1.
Stock exchange
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A stock exchange or bourse is an exchange where stock brokers and traders can buy and/or sell stocks, bonds, and other securities. Stock exchanges may also provide facilities for issue and redemption of securities and other financial instruments, Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as continuous auction markets, with buyers and sellers consummating transactions at a central location, to be able to trade a security on a certain stock exchange, it must be listed there. Trade on an exchange is restricted to brokers who are members of the exchange, the initial public offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market, supply and demand in stock markets are driven by various factors that, as in all free markets, affect the price of stocks. There is usually no obligation for stock to be issued via the exchange itself. Such trading may be off exchange or over-the-counter and this is the usual way that derivatives and bonds are traded. Increasingly, stock exchanges are part of a securities market. The idea of debt dates back to the ancient world, as evidenced for example by ancient Mesopotamian clay tablets recording interest-bearing loans, there is little consensus among scholars as to when corporate stock was first traded. Some see the key event as the Dutch East India Companys founding in 1602, economist Ulrike Malmendier of the University of California at Berkeley argues that a share market existed as far back as ancient Rome. One such service was the feeding of geese on the Capitoline Hill as a reward to the birds after their honking warned of a Gallic invasion in 390 B. C. Participants in such organizations had partes or shares, a concept mentioned various times by the statesman, in one speech, Cicero mentions shares that had a very high price at the time. Such evidence, in Malmendiers view, suggests the instruments were tradable, the societas declined into obscurity in the time of the emperors, as most of their services were taken over by direct agents of the state. Tradable bonds as a used type of security were a more recent innovation, spearheaded by the Italian city-states of the late medieval. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fully fledged capital market, the Dutch East India Company became the first company to offer shares of stock. Control of the company was held tightly by its directors, with shareholders not having much influence on management or even access to the companys accounting statements. However, shareholders were rewarded well for their investment, the company paid an average dividend of over 16 percent per year from 1602 to 1650. Financial innovation in Amsterdam took many forms, by the 1620s, the company was expanding its securities issuance with the first use of corporate bonds
2.
Kebayoran Baru, South Jakarta
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Kebayoran Baru is a subdistrict of South Jakarta, Jakarta, Indonesia. Kebayoran Baru was the last residential area to be developed by the Dutch colonial administration, many important governmental institutions are located in Kebayoran Baru, such as the Indonesia Stock Exchange building, the City Hall of South Jakarta, and the ASEAN Secretariat building. Kebayoran Baru consists of the word Kebayoran and Baru, several stockpiles of timber were built there in earlier time. Bayur wood is known for its strength and resistance to termite attack, development of Kebayoran Baru was a relatively quick one. Immediately thereafter the government began to purchase the land, and by 17 January 1949 the whole area had been purchased, soesilo completed the first draft of the town plan and a month later construction work started. Soesilo was a student of Thomas Karsten, a Dutch engineer who gave major contributions to architecture, soesilo designed both Kebayoran Baru and Pejompongan in 1948, both are considered to be the first urban center to be designed by an Indonesian. The first area to be designed is now located around Kebayoran station, on the east side of Grogol River, the construction was done by a Dutch construction company Centrale Stichting Wederopbouw, whose office was established near the current Attorney General building on June 1,1948. The construction of Kebayoran Baru was started on March 8,1949, the office building of CSW was located near the Judicial Palace building. At its completion, Kebayoran Baru was still a city of Jakarta located outside the city boundary. The Thamrin and Sudirman Road were constructed since 1949 to connect Kebayoran Baru with Central Jakarta and it would only be opened in 1953. Access from Central Jakarta to Kebayoran Baru before the completion of the Thamrin and Sudirman Roads were via Jalan Palmerah Utara, Kebayoran Baru is designed following the principle of a garden city. Kebayoran Baru was divided into blocks based on its land use and the size of the building, Blok A, Blok O. Blok B is the bounded by Jalan Melawai, Jalan Gandaria Tengah III. The area is designed as an area west of Jalan Panglima Polim Raya. The old cemetery Kuburan Wakaf Sebrang is located within Blok B, Blok B is part of Kramat Pela Administrative Village. Blok C is the bounded by Jalan Kyai Maja, Jalan Barito II, Jalan Melawai. The area is designed as an area west of Jalan Panglima Polim Raya. The office complex of the Attorney General is located within Blok C, Blok C is part of Kramat Pela Administrative Village
3.
Indonesian Rupiah
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The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO4217 currency code for the Indonesian rupiah is IDR, the name rupiah is derived from the Hindustani word rupiya, ultimately from Sanskrit rupya. Informally, Indonesians also use the word perak in referring to rupiah, the rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete. The Riau islands and the Indonesian half of New Guinea had their own variants of the rupiah in the past, the current rupiah consists of coins from 100 rupiah up to 1000 rupiah and banknotes of 1000 rupiah up to 100,000 rupiah. With US$1 worth 13,300 rupiah, the largest Indonesian banknote is therefore worth approximately US$7.52, there are presently two series of coins in circulation, aluminium, bronze and nickel coins dated between 1991 and 2010. These come in denominations of 50,100,200,500, the older series of coins has been gradually disappearing. Currently circulating Indonesian banknotes date from 2000,2001,2004,2005,2009,2010, the 1998–1999 notes have not been legal tender since 31 January 2008. Earlier notes are no longer legal tender, due to the lack of security features and association with the Suharto regime. The government initially announced that this would change, with a 2, 000-rupiah note to replace the 1, 000-rupiah, following the issuance of Presidential Decree No. However, the material is abaca fibre, which is naturally plentiful in Indonesia and is believed to increase the durability of the banknotes. The banknotes are heat-processed to create a type of pulp. The minimum security features visible to the eye are watermarks, electrotypes. Extra features may be included, such as holograms, Irisafe, iridescent stripes, clear windows, metameric windows, watermark and electrotype are made by controlling the gap of density of the fibres which create certain images for the banknotes. This is done to raise the quality of the notes. Security threads are inserted into the note so that horizontal and vertical lines are shown from top to bottom, the threads can be varied in the materials, size, colour and design. Intaglio printing is used for the numbers in the banknote, to help blind people recognise genuine notes. The rupiah has been subject to high inflation for most of its existence, various attempts have been made to maintain the value of the currency, but all were abandoned. In the period from October 1946 to March 1950 Indonesian currency had no international recognition and its value was determined on the black market
4.
Market capitalization
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Market capitalization is used by the investment community in ranking the size of companies, as opposed to sales or total asset figures. It is also used in ranking the size of stock exchanges. In performing such rankings, the market capitalizations are calculated at some significant date, the total capitalization of stock markets or economic regions may be compared with other economic indicators. In 2014 and 2015, global market capitalization was US$68 trillion and US$67 trillion, respectively. Market cap is given by the formula M C = N × P, where MC is the capitalization, N is the number of shares outstanding. For example, if company has 4 million shares outstanding. If the closing price per share rises to $21, the cap becomes $84 million. If it drops to $19 per share, the cap falls to $76 million. This is in contrast to mercantile pricing where purchase price, average price, traditionally, companies were divided into large-cap, mid-cap, and small-cap. The terms mega-cap and micro-cap have also come into common use. Different numbers are used by different indexes, there is no definition of, or full consensus agreement about. The cutoffs may be defined as rather than in nominal dollars. Market cap reflects only the equity value of a company and it is important to note that a firms choice of capital structure has a significant impact on how the total value of a company is allocated between equity and debt. A more comprehensive measure is enterprise value, which gives effect to outstanding debt, preferred stock, for insurance firms, a value called the embedded value has been used
5.
Indonesian language
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Indonesian is the official language of Indonesia. It is a register of Malay, an Austronesian language that has been used as a lingua franca in the multilingual Indonesian archipelago for centuries. Indonesia is the fourth most populous nation in the world, of its large population, the majority speak Indonesian, making it one of the most widely spoken languages in the world. However, most formal education, and nearly all national mass media, governance, administration, judiciary, the Indonesian name for the language is Bahasa Indonesia or sometimes simplified as Bahasa. This term is occasionally found in English and other languages. Indonesian is a register of Riau Malay, which despite its common name is not the Malay dialect native to Riau. Originally spoken in Northeast Sumatra, Malay has been used as a lingua franca in the Indonesian archipelago for half a millennium and it might be attributed to its ancestor, the Old Malay language. The Kedukan Bukit Inscription is the oldest surviving specimen of Old Malay, trade contacts carried on by various ethnic peoples at the time were the main vehicle for spreading the Old Malay language, which was the main communications medium among the traders. Ultimately, the Old Malay language became a lingua franca and was spoken widely by most people in the archipelago, Indonesian is essentially the same language as the official Malaysian, Singaporean and Brunei standards of Malay. However, it does differ from Malaysian in several respects, with differences in pronunciation and these differences are due mainly to the Dutch and Javanese influences on Indonesian. Indonesian was also influenced by the Melayu pasar, which was the lingua franca of the archipelago in colonial times, and thus indirectly by other spoken languages of the islands. Malaysian Malay claims to be closer to the classical Malay of earlier centuries, even though modern Malaysian has been influenced, in lexicon as well as in syntax. The question of whether High Malay or Low Malay was the parent of the Indonesian language is still in debate. Some linguists have argued that it was the more common Low Malay that formed the base of the Indonesian language, however, the language had never been dominant among the population of the Indonesian archipelago as it was limited to mercantile activity. The VOC adopted the Malay language as the language of their trading outpost in the east. Following the bankruptcy of the VOC the Dutch crown took control of the colony in 1799 and it was then that education in. Even then, Dutch administrators were reluctant to promote the use of Dutch compared to other colonial regimes. Dutch thus remained the language of a elite, in 1940
6.
