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JAKARTA: Indonesian President Susilo Bambang Yudhoyono Monday named the country's investment chief as the new finance minister, putting him in charge of Southeast Asia's top economy at a time of major challenges.Chatib Basri, who is taking on the role ahead of elections in 2014, replaces Hatta Rajasa, who was stand-in finance minister for a few weeks after the previous incumbent left amid growing complaints about his reformist agenda.The 47-year-old takes up the job as economic growth slows, the rupiah remains weak, the current account deficit widens, and the government is poised to take the politically sensitive step of hiking fuel prices.Announcing Basri's appointment, Yudhoyono praised him as a "distinguished economist" whose time at the helm of the country's investment board coincided with a surge of foreign money into Indonesia."Investment was the main support for the economy and remained relatively high as the world stayed in recession," he said.Foreign companies have ...
GAZIPUR: A Bangladesh factory where Wal-Mart Stores Inc and Inditex SA inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world's largest apparel maker, US-based VF Corp.VF confirmed on Saturday it was still using Liz Apparels to make its clothing following an inspection ordered by the factory owner, Nassa Group, on May 12. VF, whose other clothing brands include North Face, Timberland and Nautica, said its philosophy was to ...
NEW DELHI: Indian Prime Minister Manmohan Singh said on Monday he had agreed with his Chinese counterpart to make a new push to settle a long-running border row, pledging his commitment to "peace and tranquillity"."We agreed that our special representatives will meet soon to continue discussions seeking an early agreement on a framework for a fair, reasonable and mutually acceptable boundary settlement," Singh said after talks in New Delhi with Li Keqiang."Peace and tranquillity on ...
BAGHDAD: A series of car bombs in Baghdad and the southern Iraqi port city of Basra killed at least 12 people on Monday, security and medical officials said.Five car bombs exploded in the Iraqi capital, while two detonated in Basra, officials said.Copyright AFP (Agence France-Presse), 2013 
BANGKOK: Thailand's economy shrank 2.2 percent in the three months to March from the previous quarter -- the first contraction in more than a year -- as manufacturing output fell, official data showed Monday.The decline followed a blistering year-long recovery from devastating floods in late 2011 that hit major factories north of the capital Bangkok and caused a double-digit drop in gross domestic product (GDP).On a year-on-year basis, GDP expanded by 5.3 percent in the ...
TAIPEI: A Taiwanese fighter jet ploughed into the sea off the island's north coast on Monday, the air force's second crash in less than a week, military officials said.The crash happened when the French-made Mirage 2000-5 fighter was conducting a regular training mission, the air force said, adding that both crew managed to parachute to safety.The cause of the incident was under investigation, it said.A single-seater F-16 went down off central Taiwan on Wednesday last ...
NEW DELHI: Chinese Premier Li Keqiang pledged Monday to build trust with India and declared that ties between the Asian giants were key to world peace as he visited New Delhi only weeks after a border spat.Speaking alongside his counterpart Manmohan Singh, Li said China wanted to increase cooperation with India, saying his choice of destination for his first foreign visit showed the importance that Beijing attached to ties with Delhi."The purpose of my current ...More Articles...
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