In Tuesday's Asia papers

16 September 2008 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

 

Front page

 

No new updates

 

Business & Industry

 

No new updates

 

CHINA DAILY, China

 

Front page

 

Wall Street mauled by Lehman bankruptcy, AIG fears

Wall Street had its worst day since markets reopened after the September 11 attacks as fears about the US financial system's stability surged on Monday after Lehman Brothers filed for bankruptcy and insurer AIG struggled for survival.

 

Two held for Sanlu-brand baby milk food scam

Two brothers who sold about 3 tons of fresh milk to the Sanlu Group a day were arrested in Hebei province on Sunday because their product was adulterated.

 

Business & Industry

 

China cuts rates, lowers reserve ratio

China's central bank Monday cut the cost of bank loans, the first time since 2002, and lowered the proportion of money lenders must have as reserves, the first such move in nine years, to keep the economy from sliding further.

 

TAIPEI TIMES, Taiwan

 

Front page

 

Four dead, 17 injured in Sinlaku’s wake

Typhoon Sinlaku, which brought torrential rains to Taiwan from Friday, left four dead, seven missing and 17 injured, the Central Emergency Operation Center said. One man drowned and five were missing after Taichung County’s Houfeng Bridge collapsed on Sunday.

 

Militants escalate ‘oil war’ in Niger Delta, raid facility

Nigerian militants attacked a Royal Dutch Shell-operated oil installation yesterday in a third day of heavy fighting with security forces in the Niger Delta region.

 

Business & Industry

 

HSBC union protests forced job changes

HSBC employees voiced worries yesterday that the global financial services provider may compromise their labor rights as it works to close 11 outlets of the former Chinese Bank before the end of November.

 

French bakery chain opens flagship store along Renai circle

The century-old French bakery chain Paul opened its Taiwan flagship store at a spot on Renai Circle in Taipei on Saturday, despite the bad weather brought by Typhoon Sinlaku.

 

KOREA HERALD, South Korea

 

Front page

 

Kim said to have trouble using limbs

News reports indicated that North Korean leader Kim Jong-il's health may be worse than earlier believed following a stroke, adding to concerns about instability in the nuclear-armed country.

 

South Korea, U.S. preparing plans for N.K. emergency

Spiraling concerns over Kim Jong-il's health have rekindled an old controversy in Seoul over transforming an abstract war scenario against North Korea into a more concrete military plan of action.

 

Business & Industry

 

Redeployment is the key to fight high fuel costs for Cathay Pacific

Hong Kong's flagship carrier Cathay Pacific was badly hit by high oil prices and suffered a net loss of $85 million in the first half of the year.

 

Officials struggle to finalize reform plans for SMEs, energy companies

The merger between the key state financing bodies to support small businesses - Korea Credit Guarantee Fund and Kibo - has become a contentious issue in the final stage of the public reform plan, government sources said yesterday.

 

NEW STRAITS TIMES, Malaysia

 

Front page

 

Zaid told to continue with judicial reforms

Datuk Zaid Ibra-him tendered his resignation as minister in the Prime Minister's Department yesterday.

 

Collapses won't directly affect Malaysia

Analysts said Malaysia was unlikely to be impacted in a big way by the collapse of two venerable Wall Street institutions, Lehman Brothers and Merrill Lynch.

 

Business & Industry

 

Jakarta rejects Maybank's appeal

Now that the Indonesian regulators have shot down Maybank's appeal, it is almost certain the pact to buy BII will lapse by September 26 and Maybank risks losing its RM480 million deposit

 

Political, global tensions drag down stock mart

Most investors are taking money off the table, not willing to take a chance in the Malaysian stock market until they can see some form of solid catalyst or lead, says a research head

 

BUSINESS TIMES, Singapore

 

Front page

 

S Korea suspends some of Lehman's local operations

South Korea's top financial regulator said on Tuesday it had suspended some of Lehman Brothers' operations in the country after the US investment bank filed for bankruptcy protection.

 

Insurer AIG in the cross-hairs as Lehman bites the dust

Nervous investors waited for American International Group Inc (AIG) to announce a survival plan yesterday after two venerable Wall Street firms finally fell victim to a credit crisis that has plunged the financial system into turmoil.

 

Business & Industry

 

Real earnings shrink 4% in Q2: MOM

REAL earnings, which are adjusted for inflation, shrank by 4 per cent in the second quarter of 2008 compared with gains of 3.6 per cent in Q1 200 and 7.5 per cent in Q2 2007.

 

More firms plan layoffs, higher pay increases

MORE layoffs are on the cards, and wages are likely to jump and stay up in 2009 despite an expected economic slowdown.

 

BANGKOK POST, Thailand

 

Front page

 

'Unfit' for Asean 

"The Thais should hand the chair to either Singapore or Vietnam," said Cambodian Prime Minister Hun Sen - claiming the political uproar make Thailand unable to head the Asean group and hold the December summit.

 

PPP splits over PM

The prospect of an early election looms, after 12 hours of talks failed to heal a deep rift in the People Power party over who should be the next prime minister.

 

Business & Industry

 

No new updates

 

JAKARTA POST, Indonesia

 

Front page

 

SEC plans measures against short-selling

With Wall Street engulfed in crisis, the Securities and Exchange Commission is planning measures to rein in aggressive forms of short-selling that were blamed in part for the demise of Lehman Brothers and which some fear could be turned against other vulnerable companies.

 

Business & Industry

 

No new updates

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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