In Wednesday's Asia papers

30 August 2006 02:53  [Source: ICIS news]

Asahi Shimbun, Japan (online edition)

Front page

 

Poll shows 47％ still support Koizumi

A weekend Asahi Shimbun poll found 47% of voters surveyed still support the Cabinet headed by Prime Minister Junichiro Koizumi.

The unusually high support rate comes as the prime minister prepares to leave office in September after nearly five and half years in power. Koizumi's high support rate is rare for an exiting leader--most leaders have tended to leave office amid low support.

 

Doctors told not to withhold morphine in cancer cases

With cancer the leading cause of death in Japan, the health ministry says doctors need to drastically rethink the care they provide so as to make the lives of patients more comfortable.

Specifically, the Ministry of Health, Labor and Welfare wants to encourage doctors to use strong narcotics such as morphine to ease patients' pain. From next fiscal year, health officials will instruct doctors to be more willing to provide such medication.

 

Business & Industry

 

Japan protests China's full-scale development of new gas field in East China Sea

Tokyo has issued a strong protest over China's move to exploit a new gas field in an area of the East China Sea that Japan claims as part of its exclusive economic zone (EEZ).

Officials said the protest was filed Monday after the government confirmed that Chinese engineers had rigged up drilling equipment on a platform in the Bajiaoting gas field.

 

Ministry to increase aid for developing jetliner

The ministry of economy is expected to quadruple its budget request for subsidizing development of the country's first commercial jets.

The Ministry of Economy, Trade and Industry will ask for CNY2bn ($251m) in the fiscal 2007 budget allocations to help domestic companies develop basic technologies for producing a jetliner, officials said.

 

China Daily, China (online edition)

Front page

 

Beijing seeks to ensure official's visit to Taiwan

Beijing said yesterday it is ready to authorize conditional negotiations with Taipei if its top official on cross-Straits affairs is allowed to visit the island.

The move is apparently meant to pave the way for the planned visit by Chen Yunlin, director of the Taiwan Work Office of the Communist Party of China (CPC) Central Committee.

 

Chinese banking reform to be urged

New US Treasury Secretary Henry Paulson will lobby for more foreign competition against China's cossetted banks when he visits the country next month, an official said.

Treasury spokesman Tony Fratto noted that China, under its commitments as a World Trade Organisation member, has until the end of the year to unveil proposals on reform of its heavily protected financial sector.

 

Business & Industry

 

Patent applications increase

China has received over 13,000 patent applications from US patentees in the first half of this year, a large increase compared with the same period in 2005, said the State Intellectual Property Office (SIPO).
“Patent applications from the United States have been increasing by over 20% for three consecutive years, and now account for over 20% of the total applications made by foreign patentees,” said Mao Jinsheng, deputy director of the SIPO's development planning department.

 

China seeks closer int'l cooperation in space industry

China will strengthen cooperation with the international community in the space industry, aiming for the peaceful development of space, a senior Chinese official said here Monday.
China would also seek to expand its share of the international market for satellite launches and other space services, said Jin Zhuanglong, deputy director of the Commission of Science, Technology and Industry for National Defense.

 

Taiwan News, Taiwan (online edition)

Front page

 

Chen reiterates aim of cross-strait peace

President Chen Shui-bian yesterday emphasized the importance of global peace, saying that he is continuously fighting for peace across the Taiwan Strait and trying his best to maintain social stability.

The president made the remarks when he met with visiting United States Congressman Dan Burton and his wife at the Presidential Office to express his gratitude and welcome them on behalf of the Republic of China.

 

PRC must consult with Taiwan before official visits, says MAC

Taiwan's agency in charge of cross-strait affairs yesterday reiterated the need of prior consultations before it can decide whether to allow a Chinese official to visit the island in October.

The Mainland Affairs Council issued the statement yesterday evening in response to a Monday news report by China's Xinhua News Agency that urged Taiwan to permit a planned visit by Chen Yunlin, director of the Communist Party's Taiwan Affairs Office.

 

Business & Industry

 

Trade investigative committee finds China towel imports hurt business

A trade investigative committee of the Ministry of Economic Affairs ruled yesterday that imports of cheap Chinese towels have caused real damage to Taiwan's towel industry.

The ruling will be sent to the Ministry of Finance, which has ten days to decide whether or not to levy anti-dumping duties on the imports.

 

Cross-strait investment ceiling not too harsh, says MOEA

Economic Affairs Minister Chen Ruey-long said yesterday that the current 40% ceiling on investment in China by domestic companies is not too harsh.

Chen made the remarks at a speech delivered to members of the Chinese International Economic Cooperation Association in Taipei, in which he introduced the current situation concerning Taiwan's outbound investment and the Ministry of Economic Affairs' efforts in helping local business people expand their investment abroad.

 

Korea Herald, South Korea (online edition)

Front page

 

PM 'sorry' for gambling fiasco

Prime Minister Han Myeong-sook yesterday apologized for the chaos over the recent gambling scandal and the government's inadequate management of the local gambling industry that contributed to the confusion.

“As the manager of the Cabinet and the country's prime minister, I deeply apologize to the public for their exposure to the harmful gambling environment,” Han said prior to a Cabinet meeting. She pledged to step up efforts to help eradicate the “nationwide addiction to gambling once and for all.”

 

Unemployed youth on rise in Asia: ILO

BUSAN - The International Labor Organization yesterday warned of increasing gaps between economic growth and job creation that left more than 41m young people without jobs in the Asia-Pacific region last year.

“The risk of being unemployed for young people is at least three times higher than that of adults. This is the most worrying aspect of the jobs deficit that has a huge impact on young people,” the UN labor body said in a report released yesterday.

