Business Asia articles from June 1998

Business Asia archives from June 1998

Three more years of pain.(Indonesia's economy)
June 15, 1998... Three of Australia's leading Indonesian experts have warned business to tread very carefully in the post-Suharto era, to hold off any plans for at least six months and to be prepared for three years of pain before the political environment...

Noordin Sopiee: Asia is far from finished.(Malaysian economist)
June 15, 1998... Prominent Malaysian economist and commentator, Dr Noordin Sopiee, has joined the increasing number of regional figures to declare the Asia "miracle" is far from finished, despite the current "mayhem". Speaking at the annual Business Asia...

India steps up efforts to woo back business.
June 15, 1998... Ignoring the international condemnation and the threat of sanctions, plus business hesitancy, following last month's nuclear tests, Indian officials have stepped up their calls for Australian business to invest in India and strengthen trade...

Australia exports to Asia plunge.
June 15, 1998... Australian exports to Asia's leading economies have plunged by around A$2.6 billion in the first quarter of the 1998 calendar year, ended March 30, according to the latest figures from the Australian Bureau of Statistics. According to the...

Infrastructure hardest hit.
June 15, 1998... Asia's financial problems will have a greater impact on project and infrastructure debt than on other sectors, according to Standard and Poor's. The ratings agency said the sector which once fuelled much of the region's phenomenal growth...

Asian obituary premature.
June 15, 1998... While the flood of economic and business data from Australia and across Asia is stark evidence of how deep the regional crisis is, the Asia Pacific Economic Group claims obituaries for the death of regional growth are premature. The group,...

On the pulse.(Asian economic news)
June 15, 1998... * HANOI--Vietnam's Ministry of Planning and Investment has issued a new rule for three types of foreign funded projects to be granted licences within 15 days from the date of application. Under the scheme, the investors do not have to make...

Is Estrada fighting a losing battle.(Philippines president-elect Joseph Estrada)
June 15, 1998... Incoming Philippines president, Joseph Estrada, former movie star, mayor of Manila and friend of Marcos, is going all out to win over the country's still anxious and sceptical local and foreign business community and financial markets. ...

Olives to Asia.
June 15, 1998... Asia and olives are not usually see as the perfect pair, but Australian Olives claims demand for olives and olive products is increasing worldwide, especially in Japan, while Malaysians and Singaporeans are recent olive investors. ...

Building industry temporarily stalled.(Asia)
June 15, 1998... The Asian building and construction industry has been stalled by the economic crisis, but certain sectors will recover surprisingly quickly, said a study by BIS Shrapnel. The study, Building and Construction in the Asia Pacific Region...

Judging the best in the business.
June 15, 1998... Nominees have been announced for the inaugural Best Business Hotels in Asia Awards, with well established hotel chains, such as the Hyatt, the Marriott, the Inter-Continental, the Regent, the Sheraton, the Shangri-La, the Oriental and the...

Chiang Kai Shek.
June 15, 1998... Generalissimo's genesis "My spirit will always be with my colleagues and my countrymen to recover the mainland and to restore our national culture," Chiang Kai Shek. Portrayals of Chiang Kai Shek evoke two strong, very different,...

Regional leaders flock Down Under.(Australian economic summit)
June 15, 1998... Today in Melbourne a distinguished line-up of political and business speakers will take the stage at the first Australia Summit to discuss the future of business and investment in Asia Pacific. Hong Kong's Chief Executive, Tung Chee Hwa,...

Export state faces Asian gamble.
June 15, 1998... Western Australia's proximity to Asia and its heavy export exposure to the region, unfortunately, ensures it cannot avoid effects of Asia's ongoing financial crisis and economic downturn. The state produces more than a quarter of all...

The 1998 Business Asia awards.
June 15, 1998... Simply the best... Like the organisations it rewards, the Business Asia annual awards continue to grow and prosper, providing an inspiration for Australians doing business in Asia and Asians doing business in Australia to be the best in...

Providing neighbourly support.
June 15, 1998... The economic recovery of Indonesia is very important to Australia. The long period of economic growth and political stability in the country has been of fundamental importance to Australia's economic and strategic interests. Recent events...

A not so great wall.(Great Wall of China)
June 15, 1998... On your first visit to Beijing, you can't help but be impressed by two things: the wealth of history and the extensive development that is taking place. On subsequent visits to Beijing, you can't help but be amused at the continuing...

Ray of hope for East Asia.
June 29, 1998... ... but Japan's bank reforms hold the key Reforms to Tokyo's ailing banking sector remain crucial to Japan and East Asia's economic recovery following landmark United States intervention to prop up the yen. Noted Asia commentator...

SFE eyes joint Asia deals.(Sydney Futures Exchange)
June 29, 1998... The Sydney Futures Exchange is looking to "do some mutually cooperative" deals with exchanges in Asia as well as compete head-on for business. While SFE chief executive Mr Les Hosking can see several opportunities for Australia to fulfil...

