05 September 2006 02:40 [Source: ICIS news]
Skipper Noboru Sakashita, 59, of the No 31 Kisshin Maru, was indicted by the Yuzhno-Kurilsk regional prosecutors office.
Electrical group aims to lighten
To help curb
The project, to be conducted by the Japan Electrical Manufacturers' Association (JEMA) in conjunction with Chinese authorities, is due to start next year. It will be the first of its kind in the world, a JEMA official said.
Business & Industry
Keidanren leader to meet
While energy and environmental issues are expected to dominate the agenda, Japanese political and business leaders are watching for Wen's remarks on bilateral relations and the successor to Prime Minister Junichiro Koizumi.
Moneylending revisions to clarify interest rate obligations, but loophole to remain for 3 years
The Financial Services Agency plans to revise moneylending laws to deal with exorbitant annual interest rates pushed on desperate borrowers. But critics say the first phase of the changes will tilt in favor of the lenders for at least three years.
The revisions were planned after numerous complaints about “gray-zone” interest rates stemming from differences in the ceilings of two separate laws.
Property policy to deter overseas speculators
The Chinese government continues to rein in overseas speculators in the country's property market, as it is now requiring foreigners to get approval before they send funds out of the country that were earned from selling houses.
According to a circular on management over foreign investment in China's housing sector, which was jointly released by the State Administration of Foreign Exchange (SAFE) and the Ministry of Construction, overseas investors who want to take over or acquire stakes in Chinese property companies will come up with the full purchase price.
Minister of Commerce Bo Xilai promised yesterday that
At a ceremony to mark
Business & Industry
The figure, which excludes investment in the financial sector, rose 123% over that of 2004, the ministry said in a statistical bulletin on
Tariff policy to play key role in macro control
“Tariff policies must be used to stimulate the transformation of the economic growth model and restructure industry,” Zhu said at a national conference on tariff policy over the weekend.
President Chen Shui-bian and the heads of state or government of
The declaration was signed after a day of discussions on developing government capabilities, eight cooperation fields and a new regional “alliance” to improve health and medical standards.
'Spiritual fortress' plan rejected
The Taipei City Department of Cultural Affairs has turned down an application from organizers of an anti-corruption campaign against President Chen Shui-bian to set up a so-called “spiritual fortress” around a historic site in downtown
The department made the decision after consulting with officials from the Cabinet-level Council for Cultural Affairs and other agencies in charge of the preservation of historical relics.
Business & Industry
Tech stocks gain on upbeat profit expectations
The bellwether tech sector was firmer on expectations of improved corporate earnings in the current quarter as the industry gears up for its traditionally strong performance in the run-up to the Christmas shopping season, they said.
Quanta may buy up to 5 parts makers to cut costs
The company has set aside NT$1bn ($30m) for acquisitions this year and twice that amount for next year, Chief Financial Officer Tim Li said in a telephone interview on 1 September. He declined to name companies involved in negotiations.
Power union ends strike
Unionized workers at the country's five power companies ended their strike yesterday, about 15 hours after they staged an illegal walkout demanding better working conditions.
Workers are returning to work today, said Jung Hong-sub, vice president of the Korea Power Plant Industry Union.
Auditors zero in on key players in gaming scandal
State auditors yesterday began an extraordinary probe into four key protagonists of the recent gaming scandal.
Under investigation are the Ministry of Culture and Tourism, the Korea Media Rating Board, the Korea Game Development and Promotion Institute and Seoul Guarantee Insurance.
Business & Industry
Foreigners spend less in
Foreigners spent the least amount in nine years in Korea as the stronger Korean won increasingly pared off their buying power in recent months, central bank data showed yesterday.
The Bank of Korea said foreign tourists and nonresident business travelers consumed around Won1.92trn ($2bn) in the first half of the year, down 4% from a year earlier.
Shipyard earnings to surge until 2008
Korean shipbuilders' earnings are forecast to improve through 2008 as the tight supply and demand balance allows them to pass on rising costs, said US-based investment bank Lehman Brothers in a report.
