In Thursday's Asia papers

08 January 2009 01:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

Front page

Telescope to be set atop Chile mountain

Seeking a higher, drier spot for astronomers to better observe the distant universe, University of Tokyo researchers will shortly install an infrared telescope in the thin air atop a 5,640-meter mountain in the Chilean Andes.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

Gaza fighting rages despite cease-fire proposal

Israel resumed its Gaza offensive Wednesday, bombing heavily around suspected smuggling tunnels near the border with Egypt after a three-hour lull to allow in humanitarian aid. Hamas responded with a rocket barrage.

Nation to double natural gas output by 2015

The country aims to more than double its annual natural gas output to 160 billion cu m by 2015, and produce about 6 billion tons of oil in the next 30 years, or 200 million tons a year.

Business & Industry

Slowdown forecast for China's tourism industry

Inbound travel to the mainland is expected to grow by just 1.5 percent this year to reach the 2007 level of 132 million tourist arrivals, hit by a worldwide slump in the sector amid the global economic slowdown, the China National Tourism Administration (CNTA) forecast Wednesday.

China issues 3G licenses

China Wednesday officially awarded the long-awaited licenses for third generation (3G) mobile networks to three telephone operators, paving the way for investments of around 280 billion yuan in network upgradation and expansion over the next two years.

TAIPEI TIMES, Taiwan

Front page

Taiwan’s imports, exports at record low

Amid the global economic downturn, Taiwan’s export-dependent economy is suffering, with exports sinking a record 41.9 percent year-on-year last month while imports took a historic dive of 44.6 percent, the Ministry of Finance said yesterday.

Court turns down appeal against Chen’s detention

Former president Chen Shui-bian yesterday would file for a constitutional interpretation from the Council of Grand Justices after the Taiwan High Court turned down an appeal against his detention.

Business & Industry

Taipei property prices expected to fall

Taipei City’s commercial property prices, including office rentals, are expected to nosedive in the first half of this year from last quarter’s peak, real estate consultancy firm DTZ said yesterday.

Electronics sales may slow down

As the world’s biggest show of high-tech gadgetry gets under way this week in Las Vegas, the Consumer Electronics Association (CEA) is forecasting an end to the boom years of double-digit sales growth.

KOREA HERALD, South Korea

Front page

Lotte World II moves closer to approval

Lotte is likely to get its way to erect a 555-meter tall building near Seongnam Air Base after the Air Force agreed to discuss shifting one of the runways during a meeting mediated by the Prime Minister's Office yesterday.

First round of restructuring expected in two weeks

The first wave of corporate restructuring is expected to hit builders and shipyards within the month as the nation's financial watchdog and creditor banks speed up work to weed out nonviable firms, industry sources reported yesterday.

Business & Industry

More funds parked in short-term products

The amount of floating funds temporarily parked in short-term financial products has risen 24 percent since the end of September, industry data showed yesterday. According to Asset Management Association of Korea, as of Monday, 204.3 trillion won ($156.3 billion) was placed in various short-term investment tools operated by securities firms, banks and other financial companies.

Exporters face tighter environmental rules

Korea needs to quickly adapt to dramatically changing export conditions this year as major exporting destinations tighten environmental standards and import regulations, the Korea Trade-Investment Promotion Agency said yesterday.

NEW STRAITS TIMES, Malaysia

Front page

Doctors, supplies head for Rafah

Three Malaysian Red Crescent Society doctors and its disaster manager leave for Rafah, Egypt, tomorrow with medical supplies and other relief materials.

Two Malaysians allegedly jailed in Vietnam for credit card fraud

A Hanoi court is believed to sentence two Malaysians - Tan Wei Hong, 26, and Cham Tack Choi, 23, to seven years in prison on Wednesday on charges of using fake credit cards, the Vietnam news agency reported.

Business & Industry

Satyam head quits, admits books doctored

The company overstated its cash and bank balances by more than 50 billion rupees in its September-end balance sheet, says founder B. Ramalinga Raju

Dubai building boom cooling?

The cancellation of a massive contract awarded to a joint-venture company in which WCT Bhd participated is prompting some analysts to take a closer look at Dubai.

BUSINESS TIMES, Singapore

Front page

Marks & Spencer closes stores, cuts jobs

Marks & Spencer, Britain's biggest clothing retailer, will cut jobs and close stores after a sharp fall in sales that added to pressure on the Bank of England to cut interest rates to a record low this week.

Satyam boss confesses to cooking the books

In a stunning development, the founder- chairman of Satyam Computer Services, a superstar in Indian IT services, has resigned after admitting that he falsified accounts and assets.

Business & Industry

Japan ponders move to inject funds into regional banks

Japan's government is looking at a plan to inject public funds into 40 or more regional banks, whose capital bases are being hurt by rising bad loans amid the financial crisis, the Mainichi newspaper reported yesterday.

Eurozone inflation plunges to 26-month low

Eurozone inflation plunged more than expected to a 26-month low in December as the economy slowed sharply, data showed on Tuesday, knocking back the euro on expectations of a deep ECB rate cut next week.

BANGKOK POST, Thailand

Front page

UDD threats force summit to be moved to Hua Hin

The Abhisit government has decided to move the Association of Southeast Asian Nations (Asean) summit next month to Hua Hin where tighter security can be provided and anti-government protesters more easily contained.

Poor get further reprieve

The new Abhisit government plans to extend water, bus and electricity subsidies for six more months to help assist low-income households struggling with the sharply slowing economy.

Business & Industry

CP All plans B5bn expansion in 2009

CP All Plc, the local operator of 7-Eleven convenience stores, plans to spend five billion baht to expand its business this year.

Mall Group creates new strategy for the downturn

The Mall Group, the country's second-largest department store chain, will adopt new business strategies to cope with economic uncertainties this year.

JAKARTA POST, Indonesia

Front page

Commuters to see no longer carriages, platforms

Train stations in Jakarta will soon have longer platforms to accommodate longer chain of electric train (KRL) carriages.

Poetry on stikers, walls fills city

Not only has Jakarta's air been filled with dust and carbon-fuel emissions lately, but also with the poetic words featured on 12,000 stickers, 10 murals and 500 T-shirts.

Business & Industry

Govt to spend big on highways

The Public Works Ministry is to allocate Rp 17.5 trillion (US$1.54 billion) for making new roads and improving existing roads and facilities as part of a massive government spending program on infrastructure.

RI exports still grow by finding new markets

Indonesia's exports of non oil and gas commodities will be affected as the global economic downturn slashes demand, although exports could still grow by up to 8 percent this year as firms diversify export destinations.

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly