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Found 17,070 articles

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 29, 1999: ------------------------------------------------------- Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 375 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0...

Indonesian visitor arrivals down 21 percent last year

Indonesian visitor arrivals down 21 percent last year SINGAPORE (Agencies): Visitor arrivals to impoverished Indonesia fell 21 percent last year in the midst of economic and political crisis, and the government is trying to rescue a tourism industry that used to provide one out of every 12.

Govt tells Timor to pay dues or face liquidation

Govt tells Timor to pay dues or face liquidation JAKARTA (JP): The government has sent a stern letter to the controversial car company PT Timor Putra Nasional, warning it to settle Rp 3.09 trillion (US$343 million) in backdated import duties immediately or face liquidation.

City allows commercial banners in some sites

City allows commercial banners in some sites JAKARTA (JP): The city administration has decided to allow advertisers to post commercial banners in certain locations in a bid to put banner displays in order, an official said on Thursday.

PT Agro Indomas gets $25m loan from foreign banks

PT Agro Indomas gets $25m loan from foreign banks JAKARTA (JP): PT Agro Indomas, an Indonesian-Malaysian oil palm plantation joint venture with a Central Kalimantan concession, signed a loan agreement of US$25.2 million with two foreign banks on Friday.

BI Governor defends bank program

BI Governor defends bank program JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Friday that the decision to include the privately-run Lippo Bank among the first 12 banks to receive government recapitalization funds had nothing to do with nepotism but was based on the bank's ability...

Police looking into phone lottery scam

Police looking into phone lottery scam JAKARTA (JP): Police have managed to identify several con artists specializing in deceiving people over the telephone by telling them they have won a Kijang van in a lottery, an officer said.

Local financial market gains ground as stocks rise 1.1%

Local financial market gains ground as stocks rise 1.1% JAKARTA (JP): The country's financial market gained footing on Friday with the rupiah moving to 9,025 against the U.S. dollar as stock prices rose by 1.1 percent.

Malaysia shelves toll roads

Malaysia shelves toll roads KUALA LUMPUR (AFP): The Malaysian government is to defer 20 privatized highway projects following criticism of recent toll increases, Works Minister S. Samy Vellu was reported as saying Friday.

Pregnant Yayuk withdraws from Federation Cup competition

Pregnant Yayuk withdraws from Federation Cup competition JAKARTA (JP): Indonesia's tennis queen Yayuk Basuki has quit from the country's team for next month's Federation Cup Zone Asia Oceania competition due to pregnancy.

Most Asian monies up against dollar

Most Asian monies up against dollar SINGAPORE (AFP): Most Asian currencies ended higher against the U.S. dollar in quiet trade Friday despite the fall of the Japanese yen.The Indonesian rupiah briefly rose to 8,000 levels against the dollar as investors unwound long positions on the greenback but...

Indonesia's own Fawlty Towers?

Indonesia's own Fawlty Towers? The Kartika Graha Hotel in Malang must rate as Indonesia's Fawlty Towers. My wife, child and I stayed in this hotel over the Lebaran holiday to see relatives, friends and so on. We did not expect the "service" that we received from the hotel.

Leo to sing the songs of 'krismon'

Leo to sing the songs of 'krismon' JAKARTA (JP): Renowned musician and folk singer Leo Kristi will tackle the crisis in song at Gedung Kesenian Jakarta on Saturday and Sunday.The concert, titled Naga Banda, is named after one of his new songs.

Time to take sides

Time to take sidesFrom Sinar PagiMinister of Defense and Security/Armed Forces Commander Gen. Wiranto says group interests have become increasingly apparent and are infringing upon national interests.The dynamics of reform are characterized by attitudes of aggressiveness, hate and calumny.

Police have yet to capture Ambon riot masterminds

Police have yet to capture Ambon riot masterminds JAKARTA (JP): National Police Chief Lt. Gen. Roesmanhadi admitted on Friday that the police have not yet been able to apprehend the alleged masterminds or instigators of the recent communal clashes in Ambon, Maluku.

Motorist robbed of Rp 39 million

Motorist robbed of Rp 39 million JAKARTA (JP): A Bekasi businessman driving alone in his Kijang van with Rp 39 million in cash strapped to his body experienced his nightmare this year when a group of seven men stopped his car and forced him to hand over all his money.

Malaysia keeps markets guessing

Malaysia keeps markets guessingBy Nelson Graves KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir Mohamad is on the verge of easing five-month-old capital controls, but financial markets are still guessing what form the new measures will take.

