Word: indonesianness
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Social unrest, militant unions, wrongheaded economic policy and rapacious local businessmen out to gain by hook or by crook contribute to what global investors call "political risk." It's something Indonesia has in spades. In June, in an apparent power struggle with its former Indonesian partner, a local unit of Canadian insurer Manulife Financial Corp. was declared bankrupt by a domestic court despite the fact that the operation was solvent and profitable. The inexplicable decision, made because Manulife didn't pay a dividend to shareholders in 1999, was later overturned, but not before the case received international publicity. Partly...
...Security concerns, too, continue to dog foreign operators, who are targets for myriad Indonesian groups with grievances and agendas. Last year, ExxonMobil closed its gas field in Aceh for four months due to safety concerns as violence escalated in the region, where separatist rebels are fighting a guerrilla war against the government. Now 3,000 government troops guard the site, but turmoil continues. Earlier this year, a bicyclist carried a pipe bomb to within a few hundred meters of the front gate of the gas field operation when the bomb detonated prematurely, killing him. "Indonesia is becoming the Nigeria...
...message to manufacturers is clear: head for greener, safer pastures. Benny Soetrisno, head of the Indonesian Textile Association, says the industry is suffocating. Last year, Indonesian textile exports fell by 7%, to $7.6 billion. Soetrisno expects another 10% drop this year. "If we don't find a solution soon, the textile manufacturing sector could be dead by 2005," he warns, adding that 1.3 million jobs would be lost with it. "At this point, we're not growing at all. We are only trying to survive." Anton Supit, chairman of the Indonesian Footwear Association, tells a similar story. He expects exports...
...Overall, Nike, which accounts for about 120,000 Indonesian jobs, is not reducing its business in Indonesia, even after the Bali attack, Helzer says. But the company has been gradually shifting production elsewhere. In 1998, Indonesia accounted for 34% of Nike's total footwear output; this year that share will be in the "high 20s," according to Helzer. Meanwhile, Vietnam has skyrocketed from zero in 1995 to about 15% of production and Thailand's share has increased to about 15%. China remains the heavyweight, accounting for nearly 40% of production this year. In Indonesia, "We didn't see a whole...
Person of the Week A nation with a largely Muslim population, Indonesian President Megawati Sukarnoputri ignored the warnings about Islamic extremism. But with the dead still being counted after the bombings in Bali, terror has been laid at her doorstep. With the long-awaited arrest of alleged Jemaah Islamiah leader Abubakar Ba'asyir, is "Mom" finally getting tough...