IN BRIEF.
June 29, 1998... * Melbourne -- Macquarie Bank is looking at ways to extend its securitisation business offshore, possibly into Hong Kong or China. Managing director Mr Allan Moss said the Australian investment bank had built up expertise in the business, which...

Summit a mix of gloom, hype.(Australia Summit)
June 29, 1998... The much-hyped, but arguably ineffective, Australia Summit has reinforced old stereotypes: politicians must put on a brave face, and economists will be damned if they have to. Gloomy messages were spread by economists at the recent...

Resolute China to lead fightback, says trade boss.
June 29, 1998... Reform of China's state-owned enterprises (SOEs) presents huge potential benefits for foreign markets and will help lead Asia's recovery from financial turmoil, according to a leading Hong Kong trade official. Dr Victor Fung, chairman of...

Vietnam seeks auditors.
June 29, 1998... Vietnam's move into a market economy has led to an increasing demand for accountants and auditors trained to international standards, according to Victorian-based Swinburne University of Technology. The university said that as Vietnam...

No quick fixes as companies fight off debt.
June 29, 1998... Asia's recovery from the current economic crisis may take up to five years as companies restructure under the weight of billions of dollars of debt. According to Alan Carroll, executive chairman of convention group, Pacific Rim Forum and...

Cautious foreigners snub Korean bonds.
June 29, 1998... According to South Korea's scenario, foreign investors, salivating to get a piece of the country's huge bond market, would pour in money at the first opportunity. Foreign funds would then be used to pay for economic and corporate...

Jobs crisis may wreck blueprint for revival.
June 29, 1998... Tokyo - The Bank of Japan (BOJ) has sounded a warning on the nation's worsening jobs situation, saying it could undermine the effects of the government's latest economic stimulus package. "Positive effects of the fiscal policy may be...

Economists denounce mini-bubble concept.
June 29, 1998... While Japan rummages through a shortlist of options to avert a possible deflationary spiral, most policymakers and economists are turning their thumbs down on an idea of creating a mini-bubble to jumpstart the economy. The idea of a...

Rapid change vital to cure Japan's woes.(ST)
June 29, 1998... Forget the impact of the Asia crisis: lack of reforms in Japan mean the superpower has been its own worst enemy. Chronic infrastructure problems are weighing down Japan's economy and must be addressed if the superpower of Asia is to lead...

Onus off banks to reveal bad loans.
June 29, 1998... Japanese Finance Minister Mr Hikaru Matsunaga has opposed moves to push banks to disclose more of their bad loans, saying the option should be considered "carefully". Mr Matsunaga also said the government was not planning to use more...

And the nominees are ...
June 29, 1998... We started with hundreds of hotels then our panel of judges selected a final list of 67 hotels from across the region for Business Asia's Best Business Hotels in Asia Awards. Now, readers, it's over to you. Analyze the hotels nominees on this...

`Office bedrooms' turn off customers.
June 29, 1998... Location, competitive room rates and better service are more important to business travellers than high-tech office bedrooms, according to a joint study between Hilton International and Telstra. The survey of Australian and international...

Awards a spur for hotels sector.
June 29, 1998... Hotel finalists have been determined. Now the countdown begins for the prestigious Best Business Hotels in Asia Awards, which promise to provide a fillip for the region The inaugural Best Business Hotels in Asia Awards are a significant...

Thai PM backs awards night.(Prime Minister Chuan Leekpai)
June 29, 1998... The Prime Minister of Thailand, Mr Chuan Leekpai, will be the guest of honour at Business Asia's inaugural Best Business Hotels in Asia Awards ceremony. The event, to be held at the Shangri-La Hotel in Bangkok on September 11, will...

THE OUTLOOK.(ST)
June 29, 1998... Full average GDP forecasts or 1998 and 1999 - Reuters Government 1998 1999 forecast forecast forecast China +8.0% +7.6% +8.3% Hong Kong N.A -1.1% ...

Poll tags winners, losers.
June 29, 1998... Analysts predict a rocky road ahead for most Asian economies in the next six months, but the region still proffers a few bright spots. Japan is emerging as the biggest question mark for Asia's economies, most of which are expected to...

Foreign traders stand by Darwin.(Australia)
June 29, 1998... Talk of doom and gloom in Asia has not dimmed interest in Darwin's NT Expo. Exhibitor numbers continue to be strong and Asia's representation remains high. An "overwhelming" response from beleaguered Asian delegates has confirmed NT Expo's...

Big guns attend showcase.(Australian industry)
June 29, 1998... The NT Expo's Industry Showcase to Defence attracted about 160 exhibitors this year, almost twice as many as last year. Major defence companies took part, including ADI Limited, Tenix and British Aerospace. More than 270 exhibitors...

