Business Asia articles from March 2000

Business Asia archives from March 2000

IT boom to help reduce poverty.
March 3, 2000... An "information revolution" - incorporating a free press, e-mail, the World Wide Web and mobile phones - is one of the best weapons in the fight against poverty, according to the World Bank. Julian Schweitzer, the bank's director of...

Australia, N. Korea discuss old debts.
March 3, 2000... Outstanding North Korean debt to Australian companies is central to discussions this month in talks on diplomatic recognition for the isolated nation. The talks in the North Korean capital of Pyongyang are expected to raise the issue of...

Upbeat forecast for Taiwan.
March 3, 2000... Taiwan's fourth-quarter economic growth roared back to levels not seen since before Asia's recession and should maintain the sizzling pace well into 2000, the State statistics agency said. Analysts were more cautious, however, saying the...

News: In brief.
March 3, 2000... * Beijing -- Sales of private cars in China are expected to reach 910,000 units in 2000, according to a recent survey of 6400 people in 14 major cities. It said that 4.4 per cent of the families surveyed planned to buy cars this year, an...

Trade talk.
March 3, 2000... In this week's Fact File, we look at the amount of merchandise Asia-Pacific countries exported in 1998 and their overall share of world merchandise exports. AUSTRALIA World share 1% Export value US$55.9b CHINA World share...

Elections to stall reforms.
March 3, 2000... Fears are rising that a series of elections across Asia this year will put crucial economic and corporate reforms on the backburner. The exception should be Asia's current bright spot, South Korea, according to Andrew Agnew, head of...

Sabre-rattling by China stiffens US resolve.
March 3, 2000... A new bout of sabre-rattling by China just as it was earning plaudits for restraint on Taiwan has given ammunition to enemies in the United States Congress who are taking aim at a deal to bring Beijing into the World Trade Organisation (WTO)....

Can IT pull Japan back into shape?
March 3, 2000... A string of benign Prime Ministers has been unable to drag Japan's economy out of the mire. And a trillion dollars of government pump priming has also proven ineffectual. However, it seems Japan's economy finally has a saviour:...

Li builds his own field of dreams.
March 3, 2000... Pacific Century Group called a journalist with a complaint last year on a story written about chair-man Richard Li's new satellite venture with Intel Corp: Why did you mention his father? "It's a good story," a company spokesman said. "But...

E-investors flock to China.
March 3, 2000... Charles Zhang and Heidi Hsueh face the same dilemma as they seek to expand Internet businesses in China: They have no idea who's out there. Hsueh, vice-president of pAsia Inc, an Internet auctioneer, reckons China has no more than about 6...

Hong Kong to launch trade site.
March 3, 2000... Australian exporters to Hong Kong will soon have access to the latest economic and trade information about the special administrative region thanks to a new Website. The Hong Kong Economic Forum -- a new section being included in the Trade...

Information Technology: In brief.
March 3, 2000... * New Delhi -- The Indian subsidiary of US-based Computer Associates (CA) is planning to set up a joint venture portal in the country as part of its global push into e-business. CA will hold either a 70:30 or 60:40 majority stake in the portal...

Asian Internet market to surge.
March 3, 2000... At the end of 1998 it was estimated that around 171.8 million people had access to the Internet throughout the world. Canada and the US held the largest share of the Internet market with 56 per cent in 1998. However, the combined...

OTS secures foothold in HK market.
March 3, 2000... Online Trading Systems Ltd(OTS) has kicked off the first stage of its global expansion strategy, securing a joint venture with Hong Kong's Kingsway Online Ltd. OTS also revealed it was in talks with other potential partners as part of the...

Microsoft examines new rules.
March 3, 2000... Microsoft Corp, the world's largest software maker, is in talks with Chinese officials to ensure that rules on encryption technology won't delay plans to roll out its Windows 2000 operating system. The company said it expects that as a...

Citibank out to lift share in Singapore.
March 3, 2000... Banking giant Citibank N.A. says it aims to double or triple its share of the Singapore home loans market with the launch of a new product. The product would allow customers to pay off loans up to six years earlier and save up to S$220,000...

Asian giants in awards hunt.
March 3, 2000... Asian corporate giants led by business luminaries such as Hong Kong billionaire Li Ka Shing and Malaysia's "Sugar King" Robert Kuok are in the running for the 2000 Business Asia News Magazine Awards. Voting is now open for the 2000 awards...

