Section: The Jakarta Post (Indonesia)
Russia’s sinking economy becoming a global threat
Russia’s suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy.With economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged from Russia’s shriveled currency, its move to dramatically boost interest rates, the damage from plummeting oil...
Ruble collapse shakes Russian economy, consumers
Russian President Vladimir Putin faces a major new challenge after a catastrophic fall in the value of the ruble, which hit a new low Tuesday despite the Central Bank’s desperate efforts to halt the selling.On the streets of Moscow, panicky consumers rushed out to buy home appliances before they became even more expensive.Putin’s...
World stocks slip, China surges on stimulus hopes
Asian and European stocks slid Tuesday as further weakness in oil prices and the slumping Russian ruble helped extend the global market rout. Disappointing Chinese factory data added to the selling pressure although it also fueled hopes of more stimulus that lifted China’s stock benchmark.KEEPING SCORE: European stocks edged lower in early...
Asian stocks fall, China rises on stimulus hopes
Asian stocks slid Tuesday as further weakness in oil prices and the slumping Russian ruble helped extend the global market rout. China’s benchmark rose after poor factory data fueled hopes of more stimulus.KEEPING SCORE: Japan’s benchmark Nikkei 225 index tumbled 1.9 percent to 16,774.92 and South Korea’s Kospi lost 0.4 percent...
US lawmakers press Obama to back Russian sanctions
Republicans and Democrats spoke with one voice on Monday in pressing President Barack Obama to sign legislation that would slap new sanctions on Russia while providing weapons and other assistance to Ukraine.The widely popular legislation cleared Congress late Saturday, but the White House has remained non-committal about whether Obama will sign...
Ambassador calls for a ‘balanced decision’ for Total E&P Indonesie
Corinne Breuzé. JP/Arnaud Richard-FerraroFrench Ambassador to Indonesia, Timor Leste and ASEAN Corinne Breuzé received The Jakarta Post’s intern Arnaud Richard-Ferraro in France’s new embassy in Jakarta. She elaborated on the presence of France in Indonesia. Here is an excerpt:Question: Could you explain the state of bilateral...
Bank of Russia hikes rate to aid sinking currency
The Bank of Russia has drastically raised its key interest rate to 17 percent from 10.5 percent to try to boost its currency, which has been plunging along with oil prices.The moves comes after the ruble has shed roughly 50 percent of its value since January, battered by Western sanctions imposed over the conflict in Ukraine and a huge drop in...
Ukraine president urges Russia to withdraw troops
Australia pledged its support for Ukraine during a visit by the nation’s president on Thursday, with Australia’s prime minister calling for an end to the bloody conflict in Eastern Europe and Ukraine’s leader urging Russia to withdraw.Australian Prime Minister Tony Abbott, a sharp critic of Russia since Malaysia Airlines Flight...
UN predicts increased global economic growth
The global economy will grow by more than 3 percent in 2015 and 2016, the United Nations predicted Wednesday, but that growth will be uneven in some regions.The U.N.’s annual economic report says growth edged up in 2014 at an estimated 2.6 percent.The U.N. is forecasting 3.1 percent economic growth in 2015 and 3.3 percent growth in 2016.The...
Ukraine attempts new cease-fire in the east
Government troops and Russian-backed separatists largely suspended hostilities in east Ukraine Tuesday in a fresh attempt to revive a largely ignored cease-fire deal.The lull in fighting followed a proposal by Ukrainian President Petro Poroshenko to hold a “day of silence” as a precursor to a possible long-standing settlement.The...
