Indonesian Political, Business & Finance News

Archive: 16 September 2003

87 articles found

'Tempo' charged with violating 'primitive' law

'Tempo' charged with violating 'primitive' lawTertiani ZB Simanjuntak, The Jakarta Post, Jakarta The trial of Tempo journalists accused of defaming businessman Tomy Winata started at the Central Jakarta District Court on Monday, with the prosecution charging Bambang Harymurti, Ahmad Taufik and...

Post-IMF program announced

Post-IMF program announcedFitri Wulandari, The Jakarta Post, Jakarta After a month-long delay, the government announced on Monday the country's post-International Monetary Fund (IMF) economic reform program, which is expected to help maintain investor confidence in the economy once the existing IMF...

TV Program: Tuesday, September 16, 2003

TV Program: Tuesday, September 16, 2003TVRI .TB.30" .90" 5:00 a.m. Religious Teachings6:00 News: Berita Pagi7:00 Magic Show7:30 Music9:00 Business Magazine10:00 Music11:30 Music: Konteswara 12:00 p.m. Talk Show: Konsultasi Keluarga 1:00 News: Berita Siang2:00 TV Drama3:00 City News3:30...

Expert, activists seek end to state-sponsored discrimination

Expert, activists seek end to state-sponsored discriminationKurniawan Hari, The Jakarta Post, Jakarta Analysts and human right groups urged the government on Monday to end "state-sponsored discrimination" of Chinese-Indonesians and family members of suspected communist party members, rather than...

Residents reject council's bonus request

Residents reject council's bonus request SEMARANG: Residents of Sragen regency, Central Java, gathered here on Monday to oppose a request by local councillors for bonuses of Rp 50 million each when they end their five-year term next year.

Four win Bung Hatta Anti-Corruption Award

Four win Bung Hatta Anti-Corruption AwardA'an Suryana, The Jakarta Post, Jakarta Four people won on Monday the Bung Hatta Anti-Corruption Award for their relentless dedication to the fight against corruption.

Thai economy grows 5.8 percent in second quarter, 2003 forecasts raised

Thai economy grows 5.8 percent in second quarter, 2003 forecasts raised Agence France-Presse Bangkok Thailand's economy grew 5.8 percent in the second quarter, pushing the full-year forecast to a healthy 5.8-6.2 percent from an earlier projection of 4.5-5.

DJ Asian Currencies Mixed Late; Strong Econ Data Helps Baht

DJ Asian Currencies Mixed Late; Strong Econ Data Helps Baht Dow Jones Singapore Better-than-expected second-quarter economic growth in Thailand boosted investor sentiment toward the baht on Monday, while other Asian currencies were mixed.

NU leaders take courses in UK

NU leaders take courses in UK JAKARTA: At least twelve leaders of the Nahdlatul Ulama (NU) Islamic boarding schools (pesantren) left for the United Kingdom over the weekend to attend a five-week training course.

Sumatran rhino on brink of extinction

Sumatran rhino on brink of extinction BENGKULU, Bengkulu: An environmentalist warned on Monday that unless adequate measures were taken, the Sumatran rhino, which live in protected forests in Bengkulu province, would soon become extinct.

Russia delivers two Mi-35 assault choppers

Russia delivers two Mi-35 assault choppersThe Jakarta Post JakartaFollowing the delivery of four Sukhoi jet fighters late last month, two Mi-35 assault helicopters Indonesia purchased from Russia along with the warplanes arrived in Jakarta on Monday.

Malaysia's central bank rejects pressure to change dollar peg

Malaysia's central bank rejects pressure to change dollar pegAgence France-Presse, Kuala Lumpur Malaysia's central bank on Monday rejected pressure to shift to a more flexible currency regime, saying the country's five- year-old ringgit peg to the dollar would be maintained to promote its trade and...

Fourteen killed in Aceh as war continues to rage

Fourteen killed in Aceh as war continues to rageNani Farida, The Jakarta Post, Banda Aceh, Aceh Fourteen more people, including a police officer and two unidentified people, were killed in the military operation in Nanggroe Aceh Darussalam (NAD), police and the military sources said on Monday.

Visits to dentist ineffective for 30 years

Visits to dentist ineffective for 30 yearsSari P. Setiogi The Jakarta Post JakartaHundreds of billions of rupiah have been spent on the School Dental Health Care Unit (UKGS) program for elementary students over the past few decades without producing satisfactory results, prompting the government to...

