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Wed, 12 Aug 1998
SE Asian currencies remain flat due to spiraling yen
SE Asian currencies remain flat due to spiraling yen SINGAPORE (Dow Jones): The breathtaking plunge of the Japanese yen to new eight-year lows dragged Southeast Asian currencies into a vicious downward spiral during Asian trading yesterday.As stock markets throughout the region plummeted, the U.S.
Wed, 12 Aug 1998
Rupiah fails to rally, stocks plunge further
Rupiah fails to rally, stocks plunge further JAKARTA (JP): The rupiah remained weak yesterday as the yen's slide against the U.S. dollar continued to cast a gloomy shadow over regional currencies.Fears of a possible riot ahead of Indonesian Independence Day on Aug.
Wed, 12 Aug 1998
New Mr. and Miss Jakarta crowned
New Mr. and Miss Jakarta crowned JAKARTA (JP): The Jakarta Tourist Office crowned Leonard Abdul AD and Dessy Syarif as the new Abang and None (Mr. and Miss) Jakarta at City Hall on Monday night, a tourist official said.
Wed, 12 Aug 1998
Detained Indonesians 'treated well in Yangon'
Detained Indonesians 'treated well in Yangon' JAKARTA (JP): Three Indonesian activists detained since Sunday in Myanmar for allegedly distributing pro-democracy leaflets are being treated well, Indonesian Ambassador Poerwanto Lenggono said in Yangon yesterday.
Wed, 12 Aug 1998
Sugar mart up on RI hedging
Sugar mart up on RI hedging LONDON (Reuters): White sugar futures firmed on trade hedging ahead of a rescheduled Indonesian tender, traders said."The market's up on Indonesia pre-hedging," said a futures trade manager, noting that CSCE raws firmer close on Monday was also encouraging.
Wed, 12 Aug 1998
Singapore's economy slows sharply in second quarter
Singapore's economy slows sharply in second quarter SINGAPORE (DPA): Singapore's economy slowed sharply in the second quarter of this year as Asia's economic crisis continued to bite, and the outlook remains bearish, the government announced yesterday.
Tue, 11 Aug 1998
JSX asked to refrain from delisting firms
JSX asked to refrain from delisting firms JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) has asked the local stock exchanges to be more tolerant of poorly performing companies.Bapepam chairman Jusuf Anwar said that stock exchange operators should not delist ailing companies even...
Tue, 11 Aug 1998
On Irian Jaya issue
On Irian Jaya issue The Page 2 article titled Churches back calls for Irian Jaya Independence published on Aug. 3 clearly shows that churches support the movement for Irian Jaya's independence. To clarify the matter, I feel the need to convey the following:Recently there has been political...
Tue, 11 Aug 1998
Drugstore owner busted for selling marijuana
Drugstore owner busted for selling marijuana JAKARTA (JP): Police have arrested a man who used his traditional medicine shop on Jl. Sahardjo in Tebet, South Jakarta, as a front for drug dealing, an officer said yesterday.The head of the city police Narcotics Detective Unit Lt. Col.
Tue, 11 Aug 1998
Marketing office torched in clash
Marketing office torched in clash DEPOK (JP): A marketing office building in the Telaga Golf Sawangan housing complex here was torched Friday night when hundreds of nearby residents clashed with the complex's security guards, a police officer said Saturday.Depok Police Chief Lt. Col.
Tue, 11 Aug 1998
Not all parties will contest general election: Expert
Not all parties will contest general election: Expert JAKARTA (JP): The newly found greater political freedom allows anyone to establish a political party but the political laws being drafted will apply tight screening procedures so that not all of the parties will be able to contest the general...
Tue, 11 Aug 1998
Manila raises interest rate
Manila raises interest rate MANILA (AP): The Philippine Central Bank announced yesterday it will raise its key overnight borrowing rate to 15 percent from 13 percent in an effort to slow the peso's rapid depreciation.
Tue, 11 Aug 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 10, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 325 0 10,000 AHAP Insurance 400 100 3,500 Alter Abadi 400 -25 5,000 Alumindo Light Metal 375 0 0...
