AsiaPulse News articles from February 2002

AsiaPulse News archives from February 2002

OPEN - ASIA PULSE INTERNATIONAL - FEB 1, 2002.
February 1, 2002... Good Morning. This is the Asia Pulse International service of business intelligence, news, tenders and expert commentary on the economies of Asia provided by Asia Pulse Pte Ltd (Asia Pulse). Asia Pulse reserves all rights including...

FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - FEB 1, 2002.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - The Australian dollar was fractionally weaker in early trade with dealers saying a further downside test is expected. At 0700 AEDT the Australian dollar was at $US0.5064/69 from 0.5073/78 at yesterday's close....

AUSTRALIAN NEWSPPAER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH: - Pointer to exclusive story on plan to boost rural doctors; Prime Minister's pledge to pay Afghan refugees to go home. - At least 100 detainees go...

CLINICAL TRIALS TO RESUME FOR CHUGAI PHARMACEUTICAL DRUG.
February 1, 2002... (Full text of a statement. Contact details below.) SAN DIEGO, CA., TOKYO, Jan. 31 Kyodo JBN-AsiaNet - The Chugai Pharmaceutical Co., Ltd., and its wholly-owned subsidiary Chugai Biopharmaceuticals, Inc., today announced that the FDA has...

BHP BILLITON CONSORTIUM TO ACQUIRE COLOMBIA MINE.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - BHP Billiton Ltd (ASX:BHP) is set to acquire a stake in a Colombian mine. BHP Billiton is to join with Anglo American Plc and Glencore International to acquire the interests of the International Colombia...

PWC ANNOUNCES IPO TO SEPARATE OFF CONSULTING ARM.
February 1, 2002... (Full text of a statement. Contact details below.) NEW YORK, N.Y., Jan. 31 PRNewswire-AsiaNet - PricewaterhouseCoopers today announced that it plans to separate its management consulting business, PwC Consulting, through an initial public...

PHILIPPINES' LEADER TO ATTEND WORLD ECONOMIC FORUM.
February 1, 2002... NEW YORK, Feb 1 Asia Pulse - President Gloria Macapagal-Arroyo joins other top world leaders of government, business and international organizations this week at the opening of the five-day annual meeting of the World Economic Forum (WEF) at...

PHILIPPINES ECONOMY GROWS 4.3PCT IN 2001.
February 1, 2002... MANILA, Feb 1 Asia Pulse - The Philippine economy grew higher than expected at 4.3 percent in 2001 from the previous year's 4.0 percent, despite the worldwide economic crisis. "With the performance of the economy in 2001, we have been...

STOCKS - AUSTRALIAN INDEX OPENS HIGHER - FEB 1, 2002.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - The Australian sharemarket was higher at the open, backed by early gains in the banking and resources sectors. At 1014 AEDT the benchmark S&P/ASX 200 index was 19.1 points higher to 3483.3, and the all ordinaries...

ST GEORGE BANK LAUNCHES $US100MLN NOTE ISSUE.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - St George Bank Ltd (ASX:SGB), which is Australia's fifth-largest bank, has announced the launch of a combined $A200 million ($US100.9 million) fixed/floating rate subordinated note issue. The notes are set for...

PHILIPPINES SET TO HOST WATER SUMMIT IN MARCH.
February 1, 2002... MANILA, Feb 1 Asia Pulse - The Philippines is to host the 3rd National Water Summit on World Water Day on March 22. The National Economic and Development Authority (NEDA) is continuously conducting consultations among concerned sectors to...

PHILIPPINES LEADER MEETS CANADIAN PM TO BOOST MUTUAL TIES.
February 1, 2002... MANILA, Feb 1 Asia Pulse - President Gloria Macapagal-Arroyo met with Ontario's Premier Mike Harris yesterday to discuss ways to increase trade between the Philippines and Ontario. "Ontario and the Philippines have enjoyed a prosperous...

PHILIPPINES RESUMES ANTI-GRAFT HEARINGS.
February 1, 2002... MANILA, Feb 1 Asia Pulse - The Presidential Anti-Graft Commission (PAGC) has announced the resumption of hearings on administrative cases filed against presidential appointees. The move is in compliance with adirective of President Gloria...

