In Wednesday's Asia papers

14 October 2009 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

Front page

Haneda tipped to be hub airport
Transport minister Seiji Maehara announced his intention Tuesday to transform Tokyo's Haneda Airport into an international hub, signaling a major departure in government policy of using the airport at Narita as Japan's gateway for flights to and from overseas.
Maehara said in a news conference that doing so would enhance Japan's competitiveness in the Asian-Pacific region. He noted that South Korea's Incheon Airport had snatched much passenger and cargo traffic from Japan.

Pension data to be collated in 4 years
Welfare minister Akira Nagatsuma will accelerate the massive cleanup of the bungled pension system by having all 850 million accounts in paper ledgers checked against online data in four years from fiscal 2010, sources said.
The Social Insurance Agency has estimated there were errors made in about 5.6 million employee pension accounts alone when records were computerized and went online between 1979 and 1989.

CHINA DAILY, China

Front page

China, Russia take friendship forward
China and Russia agreed yesterday to enhance their 60-year friendship by cementing political trust and strategic partnership of cooperation while expanding collaboration in the trade, energy and military sectors.
China and Russia agreed yesterday to enhance their 60-year friendship by cementing political trust and strategic partnership of cooperation while expanding collaboration in the trade, energy and military sectors.

Business & Industry

Gazprom deal means natural gas set to flow across border
China and Russia signed a framework agreement yesterday that could see a steady flow of natural gas into energy-hungry China from its resource-rich neighbor.
The deal was among a slew of trade and military agreements signed during the visit of Russian Prime Minister Vladimir Putin.
The deal between Russia's state-run natural gas monopoly, Gazprom, and China National Petroleum Corp calls for the supply of about 70 billion cubic meters of gas a year, but a price had not been set and no contract signed, said Gazprom's Chief Executive Alexei Miller.

TAIPEI TIMES, Taiwan

Front page

Eight allies still to sign UN petitions
Several of Taiwan’s Latin American allies have yet to sign a petition in support of the country’s bid to gain “meaningful participation” in two UN specialized agencies, Ministry of Foreign Affairs (MOFA) officials said yesterday.
However, this does not reflect an unwillingness to support Taiwan’s cause or shaky diplomatic ties, said Victor Kuo, director-general of the ministry’s Department of Central and South American Affairs.

Business & Industry

Ministry dismisses report on stock tax
Government officials yesterday dismissed a report that it may reinstate the levy on stock trade earnings, saying the matter was still being studied and no decision would be made without a public consensus.
The Chinese-language Economic Daily carried a front-page story saying that the government was working toward taxing corporate stock transaction incomes.
The news caused the TAIEX to tumble yesterday morning, with the index shedding more than 100 points.

KOREA HERALD, South Korea

Front page

Korea required to increase productivity for growth
Korea needs to intensify efforts to enhance productivity for small and medium-sized firms and other service-sector companies in order to improve the nation's overall growth potential, the top economic policymaker said Wednesday and Yonhap News reported.
"Since 2000, the United States and Japan have seen their productivity improve but ours has fallen along with the potential growth rate," Finance Minister Yoon Jeung-hyun said at a meeting with other economy-related ministers.

Business & Industry

Samsung, LG cautious on LCD outlook
Top executives of Samsung Electronics and LG Display yesterday expressed caution about next year's outlook for the LCD market, citing growing competition and uncertain demand for TV sets.
Chang Won-kie, president of Samsung Electronics' LCD division, said that the LCD industry faces a better year, but price competition is a major concern, threatening to erode profits.

NEW STRAITS TIMES, Malaysia

MCA can resolve leadership crisis, says Liow
PETALING JAYA: MCA can resolve its leadership crisis without interference from anyone, said its vice-president, Datuk Seri Liow Tiong Lai.
The party could also solve its problems quickly through its constitution and the discipline of its members, he said.
“Prime Minister Datuk Seri Najib Razak also wants MCA to be strong and to find a solution quickly. So we promise to resolve the matter quickly to help Barisan Nasional.

Business & Industry

PolymerLatex opens RM250m plant in Johor
Germany's PolymerLatex GmbH, a maker of synthetic rubber, has opened its largest and first plant outside of Europe in Pasir Gudang, Johor.
The RM250 million plant is expected to produce 100,000 tonnes of nitrile latex a year and to have estimated annual turnover of US$110 million (RM373 million).

BUSINESS TIMES, Singapore

Front Page

Job done, but Jobs Credit given time to wind up
SINGAPORE--The Jobs Credit scheme has served its purpose and kept retrenchment numbers low, but the government will not abruptly yank it away from employers. Instead, the scheme has been extended for another six months though its payouts will be stepped down before being phased out.
Eventually, the scheme will give way to more targeted measures to support economic restructuring and boost productivity. These will be revealed in next year's Budget, Prime Minister Lee Hsien Loong said yesterday at the opening of a three-day NTUC Ordinary Delegates' Conference.

Jakarta plans land law overhaul
JAKARTA--Indonesia's next government plans to prioritise pushing through new laws on compulsory land acquisitions to help speed up desperately needed infrastructure development, a top government economic adviser said yesterday.
President Susilo Bambang Yudhoyono, who is due next week to unveil his Cabinet for his second term, was criticised in his first term over a failure to make fast enough progress building new bridges, roads and ports in South-east Asia's biggest economy.

BANGKOK POST, Thailand

Front Page

Abhisit calls for fair play for Thais in 3G auction
Prime Minister Abhisit Vejjajiva is insisting the telecoms regulator must ensure fair play for Thai bidders in any auction of 3G licences.
Consumers must not shoulder the burden of expensive services, he said.
The prime minister yesterday said the economics ministers would meet today to discuss the direction of Thailand's third-generation (3G) mobile phone services.

Business & Industry

Strong baht could hurt export targets
Thailand's exports are unlikely to achieve 10% growth next year if the government leaves the baht's appreciation unchecked, exporters warn.
"Ongoing baht strength will harm Thai shipments and weaken our competitiveness," said Pornsil Patchrintanakul, deputy secretary-general of the Board of Trade.
Mr Pornsil was one of a group of leading executives from more than 50 trade associations who yesterday met with Veerasak Jinarat, the vice-minister for Commerce.

By: Staff Reporter
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