Jakarta
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Jakarta /dʒəˈkɑːrtə/, officially the Special Capital Region of Jakarta, is the capital and most populous city of the Republic of Indonesia. Located on the northwest coast of the worlds most populous island of Java, Jakarta is the economic, cultural and political centre. The official metropolitan area, known as Jabodetabek, is the second largest in the world, established in the fourth century, the city became an important trading port for the Kingdom of Sunda. It was the de facto capital of the Dutch East Indies, today, the city has continued as the capital of Indonesia since the countrys independence was declared in 1945. Jakarta is listed as a city in the 2012 Globalization and World Cities Study Group. Based on the global metro monitor by the Brookings Institution, in 2014, Jakarta has grown more rapidly than Kuala Lumpur, Beijing, and Bangkok. Jakarta has been home to multiple settlements along with their names, Sunda Kelapa, Jayakarta, Batavia, Djakarta. Its current name derives from the word Jayakarta, the origins of this word can be traced to the Old Javanese and ultimately to the Sanskrit language. Jayakarta translates as victorious deed, complete act, or complete victory, Jakarta is nicknamed the Big Durian, the thorny strongly-odored fruit native to the region, as the city is seen as the Indonesian equivalent of the US city of New York. In the colonial era, the city was known as Koningin van het Oosten, initially in the 17th century for the urban beauty of downtown Batavias canals, mansions. After expanding to the south in the 19th century, this came to be more associated with the suburbs, with their wide lanes, many green spaces. The area in and around modern Jakarta was part of the fourth century Sundanese kingdom of Tarumanagara, following the decline of Tarumanagara, its territories, including the Jakarta area, became part of the Hindu Kingdom of Sunda. From 7th to early 13th century port of Sunda was within the sphere of influence of the Srivijaya maritime empire. According to the Chinese source, Chu-fan-chi, written circa 1225, Chou Ju-kua reported in the early 13th century Srivijaya still ruled Sumatra, the source reports the port of Sunda as strategic and thriving, pepper from Sunda being among the best in quality. The people worked in agriculture and their houses were built on wooden piles, the harbour area became known as Sunda Kelapa and by the fourteenth century, it was a major trading port for Sunda kingdom. The first European fleet, four Portuguese ships from Malacca, arrived in 1513 when the Portuguese were looking for a route for spices, in 1527, Fatahillah, a Javanese general from Demak attacked and conquered Sunda Kelapa, driving out the Portuguese. Sunda Kelapa was renamed Jayakarta, and became a fiefdom of the Sultanate of Banten which became a major Southeast Asia trading centre, through the relationship with Prince Jayawikarta from the Sultanate of Banten, Dutch ships arrived in Jayakarta in 1596. In 1602, the English East India Companys first voyage, commanded by Sir James Lancaster, arrived in Aceh and this site became the centre of English trade in Indonesia until 1682
7.
Indonesia
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Indonesia, officially the Republic of Indonesia, is a unitary sovereign state and transcontinental country located mainly in Southeast Asia with some territories in Oceania. Situated between the Indian and Pacific oceans, it is the worlds largest island country, with more than seventeen thousand islands. At 1,904,569 square kilometres, Indonesia is the worlds 14th-largest country in terms of area and worlds 7th-largest country in terms of combined sea. It has an population of over 260 million people and is the worlds fourth most populous country. The worlds most populous island, Java, contains more than half of the countrys population, Indonesias republican form of government includes an elected legislature and president. Indonesia has 34 provinces, of which five have Special Administrative status and its capital and countrys most populous city is Jakarta, which is also the most populous city in Southeast Asia and the second in Asia. The country shares land borders with Papua New Guinea, East Timor, other neighbouring countries include Singapore, Vietnam, the Philippines, Australia, Palau, and the Indian territory of the Andaman and Nicobar Islands. Despite its large population and densely populated regions, Indonesia has vast areas of wilderness that support the second highest level of biodiversity. The country has abundant natural resources like oil and natural gas, tin, copper, agriculture mainly produces rice, palm oil, tea, coffee, cacao, medicinal plants, spices and rubber. Indonesias major trading partners are Japan, United States, China, the Indonesian archipelago has been an important region for trade since at least the 7th century, when Srivijaya and then later Majapahit traded with China and India. Local rulers gradually absorbed foreign cultural, religious and political models from the early centuries CE, Indonesian history has been influenced by foreign powers drawn to its natural resources. Indonesia consists of hundreds of native ethnic and linguistic groups. The largest – and politically dominant – ethnic group are the Javanese, a shared identity has developed, defined by a national language, ethnic diversity, religious pluralism within a Muslim-majority population, and a history of colonialism and rebellion against it. Indonesias national motto, Bhinneka Tunggal Ika, articulates the diversity that shapes the country, Indonesias economy is the worlds 16th largest by nominal GDP and the 8th largest by GDP at PPP, the largest in Southeast Asia, and is considered an emerging market and newly industrialised country. Indonesia has been a member of the United Nations since 1950, Indonesia is a member of the G20 major economies and World Trade Organization. The name Indonesia derives from the Greek name of the Indós, the name dates to the 18th century, far predating the formation of independent Indonesia. In 1850, George Windsor Earl, an English ethnologist, proposed the terms Indunesians—and, his preference, in the same publication, one of his students, James Richardson Logan, used Indonesia as a synonym for Indian Archipelago. However, Dutch academics writing in East Indies publications were reluctant to use Indonesia, they preferred Malay Archipelago, the Netherlands East Indies, popularly Indië, the East, and Insulinde
8.
Jakarta Stock Exchange
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Jakarta Stock Exchange or in Indonesian Bursa Efek Jakarta was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesian Stock Exchange. Originally opened in 1912 under the Dutch colonial government, it was re-opened in 1977 after several closures during World War I, after being reopened in 1977, the exchange was under the management of the newly created Capital Market Supervisory Agency, which answered to the Ministry of Finance. Trading activity and market capitalization grew alongside the development of Indonesias financial markets, on July 13,1992, the exchange was privatized under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market Supervisory Agency, on March 22,1995 JSX launched the Jakarta Automated Trading System. In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged and named Indonesian Stock Exchange by Indonesian Minister of Finance, two of the primary stock market indices used to measure and report value changes in representative stock groupings are the JSX Composite and the Jakarta Islamic Index. The JII was established in 2002 to act as a benchmark in measuring market activities based on Sharia, currently, there are approximately 30 corporate stocks listed on the JII. The FTSE/ASEAN Indices were launched by the five ASEAN exchanges and global index provider FTSE on September 21,2005, the indices, covering the five ASEAN markets, are designed using international standards, free float adjusted, and based on the Industry Classification Benchmark. The indices comprise FTSE/ASEAN Benchmark Index and FTSE/ASEAN40 tradable index, the FTSE/ASEAN40 index is calculated on a real-time basis from 9,00 a. m. and the closing index is calculated at 6,00 p. m. The FTSE/ASEAN benchmark index is calculated on end-of-day basis, both Jakarta Stock Exchange and the Surabaya Stock Exchange merged to form a new entity Indonesia Stock Exchange. 09,25,01 WIB to 09,29,59 WIB JATS processes the Pre-opening Price forming and transactions allocation
9.
Surabaya Stock Exchange
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Surabaya Stock Exchange was a stock exchange that officially opened on June 16,1989, based on the Minister of Finance Decree of Indonesia No. It was established in order to support the Indonesian government in capital markets, on June 16,1989, SSX started the operation. On July 22,1995, the SSX merged with the Indonesian Parallel Stock Exchange, on October 30,2007, SSX was officially merged to Jakarta Stock Exchange and becoming Indonesia Stock Exchange as a single exchange operating in Indonesia, besides Jakarta Futures Exchange. SSX trades various products, including, Equities Bonds Derivatives products Indonesia Stock Exchange Jakarta Stock Exchange Surabaya Stock Exchange Website
10.
Netherlands
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The Netherlands is the main constituent country of the Kingdom of the Netherlands. It is a densely populated country located in Western Europe with three territories in the Caribbean. The European part of the Netherlands borders Germany to the east, Belgium to the south, and the North Sea to the northwest, sharing borders with Belgium, the United Kingdom. The three largest cities in the Netherlands are Amsterdam, Rotterdam and The Hague, Amsterdam is the countrys capital, while The Hague holds the Dutch seat of parliament and government. The port of Rotterdam is the worlds largest port outside East-Asia, the name Holland is used informally to refer to the whole of the country of the Netherlands. Netherlands literally means lower countries, influenced by its low land and flat geography, most of the areas below sea level are artificial. Since the late 16th century, large areas have been reclaimed from the sea and lakes, with a population density of 412 people per km2 –507 if water is excluded – the Netherlands is classified as a very densely populated country. Only Bangladesh, South Korea, and Taiwan have both a population and higher population density. Nevertheless, the Netherlands is the worlds second-largest exporter of food and agricultural products and this is partly due to the fertility of the soil and the mild climate. In 2001, it became the worlds first country to legalise same-sex marriage, the Netherlands is a founding member of the EU, Eurozone, G-10, NATO, OECD and WTO, as well as being a part of the Schengen Area and the trilateral Benelux Union. The first four are situated in The Hague, as is the EUs criminal intelligence agency Europol and this has led to the city being dubbed the worlds legal capital. The country also ranks second highest in the worlds 2016 Press Freedom Index, the Netherlands has a market-based mixed economy, ranking 17th of 177 countries according to the Index of Economic Freedom. It had the thirteenth-highest per capita income in the world in 2013 according to the International Monetary Fund, in 2013, the United Nations World Happiness Report ranked the Netherlands as the seventh-happiest country in the world, reflecting its high quality of life. The Netherlands also ranks joint second highest in the Inequality-adjusted Human Development Index, the region called Low Countries and the country of the Netherlands have the same toponymy. Place names with Neder, Nieder, Nether and Nedre and Bas or Inferior are in use in all over Europe. They are sometimes used in a relation to a higher ground that consecutively is indicated as Upper, Boven, Oben. In the case of the Low Countries / the Netherlands the geographical location of the region has been more or less downstream. The geographical location of the region, however, changed over time tremendously
11.
