In Thursday's Asia papers

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

ASAHI SHIMBUN, Japan

 

Front page

 

Another Japanese wins Nobel Prize

Osamu Shimomura, 80, and two Americans won the Nobel Prize in Chemistry on Wednesday for a discovery that revolutionized laboratory work around the world, the Royal Swedish Academy of Sciences announced.

 

Refueling mission set to continue

A bill to extend the Maritime Self-Defense Force's refueling mission in the Indian Ocean will likely pass during the current Diet session after a change in tack by the opposition Minshuto (Democratic Party of Japan).

 

Business & Industry

 

No new updates

 

CHINA DAILY, China

 

Front page

 

Scientist of Chinese origin wins Nobel chemistry prize

Two Americans, one of Chinese origin, and a Japanese scientist won the Nobel Prize in chemistry Wednesday for discovering and developing a glowing jellyfish protein that revolutionized the ability to study disease and normal development in living organisms.

 

Supply to ensure stable grain price

Chinese agricultural experts yesterday said the country has sufficient grain reserves to keep food prices stable and foresaw no major fluctuations in the country's grain prices.

 

Business & Industry

 

Village a lab for further economic change

Anhui province's Xiaogang village has become something of a household name in China since it pioneered the division of collective land into plots for every family 30 years ago.

 

Pelosi says $150b economic stimulus plan needed

US House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it.

 

TAIPEI TIMES, Taiwan

 

Front page

 

Central banks cut rates to stem crisis

Six central banks, including the US Federal Reserve, the European Central Bank (ECB) and the Bank of England, jolted markets yesterday by cutting interest rates together in an attempt to shore up confidence in the world’s crisis-stricken financial system.

 

Britain threatens to sue Iceland to protect savers

Britain added to the financial chaos engulfing Iceland by declaring yesterday it planned to sue over lost deposits held by thousands of Britons with Icelandic bank accounts.

 

Business & Industry

 

Securities revenue declines by 31.8%

The nation’s securities transaction tax income plunged 31.8 percent year-on-year last month to NT$6.4 billion (US$197 million) and is set to shrink further as Chinese Nationalist Party (KMT) legislators seek to suspend the levy for a year to help invigorate the local bourse..

 

Taiwan Mobile’s BlackBerry service draws customers with productivity

Taiwan Mobile Co, the nation’s second-largest telecom carrier, yesterday said it is working with BlackBerry handset maker Research In Motion Ltd (RIM) to seek growth among corporate clients despite market saturation.

 

KOREA HERALD, South Korea

 

Front page

 

Currency hits 10-year low

The won took another drubbing yesterday, reaching a decade low as fears rapidly spread among market participants that Korea could be severely hit by the global credit crisis.

 

Lee talks tough on won speculation

President Lee Myung-bak yesterday warned against foreign exchange speculation that would aggravate the dollar shortage amid the deepening financial crisis.

 

Business & Industry

 

Will Korea join in global rate cut?

As central banks around the world have started to lower key interest rates in a synchronized effort to help arrest the escalating financial turmoil, the Bank of Korea makes a decision on the nation's benchmark rate today.

 

Overseas transfers soar as won continues fall

Won-dollar conversions and overseas transfers have soared as the won continues its decline against the dollar, industry officials said yesterday.

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Bank of Japan pumps in more emergency funds

The Bank of Japan said it injected 2.0 trillion yen (20.1 billion dollars) into the money markets on Thursday as part of efforts by the world’s central banks to end the global financial crisis.

 

The 'last of the Razak generation' bows out

A calm-looking Abdullah told a packed press conference that his decision, which also means he would be stepping down as prime minister, was final and that he would hand over the leadership to his deputy Datuk Seri Najib Razak who would contest the party president's post.

 

Business & Industry 

 

Regional markets battered

THE Malaysian stock market, which took a bashing yesterday along with other Asian bourses after yet another sharp fall on Wall Street, remains in bearish mode and the outlook is unlikely to improve anytime soon, analysts said.

 

MIDF close to tie-up with GCC-based firm

MALAYSIAN Industrial Development Finance Bhd (MIDF) says it is close to signing a strategic partnership deal with a company based in the Gulf Cooperation Council (GCC) states, which will allow MIDF to further grow its asset management business.

 

BUSINESS TIMES, Singapore

 

Front page

 

HK, Taiwan central banks cut interest rate

The Hong Kong Monetary Authority on Thursday lowered the base rate charged through its overnight discount window by 50 basis points to 2.0 per cent after a US led coordinated cut in key interest rates around the world.

 

Nikkei drops as yen, economy worries weigh

Japan's Nikkei average fell 0.4 per cent on Thursday as a firm yen and fears about a global recession hurt high-tech exporters.

 

Business & Industry

 

Pacific Star opens Qatar office to expand into Middle East

SINGAPORE-BASED property investor Pacific Star Group is expanding into the Middle East through the establishment of a new office in Qatar.

 

Office capital values down 2-3% in Q3

OFFICE capital values fell 2-3 per cent quarter on quarter in the third quarter of this year in areas such as Marina Centre and Anson Road/Tanjong Pagar as demand softened, according to a report released yesterday.

 

BANGKOK POST, Thailand

 

Front page

 

Central banks slash rates, market still unhappy

A joint effort by the world's central banks to slash interest rates was hailed as a new level of international cooperation, but failed to quell market jitters over the ongoing financial crisis on Wednesday.

 

PAD ‘knows nothing’ about seizure of bus

A bus was seized by a group of man and then parked in the middle of a bridge close to the Government House where People’s Alliance for Democracy (PAD) supporters gathered on Wednesday night

 

Business & Industry

 

THAI plans more cutbacks

Thai Airways International is moving to cut back flights, especially on regional routes, in line with the sharp drop in passenger demand due to the political turmoil and the global financial crisis

 

SET continues spiral down to five-year low

Thai shares nosedived 6.88% yesterday as markets across Asia ended deeply in the red on growing fears of a global economic recession. The Stock Exchange of Thailand closed at 492.34 points, down 36.37, in trade worth 17.46 billion baht. The index dropped to as low as 483.91 points before rebounding in late trade. The SET has not been below 500 for five years.

 

JAKARTA POST, Indonesia

 

Front page

 

Bush signs landmark US-India nuclear legislation

President George W. Bush has signed into law a bill that reverses three decades of U.S. policy and allows American businesses to enter India's multibillion-dollar nuclear market.

 

Business & Industry

 

Indonesia's competitiveness not yet improving: WEF

The latest report from the World Economic Forum (WEF) shows that Indonesia's global competitiveness is not yet improving while the United States remains a top performer despite being shackled by the worst financial clout since the great depression.

By: Staff Reporter
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