Tue, 11 Aug 1998
Eating out? Wait a minute, it's crisis time
Eating out? Wait a minute, it's crisis timeBy Rita A. Widiadana JAKARTA (JP): The clock strikes 12 noon. Time for lunch. Hundreds of workers, housewives and their children flock to family restaurants in the city's malls or to more sophisticated cafes in the basements of office buildings and hotels.
Tue, 11 Aug 1998
Where to go in Bandung:
Where to go in Bandung:Exhibition * Arts Exhibition by Tanto and Kipli, at Galeripadi, Jl. Ir. H. Juanda 329 (Phone: 022 2500578), until Aug. 23.Performances * Poetry Reading, An evening with Indonesian and German Poetry, by Hamid Jabbar and Berthold Damshuser, the 'musique automatique' of...
Tue, 11 Aug 1998
IPTN needs more than five years to turn around
IPTN needs more than five years to turn around JAKARTA (JP): It will take more than five years to turn around ailing state-owned aircraft maker PT Industri Pesawat Terbang Nusantara (IPTN), a government official said yesterday.
Tue, 11 Aug 1998
Bans on PRD, critical book lifted, court rules
Bans on PRD, critical book lifted, court rules JAKARTA (JP): A court has lifted the ban on the Democratic People's Party (PRD) which was blamed for the July 1996 riots and the Attorney General's Office has overturned the ban on a book written by labor leader Muchtar Pakpahan.
Tue, 11 Aug 1998
DKP points finger at Prabowo
DKP points finger at Prabowo JAKARTA (JP): The abduction of political activists were not ordered by the Armed Forces' (ABRI) top brass, but were carried out because of then Army Special Force (Kopassus) chief Lt. Gen.
Tue, 11 Aug 1998
Rainfall in many areas above normal
Rainfall in many areas above normal JAKARTA (JP): Rain in Jakarta, the northern areas of West Java, Yogyakarta and large parts of East Java, Sumatra, Central and South Kalimantan and Sulawesi will continue to fall in above normal frequencies for the remainder of the month, the Meteorology and...
Tue, 11 Aug 1998
Exchange program to be set up
Exchange program to be set up JAKARTA (JP): Indonesia and Malaysia have agreed to start a program to exchange educational staff, students and academicians.The memorandum of agreement was signed here yesterday by Indonesian Minister of Education and Culture Juwono Sudarsono (right) and his Malaysian...
Tue, 11 Aug 1998
Talk show halted in midbroadcast
Talk show halted in midbroadcast JAKARTA (JP): A political talk show on private TV station Indosiar abruptly went off the air in midbroadcast last night, with the station later blaming the interruption on "technical" problems.
Tue, 11 Aug 1998
Utut moves to third place in MK Cafe Cup
Utut moves to third place in MK Cafe Cup JAKARTA (JP): Grand Master (GM) Utut Adianto of Indonesia jumped to third place in the provisional standings at the MK Cafe Cup chess tournament in Koszalin, Poland, following two straight victories over the weekend.
Tue, 11 Aug 1998
Jakarta market plunges over bearish sentiment
Jakarta market plunges over bearish sentiment JAKARTA (JP): Rupiah started the week weaker yesterday in line with the falling yen and the bearish domestic sentiment, and the local bourse followed suit.Currency dealers said the trading volume of the rupiah-dollar was thin, which they attributed to...
Tue, 11 Aug 1998
IMF to disburse another $1 billion this month
IMF to disburse another $1 billion this month JAKARTA (JP): The International Monetary Fund (IMF) will disburse the next $1 billion loan payment to Indonesia at the end of this month, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said yesterday.
Tue, 11 Aug 1998
Jakartans warned to be ready for huge flooding
Jakartans warned to be ready for huge flooding JAKARTA (JP): The Meteorology and Geophysics Agency (BMG) warned Jakartans yesterday to prepare themselves against the possibility of massive flooding due to the impact of the La Nina weather phenomenon.
