AsiaPulse News articles from August 2003

AsiaPulse News archives from August 2003

STOCKS - DSE TRADELESS - AUGUST 1, 2003.
August 1, 2003... NEW DELHI, Aug 1 Asia Pulse - The Delhi Stock Exchange (DSE) remained tradeless today with most of the market players executing their transactions on other leading bourses for their better liquidity. The DSE authorities decided not to issue...

STOCKS - BSE CLOSES UP - AUGUST 1, 2003.
August 1, 2003... MUMBAI, Aug 1 Asia Pulse - Led by cement and IT sectors, stocks rallied smartly aiding the sensex to extend its winning streak to 8th straight session on the Bombay Stock Exchange today on fresh purchases by Foreign Institutional Investors as...

FOREX - US DOLLAR DEARER AGAINST RUPEE - AUGUST 1, 2003.
August 1, 2003... MUMBAI, AUG 01 Asia Pulse - The U.S.Dollar ended further dearer against the Rupee at Rs 46.1750 per dollar but the Pound Sterling turned cheaper at Rs 74.02 per pound at the close of the Interbank Foreign Exchange (FOREX) Market here today. ...

FOREX - AUSTRALIAN DOLLAR OPENS LOWER - AUG 1, 2003.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - The Australian dollar slipped below US$0.6500 overnight as a triple shot of positive economic data put a spring in the step of the United States dollar. At 0700 AEST the Australian dollar was trading at...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH: - Delta Goodrem wins 4 ARIA awards. Sydney facing child care crisis after regulations shelved for extra 12 months. - Bali bomber Amrozi sang for...

GEN-PROBE REPORTS SECOND QUARTER 2003 FINANCIAL RESULTS.
August 1, 2003... (For a full text of statement, contact www.asianet.com.au) SAN DIEGO, Calif., July 31 /PRNewswire-FirstCall-AsiaNet/ -- Record Revenues and Profits Fueled by Increase in All Major Categories of Revenue Gen-Probe Incorporated...

SELECTICA ANNOUNCES FIRST QUARTER FISCAL 2004 RESULTS.
August 1, 2003... (For a full text of statement, contact www.asianet.com.au) SAN JOSE, Calif., Aug. 1 /PRNewswire-FirstCall-AsiaNet/ -- Selectica, Inc. (Nasdaq: SLTC), a leading provider of Interactive Selling Systems (ISS) for e-Business, today...

JAPAN URGED TO ALLOW TOURISTS FROM TAIWAN VISA-FREE STAY.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - Taiwan President Chen Shui-bian has expressed the hope that Japan will allow tourists from Taiwan to stay in Japan for at least two weeks without a visa. He told Takahashi Masaje, the newly appointed...

SOUTHERN TAIWAN FREE FROM THREAT OF WATER SHORTAGE.
August 1, 2003... KAOHSIUNG, Aug 1 Asia Pulse - Although there is an increased threat of a possible drought in northern Taiwan, southern regions are not facing water shortages, thanks to recent torrential rains in mountainous areas, officials said yesterday. ...

MAJOR INVESTMENT PROJECTS IN TAIWAN TOTAL US$11.4 BLN IN H1.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - Minister of Economic Affairs Lin Yi-fu yesterday said major investment projects in the first half of the year totaled NT$398.3 billion (US$11.54 billion), or 54.89 per cent of the year's goal. Lin made the...

CHINA STEEL SHARES MAY ONLY BENEFIT CONGLOMERATES: LAWMAKERS.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - Lawmakers yesterday alleged that the government's plan to privatize state-run enterprises has been designed in such a way that only specific conglomerates will benefit. Independent Legislator Sisy Chen said at a...

SI-SOFT R&D CENTER INAUGURATED IN NORTHERN TAIWAN.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - A Si-Soft research and development center was yesterday inaugurated in the Hsinchu Science-based Industrial Park in Hsinchu City, northern Taiwan. Presiding over the inauguration, Premier Yu Shyi-kun said the...