PAKISTAN'S SUGAR MILL INVENTORY STANDS AT 1.15 MLN TONS.
February 1, 2002... KARACHI, Feb 1 Asia Pulse - The total available inventory of sugar at Pakistani sugar mills, including last year's carry over stocks of 45,000 tons, stood at 1.150 million tons, according to figures released by the Pakistan Sugar Mills...

IFC SIGNS US$14.6 MLN DEAL WITH PAKISTAN'S DG KHAN CEMENT.
February 1, 2002... KARACHI, Feb 1 Asia Pulse - The International Finance Corporation (IFC) has signed a syndicated term finance facility worth US$14.6 million for the D.G Khan Cement Company Limited (DGKCCL). The syndicate included the Standard Chartered...

INVESTMENT IN TAIWAN'S EXPORT ZONES HITS US$2.4 BLN IN 2001.
February 1, 2002... TAIPEI, Feb 1 Asia Pulse - A record high of NT$84.2 billion (US$2.4 billion)-worth of investment was poured into Taiwan's export processing zones (EPZs) last year, the Export Processing Zone Administration (EPZA) reported Thursday. The...

BIDDING FIERCE FOR TAIWAN G-3 MOBILE PHONE LICENCES.
February 1, 2002... TAIPEI, Feb 1 Asia Pulse - Following 14 days of fierce competition among six bidders, the combined bids tendered for five licences for third-generation (G3) mobile phones totaled NT$44.7 billion ($US1.28 billion), NT$11.3 billion above the base...

NUMBER OF TAIWAN INTERNET USERS HITS 7.82MLN.
February 1, 2002... TAIPEI, Feb 1 Asia Pulse - Taiwan had about 7.82 million Internet users as at the end of 2001, representing a penetration rate of 35 percent, according to the most recent statistics released by the Institute for Information Industry (III). ...

KOREAN NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - HIghlights of today's newspapers: DONG-A ILBO - Lee Hyung-tack suspected of conducting illegal real estate transactions - Underground economy estimated at 14 per cent of GNP: KDI HANKYOREH SHINMUN ...

TAIWAN BUSINESS MANAGER FAVORS CROSS-STRAIT COOPERATION.
February 1, 2002... KAOHSIUNG, Feb 1 Asia Pulse - An executive from the Kaohsiung-based China Steel Corp. said Thursday that cooperation with mainland Chinese enterprises would provide a good chance for Taiwan's traditional industries to survive. Chen...

TAIWAN SUGAR CORP SET TO BUY HOG FARM IN VIETNAM.
February 1, 2002... TAIPEI, Feb 1 Asia Pulse - Taiwan Sugar Corporation (Taisugar) is set to buy a hog farm in Vietnam, according to a plan recently passed by the company's board of directors. The hog farm is located about 65 kilometers northwest of Ho Chi...

BRIDGESTONE REVENUE RISES 5.69PCT.
February 1, 2002... MELBOURNE, Feb 1 Asia Pulse - Bridgestone Australia Ltd (ASX:BDS) has announced a net profit of $A8.919 million ($US4.5 million) for the 2001 year. The company said today that competitive pressures were "intense" in all its operations,...

PAKISTANI TEXTILE SECTOR URGED TO HELP REVIVE SUDAN INDUSTRY.
February 1, 2002... KARACHI, Feb 1 Asia Pulse - Pakistan's Ambassador to Sudan, Zafarullah Shaikh, on Jan 30 asked the country's textile sector to help Sudanese industrialists in the revival of their textile industries. Speaking at a reception hosted by the...

WEAKENING YEN HURTS KOREAN AUTO, STEEL, PETROCHEMICAL SECTORS.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The weakening Japanese yen is expected to hurt Korean auto, steel, petrochemical and machinery sectors, according to the Bank of Korea Friday. The impact of the weakening yen will be tangible in areas exposed to...

TELECOM CORP RESHUFFLES AUSTRALASIAN OPERATIONS.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - Telecom Corp of New Zealand (ASX:TEL) has announced an executive reshuffle of its Australasian operations. The move is part of an ongoing consolidation of its structure. Chief executive Theresa Gattung said...

N KOREA NEEDS US$1 BLN IN FDI ANNUALLY FOR GROWTH: THINK TANK.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - North Korea needs to attract at least US$5 billion of foreign direct investment to prod its falling economy toward positive growth, a state-run think tank said Friday. "The most effective way to help boost the...