Flowers bloom for Dear Leader.
March 3, 2000... In the unpredictable world of North Korea, one of the few certainties is that every February 16, thanks is given for the birth of reclusive leader Kim Jong II. It is a day when the North regularly reports how flowers bloom, veterans cry...

Vietnam must embrace IT, says Wolfensohn.
March 3, 2000... World Bank president James Wolfensohn has warned that it is essential for Vietnam to fully embrace information technology and it cannot become a serious player in a globalised world if it continues to censor the Internet. Wolfensohn told a...

Banks, telco holdings to boost Ayala.
March 3, 2000... Philippine conglomerate Ayala Corp has posted slight profit growth in 1999 and analysts say although the figure is lower than estimates, expectations for 2000 remain bullish. Ayala Corp's stronger hold on the telecommunications and banking...

Leighton in a league of its own.
March 3, 2000... Leighton Asia goes from strength to strength in Hong Kong, while other Australian construction companies continue to miss the boat. John Faulkner, boss cocky of Leighton Holdings' mighty Asian empire, is non-plussed. "It staggers me...

Phoenix's dirt-cheap homes.
March 3, 2000... Phoenix Technology's solution to provide cheap and stable housing for Asia's teeming billions is absolute rubbish -- literally. The Sydney-based company has developed a system where refuse of all types -- everything from timber, plastic,...

Reliance to enter building business.
March 3, 2000... India's Reliance Group is entering the engineering and construction (E&C) business, especially to undertake projects in the hydrocarbon and power sectors, senior officials of the group have announced. "The E&C foray will leverage the core...

Thai property comeback.
March 3, 2000... Most of the Thai property market has now stabilised and is set to bottom out after struggling for more than two years, Jones Lang LaSalle (JLL) claims. "Though the oversupply remains huge and demand stays weak, signs of recovery have...

Korea to build business centre.
March 3, 2000... A mammoth foreign business complex to include two 90-storey buildings, apartments, hotels and department stores is being promoted for construction near Seoul. The Korea Foreign Company Association (KOFA) plans to pass a resolution for the...

Export prospects shine at AD Coote.
March 3, 2000... West Australian sheetmetal and lighting company AD Coote & Co is lighting up the sports fields and mine sites of Asia to position itself for healthy export sales. It has beat tough competition from lighting and column manufacturers in...

High rewards as Asia bottoms out.
March 3, 2000... Asian property markets have bottomed out and several offer potentially high rewards to investors, the Asia-Pacific head of property consultants Jones Lang LaSalle (JLL) says. "Asia will once again be the fastest-growing emerging region,"...

RECONSTRUCTING ASIA: In brief.
March 3, 2000... * Hong Kong -- The Hong Kong government is asking companies to bid for a project to build and operate a cable car system on Lantau Island, a move that's seen as boosting the territory's tourism industry. The project is "feasible in both...

$40m Timor gas project for Clough.
March 3, 2000... Engineering company Clough Ltd says it has won a A$40 million contract on the Bayu-Undan natural gas project being developed by Phillips Petroleum in the Timor Sea. The work, to be undertaken as a joint venture with the Norwegian company,...

SOUTH ASIA: In brief.
March 3, 2000... * New Delhi -- The International Finance Corporation (IFC), the World Bank's private lending arm, said it plans to increase its investments in Indian companies by as much as four-fold in the 12 months ending June. IFC plans to target...

India, China sign WTO pact.
March 3, 2000... Indian and Chinese trade negotiators have clinched a deal on China's entry to the World Trade Organisation (WTO) which is expected to help double bilateral trade in the next three years. The deal is also an important step as China attempts...

VSNL seeks portal to exploit 'Net.
March 3, 2000... Videsh Sanchar Nigam Ltd (VSNL), India's largest Internet service provider, plans to tie-up with a portal company as early as this month to focus on e-commerce. VSNL is talking to seven or eight companies which run Internet portals, or...

Eight in running for airport job.
March 3, 2000... Eight groups have submitted preliminary bids for the construction of an international airport in Hyderabad, capital of the southern Indian state of Andhra Pradesh. "The bidding process... has been a success with eight globally renowned...