DPP LAWMAKER TOUTS FOR TAICHUNG FREE TRADE PORT ZONE.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - A lawmaker of the ruling Democratic Progressive Party (DPP) yesterday called for the establishment of a Taichung Port Free Trade Zone, saying that various key elements for such a proposal are now mature. Hsieh...

TAIEX TO FORM ALLIANCE WITH SOUTH AFRICAN COUNTERPART.
August 1, 2003... TAIPEI, Aug 1 Asia Pulse - The Taiwan Stock Exchange (TAIEX) has recently signed a memorandum of understanding (MOU) with the Johannesburg Stock Exchange (JSE) of South Africa to increase cooperation between the two bourses, TAIEX officials...

SINGAPORE GOVT SHOWS SUPPORT FOR CORPORATE RESPONSIBILITY.
August 1, 2003... (Full text of a statement. Contact details below.) LONDON, Aug. 1 /news aktuell-AsiaNet/ -- Singapore's Minister of State for Trade and Industry, Raymond Lim, will open the first Ethical Corporation Asia Conference in Singapore on...

WATER PUMP CONTRACT AWARDED TO BORGWARNER THERMAL SYSTEMS JV.
August 1, 2003... (Full text of a statement. Contact details below.) AUBURN HILLS, Mich., July 31 /PRNewswire-AsiaNet/ -- The BorgWarner Shenglong manufacturing facility, located in Ningbo, China, is now supplying a water pump to the Ford Engine Plant in...

ANHEUSER-BUSCH MAINTAINS RIGHTS TO BUDWEISER TRADEMARK IN JAPAN.
August 1, 2003... (Full text of a statement. Contact details below.) ST. LOUIS, July 31 /PRNewswire-AsiaNet/ -- The following statement is attributed to Stephen Burrows, Chief Executive Officer and President of Anheuser-Busch International, Inc. (NYSE:...

PASSENGER NUMBERS AT SYDNEY AIRPORT TO TREBLE IN NEXT 20 YEARS.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - Passenger numbers at Sydney Airport would triple in the next 20 years but there would be no new runways or changes to flight paths under planned expansion, airport executives said today. Sydney Airport...

INDIAN OIL CORP REGISTERS 51.5 PCT INCREASE IN Q1 NET PROFIT.
August 1, 2003... NEW DELHI, Aug 1 Asia Pulse - Indian Oil Corporation (BSE:IOC) yesterday said its net profit surged 51.5 per cent for the June quarter to Rs 9446.70 million (US$204.5 million), from Rs 6249.90 million in the same period in the previous year....

DATA ACESS IN TALKS FOR INDIA/MIDDLE EAST/EUROPE CABLE PROJECT.
August 1, 2003... NEW DELHI, Aug 1 Asia Pulse - The New Delhi-based International Long Distance operator Data Access is in advanced stages of talks with global telecom majors for a submarine cable whicg would connect India, Middle East and Europe, the total cost...

INDIA'S INFOSYS TECHNOLOGIES PRICES SPONSORED ADS ON NASDAQ.
August 1, 2003... BANGALORE, Aug 1 Asia Pulse - The Bangalore-based global technology services firm Infosys Technologies Ltd (BSE:INFY) yesterday priced Sponsored American Depository Shares (ADS) on the NASDAQ. Infosys said in a press statement that its...

PHILIPPINE NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... MANILA, Aug 1 Asia Pulse - Highlights of today's newspapers: THE MANILA TIMES: - The government expects the biggest rate of increase in its revenues for next year to come from income sources other than the Bureaus of Internal Revenue...

AUSTRALIA'S REGIONAL EXPRESS OFFERS A$1 FARES.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Local carrier Regional Express is celebrating its first birthday by offering $A1 ($US.65) fares out of regional centres. A year ago the Australiawide consortium bought former Ansett subsidiaries Hazelton and...

