In Friday's Asia papers

21 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 Friday.

 

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

 

Tokyo police chief punished for cop's killing

Tokyo's top police official was disciplined Thursday--but will not resign--over an officer's fatal shooting of a woman he had stalked, a case that shattered public trust in law enforcement.

 

U.N. draft includes thanks for MSDF

This year's proposed United Nations Security Council resolution on Afghanistan includes for the first time words of gratitude to countries, including Japan, for their anti-terrorism activities in the Indian Ocean.

 

Business & Industry

 

Sharp, Pioneer plan capital alliance

Sharp and Pioneer announced Thursday the two will form comprehensive capital and operational alliances.

 

UFJ Nicos to cut 40% of work force, forecasts yen (Y) 100bn ($861m) loss

Mitsubishi UFJ Nicos said Thursday it will shed more than 2,000 workers, or 40% of its payroll, as it struggles to repay customers who were charged excessive interest rates on their loans.

 

China Daily, China

Front page

 

China beats N. Zealand 2-0 to advance to quarters

Li Jie and Xie Caixia scored in the second half Thursday to lead China to a 2-0 win over New Zealand, setting up a quarterfinal matchup against Norway.

 

Tycoon buys looted treasure for nation

Macao tycoon Stanley Ho Hung-sun bought a bronze horse head plundered by foreign troops for $8.84m and donated it to the nation.

 

Business & Industry

 

China may raise interest rates despite US cut
The cut in the US interest rates would not stop China's interest rate hike if inflation does not ease, said an expert from Morgan Stanley.

 

Central SOEs return yuan (CNY) 17bn ($2.2bn) from 2006 profits
China will collect an estimated 17bn yuan after-tax profits from central state-owned enterprises, in a trial return of profits from SOEs.

 

Taipei Times, Taiwan

Front page

 

Federal Reserve slashes base rate

The Federal Reserve slashed its base federal funds rate by a half point on Tuesday to 4.75%, in what analysts called a bold move to stimulate an economy imperiled by housing and credit market stress.

 

US official says Russian, Chinese spying a concern

The top US intelligence official is citing spying by China and Russia as he tries to persuade Congress not to roll back an anti-terrorism law that enhances the government's ability to intercept foreign calls and e-mail.

 

Business & Industry

 

Insurance stocks up on US Fed cut

Insurance stocks closed higher Wednesday as the US Federal Reserve's first rate cut in four years prompted market speculation that prices of insurers' NT dollar-dominated assets could rise while insurers may shift focus from US-dollar assets to local assets.

 

Chunghwa, Nokia test Visa handsets

Nokia Oyj, the world's largest mobile phone maker, and Chunghwa Telecom will test technology that allows subscribers to use their handsets as Visa payment cards.

 

Korea Herald, South Korea

Front page

 

Budget bill calls for 7.9% rise in 2008

The government announced Thursday that its budget plan for next year requires public spending to rise by 7.9%, as the country steps up funding for education and social welfare projects. The proposal is subject to approval by the National Assembly.

 

Guessing game grows as Sohn cancels itinerary

Liberal presidential hopeful Sohn Hak-kyu cancelled all his official appointments since Wednesday, stoking speculation he may boycott the presidential primary of the United New Democratic Party.

 

Business & Industry

 

Korea remains on emerging market list

Korea will remain on the Financial Times Stock Exchange Group's watch list for developed market status, and will continue to be assessed for the next 12 months, the FTSE announced here Thursday. FTSE expected to promote Korea next year.

 

Rising M&A stars: Doosan, Hyosung

This is the second of an occasional series on mergers and acquisitions focusing on Korean companies' strategies and market environment.

 

New Straits Times, Malaysia

Front page

 

She is Nurin - New leads in search for girl's murderers

Police have new leads in the murder of 8-year-old Nurin Jazlin Jazimin and are expected to make arrests soon.

 

Council offers reward

A reward is being offered by the local authority to anyone who knows the culprit who dumped more than 100 tonnes of foul smelling organic waste at four sites.

 

Business & Industry

 

Markets dip

Europe's main stock markets dipped Thursday on profit-taking after surging the previous day in the wake of a deep US interest rate cut.

 

CPO futures lower on supply concerns

Crude palm oil futures prices on Bursa Malaysia Derivatives Bhd closed lower Thursday amid concern that supplies will increase due to the growing seasonal production, dealers said.

 

Business Times, Singapore

Front page

 

Steep rates likely for F1 trackside hotel rooms

Corporations preparing to entertain their guests at trackside hotels during the Singapore Formula One Grand Prix in September next year may have to dig deep into their pockets.

 

Horizon Towers resolution may be in sight

There may finally be a resolution, of sorts, for the long-running Horizon Towers saga.

 

Business & Industry

 

Singapore SMEs spread their wings

Singapore's small and medium-sized firms are increasingly striking out beyond its borders, according to the latest SME Development Survey conducted by DP Information Group (DP Info).

 

Bernanke offers markets fresh assurances

Federal Reserve chairman Ben Bernanke told Congress on Thursday that the credit crisis has created 'significant market stress' and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.

 

Bangkok Post, Thailand

Front page

 

Hmong to be sent back to Laos

About 8,000 Hmong refugees living in Thailand are to be repatriated within 12 months to Laos, the two countries announced Thursday, despite warnings from human rights groups that the refugees faced persecution back home.

 

Thaksin on the coup

I awoke on the morning of 19 Sept last year to the news that my government - and Thailand's democratic constitution - had been overthrown in a military coup. The coup came as a shock to me and to most Thais.

 

Business & Industry

 

Economy set to grow next year, despite expected risks

While the Thai economy looks set to improve in 2008 thanks to a recovery in domestic demand and investment, market volatility and uncertainties remain key risks, says Bank of Thailand governor Tarisa Watanagase.

 

After 40 years, Betagro to list on SET in 2008

Betagro, one of Thailand's major agricultural groups, has celebrated its 40th anniversary by announcing plans to list on the Stock Exchange of Thailand next year to help raise funds for the expansion of its food and farm businesses.

 

Jakarta Post, Indonesia

Front page

 

Inform the people or face the law, BPK tells court
The Supreme Audit Agency said it is seeking legal advice from the Constitutional Court over the Supreme Court's refusal to allow a 2005-2006 annual administrative management report to be audited by the agency.

 

BRR accused of deceit with funds
The organization responsible for much of the reconstruction work in the 2004-tsunami-devastated areas of Aceh and Nias has been accused of mishandling funds and deceiving the public after it allegedly allocated $239.8m of its 2006 budget to trust funds.

 

Business & Industry

 

Court asked to reject challenge to oil law
The government urged the Constitutional Court on Wednesday to reject a petition brought by a number of members of the House of Representatives to have an article of the 2004 Oil and Gas Law struck down.

 

Indocement to raise production capacity to 20m tonnes by 2009
To help meet rising local demand, publicly listed cement producer PT Indocement Tunggal Prakarsa is set to gradually increase its production capacity to 20m tonnes a year by 2009 by expanding the capacity of its existing plant in Citeureup, West Java.

 

($1= Y116.06, CNY7.51)

 


By: Staff Reporter
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly