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Wed, 28 Jan 1998
RI's GDRs jump on rupiah's rebound
RI's GDRs jump on rupiah's rebound LONDON (Reuters): Indonesian global depositary receipts (GDRs) jumped yesterday as the rupiah gained on repeated intervention, news of a de-facto debt moratorium and plans to restructure the banking system.
Wed, 28 Jan 1998
Govt to impose quota on log export
Govt to impose quota on log export JAKARTA (JP): The government will impose a quota on the export of logs, sawn timber and rattan to guarantee a sufficient supply for domestic demand, a minister said yesterday.
Wed, 28 Jan 1998
S&P lowers Indonesian currency ratings
S&P lowers Indonesian currency ratings HONG KONG (AFP): U.S. ratings agency Standard and Poor's yesterday downgraded its Indonesia long-term foreign currency rating to B from BB, and its local currency rating to BB- from BBB.
Wed, 28 Jan 1998
Grand Prix calendar changed
Grand Prix calendar changed PARIS (AFP): The Indonesian and Portuguese grands prix have been removed from this year's calendar, the International Motorcycling Federation (FIM) announced Monday.The Indonesian race, initially planned for April 19, will be replaced by the Malaysian Grand Prix, which...
Wed, 28 Jan 1998
Estimate on bank exposure to Indonesia
Estimate on bank exposure to Indonesia mid-1997 end-1996 mid-1996 ---------------------------------------------------------- Japan 23.153 22.035 21.622 Germany 5.610 5.508 4.843 France 4.787 4.463 3.652 United States 4.591 5.279 3.551 United Kingdom 4.332 3.834 3.260 Belgium 2.870 2.982 2.
Wed, 28 Jan 1998
Idul Fitri likely to fall tomorrow: Scholars
Idul Fitri likely to fall tomorrow: Scholars SURABAYA (JP): Indonesia's largest Moslem organization Nahdlatul Ulama (NU) may join Muhammadiyah members celebrating Idul Fitri tomorrow rather than Friday as the government calendar says.
Wed, 28 Jan 1998
No roar from Asian retailers as year of Tiger nears
No roar from Asian retailers as year of Tiger nearsBy Angela Tan SINGAPORE (Reuters): The Year of the Tiger will prove vicious for Asia's retailers, with potential to leave a bloodbath among the less savvy, analysts and shopowners say.
Wed, 28 Jan 1998
Where to go in Surabaya:
Where to go in Surabaya:Music and Entertainment * Mercure Grand Hotel, Jl. Raya Kupang Indah: Pasar Senggol with traditional music - keroncong or langgam, every Wednesday night. * Hyatt Regency Surabaya, Jl. Jend.
Wed, 28 Jan 1998
Century old mummy found
Century old mummy found SAMARINDA, East Kalimantan: A mummy of a Dayak tribal chief thought to be a century old was found deep in the wilderness earlier this month by villagers of Tanjung Soke of Kutai regency.
Wed, 28 Jan 1998
Teenage burned in attempted suicide
Teenage burned in attempted suicide JAKARTA (JP): A 16-year-old girl from Tambun district in Bekasi, West Java suffered severe burns during a suicide attempt, city police spokesman Lt. Col. E. Aritonang said on Monday.
Wed, 28 Jan 1998
Asia-Pacific markets look to holiday respite
Asia-Pacific markets look to holiday respite HONG KONG (AFP): Most Asia-Pacific stock markets prepared for a Chinese New Year respite yesterday, as Indonesia unveiled crucial banking reforms and sought to save its debt-ridden corporate sector from disaster.
Wed, 28 Jan 1998
Rupiah gains ground on debt, banking reforms
Rupiah gains ground on debt, banking reforms JAKARTA (JP): The rupiah strengthened to 11,000 to the U.S. dollar yesterday on banking reforms, new measures to resolve corporate debt and market intervention by Bank Indonesia.
