Bank Bali's profits up<\/p>\n
JAKARTA (JP): Bank Bali, a private commercial bank listed on
\nthe Jakarta and Surabaya stock exchanges, yesterday reported a
\n7.1 percent increase in after-tax profits to Rp 61.6 billion
\n(US$28.5 million) last year.<\/p>\n
Rudy Ramli, the bank's president, said in a presentation here
\nyesterday that the bank's profit per share rose to Rp 331 from Rp
\n309.<\/p>\n
Bank Bali's operating profit slightly increased to Rp 82.58
\nbillion from Rp 82.35 billion, he said.<\/p>\n
Rudy said the bank's total assets increased by 20.9 percent to
\nRp 4.14 billion as of the end of last year from Rp 3.42 billion
\nas of the end of 1992.<\/p>\n
He said the bank expects a 15-percent increase in profits and
\na 17-percent rise in assets this year.(02)<\/p>\n
Dollar down, gold up<\/p>\n
TOKYO (Agencies): The dollar closed lower at 103.58 yen on
\nthe Tokyo foreign exchange market yesterday, down 0.60 yen from
\nthe previous day's finish of 104.18 yen.<\/p>\n
In Singapore, dealers said that the dollar-mark was tested at
\na low of 1.6530 marks but recovered to 1.6590 marks as investors
\npanicked and bought up the dollar.<\/p>\n
The dollar eased to 5.6705 French francs, 103.60 Japanese yen,
\nS$1.5360 and HK$7.7245. The British pound strengthened to
\n$1.5070.<\/p>\n
In London, the dollar was trading at 08:45 GMT for 1.6575
\nGerman marks in London against 1.6580 marks late Wednesday and
\n1.6570 marks in New York.<\/p>\n
The greenback was also stable against the Japanese currency at
\n103.60 yen versus 103.55 on Wednesday in London and 103.58 in
\nTokyo.<\/p>\n
The pound sterling failed to benefit from improved retail
\nsales figures, trading slightly down at $1.508 versus 1.509 on
\nWednesday, at 2.499 marks (2.501 Wednesday) and at 8.554 France
\n(8.573).<\/p>\n
Gold closed higher in Hong Kong yesterday at $382.50-$383.00
\nan ounce, against the previous day's closing rate of $380.20-
\n$380.70. The market opened at $381.50-$382.<\/p>\n
Fund for IMF blocked<\/p>\n
WASHINGTON (AFP): A congressional subcommittee blocked US$100
\nmillion in International Monetary Fund appropriations Wednesday,
\na signal to the organization to reform.<\/p>\n
The House of Representatives foreign operations subcommittee
\ndealing with foreign appropriations cut funding for the IMF
\nEnhanced Structural Adjustment Facility (ESAF).<\/p>\n
ESAF funds go to the poorest nations to restructure their
\neconomies and pay off international debt.<\/p>\n
The subcommittee did however approve $23.2 million for the
\nWorld Bank.<\/p>\n
Non Governmental Organizations (NGO) hailed the IMF rejection,
\nbut expressed disappointment over the World Bank appropriation.<\/p>\n
Both the bank and the fund have come under fire from various
\ngroups for their lending policies. \"50 Years is Enough\", a
\ncoalition of over 35 human rights and environmental groups,
\nkicked off a campaign Tuesday calling for reform of the
\ninstitutions.<\/p>",
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"sponsor": "Okusi Associates",
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