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Despite a plummeting currency, the Australian economy continues to enjoy stellar growth. But how long can this continue in the face of a prolonged US-led global recession?

Despite a plummeting currency, the Australian economy continues to enjoy stellar growth. But how long can this continue in the face of a prolonged US-led global recession?

After years of uncertainty, the reform of Indonesia's banking sector is at last gathering pace. Maggie Ford reports.

Picture a 52-year old chief executive astride a Harley Davidson leading an army of pizza delivery boys through the streets of Bangkok. Add a handsome bearded face, an immense capacity for hard work and a love of wild sports that almost borders on the extreme. This is Bill Heinecke, veteran entrepreneur and head of Thailand's Minor group of companies. A big, burly man with a soft-spoken American accent, Heinecke has made a career out of the extraordinary – and in so doing has established himself firmly amongst the legends in Thailand. After turning down the opportunity to go to prestigious Georgetown University back in 1967, the aspiring businessman launched his own office cleaning company in Bangkok as well as a one man advertising venture which he operated out of a spare room in his parent's house. Having sold both businesses at a profit, he moved into the import business and from there into fast foods where he launched the franchises for Mister Donut, Pizza Hut, Swensen's and Sizzler. “Those were exciting times for Thailand,” he recalls. “Had I spent five or six years being educated in the US, I might have missed out on these opportunities.”

The suspension of the Chinese government's plans to sell down stakes in listed companies has taken pressure off the Shanghai and Shenzhen exchanges, which had been falling in expectation of a flood of new equity. But the debate on future sales of China assets is as important as ever – not just on the mainland but in Hong Kong too. By Pauline Loong.

The suspension of the Chinese government's plans to sell down stakes in listed companies has taken pressure off the Shanghai and Shenzhen exchanges, which had been falling in expectation of a flood of new equity. But the debate on future sales of China assets is as important as ever – not just on the mainland but in Hong Kong too. By Pauline Loong.

Chinese financial institutions based in Hong Kong are vying for post-WTO market share on the mainland by providing Wall Street-style money management techniques. Pauline Loong reports.

Unassuming may be one way to describe Chuang Kuo-Hsiung, president of Taiwan's Chiao Tung Bank (CTB) since 2000. But while his personal style is undemonstrative, his actions as leader have been anything but. With numerous diplomatically termed ‘mergers' in the offing (CTB being the senior party in each), Chuang and his bank are assuming an ever more important role in the island's financial landscape. On the agenda is a series of deals aimed at creating a full service financial company to rival the success of competitor groups, Fubon and Cathay. To that end, brokerage firm International Securities joined the holding company early this year. From August 22 Chung Hsing Bills Finance and Barits Securities will also be amalgamated into the CTB empire. Chuang says due diligence on another, much larger merger, this time with International Commercial Bank of China (ICBC), should be completed by October 21. All being well, ICBC will be welcomed into the CTB fold by January 29 2003.

A report by Bank Indonesia

A report by Bank Indonesia

Indonesia is trying hard to recreate itself following four years of chaos. Will recent decisions by the ruling body precipitate the much-needed political change? Maggie Ford reports.

Indonesia is cleaning up its act in the hope of once again attracting foreign investment. But, as Maggie Ford reports, there are still significant hurdles to overcome before the country is back on the radar screens of global investors around the globe.