A REMARKABLE first-hand account of the hours leading up to one of the most controversial episodes of the Falklands War has emerged from a Scottish police constable. Steve McIntosh was a 17-year-old Royal Navy submariner when he helped hunt down and torpedo the General Belgrano, an action that cost the lives of 300 Argentinian sailors and remains hotly debated 25 years later. McIntosh, now a community beat officer with Strathclyde Police, was in the control room of HMS Conqueror, the submarine...
Asian economic and corporate news summary
May 15, 2007 on 12:41 pm | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 0500 GMT:
JAPAN:
-Japan Jan core machinery orders up 3.9 pct from Dec, beats forecast
-Osaka bourse to decide independently on listing status of Nikko Cordial
-GE Consumer Finance to close 273 personal loan business branches
SOUTH KOREA:
-POSCO to supply steel sheet to DaimlerChrysler
HONG KONG:
-Hong Kong stops sale of Armenian bottled water brand after US ban
-Dragonair pilots protest over armed guards on China flights
-Zijin Mining 2006 net profit 1.70 bln yuan vs 703.64 mln
-Zijin Mining 2006 net up 142 pct on high commodity prices, output hike
-Zijin Mining seeks to raise 6.3 bln yuan via Shanghai listing
-Phoenix Satellite 2006 net profit 212.39 mln hkd vs 181.48 mln
-Agile Property to buy property project in Shanghai for 1.753 bln yuan
-Hang Fung Gold sells 472-kilo gold display carriage for 74.99 mln hkd
CHINA:
-China new tax law to be implemented from Jan 2008 if passed by parliament
-China to set up forex investment agency controlled by cabinet
-China hopes to implement fuel tax as soon as possible, says finance minister
-Central bank issues 101 bln yuan in 3-yr special bank bills
-China second-tier logistics hubs show potential - Jones Lang LaSalle
-China steel firms to be hit with export tax rebate adjustment soon - Shougang
-China steelmakers to see little impact from Indian iron ore price hike- Shougang
-Shougang seeks more overseas acquisitions - chairman
-Xinjiang Bayi Steel 2006 net profit 157.42 mln yuan vs 245.18 mln
-Sichuan Swellfun 2006 net profit 100.87 mln yuan vs 77.81 mln
-Linktone Q4 net profit falls sharply on revenue drop, marketing costs
-eLong Q4 net loss 1.8 mln yuan on forex losses
-COSCO to boost crude oil carrying capacity to 8 mln dwt by 2010
-China Yangtze Power to issue 1.5 bln yuan worth of 1-yr bills on March 14
-Shougang to shut down 4.0-mln-ton low-end mills by year-end
-Shanghai Auto Corp not planning list in HK or buy Chrysler - Xinhua
-Baotou Steel plans to issue up to 2 bln yuan short-term bonds
-Kelamayi field adds 78.32 mln tons of proven oil reserves in 2006
-CNPC seen regaining oil exploration rights to Iraq’s al-Ahdab field
-Hong Kong-listed China Oilfield Services gets contract with Philippine PNOC-EDC
-Chinese regulator approves plans for Caofeidian steel production center
-China appoints HSBC primary dealer for open market operations
TAIWAN:
-China Airlines Feb parent sales 9.24 bln twd vs 8.34 bln
-Tatung Feb parent sales 2.68 bln twd vs 2.25 bln
-Taiwan Cement Feb parent sales 1.87 bln twd vs 1.80 bln
-Yulon Motor Feb parent sales 1.729 bln twd vs 1.730 bln
-Taiwan Mobile Feb net profit 1.24 bln twd, unchanged from Jan
-Nanya sees Q1 sales down 16-18 pct vs Q4 on 30 pct pricing fall
-Fubon Financial 2006 net profit down 21 pct on consumer banking scare
-Cathay Life to buy real estate for up to 3.87 bln twd
-Shin Kong expects to establish Beijing life insurance JV this year
MALAYSIA:
-Kuwait Finance House hopes to cooperate with Utama, EPF in Malaysia’s RHB deal
-EPF says will not manage RHB’s operations after deal is completed
-Goldman Sachs raises stake in Malaysia’s AsiaEP; becomes major shareholder
PHILIPPINES:
-Philippine Jan merchandise exports 4.17 bln usd, up 27.3 pct year-on-year
-Philippines expects 45.8 bln peso budget deficit in Q1 - budget chief
-Trans-Asia signs farm-in deal with Switzerland’s Vitol for oil block
AUSTRALIA & NEW ZEALAND:
-Japan’s Sojitz Corp invests in Australia coal project
-Warehouse Group warns rate hike will hurt sales
-The Warehouse Group H1 net profit 60.9 mln nzd vs loss 7.9 mln
-Babcock & Brown staff sell 478.8 mln aud worth of shares
-Sino Gold prices offer at 42.50 hkd a share ahead of HK listing
-Denmark’s SvitzerWijsmuller extends offer for Australia’s Adsteam to Mar 23
-Zinifex lowers offer to buy Canada’s Wolfden
INDIA:
-One killed, 18 injured by bomb blast in India’s Assam state
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Online sales rise for 5th straight year: StatsCan report »Canadian companies reported online sales of almost $50 billion last year, a 40 per cent surge from the previous year, according to a Statistics Canada report released Friday. But while online sales grew for the fifth consecutive year, the 2006 Survey of Electronic Commerce and Technology found e-commerce was still mostly conducted between businesses and represents a small fraction of the overall economy. E-commerce accounted for slightly over one per cent of total retail sales in Canada....
- Apparent suicide pact as cartoonist, wife and pets found dead - Mrs Horne’s multiple sclerosis saw her confined to a wheelchair at 39 - Richard Horne was contributor to several Scottish newspapers Key quote “Mandy had been very poorly - she could not speak and could not walk. The family are devastated. I believe Mandy was very disabled and getting worse. She had moved to Shetland to be nearer her parents. It is terrible news and everyone’s thoughts are with their families.”...