Part 2 of 2

Part 2 of 2APEC, maritime security measuresMakarim Wibisono, Chairman , APEC Counter-Terrorism Task Force, Jakarta Some of the other components of APEC's comprehensive counterterrorism strategy are measures to deny terrorists access to the world's financial system, while at the same time, using the...

Historic warplane wreckage found by villager in Riau

Historic warplane wreckage found by villager in Riau PEKANBARU, Riau: The wreckage of a warplane found last month in a forest in Pelalawan regency, Riau province, is believed to be the one last piloted by Indonesian independence hero Halim Perdanakusuma.Pekanbaru Air Force Base spokesman Capt.

Unggul Indah to issue Rp 600b bonds

Unggul Indah to issue Rp 600b bonds JAKARTA: Indonesia's petrochemical company PT Unggul Indah Corp. will issue Rp 600 billion (US$70.9 million) in five-year bonds in October mainly to repay a debt and to help expand production, it said Monday.

3 x 12

3 x 12 Hotel catches fire again, dozens hurt JP/5/tabrak1 x 45 Four students killed after truck hits minivan JP/5/wamena2 x 26 Six soldiers stand trial over arms raid in Wamena 2 x 29Historic warplane wreckage found by villager in Riau

On residential and business areas

On residential and business areasFrom Kompas Many residential areas in Jakarta, Menteng and Kebayoran, for example, have become residential-cum-business areas, a situation that is very disturbing to residents.

Taxi driver found dead

Taxi driver found deadDEPOK: A taxi driver was found dead in Tapos subdistrict, Cimanggis, Depok, on Monday at around 5.30 a.m. Officers from Cimanggis police subprecinct have identified the deceased as Murdedi, in his early 30s, who worked as a driver for the Dian Taxi firm.

Hotel catches fire again, dozens hurt

Hotel catches fire again, dozens hurtFadli, The Jakarta Post, Batam, Riau A four-star hotel in Batam tourist resort, Riau province, caught on fire for the second time this month, causing dozens of workers and guests to be hospitalized.

House fails to finish bills

House fails to finish bills JAKARTA: The House of Representatives is again unlikely to meet its legislation target, having finished only one bill -- on money laundering -- since the current session opened on Aug. 15.The House had aimed to complete deliberating 31 bills between Aug. 15 and Sept. 26.

'This country still using primitive laws'

'This country still using primitive laws'Tertiani ZB Simanjuntak The Jakarta Post JakartaThe trial of Tempo journalists accused of defaming businessman Tomy Winata started at the Central Jakarta District Court on Monday, with the prosecution charging Bambang Harymurti, Ahmad Taufik and Iskandar Ali...

Jamsostek should be reformed

Jamsostek should be reformed I am writing in response to your Aug. 30 article on the social security reform draft bill currently being considered by the House of Representatives. In the article, you quoted a PT Jamsostek official stating that there has been no privately provided social security...

Four students killed after truck hits minivan

Four students killed after truck hits minivanApriadi Gunawan, The Jakarta Post, Medan, North Sumatra A truck collided with a passenger minivan in Deliserdang regency, North Sumatra, on Monday, killing at least four senior high school students, including two females, and injuring eight others.

U.S. grants Manila access to information on Hambali

U.S. grants Manila access to information on HambaliAgencies, Manila/Bangkok The United States has agreed to grant the Philippines access to information on captured Jamaah Islamiyah (JI) militant Hambali but will not allow Filipino investigators to directly question him, the foreign secretary said...

Inspection or corruption?

Inspection or corruption?From Kontan Jakarta's land transportation office plans to conduct private vehicle roadworthiness inspections as a prerequisite for extending motor vehicle registrations. This is reportedly meant to guarantee the roadworthiness of all cars and prevent further air pollution...

Six soldiers stand trial over arms raid in Wamena

Six soldiers stand trial over arms raid in WamenaNethy Dharma Somba, The Jakarta Post, Jayapura, Papua A military tribunal formally charged on Monday six of nine soldiers in connection with the April burglary of munitions from the Wamena military arsenal, in which three people, including two...

Residential and business areas

Residential and business areasFrom Kompas Many residential areas in Jakarta, Menteng and Kebayoran, for example, have become residential-cum-business areas, a situation that is very disturbing to residents.

