Negotiations on railways<\/p>\n
YOGYAKARTA (JP): Director General of Land Transportation
\nSoejono said yesterday that the government is inviting private
\nfirms to cooperate with the state-owned railway company Perumka
\nin running both cargo and executive class trains.<\/p>\n
In a seminar held at the University of Gadjah Mada, Soejono
\nsaid that negotiations concerning the cooperation are still being
\nconducted and are scheduled to be completed next year.<\/p>\n
\"In the planned cooperation, private firms will only be
\nlicensed to operate the trains, while Perumka will still own all
\nof the facilities including engines, cars, signals and the
\nrailway tracks,\" he said, adding that the join operation projects
\nshould hire Perumka's human resources.<\/p>\n
Perumka's president, Anwar Suprijadi, said that his company
\nexpects to operate the JS950 express passenger trains between
\nJakarta and the East Java capital of Surabaya, and will cover the
\ndistance in nine hours, and JB250 trains linking Jakarta and
\nBandung of West Java within two hours.<\/p>\n
The planned projects, which will be launched at the 50th
\nanniversary of the country's independence in 1995, will involve
\nprivate companies, including PT Lorinta for the JS950
\ntrains.(mun\/icn)<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-Spore-triangle
\nGrowth triangle pact signed
\nJP\/9\/COLBOX2<\/p>\n
Growth triangle pact signed<\/p>\n
SINGAPORE (AFP): Singapore, Malaysia and Indonesia are to sign
\na preliminary agreement today to formalize an economic growth
\ntriangle nearly five years after it was first proposed.<\/p>\n
The memorandum of understanding (MOU), to be signed in
\nsouthern Malaysia's Johore state, provides for setting up a
\nconsultative mechanism to oversee trilateral cooperation
\nactivities in the zone, a statement from the Trade and Industry
\nMinistry here said.<\/p>\n
Growth triangles are localized economic zones involving
\ncontiguous provinces in neighboring countries.<\/p>\n
The concept of a growth triangle encompassing Singapore, Riau
\nProvince in Indonesia and Malaysia's Johore state was first
\nproposed by Singapore in December 1989. Several projects were
\nalready underway in the area.<\/p>\n
Parts of Indonesia, particularly Batam island, made quick
\neconomic headway from increased tourism and the spillover of
\nmanufacturing operations from Singapore firms seeking land and
\ninexpensive labor, businessmen said.<\/p>\n
Singapore's Deputy Premier Lee Hsien Loong, Indonesia's
\nCoordinating Minister for Industry and Trade Hartarto
\nSastrosoenarto and Malaysia's International Trade and Industry
\nMinister Rafidah Aziz will sign the MOU, the statement said.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-Tokyo-dollar
\nDollar mostly higher
\nJP\/9\/COLBOX3<\/p>\n
Dollar mostly higher<\/p>\n
TOKYO (AFP): The dollar closed slightly higher in Tokyo
\nyesterday in narrow trading with investors sidelined ahead of
\nnext week's U.S. Federal Open Market Committee (FOMC) meeting.<\/p>\n
The U.S. unit closed at 100.31 yen on the Tokyo foreign
\nexchange market, up 0.05 yen from the previous day's finish of
\n100.26 yen. The dollar traded at 100.37 yen in New York late
\nThursday.<\/p>\n
In Singapore, the U.S. dollar ended virtually unchanged
\nagainst most major currencies in light trading, dealers said.<\/p>\n
Rates provided by the Banque Nationale de Paris showed the
\ndollar strengthening slightly to 1.5715 marks compared with
\nThursday's closing at 1.5705 marks.<\/p>\n
In London, sterling also managed to rise against the mark to
\n2.4570 marks from 2.4547. The French franc rose to 3.4465 francs
\nto the mark, compared with 3.4475 at the Thursday close and a
\nyear-low of 3.4515 reached on Thursday morning here.<\/p>\n
The dollar was being traded at 1.5720 marks from 1.5705 at the
\nclose on Thursday, at 100.25 yen from 100.30, at 1.3295 Swiss
\nfrancs from 1.3270 and at 5.4138 French francs from 5.4237.<\/p>\n
The mark was trading at 3.4465 French francs from 3.4475, at
\n1,038.2 lira from 1,040.5, at 0.8465 Swiss francs from 0.8440 and
\nat 63.85 yen from 63.80.<\/p>\n
The price of gold rose to $380.25 per ounce from $379.75.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-France-poor-debt
\nRich ease debt repayment
\nJP\/9\/COLBOX4<\/p>\n
Rich ease debt repayment<\/p>\n
PARIS (AFP): The Club of Paris, grouping most of the rich
\ncreditor countries, has agreed to ease the debt burden bearing on
\nthe poorest countries by increasing the slice of their annual
\ndebt payments which may be canceled.<\/p>\n
A club official said that the arrangement should avoid the
\nneed for debtors to seek a rescheduling each year.<\/p>\n
Until now poor countries have been able to obtain cancellation
\nof only up to half of the annual payments due but from now on
\nthis percentage could be increased in theory to 67 percent.<\/p>\n