Tue, 11 Aug 1998
Grand peat land project sacrifices local people
Grand peat land project sacrifices local peopleBy Stevie Emilia JAKARTA (JP): Gone are the years when Sumiadi earned enough money from his rattan field and fish ponds to send his children to good schools outside his village in Sungai Jaya, Central Kalimantan.
Tue, 11 Aug 1998
KONI may get profit share
KONI may get profit share JAKARTA (JP): Managing director of the Senayan sports complex Yasidi Hambali ruled out yesterday the possibility of handing over management of the venues to the National Sports Council or State Minister of Youth Affairs and Sports office, but said they deserved a share of...
Tue, 11 Aug 1998
Habibie inaugurates six bridges in Batam
Habibie inaugurates six bridges in Batam JAKARTA (JP): President B.J. Habibie yesterday inaugurated a Rp 369.9 billion (US$26.4 million) highway with six bridges connecting Batam island to nearby islands in Riau province, and disclosed plans to build a bridge connecting Java and Sumatra.
Tue, 11 Aug 1998
S&P expects more sovereign defaults
S&P expects more sovereign defaults LONDON (Reuters): Sovereign credit rating cuts so far this year outnumber rating rises and countries defaulting on debts are expected to increase in the coming decade, a study by rating agency Standard & Poor's said yesterday.
Tue, 11 Aug 1998
Brunei heir established
Brunei heir established BANDAR SERI BEGAWAN (AP): A wide-eyed 24-year-old with a passion for snooker and Bon Jovi was installed yesterday as heir to one of the world's richest monarchies.Amid Islamic prayers and booming guns, Sultan Hassanal Bolkiah passed on a jeweled Malay dagger to his eldest...
Tue, 11 Aug 1998
Rich and poor alike affected by Malaysian water shortage
Rich and poor alike affected by Malaysian water shortageBy Beth Duff-Brown PUCHONG, Malaysia (AP): For nearly 2,000 people in this low- income housing project, going eight days without water simply confirmed their belief that Malaysian officials had forgotten them.
Tue, 11 Aug 1998
Hotel Ciputra beats 'Post' 3-1
Hotel Ciputra beats 'Post' 3-1 JAKARTA (JP): Hotel Ciputra beat The Jakarta Post 3-1 yesterday in their Group A opening match of the Hotel-Media soccer tournament at ABC Senayan field in Central Jakarta.Ciputra led the match 1-0 at halftime.
Tue, 11 Aug 1998
Dar es Salaam bomb suspects held
Dar es Salaam bomb suspects held NAIROBI (Reuters): The Tanzanian government said yesterday it had detained some suspects in the bombing of the U.S. embassy in Dar es Salaam, as delicate efforts continued to rescue a survivor from the more deadly blast at the U.S. mission in Kenya.
Tue, 11 Aug 1998
Brawl turns into townwide fracas
Brawl turns into townwide fracas JAYAPURA, Irian Jaya: A fight turned into a townwide melee in Nabire yesterday morning, resulting in the destruction of two major markets and the local council building.
Tue, 11 Aug 1998
Lampung villagers go to rights body
Lampung villagers go to rights body JAKARTA: A delegation representing some 1,000 villagers from Bakung Udik, Tulangbawang regency in Lampung submitted a complaint to the National Commission on Human Rights here yesterday over what they claim was the unjust appropriation of their land in 1992.
Tue, 11 Aug 1998
Asia palm oil prices mixed, RI supply up
Asia palm oil prices mixed, RI supply up KUALA LUMPUR (Reuters): Palm oil markets in Asia are likely to be mixed this week with Indonesian prices expected to soften because of anticipation that the Bulog commodity regulator would release its stocks into the market to boost supply.
Tue, 11 Aug 1998
Dialog must be maintained
Dialog must be maintained Although there is a long way to go before all the wrongs imposed on the Indonesian people can be addressed, the political reforms begun by the government of President B.J. Habibie offer hope of a national healing process.