Analysts welcome new Astra debt initiative

Analysts welcome new Astra debt initiative JAKARTA (JP): Securities analysts have welcomed PT Astra International's new attempt to buy back part of its debts but were surprised at the offering price proposed by the country's largest automaker to its creditors.

Feed the people

Feed the peopleFrom DRAs I happen to know about the program for provision of food and economic restoration -- conducted by the research and development division of the Indonesian Democratic Party (PDI) Perjuangan and chaired by Mr. Kwik Kian Gie -- I would like to appeal that it can be realized.

Phone rates to rise by 28% on Monday

Phone rates to rise by 28% on Monday JAKARTA (JP): The government will raise the rates of domestic long-distance and intracity telephone calls by as much as 28 percent to offset increasing operating costs, an official at the Ministry of Communications said.

Govt forming team a select parties

Govt forming team a select parties JAKARTA (JP): The government is setting up a team of 11 people to select political parties eligible to contest the June 7 general election.Minister of Home Affairs Syarwan Hamid said the team would be independent and its members, which were to be announced in the...

Calls to amend political laws

Calls to amend political laws JAKARTA (JP): Many of the political parties which were not represented in the House of Representatives gave the thumbs down to the three new pieces of political legislation on Friday, but none of them talked about boycotting the elections slated for June.

Monas park undergoes second stage of face-lift

Monas park undergoes second stage of face-lift JAKARTA (JP): The city administration next week begin the second stage of the National Monument (Monas) park facelift project, with an estimated cost of about Rp 3 billion, Central Jakarta Mayor Andi Subur Abdullah said.

Head of major Vietnam coy held

Head of major Vietnam coy held HANOI (AFP): The director of a major petrol trading company in southern Vietnam has been arrested in connection with one of the country's biggest corruption scandals, a report said on Friday.

Victory for the status quo

Victory for the status quo The deliberations in the House of Representatives on the three political bills passed into law on Thursday followed a familiar but disturbing pattern. The two dominant factions in the House -- Golkar and the Armed Forces (ABRI) -- flexed their muscles to impose their...

Estrada rejects clemency appeal

Estrada rejects clemency appeal MANILA (AP): President Joseph Estrada said on Friday he will not grant clemency to a child rapist scheduled to become the first criminal executed in the Philippines in 23 years.

Asian stock markets end mixed at end of a rollercoaster week

Asian stock markets end mixed at end of a rollercoaster week SINGAPORE (AFP): Asian stock markets ended mixed Friday at the end of a rollercoaster week, with improved sentiment due to an overnight rise on Wall Street offset by lingering domestic worries, dealers said.Hong Kong closed up 1.

Live TV shows

Live TV shows JAKARTA (JP): The following are sports competitions to be broadcast live this weekend on local TVs (all times in West Indonesia Time):Saturday: English soccer league: Newcastle v Aston Villa, SCTV at 10 p.m.Sunday: Italian soccer league: Bari v Lazio, RCTI at 8:30 p.m.

Robber to sue police over shooting

Robber to sue police over shooting JAKARTA (JP): A 19-year-old suspected street robber is to sue Central Jakarta Police for allegedly shooting him in the left thigh without first firing warning shots.Speaking after a hearing in his trial on Friday, the defendant, Hariyanto, said that he planned to...

Govt cuts CPO taxes to 40%

Govt cuts CPO taxes to 40% JAKARTA (JP): The government announced on Friday a reduction in export taxes on crude palm oil (CPO) and some of its by- products to as much as 40 percent starting Feb. 1 in a bid to boost exports and farmers' incomes.

Road rage result of reckless driving

Road rage result of reckless driving JAKARTA (JP): Jakarta's hectic traffic has been known to easily spark anger among motorists, most of whom apparently know very little about driving etiquette.Although those with their own cars are rarely more disciplined than other road users, many people...

Bandits pull off daylight robbery

Bandits pull off daylight robbery JAKARTA (JP): A group of five armed robbers broke into a South Jakarta house in broad daylight on Friday and made off with Rp 80 million in cash, four cellular phones and jewelry worth hundreds of millions of rupiah.

ADB aid to be used to resettle villagers

ADB aid to be used to resettle villagers PALU, Central Sulawesi: The Central Sulawesi provincial administration in the 1999/2000 budget year will receive aid worth some US$3 million from the Asian Development Bank (ADB), Antara reported.

Indofood, former executives sued for unfair transactions

Indofood, former executives sued for unfair transactions JAKARTA (JP): The former owner of a company that later grew to become PT Indofood Sukses Makmur is to sue the largest noodle producer and its former executives for over Rp 620 billion for unfair business transactions occurring in the...

