In Thursday's Asia papers

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

ASAHI SHIMBUN, Japan

 

Front page

 

Lehman failure rocks Japanese financiers

Japanese financial institutions that have lent billions of yen to U.S. securities house Lehman Brothers are bracing for losses from its collapse.

 

Business & Industry

 

No new updates

 

CHINA DAILY, China http://www.chinadaily.com.cn/

Front page

 

Beijing bids goodbye to the Games

People may be forgiven for switching on their TV sets today to catch something on the Paralympic Games. Many are known to have done that the day after the Olympics ended to catch Olympic action.

 

Business & Industry

 

 No new updates

 

TAIPEI TIMES, Taiwan

 

Front page

 

Fed forges rescue of reeling AIG

The US Federal Reserve on Tuesday forged an extraordinary US$85 billion rescue of insurance giant American International Group Inc (AIG), offering a respite from two days of chaos in the US financial system.

 

New Thai PM appeals to public for reconciliation

A brother-in-law of ousted Thai prime minister Thaksin Shinawatra was elected Thai prime minister by parliament yesterday, but faced immediate opposition from protesters who vowed to force him from office

 

Business & Industry

 

Amtran says shipments may grow 30% next year

Amtran Technology Co Ltd which manufactures flat-panel televisions for Vizio Inc, the US’ No. 3 TV producer, yesterday said shipments may grow 30 percent to 5.2 million units next year as a result of growing demand for high-definition TVs and new orders.

 

Nan Shan Life downplays risk to nation’s investors

Nan Shan Life Insurance Co, a local subsidiary of American International Group Inc (AIG), yesterday denied reports by the Chinese-language media that “hundreds” of policyholders had decided to terminate their insurance contracts because of worries about its troubled US parent company

 

KOREA HERALD, South Korea

 

Front page

 

Stocks, won resume rally as AIG bailout eases market jitters

Stocks and the won yesterday recouped some of the heavy losses of the previous day after U.S financial authorities bailed out ailing insurance giant American International Group.

 

Korea to get FTSE upgrade

The London-based Financial Times Stock Exchange Group is set to advance Korea's stock market status to "developed," industry sources said yesterday.

 

Business & Industry

 

Lehman failure provides lessons for Korea

The collapse of U.S. financial titans, led by Bear Stearns and now with Lehman Brothers Holdings Inc., has spooked the global economy, dealing an intense blow to the market

 

Liquidity crisis dampens AIG's Korean campaign

American International Group Inc. may have just averted becoming the next victim of the U.S. mortgage mess

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Ministers laud portfolio swap

The swapping of ministerial portfolios between the prime minister and his deputy is timely and will strengthen the government, said Foreign Minister Datuk Seri Rais Yatim.

 

Anwar's lying again, says PM

Pakatan Rakyat leader Datuk Seri Anwar Ibrahim lied when he said he had sent a letter to Prime Minister Datuk Seri Abdullah Ahmad Badawi to discuss a transfer of power.

 

Business & Industry

 

AIA: Local ops strong, well capitalised

The US insurer maintains separate reserves in Malaysia in line with Bank Negara's regulations to meet obligations to policyholders, says AIA Bhd chief

 

Al-Aqeelah plans flight school in Malaysia

Kuwait's Al-Aqeelah Group is scouting for a location to set up the aviation academy and has identified several sites, including in Senai, Kuantan and Batu Berendam

 

BUSINESS TIMES, Singapore

 

Front page

 

Banks rush to do deals as Wall St crisis deepens

Wall Street's manic dealmaking reached a new pitch on Wednesday as US share prices plummeted to three-year lows and forced increasingly desperate major banks to scramble for merger partners.

 

Japan non-mfg mood at 5-year low: Reuters Tankan

Business confidence among Japanese manufacturers improved in September but non-manufacturers' sentiment sank to a nearly five-year low, a Reuters poll showed on Thursday, adding gloom to an economy heading into recession.

 

Business & Industry

 

Fund managers bracing for recession: survey

GLOBAL fund managers are bracing themselves for a recession, and risk appetite has hit new lows, Merrill Lynch has found in its latest monthly survey.

 

Asia should develop own deal pricing models: S&P

ASIA should develop its own pricing mechanisms, such as deciding at what price to do a deal, rather than take its cue from the US markets, said an executive from credit ratings agency Standard & Poor's.

 

BANGKOK POST, Thailand

 

Front page

 

Bargaining time

Behind-the-scenes lobbying for lucrative ministerial posts has begun in earnest as Somchai Wongsawat awaits royal endorsement as the country's leader. But Surapong Suebwonglee has bowed out as finance minister.

 

Prime Minister No. 26

Deputy leader of People Power party (PPP) Somchai Wongsawat was elected prime minister by parliament as expected on Wednesday morning with a solid 298 votes from PPP and the coalition.

 

Business & Industry

 

AIA Thailand affirms stability

American International Assurance (AIA), the country's biggest life insurer, yesterday affirmed its financial strength and confirmed that it had not been affected by the financial crisis facing its parent American International Group (AIG) and others in the United States. ''AIA Thailand has operated business in Thailand for 70 years and we are going to continue to grow for the next 70 years. We are a locally incorporated insurer. And most of our total assets are invested in Thailand,'' said Thomas White, executive vice-president and general manager of AIA Thailand.

 

THAILAND FOCUS INVESTOR CONFERENCE

The Thai financial system is unlikely to suffer a liquidity squeeze due to the bankruptcy of Lehman Brothers, according to Tarisa Watanagase, the governor of the Bank of Thailand. The collapse of Lehman has sparked investor concerns over a possible liquidity shortage as the investment bank had a diversified portfolio worldwide.

  

JAKARTA POST, Indonesia

 

Front page

 

No new updates

 

Business & Industry

 

No new updates

 

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 16 October 2009)

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