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