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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (64004)	2/1/2001 3:19:34 PM
From: flatsville	Read Replies (1) \| Respond to of 436258

heinz- Can't trust Yahoo! for sh!t I guess.

To: pater tenebrarum who wrote (64004)	2/1/2001 3:43:53 PM
From: Mark Adams	Read Replies (1) \| Respond to of 436258

I know we've beat this to death, and you understand the risk. Still I thought you might find this of interest, from the FEER and WSJ. feer.com Now, things couldn't be more different. A bloody separatist war rages in the oil-rich northern province of Aceh. Irian Jaya, home to the world's largest gold reserve and third largest copper reserve--largely owned by Freeport McMoRan of the United States--is also unhappy under Jakarta's rule. A vicious civil war in the Malukus has left thousands dead in clashes between Christians and Muslims. In Jakarta itself, bomb blasts go unexplained and resurgent Islamist groups raid bars and discotheques with impunity. To add to the confusion, the government has begun implementing a sweeping autonomy law that seeks to devolve power from Jakarta to the country's 361 districts. The autonomy proposal's supporters see it as a measure that will deliver business-friendly governance and blunt demands for separatism. "You will see some problems in the beginning," says Andi Mallarangeng, a political scientist and one of the architects of the autonomy laws. "But when regional autonomy is applied you are going to see competition for lowering taxes and creating a good investment climate." But mining companies see regional autonomy as a disaster. They worry about having to deal with inept or corrupt (or both) local government officials who know little about how the industry works. "These people don't understand billions of dollars in investment, or returns in basis points, or metal markets," says a senior Jakarta-based official at an American mining company. Bk Indonesia Allows Intraday Rupiah Overdraft Dow Jones Newswires JAKARTA -- In an attempt to clear up investor confusion over new rules to tighten offshore rupiah trading, Indonesia's central bank said Wednesday that foreign banks can borrow rupiah intraday through overdraft facilities if they offer certain documentation. Bank Indonesia's statement said nothing new about the regulations, but seemed to repeat a ruling last week that foreign-based banks can only borrow rupiah intraday if backed up by documents. The statement didn't give any other details about the documentation. Bank Indonesia also provided details on banned rupiah transfers. This includes rupiah transfers by Indonesian residents to Indonesian residents but the beneficiary's bank account is in an overseas bank; by non-Indonesian residents to non-Indonesian residents and the bank account is in overseas banks; by Indonesian residents to non-Indonesian residents although the beneficiary's bank account is in a domestic bank. It said any rupiah transfer to an overseas bank account is forbidden even if it is related to trade and investment. Dealers said the new circular sheds only little light and doesn't help much. "We have stopped trading completely and we're waiting for something more definite," said a dealer with a bank in Singapore. -By I Made Sentana,Dow Jones Newswires;62-21 39831277 I-Made.Sentana@dowjones.com -0- 01/02/01 03-13G