In Tuesday's Asia papers

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

ASAHI SHIMBUN, Japan

Front page

Aso, Ota agree to extend Diet until July 28
The ruling coalition decided Monday to extend the current Diet session by 55 days until July 28, leaving the date wide open for a Lower House election.

Limited fallout from GM collapse
The collapse of U.S. auto giant General Motors Corp. will have a limited fallout on Japan, government officials and industry analysts said Monday.

Business & Industry

No new updates

CHINA DAILY, China

Front page

Plane with 9 Chinese crashes into sea
Nine Chinese nationals were among the 228 people on board an Air France passenger plane which is presumed to have crashed into the Atlantic Ocean, the airline company said Monday.

China & Malaysia: A new era of rapport
Malaysian Prime Minister Dato' Sri Mohd. Najib Tun Razak, on a trip to China, called for closer ties between the two countries in an article published on China Daily.

Business & Industry

China, Japan to hold second high-level economic dialogue
The second China-Japan high-level economic dialogue is scheduled to be held on June 7 in Tokyo, Chinese Foreign Ministry spokesman Qin Gang said in Beijing on Monday.

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.

TAIPEI TIMES, Taiwan

Front page

Icon fades as GM files for bankruptcy
General Motors Co (GM) filed for bankruptcy yesterday, forcing the 100-year-old automaker once seen as a symbol of US economic might and dynamism into a new and uncertain era of government ownership.

Air France plane with 228 aboard goes missing
An Air France jet carrying 228 people on a Rio de Janeiro-Paris flight was feared to have crashed into the Atlantic Ocean yesterday after suffering an electrical failure while flying through a fierce storm, officials said.

Business & Industry

PRC delegation brings big firms
Lenovo Group, Haier Co and Changhong Electric Co are among more than 40 Chinese firms that could purchase approximately US$2 billion in products from Taiwan on a procurement visit that began yesterday, the Taiwan External Trade Development Council (TAITRA) said.

PRC manufacturing expands: surveys
China’s manufacturing expanded last month, adding to signs that the world’s third-largest economy might be recovering from its slump, but growth was weak despite huge stimulus spending, two surveys released yesterday indicated.

KOREA HERALD, South Korea

Front page

'North Korean leader names 3rd son as successor'
North Korean authorities have notified the country's key institutions that leader Kim Jong-il has designated his third son, Kim Jong-un, as his successor, a source on North Korean affairs said Monday, according to Yonhap News.

Seoul, ASEAN condemn N.K. nuclear test
The leaders of South Korea and Southeast Asia yesterday condemned the North's nuclear test as a provocative act that threatens peace and stability.

Business & Industry

KT completes merger with KTF
KT Corp. officially completed the process of absorbing its mobile subsidiary KTF yesterday, creating a company that controls about 90 percent of the country's fixed-line market and close to 30 percent of its mobile telecom market.

KOSPI's Q1 growth ranks top among OECD
KOSPI-listed shares have increased by 7.27 percent in value in the first quarter of the year, making it the best performing index in the Organization for Economic Cooperation and Development.

NEW STRAITS TIMES, Malaysia

Front page

President's family wait in the wings
MIC politics may be a family affair after Datuk Seri S. Samy Vellu steps down as president.

Business & Industry

Maxis dismisses talk of merging with Astro
Maxis says it considers the plan to inject Maxis into Astro contained in the OSK report to be 'totally without basis' and 'speculative'

GM files for bankruptcy
The bankruptcy filing is the third largest in US history and the largest ever in US manufacturing

BUSINESS TIMES, Singapore

Front page

Japan: Nikkei gains 0.8% on US economy hopes
Japan's Nikkei average gained 0.8 per cent on Tuesday, as US manufacturing data reported the previous day reinforced hopes that demand would stabilise, while automakers such as Toyota gained after General Motor's bankruptcy filing helped remove uncertainty about the US carmaker's fate.

NZ, M'sia agree on free trade deal
New Zealand has agreed a free trade agreement with Malaysia, its seventh-biggest trading partner, aimed at boosting business worth around US$1.6 billion a year, the trade minister said on Tuesday.

Business & Industry

NOL plans US$972m rights issue to cut debt
Neptune Orient Lines (NOL), the world's seventh-largest container shipping firm, plans to raise $1.4 billion (US$972 million) in a rights issue, backed by Singapore state investor Temasek, to repay debt.

NOL's rights issue to improve balance sheet: Temasek
Singapore state investor Temasek said on Tuesday it supports the planned rights issue by Neptune Orient Lines (NOL) because it would allow the firm to seize investment opportunities.

BANGKOK POST, Thailand

Front page

Cutting ticket costs
If city buses were not so cheap, Bangkok people would not tolerate them. So what is this deal?

Prices continue to drop
Consumer prices contracted 3.3 per cent year-on-year in May, the fifth consecutive month of decline, due to a fall in fuel and public transportation prices.

Business & Industry

GM files for bankruptcy
Seeking a quick restructuring to emerge leaner and wipe out massive debts.

Sale of Chrysler to Fiat approved
A US bankruptcy judge approved the sale of distressed US automaker Chrysler to Fiat

JAKARTA POST, Indonesia

Front page

Reports: North Korea Kim's youngest son named successor
News reports say North Korea has sent a message to its diplomatic missions abroad that Kim Jong Il's youngest son has been named as the communist regime's next leader.

Judge OKs use of GM bankruptcy financing
A bankruptcy judge ruled Monday that General Motors Corp. can have immediate access to $15 billion in government financing as it attempts to quickly restructure under court protection.

Business & industry

No new updates.


By: Staff Reporter
+44 20 8652 3214



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