In Monday's Asia papers

01 June 2009 02:00  [Source: ICIS news]


Front page

Firms brace for GM bankruptcy
Automakers and parts suppliers are preparing for the potential fallout from the failure of U.S. icon General Motors Corp., which is expected to end an era of American industry Monday by filing for bankruptcy protection.

9 insurers' assets fall by 9.5 trillion yen
The global financial crisis has hit Japan's life insurers hard, with nine major companies reporting a combined 9.5 trillion yen drop in net assets for the 2008 fiscal year that ended in March.

Business & Industry

No new updates


Front page

Geithner looks to sell safety of US bonds
Visiting US Treasury Secretary Timothy Geithner is expected to reassure China of the safety of its investments in the US and resist the temptation of trade protectionism -- crucial to woo further Chinese lending to the world's largest borrower.

China raises gasoline, diesel prices
China will raise gasoline and diesel benchmark retail prices by 400 yuan per tonne, the National Development and Reform Commission announced.

Business & Industry

Futures trading volume up 60% in May
China's futures trading volume in May totaled 138 million lots, up 60 percent from a year earlier, but down 20 percent from April.

Guangdong sees hope of recovery
Guangdong province witnessed a slower decline of external trade, a rally in industrial production and a steady growth in investment against the current global downturn in the first four months.


Front page

Taiwan lowers flu alert to level two
The Central Epidemics Command Center (CECC) yesterday lowered the nation’s swine flu alert from level three to level two, meaning that while Taiwan has imported A(H1N1) cases, no spreading at the community level has been observed.

Thousands rally in Hong Kong ahead of June 4
Thousands of protesters marched through Hong Kong yesterday to commemorate the crackdown on pro-democracy demonstrations in Beijing 20 years ago, including one of the leaders from Tiananmen Square.

Business & Industry

More than 1,700 firms attend Computex
A Computex spokesman said that the number of companies had only slightly declined since last year, showing resilience amid the global recession

Nineteen firms from overseas to list in Taiwan
The head of Taiwan Stock Exchange Corp said he expected the number of overseas firms listing in Taiwan to grow to between 20 and 25 this year


Front page

Lee calls for ASEAN-Korea unity
President Lee Myung-bak yesterday called for unity between Korea and Southeast Asia through economy, culture, and efforts to save the Earth.

Bilateral talks kick off ASEAN summit
President Lee Myung-bak kicked off his diplomacy with Southeast Asian leaders with a flurry of bilateral talks over the weekend that focused on economic cooperation and the security threat from North Korea.

Business & Industry

Korean, ASEAN CEOs discuss trade, investment
Corporate leaders from Korea and members of the Association of Southeast Asian Nations opened their two-day forum yesterday to discuss ways to overcome the global economic crisis and achieve co-prosperity in the region.

Securities firms forecast recovery in Q4
Major brokerages expect Korea's economic growth rate to be between minus 2.2 percent and minus 1.7 percent this year. The projections for the contraction are a little more optimistic than those of the Bank of Korea (minus 2.4 percent), Korea Development Institute (minus 2.3 percent) and Samsung Economic Research Institute (minus 2.4 percent). Hyundai Research Institute forecast a 2.2 percent shrinkage and LG Economic Research Institute a 2.1-percent contraction.


Front page

More study centres in pipeline
More prepa-ratory centres for students will be set up in mosques and libraries here, said Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop.

14,000 coming for Ipoh's big race
The Ipoh International Run 2009 on July 5 will be flagged off at Stadium Indera Mulia here instead of Dataran Ipoh.

Business & Industry

MRCB looks to property boost
About half of the group's revenue next year will likely come from the property business, says MRCB group managing director

Tan & Tan: Niche marts will still attract buyers
Property developer Tan & Tan Development Bhd says demand for residential properties, particularly in niche markets, remains strong.


Front page

UK industry sees recovery after record 2009 fall
British manufacturing output is set for a record fall in 2009, but growth could return by the end of the year, the Engineering Employers Federation said on Monday.

Olam's shares up 4.1% after stake sale
Shares of Singapore's Olam International jumped as much as 4.1 per cent on Monday after the company said state investor Temasek Holdings will buy 13.8 per cent of its enlarged capital for $437.5 million (US$303.2 million).

Business & Industry

S'pore: Shares rise 1.1%
Singapore stocks started the week firm with the Straits Times Index up 26.16 points or 1.12 per cent at 2,355.24 on volume of 85.9 million shares.

Olam sells stake to Temasek for US$303m
Singapore's Olam International said on Monday it has agreed to sell 13.76 per cent of its enlarged capital to state investor Temasek Holdings for $437.5 million (US$303.2 million).


Front page

Korea calls for close ties
South Korea has imposed heavy security for its Monday summit with Asean leaders because of the North Korean nuclear and missile tests.

Bus project in reverse
The coalition Bhumjaithai Party is backtracking from its effort to push ahead with the controversial 67.9-billion-baht bus leasing scheme.

Business & Industry

Giving yourself an edge: The Heart of Innovation
To survive or compete today, you need to have an edge that makes you different. This edge, or innovation, can be a process, a design.

GM bondholders 'approve deal'
The government's rescue plan for GM could put as much as 72.5% under state ownership.


Front page

No new updates.

Business & industry

No new updates.

By: Staff Reporter
+44 20 8652 3214

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