Business Asia articles from December 2003

Business Asia archives from December 2003

China fears spur Japan trade deal push.(FRONTLINE)
December 1, 2003... Japan is desperate to enter into trade deals with the rest of Asia. Imagine that, free market ideals are blooming in Asia and all because of Japan. The cause of this frenetic competition on Japan's part has to be fear of China's success as...

Open economy to help democracy: Chinese Premier.(UPDATE)(Wen Jiabao)(Brief Article)
December 1, 2003... China's 25-year old drive to adopt a market economy will help improve its record on human rights, which hasn't been "impeccable", Premier Wen Jiabao said during his US visit in December. The process of transition to market economics has...

Word of mouth.(UPDATE)(Brief Article)
December 1, 2003... "We are discussions with one or two people about either working with them on a low-cost airline they have already set up or setting up a low-cost airline." Richard Branson, head of Virgin worldwide who turned a $10 million investment in...

China needs at least one trillion yuan ($163 billion) to help the country's largest state-owned banks reduce bad loans and prepare them for domestic share sales, according to Fitch Ratings.(CHINA)
December 1, 2003... China needs at least one trillion yuan ($163 billion) to help the country's largest state-owned banks reduce bad loans and prepare them for domestic share sales, accord ing to Fitch Ratings. The amount a 10th of China's gross domestic product...

North Korea said Japan's attempts to put spy satellites into orbit is evidence it wants to become a "military giant" and expand overseas.(NORTH CHINA)(Brief Article)
December 1, 2003... North Korea said Japan's attempts to put spy satellites into orbit is evidence it wants to become a "military giant" and expand overseas. Japan is Seeking to "destroy the strategic balance and gain supremacy in strategic attack weapons in North...

South Korea said it plans to use part of its foreign-exchange reserves--the fourth highest in the world--to create a state-controlled overseas-investment fund and boost returns on its holdings.(SOUTH KOREA)
December 1, 2003... South Korea said it plans to use part of its foreign-exchange reserves--the fourth highest in the world--to create a state-controlled overseas-investment fund and boost returns on its holdings. The Government plans to inject reserves in excess...

Malaysia said a record US$3.8 billion railway project will probably be postponed amid protests from China and India over the award of contracts to Malaysia Mining Corp. and Gamuda Bhd.(MALAYSIA)
December 1, 2003... Malaysia said a record US$3.8 billion railway project will probably be postponed amid protests from China and India over the award of contracts to Malaysia Mining Corp. and Gamuda Bhd. Shares in the two local companies plunged. "There was a...

Japan said talks would begin in early 2004 with Malaysia, Thailand and the Philippines on eliminating import tariffs and other trade barriers agreements.(JAPAN)(Brief Article)
December 1, 2003... Japan said talks would begin in early 2004 with Malaysia, Thailand and the Philippines on eliminating import tariffs and other trade barriers agreements that would help the world's second-biggest economy boost exports in Asia. Japan wants...

The Indonesian Bank Restructuring Agency, formed five years ago to manage distressed assets seized from state banks, has recovered a total of 163 trillion rupiah ($25.9 billion).(INDONESIA)(Brief Article)
December 1, 2003... The Indonesian Bank Restructuring Agency, formed five years ago to manage distressed assets seized from state banks, has recovered a total of 163 trillion rupiah ($25.9 billion). Economics Minister Dorojatun Kuntjoro-jakti told international...

Tiger Airways, the proposed discount carrier 49 per cent owned by Singapore Airlines expects to be profitable in its first year of operations, interim chief executive Charlie Clifton said.(SINGAPORE)(Brief Article)
December 1, 2003... Tiger Airways, the proposed discount carrier 49 per cent owned by Singapore Airlines expects to be profitable in its first year of operations, interim chief executive Charlie Clifton said. "We've got to set a tough target," said Clifton, former...

Job hunt.(ASIA FACT FILE)(Illustration)
December 1, 2003... Job Hunt In this month's Fact File, we look at unemployment rates in Asia. COUNTRY JOBLESS RATE (%) Australia 5.6% China 4.2% Hong Kong 8.0% India 7.3% Indonesia ...

Export optimists Australia's export outlook for 2004: the majority of Australia's exporters are bullish about trade growth in 2004, a new survey has found.(Cover Story)
December 1, 2003... The war in Iraq, the global economic slowdown, the devastating Severe Acute Respiratory Syndrome (SARS) outbreak and the rising A$ made 2003 a tough year for Australia's exporters. But the results of a new survey have found it takes more...

Singapore back on the rise.(SPECIAL REPORT)
December 1, 2003... Investor confidence in Singapore is on the rise again after its tumultuous SARS affected 2003, Austrade chief economist Tim Harcourt says. Harcourt said confidence in Singapore also received a boost from the signing of free-trade...

40th anniversary awards dinner.(AUSTRALIAN EXPORT AWARDS)
December 1, 2003... Australia's export leaders gathered in Sydney in November for the Announcement of the 2003 Australian Export Awards winners. More than 500 people were on hand at the gala ceremony held at the Sydney Convention Centre to witness QBE Insurance...

The ballad of exportise 2003: modern day poet Rupert McCall, who was this year's host at the gala Australian Export Awards ceremony held in Sydney, penned the work below as a tribute to Australia's exporters, McCall read the poem during the Awards ceremony and was met with rapturous applause.(AUSTRALIAN EXPORT AWARD)(Poem)
December 1, 2003... If I stood up here and bayed with brave esteem To all the people gathered--"Friends, I have a dream! That man should not be rated by the colour of his skin But the content of his character"--Let the night begin! If I told...

New service aims to support Australian exporters seeking talented staff.(Sponsor's Message)(Brief Article)
December 1, 2003... Are you an exporter seeking qualified personnel or consultants in another county with both local on-the-ground knowledge as well as experience in Australia? IDP Education Australia, Australia's leading international education and...

Challenges for Korea's growth engines: in the third of a series of articles focusing on South Korea, Sarah Hill * examines the challenges facing the nation as it strives to reinvent its economy.(SOUTH KOREA IN FOCUS)(A Group Council)
December 1, 2003... The South Korean government has selected 10 new hi-tech industries to serve as "cash-cows" over the next five years, marking a push towards a more innovation-driven economy. There are, however, many challenges South Korea must overcome...