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Tue, 13 Jan 1998
Kosgoro urges govt to follow IMF measures
Kosgoro urges govt to follow IMF measures JAKARTA (JP): The Kosgoro cooperatives movement, one of the founding seven organizations of Golkar, urged the government yesterday to follow all the suggested measures set by the International Monetary Fund (IMF) to help overcome the monetary crisis.
Tue, 13 Jan 1998
Indonesia in spotlight, but no cheers in S. Korea
Indonesia in spotlight, but no cheers in S. Korea SEOUL (Reuters): Indonesia's mounting crisis may have drawn the world spotlight away from troubled South Korea, but there is little cause to celebrate in Seoul.
Tue, 13 Jan 1998
Economic reforms
Economic reforms While Mr. Stanley Fischer and Lawrence Summers from the U.S. Treasury Department are here to discuss reform with the Indonesian government leaders, let us hope that they will not overlook the reforms needed in the world of every day commerce in Indonesia.
Tue, 13 Jan 1998
17 people die in cholera outbreak
17 people die in cholera outbreak KEFAMENANU, East Nusa Tenggara: Seventeen people from four districts in Timur Tengah Utara regency have died in a cholera outbreak that has affected the area since Dec. 23, a regent was quoted by Antara as saying.
Tue, 13 Jan 1998
IMF and govt divided over draft state budget
IMF and govt divided over draft state budget The state budget for 1998/1999 has disappointed the International Monetary Fund. Economist Kwik Kian Gie discusses the budget that may have caused a difference in opinion between the government and the fund.
Tue, 13 Jan 1998
Is a stronger rupiah already around the corner?
Is a stronger rupiah already around the corner?By C.J. de Koning JAKARTA (JP): One of the characteristics of some economists is to predict the future on basis of past experience. In other words if the rupiah depreciates toward the U.S.
Tue, 13 Jan 1998
BT helps small businesses
BT helps small businesses JAKARTA (JP): Bankers Trust Indonesia, the representative office of Bankers Trust, provided a US$140,000 grant yesterday to Bina Swadaya, one of Indonesia's leading non-governmental organizations (NGO), to support the development of small businesses.
Tue, 13 Jan 1998
Joint venture to build $70m lube oil plant
Joint venture to build $70m lube oil plant JAKARTA (JP): State oil and gas company Pertamina has set up a joint venture to build a US$70 million lube oil blending plant in North Jakarta to add to the domestic supply.
Tue, 13 Jan 1998
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 12, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 700 -125 31,500 AHAP Insurance 450 0 0 Alter Abadi 325 0 0 Alumindo Light Metal 250 0 4,389,000...
Tue, 13 Jan 1998
Aussie crossers aim to win all
Aussie crossers aim to win all JAKARTA (JP): The six Australian motocrossers planning to compete in the Gudang Garam races in Tegal, Central Java, next month intend to sweep all the categories they enter.
Tue, 13 Jan 1998
Five shot by police during street brawls
Five shot by police during street brawls JAKARTA (JP): Five men were shot by police officers during sporadic brawls Sunday evening between residents of two districts in the Bukit Duri area, South Jakarta, police said.City Police spokesman Lt. Col. E.
Tue, 13 Jan 1998
Many Jakartans look to pawnshops for quick cash
Many Jakartans look to pawnshops for quick cash JAKARTA (JP): Many Jakartans have been pawning their valuables, especially gold and other jewelry, for cash at state- run pawnshops throughout the city due to the current prolonged monetary turmoil, an official said yesterday.
Tue, 13 Jan 1998
Dry spell continues
Dry spell continues SAMARINDA, East Kalimantan: Thousands of hectares of paddy fields in the Tenggarong subdistrict of the Kutai regency here face harvest failure due to the insufficient rainfall.Head of the local Ministry of Agriculture Sofyan Alex said here yesterday that the regencies of Berau,...
