Advertisement
YOU ARE HERE: LAT HomeCollectionsSoutheast Asia Currency
IN THE NEWS

Southeast Asia Currency

FEATURED ARTICLES
BUSINESS
July 26, 1997 | Associated Press
The foreign ministers of Southeast Asian nations blamed "well-coordinated efforts" for a series of speculative attacks that have pushed their currencies sharply lower in recent weeks. The ministers, attending a meeting of the Assn. of Southeast Asian Nations in Kuala Lumpur, Malaysia, said "self-serving purposes" motivated the campaign to drive down their currencies. They did not identify the guilty parties by name.
ARTICLES BY DATE
BUSINESS
December 15, 1997 | EVELYN IRITANI, TIMES STAFF WRITER
By late July, Orlando Ayala knew he had a serious problem in Southeast Asia, where a rash of currency devaluations was strangling the demand for imported software. After battling software pirates to build up a $200-million-a-year market for Microsoft Corp.'s products in the region, Ayala was determined not to let jittery investors and speculators ruin his work. Within 24 hours, the software executive had devised a plan designed to keep his distributors in business until the worst was over.
Advertisement
BUSINESS
December 15, 1997 | EVELYN IRITANI, TIMES STAFF WRITER
By late July, Orlando Ayala knew he had a serious problem in Southeast Asia, where a rash of currency devaluations was strangling the demand for imported software. After battling software pirates to build up a $200-million-a-year market for Microsoft Corp.'s products in the region, Ayala was determined not to let jittery investors and speculators ruin his work. Within 24 hours, the software executive had devised a plan designed to keep his distributors in business until the worst was over.
BUSINESS
July 26, 1997 | Associated Press
The foreign ministers of Southeast Asian nations blamed "well-coordinated efforts" for a series of speculative attacks that have pushed their currencies sharply lower in recent weeks. The ministers, attending a meeting of the Assn. of Southeast Asian Nations in Kuala Lumpur, Malaysia, said "self-serving purposes" motivated the campaign to drive down their currencies. They did not identify the guilty parties by name.
BUSINESS
February 5, 1999 | From Bloomberg News
Malaysia lifted a ban on foreign portfolio investors taking money out of the country, seeking to restore international confidence and attract the funds it needs to rebuild its shattered economy. Fund management firms--including Jardine Fleming and Aberdeen Asset Management Asia Ltd., with $18 billion trapped in Malaysian stocks and bonds since capital controls were imposed in September--will be able to take their money out of the country, paying a graduated "exit" tax of as much as 30%.
NEWS
July 29, 1997 | ROBIN WRIGHT, TIMES STAFF WRITER
In a confrontation with an increasingly important ally, the United States on Monday bluntly castigated Malaysia on highly sensitive economic and diplomatic issues during Secretary of State Madeleine Albright's final day of talks with leaders of the Assn. of Southeast Asian Nations, or ASEAN. Senior U.S.
BUSINESS
November 18, 1997 | DAVID HOLLEY, TIMES STAFF WRITER
In what could be the most far-reaching devaluation of an Asian currency to date, the South Korean won tumbled past the psychological milestone of 1,000 to the dollar Monday after the government retreated from its defense of the currency.
BUSINESS
July 13, 1997 | TOM PETRUNO
When it's going your way, capitalism naturally seems like the only logical economic system. What's not to like about the gloriously healthy U.S. economy and the ever-rising stock market, for instance? But when capitalism goes awry, the cost in human terms can be devastatingly high. And suddenly the wisdom of abiding by a free-market system is lost on many people.
OPINION
July 27, 1997 | Robert A. Manning, Robert A. Manning, a senior fellow at the Progressive Policy Institute, is a former State Department policy advisor (1989-93)
The stated goal of the Clinton administration's policy of "engagement" in Asia is building a "new Pacific community." But America's well-intentioned though sanctimonious stance toward Asia's human-rights record may inadvertently marginalize the United States in the world's most dynamic region. In Kuala Lumpur for the ASEAN Regional Forum this weekend, Secretary of State Madeline K. Albright may encounter some unexpected turbulence from her Asian counterparts on just what this "engagement" means.
WORLD
January 21, 2005 | Don Lee, Times Staff Writer
After thanking Allah for sparing his four children, Abudakar Usman checked his four supermarkets in this shattered city. Only one was functional. He offered another prayer, and then went to work. Usman called his suppliers in Medan, about a 12-hour drive away, persuading them to send truckloads of instant noodles, water, oil and sugar. Five of his 12 employees had been killed, so he rounded up survivors from other markets.
BUSINESS
July 15, 1997 | DAVID HOLLEY and EVELYN IRITANI, TIMES STAFF WRITERS
Japan, confronted with tottering financial markets across Southeast Asia triggered by devaluation of the Thai baht, is scrambling to organize an international bailout that could stabilize economies in Thailand and the region. Japanese and U.S. sources said Monday that a $20-billion loan package is taking shape for Thailand that would be led by Japan and supported by the International Monetary Fund. The U.S. Congress was briefed by Treasury officials on the volatile Southeast Asian situation.
Los Angeles Times Articles
|