Business Asia articles from May 2000

Business Asia archives from May 2000

Asia to beat dotcom slump.(Internet stock slump will not stop Asian economic impetus)(Brief Article)
May 5, 2000... The Internet bubble might have burst, but Asia's "new economy" boom has only just begun and investors who ignore it do so at their peril, according to leading commentators. In the wake of the Nasdaq-inspired slump in hi-tech shares, Asian...

Business Asia about to start a new chapter.(Brief Article)
May 5, 2000... Business Asia is about to undergo the most significant change in its eight-year history. From June, the magazine will convert from its fortnightly format to a monthly magazine -- and the current tabloid layout will change to an oversized...

Power plants back on agenda.(Brief Article)
May 5, 2000... Demand for large power generators is slowly rising again in Asia, but a preference for steam-powered plants raises environmental concerns, according to an industry expert. ABB Alstom Power Australia and New Zealand managing director Mike...

In brief.(Brief Article)
May 5, 2000... * Seoul -- Samsung Motor's Korean creditors have accepted Renault's final offer of US$562 million for the car maker after a year of talks. Main creditor Hanvit Bank and 17 others agreed to Renault's offer, but will thrash out some conditions....

Labouring the point.(Brief Article)
May 5, 2000... This week's Fact File compares the labour cost per worker in manufacturing in 1980-84 with costs in 1995-99. All figures are in US$. AUSTRALIA 1980-84 $14,749 1995-99 $26,087 CHINA 1980-84 $472...

No new offer: CyberWorks.(Brief Article)
May 5, 2000... Pacific Century CyberWorks, which is building Asia's biggest Internet business, says it will not raise its offer for Cable & Wireless HKT -- even after the value of its bid fell by a third and sparked reports of the revival of a rival bid. ...

Glory days are over: survey.(Brief Article)
May 5, 2000... Asia's days of rapid growth as experienced in the 1990s are well and truly over, with a new report by BIS Shrapnel forecasting more sedate growth in the first decade of the new millennium for Asia's tigers. Although the Asian economies are...

Philippines, China seize global era.(Brief Article)
May 5, 2000... The Philippines and China are among a group of five countries most rapidly integrating into the global economic environment, according to a new survey by A.T. Kearney. Based on an index created by the AT. Kearney Global Business Policy...

SIA raises the stakes.(Brief Article)
May 5, 2000... Singapore Airlines has announced a long-awaited deal to bring its stake in Air New Zealand to 25 per cent, adding it had asked the New Zealand government for permission to raise it to 40 per cent. Officials of the Singapore national carrier...

Concept of `saving face' on the nose: Professor.(Brief Article)
May 5, 2000... South East Asian bureaucrats and politicians have conveniently used the concepts of cultural sensitivity and "saving face" to insulate themselves from outside scrutiny, according to a leading commentator on the region. Professor Richard...

The world at a glance.(Brief Article)
May 5, 2000... Following are some facts and figures from the World Development Indicators 2000. * In 1998, 1.2 billion people (1 billion excluding China)lived on less than a US$1 a day -- 24 per cent of the population of the developing world. And 2.8...

Japan still rich, China on rise.(Brief Article)
May 5, 2000... A sixth of the world's population -- primarily the people of North America, Europe and Japan -- receive nearly 80 per cent of world income, according to a new World Bank report. The World Development Indicators 2000 (WDI), the World Bank's...

Hi-tech firms, SMEs have the final word.(Brief Article)
May 5, 2000... With voting set to close in the 2000 Business Asia Awards, we look at the last two categories-Best Australian E-Commerce Activity in Asia and Best Australian SME Business Activity in Asia Best Australian E-commerce Initiative in Asia ...

Travel briefs.(Brief Article)
May 5, 2000... * Sydney -- Ever wanted to fly on the Concorde? Passengers departing Australia for London or Europe are being offered the chance to upgrade to Concorde by British Airways. The upgrade cost is A$999 (US$602) and the offer is valid only until May...

Family first for flyers.(Brief Article)
May 5, 2000... Most business travellers say they have refused to go on a business trip because it conflicted with their children's activities. In the study, conducted by Sheraton Hotels & Resorts, 67 per cent of parents said they had refused business...

