Business Asia articles from February 1999

Business Asia archives from February 1999

Asia holding firm -- for now.(Statistical Data Included)
February 1, 1999... China, Brazil quell markets, but banking mess stirs fear China's reaffirmation that it will not devalue the yuan and the passing of a crucial bill in troubled Brazil has calmed fears of a fresh round of attacks on Asian currencies - at...

Ad gong the L'Oreal deal for Li.
February 1, 1999... You saw her in the Chinese movie Raise the Red Lantern, but you wouldn't have seen famous actress Gong Li endorsing products in mainland China. Until now, that is. Chinese ad agencies have been reluctant to use local stars, preferring...

Citibank leads way on syndicated loans.
February 1, 1999... Citibank NA, a unit of Citigroup, was the top arranger of Asian syndicated loans last year. The bank, which sponsors the Business Asia News Magazine Awards, arranged transactions worth US$6.12 billion - equal to a market share of almost 11...

Enter now for awards.
February 1, 1999... Time is running out for Australian companies dealing in Asia to nominate for the 1999 Business Asia News Magazine Awards. Entering their sixth year, the awards recognise outstanding achievements in business, trade and investment between...

IMF admits error of ways.
February 1, 1999... ... but takes a swipe at its critics The International Monetary Fund (IMF) has admitted that it "badly misgauged" the severity of the East Asian economic collapse and inadequately financed the programs it engineered to rescue Thailand,...

Merger activity shows mixed signs.(Asia)
February 1, 1999... A resurgence of Asian mergers and acquisitions (M&A) activity in the second half of 1998 has tempered figures indicating overall falls for the year. M&A transactions in Asia, excluding Japan, declined by 17.7 per cent in 1998, according to...

ASIA FACT FILE.(Illustration)(Statistical Data Included)
February 1, 1999... Signs of life This edition's Fact File examines three life-and-death indicators in Asia-Pacific nations: population growth rates, birth rates and death rates. Birth and death rates are annual figures per 1000 population. AUSTRALIA...

In Brief.
February 1, 1999... * London Singapore Airlines has been voted best Asian airline in an annual global poll of executive travellers by OAG Worldwide. Emirates was voted the top business airline for the second year running. Qantas took out the top title for the...

Chinese top pay hike list.
February 1, 1999... Projected salary increases in China will top 10 per cent in 1999, substantially outstripping hikes in other Asia-Pacific nations, according to a new study. Pay rises for Australia's senior and middle managers in 1999 are expected to match...

Executive demand falls, but HK rally likely in '99.
February 1, 1999... Overall demand for executives in Hong Kong has fallen 14 per cent on the previous year's figures as the Special Administrative Region's economy continues to struggle, but the downturn may be showing signs of tapering off. According to the...

Singapore maps out 2010 plan.
February 1, 1999... Singapore has unveiled an ambitious plan to mould its industry into one that is knowledge driven by the year 2010, with annual electronics sector output seen reaching S$150 billion (US$89 billion). One major goal stated was "to develop...

Mahathir tries to silence critics.
February 1, 1999... Kuala Lumpur - Malaysian Prime Minister Mahathir Mohamad has clipped his own wings to stem mounting criticism over his sacking of Anwar Ibrahim and regain the political initiative ahead of general elections. Dr Mahathir reshuffled his...

Now's the time to deliver.
February 1, 1999... Good logistics can save companies time and money. In the current Asian business environment, that can mean the difference between success or failure. Being even more time-efficient and taking advantage of the electronic commerce era are...

Crisis ups the ante for logistics users.
February 1, 1999... Changes to consumer patterns within the logistics industry have been accelerated by Asia's financial problems, according to DHL The chief operating officer for DHL Asia Pacific/Middle East, Mr Graham Davey, said new emphasis had been placed...

TNT affirms Asia presence.
February 1, 1999... Launching a new corporate identity in Asia late last year was one way express delivery company TNT chose to reaffirm its commitment to the troubled region. The company announced the merger of three business units - TNT Express Worldwide,...

Smart logistics saves millions.
February 1, 1999... The efficient use of logistics - an industry capable of saving a company millions of dollars - has become even more critical because of Asia's economic downturn, according to a senior Singapore official. Minister of State for Communications...

Sultan backs free trade.(Sultan Haji Hassanal Bolkiah, Brunei)
February 1, 1999... The Sultan of Brunei has urged countries in South East Asia to maintain principles of free trade in order to recover from Asia's current economic crisis. Sultan Haji Hassanal Bolkiah of Brunei, one of the world's richest people, said...