Asian economic and corporate news summary
May 13, 2007 on 9:31 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 1000 GMT
JAPAN:
-Jan core CPI flat yr-on-yr, matching forecast
-Jan unemployment rate 4.0 pct, unchanged from Dec
-Jan household spending up 0.6 pct yr-on-yr, 1st rise in 13 mths
-Japan monetary base down 21.1 pct in Feb, down for 12th straight month
-Jan employee average pay down 1.4 pct, overtime pay down 0.7 pct yr-on-yr
-Japan denies reported offer of compromise with China on disputed gas fields
-Japanese academic blames stockmarket volatility on overheating in China, India
-Nomura Holdings sees yr-end dividend exceeding 32 yen
-Fast Retailing Feb same-store sales up 3.3 pct yr-on-yr
SOUTH KOREA:
-Feb CPI up 2.2 pct yr-on-yr; up 0.7 pct from Jan
-Jan service sector output up 4.6 pct yr-on-yr vs 5.4 pct rise in Dec
-SKorea exports slower in Feb on plant shutdowns for Lunar New Year
-SKorea to resume food aid to NKorea - official
-Hyundai Motor Feb car sales 191,231 units, down 5.9 pct yr-on-yr
-Kia Motors Feb car sales 103,373 units, down 10.7 pct yr-on-yr
-GM Daewoo Auto Feb car sales 62,671 units, up 29.5 pct yr-on-yr
-Renault Samsung Feb car sales 14,304 units, up 17.3 pct yr-on-yr
-Ssangyong Motor Feb car sales up 15.8 pct yr-on-yr at 10,948 units
-S-Oil 2006 net profit 758.6 bln won vs 654.9 bln
-SKorea Doosan Heavy wins 1.14 bln usd power plant deal in Dubai
-Samsung Elec begins DRAM mass production on 60 nm-class technology
HONG KONG:
-China Shipping Container to tie up with China rail transportation firm
-Pearl Oriental in 100 mln hkd oil exploration JV with CITIC unit
-Pacific Century Insurance rating on review for possible upgrade - Moody’s
-Great Wall Motor to set up 121.8 mln yuan JV with Tatarstan govt unit
-Golden Harvest completes 203 mln hkd sale of Malaysia stake
-Malaysia’s Samling prices Hong Kong IPO at 2.08 hkd, top end of range - source
-Hong Kong Health Check in talks to buy stake in medical group
-China Insurance unit Tai Ping Jan premium income down 18 pct yr-on-yr
CHINA:
-Feb manufacturing PMI 53.1 vs 55.1 in Jan - CFLP
-Forex regulator says to adjust 2007 short-term foreign debt management
-China strengthens futures risk controls
-Coal mine safety violators now liable for up to 7 yrs prison - state media
-China issues preferential taxes for coal gas industry - Xinhua
-Coal prices could rise on China’s demand, production cuts - Numis
-China opens first village banks for rural microlending program - Xinhua
-China studying new ways to improve insurance for farmers - state media
-China-Russia border trade reaches 7 bln usd in 2006, up 15 pct - state media
-China dismisses 9 officials involved in Shanghai pensions scandal
-Exim Bank issues 8 bln yuan in 2-yr debt
-Agriculture Development Bank of China to issue 10 bln yuan in debt
-China Shipping Group issues 2 bln yuan in short-term debt
-Poly Group issues 1.2 bln yuan in short-term debt
-Lenovo recalls 205,000 laptop batteries
-Shenhua Group 2006 coal output up 35.6 pct at 203 mln tons
-Datong Coal 2006 coal output up 9 pct at 61.75 mln tons
-KongZhong 2006 net profit up 11 pct at 24.7 mln usd on strong sales
-China Shipping Group signs strategic alliance agreement with Shenhua Group
-Ping An Insurance to be added to Shanghai bourse indices from March 15
-China’s job search site 51job 2006 net profit up 62 pct on margin growth
-ALONG Mobile 2006 net profit jumps to 3.3 mln usd on northwest expansion
-S&P Equity Research names 25 stock picks for Greater China
-Westinghouse signs deal with China for 4 AP1000 nuclear power plants
-Three Gorges targets 78.6 bln kwh in 2007, up 23 pct - state media
-hiSoft Technology acquires US IT outsourcing firm Envisage Solutions
-Excel Technology in CRM solutions tie up with CDC Software
-China regulator approves Bosai Minerals’ stake buy in Guyana’s Omai Bauxite
-Wal-Mart to take control of Trust-Mart’s China ops by 2010
-China Huadian Corp completes successful trial of new generating unit
-IFC to lend China’s Shandong Weigao 20 mln usd for medical device development
-Disney unaware of ESPN China licensing issues
-AutoMart completes merger with Deep Field Tech
-Wuhan Boiler says Alstom’s new plan to buy in little changed
-CSG Holding to issue 800 mln yuan in one-yr bills
TAIWAN:
-Jan leading index up 0.6 pct from Dec
-Jan export orders 25.93 bln usd vs 26.39 bln in Dec
-Jan industrial output down 0.58 pct from Dec, up 4.76 pct yr-on-yr
-Jan bad check ratio by value 0.72 pct vs 0.57 pct in Dec
-Taiwan says ready to assist EU probe into licensing system for recordable CDs
-Taiwan central bank to auction 364-day certificates of deposit March 9
-Taiwan High Speed Rail launches ops on last section
-Taiwan govt-related entities to raise stake in China Devt Financial
-Chunghwa Telecom to outline capital restructuring moves by mid-April
-Powerchip Feb parent sales 9.22 bln twd vs 4.93 bln
-Powerchip buys 8.29 mln ASE Inc shares at avg price 36.71 twd/shr
-Compal Electronics 2006 parent net profit 8.75 bln twd vs 8.42 bln
-China Steel Feb parent pretax profit 5.03 bln twd,up 189 pct on yr
-VIA Technologies Feb parent sales 1.08 bln twd vs 2.32 bln
-Taishin Intl Bank Feb pretax profit 479 mln twd vs 266 mln in Jan
SINGAPORE:
-Darco wins 15 new industrial deals worth 17.4 mln sgd
MALAYSIA:
-Petronas forms marketing alliance with Italy’s Selenia
-Muhibbah targets 2-3 bln rgt in oil and gas contracts
-AMMB, ANZ formalise deals on proposed equity participation
-Peremba sells 75 mln PECD shares, no longer major shareholder
-Goh Tai He disposes 11.42 mln Goh Ban Huat shares
-Eon Capital grants more time to RHB Capital to accept takeover offer
-DRB-Hicom wins Bank Negara nod to start talks on Eon Capital sale
INDONESIA:
-Bank Indonesia end-Feb forex reserves 45.69 bln usd vs 43.27 bln end-Jan
-Govt selects 16 agents to sell retail bonds
-Timah says 144 tons of tin impounded, denies it was smuggled
-Energi sells 50 pct stake in Kangean gas block to Mitsubishi, Japex
-Jasa Marga expects 2-3 trln rupiah proceeds from IPO
PHILIPPINES:
-Philippine central bank approves govt’s repayment of remaining Brady bonds
-Geograce Resources eyes listing in London, Australia
-Universal Robina Corp to acquire Nestle Waters Philippines
AUSTRALIA & NEW ZEALAND:
-Australia Jan retail sales rise 0.9 pct vs Dec
-AGL raises offer for 27.5 pct of Queensland Gas to 1.60 aud a share
-Queensland Gas supports AGL deal ahead of TCW takeover bid
-Australian regulator revokes competition notice issued to Telstra
-Macquarie Bank now sees H2 net profit topping H1
-Australia ANZ says trading in line with guidance for first 4 mths of fiscal 2007
-Summit Resources rejects Paladin’s 1.011 bln aud takeover offer
-Germany’s Bosch group sets deadline on bid for Australia’s Pacifica
-Centro announces 174 mln usd placement to fund REIT acquisition
xiaojing.jiang@xinhuafinance.com
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Slump in language and science courses »THE number of Scots universities offering degree courses in languages, mathematics and science has slumped during the past ten years, according to new research. A study by the University and College Union (UCU) found that French language courses have dropped by 10 per cent and German degrees have decreased by 20 per cent between 1998 and 2007. Over the same period, courses in science and maths fell by 10.8 per cent. The findings prompted warnings from union leaders and opposition politicians...