CHINESE DELEGATION TO ATTEND PAKISTAN COPPER PROJECT CEREMONY.
August 1, 2003... ISLAMABAD, Aug 1 Asia Pulse - A Chinese delegation will visit Pakistan to attend the "production ceremony" of the Saindak copper project, which is likely to take place on August 7. This was stated by an official of the China Metallurgical...

MAURITIUS LIFTS MORATORIUM ON PAKISTANI RICE IMPORTS.
August 1, 2003... KARACHI, Aug 1 Asia Pulse - Mauritius has lifted a moratorium on import of rice from Pakistan and the State Trading Corporation (STC) has contracted with a local leading exporter to export 20,000 tonnes of Irri-6. The restriction on import...

HONG KONG FIRM SHOWS INTEREST IN COAL IMPORTS FROM PAKISTAN.
August 1, 2003... KARACHI, Aug 1 Asia Pulse - Hong Kong firm Noble Energy is ready to become a major importer of coal from Pakistan provided there are strong assurances of sound business partners and availability of infrastructure, such as port facilities for...

STOCKS - KOREAN SHARES OPEN HIGHER - AUG 1, 2003.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - South Korean shares began stronger on foreign buying Friday. The Korea Composite Stock Price Index, the barometer of the Korea Stock Exchange, opened 5.32 points, or 0.75 per cent, higher at 718.84. The...

BIDDING FOR SELLOFF OF PAKISTAN'S THATTA CEMENT ON AUG 28.
August 1, 2003... ISLAMABAD, Aug 1 Asia Pulse - The Privatization Commission has announced fresh bidding schedule for Thatta Cement Company Limited, which was earlier scheduled on July 26, and postponed on the request of the prospective bidders. According...

STATE BANK OF PAKISTAN CUTS EXPORT FINANCE RATE TO 3 PCT.
August 1, 2003... KARACHI, Aug 1 Asia Pulse - Exporters will receive export financing from banks at three per cent in August after the State Bank cut the refinance rate by half a percentage point to 1.5 per cent. The State Bank announced that it would give...

STOCKS - AUSTRALIAN SHARES OPEN HIGHER - AUG 1, 2003.
August 1, 2003... MELBOURNE, Aug 1 Asia Pulse - The Australian sharemarket continued to build on the 10 month high it hit yesterday with further gains across the board today. The benchmark S&P/ASX 200 index improved 9.1 points to 3131.4 by 1011 AEST while...

DOWNSTREAM GLASS INDUSTRY SUPPORTS ASAHI GLASS PHILIPPINES.
August 1, 2003... MANILA, Aug 1 Asia Pulse - Downstream glass producers and traders have rallied behind the petition of Asahi Glass Philippines Inc. AGP) for the imposition of safeguard measures against imported figured glass and glass mirrors. In a letter...

KOREAN NEWSPAPER HIGHLIGHTS - AUG. 1, 2003.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - Highlights of today's newspapers: Kyunghyang Daily News - NK agrees to six-party talks Kukmin Daily - Foreign workers to be allowed to stay on Korea Daily News - Law adopted to allow foreign...

PAKISTANI EXPORTERS SELL PROCEEDS IN ADVANCE IN PAST FISCAL YEAR.
August 1, 2003... KARACHI, Aug 1 Asia Pulse - Exporters did not hold back export bills in the past fiscal year as the rupee gained 3.6 per cent against the US dollar. Instead they discounted the bills or realized the export proceeds in advance to get the...

RIO TINTO POSTS 9 PCT FALL IN INTERIM NET PROFIT TO US$641 MLN.
August 1, 2003... MELBOURNE, Aug 1 Asia Pulse - Rio Tinto Ltd (ASX:RIO) disappointed the market yesterday with a nine per cent drop in first half earnings, the group blaming flat demand and a weaker US dollar for dragging down the bottom line. The...

