In Wednesday's Asia papers

19 September 2007 02:00  [Source: ICIS news]

SINGAPORE (ICIS news)--These were the top stories at 1:00 GMT in the following Northeast Asia/ Southeast Asia newspapers on Wednesday.

 

These stories have been taken from the Internet editions of the papers. ICIS has not verified these stories and does not vouch for their accuracy.

 

Asahi Shimbun, Japan

Front page

 

As candidates make rounds, 25 Sept picked for Diet vote

On 25 Sept, Japan will have a new prime minister.

 

University presidents to decide when students will enroll

To encourage universities to switch to a September-August school year system, the education ministry plans to abolish the principle of starting the school year in April under the School Education Law.

 

Business & Industry

 

Toshiba to sell Ginza property for chips

Toshiba will sell off a piece of valuable real estate in Tokyo's Ginza district to focus on its semiconductor chip operations, sources said on Tuesday.

 

Steelmakers woo loyal stockholders

With global realignment of the steel industry pressing down, Japan's major steelmakers are trying everything to prevent their shareholders from selling to hostile takeover groups.

 

China Daily, China

Front page

 

Ban: Taiwan's bid for UN legally impossible

UN Secretary-General Ban Ki-moon stressed on Tuesday that Taiwan's bid to apply for UN membership is legally impossible.

 

Wipha lands in Zhejiang, 2m evacuated

More than 2m people have been relocated before the landfall of Wipha, which might be the most destructive typhoon in a decade.

 

Business & Industry

 

Economist: China can evade US subprime debt crisis
The subprime mortgage crisis in the United States has had limited impact on China's economic entity, according to two economists.

 

New rules on major asset restructuring released
China's securities regulator Monday issued new draft rules governing major asset restructuring by listed companies.

 

Taipei Times, Taiwan

Front page

 

Approaching storm sparks alerts

The Central Weather Bureau Monday issued land and sea warnings for Typhoon Wipha, the region's 12th typhoon this year, as it approached northern Taiwan.

 

Police arrest O.J. Simpson over Las Vegas hotel `heist'

Police arrested O.J. Simpson, saying he was part of an armed group who burst into a Las Vegas hotel room and snatched memorabilia that documented his own sports career, long ago eclipsed by scandal.

 

Business & Industry

 

Greenspan sees trouble ahead

The fall in US house prices triggered by the subprime credit crisis will likely be bigger than expected, former US Federal Reserve chairman Alan Greenspan warned in an interview published Monday.

 

Capital helps LCD panel maker

With new capital from US private equity fund Wargurg Pincus LLC, struggling Chunghwa Picture Tubes will be able to remain operational for a while, but analysts said Monday that the measure was a short-term bailout and hoped to see more aggressive restructuring efforts.

 

Korea Herald, South Korea

Front page

 

Former Roh aide grilled over bribery scandal

Prosecutors Tuesday questioned Jeong Yoon-jae, former protocol secretary to President Roh Moo-hyun, over suspicions that he received tens of millions of won from a construction company owner, in return for business favors.

 

Conscientious military objectors will get option of alternative duty

Alternative forms of duty will be permitted to conscientious objectors, who refuse mandatory military service due to their religious conviction, as early as 2009, the Defense Ministry said Tuesday.

 

Business & Industry

 

Oil spike may spur inflation next year

The rise in crude oil prices, and domestic demand caused by the country's economic recovery, could fuel a sharp rise in consumer prices next year, the Bank of Korea warned yesterday. The bank said that next year, the inflation rate for consumer goods is likely to rise to around 3% from the 2.3% projected for this year.

 

Experts, policymakers upbeat about economy

Policymakers and economists recently issued more optimistic outlooks on the Korean economy as consumption and facility investment is recovering faster than expected.

 

New Straits Times, Malaysia

Front page

 

How could anyone do this? Is it the work of a serial molester?

The only thing police have on her is her picture in death. And while the authorities are trying to discover her identity, public outrage is growing at the sadistic killing of this child.

 

And where in the world is Nurin?

The search for Nurin Jazlin Jazimin has intensified. The RHB Banking Group has mobilised its branches in the Klang Valley to help locate the missing child by distributing leaflets with her photo including relevant phone numbers to call.