LONDON (Thomson Financial) - Here are the top stories on Thomson Financial News Prudential Q1 sales beat expectations, but UK down 23 pct LONDON (Thomson Financial) - Life insurer Prudential PLC reported better than expected first quarter sales, with a strong performance in Asia offsetting a continued downturn at its UK division. Prudential, the UK’s second-biggest insurer, said total sales for the three months to March 31 2007 came in at 640 mln stg on an annual premium equivalent...
Asian economic and corporate news summary
May 7, 2007 on 12:52 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 1000 GMT:
JAPAN:
-Jan core machinery orders up 3.9 pct from Dec, beats forecast
-Japan, Australia to begin free trade talks in April
-Aeon, Daiei form alliance to create country’s largest retail group
-Osaka bourse to decide independently on listing status of Nikko Cordial
-GE Consumer Finance to close 273 personal loan business branches
SOUTH KOREA:
-Sumitomo Mitsui, SKorea’s Kookmin Bank to tie up in corporate banking
-POSCO to supply steel sheet to DaimlerChrysler
HONG KONG:
-Hutchison Telecom shareholders approve India unit sale
-Panva Gas rating raised to ‘BB+’ from ‘BB’ - S&P
-Dragonair pilots protest over armed guards on China flights
-Zijin Mining 2006 net profit 1.70 bln yuan vs 703.64 mln
-Zijin Mining 2006 net up 142 pct on high commodity prices, output hike
-Zijin Mining seeks to raise 6.3 bln yuan via Shanghai listing
-Orient Overseas Intl 2006 net profit 580.60 mln usd vs 650.85 mln
-Phoenix Satellite 2006 net profit 212.39 mln hkd vs 181.48 mln
-Hang Fung Gold sells 472-kilo gold display carriage for 74.99 mln hkd
-Agile Property to buy property project in Shanghai for 1.753 bln yuan
-Road King to lend 600 mln hkd to unit Sunco A Group
-Govt stops sale of Armenian bottled water brand after US ban
CHINA:
-China new tax law to be implemented from Jan 2008 if passed by parliament
-China to set up forex investment agency controlled by cabinet
-China hopes to implement fuel tax as soon as possible, says finance minister
-China may hike interest rates in Q2 - Standard Chartered
-China becomes the world’s biggest integrated circuit market - Xinhua
-Central bank issues 101 bln yuan in 3-yr special bank bills
-China second-tier logistics hubs show potential - Jones Lang LaSalle
-China Feb passenger vehicle sales up 20.55 pct at 417,700 units - Xinhua
-China steel firms to be hit with export tax rebate adjustment soon - Shougang
-China steelmakers to see little impact from Indian iron ore price hike- Shougang
-Shougang seeks more overseas acquisitions - chairman
-Goodrich to supply wheels, brakes for Shanghai Airline Dreamliners
-Xinjiang Bayi Steel 2006 net profit 157.42 mln yuan vs 245.18 mln
-Sichuan Swellfun 2006 net profit 100.87 mln yuan vs 77.81 mln
-Linktone Q4 net profit falls sharply on revenue drop, marketing costs
-eLong Q4 net loss 1.8 mln yuan on forex losses
-COSCO to boost crude oil carrying capacity to 8 mln dwt by 2010
-Agricultural Development Bank sells 10 bln yuan worth of bonds
-PetroChina sees investment in Xinjiang surpassing 30 bln yuan
-Yum! Brands China says food additive does no harm to human health
-Shanghai World Expo Land Holding issues 4 bln yuan worth of bonds
-China Yangtze Power to issue 1.5 bln yuan worth of 1-yr bills on March 14
-Shougang to shut down 4.0-mln-ton low-end mills by year-end
-Shanghai Auto Corp not planning list in HK or buy Chrysler - Xinhua
-Baotou Steel plans to issue up to 2 bln yuan short-term bonds
-Baosteel eyes auto steel sector expansion in 2007 - chairman
-Kelamayi field adds 78.32 mln tons of proven oil reserves in 2006
-CNPC seen regaining oil exploration rights to Iraq’s al-Ahdab field
-China Oilfield Services gets contract from Philippine PNOC-EDC
-Chinese regulator approves plans for Caofeidian steel production center
-China appoints HSBC primary dealer for open market operations
TAIWAN:
-Nanya sees Q1 sales down 16-18 pct vs Q4 on 30 pct drop in avg selling price
-Hon Hai Feb parent sales 71.59 bln twd vs 50.58 bln
-TSMC Feb consolidated sales 20.95 bln twd vs 21.39 bln in Jan
-China Airlines Feb parent sales 9.24 bln twd vs 8.34 bln
-Innolux Feb parent sales 8.27 bln twd vs 7.46 bln
-Yang Ming Marine Feb parent sales 8.21 bln twd vs 6.62 bln
-ASE Inc Feb consolidated sales 6.52 bln twd vs 7.85 bln
-Cathay Financial Jan-Feb net profit 5.68 bln twd, up 17.27 pct yr-on-yr
-Nanya Technology Feb parent sales 5.57 bln twd vs 4.84 bln
-Nanya may begin construction of new 12-inch-wafer plant in H2
-Inotera Feb parent sales 3.90 bln twd vs 2.89 bln
-Tatung Feb parent sales 2.68 bln twd vs 2.25 bln
-Taiwan Cement Feb parent sales 1.87 bln twd vs 1.80 bln
-Yulon Motor Feb parent sales 1.729 bln twd vs 1.730 bln
-China Motor Feb parent sales 1.67 bln twd vs 2.65 bln
-Mega Financial Feb net profit 1.34 bln twd vs 1.07 bln in Jan
-Taiwan Mobile Feb net profit 1.24 bln twd, unchanged from Jan
-Far EasTone Feb pretax profit 1.09 bln twd vs 1.23 bln in Jan
-First Financial Feb net profit 872 mln twd vs 991 mln in Jan
-Taiwan Glass Feb parent sales 866.79 mln twd vs 942.97 mln
-China Devt Financial Feb net profit 606 mln twd vs 429 mln
-Fubon Financial Feb net profit 447 mln twd vs 792 mln in Jan
-China Steel to raise Q2 domestic basic prices by avg 3.24 pct
-Fubon Financial 2006 net profit down 21 pct on consumer banking scare
-Cathay Life to buy real estate for up to 3.87 bln twd
-Shin Kong expects to establish Beijing life insurance JV this year
-Uni-President seeks stakes in Nissin Hualong, Hebei Hualong Group Paper
-Uni-President sets AGM for June 28
MALAYSIA:
-Malaysian insurance sector relative strength seen positive - Fitch
-EPF says to cut stake in RHB Capital to 40 pct from 75 pct
-EPF sees 5-6 pct return on investment from RHB in 5 yrs
-EPF says to maintain RHB Capital’s listing status
-EPF says more than one strategic partner needed
-EPF says will buy out Khazanah’s stake in RHB Bank
-EPF says will not manage RHB’s operations after deal is completed
-Kuwait Finance House hopes to cooperate with Utama, EPF in RHB deal
-Thai AirAsia management in talks to buy Asia Aviation’s 50 pct stake in airline
-Perodua Jan-Feb car sales up 4 pct yr-on-yr
