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...owes $2.4 billion to foreign creditors, said the sultan, and faces economic collapse unless it receives foreign aid. Its economy is so inflated that prices may rise 1,000% this year. The sultan reversed Sukarno's socialism by inviting new foreign investment and a strengthening of the private sector, also called for a halt to grandiose building projects. Taking him at his word, workers walked off their jobs at the $27 million skyscraper complex that was to house Sukarno's Committee for Emerging Forces, a sort of United Nations of the underdeveloped countries...

Author: /time Magazine | Title: Indonesia: Reducing the Aura | 4/22/1966 | See Source »

...heaviest fighting occurred in the I Corps sector abutting the 17th parallel in the northernmost provinces, where the Reds, having apparently abandoned hopes of slicing South Viet Nam in two at the Central Highlands, are now concentrating their efforts. In Operation Texas, six battalions of allied forces dashed to the aid of a beleaguered outpost at An Hao, then found themselves tangling with four battalions of hardcore Viet Cong and North Vietnamese troops. In five days they wiped out 485 of the attackers and crippled the unit as a fighting force...

Author: /time Magazine | Title: The War: The Greatest Drama | 4/1/1966 | See Source »

Leaders of the front knew all too well what had happened. Said Carlos Lleras Restrepo, 57, the Liberals' candidate for President next May: "The traditional parties have lost contact with a certain sector of the population." He meant the thousands of excampesinos who squat in squalid shacks surrounding Bogota and Cartagena and have been growing restive under the lackluster rule of Conservative President Guillermo León Valencia. During the campaign, Rojas drew enthusiastic crowds with his vivid lectures on economics, in which he argued that the way to get the peso on a par with the dollar...

Author: /time Magazine | Title: Colombia: A Threat of Daggers | 4/1/1966 | See Source »

Prior Rights. The victory for private power stemmed from the court's finding that the private combine had first claim to harness that sector of the turbulent Snake by virtue of its 1955 FPC permit to investigate the possibilities of two smaller dams near by. Held the court: it "would be manifestly unfair" to a private company that "has expended large sums over a long period, if a state or municipality could step in and reap the fruit of its labors by obtaining a license merely because of the [Power Act] preference...

Author: /time Magazine | Title: Utilities: Decision on the Snake | 4/1/1966 | See Source »

...Indeed, said Halperin, Peking has now "urged on the Viet Cong the need to adopt a strategy of survival until the American invaders tire of the war and withdraw." China's leaders, he told the committee, are well aware that a U.S. nuclear attack would devastate their "modernized sector" and are determined not to provoke...

Author: /time Magazine | Title: The War: Deflating the Dragon | 3/25/1966 | See Source »

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