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Friday, March 25, 2011

Indonesia Uses 3-Month Bond Yield

Bank Indonesia.

The Indonesian government said Friday that it will use the yield of its three-month bonds as a reference in deciding the yield of its existing IDR142.79 trillion ($16.4 billion) in bonds that bear variable coupons.
Previously the reference was the yield of the three-month Sertifikat Bank Indonesia note issued by the central bank. The central bank stopped auctioning those money market securities late last year to reduce fund inflows, making it necessary for the government to use another rate as a reference.
At the most recent auction Tuesday, the three-month bonds were yielding 5.12%, significantly lower than the yield of Bank Indonesia's latest three-month note of 6.367%. The government will again auction three-month bonds next month.

Japan Faces Its Next Chore

A picture shows wrecked cars littering a street in Natori, Miyagi prefecture on March 16, 2011 after the March 11 earthquake and tsunami. The official toll of the dead and missing following a devastating earthquake and tsunami that flattened Japans northeast coast has topped 11,000, with 3,676 confirmed dead, police said on March 16.

Where do you even start? Do you start by carting away the Chokai Maru, the 150-foot (45-meter) ship that was lifted over a pier and slammed into a house in this port town?
Do you start with the thousands of destroyed cars scattered like discarded toys in the city of Sendai? With the broken windows and the doorless refrigerators and the endless remnants of so many lives that clutter the canals?
In the first days after a tsunami slammed into Japan’s northeast coast on March 11, killing well over 10,000 people, it seemed callous to worry about the cleanup. The filth paled beside the tragedy. Now, nearly two weeks later, hundreds of communities are finally turning to the monumental task ahead.
The legacy of Hurricane Katrina, which devastated the U.S. Gulf of Mexico coastline in 2005, gives an idea of both the immensity of the job and the environmental hazards Japan could face for years to come.
“In Katrina, you had debris that had seawater, sewage, chemicals, gasoline, oil, that was all mixed together in a toxic soup,” said David McEntire, a disaster expert at the University of North Texas. “And you’re going to have similar problems with the disaster in Japan.”
Three years after Katrina, which spawned enough debris to cover Britain, the U.S. government had said the mess was not even close to being cleaned up. The mess looks endless in Japan, and hauling it away seems unimaginable.
The cost? No one really knows, though the crisis is emerging as the world’s most expensive natural disaster on record, with Japanese officials saying losses could total up to 25 trillion yen ($309 billion). The World Bank says reconstruction could take five years.
So there’s nothing to do but start. Mayumi Hatanaka began with the knee-high mud that had flooded into her little seafood restaurant in the small seaside city of Shiogama.
“It’s been four days, and we’ve been working, working,” she said, standing beneath a sign that promised food “Straight From The Fishery To You.”
She and her daughter were scraping the muck down their driveway and into the street. The thick, dark goo looked almost volcanic. Workers hired by the city used a gargantuan truck-mounted vacuum, normally used for well-drilling, to hose it up. The noise of the pump and the sucking splutter of the hose nearly drowned out her voice, and she had to shout to be heard.
Simply carving out an aisle in the restaurant took three days, Hatanaka said, so she has no idea when she’ll be able to reopen. “I think we’ll never finish,” she said, only briefly willing to set aside her shovel before getting back to work.
Much of the official cleanup effort so far has been to support rescue teams. Soldiers and city crews have cleared streets of debris so rescuers can get through, and some buildings have been pulled apart in search of survivors.
Now, with little chance left of finding anyone still alive, the concern is to avoid accidentally clearing away corpses with the debris. Takashi Takayama is a city official in Higashimatsushima, a port town brutalized by the tsunami, leaving nearly 700 people dead.
He said the city, where the Chokai Maru ship was thrown ashore, is still cleaning up — and footing the bill — from a major earthquake in 2003.
“I don’t know how long it will take,” he said. “The last time it was just parts of houses that were destroyed. Now it’s the whole house. So I don’t know how we’ll do it.”
With city workers desperately overworked, officials turned to a local association of construction companies to help. Those private contractors helped clear the roads and have started piling up debris in small hills, soon to be small mountains, on city land near the port.
Japan is a country where separating trash into its various components is almost sacrosanct: There are the burnables, the food items, the array of different recyclables. Takayama is already dreading the arguments when disaster-weary residents refuse to categorize their garbage properly.
“Sorting everything out will be the first challenge,” he said.
A 2004 tsunami, which killed 230,000 people in 14 Asian and African countries, left thousands of cities and towns facing a task similar to Japan’s today. In Indonesia, the United Nations employed 400,000 workers to clear 1.3 million cubic yards (1 million cubic meters) of debris just from the urban areas of the hard-hit city of Banda Aceh.
Many of the countries affected by that disaster were less developed than Japan and lacked sophisticated waste disposal systems. In the initial cleanups, some burned debris in the open air, dumped it in makeshift landfills and used other environmentally risky methods, polluting wells, inland waterways and the nearby seas.
Japan will presumably use state-of-the-art incinerators and sanitary landfills, though technological prowess doesn’t guarantee there won’t be problems. In the United States, there were allegations of corruption by cleanup companies after Hurricane Katrina, including claims that hazardous debris was improperly dumped in landfills.

Apple's iPad 2 Hits Overseas Stores after U.S. Sellout

An employee (R) looks at customers stand in line outside Apples flagship 5th Avenue store to purchase iPad 2 tablets in New York, March 16, 2011.

Hundreds of customers lined up outside Apple stores in Australia and New Zealand on Friday for the international launch of the iPad 2, which has flown off the shelves in the United States leaving the company struggling to meet demand.
Analysts forecast some 1 million devices may have been sold in the first weekend of the launch in the United States, but many warn that it’s not clear how supply constraints will affect availability following the Japan earthquake and tsunami.
Apple plans to roll out the new iPad on Friday to 25 markets including France, the United Kingdom, Canada, Denmark, Germany, Italy, Mexico, Netherlands, and Spain. The iPad 2, a thinner and faster version that features two cameras for video chat, was introduced in the United States on March 11.
But some would-be buyers have expressed frustration at how difficult it has been to secure one of the wildly popular tablet computers, sparking speculation Apple misjudged demand.
“If it wasn’t for the iPad, I wouldn’t be in Australia right now,” said Alex Lee, a backpacker from Canada, who was the first in the queue outside the glass-fronted Apple store in Sydney’s central business district.
He said he diverted his travels from Singapore to attend the launch. “It’s like a habit. I’ve also lined up on Regent Street in London for the iPhone”, added Lee, who had a folding chair and blanket and had spent two nights waiting.
Blue-shirted Apple staff in Sydney handed out trays of sandwiches to those in the queue, some of whom had bedded down on blankets overnight before being awoken by bright sunshine. The iPad 2 goes on sale at 5 p.m. local time (0400) GMT in New Zealand and at 0600 GMT on the east coast of Australia, before sales kick off in other markets.
Its retail price in Australia starts at A$579 ($568), against $499 in the United States. Chief Executive Steve Jobs said in a statement on Tuesday the company was “experiencing amazing demand for iPad 2 in the U.S.” and added “We appreciate everyone’s patience and we are working hard to build enough iPads for everyone.”
Fiona Martin, a spokeswoman for Apple in Australia, declined to comment on whether there was enough stock to meet demand. “We don’t comment on speculation, we’ve got plenty down there for all those folk that are in the queue.”
In New Zealand, a shop assistant at JB HiFi , one of Wellington’s major electronic shops, said there had been a constant stream of people asking about the iPad. “We haven’t even seen it, we don’t know how many we’re getting, but there’ll be big demand you can bet,” said the assistant.
A prospective buyer, 22-year-old student Ian MacDonald, said he had held off buying the first generation iPad because it lacked a camera and he wanted any bugs ironed out.
“This version looks way better, with the cameras and it beats all the other tablets because there are so many apps (applications),” he said.
In addition to Friday’s rollout, Apple said the iPad 2 will be available in Hong Kong, South Korea, Singapore and additional countries in April. Japan supply concerns
Analysts are concerned that Apple will face shortages of key components for the iPad 2 because of the earthquake and tsunami that struck Japan two weeks ago. Several key components in the new version of Apple’s popular iPad come from Japan, including the battery and the flash memory used to store music and video on the device, according to IT research house iSuppli .
Apple delayed sales of the iPad 2 in Japan, but has said that had nothing to do with any component shortages. “We expect Apple to face increased pressure in meeting iPad 2 and iPhone 4 demand in the second quarter,” Stifel Nicolaus analyst Doug Reid wrote recently.
“Although it is early to gauge the extent of component supply shortages, we see risk to our iPad and iPhone unit estimates in the June quarter.”
That said, the wait time on delivery of online orders has shortened to 3-4 weeks in recent days from as high as 6-7 weeks, suggesting component shortages have not reached critical levels. The iPad two also faces increased competition.
Samsung Electronics and Motorola have tablets on the market and Blackberry-maker Research In Motion and Hewlett-Packard Co are set to release tablets in coming months.

