In Friday's Asia papers

13 March 2009 01:00  [Source: ICIS news]


Front page

2 nonlife insurers in talks to merge

The nation's nonlife insurance industry, much like its banking sector, will be led by three giants in a year or so if a merger under discussion comes through.

Delay in benefits from highway toll cuts

A bottleneck in government planning for a much-heralded toll discount on highways could force countless drivers passing through urban areas to pay the rural fare twice when the system is introduced this month.

Business & Industry

No new updates.


Front page

CPPCC concludes, vowing to help promote economy

The Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) began its closing ceremony here Thursday morning, pledging efforts to help maintain steady and relatively fast economic development in 2009.

Hu, Obama set for green dialogue

The global economic crisis will not be the only item high on agenda when President Hu Jintao meets his US counterpart Barack Obama for the first time next month - green issues will also figure prominently.

Business & Industry

Billionaires' list shrinks by a third

The number of Chinese mainland billionaires on the world's rich list fell from 71 last year to 52 this year in the latest sign of the havoc wrought by the global financial crisis.

CBRC: Most financial products profitable in '08

Financial products sold by 83 banks in China raised up to 3.7 trillion yuan ($528.6 billion) in 2008, said an official from China Banking Regulatory Commission (CBRC) on Thursday.


Front page

China planning rail link to Taiwan

Taiwanese officials responded with caution yesterday to a Chinese official’s announcement of a plan to build a rail link between Beijing and Taipei.

Toronto envoy accused of insulting Taiwan

Democratic Progressive Party Legislator Kuan Bi-ling yesterday accused an overseas consulate official of publishing insulting remarks about Taiwanese.

Business & Industry

Lawmakers condemn bank charges

Legislators on the Finance Committee passed a non-binding resolution yesterday asking the Financial Supervisory Commission (FSC) to remove banks charging monthly maintenance fees on small savings accounts from its blanket deposit guarantee program.

Dassault Systemes shows local sales growth of 52%

Dassault Systemes SA (DS), the worldwide product life cycle management (PLM) leader, experienced sales growth last year of 52 percent in Taiwan across its four major industry focus groups, it said yesterday.


Front page

W6tr earmarked to support the poor

The government announced yesterday it will spend 6 trillion won ($4.1 billion) to support the poor, as more people are suffering from declining real income and disappearing jobs due to the deepening economic downturn.

N. Korea to launch 'satellite' April 4-8

North Korea has notified international agencies of its plan to launch its Gwangmyeongseong-2 satellite between April 4-8, Seoul officials said yesterday.

Business & Industry

Effect of cash subsidies may be limited

The government's decision to provide direct support for the living costs of the poor is a move in the right direction, but it will have a limited effect on overall domestic demand, experts said yesterday.

SC First, Citibank blamed for KIKO contracts

Companies badly hit by Knock-in Knock-out currency option deals are under mounting pressure from banks to pay up, industry officials said.


Front page

Azalina: No anti-graft officer has called me

"I'm continuing my duties as usual. No MACC officer has contacted me regarding this case." This was the response from Tourism Minister Datuk Seri Azalina Othman Said, caught in the centre of an investigation involving money politics and abuse of power.

MACC opens two files against Tourism Minister

The Malaysian Anti-Corruption Commission (MACC) has opened two investigation papers against Tourism Minister Datuk Seri Azalina Othman Said over money politics and misuse of ministry funds.

Business & Industry

Tallest Four Seasons coming up in KL

TWO tycoons and a royalty will go ahead and build the RM2.5 billion Four Seasons Place in Kuala Lumpur although a global economic crisis threatens to hurt demand for expensive hotels and apartments.

RM1.4b sales seen for apartments

THE 140 units of luxury apartments at the Four Seasons Place may fetch as much as RM1.4 billion in sales when they are launched in the third quarter of the year.


Front page

Govt wants F1 race to be 'must-see' event

THE government wants to make sure Singapore's Formula 1 Grand Prix remains one of the 'must-see' races on the annual Formula 1 calendar, Senior Minister of State for Trade and Industry S Iswaran said yesterday.

Better-armed MAS to go after errant FIs

The Monetary Authority of Singapore (MAS) is seeking more muscle to prosecute errant financial institutions (FIs). Investors can then ride on the coat-tails of successful prosecution to get compensation

Business & Industry

Singapore committed to Jurong oil storage project

THE government is committed to the Jurong Rock Cavern (JRC) oil and petrochemical storage project and is looking at other creative solutions such as floating oil storage to alleviate the land shortage on Jurong Island, Senior Minister of State for Trade and Industry S Iswaran said yesterday.

Economist warns of global risks beyond current crisis

Beyond the ongoing economic crisis - which at least should be a thing of the past by 2012 - lurk some huge global risks that are here to stay, says the group chief economist of Zurich Insurance Company.


Front page

4,000 more troops for the far South

The government has approved another 4,000 security personnel for the far South in an effort to break the back of the insurgency and win back hearts and minds.

Thai trio still on billionaire list

Chaleo Yoovidhya, Charoen Sirivadhanabhakdi and Dhanin Chearavanont once again are the only billionaires in Thailand in the latest world wealth rankings by Forbes magazine.

Business & Industry

Central sets up M&A unit to spur growth

Central Retail Corporation (CRC), the country's largest retail chain, has set up a new business unit for mergers and acquisitions (M&A) to accelerate its growth, with an initial budget of three billion baht for this year.

Eco zone appeal sought

As many as 288 billion baht worth of ongoing petrochemical investments in Map Ta Phut could be put in jeopardy if the area is ruled a pollution control zone, according to business leaders. Up to 3,400 jobs could also be lost if tighter emission controls are imposed in the region, they say.


Front page

Conference urges revision of Islamic jurisprudence

Muslim scholars and women's rights activists have called for a review of fiqh (Islamic jurisprudence), saying the outdated legal system marginalizes women.

RI's first defense university inaugurated

President Susilo Bambang Yu-dhoyono inaugurated Wednesday Indonesia's first-ever university dedicated entirely to defensestudies.

Business & Industry

Total workers laid off reach over 200,000: Apindo

The wave of layoffs amidst the economic downturn has affected 237,500 workers nationwide between October and March, far exceeds government reports.

Guarantee for 2nd 10,000 MW project prepared

The government is preparing a guarantee scheme for independent power producers (IPPs) involved in the second-phase of 10,000 megawatt (MW) power project, possibly on similar lines to the guarantees given during the first phase of the project.

By: Staff Reporter
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