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Democrats surrender to Bush over funding for Iraq troops
Tim Reid in Washington
From The TimesMay 24, 2007
Democrats yesterday abandoned their demand that a war funding Bill contain a withdrawal date for US troops from Iraq, thereby handing President Bush a victory in his fight with Congress over how to end the conflict.
The decision to back down and give Mr Bush almost $90 billion (£45 billion), which he had requested in February to continue paying for the war, brought only a temporary end to the legislative showdown over Iraq, with Democrats vowing to renew calls for troop withdrawal this summer.
The Democrat capitulation was a reminder that despite their takeover of Congress after the November mid-term elections, which many in the party saw as a popular call to end the war, their slim majorities in the lower house and Senate still leave them powerless to override a presidential veto.
The three-month battle over funding the war has demonstrated that Mr Bush, despite his anaemic approval ratings and the unpopularity of the war, is still able to prosecute it without congressional interference. The Democratic decision was also a reflection of the political dangers of cutting off funds for the war. Although two thirds of Americans oppose the conflict Democrats are still haunted by the experience of Vietnam. The party, which controlled Congress then, cut off funds for that deeply unpopular war but then spent decades being blamed for the defeat.
Democrat leaders worried that a continued refusal to give Mr Bush an Iraq funding Bill that he would sign – he vetoed one last month that contained a withdrawal date – would be seen as indifference to the troops, a politically untenable stance.
One key to Mr Bush’s victory was that Republicans on the Capitol largely stood united behind the White House.
“Democrats have finally conceded defeat in their effort to include mandatory surrender dates in a funding bill for the troops,” John Boehner, the Republican leader in the House, said. But Democrats believe that, despite their climb-down, the spending battle has laid the ground for a fresh push to end the war later this year. The $120 billion Bill that they will send to Mr Bush tomorrow funds the wars in Iraq and Afghanistan only until September – the month that General David Petraeus, the US ground commander, gives his crucial progress report to Congress.
This month a delegation of moderate Republicans went to the White House and told Mr Bush that unless General Petraeus could prove significant progress in the war they would defect. Ray LaHood, one of those Republicans, said yesterday that progress in Iraq must come quickly. “There is very, very thin patience on the part of the American people.”
Mr Bush made some concessions. After initially saying that he would accept no strings in a funding Bill, he agreed to 18 political and legislative “bench-marks” for the Iraqi Government. If they are not met US reconstruction aid could be cut.
Congrats on your returns Bro. I hope it continues for you threw out the year.
Tommorrow will be fun to watch heading into a three dayer for the markets.
Trav.
I picked up some brown chip stocks (doggie poe poe)today, not much of a return on them, so IMO, stay away. lol. Had one split after the Craft's man found it.
But makes for a cleaner run while mowing the lawn. Had a few dips through the day, but made an exit piont early on and stuck with it.
Sooo, Im in the green now. lmao.
Trav.
Now for the Heggie's. lol.
KIWI facts, lol. Just to help us all out here. lol. I thought it was from Hawaii....DOOOHHHHH.
KIWIFRUIT
Actinidia deliciosa
Actinidiaceae
Common Names: Kiwifruit, kiwi, Chinese gooseberry, Yang-tao.
Related species: Hardy Kiwi (Actinidia arguta, A. kolomikta), Chinese Egg Gooseberry (A. coriacea), Red Kiwi (A. melanandra), Silver Vine (A. polygama), Purple Kiwi (A. purpurea).
Origin: The kiwifruit is native to the Yangtze River valley of northern China and Zhejiang Province on the coast of eastern China. The first seeds were brought out of China by missionaries to New Zealand at the turn of this century. Early nurserymen in New Zealand, such as Alexander Allison, Bruno Just, and Hayward Wright, recognized the potential of the fruit and it soon became a popular backyard vine. Several plants were sent to the Chico Plant Introduction Station in California and exist to this date. In addition to New Zealand and California, kiwifruit is also grown commercially in such areas as Italy, South Africa and Chile.
Adaptation: The plants need a long growing season (at least 240 frost-free days) which will not be hampered by late winter or early autumn freezes. When fully dormant they can withstand temperatures to about 10° F (and perhaps a bit lower.) However they must acclimate to cold slowly and any sudden plunge in temperature may cause trunk splitting and subsequent damage to the vine. Late winter freezing temperatures will kill any exposed buds which limits the adaptable growing areas of kiwifruit. In California the kiwifruit is an appropriate crop wherever citrus fruits, peaches and almonds are successful. All cultivars need a certain period of winter chilling and their needs vary dramatically, dependent upon cultivar. The most popular cultivar, Hayward, does best with a winter rest of 800 hours of chilling (defined as total hours between 32° and 45° F.) For warm winter areas with low chill hours (such as southern California, southern Texas, and Florida), cultivars such as Elmwood, Dexter, Abbott, or Vincent would be more suitable. In very mild winter areas the vines may retain their leaves and fail to flower the following season. Kiwi vines can be successfully grown in large containers.
DESCRIPTION
Growth Habit: In the forests where it is native, the plant is a vigorous, woody, twining vine (liana) or climbing shrub. It is not unusual for a healthy vine to cover an area 10 to 15 feet wide, 18 to 24 feet long and 9 to 12 feet high. In cultivation it is supported on a trellising system.
Foliage: The large, deep green, leathery leaves are oval to nearly circular and 7 to 10 inches in diameter. Young leaves and shoots are coated with red hairs, while mature leaves are dark green and hairless on the upper surface, downy-white with prominent, light colored veins beneath.
Flowers: The large (1 to 2 inch diameter), white to cream colored flowers are somewhat fragrant and produced as singlets to triplets in the leaf axiles. The flowering period extends over several weeks from early May to June, depending on climatic conditions. The plants are dioecious, bearing either male or female flowers, thus needing plants of both sexes to produce fruit. Self-fruiting males are known to exist but produce less desirable fruit.
Fruit: The oval, ovoid or oblong fruit is up to 2-1/2 inches long, with russet-brown skin densely covered with short, stiff brown hairs. The flesh, firm until fully ripe, is glistening, bright green or sometimes yellow, brownish or off-white, except for the white, succulent center from which radiate many fine, pale lines. Between these lines are scattered minute dark-purple or nearly black seeds, unnoticeable in eating. The flavor is sweet/tart to acid, somewhat like that of the gooseberry with a suggestion of strawberry.
