British trade delegation to visit RI
British trade delegation to visit RI
JAKARTA: A trade delegation from Britain will visit Indonesia from March 4 to March 8 to look for business opportunities and to strengthen trade relations between both countries, the British Embassy in Jakarta said.
The embassy, in a statement, said the delegation from the Nottinghamshire Chamber of Commerce and Industry would be led by Britain's director for international trade Michael J. Brosch.
The delegates include Lincoln Diesels Plc., Probiotics International Ltd., Fisher Scientific UK Limited, Supatag UK Ltd., Sewtech, Zeta Textiles, Nectar, Britannia Traders (GB) Ltd., and General Sewing Data Limited.
The delegation will meet with the Indonesia Chamber of Commerce and Industry and, aside from Jakarta, will visit several other towns, including Bandung and Surabaya. --JP
Japan industrial output drops
TOKYO : Japanese industrial output fell 1.0 percent in January from a month earlier, a much worse figure than economists' had expected and food for thought for the Bank of Japan's policy- setting meeting later on Thursday.
The month-on-month output drop, on a seasonally adjusted basis, was much worse than a median forecast of a rise of 0.6 percent in a Reuters poll of 11 economists conducted last week.
The Ministry of Economy, Trade and Industry also said production remained in a declining trend, although economists said the ministry's forecast for a strong 4.7 percent February increase in manufacturers' output -- the core component of overall industrial production -- provided room for some optimism.
The January figures poured cold water on hopes for a positive surprise in next week's fourth quarter gross domestic product data, and showed that Japan still had a long way to go before crawling out of its worst recession of the post-war era. --Reuters
Gold muted in thin European trade
LONDON : Gold bullion was subdued on Thursday morning in Europe, with prices fluctuating in the mid-US$290s after succumbing to profit-taking overnight in Asia.
Although gold managed to cling to positive territory, the overnight sell-off in Asia appears to have knocked the rises seen earlier on Wednesday, when prices pushed up to the top end of the current trading range and 10-day highs, dealers said.
Gold trickled lower on TOCOM after the yen slipped back following the Bank of Japan's monetary policy easing.
At 1057 GMT (5.57 p.m Jakarta time), spot gold was indicated at $296.90/297.20, versus $295.90/296.40 at Wednesday's close in New York.
Silver trade remained thin, and was last quoted at $4.43/4.45 an ounce, versus $4.44/4.46 previously in New York.-- Reuters
Eurozone Jan inflation jumps
BRUSSELS : Euro zone consumer prices rose by more than expected in January, with estimates suggesting the switch to euro cash may have boosted the monthly price increase by 0.16 percent at most, Eurostat said on Thursday.
The European Union's statistical agency said consumer prices rose 0.5 percent in January and were 2.7 percent higher than a year earlier.
The annual inflation rate was revised up from the 2.5 percent estimate published earlier this month while December's rate was put at 2.0 percent.
Eurostat said its initial estimates suggested the euro changeover effect on the increase in prices between December and January was likely to be within the range of 0.0-0.16 percent. --Reuters