Dutch East Indies
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The Dutch East Indies was a Dutch colony. It was formed from the colonies of the Dutch East India Company. During the 19th century, Dutch possessions and hegemony were expanded and this colony was one of the most valuable European colonies under the Dutch Empires rule, and contributed to Dutch global prominence in spice and cash crop trade in the 19th to early 20th century. The colonial social order was based on racial and social structures with a Dutch elite living separate from. The term Indonesia came into use for the location after 1880. In the early 20th century, local intellectuals began developing the concept of Indonesia as a nation state, Japans World War II occupation dismantled much of the Dutch colonial state and economy. Following the Japanese surrender in August 1945, Indonesian nationalists declared independence which they fought to secure during the subsequent Indonesian National Revolution, the word Indies comes from Latin, Indus. The original name Dutch Indies was translated by the English as the Dutch East Indies, the name Dutch Indies is recorded in the Dutch East India Companys documents of the early 1620s. Scholars writing in English use the terms Indië, Indies, the Dutch East Indies, the Netherlands Indies, centuries before Europeans arrived, the Indonesian archipelago supported various states, including commercially oriented coastal trading states and inland agrarian states. The first Europeans to arrive were the Portuguese in the late 15th century, following disruption of Dutch access to spices in Europe, the first Dutch expedition set sail for the East Indies in 1595 to access spices directly from Asia. When it made a 400% profit on its return, other Dutch expeditions soon followed, recognising the potential of the East Indies trade, the Dutch government amalgamated the competing companies into the United East India Company. The VOC was granted a charter to wage war, build fortresses, a capital was established in Batavia, which became the centre of the VOCs Asian trading network. Smuggling, the expense of war, corruption, and mismanagement led to bankruptcy by the end of the 18th century. The company was dissolved in 1800 and its colonial possessions in the Indonesian archipelago were nationalised under the Dutch Republic as the Dutch East Indies. From the arrival of the first Dutch ships in the late 16th century, to the declaration of independence in 1945, although Java was dominated by the Dutch, many areas remained independent throughout much of this time, including Aceh, Bali, Lombok and Borneo. Piracy remained a problem until the mid-19th century, finally in the early 20th century, imperial dominance was extended across what was to become the territory of modern-day Indonesia. In 1811, British forces occupied several Dutch East Indies ports including Java, Dutch control was restored in 1816. Under the 1824 Anglo-Dutch Treaty, the Dutch secured British settlements such as Bengkulu in Sumatra, in exchange for ceding control of their possessions in the Malay Peninsula, the resulting borders between British and Dutch possessions remain between Malaysia and Indonesia
12.
World War I
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World War I, also known as the First World War, the Great War, or the War to End All Wars, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918. More than 70 million military personnel, including 60 million Europeans, were mobilised in one of the largest wars in history and it was one of the deadliest conflicts in history, and paved the way for major political changes, including revolutions in many of the nations involved. The war drew in all the worlds great powers, assembled in two opposing alliances, the Allies versus the Central Powers of Germany and Austria-Hungary. These alliances were reorganised and expanded as more nations entered the war, Italy, Japan, the trigger for the war was the assassination of Archduke Franz Ferdinand of Austria, heir to the throne of Austria-Hungary, by Yugoslav nationalist Gavrilo Princip in Sarajevo on 28 June 1914. This set off a crisis when Austria-Hungary delivered an ultimatum to the Kingdom of Serbia. Within weeks, the powers were at war and the conflict soon spread around the world. On 25 July Russia began mobilisation and on 28 July, the Austro-Hungarians declared war on Serbia, Germany presented an ultimatum to Russia to demobilise, and when this was refused, declared war on Russia on 1 August. Germany then invaded neutral Belgium and Luxembourg before moving towards France, after the German march on Paris was halted, what became known as the Western Front settled into a battle of attrition, with a trench line that changed little until 1917. On the Eastern Front, the Russian army was successful against the Austro-Hungarians, in November 1914, the Ottoman Empire joined the Central Powers, opening fronts in the Caucasus, Mesopotamia and the Sinai. In 1915, Italy joined the Allies and Bulgaria joined the Central Powers, Romania joined the Allies in 1916, after a stunning German offensive along the Western Front in the spring of 1918, the Allies rallied and drove back the Germans in a series of successful offensives. By the end of the war or soon after, the German Empire, Russian Empire, Austro-Hungarian Empire, national borders were redrawn, with several independent nations restored or created, and Germanys colonies were parceled out among the victors. During the Paris Peace Conference of 1919, the Big Four imposed their terms in a series of treaties, the League of Nations was formed with the aim of preventing any repetition of such a conflict. This effort failed, and economic depression, renewed nationalism, weakened successor states, and feelings of humiliation eventually contributed to World War II. From the time of its start until the approach of World War II, at the time, it was also sometimes called the war to end war or the war to end all wars due to its then-unparalleled scale and devastation. In Canada, Macleans magazine in October 1914 wrote, Some wars name themselves, during the interwar period, the war was most often called the World War and the Great War in English-speaking countries. Will become the first world war in the sense of the word. These began in 1815, with the Holy Alliance between Prussia, Russia, and Austria, when Germany was united in 1871, Prussia became part of the new German nation. Soon after, in October 1873, German Chancellor Otto von Bismarck negotiated the League of the Three Emperors between the monarchs of Austria-Hungary, Russia and Germany
13.
World War II
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World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945, although related conflicts began earlier. It involved the vast majority of the worlds countries—including all of the great powers—eventually forming two opposing alliances, the Allies and the Axis. It was the most widespread war in history, and directly involved more than 100 million people from over 30 countries. Marked by mass deaths of civilians, including the Holocaust and the bombing of industrial and population centres. These made World War II the deadliest conflict in human history, from late 1939 to early 1941, in a series of campaigns and treaties, Germany conquered or controlled much of continental Europe, and formed the Axis alliance with Italy and Japan. Under the Molotov–Ribbentrop Pact of August 1939, Germany and the Soviet Union partitioned and annexed territories of their European neighbours, Poland, Finland, Romania and the Baltic states. In December 1941, Japan attacked the United States and European colonies in the Pacific Ocean, and quickly conquered much of the Western Pacific. The Axis advance halted in 1942 when Japan lost the critical Battle of Midway, near Hawaii, in 1944, the Western Allies invaded German-occupied France, while the Soviet Union regained all of its territorial losses and invaded Germany and its allies. During 1944 and 1945 the Japanese suffered major reverses in mainland Asia in South Central China and Burma, while the Allies crippled the Japanese Navy, thus ended the war in Asia, cementing the total victory of the Allies. World War II altered the political alignment and social structure of the world, the United Nations was established to foster international co-operation and prevent future conflicts. The victorious great powers—the United States, the Soviet Union, China, the United Kingdom, the Soviet Union and the United States emerged as rival superpowers, setting the stage for the Cold War, which lasted for the next 46 years. Meanwhile, the influence of European great powers waned, while the decolonisation of Asia, most countries whose industries had been damaged moved towards economic recovery. Political integration, especially in Europe, emerged as an effort to end pre-war enmities, the start of the war in Europe is generally held to be 1 September 1939, beginning with the German invasion of Poland, Britain and France declared war on Germany two days later. The dates for the beginning of war in the Pacific include the start of the Second Sino-Japanese War on 7 July 1937, or even the Japanese invasion of Manchuria on 19 September 1931. Others follow the British historian A. J. P. Taylor, who held that the Sino-Japanese War and war in Europe and its colonies occurred simultaneously and this article uses the conventional dating. Other starting dates sometimes used for World War II include the Italian invasion of Abyssinia on 3 October 1935. The British historian Antony Beevor views the beginning of World War II as the Battles of Khalkhin Gol fought between Japan and the forces of Mongolia and the Soviet Union from May to September 1939, the exact date of the wars end is also not universally agreed upon. It was generally accepted at the time that the war ended with the armistice of 14 August 1945, rather than the formal surrender of Japan
14.
Market capitalisation
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Market capitalization is used by the investment community in ranking the size of companies, as opposed to sales or total asset figures. It is also used in ranking the size of stock exchanges. In performing such rankings, the market capitalizations are calculated at some significant date, the total capitalization of stock markets or economic regions may be compared with other economic indicators. In 2014 and 2015, global market capitalization was US$68 trillion and US$67 trillion, respectively. Market cap is given by the formula M C = N × P, where MC is the capitalization, N is the number of shares outstanding. For example, if company has 4 million shares outstanding. If the closing price per share rises to $21, the cap becomes $84 million. If it drops to $19 per share, the cap falls to $76 million. This is in contrast to mercantile pricing where purchase price, average price, traditionally, companies were divided into large-cap, mid-cap, and small-cap. The terms mega-cap and micro-cap have also come into common use. Different numbers are used by different indexes, there is no definition of, or full consensus agreement about. The cutoffs may be defined as rather than in nominal dollars. Market cap reflects only the equity value of a company and it is important to note that a firms choice of capital structure has a significant impact on how the total value of a company is allocated between equity and debt. A more comprehensive measure is enterprise value, which gives effect to outstanding debt, preferred stock, for insurance firms, a value called the embedded value has been used
15.
Market trend
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A market trend is a perceived tendency of financial markets to move in a particular direction over time. These trends are classified as secular for long time frames, primary for medium time frames, a trend can only be determined in hindsight, since at any time prices in the future are not known. The terms bull market and bear market describe upward and downward market trends, respectively, the names perhaps correspond to the fact that a bull attacks by lifting its horns upward, while a bear strikes with its claws in a downward motion. A secular market trend is a trend that lasts 5 to 25 years. A secular bear market consists of bull markets and larger bear markets. In a secular bull market the prevailing trend is bullish or upward-moving, in a secular bear market, the prevailing trend is bearish or downward-moving. An example of a bear market occurred in gold between January 1980 to June 1999, culminating with the Brown Bottom. During this period the nominal gold price fell from a high of $850/oz to a low of $253/oz, a primary trend has broad support throughout the entire market and lasts for a year or more. A bull market is a period of rising prices. The start of a market is marked by widespread pessimism. This point is when the crowd is the most bearish, the feeling of despondency changes to hope, optimism, and eventually euphoria, as the bull runs its course. This often leads the cycle, for example in a full recession. Indias Bombay Stock Exchange Index, BSE SENSEX, had a bull market trend for about five years from April 2003 to January 2008 as it increased from 2,900 points to 21,000 points. More than 6 fold rise in 5 years, notable bull markets marked the 1925-1929, 1953–1957 and the 1993-1997 periods when the U. S. A bear market is a decline in the stock market over a period of time. It is a transition from high investor optimism to widespread investor fear, according to The Vanguard Group, While there’s no agreed-upon definition of a bear market, one generally accepted measure is a price decline of 20% or more over at least a two-month period. A bear market followed the Wall Street Crash of 1929 and erased 89% of the Dow Jones Industrial Averages market capitalization by July 1932, after regaining nearly 50% of its losses, a longer bear market from 1937 to 1942 occurred in which the market was again cut in half. Another long-term bear market occurred from about 1973 to 1982, encompassing the 1970s energy crisis, yet another bear market occurred between March 2000 and October 2002
16.
