BKMP plans region rating program

BKMP plans region rating program

The Investment Coordinating Board (BKPM) is planning a rating
program to assess the competitiveness of each region for
investment.

BKPM's chairman Theo Toemion told The Jakarta Post recently
that the rating program was aimed at providing potential
investors with better information about each region.

"We (BKPM) are now in talks with Finance Minister Boediono on
this plan," Theo said.

He said that BKPM was considering appointing a rating agency
to conduct the survey. -- JP

Kuwait oil minister says to offer resignation

KUWAIT: Kuwait Oil Minister Adel al-Subaih said he planned to
offer his resignation later on Saturday after a huge explosion at
an oil facility killed four people and knocked off 600,000
barrels per day (bpd) of production.

Subaih told Reuters at the inauguration of an oil exhibition
that he planned to meet the country's Crown Prince and Prime
Minister Sheikh Saad al-Abdulla al-Sabah to tender his
resignation after the ceremony.

"It is true -- after a while I am going to see Sheikh Saad al-
Abdulla al-Sabah," he said.

It was not immediately known if the resignation of Subaih, who
was appointed a year ago, would be accepted. -- Reuters

ADB team sent to Afghanistan

MANILA: A five-member Asian Development Bank (ADB) team has
been sent to Afghanistan to prepare reconstruction projects for
the war-ravaged country, the Manila-based organization said
Saturday.

Led by Hafeer Rahman, head of the South Asia operations
coordination division, the delegation left on Friday "to prepare
projects for the reconstruction and rehabilitation of
Afghanistan," the bank said in a statement.

The ADB team, working with World Bank and the UN Development
Programme officials, will hold talks with senior members of
Afghanistan's interim administration on education, health,
agriculture and environment issues, it said. -- AFP

Singapore, U.S. to hold talks

SINGAPORE: Singapore and the United States will hold a seventh
round of talks in March for reaching a bilateral free trade
agreement (FTA), the city-state's Ministry of Trade and Industry
said on Saturday.

In the sixth round of talks held this week, "significant"
progress was made in the areas of rules of origin, trade in goods
and general services, financial services, telecom services, e-
commerce, government procurement, investment and intellectual
property rights, the ministry said in a statement.

Export-driven Singapore signed its first bilateral FTA with
New Zealand in 2000.

It signed a pact with Japan earlier this year. -- Reuters

India's forex reserves increase

BOMBAY: India's foreign exchange reserves continued to clock
record highs and analysts said it could top the US$50 billion
mark in the next few weeks helped by higher remittances from
exporters and foreign direct investments.

Data from the central bank released on Saturday showed foreign
exchange reserves rose to $49.252 billion on January 25 from
$49.225 billion at the end of the previous week.

"Forex reserves should touch the $50 billion by end-February
or in March," Sanjeet Singh, analyst at ICICI Securities and
Finance Company said.

Forex reserves rose by $2.36 billion in the past eight weeks
to Jan. 25, but traders and analysts said the pace of inflows
could slacken in the next few weeks as foreign portfolio
investments wane. -- Reuters