-Goldman Sachs raises stake in AsiaEP; becomes major shareholder
INDONESIA:
-PGN to start Sumatra-Java gas pipeline operations March 11
-Excelcomindo assigned national long-term ‘AA(idn)’ rating - Fitch
-Pertamina shuts refinery due to lack of crude
-Bumi surveying for iron ore at Mauritanian mining area
PHILIPPINES:
-Jan merchandise exports 4.17 bln usd, up 27.3 pct year-on-year
-Philippines 2006 net foreign direct investment up 27 pct to 2.35 bln usd
-Philippines expects 45.8 bln peso budget deficit in Q1 - budget chief
-World Bank urges Philippine govt to reform finances further
-ICTSI to pay 389.1 mln yuan for 60 pct stake in Chinese port operator
-Trans-Asia signs farm-in deal with Switzerland’s Vitol for oil block
AUSTRALIA & NEW ZEALAND:
-Sojitz Corp invests in Australia coal project
-Warehouse Group warns rate hike will hurt sales
-The Warehouse Group H1 net profit 60.9 mln nzd vs loss 7.9 mln
-Babcock & Brown staff sell 478.8 mln aud worth of shares
-Sino Gold prices offer at 42.50 hkd a share ahead of HK listing
-Denmark’s SvitzerWijsmuller extends offer for Australia’s Adsteam to Mar 23
-Zinifex lowers offer to buy Canada’s Wolfden
THAILAND:
-Thai capital controls will stay - finance minister
-Thai corn exporters protest against 28 pct EU anti-dumping duties
INDIA:
-WPI rises to 6.10 pct for wk ended Feb 24 from 6.05 pct wk earlier
-One killed, 18 injured by bomb blast in Assam state
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Voters 'desert main parties' »Both Britain’s big political parties are under heavy pressure ahead of next week’s elections across England, Wales and Scotland, a Guardian/ICM poll published today shows. One in three voters have turned their backs on Labour and the Conservatives and now back the Lib Dems or a smaller party such as the Greens or the SNP. Support for Labour is down one point on last month, at 30%. The Conservatives have dropped four points to 37%. The Liberal Democrats, campaigning hard to defend...
JetBlue didn’t hesitate to fall on its sword after winter storms recently left passengers stranded aboard grounded aircraft for as long as nine hours and resulted in more than 1,000 flights being canceled. Last week, in full-page ads that ran in newspapers nationwide, the company impaled itself once again. “We are sorry and embarrassed,” the ads declared. “But most of all, we are deeply sorry.” Experts in crisis communications say JetBlue is setting a new...
Asian economic and corporate news summary
April 27, 2007 on 8:12 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 1000 GMT
JAPAN:
-Quake hits southwestern Japan
-Nissan yr to March net profit 460.80 bln yen vs 518.05 bln
-Nissan Motor reports first drop in annual profits under Ghosn
-Nissan Motor to spend up to 25 bln yen to buy back own shares
-Nissan Motor delays medium-term goals after earnings fall
-JFE Holdings yr to March net profit 299.68 bln yen vs 325.99 bln
-JFE FY opg profit dips 2.6 pct on higher cost, but sees record earnings
-Denso’s FY net profit 205.2 bln yen vs 169.6 bln yen
-Denso FY net profit hits record on brisk car sales by parent Toyota
-Nomura Holdings year to March net profit 175.83 bln yen vs 304.33 bln
-Nintendo FY net profit 174.29 bln yen vs 98.38 bln yen
-Nintendo’s FY operating profit more than doubles on portable game sales
-Komatsu year to March 2007 net profit 164.64 bln yen vs 114.29 bln
-Toshiba’s FY net profit 137.43 bln yen vs 78.19 bln yen
-Toshiba FY net profit rises 76 pct to record high on brisk sales of PCs, chips
-Kobe Steel yr to March net profit 109.7 bln yen vs 84.5 bln
-Kyocera FY net profit 106.5 bln yen vs 69.7 bln yen
-Kyocera FY operating profit jumps 35.5 pct on demand for components
-Fujitsu yr to March net profit 102.4 bln yen vs 68.5 bln
-Fujitsu’s FY operating profit flat because of competition, lower HDD prices
-Nippon Oil year to March net profit 70.22 bln yen vs 166.51 bln
-Shiseido yr to March net profit 25.3 bln yen vs 14.4 bln
-Shiseido FY net up 75 pct on China sales, weak yen; sees further growth
-Yamaha Motor Q1 net profit 25.2 bln yen vs 28.1 bln
-Yamaha Motor Q1 opg profit hits record on brisk sales to Asia
-Mitsubishi Motors yr to March net profit 8.7 bln yen vs loss 92.2 bln
-Mitsubishi Motors returns to net profit on cost cuts, yen weakness
-Seiko Epson year to March net loss 7.09 bln yen vs loss 17.92 bln
-Victor Co of Japan year to March net loss 7.89 bln yen vs loss 30.61 bln
-Sony still intends to list financial unit, but has yet to decide how
-Sony ratings unaffected by plan to list financial unit - S&P
-Singapore govt orders 700,000 road-pricing devices from Mitsubishi Heavy
-Resona to issue 350 bln yen worth of preferred shares to Merrill Lynch
SOUTH KOREA:
-Current account swings to deficit in March on overseas dividends
-Hynix Semiconductor Q1 net profit 429 bln won vs 294 bln
-Hynix Semiconductor Q1 opg profit up 46 pct yr-on-yr on increased sales
-Hynix to start mass production at new wafer line in Q3 2008
-SK Telecom Q1 net profit 396.3 bln won vs 337.2 bln
-SK Telecom Q1 opg profit dips on rising costs; beats mkt consensus
-SK Telecom targets 50.5 pct market share by year-end
-SK Corp Q1 net profit 348.5 bln won vs 607.2 bln
-SK Corp Q1 opg profit up more than 40 pct on petrochem, lubricant ops
-POSCO to invest 282.8 bln won for capacity expansion
-POSCO to sell treasury shares to Hyundai Mipo
-Daewoo Engineering Q1 net profit 121.8 bln won vs 132.2 bln
-Daewoo Engineering Q1 opg profit up 7.2 pct on firm overseas revenue
-Daewoo Shipbuilding Q1 net profit 51.9 bln won vs loss 45 bln
-Korea Zinc Q1 net profit 116.4 bln won vs 64.2 bln
-CJ Corp Q1 net profit 26.4 bln won vs 79.3 bln
-Asiana Airlines Q1 net profit 12.1 bln won vs 37 bln
-Asiana Airlines Q1 opg profit more than doubles on intl flight demand
HONG KONG:
-March exports up 6.9 pct yr-on-yr by value vs up 11.6 pct in Feb
-China Treasure to change name to Opes Asia Development
-China CITIC Bank says Hong Kong IPO retail tranche 229 times oversubscribed
-PCCW declines comment on report chairman seeking fresh stake sale bid
-China Unicom Q1 net profit 1.96 bln yuan vs 1.39 bln
-China Unicom Q1 net profit up 41 pct on sales growth