Wed, 28 Jan 1998
Thais rule out debt delay
Thais rule out debt delay BANGKOK (AFP): The central Bank of Thailand (BoT) yesterday ruled out a Thai debt moratorium following Indonesia's announcement of plans to stall debt repayments by its corporate borrowers.
Wed, 28 Jan 1998
Crisis also affects Britain
Crisis also affects Britain LONDON (Reuters): The British government might be left with a bill of more than three billion pounds sterling used to underwrite loans to Asian countries if the Pacific Rim nations default on their debts, the Independent newspaper said.
Wed, 28 Jan 1998
Pertamina looks to halt import of crude oil
Pertamina looks to halt import of crude oil SINGAPORE (Reuters): Indonesian state-oil firm Pertamina is holding talks with suppliers to halt outstanding imports of crude and products in February, an affiliate source said yesterday.
Wed, 28 Jan 1998
Economic reform without misery?
Economic reform without misery?By Omar Halim This is the first of two articles examining the prospects for Indonesia's economy in light of the signing of a reinforced economic program mid this month by President Soeharto and the International Monetary Fund (IMF) managing director Michel Camdessus.
Wed, 28 Jan 1998
Three-in-one ruling may go after general session
Three-in-one ruling may go after general session JAKARTA (JP): The three-in-one traffic regulation for Jakarta's main thoroughfares is to be disbanded after the March general session of the People's Consultative Assembly (MPR), Governor Sutiyoso announced yesterday.
Wed, 28 Jan 1998
Citra Marga holding food fair for poor
Citra Marga holding food fair for poor JAKARTA (JP): Tollroad construction firm PT Citra Marga Nusaphala Persada, a subsidiary of the Citra Group owned by Siti Hardiyanti Rukmana, is holding a fair of cheap staple foods at eight of the city's subdistricts considered as poor areas.
Wed, 28 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaWednesdayMaghrib 6:20 p.m.ThursdayImsak 4:23 a.m.Subuh 4:33 a.m.
Wed, 28 Jan 1998
Holiday exodus has peaked, but its not over yet
Holiday exodus has peaked, but its not over yet JAKARTA (JP): Predictions that the peak of the holiday exodus would fall yesterday -- three days before Idul Fitri -- turned out to be incorrect as 180,000 people had left the city Sunday.
Wed, 28 Jan 1998
Govt guarantees bank deposits
Govt guarantees bank deposits JAKARTA (JP): The government announced massive banking reforms yesterday to restore confidence in the system, guaranteeing the embattled banking sector's deposits and debts and allowing foreign ownership in local banks.
Wed, 28 Jan 1998
No misuse of workers' funds, BPKP says
No misuse of workers' funds, BPKP says JAKARTA (JP): The Development Finance Comptroller (BPKP) has cleared Minister of Manpower Abdul Latief of any impropriety in the use of state-owned social security company PT Jamsostek's funds.
Wed, 28 Jan 1998
RI debt problem will take a year to solve: Banks
RI debt problem will take a year to solve: Banks SINGAPORE (Agencies): Indonesia's corporate debt problem would take at least a year to solve and not all creditors will be repaid, a spokesman for a committee of creditor banks said in Singapore yesterday.
Wed, 28 Jan 1998
Moslem coalition launches campaign to help the poor
Moslem coalition launches campaign to help the poor JAKARTA (JP): A coalition of Moslem organizations launched a public service campaign yesterday to help alleviate people's suffering during the monetary crisis.
Wed, 28 Jan 1998
Rates for tax payment
Rates for tax payment JAKARTA (JP): The government announced yesterday new official conversion rates as the basis for payment of import duty, value added tax on goods and services, sales tax on luxury goods, export tax and income tax.The new conversion rates will be valid for one week, from Jan.
