JAKARTA: Saudi Arabia and Indonesia are ready to boost crude

JAKARTA: Saudi Arabia and Indonesia are ready to boost crude
oil output if the Organization of Petroleum Exporting Countries'
basket price stays above US$28 a barrel for 20 consecutive days,
Indonesia's Oil and Energy Minister Purnomo Yusgiantoro said
Tuesday.

"There's a tendency that oil prices will remain high, and
Saudi Arabia is ready to boost its output," he told reporters.
"Indonesia will support the move."

Saudi Arabia is the largest crude oil producer among the OPEC
member countries.

Under its price-band mechanism, OPEC will increase output by
500,000 barrels a day if the price of its basket of crudes
remains above $28/bbl for 20 consecutive trading days, or cut
output by 500,000 b/d if the price stays below $22/bbl for 10
consecutive trading days.

The OPEC basket price has been over $28 for five trading days
now. It averaged $28.22/bbl last Friday, up from $28.17/bbl
Thursday, according to OPEC's latest price bulletin issued
Monday. -- Dow Jones

U.S. smoked 422b cigarettes in 2001

WASHINGTON: People in the United States smoked 422 billion
cigarettes last year, down 2 percent from 2000, as higher prices
and tougher regulations kept many from lighting up, the U.S.
Agriculture Department said on Monday.

"Health concerns, an aggressive anti-smoking campaign, price
increases and decreased social acceptance of smoking continue to
affect U.S. consumption," the USDA said in its monthly tobacco
report.

For the fourth consecutive year, U.S. cigarette production
fell, to 580 billion cigarettes in 2001, down from 595 billion
the previous year. For 2002, production was expected to remain
unchanged.

World cigarette production declined slightly in 2001 to 5.470
trillion, down from 5.468 trillion the previous year. Increased
production in China and Germany helped offset the decline in the
United States.

China, the world's largest cigarette producer, made 1.71
trillion smokes, up 8 billion from 2000.

Germany produced 213.8 billion cigarettes, up from 206.8
billion in 2000. The German increase was due to rising demand in
France, Spain and Italy. -- Reuters

Taiwan bans polystyrene tableware

TAIPEI: The authorities on Tuesday took another step forward
in their aim of creating a more environmentally friendly Taiwan
when they imposed a ban on the use of polystyrene and plastic
tableware by public sector catering facilities.

Subject to the "eco-friendly" restrictions are the canteens of
government agencies, state enterprises, military units, schools,
and of public hospitals, the Environmental Protection
Administration (EPA) said.

"Any restaurant violating the rules will be fined up to
NT$300,000 (US$8,570)," an EPA official said.

The measures were part of an EPA policy introduced on July 1
which also includes a ban on the distribution of plastic bags by
government agencies, schools and military units.

The ban on the polystyrene and plastic tableware was postponed
for three months because of hygiene worries during the summer
drought.

The EPA estimated the ban would reduce Taiwan's total
consumption of polystyrene and plastic tableware by 3.57 percent
a year.

The ban on plastic bags will be extended to supermarkets,
chain stores, fast-food shops and department stores from Jan. 1.
-- AFP

South Korean exports surge

SEOUL: South Korean exports posted a third consecutive month
of double-digit growth in September despite weak demand from the
United States, officials said Tuesday.

Exports rose 12.6 percent from a year earlier to US$14.01
billion in September, compared with $13.99 billion in August, the
Commerce, Industry and Energy Ministry said.

"Exports posted three consecutive months of double digit
growth on the back of stronger demand for semiconductors,
computers, telecoms equipment and other electronics goods," it
said in a statement.

The monthly trade surplus dropped to $1.00 billion in
September from $1.12 billion in August.

But the trade surplus in the nine months to September surged
beyond the goverment's full-year target of seven billion dollars
to $7.79 billion from $7.33 billion a year ago, the ministry
said. -- AFP

Japan business confidence rises

TOKYO: The Bank of Japan said Tuesday its latest Tankan survey
showed business confidence had risen in the past three months,
with the large manufacturers' index improving to minus 14 from
minus 18.

The index of large non-manufacturers' confidence edged up to
minus 13 in the September survey from minus 16 in the previous
Tankan in June, it said.

The consensus view among economists is that the index of
business confidence at large manufacturers will come in at minus
12 and investors hardly reacted to the outcome of the Tankan
survey.

As a detailed study of Japanese businesses and their plans for
the months ahead, the quarterly Tankan survey is the central
bank's key source of data for planning.

The indices measure the difference between firms saying
economic conditions are favorable and those saying they are
unfavorable. A negative figure means a majority of firms believe
conditions are unfavorable. -- AFP