Pacific Place Jakarta
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The Pacific Place Jakarta is a multipurpose building located in the Sudirman Central Business District, South Jakarta, Indonesia. The building is divided three different sections, the six-floor Pacific Place mall, the One Pacific Place office center. The mall opened in November 2007, and in January 2017 was recognized by Forbes as one of the top shopping malls in Jakarta. The basement level includes Kem Chicks supermarket, restaurants, ATMs, and a bridge to the Ritz Carlton Hotel towers, and the Jakarta Stock Exchange. The Ritz Carlton Pacific Place is the hotel in the building and has 62 rooms. The One Pacific Place building is the only office block of the building. Galeries Lafayette, the luxurious French department had opened a branch in the mall as of 2013, in 2015, Prada and Miu Miu have both opened their respective stores in this mall. List of shopping malls in Indonesia Retrieved on 2009-07-30 Pacific Place Jakarta Official Site
17.
Time in Indonesia
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The Indonesian archipelago geographically stretches across four time zones from UTC+6 in Aceh to UTC+9 in Western Papua. The border between central and eastern time zones runs north from the tip of Timor to the eastern tip of Sulawesi. Daylight saving time is not currently observed in almost all of Indonesia due to its tropical location, the only unofficial exception of this is Muara Teweh and Maurainu, which unofficially uses Western Indonesian Daylight Time. All provinces in the island of Java including major cities such as, Bandung, Surabaya, Jakarta, Semarang, two provinces in Kalimantan island, West Kalimantan and Central Kalimantan. Including major cities such as, Pontianak, Palangkaraya, and Sampit, Muara Teweh and Maurainu unofficially uses Western Indonesian Daylight Time, which has the same time as Central Indonesian Time. All provinces in the Lesser Sunda Islands including major cities such as, Denpasar, Mataram, three provinces in Kalimantan island, North Kalimantan, East Kalimantan and South Kalimantan, including major cities such as, Balikpapan, Banjarmasin, Samarinda, and Tarakan. IANA time zone identifier is Asia/Makassar Indonesia Eastern Standard Time is observed in, Maluku Islands including major cities such as, Ambon City, Ternate City. All provinces in West Papua including major cities such as, Jayapura, Biak, all provinces in Papua including all major islands in the province. IANA time zone identifier is Asia/Jayapura It observed since January 1,1988. Central and Southern Sumatra Time, was observed in Bengkulu, Palembang and Lampung, Java, Bali, and Borneo Time, was observed in Java, Bali, Madura and Kalimantan. Celebes Time, was observed in Sulawesi and Lesser Sunda Islands, moluccan Time, was observed in Ternate, Namlea, Ambon, Sofifi and Banda. West Irian Time was observed in West Irian and it observed during November 1,1932 to August 31,1944. Dutch New Guinea Time, was observed in West Irian during named Dutch New Guinea because Netherlands still hold West Irian. It observed from September 1,1944 to December 31,1963, Daylight saving time was observed in Jakarta from May 1,1948 to May 1,1950. Its UTC offset during daylight saving time is UTC+08,00. tab, asia/Jakarta Asia/Pontianak Asia/Makassar Asia/Jayapura ASEAN Common Time Time in Malaysia Time in the Philippines Time in Singapore UTC+8 Indonesian Standard Time
18.
Singapore
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Singapore, officially the Republic of Singapore, sometimes referred to as the Lion City or the Little Red Dot, is a sovereign city-state in Southeast Asia. It lies one degree north of the equator, at the tip of peninsular Malaysia. Singapores territory consists of one island along with 62 other islets. Since independence, extensive land reclamation has increased its size by 23%. During the Second World War, Singapore was occupied by Japan, after early years of turbulence, and despite lacking natural resources and a hinterland, the nation developed rapidly as an Asian Tiger economy, based on external trade and its workforce. Singapore is a global commerce, finance and transport hub, the country has also been identified as a tax haven. Singapore ranks 5th internationally and first in Asia on the UN Human Development Index and it is ranked highly in education, healthcare, life expectancy, quality of life, personal safety, and housing, but does not fare well on the Democracy index. Although income inequality is high, 90% of homes are owner-occupied, 38% of Singapores 5.6 million residents are permanent residents and other foreign nationals. There are four languages on the island, Malay, Mandarin, Tamil. English is its language, most Singaporeans are bilingual. Singapore is a multiparty parliamentary republic, with a Westminster system of unicameral parliamentary government. The Peoples Action Party has won every election since self-government in 1959, however, it is unlikely that lions ever lived on the island, Sang Nila Utama, the Srivijayan prince said to have founded and named the island Singapura, perhaps saw a Malayan tiger. There are however other suggestions for the origin of the name, the central island has also been called Pulau Ujong as far back as the third century CE, literally island at the end in Malay. In 1299, according to the Malay Annals, the Kingdom of Singapura was founded on the island by Sang Nila Utama and these Indianized Kingdoms, a term coined by George Cœdès were characterized by surprising resilience, political integrity and administrative stability. In 1613, Portuguese raiders burned down the settlement, which by then was part of the Johor Sultanate. The wider maritime region and much trade was under Dutch control for the following period, in 1824 the entire island, as well as the Temenggong, became a British possession after a further treaty with the Sultan. In 1826, Singapore became part of the Straits Settlements, under the jurisdiction of British India, prior to Raffles arrival, there were only about a thousand people living on the island, mostly indigenous Malays along with a handful of Chinese. By 1860 the population had swelled to over 80,000, many of these early immigrants came to work on the pepper and gambier plantations
19.
Hong Kong
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Hong Kong, officially the Hong Kong Special Administrative Region of the Peoples Republic of China, is an autonomous territory on the Pearl River Delta of East Asia. Macau lies across the delta to the west, and the Chinese province of Guangdong borders the territory to the north. With a total area of 1,106 square kilometres. Hong Kong was later occupied by Japan during World War II until British control resumed in 1945, under the principle of one country, two systems, Hong Kong maintains a separate political and economic system from China. Except in military defence and foreign affairs, Hong Kong maintains its independent executive, legislative, in addition, Hong Kong develops relations directly with foreign states and international organisations in a broad range of appropriate fields. Hong Kong is one of the worlds most significant financial centres, with the highest Financial Development Index score and consistently ranks as the worlds most competitive and freest economic entity. As the worlds 8th largest trading entity, its legal tender, Hong Kongs tertiary sector dominated economy is characterised by simple taxation with a competitive level of corporate tax and supported by its independent judiciary system. However, while Hong Kong has one of the highest per capita incomes in the world and it has a very high Human Development Index ranking and the worlds longest life expectancy. Over 90% of the population use of well-developed public transportation. Seasonal air pollution with origins from neighbouring areas of Mainland China. Hong Kong was officially recorded in the 1842 Treaty of Nanking to encompass the entirety of the island, before 1842, the name referred to a small inlet—now Aberdeen Harbour —between Aberdeen Island and the southern coast of Hong Kong Island. Aberdeen was a point of contact between British sailors and local fishermen. Detailed and accurate romanisation systems for Cantonese were available and in use at the time, fragrance may refer to the sweet taste of the harbours fresh water estuarine influx of the Pearl River or to the incense from factories lining the coast of northern Kowloon. The incense was stored near Aberdeen Harbour for export before Hong Kong developed Victoria Harbour, the name had often been written as the single word Hongkong until the government adopted the current form in 1926. Nevertheless, a number of century-old institutions still retain the form, such as the Hongkong Post, Hongkong Electric. As of 1997, its name is the Hong Kong Special Administrative Region of the Peoples Republic of China. This is the title as mentioned in the Hong Kong Basic Law. Hong Kong has carried many nicknames, the most famous among those is the Pearl of the Orient, which reflected the impressive nightscape of the citys light decorations on the skyscrapers along both sides of the Victoria Harbour
20.
Stock market indices
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A stock index or stock market index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks and it is a tool used by investors and financial managers to describe the market, and to compare the return on specific investments. An index is a construct, so it may not be invested in directly. But many mutual funds and exchange-traded funds attempt to track an index, Stock market indices may be classified in many ways. A world or global stock market index — such as the MSCI World or the S&P Global 100 — includes stocks from multiple regions, regions may be defined geographically or by levels of industrialization or income. A national index represents the performance of the market of a given nation—and by proxy. Other indices may be regional, such as the FTSE Developed Europe Index or the FTSE Developed Asia Pacific Index, indexes may be based on exchange, such as the NASDAQ-100 or NYSE US100, or groups of exchanges, such as the Euronext 100 or OMX Nordic 40. The concept may be extended well beyond an exchange, russell Investment Group added to the family of indices by launching the Russel Global Index. More specialized indices exist tracking the performance of specific sectors of the market, some indices, such as the S&P500, have multiple versions. These versions can differ based on how the components are weighted. The difference between the full capitalization, float-adjusted, and equal weight versions is in how index components are weighted, an index may also be classified according to the method used to determine its price. In contrast, an index such as the Hang Seng Index factors in the size of the company. Thus, a small shift in the price of a large company will heavily influence the value of the index. Traditionally, capitalization- or share-weighted indices all had a full weighting, recently, many of them have changed to a float-adjusted weighting which helps indexing. An equal-weighted index is one in all components are assigned the same value. For example, the Barrons 400 Index assigns a value of 0. 25% to each of the 400 stocks included in the index. A modified capitalization-weighted index is a hybrid between capitalization weighting and equal weighting, moreover, in 2005, Standard & Poors introduced the S&P Pure Growth Style Index and S&P Pure Value Style Index which was attribute-weighted. For these two indexes, a score is calculated for every stock, be it their growth score or the value score, one argument for capitalization weighting is that investors must, in aggregate, hold a capitalization-weighted portfolio anyway
21.
