JAPAN, GERMANY TO HOLD
HIGH-LEVEL FINANCE TALKSTOKYO - Japan and Germany will hold vice ministerial-level talks on finance matters Tuesday in Tokyo, the Ministry of Finance told the Kyodo news service.
Japanese officials will seek Germany's understanding on Japan's efforts to recover global confidence in its financial system, which has been shaken by the bad-loan fiasco at seven failed housing loan companies, ministry officials said.
Japan will address its recent deregulation package on foreign exchange markets and a government scheme to liquidate the bankrupt ''jusen'' mortgage firms with the use of taxpayers' money, the officials said.
TOYOTA BREAKS GROUND
FOR PLANT IN BRITAIN
NAGOYA, Japan - Toyota Motor Corp. broke ground for a new auto plant on the premises of Toyota Motor Manufacturing (UK) Ltd. in Burnastone, Britain.
Prime Minister John Major and other British government officials attended the ceremony Friday along with Shoichiro Toyoda, chairman of Toyota Motor.
The plant will begin producing passenger cars in the fall of 1998 at an annual rate of 100,000 vehicles.
INDONESIA SIGNS LOAN
TO FINANCE PULP PLANT
JAKARTA, Indonesia - Mohamad Hasan, long a close associate of President Suharto and one of Indonesia's wealthiest business tycoons, signed a syndicated loan pact for $410 million to finance a pulp plant in East Kalimantan, Indonesia, newspapers reported. The lead arranger for the loan was state-owned Bank Negara Indonesia.