Word: stockings
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...because judges misunderstood the law or disregarded it. Foreign bankers and investors often have trouble enforcing contracts in Indonesian courts. In one case, a court last year nullified a $180 million loan made by a syndicate of foreign lenders to property developer Danareksa Jakarta International to construct the Jakarta Stock Exchange building, saying the loan circumvented Indonesian borrowing laws and therefore need not be repaid. The creditors are appealing, but one, U.S. investment firm Lone Star, is so fed up that it has vowed not to pursue new business in Indonesia. "Indonesia is never really going to get foreign investment...
...That Megawati is blamed for all the ills of the system isn't entirely fair. In fact, she may not be getting enough credit, particularly for bright spots in the economy, which is in its best shape in nearly a decade. The Jakarta Stock Exchange index hit an all-time high in April and foreign-currency reserves are the largest ever at $37 billion. The economy is growing at its fastest rate since 2000, fueled in part by China's soaring demand for commodities?the 17,000-island archipelago is rich in oil, natural gas, gold, copper, nickel, coal, palm...
...Stock pickers should consider steel (Nucor, International Steel Group), fertilizer (Agrium), farm equipment (Deere), coal (Peabody), precious metals (Newmont Mining), paper goods (International Paper, MeadWestvaco) and energy (ExxonMobil). Then, when the prices you pay at the counter go up, so should your portfolio...
...higher vat. Anticipating a hike, many consumers are returning to buying practices learned during earlier regimes. "It's a conditioned reflex going back to the communist times," says Adéla Seidlová, head of the Center for Public Opinion Research in Prague. "Everybody knows it's better to stock up than face uncertainty." And stocking up they are. Egged on by Russian television stations gleefully portraying imminent price increases as punishment for E.U. accession, Latvians stripped their store shelves bare of salt, buying more in a day than previously in an entire month. The Estonians followed suit, fearing...
...could be worse; Mitsubishi Motors is facing an empty tank. Germany 's DaimlerChrysler won't rule out dumping its 37% stake in the Japanese firm, after killing speculation last week that it would stump up several billion dollars to rescue debt-ridden Mitsubishi. Investors sighed with relief: DaimlerChrysler stock shot up over 7% on the announcement. A global turnaround? Not yet. Speed limits vary. - By Adam Smith Hard To Swallow Swiss drugmaker Novartis accepted an invitation for merger talks from Franco-German Aventis. A deal won't be easy: the French government is against foreign ownership of Aventis, favoring...