In Tuesday's Asia papers

07 October 2008 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

 

Front page

 

Support for Aso Cabinet drops sharply; Minshuto inches up

Support for the Cabinet of Prime Minister Taro Aso has dropped to 41 percent, down 7 points from when he took office and named his ministerial lineup less than two weeks ago, an Asahi Shimbun survey shows.

 

Business & Industry

 

Aso: Economy is priority, snap poll will come later

Prime Minister Taro Aso on Monday dismissed talk of a snap election in the immediate future, saying his priority is fixing the economy.

 

CHINA DAILY, China

 

Front page

 

Dairy sector regulation beefed up

A draft regulation to raise standards and improve supervision of domestic dairy products was approved in principle by the Cabinet Monday amid a nationwide milk contamination scandal.

 

Earthquake jolts area near Lhasa, killing at least 9

At least nine people were killed in a strong earthquake that jolted a county near Lhasa, capital of southwest China's Tibet Autonomous Region, on Monday, the rescue headquarters confirmed early Tuesday morning.

 

Business & Industry

 

Central bank dismisses bailout rumor

The central bank has denied media reports that China will buy up to $200 billion worth of US treasuries to help Washington combat the deepening financial crisis.

 

Property deals hit record low over the Holiday

Property transactions in China's major cities hit a record low over the past National Day holiday as more potential homebuyers adopted a wait-and-see attitude.

 

TAIPEI TIMES, Taiwan

 

Front page

 

Taipei Court detains ex-bureau head

The Taipei District Court yesterday ordered the detention of Yeh Sheng-mao , former head of the Ministry of Justice’s Investigation Bureau, for allegedly withholding information on former president Chen Shui-bian’s possible involvement in money laundering.

 

Palin aides to testify in abuse-of-power probe

Seven aides to Alaska Governor Sarah Palin have reversed course and agreed to testify in an investigation into whether the Republican vice presidential nominee abused her powers by firing a commissioner who refused to dismiss her former brother-in-law.

 

Business & Industry

 

President confident of an economic rebound

President Ma Ying-jeou  yesterday expressed confidence in his administration, which he said would revitalize Taiwan’s economy in the next couple of years, reassuring foreign investors that “now is the right time for [you] to invest in Taiwan.”

 

Inflation slows as oil prices fall

Inflationary pressures eased further last month, with the growth in consumer prices decelerating to 3.09 percent year-on-year, from 4.78 percent in August, thanks to falling fuel and raw material prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

 

KOREA HERALD, South Korea

 

Front page

 

Banks urged to sell assets for liquidity

Finance Minister Kang Man-soo yesterday called on local banks to liquidate their foreign currency-denominated assets as a global dollar drought hits home.

 

Won plummets to 6-year low as dollar shortage worsens

The won fell to a six-year low yesterday as the dollar shortage exacerbated the extended global credit crunch, analysts said.

 

Business & Industry

 

N.E. Asia cooperation key to $80b fund

Cooperation from Japan and China will be crucial in the creation of an $80 billion Asia fund, and the Korean government is pushing hard for it, experts said yesterday.

 

Big discount stores cheat on labeling

Major discount stores are no exception in violating labeling rules, a government report found yesterday.

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Asian marts spooked as crisis widens in Europe

The initial reaction to the European effort however failed to comfort financial markets. Investors from Tokyo to London slashed risk from portfolios and positioned for a further tightening of credit and bank lending and the rising risk of a serious global economic recession.

 

UMNO PRESIDENCY: PM to announce decision today or tomorrow

The prime minister said he would chair a Barisan Nasional supreme council meeting to inform party component leaders of his decision beforehand.

 

Business & Industry  

 

CapitaLand may add assets in Malaysia

CAPITALAND Ltd, Southeast Asia's largest real estate player, is said to be in talks to purchase three shopping complexes: Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan.

 

Global markets plummet

Fear gripped investors around the world yesterday, causing them to dump stocks and snap up safe-havens after European leaders were seen doing too little too late to stem a spreading financial crisis that threatens global growth.

 

BUSINESS TIMES, Singapore

 

Front page

 

Nikkei tumbles to five-year low, below 10,000

Japan's Nikkei stock average tumbled to a five-year low shortly after the start of trade on Tuesday, sliding below 10,000 for the first time since December 2003 on growing fears over the global economy and a sharply stronger yen.

 

Fed's Bullard: Rate cuts not the solution

The Federal Reserve should not cut interest rates again to cushion the economy from financial market turmoil, a top Fed policy-maker said on Monday, saying that cuts would be ineffective and could compound inflation.

 

Business & Industry

 

Stocks savaged as recession looms

Stocks in Asia and Europe were savaged yesterday as the banking crisis in Europe deepened and credit channels crucial to the normal functioning of financial markets and economic activity stayed blocked.

 

Avocent to invest $14m in Singapore to boost operations

ENTERPRISE software and equipment supplier Avocent Corp has made Singapore its Asia-Pacific headquarters.

 

BANGKOK POST, Thailand

 

Front page

 

Thaksin, wife applied for asylum

Ousted prime minister Thaksin Shinawatra has applied for political asylum in Britain where he has spent most of his time since he was forced out of office two years ago, officials in London said yesterday.

 

PAD march on Parliament against charter change

Thousands of supporters of People’s Alliance for Democracy (PAD) marched from the Government House to the Parliament on Monday night to oppose charter amendments.

 

Business & Industry

 

SET tumbles 6.4 pct on financial, political worries 

The Stock Exchange of Thailand index dropped 6.4 per cent on Monday in what was believed to be the steepest fall in Asia as investors pulled money out of regional bourses.

 

JAKARTA POST, Indonesia

 

Front page

 

No new updates

 

Business & Industry

 

No new updates

 

By: Staff Reporter
+44 20 8652 3214

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