SHANGHAI: China's foreign direct investment rose 14.9 percent

SHANGHAI: China's foreign direct investment rose 14.9 percent
in 2001 compared with the previous year, the Ministry of Foreign
Trade and Economic Cooperation website said Monday.

Actual FDI rose to US$46.85 billion , while contracted FDI
rose 10.43 percent to $69.19 billion, the ministry said.

During the year, the country gave approval for the
establishment of 26,139 new foreign-invested enterprises, 16.01
percent more than the approvals received in 2000, bringing the
total number of foreign firms in China to 390,484 the ministry
added. - AFP

India to post high income-growth

NEW DEHLI: India's central bank on Monday said the country
would post one of the world's highest income-growth rates over
the next six to nine months, despite a slump in the industrial
sector.

"It is still not clear whether economies of industrial
countries, particularly the U.S., will shape up in months to
come, but domestically it is true that in addition to China,
India is likely to show one of the highest rates of growth in
income," Reserve Bank of India governor, Bimal Jalan, was quoted
as saying by the Press Trust of India.

Jalan told a banking meet in Calcutta that robust growth in
agriculture, one of the main planks of the Indian economy,
combined with growth in the services sector would help the
overall economy.

However, he added that the gloomy industrial scenario would
present "new challenges" for the banking system.

India's economic growth slid to 5.2 percent in the financial
year ending March 2001, compared to a target of 6.0 percent.

The growth at the end of the third financial quarter from
October to December stood at 5.4 percent. - AFP

Thai jobless rate falls to 2.4 pct

BANGKOK: Thailand saw its unemployment rate fall to 2.4
percent in November 2001, from 3.2 percent in October and
compared with 3.6 percent a year earlier, the National
Statistical Office said on Monday.

The office said in a statement its monthly survey showed about
820,000 Thais out of work in November, against 1.06 million in
October and 1.2 million in November 2000.

It attributed the lower November jobless rate to increased
seasonal farm sector employment as annual harvests of many key
Thai commodity crops started during the month.

The office said stimulus programs implemented by the Thai
government also cut the jobless rate.

Oil price eases on technical factors

LONDON: The price of oil eased here on Monday morning with
technical factors driving the market lower, traders said.

Benchmark Brent North Sea crude for February delivery dipped
to US$ 20.58 a barrel from $20.86 on Friday evening.

In New York, February-dated light sweet crude futures lost 70
cents a barrel on Friday to 19.68 dollars.

The basket price of the Organization of Petroleum Exporting
Countries (OPEC) fell to $18.53 a barrel on Friday from $18.87 on
Thursday, the OPECNA agency reported from Vienna. - AFP

HK airport passengers down 0.9%

HONG KONG: Passenger numbers at Hong Kong's international
airport in 2001 fell by 0.9 percent year-on-year to 33.06
million, the Airport Authority of Hong Kong said Monday.

The authority said in a statement that flight movements rose
by 8.2 percent to 196,805.

Meanwhile cargo dropped 7.4 percent to 2.08 million tonnes.
In December, passenger traffic fell 0.9 percent year-on-year to
2.76 million, while flight movements rose 2.6 percent to 16,580,
mainly due to an increase in flights to and from China, Taiwan
and Japan.

"Given the circumstances of 2001, they're better than
expected. The December cargo figures were particularly good, and
we hope this marks the start of our return to growth," chief
executive officer David Pang said. - AFP