In Friday's Asia papers

12 September 2008 02:00 [Source: ICIS news]

Front page

Year-end pullout for ASDF in Iraq

The government intends to terminate its military airlift mission in Iraq by the end of this year, officials said Thursday.

Dam project gets a big no in Kumamoto

The governor of this southern prefecture of Kumamoto dealt a blow Thursday to a state-planned public works project by refusing to approve construction of a huge dam across the Kawabegawa river.

Business & Industry

No new updates

CHINA DAILY, China

Front page

Sanlu to recall milk powder as baby dies

The Sanlu Group recalled about 700 tons of its baby milk food, as one of the infants diagnosed with kidney stones after being fed the food died in Gansu province Thursday.

US marks 7th anniversary of 9/11 terrorist attacks

Relatives of victims killed at the World Trade Center arrived at dawn Thursday for ceremonies that will commemorate the seventh anniversary of the Sept. 11 attacks and bring both presidential candidates to ground zero later in the day.

Business & Industry

China may cut its dollar holdings - CICC

China, which holds a fifth of its currency reserves in Fannie Mae and Freddie Mac debt, may cut the portion held in US dollars, according to China International Capital Corp (CICC), one of the nation's biggest investment banks.

TAIPEI TIMES, Taiwan

Front page

Cabinet unveils economic measures to boost growth

The Cabinet yesterday unveiled a NT$180.9 billion (US$5.6 billion) package of measures to lift the sagging economy, but said it had not yet calculated how much it would contribute to annual economic growth.

The 10 major measures to prop up the nation’s economy

A brief description of each of the 10 major economic measures announced by the Cabinet yesterday.

Business & Industry

Fitch lowers economic forecast

Fitch Ratings yesterday revised its forecast for the nation’s economic growth to 4.3 percent for this year from 4.7 percent on slowing industrial production and exports, and to 4.8 percent for next year.

NT dollar drops to seven-month low on outflows

The strengthening US dollar and continued foreign capital outflows have caused the NT dollar to weaken, breaking through the NT$32 level to a new seven-month low yesterday.

KOREA HERALD, South Korea

Front page

Nuke negotiators hold breath on N.K. situation

As focus remained on the health of North Korean leader Kim Jong-il who reportedly suffered a stroke last month, Washington and Seoul yesterday tuned into what affects it could have on the stalemated nuclear negotiation and strained inter-Korean relations.

BOK says market instability may persist

The Bank of Korea yesterday kept the key interest rate at an eight-year high of 5.25 percent for September, emphasizing that instability in financial markets may continue for some time.

Business & Industry

W3 trillion set aside for green growth

Korea plans to invest 3 trillion won in the next five years in environment and energy-related industries, in order to realize President Lee Myung-bak's recently unveiled vision for "low carbon, green growth."

Approval of KEB buyout unlikely this month

Regulatory approval of HSBC's $6.3 billion takeover offer for Korea Exchange Bank will likely not happen within the month, Korea's top regulator said yesterday.

NEW STRAITS TIMES, Malaysia

Front page

Penang govt wants 'illegal' National Service camp closed

Chief Minister Lim Guan Eng, who made the startling revelation yesterday, said since the structure was unsafe, he would direct Penang Island Municipal Council president Datuk Zainal Rahim Seman to close down the camp.

State calls halt on two hill projects

GLM Property Development Sdn Bhd, which is developing the upmarket Surin Bolton Apartments project, and Taman Ratu Developers Sdn Bhd, which is developing the Beverly Hills project, were issued the orders on Wednesday.

Business & Industry

Malaysia scraps IPP windfall tax

Independent power producers will instead make a one-off payment that will be equivalent to the windfall tax for one year, says the Finance Ministry

Malaysia to be Asian hub for Mitsui copper foils

Mitsui's new RM500 million Shah Alam plant will strengthen its Asian market position and boost market share to 70 per cent from 50 per cent, says its chief

BUSINESS TIMES, Singapore

Front page

No primary dealer borrowed from Fed facility in week

Primary dealers borrowed nothing in the latest week from a Federal Reserve facility to provide cheap money, which surprised some analysts who had been watching to see if embattled investment bank Lehman Brothers would resort to this funding.

ECB's Wellink sees risk of euro zone recession

There is a risk the euro zone economy will suffer a recession, after already seeing growth contract in the second quarter, a member of the European Central Bank (ECB) Governing Council said on Thursday, though he cautioned against too much emphasis on statistics.

Business & Industry

Semicon industry bullish about 2009

SINGAPORE'S semiconductor association, Midas, is very bullish about the industry's performance next year which it predicts will be a year of growth.

Fresh hope for cardiovascular patients with new drug

A MEDICAL trial has confirmed that a drug that lowers blood pressure reduces the risk of cardiovascular death, heart attack and stroke by 13 per cent in high-risk patients who cannot tolerate standard treatment.

BANGKOK POST, Thailand

Front page

Army chief backs unity government

Army chief Gen Anupong Paojinda has backed the idea of a national unity government floated by the Democrat party and suggested the emergency decree should also be lifted.

Foreign arrivals drop sharply due to political turmoil

Current political turmoil has already affected tourism both in the short- and medium-term, with the number of international arrivals having fallen by 70 per cent, according to the Thai Tourism Services Association.

Business & Industry

Samak reports dismay leaders

Leading businessmen expressed disappointment at reports that Samak Sundaravej could return as prime minister, a move that would likely prolong the current standoff with anti-government protesters under the People's Alliance for Democracy.

State enterprise unions undecided on new strikes

State enterprise workers have not yet decided whether to resume strikes in the event that Samak Sundaravej returns as prime minister, says Sirichai Mai-ngam of the State Enterprise Labour Relations Confederation.

JAKARTA POST, Indonesia

Front page

Venezuela's Chavez: new coup plot discovered

President Hugo Chavez said his government has uncovered a plot to overthrow him and detained a group of alleged conspirators.

Police arrest Kanye West at LA airport

Kanye West and one of his bodyguards were arrested Thursday at Los Angeles International Airport after an altercation with paparazzi in which the rapper allegedly smashed a camera on the floor.

Business & Industry

No new updates

By: Staff Reporter
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