Tue, 13 Jan 1998
New policy a must for globalization
New policy a must for globalizationBy Djauhari Oratmangun This is the second of two articles on globalization and the role of the nation states. JAKARTA (JP): There is no doubt that globalization is probably one of the answers to meeting development objectives in most of the developing world.
Tue, 13 Jan 1998
Firecrackers injure 3 people
Firecrackers injure 3 people SEMARANG, Central Java: Three people were badly injured and three houses destroyed when 20 kilograms of firecrackers exploded Sunday in Temangede village, Gemuh subdistrict, in Kendal regency.Kendal Police Chief Lt. Col.
Tue, 13 Jan 1998
Local artists 'to benefit' from Year of Art and Culture
Local artists 'to benefit' from Year of Art and Culture JAKARTA (JP): Officials defended yesterday the government's decision to declare 1998 the Year of Art and Culture, saying the campaign was not merely a vehicle to attract tourists to the country but also to provide new opportunities for...
Tue, 13 Jan 1998
Volvo's sales fall in Asia
Volvo's sales fall in Asia STOCKHOLM (Reuters): Swedish vehicle maker Volvo Cars said on Monday its 1997 sales in Southeast Asia probably fell to between 15,000 and 16,000 vehicles from 18,000 to 20,000 in 1996.
Tue, 13 Jan 1998
Cohen urges Indonesia to act quickly
Cohen urges Indonesia to act quickly KUALA LUMPUR (Reuters): U.S. Defense Secretary William Cohen urged Indonesia yesterday to move quickly to bring its economy in line with the International Monetary Fund's policy prescriptions.
Tue, 13 Jan 1998
Bad loans at Japanese banks total $590b
Bad loans at Japanese banks total $590b TOKYO (AFP): Bad loans at Japanese banks totaled 76.708 trillion yen (US$590 billion) at the end of September under revised reporting standards, the finance ministry said yesterday.
Tue, 13 Jan 1998
Japan must cure own economic ills to help Asia
Japan must cure own economic ills to help AsiaBy Linda Sieg TOKYO (Reuters): Japan has vowed yet again not to let its woes drag the rest of Asia into more financial turmoil and trigger a global crisis, but analysts say Tokyo must loosen its tight fiscal grip still further to keep that promise.
Tue, 13 Jan 1998
Food producers, retailers agree to ease prices
Food producers, retailers agree to ease prices JAKARTA (JP): The producers and distributors of food and other essentials agreed yesterday not to raise prices anymore, at least until a week after the Idul Fitri holiday.
Tue, 13 Jan 1998
Bogor to move against soft porn
Bogor to move against soft porn BOGOR (JP): Bogor Mayor Eddy Gunardi has ordered the removal of all posters advertising soft porn films at local movie theaters and has directed law enforcement officials to clear the streets of prostitutes and transvestites.
Tue, 13 Jan 1998
Ramadhan time for Jakarta
Ramadhan time for JakartaTuesdayMaghrib 6:17 p.m.WednesdayImsak 4:16 a.m.Subuh 4:26 a.m.
Tue, 13 Jan 1998
SE Asian rubber glued to currency market
SE Asian rubber glued to currency market SINGAPORE (Reuters): Currencies will be the buzzword for the Southeast Asian rubber trade this week, although a fire in the rubber center of Hat Yai will help support rubber prices in Thailand, traders said yesterday.
Tue, 13 Jan 1998
Peregrine Sewu Securities unhurt by problem in HK
Peregrine Sewu Securities unhurt by problem in HK JAKARTA (JP): Indonesian securities house PT Peregrine Sewu Securities will not be directly affected by the financial difficulties faced by the Peregrine Group of Hong Kong.
Tue, 13 Jan 1998
Sri Bintang against Silangit's appointment
Sri Bintang against Silangit's appointment JAKARTA (JP): The trial of former legislator Sri Bintang Pamungkas continued at a snail's pace yesterday as the defendant maintained his objection against S. T. Silangit's appointment as the prosecuting attorney.
