In Thursday's Asia papers

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


Front page

Chiba mayor arrested in bribery probe

Police on Wednesday arrested Chiba Mayor Keiichi Tsuruoka on suspicion of accepting a 1-million-yen bribe from a construction company vying to win a lucrative road project commissioned by the city.

Business & Industry

No new updates.


Front page

Sea change in thinking about China's navy

Strolling through the forest of steel, you cannot help but feel Qingdao is just another urbanizing Chinese city. But that all changes a few steps south, when the skyscrapers give way to a seemingly endless, blue sea gleaming under the sun.

Crisis dampens zeal to go global

The world financial crisis has severely dampened Chinese companies' enthusiasm for investing overseas, although many of them said they still want to go global, results of a survey showed on Wednesday.

Business & Industry

No new updates.


Front page

Legislative meeting ends in clashes

A legislative committee meeting intended to be a briefing on this weekends’ cross-strait talks ended abruptly yesterday amid physical confrontation.

ANC expects victory in South African election

The ANC sees Jacob Zuma as the first leader to energize voters since Nelson Mandela became the country’s first black president in 1994

Business & Industry

Unemployment rate reaches new high

The unemployment rate rose to a new high of 5.81 percent last month as more companies closed their doors or laid off workers to cope with the economic downturn, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

Insurer Aegon pulls out of Taiwan

Following in the footsteps of Prudential PLC and ING Groep NV, Aegon NV announced yesterday it would sell its Taiwanese life insurance unit to local investors, as the Dutch insurer expects the deal will have a positive impact on its cash flow and future earnings.


Front page

N.K. demands cast cloud over Gaeseong

Seoul will consider Pyongyang's demands for negotiations to review the existing contract on their joint industrial venture, Unification Minister Hyun In-taek said yesterday, prodding concerns of business challenges in Gaeseong.

Seoul caught in 'PSI trap'

South Korea yesterday reaffirmed its intention to fully join a U.S.-led counter-proliferation regime, but remained undecided about the timing and conditions

Business & Industry

Gaeseong firms weary of threats from North

South Korean companies operating at a joint industrial complex in North Korea expressed embarrassment over the North's latest threat that it would "review all preferential contracts" for South Korean factories "from scratch."

Banks to rate 10 firms 'financially unhealthy'

Creditor banks' assessment of 45 major business groups' fiscal 2008 financial statements show that nine or 10 companies fail to meet the standard of a financially healthy company, the Financial Supervisory Service said yesterday.


Front page

Move to liberalise economy: Service sub-sectors to soar with bold revamp

In a sweeping move towards liberalising the economy, the government yesterday removed the 30 per cent Bumiputera quota on equity ownership in 27 service sub-sectors.

Business & Industry

Maxis ups 3G ante

Maxis Communications Bhd will spend RM1.6 billion to improve its network this year, more than double the amount being invested by its rivals.

Binaik fourth to be taken private this year

The property developer will offer minority shareholders 75 sen a share, 23 per cent higher than its last closing price of 61 sen on Monday


Front page

Court blocks Richard Li's PCCW buyout

PCCW chairman Richard Li's plan to buy out the city's biggest phone carrier was blocked by the Hong Kong Court of Appeal yesterday after the city's stock-market regulator objected to the deal.

Najib relaxes bumiputra requirements

IN A BID to attract much-needed investments, Malaysia is scrapping its bumiputra equity requirement across 27 industries in the services sector - including health, tourism, transport and information technology.

Business & Industry

Geithner: Enough money left for economic initiatives

The Obama administration has enough money left for its economic initiatives with US$110 billion remaining in the federal financial rescue fund and US$25 billion more coming this year as some banks return bailout money or pay dividends on their government loans, Treasury Secretary Timothy Geithner said on Tuesday.

US Treasury weighs new mortgage plan

The US Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said.


Front page

Joint session turns ugly

The joint parliamentary session aimed at bridging the political divide turned into a slanging match yesterday with government and opposition MPs trading accusations and pointing fingers over Bangkok's Songkran mayhem.

Attempt on Sondhi's life puts military in dubious light

In a matter of days during the Songkran holiday the military has, in the perception of some people, switched from being a hero to a villain.

Business & Industry

Growth forecast slashed to -3.5%

The Thai economy could shrink by 3.5% this year as a result of the global recession and domestic political instability, according to the Bank of Thailand.

Export slump continues

Exports fell for a fifth straight month in March, bringing the first-quarter decline in dollar value to 20.55% year-on-year, as demand for industrial, agro-industrial and agricultural products fell.


Front page

Suspected rebels hijack train in India before vote

Communist rebels hijacked a train and briefly held 300 passengers before melting away into surrounding forests in one of a series of attacks in India that threatened to mar elections Thursday in the world's largest democracy.

Business & Industry

No new updates.

By: Staff Reporter
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