ASEAN to hold anti-terror exercises

ASEAN to hold anti-terror exercisesMALAYSIA: Southeast Asian army chiefs have agreed to hold regional multilateral exercises to boost efforts in fighting terrorism, Malaysia's army chief said on Monday.

Thai, RI to oppose dumping accusations

Thai, RI to oppose dumping accusationsAntara/TNA, Cancun, Mexico Thailand is joining forces with Indonesia and Vietnam to oppose U.S. accusations of dumping cheap prawns on the U.S. market, according to Commerce Minister Adisai Bodharamik.

Govt paying 109,000 absentee civil servants

Govt paying 109,000 absentee civil servantsFabiola Desy Unidjaja, The Jakarta Post, Jakarta A minister disclosed on Monday that the government has been paying salaries to about 109,000 civil servants whose whereabouts are unknown, indicating the poor state of data on public employees nationwide.

Fire razes 200 homes in Karet Tengsin

Fire razes 200 homes in Karet TengsinDamar Harsanto, The Jakarta Post, Jakarta Thousands of people lost their homes after a fire destroyed more than 200 homes behind the Karet Tengsin low-cost apartments in Central Jakarta on Monday.

Taxi driver found dead

Taxi driver found deadDEPOK: A taxi driver was found dead in Tapos subdistrict, Cimanggis, Depok, on Monday at around 5.30 a.m. Officers from Cimanggis police subprecinct have identified the deceased as Murdedi, in his early 30s, who worked as a driver for the Dian Taxi firm.

Megawati launches 14 alternative fuel projects worth $2 billion

Megawati launches 14 alternative fuel projects worth $2 billionThe Jakarta Post, Indramayu, West Java President Megawati Soekarnoputri officiated over 14 oil and gas projects worth US$1.976 billion on Monday, some of which are expected to boost the use of clean fuel, including natural gas and...

Tourism agency holds road shows

Tourism agency holds road showsJAKARTA: The city administration will continue to focus on attracting domestic tourists as they had greater potential than foreign tourists given present circumstances, said Aurora Tambunan, the head of the city's tourism agency, on Monday.

Iran offers block to Pertamina

Iran offers block to Pertamina JAKARTA: Iran has offered an oil block to Indonesia's state- owned oil and gas company Pertamina, an Indonesian government official said on Monday. Oil and gas director-general at Indonesia's Mines and Energy Ministry, Iin Arifin Takhyan, told reporters the government...

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b] Arrested or disappeared? Families and police at odds Expert, activists seek end to state-sponsored discrimination Govt paying 109,000 absentee civil servants Carbon emission reduction project interest Few corruption cases reach court House fails to finish bills NU leaders take courses in UK Mega...

On Uncle Sam vs the world

On Uncle Sam vs the worldI refer to the letter by David Wallis titled Uncle Sam vs the world published in The Jakarta Post on Sept. 1.This aptly titled letter is a sad reflection of the state of U.S. relations with, not all, but much of the world. The U.S.

1. IRAN: 48pt, 3 cols, 3 x 18

1. IRAN: 48pt, 3 cols, 3 x 18 Iran remains fully committed to NPT: Iran vice president 2. WTO: 36 pt, 3 cols, 2 x 25 Pyrrhic victory for poor as Cancun WTO talks fail 3. SEOUL: 32 pt, 4 cols, 2 x 30 South Korea counts cost after devastating typhoon Maemi 4.

JAKARTA: Iran has offered an oil block to Indonesia's state-

JAKARTA: Iran has offered an oil block to Indonesia's state- owned oil and gas company Pertamina, an Indonesian government official said on Monday.Oil and gas director-general at Indonesia's Mines and Energy Ministry, Iin Arifin Takhyan, told reporters the government received a letter on the offer...

Promising future for sharia banks

Promising future for sharia banksAde Jamaludin, Contributor, Jakarta The main function or role of a bank as an intermediary institution -- more than saving and borrowing -- is gradually developing further in line with current public demand.

Few corruption cases reach court

Few corruption cases reach court BANDUNG: The number of corruption cases investigated and tried in court was not as high as people presumed, Chief Justice Bagir Manan said on Monday.Speaking at the opening ceremony of the Supreme Court's national working meeting in Bandung, West Java, Bagir said...