WESTPAC BANKING FORECASTS 6-10% NET CASH EARNINGS GROWTH.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - Westpac Banking Corp Ltd (ASX:WBC) shares posted healthy gains yesterday, after the bank pleased investors with an upbeat profit outlook. In a briefing to analysts, the bank forecast 6-10 per cent growth in net...

FOREX - KOREAN WON OPENS LOWER AGAINST DOLLAR - AUG 1, 2003.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - The South Korean won started lower against the dollar Friday on the yen's weakness against the greenback. The local currency began at 1,180 won to the dollar, down 0.30 won from Thursday. The won tends to move in...

SOUTH KOREA'S CRUDE OIL IMPORTS FALL TO FIVE-YEAR LOW.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - South Korea's crude oil imports in the first half declined to their lowest mark in five years due to a steep contraction in domestic energy demand, a government agency reported Friday. The Korea National Oil Corp....

THAI NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... BANGKOK, Aug 1 Asia Pulse - Highlights of today's newspapers: THE BANGKOK POST: - Sahaviriya Steel Industries Plc (SSI) is preparing to refinance the balance of its long-term debts worth 12 billion baht by borrowing new loans at lower...

KOREAN BANKS MOVE TO CUT BACK ON LENDING TO COMPANIES AMID SLUMP.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - South Korean banks are poised to cut their lending to corporate borrowers or step up loan-screening procedures as a long-running economic slump has raised default risks, banking sources said Friday. The tightening...

NZ'S TRANZRAIL REJECTS TOLL HOLDINGS TAKEOVER BID.
August 1, 2003... MELBOURNE, Aug 1 Asia Pulse - Australian logistics firm Toll Holdings Ltd (ASX:TOL) has again refused to alter its $A178.5 million (US$115.7 million) takeover bid for Tranz Rail after it was rejected by the New Zealand rail, road and ferry...

AUSTRALIAN PM MAY HELP TO PUSH THROUGH HEALTH REFORMS.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Australian Prime Minister, John Howard, may be forced to deal with the impasse between federal Health Minister Kay Patterson and the states over hospital funding. The federal government has offered the states...

AUSTRALIAN SCIENTISTS DRAFT PLAN TO SAVE NATION'S RIVERS.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Australians could pay more for their food, while cities would cut their use of water by a quarter, under plans revealed today to save the nation's rivers. The Wentworth Group of scientists, in their blueprint...

KOREA'S KT POSTS FIRST HALF SALES OF US$5.01 BLN.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - KT Corp. (KSE:30200) recorded sales of 5.918 trillion won (US$5.01 billion) in the first half of this year, company sources said Friday. The largest fixed-line operator also saw its operational and net profits...

SPIRITS INDUSTRY QUESTIONS AUSTRALIAN ALCOHOL TAXES.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - Australian spirit drinkers will be stung by another price rise from tomorrow, prompting an industry body to call for an inquiry into the nation's alcohol taxation system. From tomorrow, spirits drinkers will be...

SOUTH KOREA'S TEXTILE TRADE SURPLUS FALLS 7.4 PCT IN H1.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - South Korea's textile trade surplus decreased by 7.4 per cent in the first half of the year, compared with the same period in the prior year, the Korea Federation of Textile Industries said today. Exports fell 2.0...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - Nissan, Renault To Jointly Develop 6 Engines By 2010 - N Korea Agrees To Hold Six-Nation Talks: Russia - N Korea Reportedly...

SOUTH KOREAN SCREEN QUOTA SYSTEM LIMITING COMPETITION: FTC.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - A booklet by the Fair Trade Commission (FTC) designed to educate local government officials has been found to describe South Korea's screen quota system as inhibiting free competition. The material made public...

MALAYSIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... KUALA LUMPUR, Aug 1 Asia Pulse - Highlights of today's newspapers: THE STAR: - Financial planners, seen as an important group of professionals in the banking landscape of the future, are likely to require licensing as investment...