CULTURE
Location: Kiwifruit will tolerate part shade but prefer a sunny location where they can ramble across some type of trellising system. The vines should be protected from strong winds. Spring gusts can snap off new growth where it emerges from the canes. Kiwifruit is not recommended for the hot dessert climates of the Southwest.
Site Preparation: Kiwifruit plants need a substantial trellis, patio cover, or other permanent place to grow upon. For the trellis system, either a single wire or T-bar system can be installed. Both have a 4 inch by 4 inch redwood post of 8 feet. For the T-bar, a 2 inch by 6 inch crossarm about 4 feet long is bolted in place. Bury the post 2 feet into the ground and cement in if at all possible. At each end of the system, a cemented deadman should be in place. Run wires across the posts and anchor tautly to the deadman. When using a patio cover, no extra trellising needs to be in place. Simply run the plant up a corner post to the top and allow the plant to then form a spoke work of shoots which would resemble an umbrella.
Soils: Kiwifruit prefer somewhat acid (pH 5 - 6.5), well-drained soils that are rich in organic matter. The leaves may show nitrogen deficiency if the soil is too basic. The plants do not tolerate salty soils.
Irrigation: Kiwifruit plants need large volumes of water during the entire growing season but must also be in well-drained soils. Watering regularly in the heat of the summer is a must. Never allow a plant to undergo drought stress. Symptoms of drought stress are drooping leaves, browning of the leaves around the edges, and complete defoliation with regrowth of new shoots when the stress is continuous. More plants probably die from water related problems than any other reason.
Fertilization: Plants are heavy nitrogen feeders which should be applied in abundance during the first half of the growing season. Late season applications of nitrogen will enhance fruit size but are discouraged as the fruit then tends to store poorly. In basic soils, a citrus and avocado tree fertilizer should be broadcast about the vine and watered in well in early March. Follow up the initial fertilizing by supplemental additions to early summer. In other areas, use a high nitrogen fertilizer which contains trace elements unless it is known that the particular soil is deficient in another nutrient. Mulching with manures and/or straws is very beneficial. However, do not put the mulch directly in contact with the vine as crown rot will occur.
Pruning: For best fruit production, pruning in the winter is a must. All pruning techniques are usually based on a "cane replacement" and differ only based on the trellising method used. Kiwi vines need to be supported and this is usually done in one of three ways: single wire, 3-5 wire on a T-bar system, or onto a patio cover. In all cases, one stem is trained up to a wire at six feet and then allowed to grow along the wire. When growth ends in a "pig-tailing" of the shoot, it is cut behind the entanglement and new a shoot allowed to grow from a leaf base. After two years multiple shoots will now emerge from the lateral mainline. During the growing season, each lateral cane will send out a new shoot about 1/3 of the way from its own starting point. The next winter, prune off the older cane at the point that it connects with last summers new shoot. Repeat this every year.
Propagation: Seeds from store bought fruit may be planted in the spring. This should be done in a fine, somewhat sandy planter mix which is kept moist but not soaking wet. Seed germinates in 4 to 5 weeks. Plants raised this way will need to be grafted the following season to produce better, known sex, plants. Nursery bought plants are usually either grafted or cutting grown. Both types have their own attributes. One slight advantage of the cutting grown plants would be advantageous to growers in areas that experience winter freeze problems. If a plant is killed to the ground, a cutting grown plant that survives will regrow from the roots and thus maintain its known characteristics. Otherwise, either type is acceptable to backyard growers.
Pests and diseases: Kiwifruit plants are relatively free from problems, possibly due to their lack of heavy planting into areas so that pests begin to take a liking to the leaves, trunk, or roots. One odd problem is the fact that the trunks have a catnip-like aroma which cats love to rub against. When plants are small, this can be a problem as they can rub off any new shoots which emerge in the spring. Garden snails can also be a problem on younger plantings. Other pests include deer browsing on the leaves and gophers attacking the roots. Scale insects can also be a problem if populations build up too extensively. Where present, root-rot nematodes will reduce plant vigor.
Harvest: Ripening depends both on cultivar grown and local climatic conditions. Commercially, the fruit is harvested mature-ripe when its soluble sugars reach 6.5 brix on a refractometer. For the home grower it is best to wait for harvest until at least November 1, but November 15 would be preferable. Seed inside should be fully black by this time. If available, a specifically designed fruit ripening bowl can be used to quickly ripen a few fruit to see if the rest of the crop is ready to be picked. Once harvested, place the hard fruit into plastic bags and put into the refrigerator for keeping. When needed, the fruit can be taken out of the refrigerator and ripened on the counter for a few days in a plastic bag. Well stored fruit can last for several months. The long keeping qualities of the fruit made world wide shipment possible and heavy planting of the Hayward variety brought the fruit into recognition.
CULTIVARS
Females
By far, the best cultivar is the New Zealand Hayward. It is the standard grown by the world. However, it does require extensive winter chilling which may not be available to the plant in your area. For areas which test the cold limits of the plant, the Saanicheon (developed in British Columbia, Canada) is said to survive where Hayward has failed. For low winter chilling areas, the opposite problem is encountered. Tested cultivars that have proven to fruit well include Elmwood, Dexter, Abbott, Tewi, and Vincent, among others. For areas with the potential for early autumn freezes, perhaps the Blake, which can ripen up to 6 weeks ahead of the Hayward, would prove to be valuable. Other named New Zealand cultivars include Allison, Bruno, Gracie, and Monty.
A closely related species to the deliciosa, called Actinidia chinensis, has recently become available from China. They are virtually fuzz-free and some cultivars are pure yellow inside instead of the normal emerald green. Work to date show these to be quite fruitful in the low winter chill areas and are becoming a promising alternative. Maintenance and care would be the same for both species.
Males
Two basic New Zealand males are used. The Matua (father in the Maori language of New Zealand) is the most common in commercial orchards. It is a mid-season cultivar which begins a bit before the Hayward flowers and extends for several weeks. The other cultivar, Tomuri (late blooming in Maori), extends the male pollen season.
In California, one might encounter the Chico male which is quite acceptable. Other males which may be encountered are the M-Series from New Zealand and the CC Early Male. Specific growing sites might encourage one to plant a specific male due to the blossom timing of the females. Specific males are available for the chinensis species but males from either species will pollinize each other as long as their bloom periods coincide.