Meanwhile a Club official said that this year the Club had
\nrescheduled debts of 15 countries amounting to US$21.3 billion
\nand the figure next year was expected to be the same.<\/p>\n
The Club of Paris, representing 18 countries, has until now
\nhandled only the amounts due under annual deadlines and not the
\ndebt stock, except in the cases of Indonesia, Poland and Egypt.<\/p>\n
The decision revealed yesterday affects, in theory, 27
\ncountries, among them many African countries, countries in
\ncentral America and in South Asia, and particularly Vietnam, in
\nall of which per capita annual income is less than $695.<\/p>\n
The overall debts amount to $35 billion, of which $28 billion
\ncome within the ambit of the Club.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-Thailand-oil
\nPTT to expand overseas
\nJP\/9\/COLBOX5<\/p>\n
PTT to expand overseas<\/p>\n
BANGKOK (AFP): The Petroleum Authority of Thailand (PTT) said
\nyesterday it was stepping up overseas expansion, with joint
\nventure projects in China and Vietnam already under way.<\/p>\n
PTT governor Luen Krisnakri said the authority was
\nestablishing trading companies in Myanmar, Cambodia, Laos and the
\nPhilippines and had undertaken feasibility studies in other Asian
\nstates, such as India, Indonesia and Malaysia.<\/p>\n
In China, PTT entered a joint venture agreement with Charoen
\nPhokphand Group (CP) and the China Petro-Chemical International
\nCo. (SINOPEC) for operations, including two service stations
\nalready operating in Maoming.<\/p>\n
Fourteen more service stations are under construction and
\nawait authorization, out of a projected total of 200 within five
\nyears, a PTT statement said.<\/p>\n
In Vietnam, PTT is working with France's Total and Viet Gas to
\ndevelop the liquefied petroleum gas (LPG) market and build an LPG
\nfilling plant, the statement said.<\/p>\n
PTT, which purchased overseas natural gas for the first time
\nlast year, is also negotiating exploitation of several gas fields
\nin the Gulf of Thailand, including ventures with Myanmar and
\nMalaysia.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-USA-housing
\nU.S. housing starts up
\nJP\/9\/COLBOX6<\/p>\n
U.S. housing starts up<\/p>\n
WASHINGTON (AFP): U.S. housing construction soared 6.9 percent
\nin November, the largest increase in eight months, the Commerce
\nDepartment said.<\/p>\n
The increase, which came after a 4.6 percent drop in housing
\nconstruction in October, surprised analysts who expected rising
\nmortgage rates to slow down single-family construction.<\/p>\n
;REUTER;
\nANPAf..r..
\nBizbrief-Cambodia-WBank
\nCambodia gets WB aid
\nJP\/9\/COLBOX7<\/p>\n
Cambodia gets WB aid<\/p>\n
PHNOM PENH (Reuter): The World Bank has signed an agreement to
\nprovide Cambodia technical assistance worth US$17 million,
\nFinance Minister Keat Chhon said yesterday.<\/p>\n
The minister signed the agreement at the Finance Ministry
\nalong with Arnaud Guinard, the permanent representative of the
\nWorld Bank for Thailand, Laos, Cambodia and Myanmar.<\/p>\n
Chhon said the money would be used to provide technical
\nassistance, training and equipment for civil service reform and
\n\"to provide a legal environment conducive to the development of
\nthe private sector\".<\/p>\n
Guinard said progress had been made in the past two years and
\ntraining was important.<\/p>\n
Chhon said he hoped the agreement would demonstrate to other
\ncontributors the benefits of technical and financial assistance
\nto Cambodia.<\/p>\n
He said he would like to secure $335-350 million from
\ninternational donors in 1995, compared to $275 million this year.<\/p>\n
;AFP;
\nANPAf..r..
\nBizbrief-Malaysia-inflation
\nMalaysia's inflation up
\nJP\/9\/COLBOX8<\/p>\n
Malaysia's inflation up<\/p>\n
KUALA LUMPUR (AFP): Malaysia's annual inflation rate, measured
\nby the consumer price index, rose 3.6 percent in November from
\n3.1 percent the previous month, a government agency said
\nyesterday.<\/p>\n
The increase pushed the country's annual inflation rate for
\nthe January-November period to 3.8 percent over the previous
\nyear, the statistics department said.<\/p>\n
The higher figure was largely attributable to rising prices of
\nfood, beverages, transport and fuel, it said.<\/p>\n
Prices of food rose 5.4 percent, beverages and tobacco 4.9
\npercent and transport and communication 4.8 percent, the
\ndepartment said in its latest monthly inflation data.<\/p>\n
The treasury has targeted to curb overall inflation at 3.8
\npercent for this year, on an 8.5 percent growth in gross domestic
\nproduct (GDP). Inflation stood at 3.6 percent last year, with GDP
\ngrowth at 8.5 percent.<\/p>\n
The central bank has been concerned with rising inflation in
\nan economy which has been growing at a robust rate of more than
\neight percent since 1987.<\/p>",
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