Unrests linked to foreign interference

Unrests linked to foreign interferenceBy M.M.I. Ahyani BANDUNG (JP): Historian Ahmad Mansur Suryanegara, who lectures in the School of Letters at Padjadjaran University here, sees links between recent outbreaks of unrest in Indonesia with the reform movement and the meddling of other countries,...

North Sulawesi allocates Rp 237b

North Sulawesi allocates Rp 237b MANADO, North Sulawesi: The North Sulawesi administration has allocated Rp 237 billion (US$26 million) for its social safety net program, Governor E.E. Mangindaan said on Wednesday.

Reform the banks or perish

Reform the banks or perishBy Eddy Soeparno JAKARTA (JP): Developments in the past few months indicate that despite a stronger rupiah exchange rate and lower inflation, the economy continues to remain dormant as a result of a banking system that is rotten to the core.

Flushing work affects water service

Flushing work affects water service JAKARTA (JP): Poor tap water service will continue to affect customers in certain parts of the city over the next one to two years due to a pipeline flushing project, an executive at a tap water company said on Wednesday.

Police investigating villagers' dispute

Police investigating villagers' dispute TANGERANG (JP): Local police detectives are still investigating Sunday's vandalism of an Islamic elementary school and a boat factory in Tanjung Burung village in Teluk Naga, an officer said."We really regret the cases.

Walhi calls for reallocation, decentralization of resource

Walhi calls for reallocation, decentralization of resource JAKARTA (JP): The Indonesian Forum for the Environment (Walhi) has called for the decentralization and reallocation of natural resources in a bid to boost the people-oriented economy as part of a reform agenda of environmental management.

Commercial court needs modernization

Commercial court needs modernization JAKARTA (JP): The poor performance of Indonesia's Commercial Court, particularly its lack of understanding of the complex nature of modern financial transactions, is a major bottleneck in developing an effective and efficient bankruptcy regime, analysts said...

Labor export frims protest over workers' poor protection

Labor export frims protest over workers' poor protection JAKARTA (JP): Around 200 labor export companies have threatened to cancel their partnership with local insurance companies following their failure to provide protection for around 1,000 workers in Saudi Arabia and Malaysia.

Thai's FDI slip 37%

Thai's FDI slip 37% BANGKOK (DPA): Thailand approved foreign investment projects worth 303.4 billion baht (US$8.4 billion) last year, a 37 per cent drop from 1997 figures, Board of Investment (BOI) officials said Thursday.

Dharmala upset by bankruptcy demand

Dharmala upset by bankruptcy demand JAKARTA (JP): Publicly listed PT Dharmala Sakti Sejahtera said on Thursday it was "extremely disappointed" with PT Hanil Bakrie Finance's decision to ask Jakarta Commercial Court to declare it bankrupt.

Japan gives $20m to ASEAN fund

Japan gives $20m to ASEAN fund TOKYO (AFP): Japan has agreed to give US$20 million to a Southeast Asian fund designed to promote education, training and business exchanges in the region, the foreign ministry said on Thursday.

ABRI should come clean

ABRI should come cleanFrom DRIn a Jakarta newspaper, Gen. (ret.) Rudini recently asked the people to stop their aspersions against the Armed Forces (ABRI). Just a day before Minister of Defense and Security/ABRI Commander Gen.

Indonesia's corporate debt restructuring to accelerate

Indonesia's corporate debt restructuring to accelerate SINGAPORE (Reuters): Corporate debt restructuring in Indonesia is gathering pace and may speed up if the potential for more political turmoil looms, Indonesian government advisers said on Thursday.

Nurse found dead in boarding house

Nurse found dead in boarding house TANGERANG (JP): An eighteen-year-old nurse was found hanged in the bedroom of her boarding house in Harapan Kita housing complex in Curug here on Tuesday evening.The body of Dwi Lestari, who worked at Siloam Gleneagles Hospital in Lippo Karawaci, was discovered by...

Central bank bill doesn't guarantee accountability

Central bank bill doesn't guarantee accountability JAKARTA (JP): The Econit Advisory Group, a think tank that concentrates on economic problems, criticized the government's central bank bill for its lack of clear-cut provisions to guarantee Bank Indonesia's accountability and transparency.

Provinces to get more say on forest projects

Provinces to get more say on forest projects JAKARTA (JP): The Ministry of Forestry and Plantations plans to increase the budget allocations for local administrations in the 1999/2000 fiscal year in a bid to give them greater autonomy in managing the country's forest assets.