State of emergency in Maluku lifted

State of emergency in Maluku liftedAzis Tunny and Octovianus Pinontoan, The Jakarta Post, Ambon, Maluku The government lifted the state of civil emergency in Maluku on Monday after security conditions normalized in the province, where over 6,000 people were killed in a three-year sectarian conflict.

Perbanas' new face

Perbanas' new face The performance of the Indonesian Association of Commercial Banks (Perbanas) drastically dropped following the onset of the economic crisis in mid 1997. The crisis forced the government to bail out banks grouped within Perbanas.Perbanas, however, has begun to change.

Tanjung Priok rights trial kick off

Tanjung Priok rights trial kick offA'an Suryana, The Jakarta Post, Jakarta Eleven active military personnel were formally charged with crimes against humanity on Monday for their role in the bloody Tanjung Priok massacre in 1984.

;JP;MUN;

;JP;MUN; ANPAa..r.. Carbon-trade-result RI carbon projects attract foreign buyers JP/4/SCENERI carbon projects attract foreign buyersMuninggar Sri Saraswati The Jakarta Post Jakarta Several carbon emission reduction projects under the Clean Development Mechanism (CDM) that the Indonesian delegation...

Residents reject council's bonus request

Residents reject council's bonus request SEMARANG: Residents of Sragen regency, Central Java, gathered here on Monday to oppose a request by local councillors for bonuses of Rp 50 million each when they end their five-year term next year.

Top CEOs to speak at Bali summit

Top CEOs to speak at Bali summitThe Jakarta Post, Jakarta World-class CEOs from the region and other parts of the world will speak at the upcoming ASEAN business and investment summit on Bali, a top envoy said.Chairman of the ASEAN Business Advisory Council (ASEAN BAC) Rudy J.

New airline makes emergency landing

New airline makes emergency landingAgencies, Sydney, Australia An airplane belonging to a new Indonesian-owned airline made an emergency landing at Sydney's international airport on Monday after a faulty cockpit light indicated a problem with its hydraulics, the carrier said.

Unggul Indah to issue Rp 600b bonds

Unggul Indah to issue Rp 600b bonds JAKARTA: Indonesia's petrochemical company PT Unggul Indah Corp. will issue Rp 600 billion (US$70.9 million) in five-year bonds in October mainly to repay a debt and to help expand production, it said Monday.

It is ironic that despite being an agricultural country with

It is ironic that despite being an agricultural country with farmers consisting the majority of its population, Indonesia remains to be the world's largest food importer. Every year, the country imports at least 2 million tons of rice, 1.6 million tons of sugar, and 1.3 million tons of soybean.

Where to go in Bandung for Tuesday, September 16, 2003

Where to go in Bandung for Tuesday, September 16, 2003Exhibitions* Photo Bali Baru-Baru Ini, at CCF - French Cultural Center, Jl. Purnawarman 32 (Tel. 022 4212417), 10 a.m. to 5 p.m., Sept. 22 - 26. * Photo Image et paysage at Galeri Kita, Jl. R.E. Martadinata No. 209, 10 a.m. to 5 p.m., Sept.

Parking lot for shoppers provided

Parking lot for shoppers providedThe Jakarta Post, Jakarta City administration is preparing a 2.9-hectare plot of land in the Waduk Melati area, Central Jakarta, as a temporary parking lot for visitors to Tanah Abang market in order to ease the flow of traffic around the market and surrounding...

Indosat plans Rp 1.75t bond

Indosat plans Rp 1.75t bond JAKARTA: Indonesia's second-largest telecommunications company PT Indonesian Satellite Corp. On Monday said it's planning to sell Rp 1.75 trillion (US$207 million) worth of bonds to local investors later this year to refinance the debt of cellular unit PT Satellite...

New Indonesian-owned airplane makes emergency landing due to

New Indonesian-owned airplane makes emergency landing due to faulty light Agencies Sydney, Australia An airplane belonging to a new Indonesian-owned airline made an emergency landing at Sydney's international airport on Monday after a faulty cockpit light indicated a problem with its hydraulics,...

Mega worried about state documents

Mega worried about state documents JAKARTA: President Megawati Soekarnoputri expressed concern Monday over the disappearance of thousands of important state documents, including the Surat Perintah 11 Maret (The March 11 Instruction Letter), popularly known as Supersemar.

Golkar's candidates in Makassar

Golkar's candidates in Makassar MAKASSAR, South Sulawesi: Seven of 19 presidential hopefuls vying for the Golkar party nomination, unveiled their vision and mission in front of Golkar leaders in Makassar, South Sulawesi on Monday.The seven candidates were Akbar Tandjung, Gen.