New site for travel in China.(Internet/Web/Online Service Information)(Brief Article)
May 5, 2000... Itravel, a joint venture between tom.com Ltd and China Travel Network Co Ltd, will launch a travel-related portal to tap the China market on-line. GoChinaGo.com, the new portal, will offer services including accommodation and ticket...

Profit returns to Shangri-La as Asia booms.(Brief Article)
May 5, 2000... Hotel group Shangri-La Asia Ltd says it has rediscovered the earthly paradise of growing profits, thanks to Asia's economic recovery and rebounding consumer demand. Net earnings in 1999 jumped 30 per cent to US$67.27 million from 1998's...

Website cuts food export barriers.(International Pages)(Internet/Web/Online Service Information)(Brief Article)
May 5, 2000... A new e-commerce site for the marketing of food products in Australia and globally has been jointly launched by Telstra and the Prime Minister's Supermarket to Asia Council. The initiative, called FoodConnect Australia, will enable...

Good times for Japan's `conbinis'.(International Pages)(Brief Article)
May 5, 2000... Takeyuki Ikezaki, a 21-year-old Japanese college student, got a dose of culture shock on a recent trip to the United States. "My friends and I went to a convenience store late at night but it was closed," he said. "I couldn't believe it."...

Internet censors need a rethink: AOL.(Internet/Web/Online Service Information)(Brief Article)
May 5, 2000... Communist Vietnam, China and even the United States government should think again if they believed they could censor the Internet, the founder of America Online Inc said. "I think Vietnam, China and others that are trying to control the...

SingTel move heralds change.(International Pages)(Brief Article)
May 5, 2000... Singapore Telecommunications Ltd's proposed move into neighbouring Malaysia signals a policy shift by Kuala Lumpur long wary of Singapore investments in strategic sectors. Some analysts said the Singapore government-owned SingTel's...

Amway set to ride Malay comeback.(International Pages)(Brief Article)
May 5, 2000... Chan Lee Sean pulled in almost US$8 million for Amway's Malaysian arm last year, and this year she's helping drive the company toward record sales. Not bad for a former housewife who decided more than 20 years ago to earn some spending...

Sea Freight in Asia: In brief.(International Pages)(Brief Article)
May 5, 2000... * Seoul -- South Korea's Hanjin Shipping Co has launched an information and telecommunications unit the company says will provide an Internet-supported logistics service. The carrier said its CyberLogitec unit signed a business alliance with...

Piracy plagues shipping.(International Pages)(Brief Article)
May 5, 2000... A kidnapping crisis in the southern Philippines last month has thrown the spotlight on the growing problem of piracy in Asian waters, delegates at an international maritime conference have heard. Maritime authorities from 15 countries --...

Sabah state no stranger to pirates.(International Pages)(Brief Article)
May 5, 2000... The scenic eastern coast of Malaysia's Sabah state, where heavily armed gunmen took 20 people hostage last month, is a favourite hunting ground for pirates roaming South East Asia. Malaysian authorities said 10 foreigners were among those...

Ports battle urban sprawl.(Australia)(Brief Article)
May 5, 2000... The nation's ports are having to juggle their booming billion-dollar business with the demands of increasingly noisy neighbours. Australian ports are bracing themselves for a new waterfront battle. Unlike the industrial disputes of the...

PSA profits increase as region rises.(Brief Article)
May 5, 2000... PSA Corp, the Singapore port operator that runs the world's busiest container terminal, said 1999 profit rose as Asian economies revived. The company recast its earnings period to match the calendar year. In 1999, the company's profit rose...

Container traffic picks up.(exports from Asia to the United States)(Brief Article)(Statistical Data Included)
May 5, 2000... US demand fuels freight rise Container cargo traffic in Asia continues to rise, buoyed by strong United States demand for Asia's manufactured products and improved intra-trade between Asian countries. According to the Transpacific...

Asia's elite hotels the best of the best.
May 5, 2000... Asia's hotels are among the finest in the world. In this edition we profile the finalists from Australia, China and Hong Kong for the Best Business Hotels in Asia Awards AUSTRALIA ANA Hotel Sydney Located in the historic Rocks...

Big businesses turn to syndicated loans.(Asia)(Brief Article)
May 5, 2000... The syndicated bank loan market in Asia is fast returning to popularity among Asia's companies searching for cash to refinance debt or raise money for mergers and acquisitions. But analysts say that since the region's financial crisis, the...