-Beijing Capital Intl Airport 2006 net profit 1.09 bln yuan vs 908.51
-Capital Estate H1 to Jan net profit 206.85 mln hkd vs loss 1.58 mln
-Ajisen (China) 2006 net profit 113.37 mln yuan vs 48.95 mln
-Lijun Intl 2006 net profit 84.58 mln yuan vs 93.31 mln
-Luoyang Glass 2006 net profit 12.99 mln yuan vs 9.66 mln
-China Shipping Container Lines Q1 revenue up 23.9 pct on yr
-Heng Tai to take 80 pct stake in fresh produce services jv in Dalian
-Weichai Power to also list shares on Shenzhen exchange
-Stone Group to take 36.12 pct stake in China Cable Media
-Xteam Software to raise 142.87 mln hkd from share placement
-Govt to auction another Tuen Mun site on May 29
-COFCO Intl shares to trade under new name, China Foods, from Monday
CHINA:
-Economy ‘growing too fast,’ must be kept sustainable - economic planner
-China targets service sector share of GDP of 42.9 pct by end-2010 - state planner
-Wen reiterates that energy saving tops govt agenda
-Govt to cut export tax rebates on items with high energy input - state planner
-EXIM Bank in talks with central govt about capital injection - official
-Govt to order foreign stock markets’ local reps to report on Chinese cos
-China real estate regulations need more consistency, clarity - US Chamber
-2007 land for construction quota capped at last year’s level - ministry
-China needs to update information technology strategy - World Bank
-Shanghai Stock Exchange raises upper bid limit to 900 pct from 200 pct
-WTO cases against China do not point to trade war - US Treasury attache
-China CITIC Bank raises 13.06 bln yuan from Shanghai IPO, 27.62 bln hkd from HK
-Beiqi Foton Motor targets 2007 sales of 20.1 bln yuan
-HK-listed CNOOC Q1 revenue down 10.9 pct at 14.85 bln yuan
-CNOOC, Texas American Resources sign production-sharing contract
-Baosteel Q1 net profit profit 3.68 bln yuan vs 1.43 bln
-Baosteel Q1 net profit up 156 pct; sees H1 net rising over 50 pct yr-on-yr
-Shanxi Taigang Stainless Q1 net profit 1.23 bln yuan vs 142.54 mln
-Hong Yuan Securities Q1 net profit 309.66 mln yuan vs 7.4 mln
-Hong Yuan Securities Q1 net profit rises sharply amid brisk stock market
-Pingdingshan Coal Q1 net profit 230.85 mln yuan
-Shenzhen Energy Q1 net profit 202.15 mln yuan vs 135.67 mln
-Panzhihua New Steel Q1 net profit 193.7 mln yuan vs 202.32 mln
-Shenzhen Chiwan Wharf Q1 net profit 142.39 mln yuan vs 151.38 mln
-Jiangling Motors Q1 net profit 139.73 mln yuan vs 224.19 mln
-Jiangling Motors Q1 net down 38 pct on falling prices, slower sales
-Nanjing Panda 2006 net profit 89.15 mln yuan vs 89.7 mln - CAS
-Nanjing Panda Q1 net profit 15.28 mln yuan vs 12.5 mln
-Konka Group Q1 net profit 25.49 mln yuan vs 25.05 mln
-Guangdong Expressway Q1 net profit 140.72 mln yuan vs 108.25 mln
-Hisense Electric Q1 net profit profit 50.1 mln yuan vs 40.9 mln
-Lucky Film Q1 net profit 3.58 mln yuan vs 3.10 mln
-Maanshan Iron & Steel Q1 net profit up 79.53 pct on higher prices
-China Shipping Container Q1 revenue up 23.9 pct
-China International Marine Containers Q1 net profit up 11.8 pct on strong sales
-AsiaInfo Q1 net income up sharply on telecom software revenue
-Generali China Life Insurance raises capital to 1.9 bln yuan from 1.3 bln
-Chalco to debut in Shanghai on April 30, two units to be delisted
-The9 SUN game hits 400,000 concurrent users in beta testing
-DVN Holdings secures 600 mln yuan digital TV project in Changzhou, China
-US-based GeoEye in geospatial service tie-up with China’s East-Dawn
-Achievo in vendor service agreement with CA for China clients
-Amoi Electronics, Microsoft tie up for 3G Smartphone development
-Winner Medical sets up jv in Jordan
-Ford’s China engine JV starts production
-Terra Nostra jv in 41 mln usd stainless steel supply deal in China
-METASwarm to open China sales, technical support office in Beijing
TAIWAN:
-Premier wants to see hike in minimum wage take effect July 1
-Govt says report it is mulling Singapore model on forex reserves management not true
-Corning to invest 129 mln usd in large-size capability for its Taiwan plant
-TSMC Q1 unaudited consolidated net profit 18.84 bln twd vs 27.91 bln Q4
-TSMC Q1 net profit falls as clients continue inventory clearance
-TSMC leaves intact 2007 capex at 2.6-2.8 bln usd
-TSMC sees Q2 consolidated sales 73-75 bln twd vs 64.90 bln in Q1
-TSMC sees sustainable recovery over remainder of the year
-Quanta Computer 2006 parent net profit 12.91 bln twd vs 10.90 bln
-Quanta Computer Q1 parent net profit 3.40 bln twd vs 4.19 bln in Q4
-Taiwan Mobile Q1 parent net profit 3.81 bln twd vs 3.10 bln
-Chi Mei Optoelectronics Q1 parent net loss 1.104 bln twd vs profit 436 mln
-Chi Mei Optoelectronics sees Q2 shipments up 15-20 pct vs Q1
-China Steel, Brazil’s CVRD sign 10-year iron ore procurement contract
-Yulon Nissan Q1 parent net profit 478.87 mln twd vs 1.05 bln
-Sampo 2006 parent net loss 4.10 bln twd vs loss 5.46 bln
-BenQ plans private placement of up to 700 mln new shares
-Tatung gains 293.25 mln twd on sale of Supermicro shares for 369.38 mln
SINGAPORE:
-March manufacturing output down 2.9 pct yr-on-yr; within forecast
-Govt to call for 730 mln sgd of new infocomm tenders in this FY
-Keppel Corp Q1 net profit 252 mln sgd vs 170 mln
-Keppel Corp Q1 net profit up 48 pct yr-on-yr; upbeat outlook
-STATS ChipPAC Q1 net profit 17.05 mln usd vs 12.02 mln
-STATS ChipPAC Q1 net profit rises 42 pct yr-on-yr; within target
-Ascott Group Q1 net profit 9.70 mln sgd vs 42.32 mln
-Ascott Group launches 300-500 mln usd China fund
-CapitaLand signs MOU to take stake in Russian property developer
-City Developments, Capitaland to launch JV condo at 680 sgd psf
-China Yuanbang launches Singapore IPO of 150 mln shares at 0.40 sgd each
-MDR in advanced talks with potential investor
-JEL Corp near to making strategic investment
INDONESIA:
-Retail space seen up 36 pct over the next two years - Procon Indah
-Bank Danamon Q1 net profit 482 bln rupiah vs 251 bln
-Fajar Surya Wisesa Q1 net profit 2.46 bln rupiah vs 66.70 bln
-Bank Lippo sees 2007 loan growth above 20 pct
-Excelcomindo shareholders approve 2006 dividend of 67 bln rupiah
PHILIPPINES:
-Central bank sees forex reserves at 25.5-26.0 bln usd by year-end
-Central bank sees April inflation at 2.0-2.7 pct
