In Wednesday's Asia Papers

21 May 2008 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

Front page

 

18% tax one way to pay for pensions

The consumption tax rate would have to be raised to up to a mind-boggling 18 percent for the government to fund basic pensions through taxes alone.

 

McDonald's to review pay

McDonald's Co. (Japan) said Tuesday it will pay overtime to about 2,000 employees it categorizes as managers and thus denied compensation for extra hours worked.

 

Business & Industry

 

No new updates.

 

CHINA DAILY, China

Front page

 

Toll passes 40,000, 32,000 still missing

The death toll from last week's quake in Sichuan rose to 40,075 nationwide as of 6 pm on Tuesday, with 247,645 injured, the Information Office of the State Council said on Tuesday.

 

Tents needed as life peg

A senior official on Tuesday reiterated the government's call for more tents to shelter an estimated 5 million people left homeless by the May 12 earthquake.

 

Business & Industry

 

No new updates.

 

TAIPEI TIMES, Taiwan

Front page

 

Ma takes the reins

President Ma Ying-jeou yesterday called for cross-strait negotiation based on the “1992 consensus” in his inaugural address after becoming the nation’s 12th president, and proposed reconciliation and detente.

 

Business community maintains ‘wait-and-see’ view

The National Association of Small and Medium Enterprises yesterday expressed concern over President Ma Ying-jeou’s ability to address issues relating to local small and medium-sized enterprises (SMEs).

 

Business & Industry

 

Taiwan chipmakers' stock jumps

Stock prices of the nation's major computer memory chipmakers outperformed the main bourse yesterday amid speculation on further price rebounds.

 

LCD industry expected to grow: analyst

The liquid-crystal display (LCD) industry is expected to enjoy healthy growth this year and next year, helped by rapidly growing demand for slim-screen televisions, market researcher International Data Corp (IDC) said yesterday.

 

KOREA HERALD, South Korea

Front page

 

Lee, opposition fail to bridge gaps

Last-minute talks between President Lee Myung-bak and opposition leader Sohn Hak-kyu to salvage the Korea-U.S. free trade agreement broke down yesterday, as they remained poles apart over U.S. beef imports.

 

Lee willing to apologize: UDP

President Lee Myung-bak yesterday indicated he would make a public apology over the controversial deal to import U.S. beef and his office's botched communications with the public

 

Business & Industry

 

Samsung chief stresses 'tech management'

Lee Yoon-woo, new chief executive of Samsung Electronics Co., took office yesterday, pledging to keep the company ahead of its global rivals in the rapidly-changing global market.

 

Hyundai Heavy eyes 2nd solar-cell plant

Hyundai Heavy Industries Co., the world's largest shipbuilder, said yesterday that it plans to build a second solar-cell plant with an investment of 300 billion won ($288 million), as part of efforts to diversify revenue sources

 

NEW STRAITS TIMES, Malaysia

Front page

 

Abdullah gets support of Umno MPs

On Monday, former party president Tun Dr Mahathir Mohamad stunned members by announcing that he was quitting the party until his successor Abdullah stepped down.

 

Analysts play down resignation

Although Dr Mahathir branded his decision as "radical, brave and the only way" to revive Umno and dared other members to follow his example, political analysts are calling his bluff.

 

Business & Industry

 

MAS Q1 net profit slips

MALAYSIA Airlines' (MAS) net profit in the first quarter ended March 31 2008 slipped 10 per cent to RM120 million from RM132.7 million in the same quarter a year ago due to fewer air travellers and higher jet fuel prices.

 

Oilcorp revising 2007 audited accounts

OILCORP Bhd, an engineering services firm, may cut its 2007 pre-tax profit figure by 68 per cent due to differences with its auditors on the accounting treatment of a contract.

 

BUSINESS TIMES, Singapore

Front page

 

Rain plays spoilsport for A380 Tokyo debut

Singapore Airlines saw its very first A380 flight land in Tokyo yesterday - but it literally rained on its parade.

 

Foreign unis bet big on a S'pore school

Singapore's private education pie has become tempting enough to lure several foreign universities to plant their colours here.

 

Business & Industry

 

WTO agriculture mediators issue new proposals

Mediators in the core agriculture and industrial goods negotiations at the World Trade Organisation (WTO) issued new proposals on Monday, clearing the way for a meeting of ministers to clinch an outline trade deal.

 

Strikers blockade oil depot in France

French fishermen demanding state aid to cope with soaring fuel costs blockaded France's largest Mediterranean oil depot at Fos-sur-Mer yesterday, escalating a 10-day protest movement.

 

BANGKOK POST, Thailand

Front page

 

Under the bus

PM's Office Minister Jakrapob Penkair is now under fire from all sides after Thaksin Shinawatra demanded he take responsibility for a controversial speech considered by many as an attempt to challenge the royal institution.

 

Taking the green plunge

Rice prices have more than doubled, so paddy in the field means money in the bank or debts paid off. Thai farmers growing organic rice have even more to smile about.

 

Business & Industry

 

Concern grows over local steel shortage

Concern is mounting about a possible steel shortage as demand rises in anticipation of work starting on government megaprojects. As well, global demand would be pushed up by reconstruction following the earthquake in China and the cyclone in Burma.

 

Bigger budget for rail line sought

The Mass Rapid Transit Authority of Thailand (MRTA) has asked the Transport Ministry to lift the reference price for the new Purple rail line by 17% to reflect the rising cost of steel, concrete and building materials.

 

JAKARTA POST, Indonesia

Front page

 

No new updates.

 

Business & Industry

 

No new updates.

By: Staff Reporter
+44 20 8652 3214

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