Business sentiment in RI weakens<\/p>\n
JAKARTA: Danareksa Research Institute said investor confidence in
\nIndonesia fell during February and March due to uncertainty at
\nhome and abroad.<\/p>\n
In its latest survey, on Monday, Danareksa said that the
\nconfidence index during the period fell 1.4 percent.<\/p>\n
It also said that confidence in the government dropped as the
\noperating conditions for businesses worsened.<\/p>\n
It added that many businessmen continue to feel that law
\nenforcement in the country remains weak.<\/p>\n
The institute said that under such unfavorable conditions
\nbusiness appeared riskier, and that this encouraged business
\noperators to put off expansion plans. -- JP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneymatter-House-Hartadi-election
\nHouse approves Hartadi's election
\nJP\/16\/money<\/p>\n
House approves Hartadi's election<\/p>\n
JAKARTA: The House of Representatives formally appointed on
\nTuesday Hartadi A. Sarwono as a new deputy governor of Bank
\nIndonesia, replacing Miranda S. Goeltom.<\/p>\n
The appointment was made during a plenary session. Hartadi now
\nmust wait for the Supreme Court's stamp of approval before
\nofficially taking up the post.<\/p>\n
House Commission IX for financial affairs elected Hartadi,
\ncurrently the central bank's chief representative to Tokyo, on
\nMay 19. He beat out two other candidates, Bambang Sindu Wahyudi
\nand Siti C. Fadjriah, for the post.<\/p>\n
Hartadi will hold the new job for a five-year term, filling a
\npost that has been vacant since May 17, when Miranda's term
\nended. -- JP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneymatter-SKorean-banks
\nSouth Korean banks' NPL soar
\nJP\/16\/money<\/p>\n
South Korean banks' NPL soar<\/p>\n
SEOUL: South Korean banks face mounting non-performing loans
\n(NPL), reflecting the financial crunch faced by both individuals
\nand businesses amid the ongoing economic slowdown, the financial
\nwatchdog said on Tuesday.<\/p>\n
Non-performing loans held by the country's 19 banks stood at a
\ntotal of 18.73 trillion won (US$15.6 billion) at the end of
\nMarch, up an alarming 24 percent from the end of December, the
\nFinancial Supervisory Service (FSS) said.<\/p>\n
Non-performing loans are loans whose interest payment have
\nbeen in arrears for three months or longer.<\/p>\n
The ratio of non-performing loans against all loans
\nsubsequently rose 0.4 percentage points to 2.7 percent during the
\nthree-month period.<\/p>\n
The rapid increase was attributable to snowballing household
\ndebts in arrears, most of them credit card loans, and surging
\ncorporate failure to service debts, FSS said. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneymatter-Euro-zone-surplus
\nEuro-zone surplus narrows in March
\nJP\/16\/money<\/p>\n
Euro-zone surplus narrows in March<\/p>\n
FRANKFURT, Germany: The euro zone had a current account
\nsurplus of 1.2 billion euro (US$1.4 billion) in March, smaller
\nthan the surplus of 7.4 billion euro recorded a year earlier,
\ndata published by the European Central Bank (ECB) on Tuesday
\nshowed.<\/p>\n
The ECB attributed the decline to a sharp decline in the goods
\nsurplus, \"which was only partially offset by a lower deficit for
\ncurrent transfers and a by a shift of the balance for services
\nfrom a deficit to a surplus.\"<\/p>\n
In the financial account, combined direct and portfolio
\ninvestment in the euro area recorded net inflows of 12.7 billion
\neuro in March, compared with outflows of 1.7 billion euro a year
\nearlier, the ECB added.<\/p>\n
The surplus in the euro zone contrasts with a heavy deficit in
\nthe United States, which economists say is one reason why the
\ndollar has fallen and the euro has risen. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nMoneymatter-ECB-pave-way-rate
\nECB to pave way for possible rate cut
\nJP\/16\/money<\/p>\n
ECB to pave way for possible rate cut<\/p>\n
FRANKFURT, Germany: The European Central Bank (ECB) appeared
\nto prepare the ground for a possible cut in interest rates late
\non Monday, with the bank's deputy president Lucas Papademos
\npointing to slowing inflation and very sluggish economic activity
\nin the single currency area.<\/p>\n
\"Favorable conditions have been established for a further
\ndecline in inflation... and recent developments seem to confirm
\nthis favourable trend,\" Papademos told journalists at a dinner
\nhere in comments released for publication on Tuesday.<\/p>\n
Although the ECB is facing increasing calls from euro-zone
\ngovernments, worried over their ailing economies and a euro at
\nhistoric highs, to slash borrowing rates, the guardian of the
\neuro has always argued its main task is to keep a lid on
\ninflation rather than take active measures to boost growth and
\nemployment.<\/p>\n
Nevertheless, Papademos appeared on Monday to be opening the
\ndoor for a possible rate cut, even as soon as the next week when
\nthe ECB's governing council holds its next policy-setting
\nmeeting. The bank has held its central \"refi\" refinancing rate at
\n2.50 percent since March. -- AFP<\/p>",
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