-Govt to resume auction of one-year T-bills next week
-Aboitiz Equity says power unit’s IPO to raise 8.4 bln pesos
-National Reinsurance to list 2.29 bln shares tomorrow
-UnionBank prices stock rights offer at 59.00 pesos/share
-Napocor eyes 500 mln usd in loans this year
THAILAND:
-Siam Cement Q1 net profit 8.21 bln baht, down 14 pct yr-on-yr
AUSTRALIA & NEW ZEALAND:
-NZealand central bank raises official cash rate 25 bps to quell strong demand
-Australia’s Westpac Feb leading index up 5.7 pct yr-on-yr vs 4.9 pct rise in Jan
-ANZ Banking Group H1 net profit 2.102 bln aud vs 1.811 bln
-ANZ Banking Group H1 net profit rises 16 pct on strong lending
-ANZ eyes Asia for future growth after record H1 profit
-Qantas Airways acquires 30 pct stake in Vietnam’s Pacific Airlines
-Toll says new infrastructure company Asciano to seek offshore growth
-Zinifex 9 mths to March output down 8 pct yr-on-yr
-AXA Asia Pacific funds under management exceed 100 bln aud
-Tabcorp says has not been approached for potential takeover
-QBE Insurance issues 550 mln usd in perpetual preferred shares
-Babcock & Brown Wind Partners to acquire wind farms in Europe
-Summit maintains support for Paladin’s offer despite Areva stake
INDIA:
-Decision on Vodafone deal likely tomorrow - official
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Bin Laden's No 2 mocks Iraq plan in latest video »Al-Qaedas second-in-command has poured scorn on PresidentBushs plan to send thousands more troops to Iraq, boasting that even the whole US army would not be a match for insurgents in Iraq. In an online video address, Ayman al-Zawahiri, who carries a $25m bounty on head, is shown mocking Mr Bushs fresh strategy to send 21,000 extra troops to quell sectarian violence, challenging him to send “the entire army” into the conflict-torn nation so that they could be destroyed...
LONDON (AFX) - Here are the top stories on AFX News ECB’s Stark continues to see price risks in euro area FRANKFURT (AFX) - European Central Bank board member Juergen Stark told Die Welt although Euro zone inflation will probably slow this year, medium-term price developments remain a concern. “There is a good chance that the annual average rate of inflation this year will be below that seen in previous years,” Stark told the newspaper. Munich Re posts record FY profit...
Asian economic and corporate news summary
April 25, 2007 on 12:52 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 0535 GMT
JAPAN:
-Jan core CPI flat yr-on-yr, matching forecast
-Jan unemployment rate 4.0 pct, unchanged from Dec
-Jan household spending up 0.6 pct yr-on-yr, 1st rise in 13 mths
-Japan monetary base down 21.1 pct in Feb, down for 12th straight month
-Jan employee average pay down 1.4 pct, overtime pay down 0.7 pct yr-on-yr
-Japan denies reported offer of compromise with China on disputed gas fields
SOUTH KOREA:
-Feb CPI up 2.2 pct yr-on-yr
-Jan service sector output up 4.6 pct yr-on-yr vs 5.4 pct in Dec
-SKorea exports slower in Feb on plant shutdowns for Lunar New Year
-Renault Samsung Feb car sales 14,304 units, up 17.3 pct yr-on-yr
-Ssangyong Motor Feb car sales up 15.8 pct yr-on-yr at 10,948 units
-SKorea Doosan Heavy wins 1.14 bln usd power plant deal in Dubai
-Samsung Elec begins DRAM mass production on 60 nm-class technology
HONG KONG:
-China Insurance unit Tai Ping Jan premium income down 18 pct yr-on-yr
-Pacific Century Insurance rating on review for possible upgrade - Moody’s
-China Shipping Container to tie up with China rail transportation firm
-Great Wall Motor to set up 121.8 mln yuan jv with Tatarstan govt unit
-Golden Harvest completes 203 mln hkd sale of Malaysia stake
-Pearl Oriental in 100 mln hkd oil exploration jv with CITIC unit
-Hong Kong Health Check in talks to buy stake in medical group
-Malaysia’s Samling prices Hong Kong IPO at 2.08 hkd, top end of range - source
CHINA:
-Feb manufacturing PMI 53.1 vs 55.1 in Jan - CFLP
-Coal mine safety violators now liable for up to 7 yrs prison - state media
-China opens first village banks for rural microlending program - Xinhua
-China studying new ways to improve insurance for farmers - state media
-China-Russia border trade reaches 7 bln usd in 2006, up 15 pct - state media
-China strengthens futures risk controls
-China dismisses 9 officials involved in Shanghai pensions scandal
-KongZhong 2006 net profit up 11 pct at 24.7 mln usd on strong sales
-China Shipping Group signs strategic alliance agreement with Shenhua Group
-Ping An Insurance to be added to Shanghai bourse indices from March 15
-China’s job search site 51job 2006 net profit up 62 pct on margin growth
-Lenovo recalls 205,000 laptop batteries
-Wuhan Boiler says Alstom’s new plan to buy in little changed
-ALONG Mobile 2006 net profit jumps to 3.3 mln usd on northwest expansion
-S&P Equity Research names 25 stock picks for Greater China
-Westinghouse signs deal with China for 4 AP1000 nuclear power plants
-Three Gorges targets 78.6 bln kwh in 2007, up 23 pct - state media
-AutoMart completes merger with Deep Field Tech
-CSG Holding to issue 800 mln yuan in one-yr bills
-hiSoft Technology acquires US IT outsourcing firm Envisage Solutions
-Excel Technology in CRM solutions tie up with CDC Software
TAIWAN:
-Taiwan says ready to assist EU probe into licensing system for recordable CDs
-Taiwan govt-related entities to raise stake in China Devt Financial
-Taiwan High Speed Rail launches ops on last section
-Compal Electronics 2006 parent net profit 8.75 bln twd vs 8.42 bln
-China Steel Feb parent pretax profit 5.03 bln twd,up 189 pct on yr
-VIA Technologies Feb parent sales 1.08 bln twd vs 2.32 bln
-Taishin Intl Bank Feb pretax profit 479 mln twd vs 266 mln in Jan
-Powerchip buys 8.29 mln ASE Inc shares at avg price 36.71 twd/shr
SINGAPORE:
-Darco wins 15 new industrial deals worth 17.4 mln sgd
MALAYSIA:
-Petronas forms marketing alliance with Italy’s Selenia
-Muhibbah targets 2-3 bln rgt in oil and gas contracts
INDONESIA:
-Bank Indonesia end-Feb forex reserves 45.69 bln usd vs 43.27 bln end-Jan
-Energi sells 50 pct stake in Kangean gas block to Mitsubishi, Japex
-Jasa Marga expects 2-3 trln rupiah proceeds from IPO
PHILIPPINES:
-Geograce Resources eyes listing in London, Australia
