In Tuesday's Asia Papers

05 January 2010 01:00  [Source: ICIS news]


Front page

Tokyo's year-end shelter shut down
More than 800 homeless people on Monday left a temporary shelter set up by the Tokyo metropolitan government for the year-end and New Year holidays.

The shelter was established with the aim of helping them rebuild their lives, but most left with no immediate prospect of finding work. Government offices and companies only opened for business Monday after the break.

Business & Industry

Nikkei closes at 15-month high
The Year of the Tiger began with a roar Monday when vigorous trading at the Tokyo Stock Exchange pushed the key Nikkei stock index to its highest close since October 2008.

A stronger U.S. dollar and expectations of a turnaround at struggling Japan Airlines Corp. drove the Nikkei index of 225 selected issues on the TSE's First Section up to a finish of 10,654.79. That was an increase of 108.35 points, or 1.03 percent, over the closing level on Dec. 30 last year


Front page

Trains stopped in their tracks
The heaviest snowfall to hit northern China in nearly six decades continued to snarl traffic yesterday, stranding thousands of passengers on railways and at airports.

The unusually harsh winter weather also caused coal shortages, forcing some provinces to cut power supplies.

The heavy snow led to the delay of 13 passenger trains in Inner Mongolia, and forced the closure of all four airports in Shandong, as well as 30 state highways in northern China.

Business & Industry

Consumer confidence growing
With the majority believing the recession is behind them, Chinese consumer confidence is expected to continue to grow in the coming year, which sends a merry note to domestic marketers.

The news was revealed in a survey by global marketing research firm ACNielsen. It also found Chinese shopper confidence remains strongest in the East and due to increasing optimism in job and financial prospects, the nation's middle and western regions are getting increasingly upbeat as well.

The rebound in shopper confidence witnessed in the second quarter of 2009 looks set to continue.


Front Page

ECFA negotiations on schedule
Taipei and Beijing will launch official negotiations on an economic cooperation framework agreement (ECFA) in the middle of or late this month, hoping to seal a deal by May, Minister of Economic Affairs Shih Yen-shiang said yesterday.

Shih told the legislature’s Economics Committee that as ASEAN Plus One went into effect on Friday, he was “very worried” about the impact it would have on Taiwan’s economy.

Business & Industry

Manufacturing on the up: HSBC
The purchasing managers’ index (PMI) rose to 58.7 last month, slightly up from 58.4 in November, an indication that the domestic manufacturing sector is rebounding steadily from the economic slump, a survey released by HSBC showed yesterday.

The survey said, however, that while growth in the manufacturing sector was sustained for the 10th consecutive month, inflationary pressure continued to build, causing both input and output prices to rise at historically high rates.


Front Page

Lee proposes liaison offices with North 
President Lee Myung-bak yesterday proposed the establishment of liaison offices between the two Koreas to move forward cooperation and create "a new turning point" in bilateral ties.

In a New Year's address, Lee pledged efforts to bring about "substantial change in inter-Korean relations" as one of his top five policy goals for this year.

Business & Industry

Cell phone market set for turning point 
Korea's mobile makers, which so far emerged unscathed last year from the global economic downturn, are poised to see another promising year this year, experts say.

"Korea's major mobile phone players were lucky last year in that they were quick to roll out new models like the touch screen phones ahead of their global competitors, such as Motorola and Sony Erickson," Kwon Ki-duk, a research fellow at the technology and industry department of the Samsung Economic Research Institute, told The Korea Herald. "Their challenge this year is to keep up their innovation, not just with new models and appealing designs, but by developing more content for the mobile phone and application software, as well as improving the device's convenience."


Front Page

Appeal filed over 'Allah' ruling
The Home Ministry filed a notice of appeal at the Court of Appeal yesterday against a High Court order last Thursday allowing the Catholic weekly Herald to use the word “Allah”.

Senior federal counsel Datuk Kamaluddin Md Said said the ministry would file for a stay of execution of the order today.

The application for a stay will be heard at the High Court while the appeal will be heard at the Court of Appeal,” he said.

Business & Industry 

Naza set to distribute Koenigsegg supercars
The Naza Group of companies is said to have signed a deal with the Swedish-based high-performance carmaker a few weeks ago

The Naza Group of companies will soon offer the Koenigsegg supercars alongside the already wide array of fast cars it is already distributing.

The company is said to have signed a deal with the Swedish-based high-performance carmaker a few weeks ago. Sources said Naza will start selling the cars next month.


Sharp Q4 dip seen as little more than a blip
Economic momentum may have fallen off a little more than expected in the last quarter, but economists say the underlying recovery in Singapore remains on track.


Front Page

Civilians hurt in blast targeting soldiers
Two passers-by have been injured in a bomb blast targeting soldiers on patrol in Tak Bai district.

The explosive device was detonated on Monday on a road about 200 metres from Ban Bang Khunthong School as four soldiers on a routine guard patrol left on two motorcycles, police said.

The soldiers escaped the blast, but two people on a passing motorcycle were injured.

Business & Industry

Thai exports to score goals from World Cup
Thailand's exports, particularly textiles, garments, sports shoes and leather goods, are expected to gain this year thanks to the World Cup in South Africa.

"We strongly believe the World Cup will definitely give our exports a shot in the arm, especially garments and sportswear," said Wallop Witanakorn, secretary-general of the Thai Garment Manufacturers Association (TGMA).

By: Staff Reporter
+44 20 8652 3214

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