BOT maintains Thai growth forecast<\/p>\n
BANGKOK: Thailand's central bank has maintained its economic
\ngrowth forecast of 2.5-3.5 percent for this year, a report said
\nThursday.<\/p>\n
The prediction would remain despite the fact several
\ninstitutions have revised their figures in light of signs of
\nrecovery in the domestic economy, Bank of Thailand (BOT) governor
\nPridiyathorn Devakula told the Business Day.<\/p>\n
\"The BOT's previous growth prediction suits the current
\neconomic situation,\" Pridiyathorn was quoted as saying.<\/p>\n
The National Economic and Social Development Board, a Thai
\neconomic agency, said last week it was planning to raise its
\ngrowth forecast up from its earlier prediction of two to three
\npercent.<\/p>\n
It declined, however, to provide the new estimate, which will
\nbe released Monday.<\/p>\n
Last month the International Monetary Fund raised its growth
\nforecast for Thailand in 2002 to 3.2 percent from 2.7 percent. --
\nAFP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneyMatter-Japan-retaliate
\nJapan delays retaliatory action
\nJP\/16\/Money<\/p>\n
Japan delays retaliatory action<\/p>\n
TOKYO: Japan has delayed a plan to retaliate against U.S.
\nsteel tariffs following talks between top trade officials from
\nthe two countries, the trade ministry said Thursday.<\/p>\n
The agreement followed a one-hour telephone conversation
\nbetween Japanese Trade Minister Takeo Hiranuma and U.S. Trade
\nRepresentative Robert Zoellick on Thursday.<\/p>\n
\"We agreed not to raise tariffs. I got an impression from
\ntalks with Zoellick that the United States has been working
\nconstructively on Japanese concerns,\" Hiranuma told reporters.<\/p>\n
In March, U.S. President George W. Bush announced he was
\napplying tariffs of up to 30 percent on most steel imports to
\nprotect the ailing U.S. steel industry, prompting Tokyo and other
\ncountries to lodge complaints with the World Trade Organisation.<\/p>\n
Japan later warned it would impose 100 percent tariffs worth
\n4.88 million dollars a year on certain U.S. steel products from
\nJune 18 unless the United States dropped its new tariffs on
\nJapanese steel imports. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneyMatter-Chinese-consumer
\nChinese consumer prices drop
\nJP\/16\/Money<\/p>\n
Chinese consumer prices drop<\/p>\n
BEIJING: Chinese consumer prices dropped 1.1 percent in May
\nfrom a year earlier, the seventh straight month that the index
\nhas fallen, a report issued by the National Bureau of Statistics
\nrevealed Thursday.<\/p>\n
May's fall in prices follows a 1.3 percent year-on-year drop
\nin April, according to the statistics issued by the bureau.<\/p>\n
In the five months to May, the consumer price index (CPI) was
\ndown 0.8 percent year-on-year, having dropped by 0.7 percent in
\nthe four months to April.<\/p>\n
Chinese planners have targeted a two percent inflation rate
\nfor the year, but oversupply in key industries and increasing
\njoblessness were working to keep prices and wages down, analysts
\nsaid. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneyMatter-WB-Pakistan
\nWB clears US$500m for Pakistan
\nJP\/16\/Money<\/p>\n
WB clears US$500m for Pakistan<\/p>\n
WASHINGTON: The World Bank said it had cleared a US$500-
\nmillion loan for Pakistan as it approved a strategy for continued
\nengagement with the country.<\/p>\n
The credit from the World Bank's International Development
\nAssociation, announced late Tuesday, has a 35-year maturity with
\na 10-year grace period and a 0.75 percent service charge.<\/p>\n
It is aimed at supporting Pakistan's economic reform and debt
\nreduction plans.<\/p>\n
The plans include reforming the power sector, revamping the
\ntax system to boost revenue, attracting investment in oil and gas
\nsectors and improving social services, education and health.<\/p>\n
The South Asian nation also planned to set up a system to
\nmonitor implementation of the reforms, the Bank said.<\/p>\n
World Bank directors also approved a new country assistance
\nstrategy (CAS), which will guide the Bank's work in Pakistan over
\nthe next three years, it said. -- AFP<\/p>",
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"sponsor": "Okusi Associates",
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