Southeast Asia News
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Indonesia’s rupiah dropped for a second day and bonds fell on concern the government’s plan to reduce fuel subsidies will re-ignite inflation in Southeast Asia’s biggest economy.
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OAO Severstal, Russia’s second- largest steel producer, is among four companies planning mines and a state-backed railroad in the Siberian region of Tyva that would double the country’s metallurgical coal exports by 2020.
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Indonesia’s inflation slowed for a sixth straight month in February, supporting the central bank’s decision to ease monetary policy even as a government plan to raise fuel prices threatens to revive cost pressures.
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Japan, the world’s biggest importer of liquefied natural gas, is in talks to start shipping the fuel from the continental U.S. after the Fukushima disaster last year shut most of the country’s nuclear power plants.
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Anand Balasubrahmanyan, who headed Carlyle Group LP’s Southeaset Asia buyout business, left at the end of February after more than four years at the Washington- based company.
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Thailand should be used as a base to store crude-oil supplies from Middle East producers spooked by Iran’s threat to shut the Strait of Hormuz, according to the head of the country’s biggest energy company.
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Research In Motion Ltd. plans a campaign to increase retail outlets in Indonesia and Thailand, seeking to capitalize on rising demand for its BlackBerry smartphones in Southeast Asia and offset slumping U.S. sales.
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Indonesian infrastructure stocks are poised to advance as an $18 billion government spending plan boosts the outlook for shares in Southeast Asia’s largest economy, Nomura Holdings Inc. says.
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Thailand can maintain its “accommodative” benchmark interest rate as inflation risks increase while threats to economic growth remain, Bank of Thailand Deputy Governor Suchada Kirakul said.
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PT Bank Tabungan Negara, Indonesia’s largest mortgage lender, said 2011 profit rose 22 percent from a year earlier as lending increased.
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