Australian art group scores coup.(Asialink Arts attends Korean art festival)(Brief Article)
May 5, 2000... Melbourne-based Asialink Arts has scored an artistic coup, with the organisation being invited to the opening of a prestigious Korean arts festival. Asialink arts program director Alison Carroll attended the Kwangju Biennale 2000 opening...

BHP launches a new colour sheet in China.(Asian business and industry briefs)(Brief Article)
May 5, 2000... * Shanghai -- Australia's BHP has launched its latest aluminium-coated and galvanised colour-washed sheet in China. The company has also opened sales firms in Shanghai and Tianjin. Chinese demand for colour-washed sheet is about 500,000 tonnes...

Australia, India vow to boost trade ties.(Brief Article)
May 5, 2000... India and Australia have decided to intensify efforts to expand direct investment and strengthen economic cooperation in a range of areas including energy, mining, information technology, textiles, infrastructure development and food...

ON THE RISE.(gross domestic product statistics of Asian countries)(Brief Article)(Illustration)(Statistical Data Included)
May 5, 2000... Asia-Pacific Growth Rates, Real GDP 2000 2001 2000-2010 10yr avg. China 7.0 7.0 6.5 Hong Kong ...

ASIA WATCH.(news briefs from the region)(Brief Article)
May 5, 2000... Latest news from the region * Indonesia Indonesia's President Abdurrahman Wahid swore in new trade and investment ministers amid concerns a political crisis was deepening in the world's fourth-most-populous country. Wahid loyalist Rozy...

Sitting Pretty in Asia?(Telstra, Pacific Century CyberWorks alliance)(Brief Article)
May 5, 2000... Telstra's has trumpeted its alliance with Pacific Century CyberWorks as a crucial component of its global expansion plans. CAMERON COOPER comments on a deal of high promise -- but one which may have hit a snag Is it the telecommunications...

Investors queue, tourists flee.(Brief Article)
May 19, 2000... Just as hi-tech stocks have crashed in Asia, overseas investors are being urged to look for "value" in the region. And just as tourism operators in South East Asia were tipping a boom, foreign travellers have been cancelling trips en masse....

... And Dr Doom warns of `profit killer'.(Brief Article)
May 19, 2000... Hong Kong-based stock market guru Marc Faber -- known as Dr Doom -- says the Internet could be a "profit killer" for old economy companies. Faber, who is managing director of Marc Faber Ltd and the author of "The Gloom, Doom and Boom"...

Get the `new' Business Asia.(Brief Article)
May 19, 2000... This is the final edition of Business Asia in its current format. After seven years as a fortnightly tabloid, the magazine will convert to a monthly, oversized A4 style from June. Exciting new designs are in place and readers can expect...

Air cargo rivalry heats up.(Brief Article)
May 19, 2000... Taipei and Shanghai are long-term challengers to Hong Kong as the pre-eminent air cargo hub in Asia, according to a new study. The report, compiled by consultant David Dodwell of Forrest International and Professor Zhang Anming of the...

In brief.(Brief Article)
May 19, 2000... * Seoul -- The Korea Stock Exchange (KSE) will allow the free trading of foreign stocks from June, KSE authorities say. Foreign companies can list on the exchange either through depositary receipts (DRs) or shares. Although they are allowed to...

Australia a `friend', says Thai minister.(Brief Article)
May 19, 2000... Australia has a healthy relationship with its northern neighbours and should disregard comments it is unwelcome in Asia, according to Thai Foreign Affairs Minister Surin Pitsuwan. His comments follow the decision late last month by...

Ford counts on huge pick-up in car sector.(Brief Article)
May 19, 2000... Ford Motor expects the motor vehicle industry in South East Asia to return to its "heyday" in the next few years. Ford said this month it expected auto sales in Association of South East Asian Nations (ASEAN) countries to rise to 1.5...

Crash course.(Brief Article)
May 19, 2000... In this week's Fact File, we examine the number of people injured or killed in traffic accidents per 1000 vehicles in the Asia-Pacific region. AUSTRALIA 1980 5 1998 na CHINA 1980 ...

