24 July 2006 02:51 [Source: ICIS news]
Emigrants to ?xml:namespace>
The Cabinet on Friday approved a formal statement of apology and compensation measures for the misery suffered by hundreds of Japanese who emigrated to the
Embattled Mindan chief to step down
The leader of a pro-Seoul group for Korean residents here is to step down following criticism over his attempts to bury the hatchet with the group's pro-Pyongyang rival. Ha Byung Ok, president of the Korean Residents Union in
Business & Industry
Smart homes alert owners by cellphone
Worried about conditions at home, but there's no one there to call? No problem. If there's an emergency, your home will call you. Modern condominiums are not only providing broadband connections but also becoming integrated with the Internet and cellphone systems.
Scandals, shifting ties trouble Toyota
Uncertainties are growing over the future of Toyota Motor, which had appeared to be on track to become the world's top automaker. A scandal over vehicle defects in
First 'seed satellite' set to blast off
The country's first satellite specially designed for seed breeding in space will be launched into orbit in early September, it was announced over the weekend. The satellite will be in orbit for two weeks before returning to Earth, space officials said at a conference in
Business studies a 'major' problem
If a nation's readiness to plug into the global economy is gauged by how many of its college students are studying international business,
Business & Industry
By increasing export tariffs and lowering export rebates in 2005, the Chinese government enjoyed some success in curbing exports of high energy-consuming, high-polluting and resource-intensive products: coal exports dropped 12.7%, coke exports dropped 10.7%, billet exports dropped 35.6%, and exports of non-forged aluminum dropped 20% year on year in the first six months of this year, according to the National Bureau of Statistics. However, to get round such restrictions, many Chinese businesses found a new strategy: they began processing materials slightly - not completely - for export. Thus the bulk of Chinese exports moved from resource-intensive products to preliminary processed products and semi-finished products.
Auditors uncover embezzlement of CNY19.2bn of gov't funds
DPP congress moves on proxy voters
The Democratic Progressive Party approved a wide range of organizational reforms during a national party congress yesterday in what party leaders called "a demonstration of concrete action to respond to the expectations of the people. "Against the backdrop of falling approval ratings following allegations of corruption in President Chen Shui-bian's administration, the DPP held a two-day session that eventually decided on cracking down on proxy memberships and approved a measure that would abolish party factions.
Southeast Asian officials at a key regional security meeting yesterday worked to put the finishing touches on a common stand on
Business & Industry
Taiwan seeks to tackle growing investment in rival China
PRC has no desire for drastic moves, economists argue
One year after the Chinese currency was cut loose from the US dollar,
Kim jong-il has new wife: report
North Korean leader Kim Jong-il has reportedly taken his former secretary as a new wife after his purported spouse died of cancer in 2004. The emergence of Kim's new wife is expected to give a new twist to a power struggle between his sons over who would succeed at the helm of the communist country. "I heard Kim has been living together with a woman named Kim Ok, who served as his secretary, as Ko Yong-hi died two years ago," Yonhap News agency quoted a South Korean government source as saying.
The United States welcomed the prospect of six-party talks on North Korea's nuclear weapons program on the sidelines of an ASEAN meeting this week, as momentum appeared to gather for seizing the opportunity.
Business & Industry
Over-the-counter derivatives market under scrutiny
The financial watchdog said yesterday it is looking into the rapidly-growing over-the-counter derivatives market to see if brokerages are selling products to customers without fully informing them of the high risks involved. "The inquiry has its focus on whether the securities firms are properly informing investors of the risks associated with derivative products, and whether they still meet the requirements for over-the-counter derivatives business," explained the Financial Supervisory Service.
The much-touted benefits of a free trade agreement with the
Insurers get full pricing freedom
The Insurance Regulatory Development Authority of India (IRDA) has done away with the original plan of keeping a 20% band on premiums in the detariff regime set to kick off in January 2007. This means that insurance companies will be completely free to price their products from next year. However, the rider is that the insurers will not be allowed to change the terms and conditions for existing products within 15 months of detariffing.
RBI may chart CRR cut roadmap
The Reserve Bank of
Companies & Industry
Top positions at JNPT lie vacant
The Jawaharlal Nehru Port Trust (JNPT), which has drawn up a Rs900bn expansion programme, doesn’t have a chairman. The posts of deputy chairman and chief manager (finance) are also vacant. Though the government has appointed BrihanMumbai Mahanagarpalika Corporation (BMC) Municipal Commissioner Johny Joseph as JNPT chairman, he has not yet assumed charge as the city is facing a severe crisis caused by the bomb blasts and the downpour.
Manpower dearth may trip Pantaloon: Report
Pantaloon Retail India Ltd (PRIL) has set lofty growth targets for itself, but execution of these targets may be jeopardised by a shortage of manpower, a research report issued by Deutsche Bank AG says. The July 2006 report says that PRIL’s planned expansion to 30 million square feet of retail space by 2010 target would need around 200,000 employees while its current workforce strength is around 13,000.
Private banker sign-on carrots hit million S$
The tussle for experienced private bankers has intensified to what observers call 'ridiculous' proportions, with some banks reportedly willing to pay signing-on fees of a million dollars or more. Banks are prepared to offer such 'golden-hello' packages in the hope that a good relationship manager, or RM, would help bring in enough new business to pay for himself, or herself.
CPIB probe of bunker supplier spawns scandal fears
A-Sonic bids for rest of Airocean shares
Mainboard-listed aircraft equipment and avionics specialist A-Sonic Aerospace has launched a takeover bid for fellow mainboard-listed logistics firm Airocean Group in an all-share deal worth some S$42.56m. Under the Scheme of Arrangement announced over the weekend, A-Sonic has proposed swapping one A-Sonic share for every 2.63 Airocean shares for a takeover of all 403 million outstanding shares not held by A-Sonic, or a 70.3% stake, in the logistics firm.
Comparing S'pore firms' earnings risks
Divided Arabs press for
Top Saudi envoys urged US President George W Bush on Sunday to press
Decree gives balance of power to PM
The balance of power in politics has swung in favour of the ruling Thai Rak Thai party of caretaker Prime Minister Thaksin Shinawatra after the 15 Oct general election date was set, say political analysts. Before the poll date was set, key members of Thai Rak Thai had been anxious to find a way out of the political stalemate. This was reflected in the embattled prime minister's proposed reconciliation efforts.
Business & Industry
Vote decree drives investor optimism
Although royal endorsement for an election on 15 Oct has come as a relief to businessmen hoping to see an end to political deadlock, some worry that the poll may not actually meet the schedule. The stock index rose sharply in the afternoon session yesterday after the cabinet announced that His Majesty the King had signed a royal decree regarding the election, which is to be published in the Royal Gazette today.
Trade deficit pushed down by solid exports
Helped by healthy exports, Thailand's trade deficit dropped to $2.03bn over the first six months of this year, about one-quarter the size of the deficit in the same period last year.The value of exports rose 16.6% in the first six months to $60.56bn, according to Karun Kittisataporn, the permanent secretary for the Commerce Ministry. Agricultural, agro-industrial and industrial products recorded gains, including rubber, tapioca, food, electronics, automobiles and parts, electrical appliances, textiles, gems and jewellery, and plastic products.
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