Sharia
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Sharia, Sharia law, or Islamic law is the religious law forming part of the Islamic tradition. It is derived from the precepts of Islam, particularly the Quran. In Arabic, the term refers to Gods divine law and is contrasted with fiqh. The manner of its application in modern times has been a subject of dispute between Muslim traditionalists and reformists, traditional theory of Islamic jurisprudence recognizes four sources of sharia, the Quran, sunnah, qiyas, and ijma. Traditional jurisprudence distinguishes two branches of law, ʿibādāt and muʿāmalāt, which together comprise a wide range of topics. Its rulings assign actions to one of five categories, mandatory, recommended, permitted, abhorred, thus, some areas of sharia overlap with the Western notion of law while others correspond more broadly to living life in accordance with God’s will. Historically, sharia was interpreted by independent jurists, ottoman rulers achieved additional control over the legal system by promulgating their own legal code and turning muftis into state employees. Non-Muslim communities had legal autonomy, except in cases of interconfessional disputes, in the modern era, sharia-based criminal laws were widely replaced by statutes inspired by European models. Judicial procedures and legal education in the Muslim world were brought in line with European practice. While the constitutions of most Muslim-majority states contain references to sharia, legislative bodies which codified these laws sought to modernize them without abandoning their foundations in traditional jurisprudence. The Islamic revival of the late 20th century brought along calls by Islamist movements for full implementation of sharia, including reinstatement of hudud corporal punishments, in some cases, this resulted in traditionalist legal reform, while other countries witnessed juridical reinterpretation of sharia advocated by progressive reformers. The role of sharia has become a contested topic around the world, attempts to impose it on non-Muslims have caused intercommunal violence in Nigeria and may have contributed to the breakup of Sudan. Some Muslim-minority countries in Asia, Africa and Europe recognize the use of sharia-based family laws for their Muslim populations, there are ongoing debates as to whether sharia is compatible with secular forms of government, human rights, freedom of thought, and womens rights. The word sharīʿah is used by Arabic-speaking peoples of the Middle East to designate a prophetic religion in its totality, for example, sharīʿat Mūsā means law or religion of Moses and sharīʿatu-nā can mean our religion in reference to any monotheistic faith. Within Islamic discourse, šarīʿah refers to regulations governing the lives of Muslims. For many Muslims, the word means simply justice, and they will consider any law that promotes justice, Muslims of different perspectives agree in their respect for the abstract notion of sharia, but they differ in how they understand the practical implications of the term. Classical sharia, the body of rules and principles elaborated by Islamic jurists during the first centuries of Islam, historical sharia, the body of rules and interpretations developed throughout Islamic history, ranging from personal beliefs to state legislation and varying across an ideological spectrum. Classical sharia has often served as a point of reference for these variants, Contemporary sharia, the full spectrum of rules and interpretations that are developed and practiced at present
22.
FTSE Group
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FTSE Group, formerly FTSE Group, is a British provider of stock market indices and associated data services, wholly owned by the London Stock Exchange and operating out of premises in Canary Wharf. It operates the well known UK FTSE100 Index and the Russell 2000 as well as a number of other indices, FTSE stands for Financial Times Stock Exchange. The FTSE Group was created in 1995 by Pearson and the London Stock Exchange Group, FTSE Japan, based in Tokyo, was launched in 2003. In 2010, the joint venture with Xinhua Finance was terminated, the series was renamed into FTSE China Index Series. In 2011, Pearson sold its stake to LSE, FTSE Group operates 250,000 indices calculated across 80 countries and in 2015 was the number three provider of indices worldwide by revenue. FTSE Group earns around 60 per cent of revenue from subscription fees and 40 per cent from licensing for index-based products. Clients include both active and passive fund managers, consultants, asset owners, sell-side firms and financial data vendors, fTSE’s products are used by market participants worldwide for investment analysis, performance measurement, asset allocation and hedging. FTSE also provides many exchanges around the world with their domestic indices, FTSE Group operates the well known FTSE100 Index and FTSE250 Index as well as over 200,000 other indices, including 600 real-time indices. There are seven main groups of indices, Global Equity, Regional and Partner, Fixed Income, Real Estate, Alternative Investment, Responsible Investment, fees from the use of index information and associated services generate revenues necessary to continue operations. FTSE has offices in London, New York City, Paris, Frankfurt, Madrid, Milan, San Francisco, Beijing, Sydney, Tokyo, Hong Kong and Toronto. FTSE350 Index FTSE All-Share Index FTSE SmallCap Index FTSE4Good Index FTSE AIM UK50 Index FTSE AIM100 Index FTSE AIM All-Share Index FTSE MIB FTSE MTIRS – interest rate swap index Official site
23.
ASEAN
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ASEAN covers a land area of 4.4 million square kilometres, 3% of the total land area of Earth. ASEAN territorial waters cover an area three times larger than its land counterpart. Member countries have a population of approximately 625 million people,8. 8% of the worlds population. In 2015, the organisations combined nominal GDP had grown to more than US$2.8 trillion, if ASEAN were a single entity, it would rank as the sixth largest economy in the world, behind the USA, China, Japan, India and Germany. ASEAN shares land borders with India, China, Bangladesh, East Timor, and Papua New Guinea, and maritime borders with India, China, Palau, both East Timor and Papua New Guinea are backed by certain ASEAN members for their membership in the organisation. As set out in the ASEAN Declaration, the aims and purposes of ASEAN are, To accelerate economic growth, social progress, to promote regional peace and stability. To promote collaboration and mutual assistance on matters of common interest, to provide assistance to each other in the form of training and research facilities. To collaborate for the better utilisation of agriculture and industry to raise the standards of the people. To maintain close, beneficial co-operation with existing international organisations with similar aims, ASEAN was preceded by an organization formed in 1961 called the Association of Southeast Asia, a group consisting of the Philippines, Malaysia, and Thailand. The creation of ASEAN was motivated by a fear of communism. ASEAN grew when Brunei Darussalam became its sixth member on 7 January 1984, ASEAN achieved greater cohesion in the mid-1970s following the changed balance of power in Southeast Asia after the end of the Vietnam War. The regions dynamic economic growth during the 1970s strengthened the organization, on 28 July 1995, Vietnam became ASEANs seventh member. Laos and Myanmar joined two years later on 23 July 1997, Cambodia was to have joined at the same time as Laos and Burma, but its entry was delayed due to the countrys internal political struggle. It later joined on 30 April 1999, following the stabilization of its government, however, the proposal failed because of heavy opposition from the US and Japan. Member states continued to work for integration, and ASEAN Plus Three was created in 1997. This law would act as the framework for the ASEAN Free Trade Area, AFTA is an agreement by member nations concerning local manufacturing in ASEAN countries. The AFTA agreement was signed on 28 January 1992 in Singapore, after the East Asian Financial Crisis of 1997, a revival of the Malaysian proposal, known as the Chiang Mai Initiative, was put forward in Chiang Mai, Thailand. It called for integration of the economies of ASEAN as well as the ASEAN Plus Three countries, China, Japan
24.
Singapore Exchange
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Singapore Exchange Limited is an investment holding company located in Singapore and provides different services related to securities and derivatives trading and others. SGX is a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation, SGX operates several different divisions, each responsible for handling specific businesses. SGX ETS, provides global trading access to SGX markets where 80 percent of the customers are from outside Singapore, SGX DC, subsidiary for clearing and settlement operations. SGX AsiaClear, offers clearing services for over-the-counter oil swaps and forward freight agreements, SGX Reach, an electronic trading platform. Central Depository Pte Ltd, subsidiary responsible for clearing, settlement. In order to be listed on the mainboard, a company has to some requirements set forth by SGX. The exchange launched SGX QUEST in August 2004, the system is used by the exchange for derivatives and securities trading. Local times, SGX was formed on 1 December 1999 as a holding company, in this way, all assets previously owned by these three companies were transferred to SGX. The shareholders previously holding shares in SES, Simex and SCCS received newly issued SGX shares, on 23 November 2000, SGX became the second exchange in Asia-Pacific to be listed via a public offer and a private placement. Listed on its own bourse, the SGX stock is a component of benchmark indices such as the MSCI Singapore Free Index, on 25 September 2006, the Joint Asian Derivatives Exchange, a joint venture between SGX and Chicago Board of Trade became operational. However, this joint venture was cancelled in November 2007, with CME Groups selling of its 50% stake in the joint venture to SGX, the contracts previously traded on JADE were transferred to SGXs QUEST trading platform. In August 2009, SGX formed a joint venture with Chi-X Global, at the beginning of October 2010, this joint venture received approval from the Monetary Authority of Singapore to operate a dark pool trading platform. In March 2007, SGX bought a 5% stake in Bombay Stock Exchange for 42.7 million dollars, on 15 June 2007, Tokyo Stock Exchange, Inc. announced that it had acquired a 4. 99% stake in SGX. Since then the value of the shares has declined and the Tokyo Stock Exchange, Inc. has made a decision to sell the shares it holds in SGX to its parent company, the Tokyo Stock Exchange Group, Inc. On 31 January 2008, SGX acquired a 20% stake in Philippine Dealing System Holdings Corp, at the beginning of 2008, SGX reached an agreement to buy at least 95% of Singapore Commodity Exchange. On 30 June 2008, SGX completed the acquisition of Singapore Commodity Exchange Ltd, on 18 April 2008, SGX opened a representative office in Beijing. On 8 June 2010, SGX announced it has opened an office in London and this is part of SGXs move to invest S$250 million into its Reach initiative. By implementing this initiative, SGX plans to create the worlds fastest trading engine, the new trading platform, SGX Reach, will be delivered to SGX by NASDAQ OMX, Voltaire and HP
25.