FURTHER READING
Morton, Julia F. Fruits of Warm Climates. Creative Resources Systems, Inc. 1987. pp. 293-299.
Ortho Books. All About Citrus and Subtropical Fruits. Chevron Chemical Co. 1985. pp. 51-55.
Reich, Lee. Uncommon Fruits Worthy of Attention. Addison-Wesley, 1991. pp 121-138.
See Index of CRFG Publications, 1969 - 1989 and annual indexes of Fruit Gardener for additional articles on the kiwifruit.
Wait a minute here. just getting caught up...but they have KIWI in South America??????. Anywhere close to Rio De Jameroe?? I want to hit a few of the beaches down there when if/this thing ever hits.
I thought KIWI came from Hawaii, but they have nice beaches as well, so Ill go there also. WWWWWWWWEEEEEEEEEEeeee
Trav.
PS, And the beaches in Mexico, and Figi, and Antartica.....
UK property investors shift B2bn in funds to Vietnam
Thai business climate poor for expansion
KANANA KATHARANGSIPORN
Two British investors have shifted to Vietnam two billion baht in property investment planned for Thailand due to the uncertain market caused by political tension, the Foreign Business Act (FBA) and a serious decline in consumer confidence. ''The FBA does not directly affect our [existing] business in Thailand, as our properties are actually owned in a Type II property fund which allows full foreign ownership,'' said Joel Feldman, one of the two investors.
''The only other effect that the FBA is having on our business is our expansion. Earlier, we wanted to build and expand our company but we're now putting future expansion on hold including the taking on of additional staff.''
Feldman: Thailand trails Asian trend
Mr Feldman and his partner previously planned to spend two billion baht on new property development and the acquisition of an old condominium for refurbishment.
But early this year, after the FBA announcement, they instead decided to invest in a property fund established in Europe and managed by Citicorp. The 10-year fund, with 10 institutional investors, already invested about 10 billion baht in commercial properties in Vietnam.
In 2005, the pair invested in the Lizmans Property Fund with registered capital of 500 million baht. The fund is now managed by Akando Co Ltd of which Mr Feldman is the managing director.
The fund's holdings include 225 units in the Family Park Condominium in Soi Lat Phrao 48, 20 units in the PST condominium in Rama III and 120 units in a condominium in the Intamara area.
Last year, Akando renovated the Family Park Condominium and put the units on sale with guaranteed rental returns.
''We are continuing to achieve sales [of Family Park] but at a slower rate than before, with 90 units remaining after the sales launch in September last year because of the uncertainty in the market,'' he said.
Akando plans to launch sales of another two projects next year after the general election takes place and an elected government is formed.
''Thailand's property market this year will face a small decrease. This likely goes against the trend in the Asian region as a whole. Thailand seems to be the only country that is not enjoying the benefits of a strong growing property market,'' said the 40-year-old investor.
''Once an election has taken place and if the right measures are put in place by the new government to encourage internal and external investors then we may see ... substantial increases next year, as the Thai property market will have a lot of catching up to do with its neighbours.''
UPDATE 1-FTSE-Citigroup launches Vietnam equity index
Tue May 22, 2007 3:52AM EDT
HONG KONG, May 22 (Reuters) - Citigroup (C.N: Quote, Profile, Research and index provider FTSE Group have jointly developed and launched a Vietnam equity index, tapping burgeoning interest in the country's fast-growing economy and stock market.
"We have had enormous investor demand for a Vietnam benchmark that is liquid and reflects the restrictions on foreign investment. The index that we have created with FTSE is the first to meet both of the objectives," said Justin Kennedy, managing director of Citigroup Global Markets Asia.
The index, called FTSE Vietnam Accessible Index, targets foreign institutional investors and includes shares such as dairy product maker Vinamilk (VNM.HM: Quote, Profile, Research, the Corporation for Financing and Promoting Technology (FPT.HM: Quote, Profile, Research, Pha Lai Thermal Power Co. (PPC.HM: Quote, Profile, Research and Vinh Son-Song Hinh Hydropower (VSH.HM: Quote, Profile, Research.
Reuters Pictures
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"We've created an 11-stock index constituting large stocks in the Ho Chi Minh index, which are investible by foreigners," Krishna Guha, Citi's equity derivative strategist, told Reuters.
"The index represents approximately 61 percent of the performance of the broader market. The Ho Chi Minh index is skewed towards larger stocks with the top 11 stocks accounting for approximately 75 percent of the index."
The index will be rebalanced each month to take into account frequent initial public offerings, Guha said, adding that Citi was planning an exchange traded fund based on the index.
Vietnam's main stock market index (.VNI: Quote, Profile, Research, with 107 listings, has risen about 47 percent so far this year after a 144.5 percent surge last year. That compares with gains of about 12 percent for MSCI's measure of Asia Pacific stocks excluding Japan (.MSCIAPJ: Quote, Profile, Research this year.
Foreign investors had poured between $3 billion and $4 billion into Vietnam's stock market this year through March, the finance ministry estimated, and investment could rise to $5.5 billion by year-end, the central bank has forecast. Continued...
....To be sure, the market, which has been trading for less than seven years, is tiny compared with other emerging markets in the region.
The Ho Chi Minh Stock Exchange, which was renamed by the government this month from the Ho Chi Minh City Securities Trading Center, has a market capitalisation of about US$15 billion.
This compared with US$153 billion for Indonesia's Jakarta Stock Exchange and US$79 billion for the Philippine Stock Exchange, April data from the World Federation of Exchanges showed.
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http://www.reuters.com/article/fundsFundsNews/idUSHKG34866920070522?pageNumber=2
Oops, you already have it posted. My bad.
Trav.
PS, That'll teach me to post on my lunch break. lmao.
Announcement No.(930)
D.G. of Foreign Exchange Control
The 930 daily currency auction was held in the Central Bank of Iraq day Wednesday 2007/5/23 so the results were as follows :
Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1259 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 69.415.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 69.415.000 -----
Total offers for selling (US $) ------ -----
Announcement No.(929)
D.G. of Foreign Exchange Control
The 929 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/5/22 so the results were as follows :
Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1260 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 42.600.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 42.600.000 -----
Total offers for selling (US $) ------ -----
OOC, Petro-Vietnam sign MoU for cooperation in oil and gas
ONA
Sunday, May 20, 2007 12:39:44 AM Oman Time
HANOI — Oman Oil Company (OOC) signed an MoU with Petro-Vietnam, the oil and gas group company in Vietnam, here yesterday for cooperation in oil and gas. Maqbool bin Ali Sultan, minister of commerce and industry and OOC chairman, signed on behalf of OOC while Dr Crown K., chairman of Petro-Vietnam, signed on behalf of his company.
