In Thursday's Asia papers

22 November 2007 01:00  [Source: ICIS news]

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

 

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

 

1st-half profits plunge at 6 big banking groups

The nation's six largest banking groups saw combined net profits plummet by nearly half in the April-September period compared with a year earlier, in part because of the deepening U.S. subprime mortgage loan crisis.

 

Scientists create stem cells from skin

Kyoto University researchers on Wednesday announced groundbreaking success in producing stem cells from human skin instead of human eggs.

 

Business & Industry

 

1st-half profits plunge at 6 big banking groups

The nation's six largest banking groups saw combined net profits plummet by nearly half in the April-September period compared with a year earlier, in part because of the deepening U.S. subprime mortgage loan crisis.

 

2 banks to form broad alliance

Sumitomo Trust & Banking and Aozora Bank announced Tuesday they will form a comprehensive business tie-up in the three fields of real estate, trust and asset management.

 

China Daily, China

Front page

 

China, India to hold joint military exercise

China and India reiterated Wednesday they were ready to take their strategic cooperative partnership to a "new level".

 

Dam impact 'less than predicted'

The environmental impact of the Three Gorges Dam has been less than originally forecast, a senior project official said Wednesday.

 

Business & Industry

 

China to remain 95% grain self-supply
China will remain 95% self-sufficient in grain in the future by expanding both output and reserves, said the country's top economic planning agency.

 

New steps to control investment
The government is to strengthen the management of all new investment projects and will pull the plug on any that do not have appropriate approval.

 

Taipei Times, Taiwan

Front page

 

Oil prices top $99 on supply worries

Crude oil prices rose to a new record above $99 a barrel Wednesday, lifted by worries about inadequate supplies as the Northern Hemisphere enters winter and on news of refinery problems.

 

Japan detains five fingerprinted foreigners at airport

Japan detained five people matched against a blacklist in the first day of its controversial new system to fingerprint all foreigners entering the country, immigration officials said Wednesday.

 

Business & Industry

 

Prime View buys South Korean rival

Taiwanese liquid-crystal-display (LCD) panel maker Prime View International said Wednesday that it had signed a Memorandum of Understanding (MOU) with bankrupt BOE-Hydis Technology to buy a 95% stake in the South Korean firm for New Taiwan dollar (NT$) 9.3bn ($287m).

 

Citadel Equity inks NT$4.55bn building loan

The US-based Citadel Equity Fund secured a four-year NT$4.55bn syndicated loan from nine domestic banks Wednesday to fund its investment in a local commercial property, the Industrial Bank of Taiwan (IBT) said Wednesday.

 

Korea Herald, South Korea

Front page

 

Suspect's wife holds back key evidence

The wife of fraud suspect Kim Kyung-jun Wednesday unveiled documents allegedly incriminating presidential candidate Lee Myung-bak in a high-profile stock-price rigging and embezzlement scheme.

 

Mirae Asset faces regulatory scrutiny

The Financial Supervisory Service looks set to inspect the sales operations and fund management of Mirae Asset Financial Group this month amid growing concerns about its newly launched fund investment product.

 

Business & Industry

 

'China taps N.K. resources, while South lags behind'

While South Korea has been somewhat slow in investing in North Korea due to political complexities, China has been aggressively tapping the North's natural resources, a report said Wednesday.

 

[HERALD INTERVIEW] Dole Korea fulfills corporate social responsibility

When talking about bananas or pineapples, Dole is the brand that comes to mind.

 

New Straits Times, Malaysia

Front page

 

ACA reopens probe on graft claims against lawyer
The Anti-Corruption Agency has reopened the files on allegations of corruption against prominent lawyer Datuk V.K Lingam which were lodged in 1998.

 

Cabinet to discuss matter next week

The cabinet has decided to discuss details of the royal commission of inquiry into the "Lingam" video clip next week.

 

Business & Industry

 

KL mart likely to fall further today
Focus likely to be on small-cap stocks such as audio equipment maker Acoustech and semiconductor equipment maker LKT Industrial, an analyst says.

 

UEM seeks foothold in India
The group is eyeing links with Tata, Reliance and Ansal to bid for infrastructure, construction, property and healthcare jobs, says a source

 

Business Times, Singapore

Front page

 

Hot market smokes out solo land sitesWith the property market running hot, it is not just collective sales that have ballooned. Over the past two years, more residential land sites owned by single owners were sold as well.

 

Landmark Asean pacts reflect significant steps forward: PM Lee

Asean has made significant steps forward with the landmark pacts signed at this week's Summit, Prime Minister Lee Hsien Loong said Wednesday.

 

Business & Industry

 

Jakarta minister orders Telkomsel to appeal

State Minister for State Enterprises Sofyan Djalil has ordered PT Telkomsel to appeal against the ruling that found Indonesia's No 1 cellular operator guilty of price-fixing.

 

Asean bourses make plans to set up common exchange

Six Southeast Asian countries - Singapore, Thailand, Malaysia, the Philippines, Indonesia and Vietnam - will reportedly join forces to set up a common stock exchange late next year.

 

Bangkok Post, Thailand

Front page

 

Thai separatists kill four district officers

Suspected separatists killed four local officials as they drove home in Thailand's strife-torn southern province of Pattani Wednesday and injured another three with a booby trap bomb stuck in the victims' car, police said.

 

Mortgage crisis sends US stocks lower

US stocks tumbled Wednesday after concern grew that home mortgage losses are pushing the economy toward recession.

 

Business & Industry

 

Petrol tax promises face scrutiny

Political campaign promises to cut Oil Fund contributions and fuel taxes could jeopardise the country's economic stability if transformed into policy, Energy Minister Piyasvasti Amranand warned Wednesday. Instead, he said, the new government should focus on developing alternative energy sources, improving energy efficiency and encouraging conservation to help reduce demand for imported fuel.

 

Exports rise 26.7% year-on-year in October

Thai exports for October totalled $14.52bn, representing growth of 26.7% over the year before, when the country had barely recovered from the shock following the 19 Sept coup. Gains were posted in both industrial and agricultural goods, said Rachane Potjanasuntorn, the director-general of the Export Promotion Department.

 

Jakarta Post, Indonesia

Front page

 

Kalla tells scientists to be more creative
Vice President Jusuf Kalla said he wants Indonesian scientists to be more active, especially in the field of new research into food sustainability.

 

Govt says no objection to GEF
With the approaching climate change conference in Bali, the government said it would approve a mechanism proposed by rich nations to finance efforts by developing countries to adapt to climate change.

 

Business & Industry

 

Government asks ADB to remove 'commitment fee'
The government has asked the Asian Development Bank (ADB) to follow the World Bank's lead in reducing borrowing costs paid by developing countries; for example, by doing away with commitment fees, a senior finance ministry official says.

 

Plywood producers in danger: Industry body
With illegal logging of ever-increasing concern, the country's plywood industry has suffered an acute shortage of raw materials, threatening to close almost half of the companies involved in the business.

 

($1= NT$32.35)

 

By: Staff Reporter
+44 20 8652 3214

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