Bursa Malaysia
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Bursa Malaysia Berhad is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement, on 18 May 2015, the MYX joined the United Nations Sustainable Stock Exchanges Initiative as part the SSEs regional dialogue in Bangkok hosted by the Stock Exchange of Thailand. Bursa Malaysia was known as Kuala Lumpur Stock Exchange from its founding in 1930 when the Singapore Stockbrokers Association was set up as an organisation dealing in securities in Malaya. The first formal securities business organisation in Malaysia was the Singapore Stockbrokers Association and it was re-registered as the Malayan Stockbrokers Association in 1937. The Malayan Stock Exchange was established in 1960 and the trading of shares commenced. The board system had trading rooms in Singapore and Kuala Lumpur, in 1964, the Stock Exchange of Malaysia was established. With the secession of Singapore from Malaysia in 1965, the Stock Exchange of Malaysia became known as the Stock Exchange of Malaysia and Singapore. The Kuala Lumpur Stock Exchange which was incorporated on 14 December 1976 as a limited by guarantee. It consisted of a Main Board, a Second Board and MESDAQ with total market capitalisation of MYR700 billion, in June 2006, Bursa Malaysia and FTSE Group jointly introduced FTSE Bursa Malaysia Index. On 7 November 2006, the index passed the 1,000 mark hurdle and it was partly boosted by the strong overnight close in the Wall Street. On 10 March 2008, trading on the exchange was suspended for one due to composite index fall by more than 10 percent or 130 points to 1166.32 points. This was largely by combination of such as the United States subprime mortgage crisis. Dealers expected the move was an over-reaction to the election results, the index gained 2. 1% the next day on the morning session as investor reinvest in plantation stocks and blue chips. On 3 July 2008, trading on the exchange was suspended for the day when it suffered multiple hardware glitches, the glitches only affected the equities market, not the bonds and commodity market. The FCPO, the global benchmark for the crude palm oil market, is a deliverable contract which is traded electronically on Bursa Malaysias trading platform. Crude palm kernel futures and crude oil futures are primarily traded on Bursa Malaysia in Malaysian Ringgit. Their codenames are FPKO, FCPO and FUPO, respectively, under the Bursa Suq Al-Sila concept, the bank buys a commodity from a supplier such as a CPO producer at a principal amount, and sells it to a customer at a profit. The customer then sells back the commodity to the market for cash
26.
Stock Exchange of Thailand
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The Stock Exchange of Thailand is the national stock exchange of Thailand. As of 31 January 2015, the Stock Exchange of Thailand had 584 listed companies with a market capitalization of 15,030 billion baht or 460 billion USD. The indices of the exchange are the SET Index, SET50 Index. The indexs all-time high was 1,789 in January 1994, the modern Thai capital market developed in two phases. The privately owned Bangkok Stock Exchange operated from 1962 to the early 1970s, the Second National Economic and Social Development Plan established the Securities Exchange of Thailand to mobilize funds to support industrialization and economic development. This was the countrys first officially sanctioned, supervised, and regulated securities market, the Thai stock market began in July 1962 when a private group established an organized stock exchange as a limited partnership. The group later became a company and changed its name to the Bangkok Stock Exchange Co. Ltd. in 1963. Despite its well-intended foundation, the BSE was insufficiently active, annual turnover was only 160 million baht in 1968, and 114 million baht in 1969. Trading volumes continued to fall sharply thereafter, to 46 million baht in 1970 and 28 million baht in 1971, the turnover in debentures reached 87 million baht in 1972, but stocks continued to perform poorly, with turnover hitting an all-time low of only 26 million baht. The BSE finally ceased operations in the early 1970s and it is thought that the BSE failed because of a lack of official government support and a limited investor understanding of the equity market. Despite the failure of the BSE, the concept of an orderly, officially supported securities market in Thailand attracted considerable attention. The Second National Economic and Social Development Plan proposed, for the first time a plan for the establishment of such a market, with appropriate facilities and procedures for securities trading. In 1969, as recommended by the World Bank, the government acquired the services of Professor Sidney M. Robbins from Columbia University to study the development channels of the Thai capital market, Professor Robbins had previously served as chief economist at the United States Securities and Exchange Commission. A year later, in 1970, Professor Robbins produced a report entitled A Capital Market in Thailand. This report became the plan for the future development of the Thai capital market. The changes extended government control and regulation over the operations of finance and securities companies, following these amendments, in May 1974, long-awaited legislation establishing the Securities Exchange of Thailand was enacted. This was followed by revisions to the code at the end of the year. By 1975, the legislative framework was in place and on 30 April 1975
27.
Philippine Stock Exchange
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The Philippine Stock Exchange, Inc. is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange, including previous forms, the exchange has been in operation since 1927. The main index for PSE is the PSE Composite Index composed of thirty listed companies, the selection of companies in the PSEi is based on a specific set of criteria. There are also six additional sector-based indices, the PSE is overseen by a 15-member Board of Directors, chaired by José T. Pardo. On February 3,1936, the Securities and Exchange Commission announced that it had relinquished control of the Manila Stock Exchange, the Philippine Stock Exchange was formed on December 23,1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Both exchanges traded the same stocks of the same companies, on January 4,1993, the former Manila Stock Exchange started the computerization of its operations using the Stratus Trading System with a company called Equicom. On June 15, the former Makati Stock Exchange adopted the MakTrade trading system, both systems were linked on March 25,1994 to produce a One Price-One Market exchange. In October 2004, the Securities Clearing Corporation of the Philippines, the SCCP acts as the settlement coordinator and risk manager for broker transactions as well as administrator of the trade guaranty fund. The ODiSy provides a 24/7 online system access for the submission of all types of disclosures, on July 26,2010, the PSE launched its new trading system, PSEtrade, which replaced the MakTrade system. The system was acquired from the New York Stock Exchange, on June 22,2015, the PSE launch its new trading system, the PSEtrade XTS, which will replace the PSEtrade system acquired from the New York Stock Exchange. The new trading system will be acquired from the NASDAQ In 2016, on March 2,2012, the PSE Composite hits 5,000 mark the highest record close. However, in December 12,2012, almost ten months after, on January 7,2013, the PSE Composite gets to all-time record at 6,000 mark. In March it again broke another record by ending the day at 6,847.47 after Fitch Group upgraded the Philippines for the first time to investment grade status. On May 10,2013, it achieved its 29th record close for the closing at 7,262.38. In May 15,2013, the PSEi hit its 30th all-time high of 7403.65 and ending the day at 7,392.2 <Rappler, May 15,5,18 PM>. However, the tapering by the Federal Reserves in the United States caused the PSEi to end at 5,889.83. On April 6,2015, the PSE Composite hits the 8,000 mark, construction of the Philippine Stock Exchange office tower in Bonifacio Global City is expected to be completed by mid-2016. The remaining six indices are sector indices based on a main source of revenue
28.
Economy of Indonesia
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Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies and classified as an industrialised country. It is the sixteenth largest economy in the world by nominal GDP and is the eighth largest in terms of GDP, since 1999 the economy has recovered and growth has accelerated to over 4–6% in recent years. In 2012 Indonesia replaced India as the second-fastest-growing G-20 economy, behind China, in the 1960s, the economy deteriorated drastically as a result of political instability. They had a young and inexperienced government, which resulted in severe poverty, high levels of regulation and a dependence on declining oil prices, growth slowed to an average of 4. 5% per annum between 1981 and 1988. GDP per capita grew 545% from 1970 to 1980 as a result of the increase in oil export revenues from 1973 to 1979. High levels of growth from 1987 to 1997 masked a number of structural weaknesses in Indonesias economy. As a result, the system was very weak, and there was no effective way to enforce contracts, collect debts. Banking practices were unsophisticated, with collateral-based lending the norm and widespread violation of prudential regulations. Non-tariff barriers, rent-seeking by state-owned enterprises, domestic subsidies, barriers to domestic trade, the Asian financial crisis that began to affect Indonesia in mid-1997 became an economic and political crisis. Indonesias initial response was to float the rupiah, raise key domestic interest rates, the rupiah remained weak, however, and President Soeharto was forced to resign in May 1998. In August 1998, Indonesia and the IMF agreed on an Extended Fund Facility under President B. J Habibie that included significant structural reform targets, President Abdurrahman Wahid took office in October 1999, and Indonesia and the IMF signed another EFF in January 2000. The new program also has a range of economic, structural reform, the effects of the financial and economic crisis were severe. By November 1997, rapid currency depreciation had seen public debt reach US$60 bn, in 1998, real GDP contracted by 13. 1%. The economy reached its low point in mid-1999 and real GDP growth for the year was 0. 8%, inflation reached 72% in 1998 but slowed to 2% in 1999. The rupiah, which had been in the Rp 2, 600/USD1 range at the start of August 1997 fell to 11, 000/USD1 by January 1998, with spot rates around 15,000 for brief periods during the first half of 1998. It returned to 8, 000/USD1 range at the end of 1998 and has traded in the Rp 8, 000–10, 000/USD1 range ever since, with fluctuations that are relatively predictable. However, the rupiah began devaluing past 11,000 in 2013 and is as of November 2016 around 13,000 USD, in late 2004 Indonesia faced a mini-crisis due to international oil prices rises and imports
29.
List of stock exchanges
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This is a list of active stock exchanges. Those futures exchanges that also offer trading in securities trading in futures contracts are listed both here and at the list of futures exchanges. There are 16 stock exchanges in the world that have a market capitalization of over US$1 trillion each and they are sometimes referred to as the $1 Trillion Club. These 16 exchanges accounted for 87% of global market capitalization in 2015. Major stock exchanges of issued shares of companies, as of 31 January 2015 Note, Δ to UTC, as well as Open. During daylight saving period, the UTC times will be one hour less
30.
History of Indonesia
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The history of Indonesia has been shaped by its geographic position, its natural resources, a series of human migrations and contacts, wars and conquests, as well as by trade, economics and politics. Indonesia is a country of 17,000 to 18000 islands stretching along the equator in South East Asia. The countrys strategic sea-lane position fostered inter-island and international trade, trade has since fundamentally shaped Indonesian history, the area of Indonesia is populated by peoples of various migrations, creating a diversity of cultures, ethnicities, and languages. The archipelagos landforms and climate significantly influenced agriculture and trade, the boundaries of the state of Indonesia represent the 20th century borders of the Dutch East Indies. Fossilised remains of Homo erectus and his tools, popularly known as the Java Man, austronesian people, who form the majority of the modern population, are thought to have originally been from Taiwan and arrived in Indonesia around 2000 BCE. From the 7th century CE, the powerful Srivijaya naval kingdom flourished bringing Hindu, the agricultural Buddhist Sailendra and Hindu Mataram dynasties subsequently thrived and declined in inland Java. The last significant non-Muslim kingdom, the Hindu Majapahit kingdom, flourished from the late 13th century, for the most part, Islam overlaid and mixed with existing cultural and religious influences. Europeans such as the Portuguese arrived in Indonesia from the 16th century seeking to monopolise the sources of valuable nutmeg, cloves, in 1602 the Dutch established the Dutch East India Company and became the dominant European power by 1610. Following bankruptcy, the VOC was formally dissolved in 1800, by the early 20th century, Dutch dominance extended to the current boundaries. The Japanese invasion and subsequent occupation in 1942–45 during WWII ended Dutch rule, two days after the surrender of Japan in August 1945, nationalist leader, Sukarno, declared independence and became president. An attempted coup in 1965 led to a violent army-led anti-communist purge in which half a million people were killed. General Suharto politically outmanoeuvred President Sukarno, and became president in March 1968 and his New Order administration garnered the favour of the West whose investment in Indonesia was a major factor in the subsequent three decades of substantial economic growth. In the late 1990s, however, Indonesia was the country hardest hit by the East Asian Financial Crisis which led to popular protests, political and economic instability, social unrest, corruption, natural disasters, and terrorism have slowed progress. Although relations among different religious and ethnic groups are largely harmonious, acute sectarian discontent, in 2007 analysis of cut marks on two bovid bones found in Sangiran, showed them to have been made 1.5 to 1.6 million years ago by clamshell tools. This is the oldest evidence for the presence of man in Indonesia. In 1977 another H. erectus skull was discovered at Sambungmacan. In 2003, on the island of Flores, fossils of a new small hominid dated between 74,000 and 13,000 years old and named Flores Man were discovered much to the surprise of the scientific community. This 3 foot tall hominid is thought to be a descended from Homo erectus
31.
Spread of Islam in Indonesia
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The history of arrival and spread of Islam in Indonesia is unclear. Before the arrival of Islam, the predominant religions in Indonesia were Buddhism and Hinduism, initially, the spread of Islam was slow and gradual. The eastern islands of Indonesia remained largely animist until the 17th and 18th centuries when Christianity became predominant in those areas, the spread of Islam was initially driven by increasing trade links outside of the archipelago. Traders and the royalty of major kingdoms were usually the first to convert to Islam, dominant kingdoms included Mataram in Central Java, and the sultanates of Ternate and Tidore in the Maluku Islands to the east. This evidence cannot explain more complicated matters such as how lifestyles were affected by the new religion or how deeply it affected societies, nevertheless, a clear turning point occurred when the Hindu empire Majapahit in Java fell to the Islamised Demak Sultanate. In 1527, the Muslim ruler renamed newly conquered Sunda Kelapa as Jayakarta which was contracted to Jakarta. Assimilation increased rapidly in the wake of this conquest, funds, both public and private, are spent on the construction of new mosques, rather than the exploration of old ones. Before Islam was established in Indonesian communities, Muslim traders had been present for several centuries, Islam is thought to have been present in Southeast Asia from early in the Islamic era. From the time of the caliph of Islam, Uthman, Muslim emissaries. It would have been through this contact that Arabic emissaries between 904 and the century are thought to have become involved in the Sumatran trading state of Srivijaya. The earliest accounts of the Indonesian archipelago date from the Abbasid Caliphate, the presence of foreign Muslims in Indonesia does not, however, demonstrate a significant level of local conversion or the establishment of local Islamic states. The most reliable evidence of the spread of Islam in Indonesia comes from inscriptions on tombstones. The earliest legibly inscribed tombstone is dated AH475, although as it belongs to a non-Indonesian Muslim, the presence of the Shafii school of thought, which was to later dominate Indonesia, was reported by Ibn Battuta, a Moroccan traveller, in 1346. In his travel log, Ibn Battuta wrote that the ruler of Samudera Pasai was a Muslim who performs his religious duties with utmost zeal, the madhhab he used was Al-Shafi‘i with similar customs to those he had seen in India. Zheng He is credited to have settled Chinese Muslim communities in Palembang and along the shores of Java, the Malay Peninsula, and these Muslims allegedly followed the Hanafi school in the Chinese language. This Chinese Muslim community was led by Hajji Yan Ying Yu, Zheng He, originally named Ma He, was a Hui court eunuch, mariner, explorer, diplomat, and fleet admiral during Chinas early Ming dynasty. Zheng commanded expeditionary voyages to Southeast Asia, South Asia, Western Asia and his larger ships stretched 400 feet in length. These carried hundreds of sailors on four tiers of decks, as a favorite of the Yongle Emperor, whose usurpation he assisted, he rose to the top of the imperial hierarchy and served as commander of the southern capital Nanjing
32.
Japanese occupation of the Dutch East Indies
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The Japanese Empire occupied the Dutch East Indies, now Indonesia, during World War II from March 1942 until after the end of the War in 1945. The period was one of the most critical in Indonesian history, initially, most Indonesians joyfully welcomed the Japanese, as liberators from their Dutch colonial masters. The sentiment changed, as Indonesians were expected to more hardship for the war effort. In 1944–1945, Allied troops largely bypassed Indonesia and did not fight their way into the most populous parts such as Java, as such, most of Indonesia was still under Japanese occupation at the time of their surrender, in August 1945. Unlike the Dutch, the Japanese facilitated the politicisation of Indonesians down to the village level, particularly in Java and, to a lesser extent, Sumatra, the Japanese educated, trained and armed many young Indonesians and gave their nationalist leaders a political voice. Until 1942, Indonesia was colonised by the Netherlands and was known as the Dutch East Indies, the Japanese spread the word that they were the Light of Asia. The Japanese had gradually spread their influence through Asia in the first half of the 20th century and these ranged from small town barbers, photographic studios and salesmen, to large department stores and firms such as Suzuki and Mitsubishi becoming involved in the sugar trade. The Japanese population peaked in 1931, with 6,949 residents before starting a gradual decrease, a number of Japanese had been sent by their government to establish links with Indonesian nationalists, particularly with Muslim parties, while Indonesian nationalists were sponsored to visit Japan. Such encouragement of Indonesian nationalism was part of a broader Japanese plan for an Asia for the Asians, also concerned were members of the Indonesian communist underground who followed the Soviet Unions popular united front against fascism. Japanese aggression in Manchuria and China in the late 1930s caused anxiety amongst the Chinese in Indonesia who set up funds to support the anti-Japanese effort, Dutch intelligence services also monitored Japanese living in Indonesia. The memorandum was refused because the Government did not consider the Madjlis Rakyat Indonesia to be representative of the people, within only four months, the Japanese had occupied the archipelago. On 8 December 1941, the Netherlands declared war on Japan, in January the American-British-Dutch-Australian Command was formed to co-ordinate Allied forces in South East Asia, under the command of General Archibald Wavell. In the weeks leading up to the invasion, senior Dutch government officials went into exile taking political prisoners, family, before the arrival of Japanese troops, there were conflicts between rival Indonesian groups where people were killed, vanished or went into hiding. Chinese- and Dutch-owned properties were ransacked and destroyed, the invasion in early 1942 was swift and complete. By January 1942, parts of Sulawesi and Kalimantan were under Japanese control, by February, the Japanese had landed on Sumatra where they had encouraged the Acehnese to rebel against the Dutch. On 27 February, the Allied navys last effort to contain Japan was swept aside by their defeat in the Battle of the Java Sea, from 28 February to 1 March 1942, Japanese troops landed on four places along the northern coast of Java almost undisturbed. The fiercest fighting had been in invasion points in Ambon, Timor, Kalimantan, in places where there were no Dutch troops, such as Bali, there was no fighting. On 9 March, the Dutch commander surrendered along with Governor General Jonkheer A. W. L, as the Japanese advanced, rebellious Indonesians in virtually every part of the archipelago killed groups of Europeans and informed the Japanese reliably on the whereabouts of larger groups
33.
Indonesian National Revolution
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It took place between Indonesias declaration of independence in 1945 and the Dutch recognition of Indonesias independence at the end of 1949. The Indonesian independence movement began in May 1908, which is commemorated as the Year of National Awakening, the struggle lasted for over four years and involved sporadic but bloody armed conflict, internal Indonesian political and communal upheavals, and two major international diplomatic interventions. Dutch military forces were able to control the towns, cities and industrial assets in Republican heartlands on Java and Sumatra. In 1949 international pressure on the Netherlands became such that, together with the existing partial military stalemate, the revolution marked the end of the colonial administration of the Dutch East Indies, except for Netherlands New Guinea. It also significantly changed ethnic castes, as well as reducing the power of many of the local rulers and it did not significantly improve the economic or political fortune of the majority of the population, although a few Indonesians were able to gain a larger role in commerce. Budi Utomo, Sarekat Islam and others pursued strategies of co-operation by joining the Dutch initiated Volksraad in the hope that Indonesia would be granted self-rule, others chose a non-cooperative strategy demanding the freedom of self-government from the Dutch East Indies colony. The most notable of these leaders were Sukarno and Mohammad Hatta, the occupation of Indonesia by Japan for three and a half years during World War II was a crucial factor in the subsequent revolution. The Netherlands had little ability to defend its colony against the Japanese army, in Java, and to a lesser extent in Sumatra, the Japanese spread and encouraged nationalist sentiment. Just as significantly for the subsequent revolution, the Japanese destroyed and replaced much of the Dutch-created economic, administrative, on 7 September 1944, with the war going badly for the Japanese, Prime Minister Koiso promised independence for Indonesia, but no date was set. For supporters of Sukarno, this announcement was seen as vindication for his collaboration with the Japanese, under pressure from radical and politicised pemuda groups, Sukarno and Hatta proclaimed Indonesian independence, on 17 August 1945, two days after the Japanese Emperor’s surrender in the Pacific. The following day, the Central Indonesian National Committee elected Sukarno as President, PROCLAMATION We, the people of Indonesia, hereby declare the independence of Indonesia. Matters which concern the transfer of power and other things will be executed by careful means, as the news spread, most Indonesians came to regard themselves as pro-Republican, and a mood of revolution swept across the country. External power had shifted, it would be weeks before Allied Forces entered Indonesia, the resulting power vacuums in the weeks following the Japanese surrender, created an atmosphere of uncertainty, but also one of opportunity for the Republicans. Many pemuda joined pro-Republic struggle groups, the most disciplined were soldiers from the Japanese-formed but disbanded Giyugun and Heiho groups. Many groups were undisciplined, due to both the circumstances of their formation and what they perceived as revolutionary spirit, in the first weeks, Japanese troops often withdrew from urban areas to avoid confrontations. To spread the message, pemuda set up their own radio stations and newspapers. On most islands, struggle committees and militia were set up, Republican leaders struggled to come to terms with popular sentiment, some wanted passionate armed struggle, others a more reasoned approach. Some leaders, such as the leftist Tan Malaka, spread the idea that this was a struggle to be led
34.