After the signing ceremony, Maqbool told ONA that the MoU with Petro-Vietnam came within OOC’s strive to increase and expand its investments base in oil and gas.
The MoU includes joint cooperation in oil and gas fields and projects associated with production and refining operation, cooperation in exchanging of expertise and joint investment, he said.
Petro-Vietnam is a company owned by the Vietnam government, which operates in oil and gas exploration, oil refineries and associated petrochemicals, industries. Vietnam’s production of crude oil is estimated at 350,000 barrel per day.
It owns a gas reserve to the tune of 70 trillion cubic feet.
I am keeping a close eye on the ISX. This is all just getting started IMHO.
Trav.
I bought some months ago, and I have Zero complaints about this investment.
Not sure If I will add more to my possition. Im pretty happy already, now if some of the Pinkies could start doing what the Dinar has done this year.
Nope, I have no idea if/when this thing could/will/might/might not pop. But so far............WWWEEEEEEEEEEEEEEEEEEEEEEE. lol.
Trav.
Japanese investors flock to Vietnam
Reuters
Published: 12/05/2007 12:00 AM (UAE)
Hanoi, Tokyo: Tada-yoshi Okimoto, an auto company executive from southern Japan, rubs shoulders with dozens of Vietnamese at a brokerage in Ho Chi Minh City, excited to get a piece of Vietnam's fledgling stock market.
Okimoto is on a tour to Vietnam's budding financial centre organised by a Japanese travel agency that brings Japanese retail investors to Vietnam to open share trading accounts. The tour is so popular with Japanese wanting to take advantage of a burgeoning stock market that it runs almost every working day.
"In many countries, the stock market is mature and goes up and down a lot. But in Vietnam, the stock is very new so the chart is going up all the time. In two or three years' time, we will receive a lot of money from our investment," Okimoto said.
Driven by low interest rates at home, Japanese investors are eyeing Vietnam, a communist-ruled country experiencing fast economic growth after starting gradual economic reforms in 1986, as an alternative to China and India.
The crowd at BIDV Securities Company (BSC) is mixed: there are men and women, the well-dressed and the shabby. The place is so full people are sitting on the floor, all eyes on the three massive screens displaying stock information.
Helping hand
To help people like Okimoto, forms are printed in Japanese and clerks speak fluent Japanese, explaining the rules of the stock market. It even operates a Jap-anese website for investors from Japan, with a $180 annual fee.
In two months' time, when officials in Hanoi have processed the application, he will receive security passcodes allowing him to start investing.
"Vietnam's economic situation is similar to China, where a communist country opens up its financial markets and tries to beef up the capital markets by joining the WTO," said Kazuo Murakami, a spokesman for Japan's Aizawa Securities Co Ltd, which sells a Vietnam fund. "It's natural for Japanese investors to apply sharp rises in Chinese stocks to Vietnamese shares."
Japanese investors are estimated to represent about five per cent of the Vietnam's 2.5-trillion yen stock markets. Foreign investors account for 20 to 30 per cent.
The flood of foreign money has helped Vietnam's main share index jump nearly 145 per cent last year and 23 per cent this year so far.
But not everything is rosy for investors.
The market is still small and the market infrastructure is in its infancy, especially the unregulated over-the-counter market, where investors may find the best bargains.
Things may change, however, as the Vietnam government has tried to rein in the unregulated market, asking companies that have sold shares on the grey market to register with regulators.
"(OTC shares) will be accessible for foreigners" after these steps, said Paul Nguyen, a director of Ho Chi Minh City-based Vinchi Capital Management which is trying to set up a Vietnam fund there.
Capital Partners Securities Co Ltd, the first Japanese broker to sell a Vietnam fund, said its clients are looking for emerging-market companies for long-term investments for retirement. "We are thinking of Kazakhstan next as we have received a lot of inquires," said Katsuyuki Ueoka, deputy vice-president, Capital Partners' product division.
Vietnam: WTO benefits emerge but potential not fulfilled
Since its admission to the World Trade Organization in January, Vietnam has seen foreign investment increase and commodity prices drop, but imports still heavily out-value exports.
Regarding the country’s economic growth in the past four months, former deputy Prime Minister Vu Khoan said, “It’s too early to fully evaluate the impacts of Vietnam’s commitments to the World Trade Organization (WTO), but we can say that the country has gained some forward momentum, though not in all arenas.”
Many experts said the most easily recognizable and active indicator of WTO-era Vietnam was the sharp increase of foreign direct investment (FDI).
The country attracted nearly US$3.52 billion in FDI over the first four months, up 54.6 percent year-on-year. In addition, a series of mega projects worth more than $35 billion are awaiting licenses.
Since early this month, many foreign business missions have arrived in Vietnam seeking business and investment opportunities, including a delegation of 18 leading US companies that plan to invest a total of $1 billion here.
Ex-deputy PM Khoan attributed this promising result to the country’s admission to the WTO, which has helped Vietnam improve its legal system and win the confidence of foreign investors.
Deputy Trade Minister Luong Van Tu said Vietnam was currently considered as a “rising star” in Asia. “If Vietnam can take full advantage of the opportunities brought from WTO, the FDI flow to the country this year may be higher than the targeted $12 billion.”
Furthermore, he added that WTO admission could help the country realize its aim of gaining $100 billion in export revenue by 2010.
Lower prices
The price of many imported commodities have decreased slightly recently. At Co.opMart, the largest supermarket chain in Vietnam, the prices of some foreign imported items like candies, cookies, cosmetics, household products, clothes and children’s products are currently down by 10 to 15 percent from late March.
In many other supermarkets, the prices of many imported commodities have also dropped by 10 to 20 percent.
Nguyen Thi Tranh, Saigon Co.op deputy director, said imported goods currently account for some 30 percent of the 20,000 items on sale at Co.opMart. Nearly half of these are sold with prices 10-15 percent lower than pre-WTO, but they are still not as low as they need to be in line with WTO commitments.