PHILIPPINE OUTPUT, INFLATION WITHSTAND IMPACT OF COUP ATTEMPT.
August 1, 2003... MANILA, Aug 1 Asia Pulse - The July 27 coup attempt will have very little impact on the Philippine economy, the policy-making body of the Bangko Sentral ng Pilipinas (BSP) said yesterday. In fact, the MB is optimistic that inflation will...

TOYOTA GROUP NET PROFIT CALCULATED UNDER U.S. METHOD UP 35%.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Toyota Motor Co.'s (TSE:7203) group net profit totaled 750.9 billion yen (US$6.23 billion), up 35 per cent, in fiscal 2002 under the U.S. accounting method, compared with 944.6 billion yen, up 53 per cent, when...

SUMITOMO TO RESUME LARGE POWER PLANT PROJECT IN INDONESIA.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Sumitomo Corp. (TSE:8053) yesterday announced that it will resume a project to build a large, coal-fired power plant in Indonesia that was shelved in 1998 due to the Asian financial crisis. The company also said...

MARC REAFFIRMS RATING OF MALAYSIA'S IJM CORP.
August 1, 2003... KUALA LUMPUR, Aug 1 Asia Pulse - Malaysian Rating Corporation Berhad (MARC) has reaffirmed the A rating of IJM Corporation Berhad's (KLSE:IJMS) RM150 million (US$39.47 million) nominal value of 5 per cent redeemable unsecured bonds. It...

JAPAN'S NIPPON PAPER TO SELL DISSOLVING PULP OVERSEAS.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Nippon Unipac Holding (TSE:3893) unit Nippon Paper Industries Co. plans to launch overseas sales of dissolving pulp, a material used in making rayon. Nippon Paper Chemicals Co., a subsidiary of Nippon Paper...

CANON REPORTS RECORD SALES, PROFIT FOR HALF YEAR.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Canon Inc. (TSE:7751) yesterday reported its group net profit reached a record 127.7 billion yen (US$1.06 billion) in the half year ended June 30, up 75 per cent from the year-earlier period, calculated according to...

ITOCHU TO ACQUIRE GENERIC DRUGMAKER MARUKO PHARMACEUTICAL.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Itochu Corp. (TSE:8001) plans to acquire generic drugmaker Maruko Pharmaceutical Co. and use the acquisition as an entry point into the generic medicine business. In September, Itochu will invest 1.1 billion yen...

FIRST PACIFIC COMPLETES US$115 MILLION SECURED BONDS ISSUE.
August 1, 2003... MANILA, Aug 1 Asia Pulse - First Pacific Company Ltd. this week completed a US$115 million secured bonds issue for its wholly-owned subsidiary, CAB Holdings Limited. The bonds bear a yearly interest rate of 8.25 per cent, payable in...

JAPAN'S SKYLARK TO OPEN RESTAURANT IN U.S.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Skylark Co. (TSE:8180), Japan's largest family restaurant operator, has announced plans to enter the U.S. market. The company has set up a wholly owned U.S. subsidiary capitalized at US$1 million that on August 4...

FUJIFILM POSTS 50% GROUP NET PROFIT INCREASE IN APRIL-JUNE.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Fuji Photo Film Co. (TSE:4901) saw its consolidated net profit in the April-June period surge 50 per cent from the first quarter of the previous year to 23.3 billion yen (US$193.4 million), buoyed by a 2.4 billion yen...

MATSUSHITA ELEC PLANS COMMERCIAL SALES OF OXYGEN CONCENTRATORS.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Matsushita Electric Industrial Co. (TSE:6752) plans to begin commercial sales of its home Oxygen Concentrator. Until now, the company has been selling the products through volume retailers of household electrical...

TOKYO GAS TO DEVELOP EFFICIENT HOME FUEL SYSTEMS.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Tokyo Gas Co. (TSE:9531) announced on Thursday that it plans to develop fuel cell cogeneration systems for the home, in separate collaborations with Matsushita Electric Industrial Co. (TSE:6752) and Ebara...

