographers from South-East Asia in CCF - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8:30 p.m., until June 14.Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend.
Thu, 11 Jun 1998
High interest rates prove IMF failure
High interest rates prove IMF failure HONG KONG (Dow Jones): The grip of high interest rates in Southeast Asia is showing the failure of the International Monetary Fund programs and will lead several nations to permit higher inflation, according to a Morgan Stanley & Co.
Thu, 11 Jun 1998
Cartoonist taken off wanted list
Cartoonist taken off wanted list YOGYAKARTA: The provincial prosecutor's office officially removed cartoonist Bambang Aditya Pradana, alias Yayak, from their wanted list yesterday after the artist spent seven-years on the run for allegedly drawing "subversive" pictures of former president Soeharto.
Thu, 11 Jun 1998
One man's trauma testifies to sad experiences of many
One man's trauma testifies to sad experiences of many JAKARTA (JP): "Our sweat had not fully dried after almost 10 years of hard work when our small drug store was looted and burned by rioters," Chinese-Indonesian Anton, not his real name, recalled grimly.
Thu, 11 Jun 1998
Crude market watching for RI allocations
Crude market watching for RI allocations SINGAPORE (Reuters): Asia's crude market remains dogged by weak demand, although quiet trading yesterday kept levels relatively steady.Potential sellers of July Indonesian crudes were sidelined, wary of trading before clearer information on exports emerged.
Thu, 11 Jun 1998
Groups concerned over Parti establishment
Groups concerned over Parti establishment JAKARTA (JP): An ethnic Chinese Moslem foundation, Haji Karim Oei, expressed concern here yesterday over the recent establishment of a Chinese political party, fearing that such an ethnic-based party would only aggravate animosity toward those of Chinese...
Thu, 11 Jun 1998
Sheraton Media Hotel's ownership
Sheraton Media Hotel's ownership JAKARTA (JP): One of the owners of the Sheraton Media Hotel in Central Jakarta, Surya Paloh, denied media reports that the hotel was partly owned by former president Soeharto's family.
Thu, 11 Jun 1998
FedEx resumes RI flights
FedEx resumes RI flights SINGAPORE (Reuters): Federal Express Corp (FedEx) has resumed its scheduled flights to and from Jakarta, with five times weekly service, the company said in a statement late yesterday.The U.S.
Thu, 11 Jun 1998
Myanmar to buy KL crude oil
Myanmar to buy KL crude oil KUALA LUMPUR (AP): Myanmar is buying crude oil worth US$80 million from Malaysia and an agreement on payment terms is expected Wednesday, Malaysia's national news agency reported.
Thu, 11 Jun 1998
Heavy rains, currency woe hamper RI coffee exports
Heavy rains, currency woe hamper RI coffee exports SINGAPORE (Reuters): Indonesian coffee shipments are coming out in dribs and drabs as exporters struggle to smooth the cash- strapped distribution chain, traders said yesterday.
Thu, 11 Jun 1998
Lesson from RI may be hard for Myanmar
Lesson from RI may be hard for MyanmarBy Don Pathan BANGKOK (AP): The abrupt downfall of President Soeharto in Indonesia came as a surprise for much of the world, but for the military regime in Myanmar, it was also a rude awakening.
Thu, 11 Jun 1998
BNI expects nonperforming loans to expand
BNI expects nonperforming loans to expand JAKARTA (JP): Publicly listed Bank Negara Indonesia (BNI) plans to boost its loan loss reserves to offset a sharp rise in nonperforming loans due to the economic crisis, a top official has said.
Thu, 11 Jun 1998
Marubeni sees profits for Chandra Asri in 2000
Marubeni sees profits for Chandra Asri in 2000 TOKYO (Reuters): Japanese trading house Marubeni Corp said yesterday it hopes Indonesia's giant petrochemical joint venture PT Chandra Asri will become profitable in 2000 after years of losses.
Thu, 11 Jun 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thundercats 3:05 Student's Program: Kuliah Universitas Terbuka 3:30 Science Film: Ticket to Adventure 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Arabic Lessons 5:30 TV Series 6:00 News: Lintasan Berita 6:05 My...