Tue, 13 Jan 1998
Australia 'committed to Asia'
Australia 'committed to Asia' CANBERRA (Reuters): Acting Australian Prime Minister Tim Fischer said yesterday that Australia remained committed to Asia, but would develop new export markets.He also said a Sunday telephone conversation between Indonesia's President Soeharto and Australian Prime...
Tue, 13 Jan 1998
Duff enters Indonesia
Duff enters Indonesia HONG KONG (Reuters): U.S. rating agency Duff and Phelps Credit Rating Co. (DCR) said yesterday that it had formed a joint venture with PT Kasnic Indotama to rate Indonesian entities.The partnership was recently approved by regulatory authorities in Indonesia, DCR said.
Tue, 13 Jan 1998
PBSI to ax participation in some meets
PBSI to ax participation in some meets JAKARTA (JP): The Badminton Association of Indonesia (PBSI) has announced it is to cut its participation in several international competitions.MF Siregar, the association's technical director, said that the move was prompted by the financial chaos currently...
Tue, 13 Jan 1998
Police continue probe into attack on Tangerang kiosks
Police continue probe into attack on Tangerang kiosks TANGERANG (JP): Local police are still investigating the burning and destruction of 14 food kiosks Saturday evening by about 2,000 angry Cikupa residents who accused the warung owners of offering prostitution services.
Mon, 12 Jan 1998
Here's a way to make your new hardware talk to the system
Here's a way to make your new hardware talk to the systemBy Zatni Arbi JAKARTA (JP): Last week, as I was reviewing the delectable SCENIC Multimedia eXtension Board (MXB) from Siemens Nixdorf, I inadvertently left you with a small puzzle.
Mon, 12 Jan 1998
Cohen arrives in KL on 1st leg of East Asian tour
Cohen arrives in KL on 1st leg of East Asian tour KUALA LUMPUR (AFP): U.S. Defense Secretary William Cohen arrived here yesterday at the start of an 11-day Asian tour aimed at reassuring the region of support in tough times and urging them towards the "responsible" handling of labor unrest.
Mon, 12 Jan 1998
Central bank chief to resign
Central bank chief to resign MANILA (AFP): Central Bank of the Philippines governor Gabriel Singson on Saturday offered to resign after some legislators said they would investigate him for failing to halt the fall of the peso against the dollar."If they want I will resign.
Mon, 12 Jan 1998
Angry mob burn motorcycle
Angry mob burn motorcycle JAKARTA (JP): A crowd of angry residents in Jatipadang, South Jakarta burned a motorcycle yesterday morning after its driver recklessly ran into a local boy, police said.A Jatipadang police officer said the unidentified driver immediately ran away from the scene after he...
Mon, 12 Jan 1998
Logica opens RI office
Logica opens RI office JAKARTA (JP): Logica, an international computer consultancy, system integration and software company, will open a new office in Jakarta and intends to hire more than 30 people by July this year, the company said Saturday.
Mon, 12 Jan 1998
TBBA's profit falls 33%
TBBA's profit falls 33% JAKARTA (JP): State coal producer PT Tambang Batubara Bukit Asam (TBBA) booked a Rp 59.86 million (US$7.48 million) net profit after tax last year, falling sharply by 33 percent from Rp 89.31 billion in 1996.The company's president, R.
Mon, 12 Jan 1998
Where to go in Jakarta:
Where to go in Jakarta:Exhibitions * Painting Exhibition: Kumuh by Margono at Galeri Cipta III, Taman Ismail Marzuki Arts Center, Jl. Cikini Raya 73, Central Jakarta, 10 a.m. to 9 p.m., until Jan. 18. * Photo Exhibition: 100 old photos from Indonesia and Singapore, at Galeri TC (Twilight Cafe), Jl.
