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