Wed, 28 Jan 1998
U.S.-RP military deal delay criticized
U.S.-RP military deal delay criticized MANILA (AFP): A member of a US Congress mission expressed disappointment yesterday at a delayed agreement to allow joint military training with the Philippines."I am personally disappointed that the Philippines has been slow in ratifying the agreement with the...
Wed, 28 Jan 1998
Analysts, bankers, businesspeople laud banking reform
Analysts, bankers, businesspeople laud banking reform JAKARTA (JP): Analyst, bankers and Indonesian businesspeople commended yesterday the government's congenial measure to fortify the country's frail banking sector, indicating such a move was long overdue.
Wed, 28 Jan 1998
Where to go in Bandung:
Where to go in Bandung:Exhibition * Ramadhan Exhibition featuring Handicraft, Fashion, Food, at the Lobby, Preanger Aerowisata Bandung Hotel, Jl. Asia Afrika No. 81, Central Bandung, 10 a.m. to 8 p.m., until Jan. 29.
Wed, 28 Jan 1998
Arresting the rupiah's drop
Arresting the rupiah's drop The new bold measures on corporate debts and bank restructuring announced by the Indonesian government yesterday directly address the main causes of the wild volatility and downward spiral of the rupiah's exchange rate.
Wed, 28 Jan 1998
Transport strike hits more RP cities
Transport strike hits more RP cities CEBU, Philippines (Reuters): A new wave of transport strikes crippled Cebu, a major central Philippine city, yesterday but officials used dump trucks to ferry workers and lessen the impact of the walkouts elsewhere, police said.
Wed, 28 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 27, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 600 0 0 AHAP Insurance 350 0 0 Alter Abadi 225 50 20,000 Alumindo Light Metal 250 25 79,000 Alumindo...
Wed, 28 Jan 1998
Probe into gold bullion company widened after arrest
Probe into gold bullion company widened after arrest JAKARTA (JP): Police will widen their probe into PT Pan Bullion Prima, a private gold bullion trading company, after the executive director was named a suspect.National Police spokesman Brig. Gen.
Wed, 28 Jan 1998
Nokia will not hike cellular phone prices
Nokia will not hike cellular phone prices JAKARTA (JP): Finnish mobile phone producer Nokia has promised not to raises prices of its mobile phones in Indonesia for the next several months despite the rupiah's volatility against the U.S. dollar.
Wed, 28 Jan 1998
Ulemas banned for politicking
Ulemas banned for politicking SURABAYA (JP): A group of local Nahdlatul Ulama (NU) scholars, known for their critical view of chairman Abdurrahman Wahid, has been banned for politicking.East Java Governor Basofi Soedirman asked the group, calling itself FOKUS and claiming to have the support of 100...
Wed, 28 Jan 1998
Jakartans warned about fire dangers
Jakartans warned about fire dangers JAKARTA (JP): Jakarta Fire Department urged residents, especially those celebrating Idul Fitri outside the city, to safeguard their houses before leaving.Suharso, head of the department, told The Jakarta Post many houses were left empty over the holiday and he...
Wed, 28 Jan 1998
Managing monetary crisis
Managing monetary crisisFrom Media IndonesiaOf late, the print and electronic media have been carrying polemics on how to find the right solution to the prolonged monetary crisis. Of all the ideas expressed, the most interesting is one about a national dialog of sorts.
Wed, 28 Jan 1998
Belo rallies for crisis-hit daily
Belo rallies for crisis-hit daily DILI, East Timor: Dili Catholic leader Bishop Carlos Felipe Ximenes Belo called on subscribers of the Suara Timor Timur yesterday to help ease the financial burden that has severely affected the newspaper.
Wed, 28 Jan 1998
Tough policy key to cure crisis
Tough policy key to cure crisisBy Jusuf Wanandi JAKARTA (JP): Indonesia is a developing nation which has to go through crises and challenges to become an industrialized and mature nation. Every developed nation today has gone through this phase in its history.