AUSTRALIA & NEW ZEALAND:
-Jan retail sales rise 0.9 pct vs Dec
-AGL raises offer for 27.5 pct of Queensland Gas to 1.60 aud a share
-Queensland Gas supports AGL deal ahead of TCW takeover bid
-Australian regulator revokes competition notice issued to Telstra
-Macquarie Bank now sees H2 net profit topping H1
-Australia ANZ says trading in line with guidance for first 4 mths of fiscal 2007
-Summit Resources rejects Paladin’s 1.011 bln aud takeover offer
-Germany’s Bosch group sets deadline on bid for Australia’s Pacifica
-Centro announces 174 mln usd placement to fund REIT acquisition
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Russian Rouble Gains Popularity »Last summer, Russias Central Bank relaxed capital controls on its currency, making the rouble almost fully convertible with other currencies. As a result, the rouble is quickly gaining respectability and becoming popular both among traders, who are speculating the rouble will appreciate, and investors, who are driving the currency higher with their purchase of Russian securities. Soaring commodity prices and a red-hot Russian economy have driven increases in capital inflows. While the rouble is no...
Scottish & Southern Energy says it is to cut prices for the first time in six years. The group, which supplies energy as Southern Electric, Swalec, Scottish Hydro Electric and Atlantic Electric and Gas, expects to cut gas and electricity tariffs within the “next few months”. The firm currently has seven million domestic customers; it increased its prices at the start of January, when electricity bills rose by an average of 9.4% and gas by 12.2%. The move, announced in...
Asian economic and corporate news summary
March 4, 2007 on 2:34 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 0500 GMT:
JAPAN:
-Jan industrial output falls 1.5 pct from Dec, beats forecast
-Jan retail sales down 0.8 pct year-on-year, falling for 3rd straight month
-Jan auto production up 4.2 pct year-on-year
-Tokyo bourse briefly halts Topix futures, options trading
-Fuji Heavy aims for 80 bln yen in operating profit in year to March 2011
SOUTH KOREA:
-Current account swings to deficit in Jan as trade surplus shrinks
-Samsungcard board clears plan to list this year
HONG KONG:
-GDP in 2006 up 6.8 pct
-Govt sees 2007 GDP growth at 4.5-5.5 pct, CPI up 1.5 pct
-Govt sees year to March 2007 budget surplus at 55.1 bln hkd
-Govt sees year to March 2008 expenditure at 248.4 bln hkd
-Govt sees year to March 2007 fiscal reserves at 365.8 bln hkd
-Govt to accelerate infrastructure projects to create more jobs
-Govt to widen personal income tax bands to 2002/03 levels
-Govt to waive property rates for April-Sept 2007, subject to a ceiling
-Govt fixes stamp duty at 100 hkd on property deals of 1-2 mln hkd
-Govt cuts duties on alcoholic beverages and wine by half
-MTR says Tseung Kwan O Area 56 land premium assessed at 3.35 bln hkd
CHINA:
-GDP in 2006 unchanged at 10.7 pct after revision
-Energy use per unit of GDP falls in 2006 1.23 pct
-World Bank approves 147 mln usd loan for waste water projects in east
-China Life Insurance Jan premium income 23 bln yuan
-Supor Cookware unaudited 2006 net profit 102.21 mln yuan vs 69.23 mln yuan
-Suning Appliance 2006 net profit more than doubles on new stores
-Ping An Insurance to list on Shanghai bourse tomorrow
-PetroChina sees Changqing field oil output at 12.01 mln tons in 2007
-China Railway Engineering Group wins 1.15 bln usd construction contract in Sudan
-Shanghai Petro Exchange to trade styrene, toluene and diethylene in early March
-Network CN completes 1.5 mln usd additional private placement
-China Finance Online turns to loss of 1.7 mln usd on investment write-off
-Match.com acquires online dating firm eDodo
SINGAPORE:
-Jan M3 273 bln sgd vs 225 bln sgd; M2 266 bln sgd vs 219 bln sgd
-Jan commercial bank lending 197 bln sgd vs 183 bln sgd
-Jan credit card bad debt write-offs 8.8 mln sgd vs 9.2 mln sgd
-Celestial Nutrifoods 2006 net profit 370 mln yuan vs 281 mln yuan
-Isetan Singapore 2006 net profit 14.35 mln sgd vs 9.68 mln sgd
-Hong Kong-listed eSun unit makes takeover bid for Media Asia
MALAYSIA:
-Govt to announce winning bids for WiMax licenses by Friday
-Malaysian Airlines, KLM expand code-sharing cooperation
INDONESIA:
-Adira Finance 2006 net profit 463.94 bln rupiah vs 476.37 bln rupiah
-Astra Agro sees 2007 CPO output flat at 920,000 tons
PHILIPPINES:
-SM Development 2006 net profit rises 51 pct on higher revenue
-Hong Kong’s First Pacific makes full payment for additional PLDT stake
AUSTRALIA & NEW ZEALAND:
-Australia Jan private sector credit up 1.3 pct from Dec, up 14.9 pct year-on-year
-Australia well placed to weather market volatility - Treasurer
-Origin Energy H1 net profit 233 mln aud vs 194 mln aud
-Origin Energy H1 net profit up 20 pct on upstream gains
-Centro acquires US property trust New Plan for 3.4 bln usd
-Harvey Norman H1 net profit 180.5 mln aud vs 131.9 mln aud
-Harvey Norman H1 net profit jumps 36.9 pct from one-offs, sales
-Alinta 2006 net profit 172.7 mln aud vs 232.2 mln aud
-Alinta 2006 net profit down 25.6 pct in absence of one-off gains
-Smorgon Steel H1 net profit 75.3 mln aud vs 60.5 mln aud
-Smorgon Steel H1 profit rises on one-offs amid margin pressure
-Symbion Health H1 net profit 59.1 mln aud vs loss 54.1 mln aud
-Symbion Health H1 underlying earnings rise on organic growth
-Lend Lease H1 net profit slips 1.1 pct on UK project delays
-QBE Insurance raises 406 mln aud through share placement
-TCW Group offers 812 mln aud for Queensland Gas Corp
-Straits Resources 2006 net profit falls 25 pct on higher costs
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Calif. citrus reports $800M loss »FRESNO, Calif. - Citrus growers said Tuesday they lost at least $800 million during a recent five-day freeze, the most devastating blow to the industry in more than a decade. The report by California Citrus Mutual is the first detailed accounting of the cold snap originally estimated to cost nearly $1 billion that is expected to leave 12,000 workers out of jobs and increase fruit prices. More than 70 percent of the states citrus crop was hanging on the trees during the frost earlier this...
