Seminar on tourism on small islands

Seminar on tourism on small islands

JAKARTA: The Ministry of Culture and Tourism, in cooperation
with the World Tourism Organization, will hold a one-day seminar
on the development of tourism on small islands in the country
next Monday.

The ministry said in a statement Wednesday that the seminar
would feature among others Maldives' director general of tourism
the key note speaker, the ministry's officials and experts from
the University of Indonesia.

It said the seminar's organizer invited the official from the
African country into the seminar because the country, which is
also an archipelago like Indonesia, had gain acclaims for its
success to develop tourism in its small islands. The official is
thus expected to share Maldives's experience with the seminar's
participants.

About 100 participants are expected to attend the seminar,
including governmental officials, legislators, experts and
industry players.

Sponsored by Singapore Airlines, Hotel Indonesia, J.W. Marriot
Hotel, Grand Hyatt, the seminar will be held at the office of the
Ministry of Culture and Tourism, Gedung Sapta Pesona -- JP

IMF revises Thais's growth to 3.2%

BANGKOK: The International Monetary Fund (IMF) has revised up
its economic growth forecast for Thailand this year to 3.2
percent from 2.7 percent, reports said Wednesday.

The IMF revised its forecast on the strength of strong
consumer spending, a rebound in exports and a recovering global
economy, the reports said.

The IMF's Asia Pacific chief Alessandro Zanello said strong
government spending and lower interest rates had allowed the Thai
economy to weather sluggish demand for exports.

"I think Thailand's monetary policy is appropriately
supportive of the country's economic growth right now," Zanello
was quoted as saying by the Business Day.

"Low interest rates can encourage more investment from the
local private sector," he said, adding that the government had to
expand consumer credit along with corporate lending to boost
domestic spending.

The IMF also raised its 2003 growth projection for Thailand to
3.6 percent from 3.5 percent. --AFP

Japan's industrial output up 0.2%

TOKYO: Japan's industrial output rose a disappointing 0.2
percent in April but inventories fell by the deepest margin in 48
years hinting a rebound was underway, the government said
Wednesday.

The output figure was well under a consensus forecast of a
month-on-month 0.9 percent gain mainly due to overheated
expectations for electronics machinery and some production
delays, said officials from the Ministry of Economy, Trade and
Industry.

But a 10.6 percent drop in stockpiles from a year earlier --
the biggest decrease since 1954 -- prompted the ministry to
upgrade an assessment on output, announcing production "appears
to be rebounding" from a previous view that it remained stagnant.

The April output figure followed a 0.8 percent increase in
March.

The ministry forecast May industrial output would surge 5.1
percent month-on-month but it was seen falling 0.4 percent in
June, though Nishio said the June figure would drop mainly due to
seasonal factors. --AFP

S.Korean industrial output rises 7.3%

SEOUL: South Korea's industrial output jumped 7.3 percent
year-on-year in April after a 4.4 percent gain in March,
underlining a rapid economic recovery, officials said Wednesday.

April industrial output, seasonally adjusted, increased 1.8
percent from March, when there was a gain of 3.8 percent
month-on-month, on lower semiconductor, telecom equipments and
computer output, the National Statistical Office said in a
statement.

Semiconductor output grew 10.0 percent year-on-year in April
after a 9.2 percent gain in March. Automobile production grew
16.7 percent compared with a 10.2 percent rise a month earlier.

Shipbuilding and oil refinery output fell from a year earlier
in April.

Factories operated at 77.6 percent of their capacity in April,
compared with 77.5 percent in March.
a 7.9 percent rise in March and increased 0.1 percent month-on-
month after a 2.5 percent gain.

Combined wholesale and retail sales rose 7.7 percent year-on-
year in April, compared with an 8.3 percent rise in March. Month-
on-month, wholesale and retail sales dropped 0.4 percent after
growing 1.6 percent a month earlier.

Plant investment was up 2.1 percent year-on-year, down from a
2.4 percent gain a month earlier.

Domestic machinery orders rose 21.9 percent year-on-year after
a 48.4 percent in March. Domestic construction orders grew 31.3
percent year-on-year, compared with a 168.6 percent rise in
9March.--AFP