Wed, 28 Jan 1998
Nissan sees drop in RI car demand
Nissan sees drop in RI car demand TOKYO (Reuters): Japanese car giant Nissan Motor Co Ltd said yesterday it expects total vehicle demand in Indonesia to fall about 70 percent in January compared with the same month last year.
Wed, 28 Jan 1998
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan. 27, 1998: Buying Selling Rp Rp U.S. dollar 1 9,900.00 12,900.00Austrian shilling 1 685.40 990.50Australian dollar 1 6,024.50 8,136.20Belgian franc 1 239.70 328.70Canadian dollar 1 6,170.00 8,280.
Wed, 28 Jan 1998
Capt. Suko faces calls for dismissal
Capt. Suko faces calls for dismissal YOGYAKARTA: Military prosecutors are demanding Capt. Suko Haryanto, who stands accused in a bribery case, be sentenced to 32 months in prison and be discharged from the police force.Prosecuting attorney Col.
Wed, 28 Jan 1998
Japanese companies cautious on Indonesia
Japanese companies cautious on Indonesia TOKYO (Reuters): Japanese firms are cautious about investing in Indonesia despite a new IMF reform program endorsing deregulation of foreign investment to help cope with political and economic instability, officials said yesterday.
Wed, 28 Jan 1998
'Media Indonesia' manager denies link to banned PRD
'Media Indonesia' manager denies link to banned PRD JAKARTA (JP): The general manager of the Media Indonesia daily Surya Paloh denied yesterday having any link to the banned Democratic People's Party (PRD).
Wed, 28 Jan 1998
SOFT LOANS FOR RI:
SOFT LOANS FOR RI:JP/oby Indonesia and Japan signed diplomatic notes for Japanese overseas development assistance yesterday, making available loans to the sum of 195.2 billion yen (US$1.47 billion).The loans, signed by Minister of Foreign Affairs Ali Alatas (right) and Japanese ambassador Takao...
Wed, 28 Jan 1998
Spotlight
SpotlightPhoto A: FastingJP/obyBREAKING THE FAST: Army Chief Gen. Wiranto (second right) breaks the fast with chief editors and journalists at the Balai Kartini, Jakarta. He was accompanied Monday by noted preacher Zainuddin MZ (second left), chief of the Legion of Indonesia Veterans Lt. Gen. (ret.
Wed, 28 Jan 1998
Korean Tae Kwon Do coach still possibility
Korean Tae Kwon Do coach still possibility JAKARTA (JP): The Indonesian Tae Kwon Do Association is considering whether or not to extend the contract of Korean coach Oh Il-nam for the 13th Asian Games in Bangkok in December and other events this year.
Wed, 28 Jan 1998
Idul Fitri
Idul Fitri Announcement: The government is expected to announce tonight whether Idul Fitri falls tomorrow or Friday. Should it fall tomorrow, then it will be declared a public holiday, and The Jakarta Post will not appear accordingly. The newspaper will resume publication on Sunday. -- The Publisher
Wed, 28 Jan 1998
ASEAN trade in own currencies 'impractical'
ASEAN trade in own currencies 'impractical' KUALA LUMPUR (Reuters): An Association of Southeast Asian Nations (ASEAN) proposal that the grouping use local currencies in regional trade is neither practical nor expected to find enough support even among its members, analysts said.
Wed, 28 Jan 1998
Siswono highlights reasons behind Soeharto's renomination
Siswono highlights reasons behind Soeharto's renomination JAKARTA (JP): The country's political elite have renominated incumbent President Soeharto because they are not ready to fill his shoes, Minister of Transmigration Siswono Yudohusodo said yesterday.
Wed, 28 Jan 1998
TV today
TV todayTVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Big Brother Jake 3:10 Indonesian Children 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Education Quiz: Cepat Tepat 5:10 Documentary: Masjid-Masjid Kuno di Jakarta 5:30 TV Drama: Menutup Mulut 6:00 News: Lintasan Berita 6:05...