In Tuesday's Asia papers

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

ASAHI SHIMBUN, Japan

 

Front page

 

Aso lights a fire under Minshuto

Trying to get a jump on the opposition in the Lower House election expected this fall, Prime Minister Taro Aso turned his first Diet policy speech into a string of questions challenging Minshuto (Democratic Party of Japan).

 

Business & Industry

 

No new updates.

 

CHINA DAILY, China

 

Front page

 

Space heroes get a rapturous welcome

The Shenzhou VII crew received a heroes' welcome when they returned to Beijing Monday morning after completing a historic 68-hour space voyage that included the country's first spacewalk.

 

Business & Industry

 

No new updates.

 

TAIPEI TIMES, Taiwan

 

Front page

 

Two killed, scores injured by Jangmi

Typhoon Jangmi, which began battering Taiwan with strong winds and torrential rain on Sunday, had by noon yesterday killed two, injured 61 and left two missing, the Emergency Operations Center said.

 

Benelux countries partially nationalize debt-laden Fortis

Belgium, the Netherlands and Luxembourg pledged more than 11 billion euros (US$16 billion) to Dutch-Belgian bank and insurance giant Fortis NV to keep it from insolvency.

 

Business & Industry

 

Bailout will aid TAIEX: analysts

US President George W. Bush’s plan to rescue the US financial industry will impact on the local bourse this week, with the TAIEX expected to rally if the bill clears the US Congress and restores investor confidence in Wall Street, analysts said yesterday.

 

Asian stocks fall for fifth day in a row

Asian stocks fell for a fifth day after Fortis received a US$16 billion bailout and concern grew that a US rescue plan will fail to prevent more bank collapses.

 

KOREA HERALD, South Korea

 

Front page

 

Dollar drought sends won to 5-year low

The local currency threatened to breach the level of 1,200 won per U.S. dollar yesterday, as the credit panic drove up global demand for the dollar, despite agreement on the $700 billion rescue plan, analysts said.

 

Seoul supports Moscow's WTO bid

South Korea expressed its support for Russia's entry to the World Trade Organization, despite U.S. opposition to Moscow's bid in the wake of Russia's armed aggression in Georgia last month

 

Business & Industry

 

S. Korea to import Russian gas via N. Korea

South Korea plans to buy nearly 20 percent of its future natural gas needs from Russia through a pipeline passing through North Korea.

 

AXA Group says little exposed to Lehman, AIG

AXA Group has little exposure to the troubled Wall Street giants Lehman Brothers and American Insurance Group, the head of the French global insurance company's Korean unit said yesterday

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

MISC keeps promise to hostages' families

Hari Raya came early for families of the 70 Malaysian hostages held by Somali pirates. All of them were released in the past 48 hours.

 

Umno suspends nine for sabotage, corruption

Nine Umno members, including a division chief, have been suspended for election sabotage and political corruption.

 

Business & Industry

 

EPF to invest in WCT project

The property group will sell 30 per cent of Jelas Puri, the developer of the RM1.06 billion 'The Paradigm', to the pension fund for RM87.36 million cash

 

No word yet from Maybank on BII

MALAYAN Banking Bhd (Maybank) has yet to say whether it will proceed with its controversial RM8.6 billion purchase of Bank Internasional Indonesia (BII).

 

BUSINESS TIMES, Singapore

 

Front page

 

Cadbury recalls China-made chocolates

British sweetmaker Cadbury yesterday said that it had recalled its China-made chocolates from Hong Kong, Taiwan and Australia after tests 'cast doubt' on their safety

 

US bailout plan fails to relieve bourse panic

WALL Street may be breathing a sigh of relief over the US government's tentative US$700 billion plan to bail out the financial sector, but it is hard to hear that amid the chaos that continues to roil the global financial system.

 

Business & Industry

 

Days numbered for Asian growth model

The deepest financial crisis since the Great Depression is likely to do more than years of international prodding to wean China and its Asian neighbours off their export-led model of economic growth.

 

US growth index hits 5-year low

A measure of future economic growth in the US fell to a fresh five-year low and its annualised growth rate dove to a 28-year low, indicating that the recession will likely drag on regardless of policy actions, a research group said last Friday.

 

BANGKOK POST, Thailand

 

Front page

 

The deal's off

The US Congress House of Representatives rejected the proposed $700 billion plan to bail out Wall Street early on Tuesday. The New York Stock Exchange plunged more than 5 per cent, and oil prices dropped $10.

 

Somchai charged

Less than two weeks after being elected prime minister, Somchai Wongsawat could lose the post and his seat in parliament over another shares scandal.

 

Business & Industry

 

BoI target reduced due to politics and credit crisis

Industry Minister Pracha Promnok has revised down the forecast value of project applications to the Board of Investment (BoI) to between 400 and 500 billion baht, from an earlier target of 600 billion.

 

Muang Thai safe from Fortis woes

Muang Thai Group is willing to buy back shares from Fortis Insurance International NV, should the latter want to divest its holdings in order to help bail out its Belgian-Dutch parent firm Fortis, according to a company executive.

 

JAKARTA POST, Indonesia

 

Front page

 

Groups skirmish during Rizieq trial

Members of two organizations clashed outside the Central Jakarta district court building Thursday as Rizieq Shihab's trial continues.

 

Ramadan respite for street kids

The raucous applause of some 400 street children filled the auditorium at Bulungan Sports Center, South Jakarta, when four child buskers mounted the stage

 

Business & Industry

 

Watchdog on lookout for stock short selling

Indonesia's securities watchdog, the Capital Market Supervisory Agency (Bapepam-LK), has formed a special team to spot the occurrence of illegal speculative practices in short selling, popularly known as shorting.

 

Bank Mandiri, Bosowa reach deal on debt restructuring

State-controlled Bank Mandiri, the nation's largest lender, signed an agreement with South Sulawesi-based cement maker PT Semen Bosowa on Thursday to restructure its Rp 1.7 trillion (US$183.6 million) debt to the bank.

By: Staff Reporter
+44 20 8652 3214

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