Tranh explained that high transportation costs were keeping the prices too high.
Other retailers have explained that it is not just the cut in tariffs associated with the WTO that has dropped prices. They said that better business strategies like finding better supplies, new storage units and improving payment methods have also helped Vietnamese retailers reduce their prices.
Trade deficit
Though Vietnam exports in the first four months of the year increased 22 percent year-on-year, the results did not meet the potential of WTO-era Vietnam, said the Ministry of Trade at a meeting in Hanoi May 7 to review Vietnam’s import-export activities.
The country’s spending on imported goods in the first quarter was up 33.6 percent year-on-year to nearly $11.8 billion, resulting in a Q1 trade deficit of $1.32 billion, 28 percent of the country’s total figure in 2006.
An economic expert told the meeting that only a short time after becoming a WTO member, Vietnam saw a 50 percent year-on-year rise in import spending but only an 18 percent increase in exports.
The Trade Ministry explained that the lack of equipment and machinery was blame to the trade deficit in the first quarter. For instance, the country imported $899 million worth of equipment, including three A321 aircraft worth $306 million, accounting for 30 percent of the total Q1 spending of $2.97 billion.
In the year’s first two months, the country spent $200 million than during the same period last year, mainly due to industrial material price hikes.
The ministry stressed this year’s trade deficit would be regulated in the scope of some $5.2 billion, down 1.58 percent from last year’s.
Source: thanhniennews.com
.....watching the DONG for its REVAl!
Next....................
Trav.
Oil goes missing in Iraq
Iraq: 7 hours, 36 minutes ago
As much as $15m worth of oil goes missing every day in Iraq according to the AFP citing the New York Times. The newspaper, referring to a US government report, said the amounts correspond to up to 300,000 barrels per day of Iraq's declared oil production over the past four years. It is thought corruption, smuggling and insurgents are all to blame for the disappearance.
Iraqi Officials Discourage U.S. Pullout
Associated Press | May 12, 2007
WASHINGTON - Worried Congress' support for Iraq is deteriorating rapidly, Baghdad dispatched senior officials to Capitol Hill this week to warn members one-on-one that pulling out U.S. troops would have disastrous consequences.
The lobbying push targeted Republicans and Democrats alike, but focused primarily on those considered influential on the war debate. On Thursday, hours before the House voted to limit funds for the war, Iraqi Deputy Prime Minister Barham Saleh met with more than 30 House Republicans and more than a half-dozen senators, including Sens. Harry Reid, D-Nev., John Warner, R-Va., and Hillary Rodham Clinton, D-N.Y.
"He understands that American patience is waning," said Sen. Norm Coleman, after eating lunch with Saleh, Iraqi Ambassador Samir Shakir al-Sumaidaie and Sen. Saxby Chambliss.
But the lobbying by the Iraqis isn't the only pressure-point being applied in Washington.
Clinton said Friday she considered it "promising" that several Republican House members went to the White House and told President Bush they believe the continuing war is adversely affecting the party.
She said the GOP lawmakers told Bush pointblank that "he has to change course in Iraq." But she also said she didn't think that Bush was ready to reverse course.
"I think we're going to go back and forth on this for a while longer," Clinton said in an interview Friday on MSNBC's "Morning Joe" program with Joe Scarborough.
"It is clear that whatever the mission used to be, it is either accomplished or over," she said. "If there are remaining American interests, then let's spell them out."
Baghdad's ability to sell members like Coleman, R-Minn., and Chambliss, R-Ga., on the war effort is critical if the Iraqi government wants U.S. troops to stay. Coleman in recent months has become deeply skeptical of the president's decision to send additional troops to Iraq and says patience on the war in general is limited.
Coleman, Chambliss and Sen. John Sununu, R-N.H., who met separately with Saleh, will be up for re-election next year - facing voters who have grown tired of a war in its fifth year and that has killed more than 3,380 troops. While Republicans have been reluctant to intervene, many say President Bush has until September to tell if the troop buildup in Iraq is working before they demand another approach.
With the clock ticking, Saleh - a Kurdish politician highly regarded by U.S. officials and who speaks impeccable English - said he came to Capitol Hill to convey the "imperative of success" in Iraq.
"Iraq is a central battleground in this historic conflict" against terrorism, he said in a brief interview after meeting with Reid, the Senate majority leader.
His trip came on the heels of a visit by Mowaffak al-Rubaie, the national security adviser to Iraqi Prime Minister Nouri al-Maliki, along with three other senior advisers, according to the Iraqi embassy. The New York Times first reported al-Rubaie's visit on Tuesday.
The timing of these meetings is no mistake. This month, Congress is expected to send Bush legislation that funds the war in Iraq but requires the Baghdad government meet certain political and security reforms. In question is what consequences the Iraqis should face if they fail. Democrats want U.S. troops to leave, Republicans say they don't want to force redeployments, but some say they would be open to withholding more than $5 billion in foreign aid.
The House voted 221-205 Thursday for a stronger measure that would fund the war only through July, giving Congress the option of cutting off money after that. The bill is unlikely to survive in the Senate, although it indicates the war's unpopularity among members and their frustration with the lack of progress in the Iraqi parliament.
The most recent irritant among U.S. lawmakers was a report that Iraqi officials would break for two months this summer.
"Our armed forces are up to 150,000 troops; we're over $600 billion appropriated for this, lost 3,300 lives, 25,000 wounded fellow citizens. ... And the Iraqi answer? We're taking a summer off. Goin' fishing," said Rep. Rahm Emanuel, D-Ill.
Saleh said he expects the vacation to be shortened by at least a month, although nothing had been decided. He added that Iraqis value being independent and do "not take kindly of (U.S. officials) telling us when to recess."
Democrats seemed to consider these meetings with Iraqi officials as beneficial - if only to convey their frustration to Iraqi officials in person.
Reid's spokesman Jim Manley said the senator told Saleh that "U.S. patience, blood and treasure were not unlimited and that the Congress would be taking a more decisive role in the coming weeks and months."
"Salih understood the point, and said he would deliver the message to the Iraqi cabinet," Manley added.
Sound Off...What do you think? Join the discussion.
http://www.military.com/NewsContent/0,13319,135599,00.html?ESRC=iraq.RSS
I was going to make a DONG pizza, but it just sounded wrong. lol.