 

Business & Industry

 

Labor strife hobbles output

The nation's industrial output suffered its biggest fall in five months in July as strikes at local carmakers and heavy rainfall hampered production and consumption.

The National Statistical Office said yesterday that monthly industrial production dropped a seasonally adjusted 3.9 % from June, adding to concerns over the ongoing economic slowdown.

 

Prime Group likely to acquire Dong Ah

A consortium led by real estate developer Prime Group is most likely to become the preferred bidder to buy Dong Ah Construction Industrial, a state-run debt restructuring agency which manages the deal said yesterday.

“The consortium of Prime and US-based private equity fund Trident earned the highest points in the bidder assessment,” said an official of the Korea Asset Management Corp. “Daeju Construction received the second highest score.”

 

Business Standard, India (online edition)

Front page

 

DoT prepares to take call on FDI

The department of telecommunication (DoT) has drawn up a proposal that only telecom companies with foreign direct investment (FDI) above 49% have restrictions on foreigners as bosses.

The DoT is preparing two draft Cabinet notes: one based on the directive of the Prime Minister’s Office for excluding telecom companies with FDI up to 49% from the purview of conditions in Press Note 5, and another for laying down uniform terms for security.

 

SEZ rush boosts employment

The rush for setting up special economic zones has spawned a huge demand for manpower to establish and run them. Conservative estimates suggest that 3,000-4,000 management-level jobs will have to be filled in the coming months.

However, headhunters and companies are finding it difficult to appoint people to even top slots like chief executive officer (CEO) and executive vice-president, though salaries are not an issue, with a CEO well in a position to ask and get Rs11,500 ($250,000) a year without eyebrows being raised.

 

Companies & Industry

 

Govt, airlines to address pilot shortage

As shortage of commercial pilots has started thwarting the expansion plans of the domestic airlines, the government and companies are gearing up to meet the challenge. With the airlines adding more than 300 aircraft over three to five years, the country needs 3500 additional pilots.

The government is trying to mitigate the shortage by providing additional training slots. Also, airlines are planning their own training houses, backed by the latest technology, including aircraft simulators.

 

EADS to invest Euro2bn in 15 yrs

The European aerospace major EADS, which owns aircraft maker Airbus Industrie, will invest up to Euro2bn ($2.57bn) in India over the next 15 years to set up an engineering centre in the country as well as to increasing sourcing of software and technology.

This was announced by Tom Enders, chief executive, EADS during his India visit.

 

Business Times, Singapore (online edition)

Front Page

 

Millions at stake for mall operators

Millions of tax dollars hang in the balance as mall operators await a decision by the Court of Appeal on whether spending on advertising and promotion (A&P) can be deducted from rental income.

Landlords saw their hopes dashed last month, when the High Court ruled that A&P expenses beyond those paid to them by tenants cannot be deducted from rent when determining the annual value of a shopping centre, which in turn determines the amount of property tax a landlord has to pay.

 

S'pore credit card billings soar as plastic finds new uses

Wider acceptance and use of credit cards amid buoyant economic growth has driven an increase in billings that has made card issuers bullish about future growth.

The latest preliminary figures from the Monetary Authority of Singapore show credit and charge card billings grew 16.8% year on year in the first half of 2006 to S$8.79bn ($5.59bn).

 

Singapore Companies

 

Wilmar Int'l to build 3 biodiesel plants in Riau

Palm oil producer Wilmar International is rushing to build three palm biodiesel plants in Riau, Indonesia, in a bid to corner the lucrative biodiesel market before competitors move in.

Their combined production capacity of 1.05m tonnes of biodiesel annually when completed in 2007 will make Wilmar the largest regional palm biodiesel producer, and possibly the world, at least for now.

 

Enersave plans third plant in China

Sesdaq-listed China Enersave is out to get a headstart in that country's fledging biomass power sector, with plans to build a third plant costing CNY250m ($31m) in an industrial park in Changyi, Shandong.

The company announced the move yesterday, even before its first two Chinese biomass power projects in Sichuan have got off the ground.

 

Bangkok Post, Thailand (online edition)

Front Page

 

New province to celebrate King's birthday
Interior Minister Air Chief Marshal Kongsak Wanthana has initiated a feasibility study to establish a new province to celebrate the 80th Birthday of His Majesty the King next year.
If it comes to pass, the new province will include three districts--Hua Hin, Pranburi in the country's upper southern province of Prachuap Khiri Khan and Cha-am in nearby Petchaburi Province, as well as a sub-district--Sam Roy Yod--in Prachuap Khiri Khan, Marshal Kongsak said.

 

Korea invited to make vaccine in Thailand
SEOUL - Thailand's Labour Minister Somsak Thepsuthin Tuesday encouraged a South Korean pharmaceuticals manufacturer to invest in developing a bird flu vaccine in Thailand, as it is not allowed to do so in its home territory--still considered a country free of avian influenza.
Mr. Somsak is leading a team of Thai delegates to visit factories in the Republic of Korea while on a mission to assess work environment and treatment of Thai labour.

 

Business & Industry

 

Fiscal budget could face deficit this year

The 2006 fiscal budget could slide into a deficit this year, as revenues to date have fallen short of targets.

Authorities also have trimmed the 2007 budget based on expectations that economic growth would drop to just 3.5% next year, compared with previous estimates of 5%.

 

Mood stays low for fourth month

Business sentiment among Japanese firms operating in Thailand in August remained poor for the fourth straight month, according to the latest poll by the Japanese External Trade Organisation (Jetro).

Over 35% of the 111 companies surveyed said general business sentiment was deteriorating, with 37.8% replying conditions were the same, while 27% reported an improvement. Overall, sentiment fell 8.1 points from the previous month.

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