In Thursday's Asia papers

13 November 2008 01:00 [Source: ICIS news]

Front page

Explosive mix leaves 2 dead in Tokyo

Two people died Wednesday in an explosion and fire at a house-cum-workshop in Tokyo's Shibuya Ward that handles gunpowder for imitation firearms used in film and theater productions.

Income cap on handouts is left to municipalities

The ruling coalition set the stage Wednesday for mass confusion over its planned cash handout program by leaving it to municipal governments to decide whether to set an income cap.

Business & Industry

No new updates

CHINA DAILY, China

Front page

New measures unveiled to spur growth

The government Wednesday unveiled a slew of infrastructure projects and increased export rebates for the third time in recent months - in a wide-ranging initiative to stimulate growth and offset the effects of the global downturn.

Piling bad news send Wall Street down sharply again

A disheartened Wall Street fell for the third straight session Wednesday as investors absorbed another series of dismal corporate reports and news that the US government won't buy banks' soured mortgage assets after all. The Dow Jones industrials skidded more than 410 points, and all the major indexes dropped more than 4 percent.

Business & Industry

FDI inflows begin to slow amid global crisis

Foreign direct investment (FDI) kept rising in October, but at a slower clip, pointing to a decline in capital inflows amid global economic turbulence.

Investment plan will cover green issues

Improving the environment is a key element of the government's financial stimulus plan, vice-premier Li Keqiang said in Beijing on Wednesday.

TAIPEI TIMES, Taiwan

Front page

Chen Shui-bian behind bars

The Taipei District Court early yesterday morning granted a request by prosecutors to detain former president Chen Shui-bian in connection with corruption allegations, making him the first former president in the nation’s history to be arrested.

Reaction is swift and sharply split along party lines

Former president Chen Shui-bian’s detention angered Democratic Progressive Party (DPP) members yesterday, with senior party members and officials calling the arrest “politically motivated.”

Business & Industry

Bad tidings pile up for ailing Indian economy

Goldman Sachs cut its growth forecast for this fiscal year to March to 6.7 percent and expects the economy to grow 5.8 percent next year

Thai authorities conjecture on strength of baht

Thai Finance Minister Suchart Thadathamrongvej said he wants lower interest rates, which will help weaken the baht and boost exports.

KOREA HERALD, South Korea

Front page

North Korea threatens to close border

The North Korean military yesterday threatened that it will "strictly restrict and cut off" all overland passages of the inter-Korean border from Dec. 1 in retaliation to South Korea's reluctance to implement two summit declarations.

$3.7b set aside to create 50,000 jobs

The government said yesterday it planned to invest 5 trillion won ($3.73 billion) in infrastructure projects to create more than 50,000 jobs.

Business & Industry

POSCO Malaysia begins operations

POSCO, the world's fourth largest steelmaker, said it launched POSCO Malaysia, its Malaysian operation unit, in Kuala Lumpur yesterday.

KDI sees 3.3% growth due to global slowdown

Korea's growth next year will be severely dented by a rapid fall in exports, due to the impact of the global financial crisis and the economic slowdown, the Korea Development Institute said in a report yesterday.

NEW STRAITS TIMES, Malaysia

Front page

Ronnie Liu arrested, to face charge of obstruction

Selangor executive councillor Ronnie Liu was arrested at the State Secretariat building in Shah Alam yesterday evening.

It's politically motivated, he says

Ronnie Liu is crying foul over the manner he was arrested by Puchong police at the lobby of the State Secretariat yesterday.

Business & Industry

Sime Darby eyes troubled planters

The world's largest listed oil palm grower warned of a challenging year ahead, and is likely to lower certain performance targets when it reports its first quarter earnings later this month.

West Coast Highway project shelved

The RM3.12 billion West Coast Highway project has been shelved as the consortium involved failed to secure financing in the stipulated time.

BUSINESS TIMES, Singapore

Front page

US lawmakers to grill automakers on bailout request

Lawmakers plan to question chief executives of stricken US automakers on their pleas for an industry bailout, while the Bush administration responded coolly on Wednesday to an aid plan being shaped by Democrats.

Intel's shock warning sounds alarm for tech sector

Chip giant Intel Corp cut its fourth-quarter revenue forecast by about 14 per cent citing weak demand across the world and in all its products, indicating the economic crisis is set to hurt computer sales in the holiday season and beyond.

Business & Industry

Clearer picture of Minibonds soon, says MAS

LEHMAN Minibond investors will have more clarity by the end of this month on their investment, the Monetary Authority of Singapore (MAS) said yesterday.

NTU starts $10m fund to support entrepreneurship and innovation

NANYANG Technological University (NTU) has launched a $10 million fund to support entrepreneurship and innovation education in the university.

BANGKOK POST, Thailand

Front page

Peaceful war

For the ethnic Malay Muslim villagers who live close to nature there, the land plots in question belong to them, where their ancestors grew fruit and other indigenous trees they use for food and timber. The trees have over time grown and flourished into lush, forest-like orchards.

Burmese fight democracy

Burma's military rulers have revealed their intention to eliminate anyone who opposes their authority in the lead-up to the planned elections in two years' time.

Business & Industry

Sansiri, AP post big gains on realised condo sales

The listed developers Sansiri Plc and Asian Property Development Plc have both reported a surge in net profit in the third quarter due to the delivery of more condominium units to buyers while Golden Land Property Development posted a loss which it blamed on market volatility and uncertainties.

World Bank: Lesser states must help

Developing economies could play a greater role in lessening the impact from the global recession in 2009 by increasing fiscal stimulus in their countries, according to the World Bank.

JAKARTA POST, Indonesia

Front page

No new updates

Business & Industry

No new updates

By: Staff Reporter
+44 20 8652 3214

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