Word: indonesianness
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Sooner or later, the citizens of Padang feared, they would be next. Sitting on the same earthquake fault line that triggered the deadly 2004 Asian tsunami, the Indonesian city of 900,000 on the island of Sumatra is one of the world's most vulnerable to seismic activity. Just after 5 p.m. local time on Sept. 30, disaster finally struck when a 7.6-magnitude earthquake jolted Padang, killing at least 529 people, according to the nation's Social Affairs Ministry...
...death toll is expected to climb dramatically. Indonesia's National Disaster Management Agency announced on Thursday that some 500 buildings had collapsed in the city, with thousands of people still trapped under the rubble. Hospitals, mosques, schools and hotels tumbled to the ground, according to witnesses interviewed on Indonesian television. Outlying areas closer to the earthquake's epicenter have essentially been cut off by landslides. With power down and rain pelting the region, it's impossible to determine yet how badly those districts were affected. But government officials, including the head of Indonesia's Health Ministry, expressed fears that thousands...
...Because all of these countries are growing more robustly than the U.S., their interest rates are higher, thus creating a short-term opportunity for traders. Here's how it works with a currency like the Indonesian rupiah: the six-month London Interbank Offer Rate (or LIBOR, the benchmark for U.S. dollar borrowing), is now hovering at slightly less than 1%. That rock-bottom rate stands in stark contrast to the 6.5-7% rate of interest one can get from a short-term money market bill in Indonesia, where the 5-year government bond currently yields roughly 9%. The wide...
...short-term yield. One factor behind its growing popularity in Asia is because the other side of the trade - the currency one buys with the dollars one cheaply borrows - are mostly to be found in the Asia-Pacific region. Most coveted, according to traders, are the Australian dollar, the Indonesian rupiah, and even the infrequently circulated Sri Lankan rupee...
...Indonesian President Susilo Bambang Yudhoyono called for the use of “soft power” to resolve conflict among eastern, western, and Islamic civilizations and outlined nine global “imperatives” for promoting peace and prosperity in the 21st century in a speech at the Harvard Kennedy School yesterday evening...