David DeVoss – The East Timor branch of Portugal's Banco Nacional Ultramarino in Dili looks like a modern financial institution.

Bill Guerin, Jakarta – Russian writer Fyodor Dostoyevsky said "there is no subject so old that something new cannot be said about it".

Jakarta – Indonesia's central bank (BI) and the UN Transitional Administration in East Timor (UNTAET) on Friday agreed to repatriate the equivalent of around 20 million dollars of Indon

Mark Dodd, Dili – East Timor In an effort to mend an economy devastated by the violence that accompanied the Indonesian withdrawal in 1999, the United Nations transitional administratio

The withdrawal of Indonesian rupiahs from Timor Lorosae was a good step because it would prevent confusion in currency usage in the country.

Mark Dodd, Dili – United Nations economic planners have launched a campaign to ensure the US dollar is the sole legal tender in East Timor.

Joanna Jolly, Dili – The head of the UN Central Payments Office, which manages the territory's tiny and shattered economy, told reporters that the world body was taking legal steps and

The World Bank has cancelled a three-hundred million dollar loan to help Indonesia's poor.

Indonesia's Bank Restructuring Agency (Ibra) yesterday rejected a local newspaper report that key officials, including the agency's chief, planned to resign.

Robert Go, Jakarta – Governor Syahril Sabirin reclaimed the helm at Bank Indonesia yesterday after a six-month detention period, escalating the three-way power tussle between President

Jakarta – A fire badly damaged the Audit and Development Supervisory Agency (BPKP) building in Central Jakarta yesterday, destroying documents on the huge liquidity loans given by the c

Robert Go, Jakarta – The Indonesian Bank Restructuring Agency (Ibra) would be investigated for holding back nearly eight trillion rupiah (S$1.68 billion) worth of funds that should have

Jonathan Thatcher, Jakarta – A growing feud between Indonesian President Abdurrahman Wahid and his scandal-tainted central bank governor threatens more damage to the country's already p

Nearly seven months in office, Indonesian President Abdurrahman Wahid can claim great achievements.

Edhi Pranasidhi, Jakarta – The Indonesian government has extended a ban on 128 bankers and shareholders of closed banks from traveling abroad, according to a decree signed by Finance Mi

Dili – Portuguese national guardsmen serving with the UN police force in East Timor were called Friday to the BNU bank in Dili, to control a crowd dissatisfied with a revised exchange r

Dili – East Timor will adopt the US dollar as its official currency under United Nations rule, a senior member of the National Council for Timorese Resistance (CNRT) told Reuters on Mon

Michael Richardson, Singapore – Like many other institutions from the rule of former President Suharto of Indonesia, the headquarters of the central bank in Jakarta has an impressive fa

Tim Dodd, Jakarta – Indonesian President Abdurrahman Wahid yesterday sacked a key economic official over the snail-like pace of banking reform, which is becoming a drag on economic reco

Jakarta – Indonesia's central bank, Bank Indonesia, said early Saturday that it passed the year date change – Y2K – without any computer glitches.

Jakarta – Bank Indonesia's deputy governor Ahjar Iljas said on Friday that Texmaco was among 20 exporting companies which received a preshipment rediscount facility from the central ban

Mark Dodd, Dili – As East Timor struggles to rebuild, a United Nations decision to introduce the Portuguese escudo into the fragile economy has caused mass confusion among an impoverish

Darwin – East Timor resistance leaders plan to use the Portuguese escudo as their currency for at least the territory's transitional period under UN administration.

Jakarta – The rupiah breached on Monday the 8,000 level against the US dollar as international pressure increased over Indonesia's handling of the East Timor issue.

Jakarta – The World Bank said on Wednesday international donors to Indonesia would be closely watching the situation in disputed East Timor and could change their stance if a UN-supervi

Gde Anugrah Arka, Jakarta – Indonesia said on Saturday it had closed 38 banks as part of a cleanup of the debt-laden industry considered crucial to efforts to rescue its ravaged economy

Jakarta – The country's debt service ratio (DSR) is predicted to reach an alarming level of 49.3% in the current fiscal year ending in March next year.

Greg Earl, Jakarta – The Indonesian Government is facing a damage bill of at least $30 billion to recapitalise more than 60 banks after the dual impact of bad lending practices and the

Tom McCawley, Jakarta – In the end, Indonesia's banking reform was more like amputation than elective surgery.

Jakarta – Bank Indonesia, the central bank, yesterday denied rumors that it would convert bank deposits into government bonds and freeze U.S. dollar accounts.

Russell Skelton, Tokyo – The bitter trade dispute between Japan and Indonesia over President Soeharto's controversial national car project has taken an unexpected turn.Japanese car make

Pui-Wing Tam – That is the message from fund managers as they survey the prospects of the Indonesian market in 1997.