JAKARTA (AFP) ― Automakers from Japan to India are eyeing a bonanza in Indonesia, Southeast Asia’s largest economy where a newly wealthy middle class are splashing out on cars like never before.With the economy growing at a brisk 6.5 percent a year, more Indonesians are climbing into the middle class, hungry for cars and other status symbols their newfound wealth affords.It is welcome news for automakers who, starved of sales in the ailing economies of Europe and the United States, are now circl

For Peru, the Yeosu Expo will be a rare opportunity to showcase its agro-fishery and gastronomical delights.“For us, this expo is important because we want to show our innovation, scientific investigations we are making toward the utilization of the sea, but also the preservation of the richness of the sea,” said Alberto Massa, Peru Commissioner General for Yeosu Expo. Peru’s economy reflects its varied geography with its coastal waters providing excellent fishing grounds.A couple of products th

The United States and China will try to set the stage for a smoother relationship during a visit by China’s likely next president, but neither side is under illusions about resolving deep disputes.Vice President Xi Jinping, who is in line to be the fast-growing Asian power’s leader until 2023, will enjoy treatment usually reserved for a head of state including a White House meeting Tuesday (local time) by President Barack Obama.In a bid to show a softer image both at home and abroad, Xi will als

Sales at U.S. retailers probably increased in January by the most in four months, spurred by the biggest gain in auto purchases since 2009, economists said before a report this week. The projected 0.8 percent gain in retail receipts would follow a 0.1 percent advance in December, according to the median forecast of 65 economists surveyed by Bloomberg News before Commerce Department figures on Feb. 14. Industrial production jumped and the cost of living increased in January, other data may show.

ISLAMABAD (AFP) ― Pakistani Prime Minister Yousuf Raza Gilani Monday faces indictment for contempt in Supreme Court which may cost him his job for his refusal to re-open graft cases against President Asif Ali Zardari.The Supreme Court Friday threw out a last-ditch appeal from the embattled Prime Minister.If convicted, Gilani faces six months in jail and disqualification from office in a case that has fanned political instability and may force elections within months in a country already troubled

Republican presidential front-runner gets campaign boost after three straight lossesPORTLAND, Maine (AP) ― Mitt Romney eked out a narrow win in Maine’s Republican caucuses, state party officials announced Saturday, providing his campaign for the party’s presidential nomination a much-needed boost after three straight losses earlier last week.But the former Massachusetts governor’s margin of victory over Texas Rep. Ron Paul was so slim it all but guaranteed scrutiny of the party’s decision not t

Three South Koreans were freed on Saturday a day after they were kidnapped by armed tribesmen in Egypt’s Sinai peninsula when clan elders negotiated their release, officials here and in Egypt said.“We were not assaulted, or treated badly,” said Pastor Lee Min-song, 53, one of the freed Koreans. “We are all well.”The other two freed South Koreans are Lee Jong-dal, 62, and Mo Jong-mun, 59. They were on a 10-day Christian pilgrimage to Egypt, Israel and Jordan.The three and their Egyptian tour guid

Economists and policymakers supervising the market have opposed lawmakers’ idea of taxing investors more on stock trading and dividends, saying it is likely to do more harm than good.The ruling Saenuri Party, formerly the Grand National Party, is currently pushing to widen taxable investment income by levying a top rate of 38 percent on those making annual investment returns of more than 30 million won. The 38 percent rate is currently levied on those with annual investment income of more than 4