INDONESIAN NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... JAKARTA, Aug 1 Asia Pulse - Highlights of today's newspapers: KOMPAS: - President Megawati Soekarnoputri has asked for a review of a chapter on impeachment against president in a proposed Constitutional Court bill. - Convention...

S KOREA TO IMPOSE 3-YR PRISON TERM FOR CONVICTED HACKERS.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - Those convicted of attempting hacking will face punishment of up to three years or 30 million won (US$25,410) in fines from next year, the Ministry of Information and Communications said Friday. The current...

SUMITOMO TO MARKET UNINTERRUPTIBLE POWER SYSTEM IN JAPAN.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Sumitomo Corp. (TSE:8053) is teaming up with a California-based venture firm to market a new flywheel-type uninterruptible power supply system in Japan. The system maintains voltage levels during events like...

JAPAN'S KAWASAKI PRECISION TO BOOST HYDRAULIC COMPONENT CAPACITY.
August 1, 2003... TOKYO, Aug 1 Asia Pulse - Kawasaki Precision Machinery Ltd., a maker of hydraulic equipment and a subsidiary of Kawasaki Heavy Industries Ltd. (TSE:7012), plans to strengthen its manufacturing system for hydraulic components used in...

US MISSILE SYSTEM WOULD BENEFIT AUSTRALIAN ECONOMY: MINISTER.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Australian industry could stand to make millions of dollars from involvement in the United States missile defence program, Defence Minister Robert Hill said today. Senator Hill said that cooperation could be...

CHINESE NEWSPAPER HIGHLIGHTS - AUG 1, 2003.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - Highlights of today's newspapers: PEOPLE'S DAILY - China's Ministry of National Defense gave a grand reception in the Great Hall of the People in Beijing on Thursday to mark the 76th anniversary of the...

US REQUESTS FOR AUSTRALIAN MILITARY BASES WILL BE CONSIDERED: PM.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Any United States request for a stronger military presence in Australia would be considered, Prime Minister John Howard said today. Mr Howard was asked in a radio interview if a request for a stronger military...

AIR CHINA, CMB LAUNCH FIRST INT'L AIRLINE CARD.
August 1, 2003... BEIJING, Aug 1 Asia Pulse -- Air China and China Merchants Bank (CMB) have launched China's first international airline credit card, the Air China Frequent Flyer Credit Card. The card combines the advantages of Air China's frequent flyer...

SINGAPORE SIMPLIFIES CHINESE TRAVELERS VISA PROCEDURE.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - Singapore is simplifying visa procedures for Chinese travelers in Beijing, Shanghai and Guangzhou. Travelers in these cities can apply for tourism visas via three authorized travel agencies, paying 600 yuan...

CHINA CONSTRUCTION BANK SEES SHARP RISE IN BILL BUSINESS.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - The China Construction Bank (CCB), one of China's four state-owned commercial banks, witnessed a sharp rise in its bill discount business in the first half of this year, a CCB spokesman announced here yesterday. ...

CHINA'S OIL, PETROCHEMICAL SECTORS SEE RECORD HALF YEAR PROFITS.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - China's oil and petrochemical sectors reported 92 per cent growth in their half-year profits year on year to 89.7 billion yuan (US$10.9 billion), a record high. At a national conference on economic performance of...

SHANGHAI GOLD EXCHANGE TRIALS PLATINUM TRADING.
August 1, 2003... SHANGHAI, Aug 1 Asia Pulse - Trial trading of platinum was carried out successfully at the Shanghai Gold Exchange on July 30, with the closing price of platinum slightly higher than the international market. Platinum is the third commodity...

