In Tuesday's Asia papers

28 October 2008 01:00  [Source: ICIS news]



Front page


Aso urges steps to stabilize markets

Prime Minister Taro Aso on Monday instructed government and ruling coalition executives to take all possible steps to stabilize rocky financial markets, including easing accounting rules on banks.


Business & Industry


Stock prices plunge to 26-year low

Tokyo stock prices plummeted to a 26-year low Monday, the free-fall accelerated by the rapidly strengthening yen.




Front page


Govt pledges job support to labor-intensive sector

The government Monday pledged to support labor-intensive enterprises and small- and medium-sized enterprises (SMEs) to protect jobs amid the global financial meltdown.


5 Chinese oil workers kidnapped, killed in Sudan

Five Chinese workers abducted in southwest Sudan by local militants this month have been killed by the kidnappers, officials of the Chinese embassy in Sudan said on Monday.


Business & Industry


No new updates




Front page


ARATS sorry for melamine scandal

China’s cross-strait agency yesterday apologized to the Taiwanese public for the scandal over melamine tainted food, a move that seems aimed at easing tension ahead of the meeting between top cross-strait negotiators next month.


G7 pledges unity as IMF approves plans

The G7 club of rich nations pledged yesterday to cooperate to bring stability to battered global markets, where stocks buckled on fears government action will be too late to prevent a worldwide recession.


Business & Industry


Economic indicators ‘blue’ last month

All cyclical indicators posted negative growth last month, triggering the Council for Economic and Planning and Development’s (CEPD) “blue light” indicator for the domestic economy. With the global financial storm battering the equity market and dampening export orders, industrial productivity and consumer spending both took hits.


Consumer confidence index at lowest level since 2001

The consumer confidence index dropped 2.1 points this month to 52.22 — the lowest level since National Central University’s Research Center for Taiwan Economic Development began its monthly surveys in 2001.




Front page


Central bank delivers biggest rate cut

Korea's central bank made its biggest-ever cut in interest rates yesterday, as the nation's financial markets continue to dive and the economy chills faster than expected.


Won continues fall after BOK slashes key rate

The Korean won dropped further yesterday, as the central bank's drastic interest rate cut failed to stop foreign investors' net selling of local shares, analysts said yesterday.


Business & Industry


Central bank delivers biggest rate cut

Korea's central bank made its biggest-ever cut in interest rates yesterday, as the nation's financial markets continue to dive and the economy chills faster than expected.


Economic woes bedevil Korean companies

Korean businesses, big or small, are feeling growing pains from the global financial crisis and economic slowdown.




Front page


Najib: Rights will be upheld

The government will continue to defend the special rights of the Malays and those of the other races as outlined in Article 153 of the Federal Constitution, the deputy prime minister said.


'Avoid destructive culture'

Datuk Seri Najib Razak, the Umno deputy president, was commenting on the threatening SMSes that Johor Baru division chief Datuk Shahrir Abdul Samad had received for the past two weeks pressuring his division to nominate certain politicians for the party's top posts.


Business & Industry


Khazanah takes stake in Saudi firm

KHAZANAH Nasional Bhd has bought 10 per cent of Saudi-based Jadwa Investment for RM270.85 million, to strengthen Malaysia's Islamic finance aspirations and capitalise on opportunities that will help it ride out the current economic downturn.


Citigroup makes buy call on IOI

CITIGROUP Research is recommending investors to buy IOI Corp Bhd's shares after a near-20 per cent one-day price plunge last Friday.




Front page


Banking system should steady, but risks remain: BoE

Global intervention should steady the banking system but it will also put big constraints on banks, the Bank of England said on Tuesday, six months after it said it expected confidence to return to financial markets.


World markets slump as Nikkei hits 26-year low

European stock markets fell heavily yesterday after the Nikkei index in Japan closed at its lowest in 26 years as the financial crisis raised recession fears and drove up the yen, piling the pressure on the country's exporters.


Business & Industry


US moving firm eyes inroads into Singapore

MOVING and trucking has long been seen as a male- dominated industry. And Two Men and a Truck has long been seen as an American brand.


Manchester Business School to offer customised MBA

SENDING employees on Master of Business Administration courses used to be seen as a way to reward good performers at work.




Front page


Volatile US stocks fall, oil hits new low

US stock indices continued their downward spiral at the start of a new week Monday, led by a drop in energy and metals producers.


In regional panic, Thai shares lose 10.5 pct

Listed shares at the Stock Exchange of Thailand (SET) lost 10.5 per cent of their value on Monday, prompting a circuit break at 4 pm, as investors continued to dump equities in panic selling.


Business & Industry


Property help may last longer

The Finance Ministry may extend tax and fee-reduction incentives for real estate purchases beyond next March, said Finance Minister Suchart Thada-Thamrongvech.


TOT says profit will fall by 13%

TOT Plc has forecast that its net profit this year will decline by 800 million baht or 13% to 5.4 billion baht from 6.2 billion last year.




Front page


Assassination plot targeting Obama disrupted

Law enforcement agents have broken up a plot by two neo-Nazi skinheads to assassinate Democratic presidential candidate Barack Obama and shoot or decapitate 88 black people, the Bureau of Alcohol, Tobacco, Firearms and Explosives said Monday.


WHO: heart, infectious diseases, cancer kill most

Heart ailments, infectious diseases and cancer remain the world's top three killers, the U.N. health agency said Monday.


Business & Industry


No new updates

By: Staff Reporter
+44 20 8652 3214

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