In Friday's Asia papers

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


Front page

Minshuto to ban politics as family pursuit
Taking a swipe at nepotism within the ruling party, the main opposition Minshuto (Democratic Party of Japan) declared Thursday it would ban the practice of Diet members allowing relatives to "inherit" their political constituencies.

Anti-piracy bill for foreign MSDF missions passes Lower House
A government-sponsored bill that would enable the dispatch of the Maritime Self-Defense Force (MSDF) on anti-piracy missions abroad cleared the Lower House without amendment Thursday, despite continued resistance from opposition parties.

Business & Industry

No new updates.


Front page

Nuclear submarines lead navy fleet parade

Two nuclear-powered submarines making their public debut Thursday led a spectacular parade of a Chinese navy fleet in an unprecedented demonstration of China's maritime might.

Crisis pushes up jobless rate to 4.3%

China's urban registered unemployment rate hit 4.3 percent, a 0.1 percentage-point higher than the first quarter, the Ministry of Human Resources and Social Security said.

Business & Industry

IMF projects China 2009 growth at 6.5%
The International Monetary Fund (IMF) said on Wednesday that the economic growth in China is projected to slow to about 6.5 percent this year.

Cities set to jointly fight air pollution
Ensuring clean air will no longer be the task of a single city - it will be the responsibility of a cluster of cities whose pollutants affect each other, according to a plan being finalized by the government.


Front page

US may launch Taiwan Policy Review
A full Taiwan Policy Review was first conducted in 1979 after Washington shifted recognition to Beijing, with a second taking place 15 years later

Clinton says Pakistan is abdicating to the Taliban
Pakistan’s government has abdicated to the Taliban in agreeing to impose Islamic law in the Swat valley and the country now poses a “mortal threat” to the world, US Secretary of State Hillary Clinton said on Wednesday.

Business & Industry

Export orders rose 18.99% last month: MOEA
In addition to rush orders from China, orders from Europe and Japan increased 13.79 percent and 18.22 percent last month, figures showed

IMF cuts Taiwan GDP forecast
The forecast of a 7.5 percent contraction would put Taiwan behind South Korea and Hong Kong, but ahead of Singapore’s expected 10 percent decline


Front page

Korea to inject W8.7tr into shipping industry
The government will spend 8.7 trillion won ($6.4 billion) to assist the nation's struggling shipping industry hit hard by a slump in global trade, officials said yesterday.

'Koreas to meet in near future'
South Korea is likely to meet with North Korea in the near future to discuss their joint industrial venture in Gaeseong, but has not decided on a date yet, Seoul officials said yesterday.

Business & Industry

[NEWS FOCUS]Brokerages struggle to enhance profit potential
Local brokerages are devising an array of solutions to improve their profit margins, as most saw a huge decrease in net income for fiscal 2008, industry officials said yesterday.

[NEWS ANALYSIS]Earnings surprises buoy sentiment
Were Korea's corporate executives and analysts too pessimistic? Early this year, many expected the worst to come in the first quarter as the global recession accelerated.


Front page

Syariah court to have more bite
The notion by some that syariah legislation is ineffective in curbing breach of Islamic laws is about to change.

'No fear of taking on opposition'
The Barisan Nasional does not fear taking on opposition parties in by-elections, said deputy Umno president Tan Sri Muhyiddin Yassin.

Business & Industry

YTL in RM3b broadband push
YTL e-Solutions Bhd (YTLE), a subsidiary of YTL Corp Bhd, plans to pump in almost RM3 billion to set up a wireless broadband network in Peninsular Malaysia over the next five years.

Novotel Hydro Majestic Hotel put up for sale
Hotel operator and property developer Pulai Springs Bhd has put its two-year-old Novotel Hydro Majestic Hotel in Kuala Lumpur up for sale, sources say.


Front page

S Korea economy grows 0.1% in Q1, avoids recession
South Korea has avoided recession by recording positive economic growth in the first quarter after a sharp fall in exports moderated, the central bank said on Friday.

Chinese economy to improve in Q2: Govt economist
China's economic growth will clearly improve in the second quarter, boosted by increasing investment and a slower deterioration in exports, a leading government economist said in remarks published on Friday.

Business & Industry

Samsung Q1 profit beats forecasts, down 72%
Samsung Electronics, the world's top maker of memory chips and LCD screens, reported on Friday a 72 per cent drop in quarterly net profit on weak chip prices, but the result vastly exceeded forecasts thanks to strong handsets.

NEC Elec, Renesas agree to merge next April
Japan's NEC Electronics Corp and Renesas Technology have struck a basic agreement to merge around next April, the Nikkei business daily reported on Friday, in a move that would create the world's third-largest chipmaker.


Front page

Dissolution 'still possible'
The Prime Minister says dissolution of parliament remains one alternative, but he intends to use it only if he thinks it is appropriate.

Prem lashes out at Thaksin
Says Gen Prem: I like to pray to Phra Siam Devathiraja to ... deliver misfortune to people with ill intentions towards the country.

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.

Global economic crisis 'far from over'
IMF forecast the global economy would contract 1.3 percent this year, before recovering to sluggish growth of 1.9 percent in


Front page

Yahoo to close GeoCities, other services in revamp
Yahoo Inc. said Thursday it plans to close GeoCities, a Web site publishing and hosting service it bought in May 1999 at the height of the dot-com boom for around $3 billion in stock.

S. Korean economy shrinks 4.3 percent in 1st quarter
South Koreas economy contracted 4.3 percent in the first quarter of 2009 from the same period last year, as manufacturing and exports slumped amid the global downturn, the Bank of Korea announced Friday.

Business & industry

Govt to allocate Rp 19t for railway revitalization
The government will set up a new company specializing in developing and maintaining railroads, and will allocate a total of Rp 19 trillion over the next three years as part of its plan to revitalize the country’s railway transportation system, a senior government official says.

Bakrie’s loan maturity period extended
PT Bakrie and Brothers, controlled by the powerful family of Coordinating Minister for the People’s Welfare Aburizal Bakrie, has proven unbeatable when it comes to beating a debt trap.

By: Staff Reporter
+44 20 8652 3214

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