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.