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Wed, 20 May 1998
Scavengers find windfall in the ruins of Glodok
Scavengers find windfall in the ruins of Glodok JAKARTA (JP): Hundreds of scavengers scoured the burned shell of the Glodok electronics market in downtown Jakarta yesterday, collecting what was left of the buildings set ablaze by rioters on Thursday.
Wed, 20 May 1998
WB, bankers delay debt talks amid Indonesia storm
WB, bankers delay debt talks amid Indonesia storm WASHINGTON (Reuters): Big World Bank loans and talks on commercial debt rescheduling became the latest casualties on Monday of Indonesia's political storm.The World Bank, which had been due to debate $1.
Wed, 20 May 1998
Amien vows to go on with demos despite Soeharto's promise
Amien vows to go on with demos despite Soeharto's promise JAKARTA (JP): President Soeharto's promise to see through reform is not good enough and plans to hold massive demonstrations to convince him to step down will go ahead, Moslem scholar Amien Rais said.
Wed, 20 May 1998
Japan's car projects in Indonesia remain on hold
Japan's car projects in Indonesia remain on hold TOKYO (Reuters): With Indonesia mired in political and economic turmoil, Japanese carmakers that have invested heavily there are halting plants and projects, worried that a recovery may prove increasingly elusive.
Wed, 20 May 1998
Political turmoil 'could spell economic chaos'
Political turmoil 'could spell economic chaos' JAKARTA (JP): Continuing political turmoil will only serve to devastate the country's beleaguered economy and postpone the recovery processes indefinitely, economists said yesterday.
Wed, 20 May 1998
New leader needed
New leader needed Last Thursday's events showed what happens when policies of greed, extortion, vengeance and disrespect for property, which have been common among the elite in Indonesia, are emulated by a mob of ordinary people unrestrained by feeling of individual responsibility or fear of...
Wed, 20 May 1998
Officers questioned for Trisakti shootings
Officers questioned for Trisakti shootings JAKARTA (JP): At least four senior security officers have been questioned over their alleged roles in the fatal shooting of four students from Trisakti University last week, an official said yesterday.
Wed, 20 May 1998
Governor tells looters to relinquish plunder
Governor tells looters to relinquish plunder JAKARTA (JP): Governor Sutiyoso has called on residents to relinquish goods plundered during last week's riots, which saw widespread looting and wanton destruction of private and public property."Looting is haram (forbidden in Islamic law).
Wed, 20 May 1998
House formally asks Soeharto to resign
House formally asks Soeharto to resign JAKARTA (JP): The House of Representatives formally asked President Soeharto yesterday to immediately step down for the sake of the nation's unity and integrity.The decision was made in a meeting between House leaders and the leaders of the four factions:...
Wed, 20 May 1998
Jumping on the reform bandwagon
Jumping on the reform bandwagon The current reform drive appears to have been given considerable added momentum yesterday (Monday) by the House of Representatives. Amid the cheers of students and leading critics the chairman and vice chairmen of the House, who have thus far been accused of dragging...
Wed, 20 May 1998
Caught in the cross fire -- people reflect on the riots
Caught in the cross fire -- people reflect on the riots JAKARTA (JP): To Indonesians nationwide, the May 14 incident will be remembered as a day of burning, rampant looting and the unnecessary loss of hundreds of lives.The day Jakarta was burned to the ground.
Wed, 20 May 1998
Waves sweep away 130 houses
Waves sweep away 130 houses BANDA ACEH, Aceh: At least 130 houses were swept away by huge waves that hit two villages in Johan Pahlawan district, West Aceh.The coastal area faces the Indian Ocean.Antara news agency reported yesterday that vast waves had hit the two villages since May 14, 1998, and...
Wed, 20 May 1998
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on May 19, 1998: Buying Selling Rp Rp U.S. dollar 1 10,000.00 13,000.00Austrian shilling 1 974.90 1,015.10Australian dollar 1 7,285.00 8,321.00Belgian franc 1 318.20 361.30Canadian dollar 1 8,097.
Wed, 20 May 1998
Notice
NoticeDue to the country's current political situation, The Jakarta Post will appear tomorrow despite the national holiday observing the Ascension Day of Jesus Christ. -- Publisher
Wed, 20 May 1998
RI seen to import less gas oil
RI seen to import less gas oil SINGAPORE (Reuters): Indonesia may import less gas oil in May than previously committed, threatening to back out more supplies into the bearish Singapore market, traders said yesterday.
Wed, 20 May 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 19, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 750 0 0 Alumindo Light Metal 250 50 80,000 Alumindo Perkasa...
Wed, 20 May 1998
Japanese coffee buyers face supply shortages
Japanese coffee buyers face supply shortages TOKYO (Reuters): Japanese coffee bean buyers may face a supply shortage if Indonesia's political upheaval causes further delays in shipments ahead of the peak demand season for coffee, traders said yesterday.