ARMED SKY MARSHALS TO MAN AUSTRALIAN FLIGHTS TO US.
August 1, 2003... CANBERRA, Aug 1 Asia Pulse - Prime Minister John Howard today said he expected to sign a deal with the United States very soon to put armed sky marshals on flights out of Australia to the US. The federal government yesterday revealed it was...

SAMSUNG CORP POSTS US$35.3 MLN NET PROFIT IN H1.
August 1, 2003... SEOUL, Aug 1 Asia Pulse - Samsung Corp. (KSE:00830), the trading arm of Samsung Group, said Friday it recorded net profit of 41.7 billion won (US$35.32 million) on sales of 4.17 trillion won in the first half of 2003. The company's...

CHINA REPORTS SHARP RISE IN OIL, PETROCHEMICAL PRODUCTS TRADE.
August 1, 2003... BEIJING, Aug 1 Asia Pulse -- China imported and exported oil and petrochemical products worth US$53.28 billion during the first six months of 2003, a 40 per cent rise on an annual basis, according to a national petrochemical industry conference...

CHINA SETS OIL IMPORT QUOTAS FOR 2004.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - China will import 10.95 million tons of crude oil and 6.1 million tons of refined oil in 2004 under non-state trading, the Ministry of Commerce (MOC) announced in bulletins on July 31. Certain oil companies,...

STOCKS - MALAYSIAN STOCKS UP IN EARLY TRADE - AUG 1, 2003.
August 1, 2003... KUALA LUMPUR, Aug 1 Asia Pulse - The Malaysian sharemarket was up 0.08 per cent in early trade due to bargain hunting, dealers said. At 10.27 a.m., the Kuala Lumpur Stock Exchange Composite Index rose 0.61 points at 721.17. The broader...

SHANGHAI SETS UP PRODUCTION LINE FOR SOLAR ENERGY BATTERIES.
August 1, 2003... SHANGHAI, Aug 1 Asia Pulse - China's largest production line for solar-energy batteries has been set up in Shanghai, and is expected to ease the power shortage in the country's biggest industrial and financial center. Shanghai Solar Energy...

CHINA'S EXPORTS OF IT PRODUCTS JUMP 47 PCT IN JAN-JUNE.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - China's exports of information technology products surged 47.1 per cent year-on-year in the first half of the year to US$56.9 billion, accounting for nearly 30 per cent of the country's total foreign trade. ...

STOCKS - AUSTRALIAN SHARES HIGHER AT NOON - AUG 1, 2003.
August 1, 2003... MELBOURNE, Aug 1 Asia Pulse - The Australian sharemarket continued to rise at noon on the back of strength in the United States market overnight. News Corp, resources stocks and building materials companies with exposure to the US made...

FOREX - AUSTRALIAN DOLLAR WEAKER AT NOON - AUG 1, 2003.
August 1, 2003... SYDNEY, Aug 1 Asia Pulse - The Australian dollar was weaker at noon after suffering overnight losses but had stabilised just below US$0.6500 at noon, a trader said. At 1200 AEST the Australian dollar was trading at US$0.6481/86 compared...

CHINA TO ESTABLISH SIX REGIONAL ELECTRIC POWER MARKETS.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - China is to set up six regional electric power markets in the next three years so as to establish an open, competitive and unified system of electric power markets. Shi Yubo, vice chairman of the State Electric...

STOCKS - SINGAPORE STOCKS UP IN EARLY TRADE - AUG 1, 2003.
August 1, 2003... SINGAPORE, Aug 1 Asia Pulse - Singapore shares were higher in early trade, with the Straits Times Index up 4.5 points at 1,563.4 at 10.51 a.m. The market rose due to bargain hunting in selected bluechips, including DBS and NatSteel. ...

CHINA TO CRACK DOWN ON ILLEGAL LAND USE.
August 1, 2003... BEIJING, Aug 1 Asia Pulse - The Chinese government has called an indefinite suspension of applications to establish or extend land development zones, and warned those responsible for illegal developments will be severely punished. The move...