Monetary policy stable

TOKYO: The Bank of Japan (BoJ) decided on Tuesday to leave its easy monetary policy unchanged, a position which the central bank governor said will be maintained until deflation disappears. The central bank’ said its nine-member policy board took the decision unanimously at the end of a two-day scheduled meeting.

US oil firm in Libya

TRIPOLI: US firm Occidental Petroleum opened an office in Tripoli in a bid to relaunch its business activities in Libya after a nearly 20-year ban, Libyan officials said. The office was opened a day after talks between Occidental Petroleum president, Ray Irani, and Libyan leader Moamer Kadhafi.

Vietnam’s bid for WTO

HANOI: Vietnam must accelerate its market-oriented reforms and improve its foreign investment climate if it wants to join the WTO next year, Britain’s deputy foreign minister, Mike O’Brien, said. O’Brien said Britain would support Hanoi’s quest to join the global trade body.

$675m settlement money

WASHINGTON: Bank of America and FleetBoston agreed on Monday to pay 675 million dollars for allowing illegal trades in mutual funds in the largest settlement of its kind, officials said. The two banks, which are in the process of merging, were accused of allowing hedge fund traders to make rapid-fire trades at mutual funds — a practice known as market timing.