In Friday's Asia papers

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

Front page

Latest console games on show in chiba

Tokyo Game Show 2008 opened Thursday at Makuhari Messe exhibition center here, featuring a record of more than 800 software titles, with 209 companies and groups taking part from Japan and abroad.

Business & Industry

U.S. public funds key to recovery

Share prices in Tokyo and elsewhere will not make a meaningful rebound until the United States decides to recapitalize ailing financial institutions with taxpayers' money, economists say.

CHINA DAILY, China

Front page

Dow plunges 679 for 6th triple-digit loss in a row

A runaway train of a sell-off turned the anniversary of the stock market peak into one of the worst days in Wall Street history Thursday, driving the Dow Jones industrials down a breathtaking 679 points and deepening a financial crisis that has defied all efforts to stop it.

Party meet focuses on major rural reforms

The Communist Party of China (CPC) Central Committee began a key four-day meeting in Beijing Thursday to discuss rural reforms in a bid to spur growth amid a global economic slowdown.

Business & Industry

No new updates

TAIPEI TIMES, Taiwan

Front page

Central bank follows global rate cut

Investors greeted the announcement with glee on opening, but the market rapidly lost steam as foreign capital continued to pull out of local equities

Public displeasure rising over policy flip-flops: official

Official gaffes and policy flip-flops are among the many reasons for the government’s low approval rating, a government minister said yesterday.

Business & Industry

Interest rate cuts not sufficient: Roach

The Morgan Stanley Asia chairman urged finance ministers of top economies to draw up fiscal measures at the G7, IMF and World Bank meetings

Acer on course to meet year’s target for netbook sales

Acer Inc, the world’s third-largest PC maker, yesterday said it sold more than 1 million low-cost notebook computers last month, putting it well on course to its target of delivering 5 million units this year.

KOREA HERALD, South Korea

Front page

Central bank joins in global rate cuts

The Bank of Korea yesterday lowered the base interest rate, joining in a coordinated action of central banks around the world, to help arrest the intensifying financial tumult.

President to make radio address on economy

President Lee Myung-bak plans to deliver a radio address as early as next Monday to restore public confidence in the economy, an aide said yesterday.

Business & Industry

Falling won affects daily lives of people

The won's freefall against the dollar is taking a toll on the nation's real economy, as industries and individuals are suffering difficulties caused by the drastic decline in the local currency's value.

Chief SME official presses for extending loan payments Small- and medium-sized enterprises going through financial difficulties may soon have their loan payment deadlines extended.

NEW STRAITS TIMES, Malaysia

Front page

Kok sues Utusan and editor

Seputeh member of parliment Teresa Kok filed a RM30 million defamation suit against Utusan Melayu (M) Bhd and its editor over an article on the azan (call for prayers) which was published last month.

UMNO DIVISIONAL MEETINGS: Muhyiddin backs Najib for presidency

Umno vice-president Tan Sri Muhyiddin Yassin gave the strongest signal yesterday that he would not be vying for the party presidency when he urged all party divisions to support Datuk Seri Najib Razak.

Business & Industry

Mideast partner for MAA Hldgs?

The new equity partner will participate in the re-capitalisation and restructuring of MAA and fund its expanding international operations, a source says

Idrose is Syarikat Prasarana CEO

Datuk Idrose Mohamed, who was earlier tipped to head Keretapi Tanah Melayu Bhd but it did not materialise, now helms the National Public Transport Task Force

BUSINESS TIMES, Singapore

Front page

US Treasury ready to invest in banks

A YEAR to the day that the US stock market hit its record high, the US government acknowledged that the financial bubble created by the risky lending strategies of its major financial institutions - which had propelled stocks to such lofty heights - has forced the Treasury Department to the unprecedented brink of directly investing in those very same banks.

Credit mess dragging down economy: Fed's Rosengren

The Federal Reserve will succeed eventually in getting paralysed credit markets moving, but for now they are dragging on the US economy, Boston Fed President Eric Rosengren said on Thursday.

Business & Industry

S'pore Q3 growth contracts 0.5%, 2008 seen 3%

The economy shrank by 0.5 per cent in the third quarter of the year, resulting in the Ministry of Trade and Industry lowering its expectation on full year growth to 3 per cent.

MAS eases policy on growth concerns

Singapore's central bank eased monetary policy for the first time since 2003 on Friday, in a widely expected move that will slow the rise of the currency to limit the economic fallout from the deepening financial crisis.

BANGKOK POST, Thailand

Front page

Wall Street tumbles again, Dow drops below 9,000

US stocks plummeted again early on Friday (Thailand time) and the Dow Jones Industrial Average dropped below 9,000 points as a series of US and global efforts to tackle the financial crisis have failed to calm the widespread fears of investors.

One way out

In an exclusive interview with the Bangkok Post on Thursday, Gen Chavalit said the answer lies with army chief Gen Anupong Paojinda, who has repeatedly ruled out a coup.

Business & Industry

No new updates

JAKARTA POST, Indonesia

Front page

Dow industrials fall 678 points, below 9,000

Stocks plunged in the final minutes of trading Thursday, sending the Dow Jones industrials 678 points, or more than 7 percent, to their lowest level in five years after a major credit ratings agency said it was considering cutting its rating on General Motors Corp. The Standard & Poor's 500 index also fell more than 7 percent.

Business & Industry

No new updates

By: Staff Reporter
+44 20 8652 3214

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