Japan's Top 11 Cars?

Honda NSX

March has been the worst month in generations up north. Most of the happenings fall outside the scope of a motoring publication but we can at least pay gentle homage to the country and people who have brought us so many wonderful wheels.
But which are the most wonderful-est? What are the top, say, 11, mainstream Japanese cars of all?
Mazda RX-7: Mazda said it would give up on the Wankel engine over its dead body and it was a close-run thing. The original 1979 RX-7 coupe was probably the best, with styling unlike anything else and high-spinning rotary performance to boot. Datsun 2000: Once they'd flung the Fairlady name (at least in export markets) and added a lively two-litre engine, Datsun had the best low-cost roadster in the world until the MX-5. It wasn't an MGB rip-off, either, despite what the Anglophiles say. The Fairlady 1500 prototype made its debut in 1961, six months before the "B" hit showrooms. Mazda MX-5: The classic English roadster - not as it really was but as we always wished it had been. Superb. Datsun 240Z: For a company that wound up destitute and homeless in the late 1990s - and had to be taken in by Renault - Nissan has produced a surprisingly high number of the great Japanese cars. In 1970 many claimed the 240Z was an E-Type rip-off; to today's eyes, the Zed looks thoroughly original and a decade more modern. Later Zs porked up but the years do not condemn the lithe original.
Datsun 1600: This was an attempt to build a BMW 2002 rival. To reduce the risk, they built an actual BMW 2002 (well, very nearly). Furthermore, they did it at a Datsun price. The 1600, or 510 series, was first seen in 1968, is still sought after and is still used in motor sport. Toyota Celica 4G: The first front-drive Celica, the fourth-gen of 1985, had sublime handling at a time when front-wheel-drive was considered as unsporting as a three-speed auto (a Saab or Subaru of the time told you why). The refreshingly styled newcomer also had an a jewel of a two-litre engine that thought the new, unpopular, low-octane unleaded was actually rocket fuel. Honda NSX: A Japanese Ferrari competitor, albeit from a company that missed the point about why people bought Ferraris. Most weren't going to buy a Honda, no matter how good. That was a reflection on them, not on Honda's accomplished, mid-engined, Ayrton Senna-tweaked NSX. Nissan Skyline GT-R: Love or hate Godzilla, you can't deny the power of the reptilian beast.
Toyota Corolla: The benchmark for affordable quality and consistency in every language. Obama reputedly said of the US's Big Three: "Why can't they make a Corolla?" Quite.
Subaru Impreza WRX: Largely responsible for convincing young Australians that V8 engines were, you know, like, so yesterday. The Lancer Evo is almost as impressive. Toyota 2000GT: Mainstream? Well, it was the best-known Japanese car in the world in 1967, courtesy of a star turn in the Bond film You Only Live Twice (the convertible version was produced just for the film).
The 2000GT was really a Japanese industry group effort that ended up wearing Toyota badges. A beautiful and capable one at that. Imagine China today suddenly coming up with a credible 911 competitor. The 2000GT was that much of a shock.
See! If you count the Evo, slipped in here with the WRX, Japan has produced such an abundance that even its Top 11 has 12 cars in it.
That's without mentioning all the ones you've been shouting out, like those great versions of the Honda Civic or perhaps the first Lexus. Or any of the many ultra-quirky fun machines. Get well soon, Japan.

How Far Indonesia Gets Involved in Supporting Libya

A Mirage 2000-5 jet fighter takes off at the aerial military base 126 - Capitaine Preziosi in Solenzara, Corsica, the French Mediterranean island, for a mission in Libya on March 24, 2011. Blasts and anti-aircraft fire rattled the Libyan capital for the sixth day as France hailed the allied air raids against Moamer Kadhafis forces and promised they would go on indefinitely.

