In Tuesday's Asia papers

09 September 2008 01:45  [Source: ICIS news]

ASAHI SHIMBUN, Japan

 

Front page

 

Police puzzled over pair of skulls

Police are scratching their heads over two skulls found in a mountainous area here about a month ago, saying they do not know if foul play was involved.

 

Sumo boss Kitanoumi quits after Russians fail pot test

The head of the Japan Sumo Association resigned Monday as a show of responsibility for two Russian wrestlers who twice tested positive for marijuana use.

 

Business & Industry

 

No new updates

 

CHINA DAILY, China

 

Front page

 

China-Africa Development Fund grants $90M

The China-Africa Development Fund (CAD Fund) has granted six investment projects involving more than $90 million since it was established in June last year, said a CAD Fund executive on Monday.

 

Corrupt officials face conviction abroad

Corrupt officials who flee the country are more likely to be convicted overseas as the government seeks closer judicial cooperation with more nations, procuratorial officials and legal experts said Monday.

 

Business & Industry

 

US bailout 'positive' move for markets - analysts

The government takeover of beleaguered mortgage finance giants Fannie Mae and Freddie Mac will benefit its debt holders, but could pose questions for major holders of US treasury bonds, such as China and Japan, analysts said.

 

TAIPEI TIMES, Taiwan

 

Front page

 

MOF considers halving stock tax

Minister of Finance Lee Sush-der confirmed yesterday the government is considering slashing the stock transaction tax in an attempt to boost the stock market after it plunged 11 percent, or 783.83 points, last week.

 

Hong Kong pro-democracy element retains veto power

Hong Kong’s pro-democracy element breathed a sigh of relief yesterday after retaining the key power to veto constitutional reforms following the city’s legislative elections

 

Business & Industry

 

Taiwan to ease buyback regulations

Taiwan intends to ease rules on share buybacks for financial firms including Cathay Financial Holding Co Mega Financial Holdings Co after its benchmark equity index last week posted the biggest drop in seven years.

 

TAIEX rises sharply on news of stimulus package

Shares soared yesterday as investors took cue from a planned government package to stimulate the sagging economy.

 

KOREA HERALD, South Korea

 

Front page

 

Stocks, won rally, dispelling crisis fears

Stocks and the won rallied yesterday, buoyed by the U.S. government's plans to rescue its two gigantic mortgage lenders, which raised expectations about investors' return to the local markets.

 

Regulator hints at approving KEB sale

Korea's top financial regulator said yesterday that he sees no major problems with approving HSBC Holdings Plc's acquisition of Korea Exchange Bank.

 

Business & Industry

 

U.S. mortgage rescue helps calm markets

The U.S. government's decision to place Fannie Mae and Freddie Mac under federal control has helped calm Korean financial markets, as credit risks in the U.S. mortgage and financial markets have eased, experts here said yesterday.

 

Bank of Korea says its Fannie, Freddie investments are 'safe'

The Bank of Korea said that its investments in senior bonds issued by U.S. mortgage-finance companies Fannie Mae and Freddie Mac are safe, and it will have no problem in recovering its principal investments and interest.

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Abdullah: Reforms not forgotten

Prime Minister Datuk Seri Abdullah Ahmad Badawi last night vowed that he would aggressively pursue his agenda for development despite the volatile political climate now.

 

BN leaders gather to solve tricky problems

Key representatives of Barisan Nasional will meet here today and facing them are a myriad of issues which may sap their stamina and solidarity.

 

Business & Industry

 

HLeBroking: Foreign funds outflow worrying

The effects of the outflow of funds - a total of RM125 billion in the first half of this year - can be seen from the selling out of Malaysian bonds and the ringgit, says the research firm

 

Proton agrees to boost Saga output

In view of a waiting list of between two and three months, the Malaysian carmaker will rev up the output of the new Saga to 8,000 units a month

 

BUSINESS TIMES, Singapore

 

Front page

 

Further unrest set to harm credit rating

THAILAND is 'running out of options' to solve its political crisis as fears of violence threaten its credit rating and hamper investment, ratings agencies said yesterday.

 

Opec worries about supply, no output change seen

Opec ministers on Monday voiced concern about swelling supplies after oil prices touched a five-month low, but they stopped short of calling for immediate action to change output targets.

 

Business & Industry

 

Citi veteran to head firm's S'pore business

FOLLOWING a revamp of Citi's Asia-Pacific operations, the head of Citi's business in Singapore has moved up the ranks to head the regional business, while the head of Citibank Singapore - Citi's consumer banking arm - has taken over his role.

 

Wellness chain True Group expanding abroad

SINGAPORE has long been exporting food concepts to the region, but one home- grown fitness group is balancing the scales somewhat by expanding its fitness brand overseas.

 

BANGKOK POST, Thailand

 

Front page

 

Court case threatens PM's UN trip

Prime Minister Samak Sundaravej yesterday asked the Appeals Court to postpone the reading of the verdict on his appeal in a defamation case, only to find he would have to appear before the court to find out for himself if his request was granted.

 

Thai shares jump 3.07% on regional rebound

Despite Thailand's ongoing political crisis, its stock market jumped 3.07 per cent Monday, boosted by the US government's takeover of mortgage giants Fannie Mae and Freddie Mac and growing optimism about the world economy.

 

Business & Industry

 

UNCTAD chief confident of economic fundamentals

The Thai economy remains strong and able to continue growing in the long run despite the short-term impact of the current political turmoil, according to United Nations Conference on Trade and Development (UNCTAD) secretary-general Supachai Panichpakdi.

 

JAKARTA POST, Indonesia

 

Front page

 

Oil edges higher with Ike still aiming for Gulf

Crude oil prices finished modestly higher Monday, but only after seesawing wildly as nervous traders watched Hurricane Ike approach the Gulf of Mexico's oil and gas facilities.

 

Russia prepares to launch Iran's nuclear plant

The Russian state-run company building Iran's first nuclear plant said Monday that preparations for the reactor's launch had entered their final stage.

 

Business & Industry

 

No new updates 


By: Staff Reporter
+44 20 8652 3214



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