Trade surplus good

JAKARTA: Indonesia’s trade surplus in March rose to $3.11 billion or up by 9.5 per cent from February’s $2.84 billion. Exports in March increased to $7.45 billion from $7.35 billion in February, while imports fell to $4.34 billion from $4.51 billions in the previous month. High world oil prices in March helped drive oil and gas exports to $1.69 billion from $1.63 billion a month earlier. — AFP

Thai inflation rises

BANGKOK: Thailand’s inflation rate in April edged up to a seven-month high of six per cent, as high oil prices continue to put pressure on production costs and transportation.

Inflation rose from 5.7 per cent in March, hitting the highest level since October last year. Ongoing high oil prices have pushed up production costs and transportation expenses.

In the past month, oil prices rose by 3.9 per cent, which caused public transportation fares to rise to an average of 1.4 per cent. — AFP

Petrol prices’ concern

WASHINGTON: Soaring petrol pump prices are here to stay for at least the next couple of years and the government can do little in the short term to mitigate it, US energy secretary. Opposition Democrats have lambasted the administration of president George W Bush for not having formulated a long-term energy policy and blasted oil companies for raking in multi-billion dollar profits. — AFP

SKorea’s inflation up

SEOUL: South Korea’s inflation rate increased by two per cent year-on-year in April as cheaper prices of agricultural goods offset higher oil prices. The consumer price index last month remained unchanged from a two per cent year-on-year gain reported in March. The index rose by 0.1 per cent month-on-month in April. In the first four months to April, the index gained 2.3 per cent year-on-year, compared with a 3.2 per cent rise during the same period last year. — AFP

Aussie rate revision

SYDNEY: Rate-rise speculation gripped Australia on Monday ahead of a central bank meeting which some analysts predict will trigger the first increase in interest rates in more than a year. After over a year of nothing much happening in Australian interest-rate markets, the place has come alive with interest-rate speculation. The Reserve Bank of Australia holds its monthly meeting on Tuesday and any rate change would be announced on Wednesday, with speculation that a long-awaited rise will be precipitated by growing inflation. — AFP

Malaysia shuns strikes

KUALA LUMPUR: The Malaysian government on Monday promised to cut labour strikes to zero, saying work stoppage hurts economic growth even as 2,000 workers marched in the streets of Kuala Lumpur to demand greater labor rights. Human Resources Minister said that industrial strikes in 2005 fell to three from 13 in 2001. It was not clear why he compared last year’s figures with 2001, but numbers for 2004 were not provided by the ministry. — AP

CNI felicitates staff

KATHMANDU: CNI has extended its felicitations to all workers and employees on the occasion of 177th May Day on Monday. In a press statement issued today, CNI has stated that a recent historic change in political sphere has mandated both the employers and workers to work together for building the nation. CNI has urged at creating a conducive working environment as an essential factor for economic development, which promotes social inclusiveness in order to make egalitarian society. — HNS

Handmade paper hit

BAGLUNG: Production of local handmade paper trade is hit hard due to ongoing conflict in the country. It has been difficult for the farmers to work on field and to supervise their performances that caused slump in paper production, said Gopal Shrestha of Bhaktapur Craft Paper Ltd, adding that it has severely affected the income of farmers. The annual business of handmade paper that reached up to Rs 10 million some seven years ago has been declined to Rs 3 million these days. He added the government policies also affected the business largely in addition to the all-pervasive insurgency. — RSS

Cheese production

RASUWA: Production of yak cheese in high mountainous region of Chandanbari in Rasuwa district has resumed. According to Padam Bahadur Bikke, chief at the Cheese Production Centre, Chandanbari, cheese production has been expedited in order to utilise abundant supply of yak milk. A target has been set to produce 24,000 kg cheese and 80 kg butter annually. For this, livestock farmers have been provided advance worth about Rs1.5 million to encourage them to supply milk. — RSS

Incomes in US grow

WASHINGTON: Incomes of US households jumped by 0.8 per cent in March, the biggest increase in six months, while spending rose by 0.6 per cent. Both increases were stronger than expected by analysts, who on average had forecast an 0.4 per cent rise in both figures. An inflation gauge linked to the report showed a 0.4 per cent increase in prices in March. — AFP