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Emerging Asia opening up more to foreign capital

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A street-side restaurant owner holds a bundle of Indian rupee notes as he sits outside his restaurant in New Delhi.   © Reuters

TOKYO -- With short-term money in retreat, Asia's emerging markets are loosening restrictions on investment from abroad in hopes of securing more durable foundations for growth.

     Indonesia is expected to take a number of steps in this direction soon. Southeast Asia's most populous nation stands poised to lift a ban on foreign investment in air- and seaport operators, allow foreign interests of nearly 50% in advertising and motion picture distribution, and permit bigger stakes in pharmaceuticals and some areas of finance.

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