Thu, 11 Jun 1998
OPEC basket price plunges
OPEC basket price plunges LONDON (Reuters): The price of OPEC's basket of seven crudes fell to $11.68 a barrel on Tuesday from $12.39 on Monday, the OPEC news agency said quoting the OPEC Secretariat.The basket comprises Algeria's Saharan Blend, Indonesia's Minas, Nigeria's Bonny Light, Saudi...
Thu, 11 Jun 1998
Rescuing banks
Rescuing banks The banking industry, which lies at the root of Indonesia's economic crisis, and the central bank are now mired in a vicious circle.The government's blanket guarantee for foreign exchange and rupiah depositor and creditor claims on locally incorporated banks has been causing moral...
Thu, 11 Jun 1998
More political prisoners set to walk free today
More political prisoners set to walk free today JAKARTA (JP): President B.J. Habibie signed release papers yesterday for 16 young activists, including 15 East Timorese prisoners and detainees, Minister of Justice Muladi said.The President, through decree No.
Thu, 11 Jun 1998
PPP chairman Ismail refuses to step down
PPP chairman Ismail refuses to step down JAKARTA (JP): United Development Party (PPP) chairman Ismail Hasan Metareum brushed aside demands yesterday for him to step down, saying he would only leave the post at the end of his term.
Thu, 11 Jun 1998
Debates despite people's suffering
Debates despite people's sufferingFrom Pikiran RakyatDemands for total reform continue to resound throughout the country, from students to those who profess to be reformists. Now that B.J. Habibie has taken the place of Soeharto as president, debates go on about whether the handover was...
Thu, 11 Jun 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 10, 1998: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 500 -25 414,500 Alumindo Light Metal 300 0 55,500 Alumindo...
Thu, 11 Jun 1998
Press freedom in Indonesia
Press freedom in IndonesiaBy A.Muis UJUNGPANDANG (JP): Shortly after the resignation of president Soeharto, the reform movement pioneered by the students throughout Indonesia -- and fully seconded by the press -- has also touched on the national press law. The notorious, dreaded regulation No.
Thu, 11 Jun 1998
Rubin to visit Malaysia
Rubin to visit Malaysia KUALA LUMPUR (Reuters): U.S. Treasury Secretary Robert Rubin will visit Malaysia at the end of the month following a trip with President Bill Clinton to China, officials said yesterday.Finance Minister Anwar Ibrahim's spokesman said Rubin would make a courtesy call on Anwar.
Thu, 11 Jun 1998
Gold hunting an alternative during crisis
Gold hunting an alternative during crisisBy Kafil Yamin BANDUNG (JP): A wedding date has been set for Yadi, 37, and his fiancee, Yunyun. Yadi rushed to nearby jewelry stores to buy a pair of 24-karat gold rings. But he had difficulty finding them.
Thu, 11 Jun 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 10, 1998: Buying Selling Rp Rp U.S. dollar 1 11,900.00 13,400.00Austrian shilling 1 958.00 1,120.50Australian dollar 1 7,300.00 7,992.00Belgian franc 1 338.50 368.00Canadian dollar 1 8,526.
Thu, 11 Jun 1998
RI does not object to UNHCR asylum plan for Acehnese
RI does not object to UNHCR asylum plan for Acehnese JAKARTA (JP): Indonesia will not object the decision by the United Nations High Commissioner for Refugees (UNHCR) to arrange political asylum for 22 Acehnese who are seeking refuge at the United States embassy and UN compound in the Malaysian...
Thu, 11 Jun 1998
ABN AMRO eying more Asia acquisitions
ABN AMRO eying more Asia acquisitions BANGKOK (Reuters): Dutch banking giant ABN AMRO said yesterday it was actively seeking new acquisitions in Southeast Asia after its takeover of Thailand's Bank of Asia Plc.
Thu, 11 Jun 1998
Mochtar blasts BI's bank rescue policy
Mochtar blasts BI's bank rescue policy JAKARTA (JP): Mochtar Riady, a senior executive of a major business group, said here yesterday that Bank Indonesia's policy of rescuing the country's ailing banks may only worsen the state of the banking sector.
Thu, 11 Jun 1998
Sjafrie advises Jakartans on political activities
Sjafrie advises Jakartans on political activities TANGERANG (JP): City Military Commander Maj. Gen. Sjafrie Sjamsoeddin called on Jakartans yesterday to concentrate on their work rather than joining political activities which could threaten public safety.