BI, JSX to close on Monday
BI, JSX to close on Monday
JAKARTA: Bank Indonesia and the Jakarta Stock Exchange have announced that they will mark next week's public holiday on Monday rather than Tuesday, in accordance with a new government policy of encouraging public holidays to be moved to ensure a three-day weekend.
The central bank and the stock exchange said in separate statements that there would be no transactions on March 3, but they would resume normal operations on March 4, detik.com reported.
Officially, next week's public holiday marking the Islamic New Year falls on Tuesday.
The government announced the new policy late last year, as part of efforts to encourage Indonesians to travel more and help revive the country's tourist sector, which was devastated by the Bali bombings. -- JP
;Agencies; ANPAf..r.. Corporatebrief-BHP-Profits BHP Billiton profits sink 19.4% JP/14/Brief
BHP Billiton profits sink 19.4%
SYDNEY, Australia: Anglo-Australian mining giant BHP Billiton on Monday posted a 19.4 percent slump in first-half net profit to US$931 million, hit by a sharp rise in the South African rand.
The world's largest diversified miner said sales rose 5.2 percent to US$8.05 billion dollars in the six months to December with increased volume in iron ore, energy coal, diamonds and aluminum.
It also achieved higher prices for petroleum products, nickel, copper, manganese, metallurgical coal and chrome.
Newly-appointed chief executive Chip Goodyear said it was a decent result achieved in "turbulent" times but that while demand from China was strong, difficult market conditions remained. -- AFP
;Agencies; ANPAf..r.. Corporatebrief-Australia-Woolworths Woolworths' posts 17% rise in profit JP/14/Brief
Woolworths' posts 17% rise in profit
SYDNEY, Australia: Australia's biggest supermarket group Woolworths on Monday reported a 17 percent rise in first half net profit, citing cost cuts and sales growth in a resilient domestic economy.
News of the A$372 million (US$219.4 million) net profit saw the company's shares surge more than five percent.
The company said it had upgraded its full year forecast on the back of what analysts described as strong interim results and announced a A$500-600 million share buyback.
Woolworths Ltd. chief executive Roger Corbett reaffirmed full year sales growth guidance of 10.5 to 11.5 percent and said the company was on track to achieve its cost-cutting targets.
"Cost savings have continued to be aggressively pursued with a further 0.31 percent reduction in costs as a percentage of sales in the half year," he said in a statement. --AFP
;Agencies; ANPAf..r.. Corporatebrief-Microsoft-Taiwan Microsoft seeks business settlement JP/14/Brief
Microsoft seeks business settlement
TAIPEI: Microsoft will soon come up with a proposal to Taiwan authorities in a bid to settle unfair business practices allegations against it, Fair Trade Commission (FTC) vice chairman Chen Chi-yuan said on Monday.
Chen said the proposal was expected on Tuesday, with the FTC holding a meeting on Thursday to decide whether the Microsoft Corp. offer would be accepted.
Negotiations were concluded over the weekend on Microsoft's request for an administrative settlement on the dispute which centers on the software giant's alleged manipulation in pricing through market dominance.
Microsoft in October applied for an administrative settlement with the FTC, which started investigation five months earlier. Chen declined to disclose details of the discussions. -- AFP
;Agencies; ANPAf..r.. Corporatebrief-Malaysia-AirAsia No-frills AirAsia to expand to ASEAN JP/14/Brief
No-frills AirAsia to expand to ASEAN
KUALA LUMPUR: Malaysia's no-frills AirAsia will start flying regionally by January 2004 as its two-phase expansion plan broadens its network through joint ventures with airlines in Indonesia and Thailand, a report said on Monday.
In the process, AirAsia plans to buy up to eight additional aircraft to service its new regional routes, AirAsia chairman Pahamin Rajab was quoted as saying by the New Straits Times.
"Our immediate plan will be to fly between domestic hubs such as Kota Kinabalu, Senai and Penang. Once we obtain the government's approval to fly from these hubs, we will proceed to the second phase of our expansion," he said.
At present, AirAsia operates six B737-300 and will expand the fleet to 15 by the end of the year. These additional eight aircraft, to be used for the regional expansion, will bring its fleet to 23. -- AFP