Asian ties vital: Kilgariff.
June 29, 1998... Oil and gas are among the specialised industries the Northern Territory must expand to help beat the negative effects of Asia's financial crisis, according to Darwin's International Business Council. Council manager Mr Michael Kilgariff...

'Net scheme will provide link to region.
June 29, 1998... The Northern Territory Government has embarked on an ambitious Internet program that ultimately aims to connect remote areas of Australia with Asia. The first phase of funding for the "Electronic Outback" project was approved by the...

NT still `bullish' in the region.(Northern Territory)
June 29, 1998... The Northern Territory brains trust remains bullish about its long-term relationship with its Asian neighbours in the face of regional turmoil. Darwin has staked its future on business expansion in the region and seems undeterred be recent...

Expo puts business in spotlight.
June 29, 1998... The NT Expo has become a prime meeting place for national and international business representatives. Overseas delegates continue to regard the event as a crucial means of shoring up business deals, despite uncertainty over Asia's current...

Handy displays.
June 29, 1998... Furniture and handicraft products were key areas of interest for Indonesian participants in this year's NT Expo. Indonesia's Darwin consul Mr Widodo Surono admitted that economic hardship had forced his nation to cut back its Expo presence....

Manzie quick to meet Jakarta's new order.
June 29, 1998... The Suharto regime is gone in Indonesia, but the Northern Territory is eager to maintain its business friendship with its neighbour. The Northern Territory is pushing ahead with trade projects in Indonesia despite the recent overthrow of...

Mindanao's woes a boon for NT.(Northern Territory, Australia)
June 29, 1998... Ongoing development plans and a food crisis affecting about 800,000 families in central and southern Mindanao represent a significant business opportunity for the Northern Territory. Led by the Department of Asian Relations, Trade and...

Drysdale puts spin on region.(economist Peter Drysdale)
June 29, 1998... Japan needs a new leader, China holds the key to the region's financial recovery, and Asian nations will emerge from their current financial turmoil at different rates. These forecasts formed part of an analysis of Asia by Professor Peter...

Fire threat still smouldering in ASEAN.(Association of South East Asian Nations)
June 29, 1998... Singapore - South East Asia cannot afford to let its guard down in the fight against debilitating smog and forest fires amid the region's economic crisis, a Singapore minister has warned. "ASEAN cannot afford another fire and haze disaster....

Fires cost $4.5 billion.
June 29, 1998... The Indonesian forest fires and the haze last year cost about US$4.5 billion in damage, probably the worst environmental disaster in the world. The Economy and Environment Programme for South East Asia (Eepsea) and World Wide Fund for...

Fight for market share, says Fischer.(Tim Fischer)
June 29, 1998... Australian exporters must "fight hard" every day for worldwide market share, according to the Deputy Prime Minister and Minister for Trade, Mr Tim Fischer. Launching the 1998 Australian Export Awards earlier this month, Mr Fischer said a...

Export-led revival a myth.
June 29, 1998... The solution to the Asian crisis seemed simple: just dump world markets with cheap goods. Singapore-based RICHARD HUBBARD says the theory has not worked When Asia's currencies dropped like a stone at the start of 1998, the perceived wisdom...

Singapore tops expat survey.(expatriates)
June 29, 1998... * Hong Kong -- Singapore provides the best quality of life in Asia for expatriates and South Korea the worst, an annual survey by the Hong Kong-based Political and Economic Risk Consultancy has found. Singapore beat last year's winner Malaysia...

Trade venture aims to exploit Games spin-off.
June 29, 1998... An Australian business venture aims to extend investment and business ties into Asia by maximising Australia's exposure during the 2000 Sydney Olympics. Investment 2000, founded by Westpac, the federal and New South Wales state governments...

Packaging firm seals three contracts.
June 29, 1998... An innovative South Australian packaging company, Hot Melt and Packaging Systems (HMPS), has signed three contracts with Asian buyers worth a total of A$1 million. Despite the Asian economic crisis, HMPS has successfully targeted new...

Talks to focus on South Asia.
June 29, 1998... A series of seminars designed to expose Australian export and investment opportunities in South Asia begins in Brisbane next month. The national LinkWest South Asia '98 seminars, organised by Austrade, will focus on markets in India,...

Ignore Hanson factor at our peril.(Pauline Hanson)
June 29, 1998... Hong Kong chief executive Tung Chee Hwa is the first Asian leader to directly comment on the Pauline Hanson factor and its possible impact on Australian business ties with Asia. BINA BROWN(*) comments on an issue that won't go away As the...

Can Jakarta bear fruits of change?
June 29, 1998... POSTCARD FROM JAKARTA The normally full Monday morning Garuda flight from Singapore to Jakarta was virtually empty. On arrival at Jakarta's international airport, a similarly deserted scene greeted me. My business trip coincided with...