Fire Your Stock Analyst is the book I wish I’d been able to read when I was starting out. Sure, I found plenty of stock market books, and I read dozens of them. Many described great strategies for beating the market. Most brimmed with anecdotes describing the successes that the authors enjoyed by implementing their ideas. But they were like movies with no endings. None told me how to put all those great ideas into practice. I wrote Fire Your Stock Analyst to fill that void. It’s...
Asian economic and corporate news summary
March 3, 2007 on 9:40 am | In Currency |
BEIJING (XFN-ASIA) - A summary of Asian economic and corporate news at 0510 GMT:
JAPAN:
-Japan Feb new vehicle sales drop 8.7 pct yr-on-yr, down for 20th straight month
-Foreign investors net buyers of Japanese stocks for 7th straight week
-MoF sets 1.7 pct coupon on 10-year bond issue worth 1.9 trln yen
-Japan 10-year govt bond auction lowest accepted bid 100.27 yen; yield 1.668 pct
-Japanese train slams into truck, 44 injured
-Sanyo Electric to dissolve joint venture with China’s Haier
-Nippon Steel hikes yr to March profit forecast on strong demand, higher prices
HONG KONG:
-Hong Kong Feb PMI 55.2 vs 55.9 in Jan - Brunswick
-South Sea Petroleum to raise 100 mln usd via convertible debentures
-Dah Sing Bank 200 mln usd notes rated ‘BBB-’ - S&P
-Matsunichi Comm buys 2 firms in Tianjin for 2.03 bln yuan
-Pacific Century Insurance 2006 net profit 322.45 mln hkd vs 42.50
-Winfoong Intl 2006 net profit 150.53 mln hkd vs 115.13 mln
-Lam Soon (Hong Kong) H1 to Dec net profit 76.72 mln hkd vs 56.18 mln
-Northeast Electric Devt 2006 net profit 29.54 mln yuan vs 26.76 mln
CHINA:
-China Feb manufacturing PMI 53.0 vs 52.0 in Jan - CLSA
-Money market funds vulnerable, need more judicious management - Moody’s
-Further correction In Chinese markets likely after Tuesday’s sharp fall - S&P
-China end-2006 privately-owned vehicles up 23.7 pct at 29.25 mln
-China 2007 steel exports seen down 20 pct; shift to high-end segments - Platts
-China regulator urges commercial banks to rein in NPLs
-CNPC, Norway’s Statoil ASA sign strategic tieup deal
-CNPC to invest 13.7 bln yuan on work safety, environmental protection in 2007
-Kweichow Moutai raises product prices by 12 pct
-Datang Mobile seeks private investment to develop TD-SCDMA
-Sinopec sees Puguang gas field proven reserves doubling in 2008 from 2006
-FedEx completes 400 mln usd buyout of partner’s stake in China jv
-PacificNet unit wins 100-unit lottery terminal order from EU operator
-US-based Fine Arts Lamps wins 25,000 usd China copyright case
TAIWAN:
-Taiwan CEPD sees only short-term impact on local bourse from global volatility
-China Motor targets higher sales of assembled autos, CKD kits this yr
-Inventec unit, Singapore’s Huan Hsin form China joint venture
SINGAPORE:
-Temasek makes takeover bid for STATS ChipPAC
-International Capital to buy Akira assets from TT International
-People’s Food 2006 net profit 852.65 mln yuan vs 736.77 mln
-DMX Technologies 2006 net profit 17.89 mln usd vs 15.02 mln
MALAYSIA:
-Bursa Malaysia says tie-up with SGX for cross-border trading delayed to 2008
-AMMB wins Bank Negara’s approval for ANZ stake deal
INDONESIA:
-Excelcomindo to sell 1.5 trln rupiah worth of bonds
-Pertamina adjusts prices of unsubsidized fuel for March
-Davomas Abadi 2006 net profit 196.28 bln rupiah vs 90.07 bln
THAILAND:
-Thailand to lift remaining capital controls
AUSTRALIA & NEW ZEALAND:
-Australia AIG Feb performance of manufacturing index up 6.4 pts from Jan
-Australia Q4 private new capex rises 1.0 pct vs 5.3 pct fall in Q3
-Computershare pays 25 mln usd for two NAmerican acquisitions
-Babcock & Brown Infrastructure raises 422.1 mln aud via placement
-CSIRO signs IT transfer deal with China Electronic Technology Corp
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Airbus slashing 10,000 jobs »European aircraft maker Airbus plans to cut 10,000 jobs over four years and close or sell several plants as the company struggles to cope with production delays for its new A380 superjumbo jet. The company said it will eliminate 4,300 jobs in France, 3,700 in Germany, 1,600 in the United Kingdom and 400 in Spain. Airbus workers protest job cuts in Colommiers, France on Wednesday. (Remy Gabalda/Associated Press) Airbus CEO Louis Gallois said about half the job cuts will come from the company’s...