Southeast Asian pleas for aid largely fall on deaf ears: officials from the U.S., European Union and Japan offer lukewarm commitments at Asean meeting

Article Abstract:

Representatives from donor nations such as the US, European Union and Japan were not able to make firm commitments for economic aid to Asia in the Association of South East Asian Nations' ministerial meeting. Despite the huge exposure of European and Japanese banks in the Asian region, these governments were unable to make firm commitments of assistance since most of the troubles stem from private sector loans. The US is keeping a 'hands-off' attitude towards the Asian economic crisis due to the low exposure of its banks in the region. The commitment of these nations to Asia is likely to manifest itself in the next annual meeting of the World Bank and International Monetary Fund where debt restructuring and debt relief are high on the agenda, especially with respect to Asia.

Foreign Economic & Financial Assistance, Political aspects, International relations, Economic assistance, Foreign economic assistance, European Union

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Japan touts Philippines' strength, but invests cautiously

Article Abstract:

The Japanese Chamber of Commerce and Industry of the Philippines said Japanese investors will be cautious in their dealings with the Philippines even if they believe in the country's strength to endure the Asian financial crisis. According to Kazuo Nishitani, secretary-general of the chamber, overall, Japanese companies are waiting for a more stable performance by the country's financial markets. The investors want the peso to stabilize to cut the risk of foreign-exchange losses.

Foreign Investment Regulations, Economic Planning & Research, Foreign investments, Economic aspects, Economic conditions, Philippine foreign relations, Foreign investment laws

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Bourses caught in crossfire; Kuala Lumpur, Manila battle speculators

Article Abstract:

Analysts raised concerns over the plight of the Philippines and Malaysia's stock markets folowing an increase in interest rates in the two countries as a move to defend their currencies. The result was a strong and steady currency rate against the dollar on one hand but a decrease composite index on the other hand. Analysts feared that a continuing condition of this kind may ultimately hurt the economies of the two countries.

Security and commodity exchanges, Foreign Exchange & Reserves Policy, Stock-exchange, Stock exchanges, Economic policy, Foreign exchange, Malaysia, Investment analysis, Securities analysis

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