Thursday, June 30, 2005

India focuses on farm output growth

by Brian Turner

Some experts in India are calling for more investment in irrigation and moisture retention technologies to help raise farming output by making up for differences in rainfall between weak and strong monsoon years.
This would go a long way to increasing the difference between growth in output in the farming sector and other sectors, [...]

Wednesday, June 29, 2005

Jetstar and Valueair consider merger

by Brian Turner

In airline news from Asia, Quantas Airways-supported Jetstar Asia and Singapore-based Valuair are holding discussion about a possible merger.
Valuair has been flying since May 2004 and has expanded traditional low-cost airline services by offering longer routes and serving basic meals.
Meanwhile, Singapore-based bargain air carrier Tiger Airways has announced just nine [...]

Friday, June 24, 2005

Hosoda and Takanaka voice concern on economic development

by Brian Turner

In Japan on Friday, chief cabinet secretary Hiroyuki Hosoda said that rising oil prices concerned him because they have a negative effect on global economic development.
In separate remarks, Economics minister Heizo Takanaka worried that while there are signs that the nation’s economy is showing signs of coming out of a “soft patch,” oil [...]

Deutsche Bank accused by South Korea of irregularities

by Brian Turner

Deutsche Bank, Germany’s largest bank, could be suspended from engaging in derivatives trading in South Korea if a government regulatory agency in that Asian nation has its way.
The bank stands accused of not providing adequate warnings to state-run companies on the risks inherent in derivatives contracts.
One contract in question was a [...]

Wednesday, June 22, 2005

Japanese exports fall for fifth month

by Brian Turner

Data released Wednesday indicates that Japan’s volume of exports have fallen four out of the past five months.
Preliminary figures from the Japanese Ministry of Finance show export volumes down 2.5 percent in May overall and that the volume of Japanese exports to Asia were down 4.7 percent, while they were up slightly, by [...]

Tuesday, June 21, 2005

Hyundai signs with Guangzhou

by Brian Turner

South Korea’s Hyundai Motor on Tuesday signed a preliminary agreement with Guangzhou Motor Group of China to cooperate in a joint venture to manufacture commercial vehicles.
The $1.24 billion project is meant to satisfy what Hyundai called an “explosive” demand for commercial vehicles in China. In anticipation of an expanding infrastructure and the [...]

Friday, June 17, 2005

State Council to implement equities purchase plan

by Brian Turner

A senior Chinese official said Friday that China’s State Council will soon decide how to put into practice a plan for the government to purchase equities in order to restore confidence in the nation’s equities markets.
He said it was not a bail-out and pointed out that Hong Kong made a large profit selling [...]

Indian cabinet to allow foriegn printing

by Brian Turner

The Indian cabinet on Thursday decided to allow foreign newspapers to be printed in India, a decision that will likely be approved by parliament.
The ban on printing foreign publications there has been in force since 1955 when it was decreed by the cabinet of Jawaharlal Nehru.
According to India’s information minister said [...]

Thursday, June 16, 2005

Japan tries to promote parenting

by Brian Turner

The Japanese government is considering a plan that would cut work hours for public employees with young children.
It is an attempt to encourage Japanese couples to have more children, and the proposal comes at a time when the fertility rate of Japanese women has fallen dramatically.
New numbers show that the average fertility [...]

Bank of America to announce Chinese bank deal

by Brian Turner

Bank of America has agreed to buy a 9 percent stake in China Construction Bank. The $2.5 billion deal will be announced in Beijing on Friday.
In return for this largest foreign investment in the Chinese banking sector, BofA is expected to take one seat on CCB’s board.
It is expected that BofA [...]

EBay joins with Global Sources

by Brian Turner

EBay announced on Thursday that it is joining with Global Sources, a Singapore-based business-to-business media company that helps Asian companies reach potential customers worldwide, to offer Asian manufacturers easier access to eBay’s online auction site.
Global Sources claims to have 130,000 suppliers, over half of whom are in China, but it will not estimate [...]

Wednesday, June 15, 2005

Society of Japanese Aerospace discusses concorde replacement with France

by Brian Turner

In a deal concluded at the Paris Airshow, the French Aerospace Industries Association and the Society of Japanese Aerospace Companies will undertake a three-year joint project geared toward developing a commercially viable successor to the Concorde supersonic jet.
The Japanese and French governments and industry will contribute ¥100 each in the first year of [...]

Monday, June 13, 2005

Pakistan Telecommunications fracas continues

by Brian Turner

Anticipating lay-offs of as many as a third of the total workforce of 61,000, the union representing the workers of Pakistan Telecommunications (PTCL), the government monopoly, has set yet another strike deadline for next Saturday in anticipation of the privatization of the company and its takeover by new management.
In response to this threat, [...]

Friday, June 10, 2005

Survey shows drop of Japanese business expansion in China

by Brian Turner

The Japan External Trade Organization (Jetro) published a survey on Thursday that showed a drop in the number of Japanese companies planning to expand their operations in China.
In December, 86 percent of the 414 companies surveyed said they would be expanding their business interests in China; in a May survey, only 54.8 percent [...]

Thursday, June 9, 2005

JT markets more brand cigarettes

by Brian Turner

In the largest launch in its history, Japan Tobacco introduced 13 new brands, including peach, strawberry, and lemon-grass flavored cigarettes on Thursday, bringing to 31 the number of new brands the company has introduced in the past two years.
Japan is the third largest tobacco market in the world, trailing only China and the [...]

CAO chief executive arrested

by Brian Turner

The chief executive of state-owned jet fuel importer China Aviation Oil and four executives of CAO’s parent company, Beijing-based China Aviation Oil Holdings, were arrested by Singapore police on Wednesday.
The five men were charged with hiding losses from oil derivatives trading and with participating in insider trading that precipitated the largest market scandal [...]

Asia markets varied as poltics impacts equities

by Brian Turner

Equities markets in Shanghai and Seoul were up on Thursday, while Taipei, Manila, and Tokyo fell on the day.
The composite index in Shanghai rose 1.4 percent to 1,131.052, after advance of 8.4 percent on Wednesday; that was the largest 1-day advance in Taipei in 3 years.
The market in Seoul, meanwhile, was [...]

Wednesday, June 8, 2005

Japan considers restrictions on offshore incorporation

by Brian Turner

The European Business Community and the American Chamber of Commerce in Japan are consulting with Japan’s Ministry of Justice to stop implementation of proposed changes in Japan’s commercial code that would make companies that do a majority of their business in Japan but are incorporated elsewhere illegal.
The new regulations have already been passed [...]

Monday, June 6, 2005

Thailand economy contracts - growth figures revised

by Brian Turner

Figures released Monday by Thailand’s national planning agency showed that the Thai economy shrank by 0.6 percent in the first quarter of 2005 due to the effect of drought, December’s tsunami, and rising oil prices.
Overall growth of the economy fell to 3.3 percent compared to the same quarter last year. In light [...]

Friday, June 3, 2005

by Brian Turner

China Construction Bank (CCB), which is preparing for its initial public offering in Hong Kong later this year, is said to be ready to dismiss Citigroup as an advisor to its arrangements for its IPO.
Citigroup has been excluded from recent meetings held to plan CCB’s listing on the Hong Kong exchange. If [...]

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