Access dubs WA a new `tiger'.(Brief Article)
May 19, 2000... Western Australia (WA) is set to become the region's new economic tiger, according to economic forecaster Access Economics. Access predicts 7 per cent economic growth for WA in the 1999-2000 financial year, fuelled by surging exports and...

Alliance strategy pays off as Worley targets China.(Brief Article)
May 19, 2000... If you mention China and business in the same sentence, many global chief executives will have heart palpitations. John Grill, the chief executive of Worley Limited, is not one of them. Worley, Australia's largest engineering business,...

Lucent takes care of business in Asia.(Craig Dower of Lucent Technologies)
May 19, 2000... Lucent Technologies wants to help build the next wave of the Internet. CAMERON COOPER speaks to one of the architects of that strategy For a marketing man who wants to sell the virtues of Lucent Technologies to the huge Asian market, Craig...

Progressive banks queuing up to go on-line.(in Asia)(Brief Article)
May 19, 2000... Asian banks are racing to get their services on-line - and some are even setting up independent Internet banks. Asia's tech-savvy depositors are already able to carry out a range of banking transactions via the Internet. Now, some...

Comic star has pollies over a barrel.(Ryusuke Kaji)(Brief Article)
May 19, 2000... Are you sick of politicians? Well, the Japanese are, too. ELAINE LIES reports from Tokyo that a comic book hero is providing the inspiration for changes to the political order in Japan Japanese politician Ryusuke Kaji is young, handsome and...

Hard times for soft-selling `insurance ladies'.(Brief Article)
May 19, 2000... Every morning, Tamae Nakajima leaves her small apartment outside Tokyo, picks up a bag of sales materials at a Meiji Life Insurance Co office and sets off. For the next nine or 10 hours, she will call on friends, relatives and employees of...

Red tape hinders Indian IT.(information technology)(Brief Article)
May 19, 2000... India's IT sector could bring in US$5 billion in foreign investment by 2008 -- more than the whole economy attracted in 1998 -- if government red tape is removed and a clunky telecommunications sector is reformed, a new study has found. A...

Vaile vows to drive free trade.(Mark Vaile, Australian trade minister)(Brief Article)
May 19, 2000... The Australian Government will this year place a greater emphasis on creating a free-trade area between ASEAN members and Australasia, Trade Minister Mark Vaile says. Vaile, who was speaking at the launch of the 2000 Australian Export...

Award victors show the way in Asia.
May 19, 2000... The elite Asia-Pacific business brands are driving Asia's rebound as they pursue aggressive new expansion campaigns. The winners of this year's Business Asia News Magazine Awards underline the commitment to the region that has seen most...

Winning wines swell profits for Southcorp.(Brief Article)(Statistical Data Included)
May 19, 2000... Best Australian Large Business Activity in Asia Southcorp, Australia's No. 1 maker of wine, continues to surge on the back of the world's growing appetite for Australian wine. The diversified manufacturer's first-half profits rose 14...

Citigroup on the prowl in region.(Asia)(Brief Article)
May 19, 2000... The Sponsor Citigroup, fresh from a big acquisition in Taiwan, is bullish on Asia and is looking to do more deals both in banking and insurance. Speaking during the annual meeting of the Asian Development Bank this month, senior...

UNSW promotes diverse culture.(University of New South Wales)(Brief Article)
May 19, 2000... Best Australian Service Activity in Asia Australia's most multicultural university has taken out this year's Business Asia award for Best Australian Service Activity in Asia. About 40 per cent of students (equal to 12,400 people) at...

Resurgent Cathay takes top prize.(Cathay Pacific Airways)(Brief Article)
May 19, 2000... Best Asian Business Activity in Australia Asia's increasingly speedy recovery has led Cathay Pacific Airways into one of the biggest expansion phases in the carrier's history. Cathay -- Hong Kong's only long-haul airline -- will buy...

Total Concept in close race.(Total Concept Australia)(Brief Article)
May 19, 2000... Best Australian SME Activity in Asia In another close race typical of this year's Business Asia Awards, Total Concept Australia has taken out the Best Australian SME Business Activity in Asia category. Total Concept beat out tough...

Smart business sees ERG hit paydirt in Asia.(Brief Article)
May 19, 2000... Best Use of Australian Technology in Asia Perth-based ERG Group has narrowly beaten its competitors to win the Best Use of Australian Technology in Asia category in this year's Business Asia Awards. ERG, which faced tough competition...

