1. Coffee 3X15
1. Coffee 3X15
Lampung traders import coffee from Vietnam
JP/10/Coffee
JAKARTA (JP): Many coffee growers and exporters prefer to keeping their coffee beans in the storehouses because of continued lower price, forcing several exporters to import the commodity to cover their export obligations, the Association of Indonesian Coffee Exporters (AEKI) said.
AEKI's deputy chairman Nuril Hakim confirmed to The Jakarta Post that several exporters in Lampung, which is the country's largest coffee producer, had bought coffee beans from Vietnam to cover its obligations to buyers.
"Due to shortage of coffee supplies, they purchased Vietnam's coffee beans to meet its contract obligations," Nuril said on Saturday.
Nuril said that the exporters preferred to buying coffee from Vietnam than elsewhere because of its lower price.
"Vietnam's coffee beans are between Rp 300 (3.3 US cents) and Rp 500 cheaper than local ones per kilogram," he said.
2. Thai 3X14
Thai minister sees recession in second half
P/10/Thailand
Thai finance minister sees recession in H2 2001
BANGKOK (Reuters): Finance Minister Somkid Jatusripitak said on Saturday the Thai economy would slip into a mild recession in the second half of this year on the back of a global slowdown.
"When the world economy is not good, domestic setbacks would likely emerge. Our economy in the second half will definitely face an economic recession, but not very much," he told a business luncheon.
Somkid said overall economic growth for 2001 would still fall within the government's forecast growth range of 1.5-2.0 percent.
The Thai economy grew by 4.4 percent in 2000.
Somkid gave no gross domestic product (GDP) forecasts for the second half of 2001, but said a mild recession was not a serious problem.
3. Lamb 2X20 U.S. ends lamb import quota for Aussie,NZ
U.S. ends Australia, New Zealand lamb import quota
WASHINGTON (Reuters): The United States said on Friday it will abandon an import quota on lamb meat from Australia and New Zealand, effective Nov. 15, and instead provide its domestic industry with new aid of US$42.7 million.
The deal comes just hours before a deadline set by Australia and New Zealand for the United States to lay out its plans for the import quota, which has been deemed illegal by the World Trade Organization.
"We are pleased that by working cooperatively with our lamb producers, members of Congress, and important trade partners, we have resolved this difficult issue," U.S. Trade Representative Robert Zoellick said in a statement, saying the program would enhance the competitiveness of their lamb industry and was fully consistent with our WTO obligations.
4. Virus 2X18
Computer virus costs US$10.7 billion
Computer virus costs reach US$10.7 billion this year
SAN FRANCISCO (Reuters): The worldwide cost of the Code Red computer worms that were unleashed on the Internet in July and August has reached about US$2.6 billion, an independent research firm said on Friday.
While hefty, that was just a part of the total cost of attacks on computer systems this year.
The cost of virus attacks on information systems around the world reached an estimated $10.7 billion so far this year, according to Computer Economics of Carlsbad, California. That compares with $17.1 billion for all of 2000 and $12.1 billion in 1999, Computer Economics said.
"If there are no new bugs, then we will land under that, around $15 billion," said Michael Erbschloe, vice president of research at Computer Economics. But "one more big outbreak that becomes a billion dollar bug" would put the total over last year's.
5. Airline 3X14
Airline orders tumbles with no relief seen
Airline jet orders tumbling, no relief in sight
CHICAGO (Reuters): Orders for jetliner production have continued to nose dive in 2001 from their peak three years ago and no relief is in sight as global airlines bleed money and face a turbulent 2002, industry experts said.
Major airlines have been removing capacity, measured by available seat miles, since announcing dismal second-quarter results. Most cutbacks so far are in the form of accelerated retirement of older, bigger aircraft. Fewer seats can mean higher fares and hopefully a return to profitability.
Airlines are quietly ordering fewer planes as well, and manufacturers are trimming projections.
Last year, carriers around the globe placed 1,081 net orders.
By mid-2001, orders were at 480, according to Richard Aboulafia, director of aviation at consulting firm Teal Group. But there were also 100 cancellations. He sees only about 600 net orders this year and maybe half that next year.
6. Steel 2X15
U.S. steelmakers file anti-dumping
U.S. steelmakers file wide-ranging anti-dumping case
WASHINGTON (AFP): U.S. steel manufacturers filed an anti- dumping case Friday demanding duties of up to 304 percent against producers in 11 countries and charging five governments with extending illegal subsidies.
Lawyers for the U.S. firms charged in a statement that steel was being dumped here from Brazil, Canada, Egypt, Germany, Indonesia, Mexico, Moldova, South Africa, Trinidad and Tobago, Ukraine and Venezuela.
In a petition filed to the U.S. International Trade Commission (ITC) and Commerce Department, they demanded duties of up to 304 percent on the imports, which they said were being sold in the United States for less than on the home markets.
They also accused the governments of Brazil, Canada, Germany, Trinidad and Tobago and Turkey of providing substantial illegal subsidies to carbon steel wire rod industries.