FACTS & FIGURES.(Brunei)(Statistical Data Included)
February 1, 1999... Leader: Sultan Haji Hassanal Bolkiah Population: 0,3 million Capital: Bandar Seri Begawan GDP growth: 3.5% GDP per capita: $19,500 POLITICAL OVERVIEW * Brunei regained its...

School of hard knocks for jobless graduates.(Hong Kong)
February 1, 1999... Trudging out of a Hong Kong employment agency, Cheng Shi-wai forced a smile to her face - taut and ashen with apprehension, "I have been looking for a job for a long time," said the fresh graduate in business administration. "I have...

Laureate urges India to overcome illiteracy.(Economist Amartya Sen)
February 1, 1999... Nobel Prize economics laureate Amartya Sen says India needs to give a boost to basic education to speed up its economic development. Describing illiteracy as "an issue of greatest concern", Mr Sen added: "Social change is something in which...

Classrooms a priority in Philippines.
February 1, 1999... Manila -- In line with its commitment to improve school facilities as part of an overall program for providing Filipino children with quality basic education, the Estrada administration will this year build more than 8000 new classrooms for...

Trade brake on India, China.
February 1, 1999... India and China are likely to feel the impact of Asia's economic crisis in 1999, with deteriorating external conditions to cause stagnant, or even negative, export growth in the near-term for both countries. The prediction, by US ratings...

Jakarta projects face axe.(includes other items)
February 1, 1999... * Jakarta - Licensed foreign investment projects worth US$5 billion are facing cancellation in Indonesia as they show no signs of implementation since their approval last year. Minister of Investment Mr Hamzah Haz said that a project licence...

Japan Inc shows new resolve.
February 1, 1999... Yes, we've heard it all before: Japan has promised to get its financial house in order. But this time, it might just be true. All eyes have been fixed on Europe in early 1999. Yet two years from now, I suspect we'll remember 1999 not...

Chinese figures add up to good news for region.
February 1, 1999... If we can believe the figures, China's economy continues to grow at astonishing rates while its Asian counterparts slip into once unimagined negative rates of growth. China's official gross domestic product (GDP) growth figure for 1998 was...

Hanoi battles to cut red tape.(Statistical Data Included)
February 15, 1999... Vietnamese leaders' friendlier face towards foreign investors has so far failed to allay frustrations over long-standing barriers to Western business deals. A Vietnamese trade delegation headed by the Minister for Planning and Investment,...

Deflation a dirty word in Asia.(Statistical Data Included)
February 15, 1999... Buy a car in Malaysia, a Coke in Singapore or a sweater in Hong Kong this year, and you're probably paying less than last year. The recession gutting many Asian economies has snuffed out demand for everything from sports shoes to...

ASIA FACT FILE.(Statistical Data Included)
February 15, 1999... Changing times This edition's Fact File examines exchange rate trends of Asia-Pacific currencies against the US dollar. AUSTRALIA (A$/US$) 1993-97: 1.36 1997: 1.35 1998: ...

CEOs upbeat on growth.
February 15, 1999... E-commerce wins favour Seventy per cent of Asian chief executives remain confident about the growth prospects of their companies despite the region's current turmoil, according to a new survey. The PricewaterhouseCoopers-World Economic...

Awards entries officially close.
February 15, 1999... Nominations have closed for the prestigious 1999 Business Asia News Magazine Awards. A panel of judges is now sifting through entries and a full rundown on the finalists will appear in the next edition of Business Asia. Now in their...

Building a future.(Statistical Data Included)
February 15, 1999... East Asia and India's Forecast Demand for Infrastructure, 1995-2004 (Low case scenario - GDP growth of 5 to 6 per cent per year(a)) Power Telecommunications Transport US$ % of US$...

In brief.
February 15, 1999... * New Delhi -- Quarrelsome allies and ideological tussles within the ruling Bharatiya Janata Party (BJP) threaten to cast a shadow over next month's federal budget and hamper progress on the Indian economy. The ten-month-old BJP-led government...

Agility key to profit on Jakarta bourse.
February 15, 1999... Jakarta -- Indonesia's stock market still offers profit opportunities despite the devastating economic downturn, analysts say -- but only to the fleet of foot. Gripped by political uncertainty and the fear of mounting unrest as elections...