The Indonesian government fully supports any effort to protect civilians in Libya where armed conflict is raging following a UN Security Council resolution allowing the use of all necessary measures to protect civilians in the country.
"In principle, as the president has earlier instructed to our foreign ministry, what is the most important to do is to give priority to the safety of civilians," Julian Aldrin Pasha said here on Thursday. He stated the Indonesian government would give support and assistance to any mission if it was aimed at protecting civilians.
"That’s why the Indonesian government will definitely support any action aimed at creating global peace, security, and tranquility including in Libya."
The United Nations Security Council passed Resolution 1973 last Thursday, imposing a no-fly zone above Libya and authorizing all member states to use all necessary measures to protect civilians. Two days later, the United States, Britain and France launched missile strikes on Libya from the Mediterranean Sea.
By Wednesday western warplanes had flown more than 300 sorties over Libya and more than 162 cruise missiles had been fired in the mission. The allied forces accused Libyan President Muammar Gaddafi of causing a misery to his people.
Many circles denounced the decision by the allied forces, saying the attack was a form of foreign intervention in the internal affairs of a sovereign nation.

Liz Taylor Buried Near Beloved Jackson

Family members leave the Forest Lawn Memorial Park in Glendale, California after the funeral of screen legend Elizabeth Taylor, March 24, 2011.

Film icon Elizabeth Taylor was laid to rest Thursday in the same celebrity cemetery as her long-time friend Michael Jackson — and demonstrated a keen sense of humor to the end.
The legendary actress, who died Wednesday aged 79, was sent off with an hour-long private ceremony at the Forest Lawn Memorial Park, where generations of Hollywood stars are buried.
But her last wishes were respected, and announced after the service had finished. “The service was scheduled to begin at 2:00 pm, but at Miss Taylor’s request started late,” said a statement by her publicist.
“Miss Taylor had left instructions that it was to begin at least 15 minutes later than publicly scheduled, with the announcement: ’She even wanted to be late for her own funeral,’” it added.
The film legend and violet-eyed beauty, famed as much for her stormy love life as her five-decade Oscar-winning film career, died early Wednesday from congestive heart failure at Los Angeles’ Cedars-Sinai hospital. Tributes poured in from Hollywood and beyond for the actress, who won two Oscars — including for the 1966 classic “Who’s Afraid of Virginia Woolf?” — and was arguably the last great star of cinema’s golden era.
But Thursday’s funeral was reserved for a few dozen family and friends, brought in a fleet of black stretch limos to the verdant cemetery, where stars including Humphrey Bogart, Clark Gable, and Jean Harlow are also interred. Irish actor Colin Farrell — a “close friend” — gave a recital of the Gerard Manley Hopkins’ poem “The Leaden Echo and the Golden Echo,” while other readings were done by her children and grandchildren, said her publicist.
Taylor’s grandson Rhys Tivey performed a trumpet solo of “Amazing Grace,” while Rabbi Jerry Cutler officiated at a “multi-denominational” service. Taylor converted to Judaism when she was in her 20s.
Forest Lawn is where Jackson was buried following his death in June 2009 aged 50, from an overdose of the powerful sedative propofol. Taylor attended that private ceremony.
During their lives, the pop icon and Hollywood legend were at times inseparable, with homes near each other in the plush Bel Air and Beverly Hills neighborhoods west of Hollywood.
“I don’t think anyone knew how much we loved each other,” Taylor said after his death. “I loved Michael with all my soul and I can’t imagine life without him. We had so much in common and we had such loving fun together.”
The TMZ celebrity news website published a copy of Taylor’s death certificate, which gave Forest Lawn as the burial location. The certificate listed her causes of death as: chronic obstructive pulmonary disease, which it said she had for 10 years; congestive heart failure, which she had for five years; and cardiopulmonary arrest, against which was noted five minutes.
In tribute to Taylor, the association representing New York’s Broadway theaters said they will dim their lights Friday in remembrance of the Hollywood goddess, whose long career included spells on the stage. At the same time it emerged that ailing actress Zsa Zsa Gabor, 94, had been rushed to hospital after hearing the news of Taylor’s death.
“She was watching the news yesterday morning, she was inconsolable. She said to her husband: ’Celebrities always go in threes, we’ve had Jane Russell, now it’s Elizabeth, I’m next,’” said her spokesman.

