ICC to hold meeting on arbitration
ICC to hold meeting on arbitration
JAKARTA: The International Chamber of Commerce (ICC) will hold a
conference on Feb. 16 at the JW Marriott Hotel in South Jakarta
to discuss the use of arbitration in settling international
business disputes.
The chairman of the ICC's International Court of Arbitration,
Dr. Robert Briner, will be a guest speaker at the conference.
The conference will be held at a time when the number of
arbitration cases in the region is growing -- including cases
involving the ownership of power plants in the Philippines and
the sale of a Korean bank, which are being handled by the ICC.
The ICC Court is the world's foremost institution in the
resolution of international business disputes, resolving more
than 13,000 cases involving parties from some 180 countries since
its establishment in 1923. -- JP
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Money-Philippina-CB
New RP central bank chief named
JP/16/money
New RP central bank chief named
MANILA: Philippine President Gloria Macapagal Arroyo on Monday
appointed Amando Tecangco as the new Central Bank chief to
replace Rafael Buenaventura who was due to retire in July.
Presidential spokesman Ignacio Bunye said Arroyo made the
announcement during a meeting with Japanese businessmen at the
presidential palace.
"Mr. Tetangco will assume the post in July when Central Bank
Governor Rafael Buenaventura retires," he said.
Tetangco is a career officer of the central bank, serving in
various capacities. He is currently a deputy governor of the
Central Bank. -- DPA
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Money-economy-credit
S. Korean credit card spending up
JP/16/money
S. Korean credit card spending up
SEOUL: The government said on Monday that South Korean credit-
card spending rose sharply in January, sparking speculation that
domestic consumption is finally recovering from a two-year slump.
Credit card settlement rose 14.8 percent year-on-year to 14.7
trillion won (US$14.19 billion) in January, the Finance and
Economy Ministry said.
Tourism, entertainment, discount shops, home shopping and
hospitals saw a more than 20 percent increase in January.
Lodging, consumer electronics, filling stations, boutiques and
department stores did well in January but internet commerce and
neighborhood supermarkets were still in recession. -- AFP
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Money-China-auto
Luxury car sales in China slow down
JP/16/money
Luxury car sales in China slow down
BEIJING: Sales of luxury cars in China last year slowed sharply,
with Audi and Mercedes-Benz of Germany both failing to meet sales
goals, state press said on Monday.
China's auto market, once seen by many foreign makers as
virtually untapped frontier territory, saw sales growth in 2004
fall to 15 percent after an explosive 75 percent in 2003,
according to the official Xinhua news agency.
It said Audi, a part of the Volkswagen group which has a joint
venture with China's First Automotive Works Corp, sold 64,018
cars in China in 2004 for a gain of only 0.8 percent from 2003
when sales had soared more than 70 percent.
Mercedes-Benz saw combined sales on the mainland and in Hong
Kong rise 5.0 percent to 11,500 in 2004. -- AFP