Mon, 12 Jan 1998
USDA aides to travel to Asia next week
USDA aides to travel to Asia next week WASHINGTON (Reuters): Top U.S. Agriculture Department officials will visit a number of financially-troubled Asian nations next week to get a first-hand view of current prospects for U.S. agricultural exports.
Mon, 12 Jan 1998
Games preparations behind schedule
Games preparations behind schedule BANGKOK (AFP): Several sports complexes being built in Bangkok for the 13th Asian Games in December have fallen behind schedule and may not be finished before the March deadline, reports said yesterday.
Mon, 12 Jan 1998
Solving monetary crisis
Solving monetary crisis Since mid-July 1997 our beloved country has been undergoing a monetary crisis. This crisis, which has come after a number of disasters, natural or otherwise, such as forest fires, air, sea and land transportation accidents, drought and starvation (in some parts of...
Mon, 12 Jan 1998
IMF applies inept conditions to Asia: Critics
IMF applies inept conditions to Asia: Critics HONG KONG (Reuters): Asian critics of the International Monetary Fund were gathering steam as the economic crisis intensified over the weekend, hitting out at conditions attached to aid packages that were not working.
Mon, 12 Jan 1998
Number of Indonesians traveling abroad rises
Number of Indonesians traveling abroad rises JAKARTA (JP): The number of Indonesians going abroad through Soekarno-Hatta International Airport rose to 98,000 in December from an average of 84,000 per month in the first half of last year, an official said over the weekend.
Mon, 12 Jan 1998
IMF team here to help defuse crisis
IMF team here to help defuse crisis JAKARTA (JP): A team from the International Monetary Fund (IMF) began talks with Indonesian economic ministers yesterday shortly after arriving here to help defuse the country's economic crisis.
Mon, 12 Jan 1998
U.S., IMF press Indonesia to reform amid Asian crisis
U.S., IMF press Indonesia to reform amid Asian crisis WASHINGTON (AFP): The United States and IMF redoubled pressure Friday on Indonesia to reform its troubled financial system as fears of a total economic collapse there sent global markets into a tailspin.
Mon, 12 Jan 1998
Why not a dialog?
Why not a dialog? The current economic crisis, which is becoming worse and worse by the day, is concerning not only the authorities but also people of all walks of life. The troubles look more critical considering the aging national leadership and the absence of a clear picture of how a change of...
Mon, 12 Jan 1998
Roadworks to commence
Roadworks to commence JAYAPURA, Irian Jaya: The National Development Planning Board (Bappenas) has allocated Rp 266.666 million to assist in infrastructure construction in the province."The funds will be allocated for projects in three districts, Jayawijaya, Merauke, and Puncak Jaya, all of which...
Mon, 12 Jan 1998
Official visits troubled Thai Binh
Official visits troubled Thai Binh HANOI (AFP): A member of Vietnam's ruling politburo has visited the troubled central province of Thai Binh, which was rocked by violent demonstrations last year, the official Nhan Dan newspaper reported yesterday.
Mon, 12 Jan 1998
Loggers cancel demonstration
Loggers cancel demonstration PANGKALAN BUN, C. Kalimantan: Thousands of traditional loggers here canceled Saturday their plan to stage a demonstration at the local legislative assembly building over the government policy on logging, Antara reported.
Mon, 12 Jan 1998
Backsliding on reforms 'could cause depression'
Backsliding on reforms 'could cause depression' JAKARTA (JP): Indonesia's most senior economist Sumitro Djojohadikusumo has warned that the country may plunge into a prolonged depression if economic and political reforms are not implemented firmly and consistently.
Mon, 12 Jan 1998
CPO policy shows 'inconsistency'
CPO policy shows 'inconsistency'By Johannes Simbolon JAKARTA (JP): The government's move to ban the export of all crude palm oil (CPO) products for three months, until March, to stabilize the price of cooking oil in the domestic market has drawn criticism from observers.