Wed, 20 May 1998
Palm oil prices unchanged
Palm oil prices unchanged LONDON (Reuters): Crude palm oil prices were unchanged at the opening of the European vegetable oil market yesterday but traders said the market felt very much like it was at the eye of a storm."Every one is waiting to see what happens in Indonesia on Wednesday," said one.
Wed, 20 May 1998
Yogyakarta's Sultan to lead massive reform rally
Yogyakarta's Sultan to lead massive reform rally YOGYAKARTA (JP): Sri Sultan Hamengkubuwono X will lead a crowd expected to reach up to 200,000 in a rally here today to commemorate National Awakening Day.
Wed, 20 May 1998
Hagemeyer hit by unrest
Hagemeyer hit by unrest AMSTERDAM (Reuters): An Indonesian warehouse used by a unit of Dutch trading company Hagemeyer lost its entire stock in rioting last weekend, the firm said yesterday. It gave no value for the goods destroyed.
Wed, 20 May 1998
CNG price reduced
CNG price reduced JAKARTA (JP): State oil and gas company Pertamina has reduced the retail price of compressed natural gas (CNG) by 18 percent to Rp 450 (4.5 U.S. cents) per liter.Soegianto, in a decree issued yesterday, said Pertamina would have a profit margin of Rp 6.
Wed, 20 May 1998
Hotel occupancy rates drop sharply
Hotel occupancy rates drop sharply SEMARANG, Central Java: Hotels here have experienced a sharp drop in foreign patrons in recent days following a spate of riots that have rocked parts of the country, hoteliers said.
Wed, 20 May 1998
Bank Bali clarifies
Bank Bali clarifies With reference to the article Riots, looting rock Jakarta on your front page on May 15, we would like to clarify as follows: It is incorrect that an employee of Bank Bali threw away millions of rupiah to the rioting mass to save the bank from violent attack by the mob. I G.M.
Wed, 20 May 1998
EPA wants to help Indonesia
EPA wants to help Indonesia TOKYO (Reuters): Economic Planning Agency (EPA) head Koji Omi said yesterday he wanted Japan to take "appropriate" steps to help Indonesia, including financial aid.Omi told a regular news conference he was not in a position now to say what steps Japan might take but that...
Wed, 20 May 1998
ASEAN will observe Cambodian elections
ASEAN will observe Cambodian elections MANILA (AP): Southeast Asian countries will send 75 observers to the July 26 Cambodian elections to help ensure orderly polls, an official said yesterday.Philippine Undersecretary of Foreign Affairs Lauro Baja said the nine members of the Association of...
Wed, 20 May 1998
Business as usual for DHL courier company in Indonesia
Business as usual for DHL courier company in Indonesia JAKARTA (JP): Courier company DHL Worldwide Express is maintaining operations in Indonesia, despite the deteriorating political situation, the company said yesterday.
Wed, 20 May 1998
26 caught for suspicious goods
26 caught for suspicious goods JAKARTA (JP): Twenty-six people have been arrested in the Bakauheni port, Lampung, on charges of attempting to smuggle in goods they looted here and in Tangerang during last week's riots.Lampung police chief Col.
Wed, 20 May 1998
Rubber down on profit-taking
Rubber down on profit-taking SINGAPORE (Reuters): Singapore rubber futures closed lower yesterday amid minor profit-taking from recent gains, traders said.Rubber futures firmed recently on worries that riots in Indonesia would lead to a shortage of supply.
Wed, 20 May 1998
Malaysian politician tried for smuggling
Malaysian politician tried for smuggling BRISBANE, Australia (AP): A former Malaysian politician was carrying so much cash when he boarded a plane in Australia in 1996 that his bag weighed almost four times the limit for carry- on luggage, a court heard yesterday.
Wed, 20 May 1998
Contradicting education laws
Contradicting education lawsFrom KompasArticle 36, paragraph 1 of Education Law No. 2/1989 on the national education system says: "The cost of state education shall be the responsibility of the government."Whereas article 17, paragraph 1 of Law No.
Wed, 20 May 1998
Taiwan investors in RI warned of China
Taiwan investors in RI warned of China TAIPEI, Taiwan (AP): Officials warned Taiwanese investors in turbulent Indonesia yesterday against moving their money to China, saying the Asian giant's economy was on shaky ground.
Wed, 20 May 1998
More turmoil ahead?
More turmoil ahead? Tragic. This single word probably sums up better than any other the grim reality that what some people see as a major concession by President Soeharto has been received with skepticism and even downright rejection by the President's most prominent critics.
Wed, 20 May 1998
Lyonnais makes RI provisions
Lyonnais makes RI provisions PARIS (Reuters): French state-owned bank Credit Lyonnais has made US$40 million in special provision for Indonesia risks and has cut its outstanding debt to South Korean companies by 25 percent in 1998.