Cambodia denies bail to three accused JI members: Cambodia's

Cambodia denies bail to three accused JI members: Cambodia's Appeals Court on Monday denied bail to two Thais and an Egyptian charged with belonging to the regional terror group Jamaah Islamiyah (JI) and having links with the al-Qaeda network.

BI says continuing post-IMF reforms crucial for economy

BI says continuing post-IMF reforms crucial for economyRendi A. Witular, The Jakarta Post, Jakarta Bank Indonesia (BI) governor Burhanuddin Abdullah said on Monday that pressing ahead with the current economic reform program was crucial to maintaining the country's economic recovery next year.

Election for people, not parties

Election for people, not partiesFrom Media Indonesia The President in our country will later be directly elected, but this is reportedly to be conducted in (two) phases. In this way, the emergence of axes of political parties and "money politics" may recur.

Yogyakarta artists take top honors at Indonesia/ASEAN Arts Awards

Yogyakarta artists take top honors at Indonesia/ASEAN Arts AwardsTantri Yuliandini, The Jakarta Post, Jakarta Yogyakarta proved that it was still the center of Indonesian art as five artists from the city stole the limelight from 1,199 other artists from across Indonesia at the Indonesia/ASEAN Arts...

JP/4/TNI

JP/4/TNIMore oppose revisions of antiterror lawTiarma Siboro The Jakarta Post JakartaA retired police officer has joined human rights groups in opposing the government's plan to amend Law No. 15/2003 on antiterrorism that would give the military a greater role in preventing terrorism here.

Arrested or disappeared? Families, police at odds

Arrested or disappeared? Families, police at oddsM. Taufiqurrahman, The Jakarta Post, Jakarta Police admitted on Monday that they had put in custody a number of people suspected of having links with terrorists, but denied suggestions that they had violated basic human rights or the criminal code...

1. Cancun (2 x 30)

1. Cancun (2 x 30) Local business leaders, activists cheer failure of WTO talks 2. Fact (1 x 42) Key issues behind failure of Cancun trade talks 3. BI (3 x 16) BI says continuing post-IMF reforms crucial for economy Box Kadin to invite foreign advisors 4.

New Indonesian-owned airplane makes emergency landing due to

New Indonesian-owned airplane makes emergency landing due to faulty light Associated Press Sydney, Australia An airplane belonging to a new Indonesian-owned airline made an emergency landing at Sydney's international airport on Monday after a faulty cockpit light indicated a problem with its...

Two terrorist accomplices sentenced in Bali

Two terrorist accomplices sentenced in BaliWahyoe Boediwardhana, The Jakarta Post, Denpasar, Bali The district court in Bali has jailed two defendants for their roles in aiding and abetting those involved in the Oct. 12, 2002, Bali bombings.

RI offers condolences to Sweden

RI offers condolences to Sweden JAKARTA: The Indonesian government offered on Friday its condolences to Sweden over the death of foreign minister Anna Lindh.Spokesman for the Indonesian foreign ministry Marty Natalegawa said Minister of Foreign Affairs Hassan Wirayuda, on behalf of the Indonesian...

Bombing drill panics passers-by

Bombing drill panics passers-by JAKARTA: A bomb planted in a green Datsun car exploded at 11.15 a.m. across from the Artha Graha building in the Sudirman Central Business District in South Jakarta.In minutes, the police bomb squad had cordoned off the scene, and the deafening sirens of arriving...

Rp 37b wasted on flood project

Rp 37b wasted on flood projectBambang Nurbianto, The Jakarta Post, Jakarta While many Jakartans are still suffering from water shortages due to a prolonged dry season, they have now been warned about the possibility of flooding in the near future.

1,238 register for DPD seats

1,238 register for DPD seats JAKARTA: Some 1,238 people have registered at the General Elections Commission (KPU) to contest 128 seats on the Regional Representatives Council (DPD) in the 2004 election, the KPU said Monday.

Unemployment and poverty

Unemployment and poverty State Minister for National Development Planning Kwik Kian Gie revealed in a recent seminar figures for the labor force, job opportunities and unemployment.According to Kwik, who is also chairman of the National Development Planning Board (Bappenas), the country's...

Inspection or corruption?