Liberal democracy period in Indonesia
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With the unifying struggle to secure Indonesias independence now over, divisions in Indonesian society began to appear. Regional differences in customs, morals, tradition, religion, the impact of Christianity and Marxism, the new country was typified by poverty, low educational levels, and authoritarian traditions. The economy was in a state following three years of Japanese occupation then four years of war against the Dutch. In the hands of a young and inexperienced government, the economy was unable to boost production of food, most of the population was illiterate, unskilled, and suffered from a dearth of management skills. Inflation was rampant, smuggling cost the government much needed foreign exchange. It was abrogated on 9 July 1959 when President Sukarno issued a decree dissolving the Constitutional Assembly, a proliferation of political parties and the deals brokered between them for shares of cabinets seats resulted in rapid turnover coalition governments including 17 cabinets between 1945 and 1958. Instead, he sought a system based on the village system of discussion and consensus. He proposed a threefold blend of nasionalisme, agama, and komunisme into a co-operative Nas-A-Kom government and this was intended to appease the three main factions in Indonesian politics – the army, Islamic groups, and the communists. With the support of the military, he proclaimed in February 1957, Guided Democracy, western-style parliamentary democracy was thus finished in Indonesia until the 1999 elections of the Reformasi era. 1948–62, Darul Islam rebellions begin in West Java, spread to other provinces,1952,17 October, General Nasution is suspended as army chief of staff following army indiscipline over command and support that threatens the government. 1955, April, The city of Bandung hosts the Bandung Conference, pope sunk the Indonesian Navy vessel, the KRI Hang Toeah, and heavily damaged its sister, the KRI Sawega. Bailed out and captured by Indonesian armed forces on board the KRI Pulau Rengat
35.
Transition to the New Order
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Indonesias transition to the New Order in the mid-1960s, ousted the countrys first president, Sukarno, after 22 years in the position. One of the most tumultuous periods in the modern history. Described as the great dhalang, Sukarno drew power from balancing the opposing and increasingly antagonistic forces of the army, by 1965, the PKI extensively penetrated all levels of government and gained influence at the expense of the army. On 30 September 1965, six of the militarys most senior officers were killed in an action by the so-called 30 September Movement, within a few hours, Major General Suharto mobilised forces under his command and took control of Jakarta. The politically weakened Sukarno was forced to transfer key political and military powers to General Suharto, in March 1967, the Indonesian parliament named General Suharto acting president. He was formally appointed president one year later, Sukarno lived under virtual house arrest until his death in 1970. Nationalist leader Sukarno had declared Indonesian independence in 1945 and was appointed president and he stressed socialist policies domestically and an avidly anti-imperialist international policy, underpinned by an authoritarian style of rule dependent upon his charismatic personality. Sukarno was also a figure in developing the Non-Aligned Movement. In Indonesias domestic politics, Sukarno also carefully balanced Indonesias various political parties, from the late 1950s, political conflict and economic deterioration worsened. Severe poverty and hunger were widespread, and Sukarno led his country in a confrontation with Malaysia whilst stepping up revolutionary. Described as the great dhalang, President Sukarnos position came to depend on balancing the opposing and increasingly hostile forces of the army and his anti-imperial ideology saw Indonesia increasingly dependent on the Soviet Union and China. By 1965, at the height of the Cold War, the PKI penetrated all levels of government extensively, with the support of Sukarno and the air force, the party gained increasing influence at the expense of the army, thus ensuring the armys enmity. By late 1965, the army was divided between a faction allied with the PKI, and a right-wing faction that was being courted by the United States. These same policies, however, won Sukarno few friends and many enemies in the Western world and these especially included the United States and United Kingdom, whose investors were increasingly angered by Sukarnos nationalisation of mineral, agricultural, and energy assets. In need of Indonesian allies in its Cold War against the Soviet Union and this fostered a split in the militarys ranks, with the United States and others backing a right-wing faction against a left-wing faction overlapping with the PKI. In an attempt to curtail the right-wing militarys increasing power, the PKI, in 1963, a policy of Konfrontasi against the newly formed Federation of Malaysia was announced by the Sukarno regime. The Confrontation further encouraged the West to seek ways to topple Sukarno, on the night of 30 September–1 October 1965 six senior army generals were kidnapped and executed in Jakarta by a battalion of soldiers from the Presidential Guard in an attempted coup. The right faction among the top generals was wiped out, including the powerful Army Chief of Staff and they claimed to have arrested several generals belonging to a conspiracy, the Council of Generals, that had plotted a military coup against the government of President Sukarno
36.
New Order (Indonesia)
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The New Order is the term coined by the second Indonesian President Suharto to characterise his regime as he came to power in 1966. Suharto used this term to contrast his rule with that of his predecessor, the term New Order in more recent times has become synonymous with the Suharto years. The generation of 66 epitomised talk of a new group of young leaders, strident anti-communism remained a hallmark of the regime for its subsequent 32 years. Within a few years, however, many of its allies had become indifferent or averse to the New Order. Among much of the movement which forced Suharto to resign in the 1998 Indonesian Revolution and then gained power. It is frequently employed to describe figures who were tied to the Suharto period, or who upheld the practises of his authoritarian regime, such as corruption, collusion. Sukarno was Indonesias founding president, a position he had held since the Republics formation in 1945, in 1955, the first general parliamentary elections delivered an unstable parliament and from the late 1950s, Sukarnos rule became increasingly autocratic under his Guided Democracy. To the resentment of the Military and Muslim groups, this arrangement became increasingly reliant on the PKI which had become the country’s strongest political party, Sukarno’s anti-imperial ideology saw Indonesia increasingly dependent on the Soviet Union and China which was met with indignation from Western countries. Sukarno’s administration became increasingly ineffective in providing an economic system to lift its citizens out of poverty. Meanwhile, Sukarno led Indonesia into Konfrontasi, a confrontation with Malaysia, removed Indonesia from the United Nations. By 1965 at the height of the Cold War, the PKI penetrated all levels of government, with the support of Sukarno and the Air Force, the party gained increasing influence at the expense of the Army, thus ensuring the Armys enmity. Muslim clerics, many of whom were landowners, felt threatened by the PKIs rural land confiscation actions, the army was alarmed at Sukarno’s support for the PKI’s wish to quickly establish a fifth force of armed peasants and labourers. On 30 September 1965, six generals were killed by a group calling themselves the 30 September Movement who alleged a plot to kill the President. General Suharto led the army in suppressing the coup attempt. The Communist Party of Indonesia were quickly blamed and the led an anti-communist purge which killed an estimated 500,000 people. Student groups, such as KAMI, were encouraged by, and sided with, in March 1966, Suharto secured a presidential decree, which gave him authority to take any action necessary to maintain security. A June session of the parliament banned Marxism-Leninism, ratified the Supersemar. In August–September 1966, and against the wishes of Sukarno, the New Order ended Indonesias confrontation with Malaysia, in March 1967, the MPRS stripped Sukarno of his remaining power, and Suharto was named Acting President
37.
Post-Suharto era
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The Post-Suharto era in Indonesia began with the fall of Suharto in 1998 during which Indonesia has been in a period of transition, an era known in Indonesia as Reformasi. A more open and liberal political-social environment ensued following the resignation of authoritarian President Suharto, the process of reformasi in Indonesia has resulted in a greater degree of freedom of speech, in contrast to the pervasive censorship under the New Order. This has led to an open political debate in the news media. Events that have shaped Indonesia in this include a bombing campaign by Islamic terrorists. The Reformasi of 1998 led to changes in Indonesias various governmental institutions, reforms upon the structures of the judiciary, legislature, and executive office. When Suharto attempted to have Megawati removed as head of party in a back-room deal. This culminated in Black Saturday on 27 July, when the Indonesian military broke up the demonstrations and these further worsened when the 1997 Asian financial crisis reached Indonesia, highlighting the corruption of the New Order. Economic instability from the crisis affected much of the country, in the form of increased prices for staple foods and goods, and lowered standards of living and quality of life. In West Kalimantan, there was violence between Dayaks and Madurese in 1996, in the Sambas riots in 1999 and the Sampit conflict 2001. In the Sambas conflict, both Malays and Dayaks massacred Madurese, growing dissatisfaction with Suhartos authoritarian rule and the rapid erosion of the economy led many, chiefly the younger generation, to renew their protests directly against the New Order. During the years 1997–1998, a riot broke out in Indonesia. People were burning everything within the city including cars, motorcycles, buildings and this was further worsened when many were killed and raped, most of which were Indonesians of Chinese descent. No action was taken by the army or the police, in 1998, Suharto made the decision to stand before the parliament for a re-election and won. The result was considered so outrageous that students occupied the Parliament, Suharto soon stood down from the presidency, and named B. J. Habibie his successor. On Suhartos resignation, Vice-President B. J. Habibie was sworn in as President of Indonesia, as President, Habibie undertook numerous political reforms. In February 1999, Habibies Government passed the Political Parties Law, under this law, political parties were not limited to just three as had been the case under the Suharto regime. Political parties were not required to have Pancasila as their ideology. This resulted in the emergence of political parties and 48 would go on to compete in the 1999 legislative election
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