New Suzuki Swift

Suzukis fourth-generation Swift.

These days, it's getting difficult to tell a new car from the model that came before it.
Cut-throat competition means car makers are scared to take risks; when they come up with a successful formula, they're loath to tinker with it. The new Suzuki Swift is one such example.
When it returned to Australian shores in 2005, the Swift was poles apart from the car that came before it, the largely unloved Ignis. It turned heads like no other small hatch on the road and, in its first year, it quadrupled the sales of its predecessor.
So after taking a leap of faith on a bold new look and coming up trumps, Suzuki has done the smart thing and made the 'new' Suzuki Swift look like the old one. But the new Swift is actually a bigger step forward than it appears, with more room, more frugal engines and better protection for occupants.

Japan Death Toll Tops 10,000





Japan Ground Self Defense Force members search for earthquake and tsunami victims in Onagawa, Miyagi Prefecture, northeastern Japan on March 25, 2011.

The death toll from a massive earthquake and tsunami that devastated Japan’s northeast coast topped 10,000 on Friday, two weeks after the disaster struck, Kyodo news reported. The National Police Agency, responsible for compiling statistics from different prefectures affected, could not immediately confirm that figure.

There are fears of a much higher toll from the disaster, which flattened entire towns along the Pacific coast of the country’s main island of Honshu. In its report on Thursday, the National Police Agency said that 9,811 people had been confirmed dead and 17,541 officially listed as missing — a total of 27,352 — as of 9:00 pm (1200 GMT) as a result of the March 11 catastrophe.
A total of 2,779 people have been injured. The quake has become Japan’s deadliest natural disaster since the 1923 Great Kanto Earthquake, which killed more than 142,000 people. Hundreds of thousands of people have been displaced from their homes and have taken shelter in emergency

Mini LNG Terminals to be Built in Indonesia

President Director of state-owned oil and gas company Pertamina, Karen Agustiawan

State oil and gas company PT Pertamina and state electricity company PT PLN have signed a contract for the development of eight small-scale liquefied natural gas recipient terminals in the eastern parts of Indonesia.
Pertamina President Director Karen Agustiawan and PLN President Director Dahlan Iskan signed the contract in the presence of State Enterprises Minister Mustafa Abubakar here on Thursday.
Mustafa said the construction of LNG terminals would help the country reduce the use of fuel oils and slash state subsidy. According to him, the government expected to save Rp847 billion in oil subsidy by operating the eight LNG terminals.
The project would also help accelerate the development of eastern Indonesia, he said. "PLN and Pertamina are the first to speed up evenly distribution of development gains (in the country)."
Karen meanwhile said the eight LNG terminals which would have a combined capacity of 182 million cubic feet per day (MMSCFD) would be built between 2012 and 2015. The eight mini LNG terminals will be built in Tanjung Batu (East Kalimantan) with a capacity of 25 MMSCFD, Batakan (East Kalimantan) 15 MMSCFD, Pasanggaran (Bali) 25-30 MMSCFD, and Pomalaa (Southeast Sulawesi) 25 MMSCFD expected to start operations in 2012.
Karen said the Bontang refinery in East Kalimantan would supply gas to the four LNG terminals. The other LNG terminals will be built in Mataram (West Nusa Tenggara) 15 MMSCFD and Banjarmasin (South Kalimantan) 6 MMSCFD expected to start operations in 2013 and Gorontalo (North Sulawesi) 6 MMSCFD, Halmahera (North Maluku) 60 MMSCFD in 2015.
Dahlan Iskan said the gas supplies from the eight LNG terminals would overcome problems related to the use of fuel oils during the peak load. "To date, there is no other way but to rely on fuel oils."

Riau Urged to Stop Conflict between Humans and Elephants

In this Thursday, May 7, 2009 file photo, conservationists and officials inspect the carcass of an elephant suspectedly poisoned to death by poachers near Pekanbaru, Riau province, Sumatra island, Indonesia. Two endangered elephants found dead on Indonesias Sumatra island are believed to be the victims of poachers targeting the animals for their prized ivory tusks, a park official said Monday, March 29, 2010.