Tue, 11 Aug 1998
The PDI in an era of change
The PDI in an era of change The Indonesian Democratic Party (PDI) led by Megawati Soekarnoputri completed its national conference smoothly and without a hint of trouble over the weekend. This signals quite a considerable progress for Megawati's PDI in terms of its relationship with the government.
Tue, 11 Aug 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:35 Children's Film: The Big Valley 3:05 Children's Program: Tunas 3:30 Village Program 4:00 Regional News 4:30 Music: Lagu Pop Daerah 5:00 English Lessons 5:30 Documentary: Upacara Adat Panjang Jimat 6:00 News: Lintasan Berita 6:05 Documentary: Rona...
Tue, 11 Aug 1998
City told to simplify joint venture running
City told to simplify joint venture running JAKARTA (JP): A city councilor underlined yesterday the necessity to simplify management of the city's joint ventures with private companies in the campaign to whip them into better financial shape.
Tue, 11 Aug 1998
Experts urge legislators to revoke MPRS decree
Experts urge legislators to revoke MPRS decree JAKARTA (JP): Legal experts urged legislators yesterday to revoke the Provisional People's Consultative Assembly (MPRS) Decree No. XX/1966, thereby paving the way for constitutional amendments.
Tue, 11 Aug 1998
Indonesian economy not ruined (2)
Indonesian economy not ruined (2)By C.J. de Koning This is the second of two articles on the Indonesian currency. JAKARTA (JP): Managing risks of foreign currency lending to Indonesia in general requires across-the-board transparency.
Tue, 11 Aug 1998
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Aug. 10, 1998: Buying Selling Rp Rp U.S. dollar 1 12,800 13,500Austrian shilling 1 969 1,099Australian dollar 1 7,499 7,948Belgian franc 1 343 361Canadian dollar 1 8,268 8,706Swiss franc 1 8,411...
Tue, 11 Aug 1998
Doomsday near?
Doomsday near? What can be done and who can ease the pain of the victims of the recent riots?I believe that the local government should bear responsibility for the losses suffered by the local residents (Indonesians of Chinese descent as well as Chinese residents) because the government is...
Tue, 11 Aug 1998
Habibie vows not to repeat mistakes of his predecessor
Habibie vows not to repeat mistakes of his predecessor JAKARTA (JP): President B.J. Habibie promised yesterday not to repeat the mistakes of his predecessor Soeharto who prioritized economic growth at the expense of wealth distribution.
Tue, 11 Aug 1998
SE Asian currencies slide in thin trading
SE Asian currencies slide in thin trading SINGAPORE (Dow Jones): The seemingly unstoppable slide of the yen dragged most Southeast Asian currencies lower yesterday.Even with transaction volumes greatly diminished by the closure of trading rooms in Singapore for a public holiday marking Sunday's...
Tue, 11 Aug 1998
INRO considers rubber market intervention
INRO considers rubber market intervention SINGAPORE (Dow Jones): The International Natural Rubber Organization has inquired about buying rubber from dealers, exporters and producers in Asia, after the rubber group's five- day Daily Market Indicator Price breached the "may buy" intervention level,...
Tue, 11 Aug 1998
Competition policy a must for RI to be competitive
Competition policy a must for RI to be competitiveBy Bob Widyahartono President B.J. Habibie has initiated the establishment of an Agency for the Empowerment of Indonesian Competitiveness. Such an agency sounds attractive but a thorough analysis of the competitive power of companies' strategic...
Tue, 11 Aug 1998
Hotel workers act as foster parents
Hotel workers act as foster parents JAKARTA (JP): Fifty employees of Hotel Ciputra have agreed to act as foster parents to 69 orphanage children and finance the cost of their education, an executive of the hotel said Saturday.
Tue, 11 Aug 1998
Japanese teacher aids needy Tangerang children
Japanese teacher aids needy Tangerang children JAKARTA (JP): A Japanese teacher presented cash donations and school supplies which she collected in her small prefecture in Fukuoka province to children of state schools in Tangerang yesterday.