 

Business & Industry

 

Europe Roundup: Shares rally

European shares rallied Tuesday ahead of a widely expected US rate cut, led by banks after Lehman Brothers' earnings soothed some concern about the impact of the credit crunch on corporate profits.

 

StanChart buys American Express Bank

Asia-focused bank Standard Chartered Plc (StanChart) said Tuesday it is buying American Express Bank (AEB) for about $860m ($1 = ringgit M$3.49) to help "turbo charge" the growth of its recently launched private banking business.

 

Business Times, Singapore

Front page

 

Fed slashes US interest rates to buffer economy

The Federal Reserve on Tuesday slashed US interest rates by a hefty half-percentage point in a bold bid to shield the economy from a housing slump and financial turbulence, sparking a big rally on Wall Street.

 

Wall St rallies as Fed makes bold rate decision

US stocks jumped the most since 2003 on Tuesday after the Federal Reserve slashed interest rates and raised hopes the economy could ride out a prolonged housing slump and turmoil in the credit market.

 

Business & Industry

 

Oil hits new high of above $82 after Fed rate cut

Oil surged to a peak over $82 a barrel on Tuesday, the fifth record in as many trading days, as a US Federal Reserve decision to slash interest rates heightened concerns of a winter supply squeeze in the world's top energy consumer.

 

Murdoch makes case for free WSJ online

News chief Rupert Murdoch on Tuesday sketched out early plans for Dow Jones & Co., saying he leaned toward making the online Wall Street Journal free but had not yet made a decision.

 

Bangkok Post, Thailand

Front page

 

Airline chief defends pilot of doomed Phuket flight

The Indonesian pilot of the no-frills jet that crashed and killed 89 people on the resort island of Phuket over the weekend was defended Tuesday as a calm, experienced commander by the chairman of One-Two-Go Airlines that operated the plane.

 

Wind shear alert was down

Systems to detect dangerous winds at Phuket international airport have emerged as a new factor possibly linked to the horrendous crash of the One-Two-Go flight on Sunday.

 

Business & Industry

 

Esprit counters new brands with price cut

Esprit, a major San Francisco-based fashion company, has cut the prices of its apparel by up to 25% for the first time in 19 years to cope with intense competition and a decline in consumers' purchasing power. Competition in the baht (Bt) 30bn ($933m) local fashion apparel market has intensified over the past few years as more international brands have entered Thailand, according to Mathew Kichodhan, chief operating officer of Minor Corporation Plc, the importer and distributor of Esprit.

 

Crude prices surge to record $81/barrel

Crude prices jumped to a new all-time high of more than $81 a barrel Tuesday, and analysts said they may jump to $85 by the end of the year. Light, sweet crude contracts for October delivery rose to as high as $81.24 per barrel in intraday electronic trade on the New York Mercantile Exchange, fuelled by expectations that an interest rate cut by the US Federal Reserve would help boost economic growth and oil demand.

 

Jakarta Post, Indonesia

Front page

 

House urges government to cancel defense pact

The House of Representatives reiterated its stance asking the government to cancel the Indonesia-Singapore Defense Cooperation Agreement (DCA) on Monday after Singapore submitted it to its parliament for ratification before details had been finalized.

 

Govt's reform programs under fire

The House of Representatives' Commission II overseeing home affairs criticized Monday the government's 2008 programs to reform the bureaucracy, saying they were too ambitious, too late to fight corruption and too overdue to improve public services.

 

Business & Industry

 

ADB revises up RI growth forecast to 6.2%

Indonesia's economy is expected to register higher growth this year and ahead as a revival in domestic demand continues to drive more consumption and investment, the Asian Development Bank (ADB) says in its latest economic outlook.

 

Fuel subsidy spending pegged lower
The government and House of Representatives agreed Monday to cut next year's fuel subsidy spending estimate by almost rupiah (Rp) 1trn ($107m), thanks to the program substituting liquid petroleum gas (LPG) for highly subsidized kerosene.

 

 

($1= Bt32.14, Rp9,389.30)

 


By: Staff Reporter
+44 20 8652 3214



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