In Wednesday's Asia papers

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

ASAHI SHIMBUN, Japan

Front page
No new updates

Business & Industry
No new updates

CHINA DAILY, China

Front page

GM to sell Hummer to Chinese company
General Motors said Tuesday it reached a tentative deal to sell its Hummer brand to a privately held Chinese company.CEO: China 'Critical' to New GM

Geithner: US committed to less deficit
Watch us and watch what we do - in staging a strong recovery and controlling the deficit, US Treasury Secretary Geithner told China Daily.

Business & Industry

Direct financing volume halved in May
China's direct financing market cooled down last month after being affected by less debentures issuance, but analysts expect another boom in the coming months with the restart of IPOs.

Purchases of US bonds likely to continue
China may continue buying US Treasury bonds and other dollar-denominated assets even though US government debt yielded the lowest return in three decades this year and the dollar is under pressure, experts say.

TAIPEI TIMES, Taiwan

Front page

Ma and Clinton exchange greetings
President Ma Ying-jeou had a brief exchange with US Secretary of State Hillary Clinton on Sunday in an unofficial but symbolic meeting.

KMT caucus blocks Tiananmen resolution
A proposed resolution calling on China to apologize for the Tiananmen Square Massacre stalled in the legislature yesterday after objections by Chinese Nationalist Party (KMT) lawmakers.

Business & Industry

Acer unveils first Android netbook
Acer Inc yesterday unveiled the world’s first netbook running on Google Inc’s Android-based operating system. The low-cost device is expected to hit the shelves in the third quarter.

Intel releases low-voltage processor
Intel Corp, the world’s top microprocessor maker, unveiled yesterday its new ultra-low-voltage processors for sleeker and more power-efficient laptop computers at affordable prices, saying the ultra-thin laptops would become mainstream in the foreseeable future.

KOREA HERALD, South Korea

Front page

ASEAN pressures N.K., boosts Seoul ties
South Korea and 10 Southeast Asian countries yesterday ratcheted up pressure on North Korea as they closed a two-day summit on bilateral relations and regional cooperation.

Full text of Korea-ASEAN summit joint press statement on N. Korea
The following is the full text of a joint press statement issued Tuesday by leaders of South Korea and the Association of Southeast Asian Nations (ASEAN) on the recent nuclear test conducted by the Democratic People's Republic of Korea (North Korea).

Business & Industry

GM Daewoo chief rules out sale
General Motors Corp. has no intention to sell its Korean subsidiary GM Daewoo Auto and Technology Co., the head of the troubled U.S. company's local unit said yesterday.

Brokerages brace for war with CEO shuffle
Eight securities firms in Korea have replaced their CEOs so far this year, which industry officials say may intensify competition in the financial services sector.

NEW STRAITS TIMES, Malaysia

Front page

Malaysian stocks may extend gains
MALAYSIAN shares could extend the week’s gains today, as strong US data raised hopes of a sustained economic recovery.

US shares edge up on home sales data
Wall Street stocks maintained upward momentum Tuesday a day after a sizzling rally as data showed pending home sales for April far better than expected.

Business & Industry

Builders: Stamp duty change stings
An amendment to the Stamp Duty Act has resulted in construction cost going up by between 1 per cent and 2 per cent, say builders

Crisis an opportunity to invest in Asia: Khazanah
Khazanah Nasional Bhd, the government's investment arm, wants to invest more in the region as the global recession is opening up opportunities in Asia's emerging markets.

BUSINESS TIMES, Singapore

Front page

S'pore: Shares up 0.6%
Singapore stocks opened higher on Wednesday morning with the Straits Times Index up 15.38 points or 0.65 per cent at 2,391.20 on volume of 122.5 million shares.

US Treasury raises GMAC stake with debt/equity swap
The US Treasury Department said on Tuesday it increased its equity stake in auto and consumer lender GMAC LLC to about 35.4 per cent by exchanging an US$884 million loan to General Motors Corp for part of GM's equity in GMAC.

Business & Industry

Markets not bracing for inflation: Fed's Fisher
Rising US long-term interest rates do not currently reflect fears of higher inflation, Dallas Federal Reserve Bank president Richard Fisher said on Tuesday.

US regulator says bank toxic asset plan 'critical'
The US government's plan to use private capital and government money to cleanse banks' balance sheets of toxic assets is still 'critical' despite some dampened expectations of the program, a bank regulator said on Tuesday.

BANGKOK POST, Thailand

Front page

Bus leasing controversial
The bus leasing project, backed by the Bhumjaithai Party, will be proposed again at the weekly cabinet meeting Wednesday.

Visit quits GPF
Visit Tantisunthorn is leaving the Government Pension Fund after intense pressure over the fund's alleged irregularities.

Business & Industry

GM Thai keeps its plan
Even though the United States giant car maker is expected to declare bankruptcy, its Thai unit would not be affected, insisted Steve Carlisle, president of General Motors (Thailand).

GM China 'still expanding'
Despite the woes of its parent, with new joint venture plans still on, an executive said Tuesday.

JAKARTA POST, Indonesia

By: Staff Reporter
+44 20 8652 3214

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