Word: ringgits
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...Kuta in Bali was organized and executed on a regional scale. According to Aritonang, funding for the car bomb is believed to have originated from Thailand, Singapore and Malaysia in cash and electronic transfers. (Amrozi bought the van in East Java but paid in a combination of Malaysian ringgit and Singaporean dollars.) Police say at least five terrorist cells were involved in planning the attack, with members coming from four Southeast Asian nations: Indonesia, Malaysia, Thailand and the Philippines...
...companies to repay their debts. Late last year, Taiwan's President Chen ordered banks to keep lines of credit open to delinquent debtors, a move that has put a straitjacket on liquidity and dampened investment. Malaysian Prime Minister Mahathir Mohamad clings to a peg that has hugely overvalued the ringgit. "It's going to take Thailand and Malaysia 10 years," says Tim Condon, chief economist at ING Barings. "So far, most Asian economies aren't willing to let the market have its way with them...
...putting to one side the 10 weapons he has selected. Smiling all the time, carefully avoiding eye contact with the colonel, Joe reaches into a waist pack and counts out a thick wad of Malaysian currency. "I won't bring her again, I promise. Here, this is 11,000 ringgit [$2,895], right?" The colonel stops his tirade and waves to the corporal, who takes the cash and laboriously counts it. "Next week," Joe says, accepting a Carlsberg from the colonel, who is now smiling, "I'll be back. I want about 20 or 30 AKs and maybe also some...
...Anwar Ibrahim, appeared in court earlier this week sporting bruises and welts -- but that's nothing compared with the economic asphyxiation it's about to suffer. Currency controls opposed by Anwar came into effect Thursday, clamping down hard on the movement of capital, forbidding currency trading and fixing the ringgit's exchange rate. "Prime Minister Mahathir has effectively pulled his country out of the international economy," says TIME business reporter Bernard Baumohl. "By sharply limiting outflows of capital, Malaysia has scared away long-term investors whose capital is crucial to the building of infrastructure...
...shouldn?t have come as too much of surprise when the defiant Dr. Mahathir threw the switch Tuesday on a plan that has the Western economic establishment covering its eyes in horror -- but also peeking through its fingers: impose strict currency controls and save the embattled Malaysian ringgit simply by removing it from the fray. The theory is attractive, especially to the prickly Mahathir: An inconvertible currency can't come under attack by evil foreign speculators, and that frees the safely walled-in government to take a deep breath, lower its internal interest rates, and pull itself out of recession...