The Riau World Wide Fund for Nature is trying to put an end to the conflict between humans and elephants (elephas maximus) by rehabilitating and restoring their habitats at the Balai Raja fauna reserve, Bengkalis district, a conservationist said.
"We keep encouraging the government to rehabilitate the habitats of the wild elephants at Balai Raja," Syamsidar, WWF-Riau media relations officer, said here on Thursday.
Syamsidar said that Balai Raja in 1990 covered 16,000 hectares when it was run as a fauna reserve but now it has been much reduced to 120 hectares of secondary forested land.
He also said that even with the remaining area, it was still converted into human settlements and palm oil plantations causing the elephants to become marginalized creating conflicts with human beings.
In a latest incident last week, she said, a wild female elephant and her baby had been made paralyzed by poisoning near a human settlement. Those elephants were in weak condition.
Head of Region III of Riau Nature Resource Agency (BKSDA)B. Hutomo said that that the location where the two elephants had been paralyzed was also a passage of the beasts for a long time.
As more people came to live near the area, the beasts might feel disturbed and fought the human beings from time to time, he added. In last week’s incident, the elephants could become dehydrated as humans kept them away from water sources. Hutomo said that the agency was trying to cure elephants, and drive them back to their habitats.

Floods Inundate Three Villages in E Java

Floods caused by the overflowing of Lamong river in Dawarblandong subdistrict, Mojokerto district, East Java, caused inundation of three villages on Thursday.
The flood waters had submerged Talun, Banyulegi and Pulorejo villages since early Thursday but it would naturally recede in the next two to three days, head of Banyulegi village Zainuri said.
The flood waters came too sudden and inundated a number of houses, causing some families to take refuge to buildings on higher ground such as mosques and the village community centers.
A local resident, Suparno, said Lamong river usually overflowed and caused flooding of three villages as they were low lying. But there were no reports of fatalities.

West Java to Observe Earth Hour

The "Earth Hour" campaign by turning off electricity for an hour on March 26, 2011 throughout West Java, will save a total of 661.54 megawatts (MW), a local official said here Thursday.
"If only 10 percent of West Java followed the instruction, 661.54 MW would be saved, " head of the West Java environmental management agency Setiawa Wangsatmadja noted.
He added that Earth Hour is a global campaign that invites people in the world from individuals to governments to support reducing CO2 emissions that cause damage to the earth.
"For this year’s Earth Hour environmental campaign, the agency appealed to all people in West Java to turn off their lights and all electronic equipment for one hour from 8.30 pm to 9.30 pm, because it is a peak hour," Setiawan said. The agency asserted that West Java province fully supports Earth Hour environmental campaign 2011.
"Symbolically, the campaign will be conducted at several locations that are icons of West Java such as Gedung Sate, Bandung City Hall as well as Bandung Institute of Technology (ITB) and Padjadjaran university campuses," Setiawan said.

800,000 Foreign Workers Still in Libya

In this image taken during an organized trip by the Libyan authorities, men gather at a mass funeral for people killed in coalition bombings, officials said, in Tripoli, Libya, Thursday March 24, 2011. The cause of deaths could not be verified. French fighter jets struck an air base deep inside Libya and destroyed one of Moammar Gadhafis planes Thursday, and NATO ships patrolled the coast to block the flow of arms and mercenaries. Other coalition bombers struck artillery, arms depots and parked helicopters.

Some 800,000 foreign workers are still in Libya, according to an estimate by the International Organisation for Migration (IOM).
Laurence Hart, the IOM mission chief in Tripoli, told AFP: "Based on IOM estimates, there are about 800,000 foreign workers of various nationalities still in Libya."
He added that he was not in a position to say how many of them wanted to leave the country but said the organisation had received requests for aid to help repatriate their citizens from the embassies of a number of African countries.
The IOM asked the Libyan authorities at the beginning of March for permission to send a humanitarian mission to the country where tens of thousands of immigrants were awaiting to be evacuated.
"We have still not received a reply," said Hart, who is currently away from Libya. Since February 20, some 280,000 people have fled the violence in Libya, 151,000 to Tunisia and 118,000 to Egypt, according to the UN High Commissioner for Refugees (UNHCR).