Bond yields may reach new lows.
March 3, 2000... Anyone looking for signs of health in the world's second-most populous nation need look no further than the Indian bond market. The benchmark 10-year yield, now 10.53 per cent, may fall below 10 per cent this year, a level not seen since...

Sri Lanka seeks deficit cut.
March 3, 2000... Sri Lanka has announced new measures to reduce its high fiscal deficit and says it will cut its recurrent expenditure and use privatisation proceeds to retire public debt. President and Finance Minister Chandrika Kumaratunga projected a...

Shipper drops premier port.
March 3, 2000... A Malaysian liner has opted to stop calling at Bangladesh's main Chittagong port because of slow handling of vessels. "We will no (longer) send ships to Chittagong port where loading and unloading are often delayed beyond (an) acceptable...

India coy on interest rates.
March 3, 2000... India's central bank chief has repeated his upbeat view of the economy but is keeping markets in suspense over where interest rates are headed. Reserve Bank of India (RBI) Governor Bimal Jalan said India's growth was unprecedented and its...

South Asia drug use increasing.
March 3, 2000... South Asia's proximity to Afghanistan and Myanmar, the world's largest producers of opium, has led to a rapid rise in drug abuse in the region, according to a new report. The annual report of the United Nations-aided International...

Tokyo taxes traffic to ease congestion.
March 3, 2000... * Tokyo -- The Metropolitan Government of Tokyo plans to introduce road pricing, or tolls, for downtown city streets by 2003, the Asahi newspaper said without citing sources. The system would use non-stop toll collection technology, along the...

Regional recovery pushes up airfares.
March 3, 2000... Asia-Pacific airfares are expected to rise 4.5 per cent this year as economic recovery boosts demand, indicating that a discounting war that dented airline earnings continues to ease, a new survey has found. Increased demand will enable...

MARKETPLACE: In brief.
March 3, 2000... * Jakarta -- Under pressure from domestic retailers, the Indonesian government has said it will audit and evaluate the operations of foreign hypermarkets in the country. Foreign hypermarkets in Jakarta had caused a decline of 80 per cent in...

TNT bets on e-commerce.
March 3, 2000... TNT, a leader in global express distribution, logistics and international mail, expects its global e-commerce strategy to boost its business growth significantly. "The e-commerce-related business will be a billion dollar trade," said TNT...

GREA$E money.
March 3, 2000... BA'S eye on Asia 1999 Transparency International Bribe Payers Index RANK COUNTRY SCORE 1 Sweden 8.3 2 Australia 8.1 Canada 8.1 3 ...

ASIA WATCH.
March 3, 2000... Latest news from the region * Indonesia Indonesia will raise minimum wages by between 15 per cent and 55 per cent on April 1, the Jakarta Post reported, citing the Manpower Ministry. The biggest rise will be in Aceh, where the monthly...

Islamic leaders show way.
March 3, 2000... Bitter political battles are brewing between Malaysia's Mahathir Government and popular Islamic governments. GANESH SAHATHEVAN suggests that investors have little to fear from Islamic economic policies Some investors have been wary of the...

On-line retailing surges.
March 17, 2000... Asia's on-line retail market -- driven by Japan, South Korea and Australia -- is growing faster than the United States and should surge at least 150 per cent to top US$7 billion in 2000. On-line brokerage is the fastest-growing e-commerce...

Sydney, HK boost status as trade hub.
March 17, 2000... Sydney and Hong Kong have landed punches in the past month in the friendly" battle for supremacy as the Asia-Pacific region's financial headquarters. The World Bank's decision to open a regional office in Sydney has been hailed as a coup...

Indian budget lacks real bite.
March 17, 2000... In the weeks leading up to the release of the Indian government's 2000 budget, Finance Minister Yashwant Sinha talked tough -- sternly indicating it was time to "bite the bullet" as there were "no soft options" left for India. But after...

Travelling in a blink of an eye.
March 17, 2000... We all know that technology is quietly revolutionising the world of business travel. But imagine one day being able to sail through airport passport control points and avoid long queues worldwide with only the scan of an eye for...

ASIA FACT FILE.
March 17, 2000... Meat matters In this week's Fact File, we look at the number of livestock in Asia-Pacific countries. AUSTRALIA Cattle 26,710,000 Pigs 2,680,000 Chickens ...

