In Tuesday's Asia papers

21 April 2009 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

Front page

Minshuto leading LDP in local elections

In what could be a harbinger for a change in government after the next Lower House election, the opposition Minshuto (Democratic Party of Japan) has scored impressive victories in local assembly and mayoral elections since January.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

Navy kicks off 60th anniversary celebration

China's People's Liberation Army (PLA) kicked off a grand maritime ceremony to mark the 60th anniversary of its navy at 6 p.m. Monday off the coast of the eastern city of Qingdao, Shandong province.

China drives sales for global majors

The China market beckons as a bright beacon for global automakers floundering in other choppy vehicle markets hit hard by the global financial crisis.

Business & Industry

China to build 5 nuclear power stations in 2009

China plans to build five nuclear power stations in the eastern and southern regions this year, the country's energy planner said in Beijing on Monday.

Global automakers woo Shanghai auto expo

Global automakers gripped in an industry recession are wooing chances of the upcoming Shanghai auto expo as China overtook America to become the world's largest auto market in the first quarter.

TAIPEI TIMES, Taiwan

Front page

DPP says Jackie Chan not welcome

The Democratic Progressive Party (DPP) yesterday called on the Taipei City Government to replace action star Jackie Chan as spokesman for the Deaflympics.

CIA waterboarded al-Qaeda suspect 183 times: memo

CIA interrogators used waterboarding, the near-drowning technique that top officials from the administration of US President Barack Obama have described as illegal torture, 266 times on two key prisoners from al-Qaeda, far more than previously reported.

Business & Industry

Credit Suisse downgrades banks

Credit Suisse downgraded the nation’s major financial service providers including Cathay Financial Holding Co after financial stocks overreacted to unrealistic expectations that the government would sign a memorandum of understanding (MOU) with China similar to the one Hong Kong signed in 2003.

Taiwan to cross-list funds on Asian stock exchanges

Asian stocks edged higher yesterday as the Chinese premier’s positive assessment of the world’s third-largest economy helped soothe nerves ahead of key earnings reports from leading US companies.

KOREA HERALD, South Korea

Front page

Korea first out of gate in recovery

Korea may see the fastest economic recovery among the world's major economies, a report showed yesterday.

Lee goes bike to basics

Wider bicycle use has become so crucial to President Lee Myung-bak's "green revolution" that he devoted an entire regular policy address yesterday to promote it.

Business & Industry

POSCO chief an agent of change at steelmaker

Since POSCO chief executive Chung Joon-yang took over the world's fourth-largest steelmaker two months ago, he has been aggressively pushing to change the company's corporate culture, company officials and industry watchers said yesterday.

Experts raise red flag for KOSPI advance

The KOSPI, which soared nearly 30 percent in just a month may soon enter a correction phase, with some predicting a fall to near 1,200 points, experts warned yesterday.

NEW STRAITS TIMES, Malaysia

Front page

Pahang MB ordered to pay logging firm RM63 million

The High Court yesterday allowed an application by logging company Seruan Gemilang Makmur Sdn Bhd to compel Menteri Besar Datuk Seri Adnan Yaakob to pay it RM63 million for breach of contract.

Business & Industry

Affin eyes Islamic operations in China

Affin Holdings Bhd together with its foreign partner Bank of East Asia (BEA) has put into motion plans to set up an Islamic banking business in China.

Wah Seong planning overseas purchase

Wah Seong Corp, Malaysia's third biggest oil and gas services provider, plans an overseas acquisition in the second half that will increase sales by 20 per cent following a slump in asset prices.

BUSINESS TIMES, Singapore

Front page

Dubai home prices fell 42% in past 6 months

Dubai house prices have fallen as much as 42 per cent in the past six months and are likely to drop further as new homes are completed amid waning demand in the Persian Gulf business hub, Colliers CRE plc said.

Profits not the bottom line for bleak Q1

Profits for the first quarter of 2009 will be dismal - but analysts will not care. About 400 companies are expected to post their first-quarter profits by May 15.

Business & Industry

Obama's revenue raising plans hit Congress roadblock

President Barack Obama is running into stiff congressional resistance to his plans to raise money for his ambitious agenda, and the resulting hole in the budget is threatening a major health care overhaul and other policy initiatives.

British lobby group says worst of recession over

A major business lobby group predicted yesterday that the worst of Britain's recession may be over, but growth would only resume next year, in a forecast just days before ministers unveil a crunch budget.

BANGKOK POST, Thailand

Front page

MP amnesty on the table

Prime Minister Abhisit Vejjajiva has brushed aside calls for a cabinet reshuffle but is not ruling out the possibility of pushing for an amnesty for politicians banned from politics.

Police pay for Asean fiasco

Two senior police officers have been transferred to inactive posts for failing to prevent red shirt protesters from storming the Asean summit on April 11 in Pattaya.

Business & Industry

Auto sales on the road to recovery

A faster-than-expected recovery of vehicle sales in Thailand and overseas markets could see the domestic auto industry hit its production target with only minimal additional job losses this year, experts say.

'Powerless' ICT minister refuses to meet with TOT and CAT

The information and communications technology minister, Ranongruk Suwunchwee, refuses to meet with the two state telecoms enterprises because she is effectively powerless, says a government source.

JAKARTA POST, Indonesia

Front page

Yudhoyono wants 'loyal, interest-free' running mate

President Susilo Bambang Yudhoyono will take loyalty and the absence of vested interests into account in selecting his potential running mate for the upcoming  presidential election.

SBY: three presidential candidates to contest July election

President Susilo Bambang Yudhoyono said Sunday it was almost certain he would face former president Megawati Soekarnoputri in the presidential election once again, but with different vice presidential candidates.

Business & Industry

Liquidation of IFI a stern warning to small banks

The liquidation of Bank IFI sent a stern signal that the threat of the credit  crunch remains real, and banks — particularly small ones — have little option but to bolster their capital.


By: Staff Reporter
+44 20 8652 3214



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