Have a great weekend.
Trav.
ROTFLMFAO.
I havent found the ball yet.
I'll keep trying.
Trav.
Yes you do. Its a Premium Board.
"The board on which you tried to post is only accessible with a Premium Subscription!"
Trav.
OT/ Dinar Pizza.
Odiaz showed me how to post photos, so were all in trouble now. LMAO.
Trav.
State Oil Company of Azerbaijan
From Wikipedia, the free encyclopedia
Jump to: navigation, search
The State Oil Company of Azerbaijan (SOCAR) and its many subsidiaries are responsible for the production of oil and natural gas in Azerbaijan, for operation of the country's two refineries, for running the country's pipeline system, and for managing the country's oil and natural gas imports and exports. While government ministries handle exploration and production agreements with foreign companies, SOCAR is party to all of the international consortia developing new oil and gas projects in Azerbaijan.
The company was established in September 1992 with the merger of Azerbaijan's two state oil companies, Azerineft and Azneftkimiya.
In 1994 the company signed the "Contract of the Century" related to extraction of oil from the Caspian Sea. SOCAR has a 25% stake in the Baku-Tbilisi-Ceyhan pipeline.
Appointed to head SOCAR in January 2006 was Rovnag Abdullayev, former head of the Baku Oil Refinery and a member of the newly elected Azerbaijani parliament. He replaced veteran SOCAR head Natig Aliyev, who had been named Azerbaijan's Minister of Industry and Energy.
In 2005 SOCAR produced above 14 million tones of oil (150,000 bbls/d), mostly from Shallow Water Guneshli field.
SWWWWWEEEEEEEEEEEEEEEEEEEETTTTT.
I had an "S" in there with Chart so had to chaet and look at yours that is posted up above.......
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE.
Thanks Bud.
Trav.
Thank you. I will give that a try.
Trav.
Resource Directory
Rovnag Abdullayev
President
73 Neftchilar Avenue, Baku.
Tel: (994-12) 493-2312, 492-0745
Fax: (994-12) 493-6492
SOCAR is the government-owned entity responsible for all aspects of exploration and development related to oil and gas fields both onshore and offshore for the Republic of Azerbaijan. One of the largest companies in the world, it employs 70,000 people. Since 1994, SOCAR has signed 25 major production sharing agreements (PSAs) with consortiums of foreign oil companies, plus two major pipeline agreements-BTC (Baku-Tbilisi-Ceyhan) and SCP (Southern Caucasus Pipeline).
(1) AIOC
(2) CIPCO (closed)
(3) Shah Daniz (BP Exploration-operator)
(4) NAOC (closed)
(5) Lankaran-Talysh (TotalFinaElf-operator)
(6) Yalama (LUKARCO operator)
(7) Absheron (Chevron)
(8) Oghuz (ExxonMobil)
(9) Nakhchivan (ExxonMobil)
(10) Kurdashi (Agip Eni-operator)
(11) Gobustan (Commonwealth-operator)
(12) Inam (BP Amoco operator)
(13) Alov (BP Amoco operator)
(14) Muradkhanli (Ramco)
(15) Kursangi (Frontera Resources)
(16) Yanan Tava (JAPEX operator)
(17) Zafar-Mashal (ExxonMobil operator)
(18) Lerik (ExxonMobil)
(19) Padar (Moncrief)
(20) Zigh-Hovsan (LUKOIL)
(21) Kalamaddin-Mishovdagh
Back to International Business
I need to figure out how to post photos. Photobucket isnt takeing to well to the main page with maps or images.
Trav.
" target="_blank">http://i6.photobucket.com/albums/y232/Zoinkers/azerbaijan_sm001.gif[/IMG]
http://i6.photobucket.com/albums/y232/Zoinkers/azerbaijan_sm001.gif
VN ‘open’ for US, Canada business
(10-05-2007)
HA NOI — The Government will create favourable conditions to help US and Canadian businesses invest in Viet Nam, Prime Minister Nguyen Tan Dung said at a meeting with corporate officials in Ha Noi yesterday.
At the meeting, the Dung asked the corporations to work with ministries, industries, cities and provinces to explore investment opportunities.
Dung said Viet Nam’s Government had always encouraged US and Canadian businesses and investors to come to Viet Nam to study, co-operate, and invest long term in the country. He also encouraged them to invest in the Hoa Lac hi-tech zone.
Dung said he was pleased with the developing relations between Viet Nam, the US and Canada.
Bilateral trade between Viet Nam and the US and Canada reached more than US$11 billion last year. US and Canadian businesses have invested more than $1 billion in Viet Nam.
Dung told US and Canadian businesses and investors "Viet Nam is a nation with a market-oriented economy". "With stable politics, Viet Nam has signed bilateral co-operation agreements with many countries in the world. The country has become a destination for many international investors in high technology, finance, and tourism," he said.
The PM was told that the corporations will study investment opportunities in telecommunications, roads and bridge building, hotels, resorts, financial services and on-line games. They said they also wanted to invest in the Hoa Lac hi-tech zone.
These corporations said they intended to invest about $2 billion in Viet Nam. — VNS
--------------------------------------------------------------------------------
Congrads Bro. Two thumbs up for ya.
Trav.
Ahhhh, this was to Rick C. For his promotion. Excellent pick there RJ.
Trav.
I cannot MOD here, thats only on the Proboards. LOL.
I will go bann myself from the boards for a nice little vacaton so I can spend more time here. WEEEEEEE.
Trav.
3.44 9/10th now. lol.
Thats at 7/11, I put 20 bucks in the Tahoe - hoe and got about a 5th of a tank. Maybe Ill just start tradeing my pay checks straight across for a tank of gas.
Trav.
Wednesday, May 9, 2007
1 Vietnamese Dong = 0.00006483 US Dollar
1 US Dollar (USD) = 15'424.0 Vietnamese Dong (VND)
Median price = 0.00005996 / 0.00006483 (bid/ask)
Minimum price = 0.00005996 / 0.00006483
Maximum price = 0.00005996 / 0.00006483
FXTrade: Online Currency Trading with OANDA FXTrade.
FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2007 by OANDA.com.
Agreed. I use the banks as much as possible. Lasst quote to me from Wells Fargo was 72.88 per mill on the 7th just 2 days ago. It might take 4 days to get them in to me, but well worth the saveings. I can buy more from the saveing that I get as opposed to going through a currency dealer.
Trav.
I need it to hold off for a few more weeks. lol.
A few more DONG couldnt hurt any. Little by little I continue to fortify my position.
Till......POP. lol.
Trav.
Thanks for the compliments, its a pleasure to be a part of all of this that is happening right before our eyes.
Dong, DINAR, MANAT, Rial, the list is long. Damn it all looks good. Makes it allot of fun to be in. And the DD rather enjoyable.
Thanks again guys.
Trav.
Couple posting are a couple days old.....did not see them posted, and iHub has been down for me off and on the last couple days.
Trav.
Maybe I can say couple a couple more times. :p :) ;)
Prudential funds to target Vietnam, infrastructure
UK insurer Prudential aims to launch two new Vietnam funds and an Asian infrastructure fund before July, a senior executive with its asset management arm in Asia said Monday.
The Vietnam funds would include one focused on private equity, which the firm hopes will start with at least US$50 million in assets, said Guy Strapp, regional head of investment management in Asia for Prudential Asset Management.
"There's two [Vietnam] funds that we're looking to do. One would be private equity only. And one would be a mix, like the one we launched last year," he said.
The asset management arm of Britain's second-largest listed insurer raised US$282.6 million last year with the November launch of its Vietnam Segregated Portfolio fund. The fund includes a combination of public and private equity, as well as fixed income.
With one of the region's fastest-growing economies, Vietnam has become wildly popular with investors. The country's main stock index rose almost 145 percent last year and is up more than 30 percent since the end of 2006.
A Vietnam-focused fund launched in November by JF Asset Management for Hong Kong investors was fully subscribed on its first day, raising almost US$50 million.
Prudential is also looking to launch a fund investing in infrastructure-related stocks in Asian markets outside of Japan. The fund would use an open-ended structure which would allow it to be sold in a range of markets.
"We don't like doing really any of these funds with less than US$100 million. That doesn't mean you have to have US$100 million at launch. But you want to have expectations of growing to that," he said.
Strapp said that while Vietnam has been a particularly popular theme with retail investors in Japan and South Korea, the firm takes a longer-term view when launching its products.
"When we do these themes we try not to have them so topical that they're in favor today, and out of favor tomorrow," he said.
"When we do something like an infrastructure fund, we do it on that basis that there are very sound macro factors and its a sustainable investment opportunity."
Prudential, which started its funds business in Asia in 1998, now operates in 10 markets in the region.
The Asian fund operation's 29.2 billion in assets at the end of last year made it one of the region's largest fund managers. About 43 percent came from retail investors, with the remainder from institutions and Prudential's own insurance operations.
Strapp said the group is also looking to tap the region's pool of experienced emerging market fund managers by building a small team to run a portfolio of Latin American equities from Singapore. Prudential is also looking at expanding its private equity investment beyond Vietnam.
Source: Reuters
Gerber Technology opens headquarters in Vietnam
US-based Gerber Technology has established a wholly-foreign-owned enterprise in Vietnam’s Hanoi capital, strengthening its ability to deliver service and support to customers in the fast-growing Asian market.
The world’s leading provider of integrated computer hardware and software systems for the apparel industry said in a press release Wednesday it also plans to open a service location in Da Nang and a branch office in Ho Chi Minh City, two Vietnamese metro cities.
The branch office will include an Advanced Technology Center equipped with Gerber’s computer-aided design systems with plotters as well as its multi-ply cutting systems and automated spreading systems.
As the first of its kind in Southeast Asia, the center will serve as a facility for product demonstration, system testing and training for the center’s customers, engineers and students.
Gerber Technology also will offer service to apparel and related industrial companies in Cambodia, Laos and Thailand.
“There is a tremendous opportunity for companies in Vietnam to improve quality and expand their production capabilities by investing more in automation,” said James S. Arthurs, president, Asia-Pacific, Gerber Scientific Inc.
He said Gerber already had over 150 customers using more than 500 systems in Vietnam through the firm’s distributor, Schmidt Vietnam Co. Ltd., since 1994.
“And we are delighted that the management and staff responsible for our operations for the last 12 to 13 years have agreed to join Gerber. This will ensure the continuity of our customer relationships,” Arthurs also said
Source: TextileWorld.com
ASEAN recognizes Vietnam's full market economy status
The Association of Southeast Asian Nations (ASEAN) has recognized Vietnam’s status as a full market economy and called on its partners and other countries to follow the move.
The announcement was made Thursday at the 13th ASEAN Economic Ministers Retreat Meeting in Brunei.
The grouping thus committed not to apply Paragraph 255 of the Report of the World Trade Organization’s Working Party on the Accession of Vietnam. The paragraph relates to determining price comparability in anti-dumping proceedings involving exports from Vietnam.
Speaking at the meeting and a press conference later, Trade Minister Truong Dinh Tuyen thanked other ASEAN country members for their support for Vietnam.
He reiterated Vietnam’s determination to continue its comprehensive reforms in the context of the country’s accession to the World Trade Organization and its pro-active integration in the regional and global economy.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines and Vietnam.
Under the bilateral agreement between Vietnam and the US, the US will treat Vietnam as a full-market economy 12 years after Vietnam becomes a WTO member.
Vietnam and the EU held last month the first working group meeting on criteria of market economy status.
Reported by Xuan Danh – Translated by The Vinh
Vietnam′s economy soars as capital inflow surges
Almost 20 years after abandoning its collectivist economic strategy to implement market-based reforms, Vietnam has become one of the best-performing developing economies in the world with an annual growth of 7 to 8 percent over the past eight years. Although not a complete picture of success - as it is still a poor country with a per capita income of US$700 - Vietnam has, to some extent, achieved economic development. Vietnam's economy is on a roll and the outlook is quite promising.
It is amazing to see how a country ravaged by war for decades has been able to catch up so fast. Vietnam has now become one of Asia's most open economies, with two-way trade totaling US$85 billion last year and accounting for more than 60 percent of its economy. Vietnam is now the world's biggest pepper exporter, second largest rice exporter after Thailand and a leading exporter of coffee, tea and shrimp.
Remarkably, Vietnam's high economic growth has not impacted on income inequality. The poverty rate has decreased from 60 percent in 1990 to around 15 percent. More than 90 percent of rural households now have electricity. Where did Vietnam go right and where does Indonesia lag?
Foreign analysts, investors, businesspeople and Vietnam's senior officials, who declared Vietnam an economic success story at an international seminar last week, gave credit to consistent reform, strong government leadership and industrious citizens with great entrepreneurial spirit as the key factors. Strong leadership succeeded in reducing animosity toward the United States, an enemy until the war ended in 1975; the French, the country's former colonialists; and China.
"This is by no means a small achievement, because almost every family has had a relative killed in the war. However, we decided to bury hatred in the past and turn our attention and energy to providing employment and creating prosperity," said Dao Duy Chu, senior economist and former chief executive officer of state-owned PetroVietnam. Vietnam watches China carefully to learn from its neighbor's mistakes. Duy focussed particularly on income inequality between people in rural and urban areas.
Vietnam has not been suspicious of the Washington-based World Bank and International Monetary Fund, even though many other developing countries consider these an extension of U.S. foreign policy. Vietnam rejoined both institutions in 1993 and has since benefited greatly from intensive policy discussions with seasoned economists and technical assistants.
Even though Vietnam has never been heavily dependent on foreign aid (it accounts for less than 15 percent of public-sector spending), 30 donors are now actively engaged in extensive policy reform under the coordination of the World Bank. Like many other developing countries, reform in Vietnam initially occurred in a haphazard manner, but as success eventually bred success, confidence rose and encouraged even bolder reforms.
An egalitarian redistribution of farmland early on, coupled with free trade in agricultural products and better agricultural support services at the local level, led to a boom in exports and a dramatic reduction in rural poverty. "I think reform (doi moi) in Vietnam was successful because it started in the agricultural sector and created a basis for a stronger national market," said Pietro P. Masina, a senior economist from the University of Naples, who has long studied Vietnam's development strategies.
The egalitarian redistribution of land to rural households allowed for a strong recovery of the agriculture sector, which became a safety net for many people when the economic crisis hit East Asia in 1997, Masina said. Foreign investment grew as domestic entrepreneurial spirit was unleashed. Urban residents moved into paid employment, further reducing the number of rural poor and spurting economic expansion.
Vietnam permitted 7,067 foreign direct-investment projects worth US$63.55 billion between 1988 and March, 2007, according to the ministry of planning and investment. "In the last five years our National Assembly enacted 84 laws, 60 of which are related to rules of the game in a market-based economy," said Vu Khoan, representing the prime minister.
Included among the new laws are the unified Investment Law, which provides equal status to both domestic and foreign investors, and legislation regarding the securities market, real estate market, credit organizations, science and technology transfer from foreign to domestic companies.
Vietnam avoided the economic crisis of 1997-1998 that devastated other Asian economies, including Indonesia. Vietnam's economic growth rate has exceeded 8 percent in the last two years and the government has increased reforms, now aiming for middle-income country status by 2010.
Vietnam's communist regime has another track record to be proud of. While Indonesia's reform of its state enterprises has been bogged down in narrow-minded nationalist sentiments and vested-interest capitalists, Vietnam has recorded impressive progress in the reform and privatization of state companies.
Figures presented at the seminar showed that state companies have performed reasonably well over the past few years, with more than 75 percent profiting with rates of return on equity (ROA) of 7-8 percent a year. ROA of most state companies in Indonesia, a market economy, was only between 2 and 4 percent over the same period.
Massive privatization halved the number of state firms to around 3,000 over the past five years. "We will privatize 600 more state companies this year, including those operating in power, post, telecommunications, aviation, maritime, oil and gas, finance, insurance and banking," said Deputy Minister of Planning and Investment Nguyen Bich Dat.
Privatization has created space for the expansion of private firms. As the private sector expands rapidly, both domestic and foreign-invested firms have connected well with global markets. Private firms now contribute 65 percent of manufactured products and over 70 percent of non-oil exports. Vietnam is progressively becoming an integral link in international production and distribution chains.
Vietnam's geographical location is also a great advantage. Vietnam is strategically located in the Greater Mekong Sub-region (GMS), comprising Cambodia, Laos, Myanmar, Thailand and two provinces of southern China. Vietnam will play a major role as a regional economic hub.
The tremendous growth of tens of thousands of family firms, resulting from a bold government move in 2001 to ease restrictions on small businesses, is quite impressive. Vietnam's accession to the World Trade Organization (WTO) in January has exposed its agriculture sector and companies to new competition and will accelerate the modernization of the legal system..
Vietnam should be proud of the high-quality, egalitarian growth that has been the key to maintaining social cohesion. The biggest challenge facing the ruling communists is how to continue delivering jobs, public services and prosperity. Official statistics show that one million young Vietnamese join the labor force each year and another one million rural people migrate to the cities annually.
"Social cohesion will continue as long as the economy expands steadily with an equitable distribution of income," noted Nguyen Van Tan, chief executive officer of T&T, a service and consulting company. Moreover, Tan added, the Communist Party will continue to gain respect from the people because it has ruled the Vietnam since 1930 and successfully led its citizens through a succession of wars against foreign colonialists.
But as Vietnam's economy becomes more sophisticated, new challenges emerge and the need arises for better feedback mechanisms from its citizens on the quality of public policy and higher standards of transparency and accountability. Like China and India, Vietnam has benefited enormously from the return of citizens who had fled the country. Thousands of Vietnamese have returned from overseas after learning English, gaining entrepreneurial experience and acquiring technical skills.
However, as the Vietnamese enjoy more economic freedom and as more of their countrymen and women return, bringing foreign ideas of pluralism and free speech, expectations of political liberty and free expression of opinion will grow. The Vietnamese government appears to realize the challenges and consequences of this economic development.
"Many issues, such as the inadequate and inconsistent legal system, complex administrative procedures, overlapping departments and ambiguous responsibilities of state institutions and incompetent and corrupt civil servants have yet to be resolved," Khoan said.
A businessman from Europe expressed great concern, particularly over high-level corruption related to big government projects or business deals with state companies but "they are taking serious steps to tackle this problem."
The businessman, who insisted on anonymity, welcomed a government decision to gradually open a mechanism for expressing grievances. "The government has previously allowed street protest demonstrations, though only a very small number of people joined," he said.
Source: thejakartapost.com