In Wednesday's Asia papers

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

ASAHI SHIMBUN, Japan

 

Front page

 

Aso eyes Diet session into early 2009

Prime Minister Taro Aso said Tuesday he would submit a second supplementary budget to the regular Diet session in early January instead of the current extraordinary session because of other pressing legislative matters.

 

Cut in bluefin quota may spur price hike

The total allowable catch quota for bluefin tuna in the Eastern Atlantic and the Mediterranean will be slashed by 20 percent from the initially envisaged 27,500 tons to 22,000 tons in 2009, raising fears of price hikes for the coveted delicacy.

 

Business & Industry

 

No new updates

 

CHINA DAILY, China

 

Front page

 

US Fed, Treasury offer $800B more to credit markets

US authorities launched fresh efforts Tuesday to unfreeze credit and limit the economic downturn with programs to buy up to $800 billion in mortgage- and asset-backed securities.

 

Premier seeks advice from experts on economy

Chinese Premier Wen Jiabao has held in-depth talks with top economists and entrepreneurs to discuss the current economic situation and the country's macro controls amid government efforts to steer the economy out of trouble against a background of global turmoil.

 

Business & Industry

 

No new updates

 

TAIPEI TIMES, Taiwan

 

Front page

 

Government mulls real estate aid plan

Urged by construction industry leaders to take action to boost the ailing domestic property market, the government yesterday promised to look into a raft of measures proposed by the building giants.

 

SIP prosecutors release Koo Jr on US$3m bail

Former Chinatrust Financial Holding Co  vice chairman Jeffrey Koo Jr was released on NT$100 million (US$3 million) bail late on Monday night.

 

Business & Industry

 

CSBC predicts strong revenues

CSBC Corp, Taiwan, the nation’s largest ship manufacturer, said yesterday it had confidence in its financial outlook, adding it expected to reach between NT$34 billion (US$1.02 billion) and NT$35 billion in revenues by the end of this year.

 

SMEs must upgrade business models in slow season: panel

The nation’s 1.23 million small and medium enterprises (SMEs) should be able to deal with the current financial difficulties if they take advantage of the slow season to upgrade their business models and address their weaknesses in financial management while increasing their core competitiveness, specialists said yesterday.

 

KOREA HERALD, South Korea

 

Front page

 

Seoul prepares for Gaeseong pullout

The South Korean government yesterday formed an emergency task force to organize the safe pullout of staff from the Gaeseong industrial park in North Korea. The communist country announced on Monday that it has ordered the cancellation of Gaeseong city tours and a 50 percent cut in South Korean staff at the industrial park as of Dec. 1. The moves are a protest to Seoul's "confrontational" policies, according to North Korea.

 

Obama vows swift, bold action

President-elect Barack Obama warned that the United States is "trapped in a vicious cycle" and faces the loss of "millions of jobs" unless immediate steps are taken to stimulate the economy and to rescue the nation's automakers.

 

Business & Industry

 

Economic slump impacts steelmakers

The steel industry had seen record-breaking coking coal and iron ore prices, which rose by 117 and 87 percent earlier in the year

 

Socially responsible investment key to success: Allianz

Allianz Global Investors Korea Ltd. says it is one of the few investment firms in Korea that did not sell China-focused equity funds last year when the rest of the nation couldn't get enough of China funds.

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Easier bank loans from Monday

Following Bank Negara Malaysia's announcement on Monday to cut a key benchmark rate, several banks have announced plans to lower rates for loans and financing. Others are likely to follow.

 

Up to rulers to accept yoga ruling

Department of Islamic Development Malaysia (Jakim) director-general Datuk Wan Mohamad Sheikh Abd Aziz said the power to decide on such religious matters lies with these heads of state, with the department only playing the role of secretariat.

 

Business & Industry 

 

Sarawak smelter cost may flare up to RM14b

RIO Tinto Alcan, the world's third largest mining group, said investment for its Sarawak aluminium smelter project may double to nearly RM14 billion due to plant expansion and costlier raw materials.

 

MISC scraps reverse takeover of Ramunia

In a statement to Bursa Malaysia yesterday, MISC said its wholly-owned subsidiary, MSE Holdings Sdn Bhd, has elected to terminate a January 21 2008 agreement to sell its stake in Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) to Ramunia "due to unsatisfactory due diligence findings". It did not elaborate.

 

BUSINESS TIMES, Singapore

 

Front page

 

Rio Tinto says can weather storm without BHP

Global miner Rio Tinto sees no need to raise equity and is confident of selling assets soon to pay off debt, its chairman said on Wednesday, a day after rival BHP Billiton Ltd dropped its bid for the firm.

 

Citigroup directors removal sought by NY Post, WSJ

Two of New York's four major daily newspapers slammed the board of Citigroup on Tuesday, with a New York Post editorial calling for all of the directors to be removed and the Wall Street Journal saying most of them did not deserve to remain.

 

Business & Industry

 

Not possible for Singapore to pump-prime economy: PM Lee

THE global financial crisis may be forcing other countries to spend billions to stimulate their economies, but Singapore cannot follow in their footsteps because of its small economy, said Prime Minister Lee Hsien Loong.

 

S'pore eyes trade opportunities in Brazil

HAVING already built strong networks in Asia, the US, Europe and the Middle East, Singapore has now firmly set its sights on growing its economic links with another part of the world - Latin America.

 

BANGKOK POST, Thailand

 

Front page

 

Blow to tourism

The tourism sector, already reeling from the global economic downturn, suffered a fresh blow as People's Alliance for Democracy anti-government protesters forced Suvarnabhumi airport to suspend outbound flights.

 

Hurting the country

The People's Alliance for Democracy's blockade of the Motorway entrance to Suvarnabhumi airport is a wrong and unnecessary move.

 

Business & Industry

 

TT&T scraps B50bn 3G investment

Jasmine International Plc, the parent of TT&T Plc, has abandoned the ambitious 50-billion-baht third-generation (3G) investment plan of its provincial fixed-line telephone unit because it's not viable.

 

One-Two-Go to fly Dec 5

One-Two-Go Airlines is preparing to resume flights on Dec 5, after being grounded since July 22 for safety and operational deficiencies. Executives of the privately owned budget carrier, which suffered one of Thailand's worst air crashes, yesterday confirmed the re-launch and have begun accepting reservations.

 

JAKARTA POST, Indonesia

 

Front page

 

No new updates

 

Business & Industry

 

No new updates

By: Staff Reporter
+44 20 8652 3214

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