Lehman expects earnings at the shipyards to report a 64% growth over the 2006-08 period as revived interest in container ship investment amid continued demand for tankers and gas carriers is increasingly making global shipbuilding a seller's market.
Tatas to babysit technology firms
Tata Industries will pick up between 10% and 26% equity, in the initial phase, in companies it has identified in the emerging areas of technology.
The plan is to fund such companies for the next 5-10 years, so that at least three or four of them are able to scale up as mega businesses.
TCS may clinch $200m
Tata Consultancy Services (TCS) is close to clinching a $200m core banking solution contract from Bank of China — the second largest banking entity in
“TCS and Bank of China have signed a deal, and are expected to announce it soon,” a source close to the development told Business Standard here today. TCS executives declined to comment on the deal.
Companies & Industry
Biotech revolution: Dept shortlists 12 novel projects
Department of Biotechnology is considering 12 novel research projects, initiated by leading bitechnology companies, in the country under the second round of Small Business Innovation Research Initiative (SBIRI) funding.
The projects shortlisted for the second round of SIBRI funding include some pathbreaking technology initiatives of Bangalore-based Avesthagen, USV Limited, Bharat Serum and the Hyderabad-based Bharat Biotech.
HLL's second shot at ayurveda
Hindustan Lever is having another go at retailing ayurveda in a bottle. After transferring the Ayush Spa range from the retail shelves to the direct selling network the onus, this time around, is on the Fair & Lovely brand.
The company has launched a range of products like body lotion, body pack and face pack under the Fair and Lovely Ayurvedic Fairness brand.
M'sian report on opening up of KL-S'pore air sector soon
Chemoil set to launch S'pore IPO this month
Chemoil Energy, which market players expect will raise between $400m and $500m, looks set to launch its initial public offering (IPO) towards the end of this month as the company lodged its preliminary prospectus with the Monetary Authority of Singapore (MAS) yesterday.
Chemoil will be selling 382.2m shares, comprising new and vendor shares by way of an international placement and a
S&P coverage on 14 stocks
Standard & Poor's Equity Research has initiated coverage on 14 stocks under the SGX-MAS Research Incentive Scheme, with seven 'buy' or 'strong buy' recommendations among them.
The 'strong buy' stocks are LMA International, Pacific Healthcare Holdings and SNP Corporation, while those with a 'buy' call are Freight Links Express Holdings, Genting International, Jackspeed Corporation and Sunpower Group.
Kongsak opposes talks with PULO
Thailand's Interior Minister Kongsak Wanthana on Monday said he opposed a bid by the Muslim extremist group Pattani United Liberation Organisation (PULO) to negotiate peace in the country's deep South, saying that the unrest remains an internal affair, and that negotiation was out of question.
Air Chief Marshal Kongsak said that PULO is not part of the kingdom's internal affairs, and that its offer was aimed only at gaining recognition in the region.
Asia-Europe summit to focus on
Brussels/Berlin (dpa) - Global security issues, including joint Asia-Europe counter-terror measures, nuclear tensions with
The 10-11 September gathering, bringing together leaders from 13 Asian and 25 European Union states - plus the European Commission - is also expected to take decisions on widening ASEM membership to bring in more Asian and European states.
Business & Industry
Benefits sought for southern firms
The three southern border provinces should be developed into a special economic zone to help existing companies and draw new investment, according to local industry leaders.
Soft loans, tax waivers and new investment funds should be offered to businesses in Yala, Pattani and Narathiwat to help spur growth in the area, the joint standing committee on commerce, industry and banking of the three groups said yesterday.
NESDB cuts forecast range
The National Economic and Social Development Board yesterday cut its economic growth forecast for the year to between 4.2% and 4.7%, down slightly from 4.2-4.9% in its last forecast. The revision followed the release of data showing the economy grew by 4.9% in the second quarter from the year before, down sharply from 6.1% in the first quarter.
The NESDB said slowing growth reflected poor private investment and consumption, expensive fuel prices and rising interest rates.
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