INDONESIAN WORKERS FACING MASSIVE LAYOFFS

Jakarta, Nov 25 (ANTARA) – Hundreds of thousands of Indonesian workers at home and abroad are facing the threat of losing their jobs as a result of the global financial crisis. At home about 200,000 will likely be laid off shortly. In Malaysia, the main destination of Indonesian migrant workers, at least [...]

BI’S CALL FOR DOLLAR SELLING A GOOD OR BAD SIGNAL?

Jakarta, Nov 19 (ANTARA) – Bank Indonesia (BI)’s appeal to the public to sell their dollars in order to help offset the rupiah depreciation may prove to be counterproductive and encourage market players to adversely hunt the greenback, observers say. BI made the call so that those keeping dollars would [...]

RI WORKING ALL-OUT TO PREVENT ENTRY OF ILLEGAL GOODS

Jakarta, Nov 18 (ANTARA) – Indonesia is now making all-out efforts to ward off a possible influx of illegal imports amid the global financial crisis. While centralizing the entry points of imports, strictly supervising the flow of commodities and restricting the importation of certain goods, the government is also closing [...]

FULL GUARANTEE ON BANK DEPOSITS NEEDED TO PREVENT CAPITAL OUTFLOW

Jakarta, Nov 15 (ANTARA) – Bankers and businessmen have called on the government to provide a full blanket guarantee on bank deposits in order to maintain the stability of banks’ liquidity and prevent capital from flowing out of the country in the current financial crisis. Indonesian banks currently hold [...]

THOUSANDS ARRESTED IN NATION-WIDE ANTIHOODLUM OPERATION

    Jakarta, Nov 12 (ANTARA) – Indonesian security officers have arrested more than 3,000 hoodlums following an order from National Police Chief General Bambang Hendarso Danuri early this month to launch a nation-wide crack down on gangsters who had caused public unrest. ”Police will act firmly against hoodlums, no matter who they are, including those who [...]

LAST TWO MONTHS THIS YEAR ‘INJURY TIME’ FOR VIY 2008

             Jakarta, Nov 11 (ANTARA) – With the end of 2008 less than two months away, and the total number of foreign tourist arrivals so far only recorded at 4.57 million, there is rising concern that the ‘Visit Indonesia Year 2008′ target of attracting seven million foreign visitors may not be achieved. Yet, Tourism and [...]

SECURITY TIGHTENED IN BALI AFTER AMROZI’S EXECUTION

Jakarta, Nov 9 (ANTARA) – The local authorities tightened security in the Indonesian tourist resort island of Bali following the execution very early on Sunday of three death-row convicts Amrozi, Mukhlas alias Ali Ghufron and Imam Samudra, who bombed the island of god in 2002 killing at least 202 people. [...]

GOVT LOWERS PREMIUM GASOLINE PRICE

Jakarta, Nov 7 (ANTARA) – After various calls and public pressures, the government finally decided on Thursday to lower the price of subsidized premium gasoline from Rp6,000 to Rp5,500 per liter effective on December 1, 2008. But observers said the government’s decision did not significantly benefit small people as it [...]

CENTRAL BANK GIVING CAUTIOUS RESPONSE TO LOWER INFLATION

Jakarta, Nov 5 (ANTARA) – Bank Indonesia (BI/the central bank) is giving cautious response to calls that it should lower its present 9.5 percent benchmark interest rate as inflation has dropped in October to 0.45 percent. “It seems that inflation will be lower in the coming months. The low inflation [...]

GOVT FAILS TO SAFEGUARD INDOVER BANK

Jakarta, Nov 2 (ANTARA) – The Indonesische Overseeze Bank (Invover Bank), a Netherlands-based subsidiary of Bank Indonesia (BI/central bank) is facing liquidation after the Indonesian government failed to meet the October 31 deadline set by the Dutch central bank for a fresh fund injection. The Indonesian central bank’s senior deputy governor, Miranda S Goeltom, said [...]