In Friday's Asia papers

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

Front page

Shinsei, Aozora banks set to merge
Shinsei Bank Ltd. and Aozora Bank Ltd., both running deficits and heavily in debt to the government, have decided to merge in autumn 2010 as a way to streamline and rebuild their operations, sources said Thursday.

Investment firm head held in share scam
Tokyo prosecutors arrested the president of an investment advisory firm over suspicions he orchestrated a scheme to inflate the share price of a company in which he held stock.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

Beijing steps up heat on Google
The world's most popular search engine has been dragged into what appears to be an escalating row between China and the United States on Internet controls.

NDRC may not pass Hummer deal
China's top economic planning agency is inclined to reject Sichuan Tengzhong Heavy Industrial Machinery's bid to buy the Hummer brand from the GM, report said.

Business & Industry

China discovers 'Asia's largest' iron deposit
Geologists have discovered an iron ore deposit with an estimated reserve of more than 3 billion tons in northeast China's Liaoning province, or the largest in Asia, a local official said Wednesday.

China to carry out rural social pension projects
China's State Council reached a decision at an executive meeting on Wednesday to promote a new type rural social pension pilot projects.

TAIPEI TIMES, Taiwan

Front page

DPP calls for release of Chen
The government's detention of former president Chen Shui-bian is groundless, the Democratic Progressive Party (DPP) said yesterday, calling for the immediate release of Chen, who has been incarcerated for more than 200 days on corruption charges.

Ma registers as the sole candidate in KMT poll
President Ma Ying-jeou yesterday registered as the sole candidate for the Chinese Nationalist Party (KMT) chairmanship election, vowing to dispose of dubious party assets and rely on fundraising to finance future campaigns.

Business & Industry

Central bank keeps interest rates low
The nation’s central bank yesterday kept its benchmark interest rates at the current low level on concerns the economy remains sluggish, though the downturn bottomed out in the first quarter.

Banks to maintain policy: HSBC
After massive interest rate cuts, central banks worldwide including the US Federal Reserve and Taiwan’s central bank will maintain a loose monetary policy before the year’s end, Arjuna Mahendran, Hong Kong-based managing director and head of investment strategy for Asia at HSBC Private Bank, said yesterday.

KOREA HERALD, South Korea

Front page

Will centrist politics work?
In a move symbolic of his shift to centrist politics and warmer conservatism, President Lee Myung-bak yesterday visited a struggling market district in northern Seoul dotted with street vendors and small shops.

U.S. monitoring several N.K. ships
The United States said Wednesday it is closely monitoring several North Korean ships allegedly carrying weapons of mass destruction for possible proliferation, although it was tailing only one at the moment, according to South Korea's Yonhap News Agency yesterday.

Business & Industry

'Revised growth outlook is optimistic'
Skepticism met the government's 2009 growth forecast of a 1.5 percent contraction for the Korean economy, as stimulus spending will be more difficult in the second half. The government's second-half economic policy should focus on facilitating corporate investment through deregulation and acceleration of corporate restructuring, should it achieve a sustainable economic recovery, they said.

New 50,000 won notes draw complaints
Confusion and controversy surrounded the first days of 50,000 won banknotes in circulation, the highest denomination bill ever issued in Korea.

NEW STRAITS TIMES, Malaysia

Front page

Deputy CM on self-quarantine
Sabah Deputy Chief Minister Datuk Peter Pang En Yin and his family have imposed self-quarantine, after his son returned from Melbourne last week.

Sarawak power project extends to rural areas
Ninety per cent of people in Sarawak will enjoy electricity by the end of next year, state Second Minister of Planning and Resource Management Datuk Amar Awang Tengah Ali Hassan said yesterday.

Business & Industry

Petronas profit falls
National oil company Petroliam Nasional Bhd's (Petronas) full-year net profit fell for the first time in seven years owing to lower crude oil prices and higher costs, its chief said.

EON Cap targets up to RM500m via share sale
EON Capital hopes to raise up to RM500 million from its proposed RM1 billion Innovative Tier 1 Capital Programme to boost its capital structure.

BUSINESS TIMES, Singapore

Front page
No new updates

Business & Industry
No new updates

BANGKOK POST, Thailand

Front page

Target: Tak Bai judges
Southern insurgents are threatening the lives of the two senior judges who presided over last month's inquest into the 2004 Tak Bai deaths.

Temple 'not on agenda'
Cambodian leader Hun Sen won't talk about Preah Vihear when Deputy PM Suthep Thaugsuban visits him in Phnom Penh on the weekend.

Business & Industry

US economy shrank 5.5% in Q1
Not as bad as the previous estimate of a 5.7 percent drop

S.Korea economy less gloomy
South Korea has said the economic downturn has eased and it now expects a contraction of 1.5 percent this year

JAKARTA POST, Indonesia

Front page

Canada PM worries about swine flu on reserves
Canadian Prime Minister Stephen Harper said Thursday officials cannot explain why the Aboriginal community in northern Canada appears to be getting hit harder by swine flu.

Business & industry
No new updates.

By: Staff Reporter
+44 20 8652 3214

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