Foreign business news in brief

  • Business
  • Wednesday, 08 Jan 2003

JAKARTA: Indonesia’s foreign direct investment (FDI) approvals dropped 35% to US$9.74bil in 2002 from US$15.06bil the prior year, government figures showed. State investment agency BKPM said just over 1,000 new projects were approved last year, down from 1,180 in 2001. 

Many investors have reduced their exposure to Indonesia since the country plunged into political and economic turmoil in the late 1990s and have remained wary ever since. Investors were further alarmed after the bombings on Indonesia’s resort island of Bali last October which killed nearly 200 people. – Reuters 



CHICAGO: The Boeing Co delivered 381 commercial aircraft in 2002 – the fewest in five years but on target with its lowered estimate in the depressed aviation industry. The company said it delivered 86 aircraft in the fourth quarter to finish the year with one more delivery than its revised objective of 380. 

The year’s total was down 28% on 527 deliveries in 2001, when the full impact of the Sept 11 terror attacks on the US was not yet evident. Boeing expects 2003 deliveries to fall to between 275 and 285 – a decline likely to hand its title as the world’s largest commercial jet manufacturer to rival Airbus. – AP 



TOKYO: The Osaka Securities Exchange (OSE) plans to list on its own Hercules market for start-ups towards the end of the year. According to OSE spokesman Kentaro Tsuyama, the exchange aims to use the proceeds from its share sale to introduce a next-generation trading system. 

The Hercules Nippon New Market was born in December from the remnants of the Nasdaq Japan market run by the OSE after US-based parent Nasdaq Stock Market Inc pulled out of the venture. – AFX 



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