In Tuesday's Asia papers

23 June 2009 02:00  [Source: ICIS news]

ASAHI SHIMBUN, Japan

Front page

FTC tells 'combini' to permit price cuts

The Fair Trade Commission on Monday instructed Seven-Eleven Japan Co. to stop using its dominant market position to prevent franchises from discounting perishable items.

Business & Industry

No new updates.

CHINA DAILY, China

Front page

Leakage of State secrets to be plugged

Government officials may soon need to think twice before plugging their flash-disks loaded with State secrets into unsecured computers.

FDI curbs in real estate may be eased

The government may relax rules on inward foreign direct investment (FDI) to prevent it from sliding further, sources from the Ministry of Commerce said yesterday.

Business & Industry

Green Dam live date 'unchanged'

China will not back away from its July 1 launch date for the controversial anti-pornography computer filter Green Dam Youth Escort, a Ministry of Industry and Information Technology (MIIT) source said.

China to tweak export tax rates soon

China will remove or reduce export taxes on a range of products - from grain and rice to metals and other materials - effective from July 1, the country's finance ministry said. This is aimed at preventing the trade situation from deteriorating further, analysts said.

TAIPEI TIMES, Taiwan

Front page

Chen daughter, son admit to perjury

Chen Hsing-yu and Chen Chih-chung, the daughter and son of former president Chen Shui-bian, yesterday admitted in court to giving false testimony about the family’s alleged money laundering

Unemployment reached new high in May

The nation’s unemployment hit a record high last month, after new college graduates began entering the job market but failed to find jobs, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

Business & Industry

AUO board approves Changlong plan

If given the green light by the government, the LCD panel maker will own a 51 percent stake in a joint venture to be called BVCH Optronics

Quanta’s MOU with PixArt to allow touch features

Quanta Computer Inc, the world’s biggest contract notebook computer maker, inked a memorandum of understanding with local chip designer PixArt Imaging Inc yesterday to use PixArt chips that will enable touch features on its new laptops and PCs running Microsoft Corp’s new Windows 7 system.

KOREA HERALD, South Korea

Front page

Lee's centrist agenda a shot at appeasement

President Lee Myung-bak yesterday indicated that he would refocus his agenda toward centrist pragmatism as he strived to address a simmering political conflict and growing public discontent.

50,000 won banknotes debut today

New 50,000 won banknotes, the largest denomination in Korea, go into circulation today amid both hopes and worries for the economy, as Korea makes an all-out effort to boost consumer spending while guarding against inflation.

Business & Industry

World Bank optimistic on Korean recovery

The World Bank said yesterday that the Korean economy will contract about 3 to 3.5 percent this year, but would make the quickest recovery among major economies. It forecasts Korea will achieve 2 percent growth in 2010 and a 4 to 5 percent expansion in 2011.

Banks refocusing on fund products

Korean banks are refocusing on the sale of fund products, which have been in the doldrums since last year's global market collapse.

NEW STRAITS TIMES, Malaysia

Front page

Nik Aziz makes about turn, attacks Umno

Pas spiritual adviser Datuk Nik Abdul Aziz Nik Mat returned to his old self on Sunday night, attacking Umno as an enemy the party could not compromise with.

Business & Industry

Oriental in RM200m hospital venture

The auto and plantation group will hold a controlling 51 per cent stake in the specialist hospital in Malacca

Bank Negara rejects EON Cap warrants plan

The rejection reflects the Malaysian central bank's unhappiness with Primus Pacific Partners which owns 20 per cent of EON Capital, say industry sources

BUSINESS TIMES, Singapore

Front page

Thai PM here to tap Singapore growth expertise

Visiting Thai Prime Minister Abhisit Vejjajiva yesterday called on Singapore to consider being a 'development partner' with his country by sharing its expertise in key areas to help the integration of Asean.

Starhill is latest Reit to take rights route

Starhill Global Reit, which owns stakes in Wisma Atria and Ngee Ann City in Singapore, yesterday said it will raise $337.3 million through a rights issue - making it the fifth real estate investment trust (Reit) this year to raise funds by issuing new units.

Business & Industry

Capital flows to developing nations shrink

The World Bank has raised concern about the shrinking amount of capital flowing into developing countries. After a peak of US$1.2 trillion in 2007, it expects capital flows this year to fall to US$363 billion.

Fed may not launch new efforts to aid economy: economists

With the recession easing, Federal Reserve policymakers are unlikely to launch any major new efforts to revive the economy when they meet this week.

BANGKOK POST, Thailand

Front page

Rail union threatens long strike

The State Railway of Thailand Workers Union is pledging to continue its nationwide work stoppage until the government drops what it alleges is a plan to privatise the state enterprise.

Bhumjaithai plans new tack in Si Sa Ket

The Bhumjaithai Party will change tactics for this Sunday's by-election in Si Sa Ket after being stunned by the unexpected poll defeat in Sakon Nakhon at the weekend.

Business & Industry

No ordinary home-improvement store

SCG Distribution has opened its 400- million-baht SCG Experience, a centre for creative living with a radically different feel than a conventional building materials store.

Developing countries' GDP to slow

The World Bank estimated economic growth in developing countries of 1.2 percent this year, and said that without China and India, output would shrink 1.6 percent.

JAKARTA POST, Indonesia

Front page

4.7-magnitude quake hit Bengkulu

An earthquake measuring 4.7 on the Richter scale hit Bengkulu, which is located on the western coast of Sumatra Island on dawn Tuesday. There was no damage or injury reported.

Sarkozy says burqas are 'not welcome' in France

President Nicolas Sarkozy has declared that the Islamic burqa is not welcome in France, branding the face-covering, body-length gown as a symbol of subservience that suppresses women's identities and turns them into "prisoners behind a screen."

Business & Industry

Indonesia's franchise industry burgeoning

While many industries are struggling to survive, franchises in Indonesia are surviving the test of times and have become a lucrative industry, generating close to Rp 50 trillion (US$4.96 billion) in sales annually.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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