In Tuesday's Asia papers

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

ASAHI SHIMBUN, Japan

Front page

Aso sets Lower House election for Aug. 30
Embattled Prime Minister Taro Aso announced Monday the next Lower House election, a poll that many believe will spell defeat for the ruling coalition, will be held Aug. 30

Big-spending train buffs put business back on track
Businesses battered by the worst recession in postwar history have found an unusually rich vein of revenue--deep in the pockets of big-spending train buffs.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

China widens probe of steel industry
Ansteel is among five major Chinese steel makers reported to be embroiled in the espionage scandal linked to Anglo-Australian miner Rio Tinto, the latest episode in a widening investigation into alleged leaks of State secrets.

S budget deficit tops $1t for 1st time
The US deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about the strength of the dollar.

Business & Industry

Fiscal revenue up for 2nd straight month
The country's fiscal revenue went up by a large margin in June, marking a record high year-on-year monthly growth this year and the second positive growth since May.

SSF may trim stock market holdings
China's national government pension fund, the Social Security Fund (SSF), may cut its stock investments in the second half despite a 9.99-percent return on equity investments during January to June, analysts said.

TAIPEI TIMES, Taiwan

Front page

Chen’s detention extended two months
The Taipei District Court ruled yesterday to extend former president Chen Shui-bian’s incarceration at the Taipei Detention Center for two more months.

Activists, academics ‘surrender’ to protest law
More than 120 academics and human rights activists said yesterday they would turn themselves in to prosecutors for breaking the Assembly and Parade Act in a protest against the legislation.

Business & Industry

Chinese visit to help local suppliers
A visit by Chinese retailers is intended to help Taiwanese suppliers tap into China’s domestic market rather than place orders, but may still generate billions of NT dollars in business, trade officials from the two sides said yesterday.

Shares decline over delay in cross-strait trade pact
Share prices closed down 3.53 percent yesterday after the government said a bilateral trade agreement with China may not be signed this year, dealers said.

KOREA HERALD, South Korea

Front page

Korea, EU conclude FTA
Korea and the European Union yesterday declared the conclusion of more than two years of negotiations for a free trade agreement.

Korean firms beat rivals in downturn
Korea's big exporters are expected to have continued to outperform their overseas rivals in the second quarter despite the weakening effects of the local currency, industry officials said yesterday.

Business & Industry

Diversification secures KNOC steady oil supplies
Korea, though not a crude-producing country, aims to produce 300,000 barrels of oil products by 2012.

Korea, EU FTA to bring unprecedented benefits
The historic free-trade deal that is soon to be officially signed between Korea and the European Union is being lauded by experts as generally a comprehensive and positive deal for both sides.

NEW STRAITS TIMES, Malaysia

Front page

Govt to identify key result areas
Plans for the six national key result areas (N-KRAs) announced by Prime Minister Datuk Seri Najib Razak will take off in September. Minister in the Prime Minister's Department Senator Tan Sri Dr Koh Tsu Koon said yesterday the entire cabinet would go for a workshop to draft the plans late next month.

Polling begins in Manik Urai
Polling for the Manik Urai state by-election is now underway in nine polling centres.

Business & Industry

D-day for foreign hypermarts' franchise bids
The decision on whether foreign hypermarkets will be allowed to open convenience stores using the franchise concept will be known at the end of this month.

High cash levels key to long-term survival
Global companies such as Britain's largest retailer Tesco plc and Malaysian gaming group Genting Bhd say high cash levels kept them resilient in economic downturns.

BUSINESS TIMES, Singapore

Front page

Top-end home sales gently pick up pace
High-end residential transactions continue to stream in steadily, in both the primary and secondary markets. Two units were sold recently at Nassim Park Residences by its developer at above $3,000 per square foot (psf), one of them at $3,813 psf.

Japan's August snap poll could seal LDP's fate
A GENERAL election to the Lower House of Japan's parliament will be held on Aug 30, Prime Minister Taro Aso announced yesterday in the immediate aftermath of his party's stunning loss to the main opposition Democratic Party of Japan (DPJ) in the Tokyo Metropolitan Assembly election on Sunday.

Business & Industry

A whiff of growth after four quarters of contraction
After months in the red, economies across Asia are expected to report positive GDP numbers for the April-June quarter, starting with Singapore today.

The lesson that cost US$3t
The firestorm which hit the global financial industry, wiping out some US$3 trillion in market value and blowing away established players such as Lehman Brothers, has led to a period of introspection on the global financial business model.

BANGKOK POST, Thailand

Front page

Asean gets security
About 10,000 soldiers will be involved in protecting foreign ministers in this month's meeting of foreign ministers, trying to prevent another debacle.

No coercion, says Suthep
Deputy PM Suthep says it's just not true that he ganged up with the military top brass to put pressure on Foreign Minister Kasit Piromya to quit.

Business & Industry

EU nations, Turkey sign pipeline deal
Four EU countries and Turkey signed an accord Monday on building a major US-backed gas pipeline

Steel talks continue despite Rio arrest
Strained price negotiations between China's steel mills and iron ore producers are continuing, despite Rio Tinto's lead negotiator

JAKARTA POST, Indonesia

Front page

Singapore economy soars 20 percent in 2nd quarter
Singapore says its economy grew for the first time in a year, soaring 20 percent in the second quarter, as the city-state emerges from its worst-ever recession.

Business & industry
No new updates.

By: Staff Reporter
+44 20 8652 3214

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