Latest News

Rupiah falls to 12,000 per US dollar late Wednesday Posted: 19 Nov 2008 02:20 PM CST The rupiah finally fell to 12,000 per US dollar on Wednesday afternoon after staying at the level of between 11,500 and 11,900 for a while, following mounting market pressure.

Bahrain Prince sues Michael Jackson in UK court Posted: 19 Nov 2008 02:17 PM CST A son of the king of Bahrain took U.S. pop star Michael Jackson to court on Monday for reneging on an agreement to record a new album and write an autobiography.

Govt to act firmly againt provocative web sites Posted: 19 Nov 2008 02:14 PM CST Communication and Information Minister Muhammad Nuh said the government would take firm measures against whoever had disseminated provocative materials through websites that create public unrest.

Indonesia House Speaker to become APA chairman Posted: 19 Nov 2008 02:12 PM CST House of Representatives (DPR) Speaker Agung Laksono will be installed as Asian Parliamentary Assembly (APA) chairman at the 3rd APA meeting here on November 27-29, 2008.

Gus Dur calls for boycott of elections Posted: 19 Nov 2008 02:10 PM CST Chairman of the Legal Council of the National Awakening Party (PKB) Abdurrahman Wahid on Wednesday repeated his call on PKB regional branches to boycott the legislative, regional representatives (DPD), presidential and vice presidential elections to be held next year.

Indonesia economic and investment climate still promising Posted: 19 Nov 2008 02:08 PM CST The government should continue to show to the international community that Indonesia`s economic conditions and investment climate are still promising despite the global economic crisis, a minister said.

Indonesia, Indian investors urged to work together facing crisis Posted: 19 Nov 2008 02:06 PM CST Indian investors and Indonesian businessmen are encouraged to make synergetic efforts to deal with the impact of the current global financial crisis.

Cathay cuts year-end bonus for Hong Kong staff Posted: 19 Nov 2008 02:05 PM CST Hong Kong carrier Cathay Pacific said Wednesday it would cut the year-end bonus for its local staff to half a month`s pay or 8,000 Hong Kong dollars (1,026 US), whichever is higher.

Indonesia exploring possibility of closer cooperation with Mongolia Posted: 19 Nov 2008 02:01 PM CST Indonesia is currently exploring the possibility of cooperating in various fields with Mongolia in an effort to strengthen its relations with the north Asian country, Indonesia`s chief diplomat here said.

Five killed in US missile strike in northwest Pakistan: officials Posted: 19 Nov 2008 02:00 PM CST A missile strike by a suspected US drone killed at least five people including foreigners in northwest Pakistan near the Afghan border, security officials said Wednesday.

Yudhoyono : RI, Brazil should help solve global problems Posted: 19 Nov 2008 07:52 AM CST family: Courier New;">Brasilia (ANTARA News) - President Susilo Bambang Yudhoyono has said that Indonesia and Brazil need to develop the potentials they have in common in order to contribute to the solution of global problems such as the present world financial crisis.

Kadin sees bleak prospects for 09 oil investment Posted: 19 Nov 2008 07:29 AM CST The prospects for oil and gas investment in Indonesia in 2009 look bleak due to the global financial crisis which is expected to reach its peak next year, an Indonesian Chamber of Commerce and Industry (Kadin) executive said.

Thailand`s rice, chicken exports to decline in 2009 Posted: 19 Nov 2008 07:27 AM CST Thailand's exports of rice and chicken are expected to be gloomy in 2009 due to the ongoing global economic slowdown and uncompetitive prices of Thai rice, industrial experts said Tuesday.

India to help Nepal set up power trading entity Posted: 19 Nov 2008 07:24 AM CST India has entered into an agreement with Nepal to help it set up a power trading entity, which the Himalayan nation has asked for to be able to export power, on the lines of Power Trading Corporation of India.

India`s Parsvnath forms infrastructure jv with Spain`s San Jose Posted: 19 Nov 2008 07:21 AM CST Indian realty firm Parsvnath Developers (BSE:532780) has announced a joint venture with Spanish company Constructora San Jose to bid for infrastructure development projects.

India`s Max New York Life Insurance may hire 44,000 this fiscal year Posted: 19 Nov 2008 07:18 AM CST India's fourth largest private sector insurer Max New York Life Insurance is mulling hiring around 14,000 employees and 30,000 agents in the current fiscal year, at a time when many global companies are slashing jobs to cut costs amid global recession.

Australia`s mining, energy industries continue to boom Posted: 19 Nov 2008 07:10 AM CST Australia's mining and energy industries continue to boom - but it's too early to tell what impact the global financial crisis might have on the resources sector.

India`s SAIL sets up task forces to review steel demand Posted: 19 Nov 2008 07:06 AM CST Facing twin problems of a dip in demand and prices leading to a glut in almost all categories of products, steel giant SAIL (BSE:500113) has constituted five task forces to review the market and take corrective steps.

Japanese shipbuilding orders sink 80% in October Posted: 19 Nov 2008 07:03 AM CST The global economic turmoil has dampened investment enthusiasm at shipping companies, resulting in an 80 per cent year-over-year plunge in October shipbuilding orders in Japan, according to industry data released Tuesday.

Pakistan to invest US$13 bln in power sector to 2015 Posted: 19 Nov 2008 07:01 AM CST About US$13 billion is expected to be invested in the power sector in the years to 2015, said Raja Pervez Ashraf, Pakistan's Federal Minister for Water and Power.

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