Li shifts sights to China.
March 17, 2000... After grabbing Hong Kong's flagship phone company, Pacific Century CyberWorks Ltd is turning its sights on mainland China. But analysts say it faces a host of obstacles in that vast market. PCCW's pending US$38.1 billion takeover of Cable &...

Citibank trials first paperless trade.
March 17, 2000... The first full paperless trade transaction has been completed in Asia, using Citibank's breakthrough Bolero system. The complete trade required participants to complete more than 30 process steps over a three-week period. Citibank's...

News: In brief.
March 17, 2000... * Kuala Lumpur -- Malaysian Prime Minister Dr Mahathir Mohamad has called for an Asian regional fund to be set up to help rescue countries facing real financial problems. The fund should be subscribed to by all countries according to their...

The realities of retailing.
March 17, 2000... The Boston Consulting Group expects the Asia-Pacific's regional on-line market to grow at least 150 per cent to top US$7 billion in 2000 (see story page 1). Following are some conclusions drawn from its intensive research into on-line...

Ten tips.
March 17, 2000... Following are Boston Consulting Group Ups for e-retailers. 1. Concentrate on converting visitors to buyers. When consumers are "imprinted" they can be loyal. 2. Learn from your customers every day. Gain consumer insight and react...

Department stores forge to cut costs.
March 17, 2000... Recession-hit Japanese department store operators Takashimaya and Mitsukoshi have unveiled a wide-ranging tie-up aimed at cuffing costs to survive intensified competition. Although they will continue to operate their department stores...

Crunch time as rivals put Estrada to test.
March 17, 2000... Philippine President Joseph Estrada faces his toughest test to date as a market scandal over a stock that soared thousands of per cent before crashing looks set to sharpen the claws of the political opposition. Already embattled with a...

Wester China plays catchup.
March 17, 2000... Four provinces and one autonomous region in western China are investing heavily in infrastructure facilities in a bid to accelerate the anticipated upsurge of the region. The relatively backward infrastructure facilities in Sichuan,...

Sony's PlayStation gamble pays off.
March 17, 2000... Twelve-year-old Shingo Ashizawa can hardly wait. He'll soon be heading into central Tokyo with his mother to buy Sony Corp's new PlayStation 2 game machine and one of his favourite games, Streetfighter 3. "I've got Streetfighter on my...

Browser.
March 17, 2000... www.efic.gov.au The Export Finance and Insurance Corporation's website. The site has plenty of timely information on-hand, including EFIC's latest market gradings and an exporter's risk checklist Browsers can also fill in numerous EFIC...

INFORMATION TECHNOLOGY: In brief.
March 17, 2000... * Seoul - Yahoo! will invest US$60 million in Yahoo! Korea to help its affiliate get more aggressive through mergers and acquisitions and business investments in the Web market, cofounder Jerry Yang said. "We have reached a critical stage in...

IT jobs favoured.
March 17, 2000... Venture fever is catching fast among college students in influencing their choice of job career. Headhunter Job Vision Korea, in a survey of 2000 collegians nationwide, said 26.8 per cent wanted to start their career in the information...

IT a licence to print business: Lexmark.
March 17, 2000... Gary Morin envisages the day -- in the not-too-distant future -- when a scanner monitors his household refrigerator and prints out a shopping list. For a man whose business life revolves around printing, the concept is appealing. ...

Conference rise adds spice to hotel awards.
March 17, 2000... A booming conferences and conventions sector -- fuelled by an economic rebound throughout the region -- adds spice to this year's Best Business Hotels in Asia Awards. After a relatively quiet couple of years because of economic...

YEAR 2000 FINALISTS.
March 17, 2000... Following are the finalists in each category for the 2000 Best Business Hotels in Asia Awards. Australia * ANA Hotel Sydney * Hotel Sofitel Melbourne * Hyatt Regency Adelaide * Park Hyatt Sydney * The Regent Sydney...

Occupancy rate worry in Thailand.
March 17, 2000... International property consultant FPD Savills says the rising popularity of Thailand's southern tourist resorts of Phuket and Samui could open the way for new four- and five-star hotels. However, new supplies of luxurious hotel rooms in...

Travel news.
March 17, 2000... * Singapore -- The Sheraton Towers hotel in Singapore has installed in all 413 rooms a new ultra-high-speed Internet connection service to provide business travellers with access of up to 300 times faster than typical dial-up access. The hotel...

