31 May 2006 03:44 [Source: ICIS news]
Another judicial strike for guru
Lawyers for Aum Shinrikyo founder Chizuo Matsumoto have lost another procedural court battle, bringing their client one step closer to the gallows. A Tokyo High Court panel rejected an objection filed by defense lawyers over the dismissal of their appeal of the death sentence handed down in 2004. Matsumoto, who went by the name of Shoko Asahara during the cult's murderous rampage in the 1990s, was sentenced to death by the Tokyo District Court in February 2004 on murder and other charges that left 27 people dead.
Cabinet endorses US military realignment amid opposition from Okinawa
The Cabinet on Tuesday endorsed the plan to realign the
Business & Industry
Hankyu sets price for bid to take over Hanshin
Hankyu Holdings said on Monday it will launch a public tender offer for Hanshin Electric Railway shares today after failing to reach agreement Sunday with the rival railway's largest shareholder. While continuing negotiations, Hankyu said it will pay Yen930/share, or Yen176bn, to grab a 45% stake in Hanshin during the 21-day public tender through June 19. The company said if it is not able to buy at least 455, it will cancel the tender offer.
Brokerages vie for baby boomer bonanza
Securities houses are drafting a wide array of instruments to attract a share of the Yen50trn in corporate retirement payouts expected over a three-year surge of baby boomers. According to Dai-ichi Life Research Institute, baby boomers are expected to receive more than Yen15trn in one-time retirement allowances annually beginning in fiscal 2007.
Russia, China close ranks in Central Asia
China emerging from shadows of AIDS
Business & Industry
In real-estate market, small now beautiful
The importance of urban housing in the country's next stage of development has been starkly illustrated by recent strong measures to cool down the overheated sector.
The effort is primarily focused on a few cities,
New moves to steer car sector stability
Violence erupts on the Legislature floor - again
The Legislature yesterday was paralysed for a third time over a proposed amendment that would allow the opening of direct transportation links with China, leaving the controversial amendment as well as other bills in limbo as the body's latest three-month session came to an end. After unproductive legislative proceedings over the past three weeks, the Democratic Progressive Party legislative caucus said it will introduce a motion to convene extra sessions in order to pass budgets for flood-control and major public construction projects.
High Court vetoes lower court decision to release Lee Tai-an
A panel of judges at Taiwan High Court's Kaohsiung branch yesterday vetoed a lower court's decision to release Lee Tai-an, a major suspect in the death of his sister-in-law following a March 17 rail derailment in southern Taiwan, and ordered a district court to reconsider the case. "(Members of) the panel agreed with the prosecutors' appeal" against Saturday's release of Lee, said presiding Judge Wang Kuang-chao of the High Court. Wang explained that they therefore vetoed the lower court's decision to release Lee.
Business & Industry
CPC plans survey for crude oil in Libya
Chi Mei denies report of plan to build plant
Chi Mei Optoelectronics,
Nation goes to the polls
Voting begins across the country today for local government and council elections, with the main opposition Grand National Party looking set for a big win. Voters will determine 16 provincial governors and large city mayors, and 230 heads of small cities, counties and wards. In addition, 3,621 members of local legislatures will be elected
Daewoo founder receives 10 years
A lower court sentenced Kim Woo-choong, founder of the now-defunct Daewoo Group, to 10 years in prison and a Won21.44trn fine on charges of accounting fraud and embezzlement of company funds. The Seoul Central District Court ruled that it is inevitable for Kim, 69, to face severe punishment as "he ignored corporate ethics and carried out illicit business maneuvers and led Daewoo Group to bankruptcy."
Business & Industry
Samsung Electronics debuts interactive data television
The South Korean broadcasting industry will kick off airing the so-called interactive data programs from June, and Samsung Electronics, the country's biggest electronics maker, has opted to offer a projection model for the specialised program. Samsung held a briefing at its headquarters in
Immigration law for foreign investors
One of the experiences that bind most expatriates is waiting in line at the Mok-dong Immigration Office. Old-timers have many tales of woe regarding the inconveniently located building, while newcomers tend to have better experiences. One of the improvements is a more welcoming attitude toward foreign investors - who can also use the more convenient Gwanghwamun, KOTRA and City Hall immigration offices to take care of their visa needs.
Funds bet big on future earnings
If the price-earnings (P/E) ratios of their portfolios are anything to go by, domestic fund managers are betting on bigger growth in earnings than what the market can generate on an average. Most of the actively managed equity funds have earnings multiples higher than those of the two key indices — BSE Sensex and the broad-based Nifty.
SAIL likely to buy Malavika Steel's plant
State-run Steel Authority of India is close to buying Malavika Steel’s plant at Jagdishpur, located in the Gandhi family’s political stronghold of Amethi. The acquisition plan has been referred to Mecon Ltd for evaluation. Top executives in SAIL confirmed that Mecon had been commissioned to examine the value of the plant and evaluate the financial viability of buying into the assets of the Rs30bn project that was left half unfinished in 1998, within 10 months of getting off the ground.
Companies & Industry
Pharma intermediates mart to touch $590 m this year
Tata Power plans two 1000 mw projects
Tata Power Company (TPC) is planning to set up two new 1,000 mw imported coal-based projects near Rewas in
$2b e-govt masterplan launched
In a move that is expected to boost the infocomm industry, the government yesterday announced a $2bn iGov2010 masterplan under which it will work with local players to co-create, develop and export e-government solutions. In addition, it will allow them to retain ownership of the relevant intellectual property (IP) to enhance their business and export opportunities. Players welcomed this move, saying it should boost infocomm exports.
Sands promises huge benefits for Singapore
Having won the bid for the
Companies (online edition)
Disney 'has no plans for Malaysian park'
Walt Disney on Tuesday said it has no plans to build a theme park in
A liquid crystal display venture between
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