Foreign investors eye Seram<\/p>\n
AMBON, Maluku: A number of investors from China and Japan as
\nwell as European countries have reportedly expressed interest in
\ndoing business in Seram Island in Maluku province, an official
\nsaid here on Wednesday.<\/p>\n
"Besides foreign investors, Indonesian businessmen have also
\nbeen seeking information on making investments in Seram Island,"
\nMaluku Governor Karel Alberth Rahalahu said.<\/p>\n
Most of the investors are interested in the island's fishing,
\nagricultural, plantation and mining industries, said the newly
\nappointed governor.<\/p>\n
These investments, if carried out, would have a good impact on
\nthe local people's lives in particular, and in Maluku in general,
\nKarel said.<\/p>\n
Maluku has begun rebuilding after it was wracked by a four-
\nyear bloody sectarian conflict, which broke out early
\n1999.--Antara<\/p>\n
;AFP;
\nANPAf..r..
\nMoney-SKorea-investment
\nFDI in South Korea falls sharply
\nJP\/16\/Money2<\/p>\n
FDI in South Korea falls sharply<\/p>\n
SEOUL: Foreign direct investment (FDI) in South Korea fell
\nsharply this year but foreign investors raised their stock
\nholdings in top business groups, officials said on Wednesday.<\/p>\n
For the nine months to September, FDI in South Korea totaled
\nUS$4.63 billion, down 36.1 percent from a year ago, according to
\nthe Ministry of Commerce, Industry and Energy.<\/p>\n
"Despite signs of modest global economic recovery,
\nmultinational companies' investment sentiment remains weak due to
\nconcern over profit deterioration amid sluggish domestic
\neconomy," the ministry said in a statement.<\/p>\n
In the three months to September, South Korea attracted $1.97
\nbillion in FDI, down 19.9 percent from a year earlier, it said.<\/p>\n
U.S. and Japanese slashed their investment here in the third
\nquarter, while the European Union boosted its investment. -- AFP<\/p>\n
;AFP;
\nANPAf..r..
\nMoney-Philippines-economy
\nRP sees moderate 2003 growth
\nJP\/16\/Money3<\/p>\n
RP sees moderate 2003 growth<\/p>\n
MANILA: The Philippines on Wednesday forecast moderate growth
\nthis year after earning itself a ratings downgrade from Moody's
\nover political concerns and acknowledged that the prospects for
\n2004 depend very much on May's presidential election.<\/p>\n
Global recovery should help the Philippines attain 4.2 percent
\neconomic growth this year but 2004 depends on the outcome of the
\nvote, Economic Planning Secretary Romulo Neri said in a
\nstatement.<\/p>\n
Gross domestic product (GDP) was likely to have grown between
\n3.8 and 4.3 percent for the three months to September after a 3.9
\npercent rise in the first half, he said.<\/p>\n
The government earlier set a full-year GDP growth target of
\n4.2-5.2 percent.<\/p>\n
Growth should pick up further to between 5.2 and 6.0 percent
\nin 2004 although it will be dependent on the "results of the
\npolitical exercise next year," Neri added.<\/p>\n
President Gloria Arroyo announced last weekend that she would
\nseek a six-year term, calming businessmen worried by uncertainty
\nover the presidential succession after she earlier had said she
\nwould not stand. --AFP<\/p>\n
;AFP;
\nANPAf..r..
\nMoney-India-telecom
\nMobile phone users up in India
\nJP\/16\/Money4<\/p>\n
Mobile phone users up in India<\/p>\n
NEW DELHI: The number of mobile phone subscribers in India has
\npassed 18 million with the addition of more than 900,000 new
\nusers in September, a cellular operators' body said on Wednesday.<\/p>\n
The number of new subscribers in September was 906,176,
\ncompared with 1.1 million in August, the Cellular Operators
\nAssociation of India (COAI) said in a press release.<\/p>\n
The number of mobile phone users in India has doubled since
\nSeptember 2002 when the figure was 8.53 million.<\/p>\n
State-run Bharat Sanchar Migam Ltd. (BSNL) netted the maximum
\nnumber of 321,953 new subscribers in September up from 205,226 in
\nAugust, bringing its subscriber base to 4.02 million, the figures
\nshowed.<\/p>\n
The private Bharati Televentures Ltd., however, maintained its
\nlead as the biggest of the 13 cellular service providers adding
\n227,569 new subscribers last month and 353,547 in August to take
\nits subscriber base to 4.62 million, the figures showed. -- AFP<\/p>\n
;DJ;
\nANPAf..r..
\nMoney-Australia-Benefit
\nAustralia to benefit from ASEAN
\nJP\/16\/Money5<\/p>\n
Australia to benefit from ASEAN<\/p>\n
CANBERRA: Australia will benefit from a new economic union
\nagreed this week between 10 Southeast Asian nations because of
\nits close ties with the region, the government said on Wednesday.<\/p>\n
Trade Minister Mark Vaile said the government welcomed the
\naccord signed on Tuesday by leaders from the Association of
\nSoutheast Asian Nations, or Asean, at a summit in Bali,
\nIndonesia, to fashion a European Union-like economic community by
\n2020.<\/p>\n
"It signals a strong political commitment to ongoing openness
\nand trade liberalization in the region," Vaile told Parliament.<\/p>\n
Vaile said Australian economic ties with Asean countries were
\nworth about A$34 billion each year and growing rapidly. That
\nfigure would increase to around A$65 billion by 2010, he said.<\/p>\n
"What we are seeing here is a further public commitment from
\nAsean economies to keep moving in that direction," he said.<\/p>\n
Australia last year signed an economic pact with Asean and a
\ntwo-way trade agreement with Singapore. Vaile said Australia and
\nThailand were likely to conclude trade negotiations in coming
\nweeks and sign an agreement before the end of the year.--AP<\/p>\n
;AFP;
\nANPAf..r..
\nMoney-HongKong-air
\nHK set to raise air departure tax
\nJP\/16\/Money7<\/p>\n
HK set to raise air departure tax<\/p>\n
HONG KONG: Hong Kong said Wednesday it will increase its
\ndeparture tax for air passengers by 50 percent to 120 Hong Kong
\ndollars (15.38 US) early next year in a bid to trim its fiscal
\ndeficit.<\/p>\n
The increase will generate additional public revenue of 400
\nmillion dollars a year to help reduce Hong Kong's swelling
\nfiscal, it said.<\/p>\n
The government has estimated a fiscal deficit of 67.8 billion
\ndollars for the current fiscal year, although some analysts have
\nforecast the figure could rise to some 85 billion dollars due to
\nthe need to fund relief packages to spur a recovery in the wake
\nof the devastating SARS outbreak.<\/p>\n
The implementation of the proposal to raise the departure tax
\nwas postponed because of the Severe Acute Respiratory Syndrome
\n(SARS) outbreak this year that left 299 people dead from 1,755
\ninfected and devastated the tourism and travel sectors. -AFP<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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