Inspection or corruption?From Kontan Jakarta's land transportation office plans to conduct private vehicle roadworthiness inspections as a prerequisite for extending motor vehicle registrations. This is reportedly meant to guarantee the roadworthiness of all cars and prevent further air pollution...

* Headlines: Megawati launches clean fuel projects 3

* Headlines: Megawati launches clean fuel projects 3 * National: End to state-sponsored discrimination sought 4 * Archipelago: Hotel catches fire again, dozens hospitalized 5 * Opinion: How can Qurie curb the conflict with Sharon? 7 * City: Depressed Gunawan needs psychiatric help: Lawyer 8 *...

Indonesia carbon projects attract foreign buyers

Indonesia carbon projects attract foreign buyersMuninggar Sri Saraswati, The Jakarta Post, Jakarta Several carbon emission reduction projects under the Clean Development Mechanism (CDM) that the Indonesian delegation offered at last week's environmental forum in the Philippines have piqued the...

Gunawan needs psychiatric help: Lawyer

Gunawan needs psychiatric help: LawyerDamar Harsanto, The Jakarta, Jakarta Gunawan Santosa, 39, the alleged mastermind of the July 19 killing of businessman Boedyharto Angsono and his bodyguard, Army's Special Forces (Kopassus) Second Sgt.

1998 violence a crime against humanity: Team

1998 violence a crime against humanity: TeamMuninggar Sri Saraswati, The Jakarta Post, Jakarta An ad hoc team set up by the National Commission on Human Rights declared on Monday that crimes against humanity were committed during the bloody riots on May 13 and May 14, 1998, and urged the Attorney...

Officer 'commits' suicide over affair

Officer 'commits' suicide over affair PALU, Central Sulawesi: A police officer in Central Sulawesi, Brig. Max Purnomo, allegedly committed suicide early on Monday after he was caught having an affair with a friend's wife.

KPC says no surrender to worker pressure

KPC says no surrender to worker pressureFitri Wulandari and Ridwan Sijabat, The Jakarta Post, Jakarta The management of private coal mining firm PT Kalimantan Prima Coal (KPC) strongly urged its 400 striking employees to go back to work or else they would be deemed to have resigned.

ASEAN to hold anti-terror exercises

ASEAN to hold anti-terror exercises MALAYSIA: Southeast Asian army chiefs have agreed to hold regional multilateral exercises to boost efforts in fighting terrorism, Malaysia's army chief said on Monday.

Thieves hit Guess counter

Thieves hit Guess counter JAKARTA: Thieves ransacked a Guess watches counter on the first floor of the Kelapa Gading Mall in North Jakarta on Monday morning, and escaped with hundreds of wrist watches.Total losses amounted to more than Rp 500 million.A counter employee reporting for work at 9 a.m.

Creating employment

Creating employment opportunities From Suara Karya As Indonesia struggles to emerge from economic crisis, unemployment has reached alarming levels. On Jan. 28, 2002, as many as 50 million Indonesians were unemployed.

Few corruption cases reach court

Few corruption cases reach court BANDUNG: The number of corruption cases investigated and tried in court was not as high as people presumed, Chief Justice Bagir Manan said on Monday.Speaking at the opening ceremony of the Supreme Court's national working meeting in Bandung, West Java, Bagir said...

Saudi Arabia agrees to step up investment, trade with Indonesia

Saudi Arabia agrees to step up investment, trade with IndonesiaAntara, Jeddah, Saudi Arabia Indonesian Vice President Hamzah Haz disclosed here on Sunday evening (Monday morning in Jakarta) that the Kingdom of Saudi Arabia has agreed to step up investment and trade relations between the two...

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_________________________________________________________________________________________ Rupiah Rates Sept.15 _________________________________________________________________________________________ Banknote rates TT rates Selling Buying Selling Buying Australian dollar 1 5,932.69 5,266.21 5,629.

Local business leaders, activists cheer failure of WTO talks

Local business leaders, activists cheer failure of WTO talks The World Trade Organization's latest round of talks in Cancun, Mexico, collapsed on Sunday over sharp differences between poor and rich countries.

The performance of the Indonesian Association of Commercial

The performance of the Indonesian Association of Commercial Banks (Perbanas) drastically dropped following the onset of the economic crisis in mid 1997. The crisis forced the government to bail out banks grouped within Perbanas. Perbanas, however, has begun to change.