Indonesia

Thousands of workers laid off in Indonesia

Thousands of workers laid off in IndonesiaJakarta - The global economic meltdown has forced a number of Indonesian labour-intensive industries to lay off more than 12,000 workers, media reports said Friday.

Businessmen claimed that the global financial crash has started affecting the export sector in November and many exported products were rejected by buyer countries, which could force many more companies to stop production.

Riau Andalan Pulp and Paper (RAPP), announced Thursday that it would dismiss 1,000 workers and temporarily lay off another 1,000, in a move to help stop the company from failing.

Indonesian stocks drop more than 2 per cent

Indonesian stocks drop more than 2 per centJakart

Death toll in Indonesian quake rises to six

Death toll in Indonesian quake rises to sixJakarta  - The death toll from a powerful earthquake that struck off Indonesia's North Sulawesi province increased to six with nearly 80 people injured, officials said Tuesday.

Of the 77 people injured in Monday's magnitude-7.7 quake, 13 were in serious condition, said Rustam Pakaya, head of the Health Ministry's crisis centre.

Pakaya said three people were killed and 45 injured in the Buol district of Central Sulawesi province while three people died and 32 were injured by falling debris in the northern district of Gorontalo.

Indonesia's economic growth slows

Indonesia's economic growth slowsJakarta  - Indonesia's annual economic growth in the third quarter slowed from the second as the global financial crisis weighed on export demand, particularly for its commodities, media reports said Tuesday.

According to the Central Statistics Agency (BPS), the economy expanded 6.1 per cent year-on-year in the third quarter, slowing from 6.4 per cent growth seen in the preceding three months. However, that was better than the expected growth of 5.9 per cent.

Indonesian quake kills four, dozens injured

Jakarta - At least four people were killed, nearly 60 others wounded and more than 1,500 buildings were damaged after a powerful undersea earthquake struck off the Indonesia's North Sulawesi early Monday, officials said.

The 7.7-magnitude quake struck at 1:02 am (1702 GMT Sunday) with its epicenter in the sea about 138 kilometres north-west of Gorontalo on North Sulawesi, about 1,950 kilometres north-east of Jakarta. It occurred about 10 kilometres beneath the seabed.

The US Geological Survey measured the quake at 7.5 on the Richter scale.

Indonesia's National Meteorology and Geophysics Agency (BMG) briefly issued a tsunami warning, but the alert was canceled after no tidal waves materialized, an official said.

Egyptian President to address Indo Egyptian Business Forum today

New Delhi, Nov 17 : Egyptian President Mohammad Hosni Mubarak, who arrived on a four-day visit to India, will address the Indo Egyptian Business Forum today.

The President is accompanied by a high-level delegation including several ministers, senior officials and businesspersons.

On Tuesday, President Mubarak will be presented the Jawaharlal Nehru Award for International Understanding, which was conferred on him for the year 1995.

The focus of Mubarak''s visit will be on intensifying strategic and economic cooperation between India and Egypt. The two countries are old friends and founders of the non-aligned movement and South-South cooperation.

Pages