Japanese need sense of crisis to spur revival.
February 15, 1999... Japan is suffering its worst recession in five decades and its jobless rate is near a record high -- but some experts think the real problem is that times aren't tough enough. Japan's unemployment rate dipped a little in December from a...

Property group swoops on ailing projects.
February 15, 1999... With a brief to prey on stressed and underperforming assets, it is little wonder property group Thakral Holdings is focusing its attention on parts of Asia. Thakral Holding's chief executive officer Mr John Schaap recently had someone from...

Korea's chaebol lick their wounds.
February 15, 1999... South Korea's conglomerates played a key role in the nation's growth-and contributed to Seoul's dramatic fall in 1997. A report by McKinsey examines what went wrong-and what the chaebol must do to survive into the new millennium. South...

IMF forecasts 2% growth.
February 15, 1999... Seoul -- The International Monetary Fund (IMF) predicts South Korea's economy will expand by at least 2 per cent this year, the Korean government has reported. "The two sides shared a view that the Korean economy has embarked on the path...

MAHATMA GANDHI.
February 15, 1999... India's secular saint "I want to avoid violence non-violence is the first article of my faith" -- Mahatma Gandhi, 1922 Mahatma Ghandi's political philosophy on non-violence is shattered by the recent Indian and Pakistani nuclear tests...

Year of Rabbit may offer respite.
February 15, 1999... With Lunar New Year upon us, the fortune-telling fraternity has gone into over-drive to predict what the coming Year of the Rabbit will mean. Most Asian nations mark the lunar celebration on February 16 and 17. In Hong Kong, the...

India, Japan top health bill.
February 15, 1999... Opportunities emerging in India and Japan for health products and services are compensating for downturns in other Asia-Pacific markets, according to Australian Business Health. Mr Robert Krakowiak, the export marketing and consulting...

`Don't abandon projects now'.
February 15, 1999... Foreign-assisted projects in Asia remain as critical as ever if health gains in the region are to be maintained in the aftermath of financial turmoil, according to an industry expert. Mr Stephen Duggan, the project director for Overseas...

Where you can invest.
February 15, 1999... Australian health products and services enjoy a strong worldwide reputation and are applicable to Asian health needs. We profile market trends in key Asian nations and highlight investment opportunities for Australian companies. CHINA ...

Dong devaluation on cards.
February 15, 1999... Pressure has eased on Vietnam's dong currency, but many bankers expect dollar liquidity to tighten in the next few months, forcing the government to devalue the local currency by the end of the second quarter. Out of six foreign and local...

At a glance.
February 15, 1999... Australian exports to Vietnam * Australian exports to Vietnam grew strongly during the first 11 months of 1998, totalling $A349.4 million, an increase of 65.5 per cent on the same period in 1997. * Product categories with the highest...

Trade hits record, but red tape lingers.
February 15, 1999... After more than 25 years of diplomatic relations between Australia and Vietnam, trade and investment between the two countries is entering a mature stage. Two-way trade is growing strongly and, in 1998, broke the A$1 billion Australian...

Japan homes in on traders.
February 15, 1999... Japan is simplifying its often-complex distribution systems -- making it easier for foreign exporters to reach their target market and present a greater range of products. Food exporters highly rate Japan's annual Foodex trade show, which...

Investment in Malaysia plunges.(includes other items)
February 15, 1999... * Kuala Lumpur -- Manufacturing investment in Malaysia plunged to a five-year low in 1998 as Japanese companies such as Sony Corp slowed new ventures. Proposed foreign investment in manufacturing -- a sector that makes up about a third of gross...

Ballet seeks sponsor for Asian shows.
February 15, 1999... Sponsorship of the Australian Ballet's performances in Asia could be one way to overcome regional business barriers, according to the Ballet's director of development, Mr Kenneth Watkins. He said companies which sponsored performances could...

Who needs Japan anyway?
February 15, 1999... Most analysts argue that Asia's eventual recovery hinges on a turnaround by the huge Japanese economy. However, DAVID DeROSA(*) suggests that recent stock market movements dispel this belief Consensus seems to be that recovery in Asia's...

Exit tax won't endear Malaysia to investors.
February 15, 1999... Malaysia's introduction of an exit tax on foreign investment will do nothing to rid the country of its pariah-like investment status, fund managers in Hong Kong claim. "People will keep in mind that having taken people's money under one...