In Friday's Asia papers

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

ASAHI SHIMBUN, Japan

Front page

Minshuto will end wasteful projects
The main opposition party, in its draft manifesto for the upcoming Lower House election, pledges to stop construction of two controversial dams within four years if it comes to power.

Muneo ally loses final court appeal
Masaru Sato, dubbed "the Rasputin of the Foreign Ministry," has lost his final appeal against a suspended prison term for misusing state funds and interfering in bidding for an aid project in the disputed Northern Territories.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

G8 Summit talks likely to turn to dollar
China would like to see a diversification of the international currency system in the future and believes it would be "normal" if the issue came up at the Group of Eight summit.

Foreign firms invited to list in China
With the goal of building Shanghai into a world-class financial hub, China is showing renewed interest in inviting foreign-funded firms to be listed in the country.

Business & Industry

Cardin takeover poses challenges for Chinese firms
While analysts are skeptical whether the Chinese firms have the management skills to ensure the long-term success of the brand, an online survey has found that 78.2 percent of Chinese consumers would not buy Pierre Cardin products after the takeover.

Fuel price rise triggers public debate
China's latest fuel prices hike sparked widespread debate as consumers grumbled that the record domestic prices were even higher than those in the United States.

TAIPEI TIMES, Taiwan

Front page

Administration backs Ou on Chinese trade remark
The Presidential Office yesterday stood behind Minister of Foreign Affairs Francisco Ou after he said that the government did not oppose Taiwan’s diplomatic allies and China establishing economic and trade offices in each other’s countries.

US appoints AIT director Stanton
William Stanton, former deputy chief of mission to the US embassy in Seoul, South Korea, has been appointed new director of the Taipei office of the American Institute in Taiwan.

Business & Industry

Cabinet upholds shareholder rights
The proposed amendment would require listed firms to set up an electronic voting system and give them more flexibility in distributing earnings

TEEMA advises firms to expand investment target
A trade association report urged Taiwanese companies to consider India and ASEAN when drafting strategies for investment overseas

KOREA HERALD, South Korea

Front page

N. Korea test-fires short-range missiles
North Korea test-fired a pair of short-range missiles off its east coast on Thursday, officials in Seoul said, just hours after the communist state ended its talks with South Korea without progress over their joint industrial complex, according to Yonhap News.

W20tr fund to expand facility investment
The government said yesterday it would jointly launch a 20-trillion-won ($15.7-billion) private equity fund with state-run banks and institutional investors to prop up facility investment.

Business & Industry

Banks begin tightening mortgage standards
Bank mortgages are becoming harder to get in Korea, as commercial banks, mindful of the regulator's watchful eye, have started tightening lending standards.

Business chiefs urge parties to act on labor law
Heads of the nation's five-leading business lobby groups yesterday urged the ruling and opposition parties for a prompt resolution of the labor reform law which, as it stands, puts tens of thousands of contract workers at risk of job loss.

NEW STRAITS TIMES, Malaysia

Front page

Perak quarry ops to be relocated
Thousands of residents living in the vicinity of rock and limestone quarries in Perak can begin heaving sighs of relief.

Manik Urai by-election: Don't be fooled by Pakatan, voters told
People, particularly voters in Manik Urai, should take note of Pakatan Rakyat's folly and not be fooled by the unholy alliance, Kelantan Umno chief Datuk Mustapa Mohamed said.

Business & Industry

LTAT seen holding trump card in tussle for GBH
The opposing parties in the fight for Goh Ban Huat Bhd (3611) are digging in their heels but the kingmaker appears to be a government-linked pension fund.

RM250m in dividends from Valuecap
Valuecap has provided Khazanah Nasional, Permodalan Nasional and Pension Trust Fund Council returns of over a 100 per cent

BUSINESS TIMES, Singapore

Front page

M'sia: Shares open 0.8% down
Malaysian stock prices started weak on Friday morning after US stocks fell overnight.

US FDIC proposes tough private equity guidelines
Private equity groups seeking to buy failed US banks would have to maintain very high capital levels and remain owners for three years under tough guidelines proposed on Thursday that some bank regulators fear could deter needed investment.

Business & Industry

Japan: Nikkei falls 1.3% after bleak US jobs data
Japan's Nikkei stock average fell 1.3 per cent on Friday after data showed US employers cut far more jobs than expected in June, and revived caution about the outlook for the global economy.

US to give regulatory reforms details next week
The Obama administration is aiming to release detailed legislative language for its proposals on corporate governance, shareholder rights, and derivatives regulation next week, sources familiar with the plans said on Thursday.

BANGKOK POST, Thailand

Front page

Temple tensions mount
Talks between Thai and Cambodian generals on troop reductions to ease tension near the Preah Vihear temple have collapsed.

The day there was no coup
Thailand was very lucky to have avoided a coup after the Songkran riots but political uncertainties are not going away, says the deputy prime minister.

Business & Industry

Weak jobs data dashes recovery hopes
US job losses surged to 467,000 in June, pushing the unemployment rate to a new 26-year high of 9.5 percent

ECB keeps key interest steady
The European Central Bank kept its key interest steady at a record low of 1.0 percent

JAKARTA POST, Indonesia

Front page

French: Air France plane hit the sea belly first
Air France Flight 447 slammed into the Atlantic Ocean, intact and belly first, at such a high speed that the 228 people aboard probably had no time to even inflate their life jackets, French investigators say in their first report into the June 1 accident.

Business & industry
No new updates.

By: Staff Reporter
+44 20 8652 3214

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