Melbourne-based winner mixes in high society.(Brief Article)
May 19, 2000... Best Contribution to Australia-Asia Business Ties An examination of the Asia Society AustralAsia Centre's events for May demonstrates the diversity of the organisation's efforts to promote regional awareness. The Asia Society calendar...

Human Nature charts winning course.(music group)(Brief Article)
May 19, 2000... Outstanding Achievement in the Arts and Entertainment Industry With album sales surpassing 130,000 units in Asia alone, Human Nature has firmly made its mark on the region's pop music scene. Toby Allen, Phil Burton, Andrew Tierney and...

The judges.(Brief Article)
May 19, 2000... Finalists in the Business Asia Awards were chosen by a group of industry experts. The judges selected finalists from a nominees' list of about 100 companies or people. Readers were then asked to vote for their preferred candidate in...

Smart moves pay off for Keycorp.(Brief Article)
May 19, 2000... Best Australian E-Commerce Initiative in Asia Keycorp Limited has its sights firmly set on global expansion. The company, this year's winner of the Best Australian E-commerce Initiative in Asia category, recently realigned itself into...

Finalists go on show.
May 19, 2000... In this edition we profile the finalists from Indonesia, Japan and Malaysia as part of the Best Business Hotels in Asia Awards INDONESIA Grand Hyatt Jakarta On top of great business services, the Grand Hyatt Jakarta also gives its...

Rooms start to fill up in Malaysian hotels.(Brief Article)(Statistical Data Included)
May 19, 2000... The hotel industry in Kuala Lumpur has been cheered by first-quarter figures showing average occupancy rates have risen to between 65 and 70 per cent. A report by the National Property Information Centre (NAPIC) reveals positive news for...

E-mail virus a case of love gone wrong.(Brief Article)
May 19, 2000... The 23-year-old Filipino college student at the heart of the world's most toxic computer virus is looking for work -- as a programmer. Onel de Guzman, speaking for the first time since the "Love Bug" virus raced around the world, declined...

PEG aiming to improve its profile.(Brief Article)
May 19, 2000... E-commerce and point-of-sale software developer PEG technology has launched a US$7 million initial public offer to raise its profile in Australian and international markets. Under the move, PEG will offer 24 million shares at a price of 50...

Australia, North Korea renew ties.(Brief Article)
May 19, 2000... * Canberra -- North Korea and Australia have agreed to normalise ties following a 25-year freeze, reflecting efforts by the Stalinist state to break out of its diplomatic isolation. The countries formally established diplomatic ties in 1974 but...

US still the most competitive on global scorecard.(Brief Article)
May 19, 2000... The United States has maintained its lead over second-placed Singapore as the world's most competitive economy, helped by new technologies, according to a study by Swiss management school IMD. The US ranks first for the third consecutive...

Timber substitute in strong demand.(Asian medium density fibreboard market)(Brief Article)
May 19, 2000... The glut in the US$3.1 billion market for the timber substitute, medium density fibreboard (MDF), will be rapidly swallowed up as demand outstrips supply possibly as early as this year, says a new study. BIS Shrapnel Forestry Group's...

ASIAWATCH.(Brief Article)
May 19, 2000... Latest news from the region * South Korea North Korea has agreed to open its air space to South Korea for the first time in half a century to allow President Kim Dae Jung to travel to the landmark summit in Pyongyang, Agence...

A tale of the two Koreas.
May 19, 2000... Can Seoul and Pyongyang really settle their differences and reunite the two Koreas? CAMERON COOPER comments on the significance of upcoming talks between the leaders from the North and South Kim Jong Il can supposedly write music to rival...

Asia's monetary pact a `work in progress'.(Brief Article)
May 19, 2000... In approving plans for closer monetary ties, Asian governments are painting with bold strokes on a big canvas. But the project remains abstract, with the final picture very much in the eyes of the beholder. One thing is clear. For the...

Risks in the wind, but outlook strong.(Asian economic recovery)(Brief Article)
May 19, 2000... Higher US interest rates are a worry, but PAUL BRENNAN(*) suggests Asia's strong rebound will continue Helped by a recovery in capital inflows, robust US demand and the production rebound in information technology, the recovery in Asia...