Tue, 19 May 1998
Remain of burn victims laid to rest in mass burial
Remain of burn victims laid to rest in mass burial JAKARTA (JP): A sweltering sun at Pondok Ranggon cemetery in East Jakarta did nothing to dry the tears streaming down people's faces as remains of 113 of their relatives, burned to death in the recent riots, were buried yesterday.
Tue, 19 May 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 18, 1998: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 500 0 0 Alter Abadi 750 0 0 Alumindo Light Metal 200 -25 15,000 Alumindo Perkasa 350...
Tue, 19 May 1998
Buying spree continues amid fears of rioting
Buying spree continues amid fears of rioting JAKARTA (JP): Residents were out on the second day of a buying spree yesterday amid lingering fears of fresh outbreaks of rioting, despite the facade of normality which has returned to the capital.
Tue, 19 May 1998
Soeharto meets aides to discuss resignation call
Soeharto meets aides to discuss resignation call JAKARTA (JP): Following House Speaker Harmoko's call for his resignation, President Soeharto spent hours last night consulting with Vice President B.J. Habibie, the leaders of the Armed Forces and several aides.Armed Forces Commander Gen.
Tue, 19 May 1998
Harmoko's announcement brings cheers
Harmoko's announcement brings cheers JAKARTA (JP): Yes! This is how many people reacted yesterday when asked to comment about the plan of the House of Representatives (DPR) leadership to urge President Soeharto to step down.
Tue, 19 May 1998
Botanical gardens revel on birthday
Botanical gardens revel on birthday BOGOR (JP): The famed Bogor Botanical Gardens, a flora research center which celebrated its 181st anniversary yesterday, is merely recreational park to most visitors, its manager Dedy Darnaedi said yesterday.
Tue, 19 May 1998
Forest fires cause $900m losses
Forest fires cause $900m lossesBy Hotib JAKARTA (JP): Indonesian forests are vulnerable to fires which inflict losses, both economically and environmentally.From July to September last year, enormous forest fires occurred in Sumatra and Kalimantan, causing direct economic losses of billions of...
Tue, 19 May 1998
Sumitro, a general willing to resign
Sumitro, a general willing to resignFrom RepublikaI would like to respond to a news report in this newspaper of May 12, 1998 titled Pak Mitro Menghadap Ilahi (Pak Mitro dies). The report contains, among others, the following: "According to the Army chief, Gen.
Tue, 19 May 1998
Bailout bungle
Bailout bungle If the banks reopen in Jakarta today (May 18, 1998) and resume clearing foreign exchange transactions which have been suspended since last week's rioting, then at least the International Monetary Fund will be physically able to hand over the next tranche of its bailout package, due...
Tue, 19 May 1998
Coffee price firm on Indonesian fears
Coffee price firm on Indonesian fears LONDON (Reuters): LIFFE robusta futures firmed in quiet trade yesterday morning on continued concern over Indonesian unrest, traders said.Benchmark July beat its opening call of unchanged to US$10 lower and opened $40 up but then idled through the rest of the...
Tue, 19 May 1998
Mitsubishi halts Gresik plant
Mitsubishi halts Gresik plant TOKYO (Reuters): Japan's second largest copper smelter Mitsubishi Materials Corp said yesterday it might temporarily halt construction of the Gresik smelter in Indonesia due to upheaval in the country."We may stop construction (of the Gresik smelter) temporarily.
Tue, 19 May 1998
Anti-Chinese feeling not strong in Asia
Anti-Chinese feeling not strong in Asia TAIPEI (Reuters): Southeast Asia's financial woes and a simmering political crisis in Indonesia have hurt firms owned by ethnic Chinese but many regional executives said yesterday they believed anti-Chinese sentiment was rare.
Tue, 19 May 1998
Plan to reshuffle cabinet
Plan to reshuffle cabinetFrom NeracaA cabinet reshuffle planned in the framework of the government's version of reforms can be seen as a tentative move to improve the situation. However, the present stage is already very critical.
Tue, 19 May 1998
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on May 18, 1998: Buying Selling Rp Rp U.S. dollar 1 11,500.00 13,500.00Austrian shilling 1 975.20 977.10Australian dollar 1 7,265.20 7,984.40Belgian franc 1 318.40 347.80Canadian dollar 1 8,076.
Tue, 19 May 1998
Amex steps up support service
Amex steps up support service JAKARTA (JP): American Express has provided additional emergency support service to assist customers in Indonesia and those who have had to leave the country, the company said yesterday.A company vice president Marek H.
Tue, 19 May 1998
The House and reform
The House and reform The wind of change is blowing through this country at unbelievable speed and nobody seems able to stop the very force of this phenomenon.Yesterday's decision by the House of Representatives leadership to support popular calls for President Soeharto to step down is one of the...
Tue, 19 May 1998
S&P lowers ratings of 11 RI companies
S&P lowers ratings of 11 RI companies MELBOURNE (Reuters): Standard & Poor's Corp said yesterday that it had cut the credit ratings of 11 Indonesian corporates, with all ratings on creditwatch with negative implications.