MANY MOUTHS.
March 17, 2000... Following are projected populations of select countries by the year 2050. COUNTRY Australia 25,761,000 China 1,477,730,000 India 1,528,853,000 Indonesia 311,857,000 Japan ...

`Bio-food' vital to feed Asia.
March 17, 2000... Protests by anti-biotechnology extremists must be ignored if the world is to accomplish the huge task of feeding billions more people over the coming decades, according to a former Nobel Peace Prize laureate. "Extreme environmental...

Vietnamese food tastes turn local.
March 17, 2000... Many State-owned and private food processing companies in Vietnam are stepping-up investments in modern production technology to capitalise on the growing preference of Vietnamese consumers for domestically produced, export-quality goods. ...

Food exporters losing world share.
March 17, 2000... Australia's exporters of processed food are losing their share of a global industry worth US$236 billion in 1998 due to trade barriers and a failure to understand their markets, a marketing analyst claims. Exports of processed foods from...

7-Eleven targeting the elderly.
March 17, 2000... Seven-Eleven Japan, Japan's biggest convenience-store chain, said it will start delivering meals and other products to the elderly -- the company's latest move to use its 8200 stores to expand into new businesses. Seven-Eleven will own 60...

SUPERMARKET TO ASIA: In brief.
March 17, 2000... * Hong Kong -- Starbucks Corp, the largest US specialty-coffee store retailer, says it plans to open its first stores in Hong Kong this year as part of its drive to expand in Asia. Seattle-based Starbucks will start opening Hong Kong outlets by...

Manila threatens beef ban.
March 17, 2000... Philippine meat processors and livestock raisers are preparing to boycott Australian cattle and meat products unless Canberra opens up its market to fruits and other agricultural products. The boycott threat, backed by the Department of...

Vote now to choose top businesses.
March 17, 2000... Voting is now open for the 2000 Business Asia News Magazine Awards. Readers are urged to cast their votes by filling in the voting coupon on the following page. In this edition of Business Asia, we will profile the finalists in the Best...

NT OIL & GAS: In brief.
March 17, 2000... * Darwin -- Magellan Petroleum is planning to step up its program in the Palm Valley gas field in the Northern Territory as it mulls proposals to drill additional wells in the field. The proposal is designed to accelerate deliveries of gas. To...

Moody's rates NT as stable.
March 17, 2000... Moody's Investors Service has labelled as "stable" the credit rating outlook for the Northern Territory, citing ongoing oil and gas projects as a fillip for the economy. In its annual review, the agency said the stable outlook reflected...

$5b gas deal opens new era.
March 17, 2000... A proposal for a A$5 billion Darwin-based synthesis gas generation project could be the catalyst for harnessing the vast natural gas resources of the Timor Sea, according to the Northern Territory's Minister for Resource Development Daryl...

Woodside looks north and beyond.
March 17, 2000... Woodside Petroleum says it will pursue gas markets in the Northern Territory and boost exploration spending in Australia and abroad as domestic oil and condensate fields move into decline. Woodside managing director John Akehurst said...

Tax change may stall exploration.
March 17, 2000... Australia's oil and natural gas companies will spend 13 per cent less on exploration and development in 2000 as concern about government policy offsets a near tripling in the cost of a barrel of oil over the past year. The Australian...

Internet rise lifts demand for executives.
March 17, 2000... Executive demand in Hong Kong continued its steady rise in January, helped by the on-going surge in Internet start-ups and growing confidence that an economic recovery is gaining steam. The traditional increase in demand ahead of Chinese...

Ins and Outs of Trade.
March 17, 2000... Asia's world trade in commercial services 1998 EXPORT WORLD IMPORT WORLD VALUE EXPORT VALUE IMPORT (US$b) SHARE % (US$b) SHARE % JAPAN 61.8 4.7 ...

China, Korea to drive ore sales.
March 17, 2000... * Canberra -- Growth in Chinese and South Korean markets is expected to drive demand for Australian iron ore. ABARE predicts Australian iron ore exports will increase 16 per cent to 175 million tonnes in 2004-05 primarily because of expanding...

GHD seals water deal with Manila.
March 17, 2000... Australian technology and expertise will play a key role in a multi-billion dollar scheme to provide Manila's population of 11 million with drinking water on tap. Maynilad Water Services, one of two concessionaires sharing the...