HK DECIDES NOT TO REDUCE WAGES FOR FILIPINO DOMESTICS.
February 1, 2002... MANILA, Feb 1 Asia Pulse - The Hong Kong government has decided not to reduce wages for Filipino domestics working in the region. Vice president and concurrent Foreign Affairs Secretary Teofisto Guingona welcomed the recent decision of Hong...

POLISH INVESTMENT IN PAKISTAN OIL AND GAS TOTALS US$11 MLN.
February 1, 2002... ISLAMABAD, Feb 1 Asia Pulse - The Polish investment in oil and gas sector is to grow fast as it has already been accelerated to US$11 million in response to Pakistan's investor-friendly petroleum policy. According to Tomasz Kozlowski, the...

PHILIPPINES TRADE DEPT DONATES US$1 MLN COMPUTERS TO SCHOOLS.
February 1, 2002... ILOILO CITY, Feb 1 Asia Pulse - The Department of Trade and Industry has donated P54 million (US$1.05 million) worth of computer systems to 96 public high schools in the Western Visayas region. DTI Regional Director Dominic P. Abad said the...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - Govt To Ease Building Rules To Spur Urban Renewal - Supplementary Budget Set To Be Enacted Friday - Daiwa Asset To Buy Bank...

CHINATRUST CREDIT CARD ISSUE INCREASES BY 34PCT IN 2001.
February 1, 2002... TAIPEI, Feb 1 Asia Pulse - The number of credit cards issued by the Taipei-based Chinatrust Commercial Bank at the end of last year totaled four million, making the bank one of the world's top 100 credit card-issuing financial institutions, a...

FORD JAPAN AIMS TO SELL 25,000 CARS IN 2005.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Ford Japan Ltd. targets sales of 25,000 passenger cars a year in Japan by 2005 under a midterm plan released Thursday. While the company will discontinue sales of sister cars with Mazda Motor Corp. (TSE:7261) by...

ALINTAGAS NET PROFIT RISES 22PCT IN AUSTRALIA.
February 1, 2002... PERTH, Feb 1 Asia Pulse - AlintaGas Ltd (ASX:ALN) today posted a net profit of $A32 million ($US16.14 million) for the six months ending December 31, 2001. The firm said it will continue to focus on adding shareholder value through...

JAPAN'S OIL FIRMS TO DEVELOP SELF-SERVICE GAS STATIONS.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Showa Shell Sekiyu KK (TSE:5002) plans to increase its self-service gas stations by more than 400 per cent within three to four years, and Cosmo Oil Co. (TSE:5007) and Idemitsu Kosan Co. by 200-300 per cent by fiscal...

PIONEER CORP OPERATING PROFIT FALLS 41PCT.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Pioneer Corp. (TSE:6773) has announced that its consolidated operating profit for the Oct-Dec 2001 quarter declined 41% on the year to Y6.6 billion ($US49.01 million), while net profit dropped by half to 3.2 billion...

JAPAN'S NEC JOB CUTS TO TOTAL 14,000 THIS FISCAL YEAR.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - NEC Corp. (TSE:6701) said Thursday that it will shed a total of 14,000 employees during the current fiscal year through March 31. Of these, 8,000 will be at plants and offices at home, with the remaining 6,000...

CANON REORGANIZES PRODUCTION TO MAKE PARTS IN JAPAN.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Canon Inc. (TSE:7751) is realigning its domestic and overseas production bases to consolidate production of value-added parts in Japan and undertake the majority of assembly overseas. Canon has announced it will...

JAPAN'S FURUKAWA ELEC STARTS TEMPORARY FURLOUGHS AT US PLANT.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Furukawa Electric Co. (TSE:5801) has begun sending workers home for two weeks a month at its main U.S. plant, which was acquired from Lucent Technologies Inc. in November. The measure will affect 2,900 employees...

JAPAN'S KITZ TO EXIT SKI BUSINESS AS PART OF RESTRUCTURING PLAN.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - Kitz Corp. (TSE:6498), a leading maker of valves, will withdraw from the stagnant ski business, sell a U.S. subsidiary that makes valves for use in power plants, and consolidate unprofitable factories, according to a...

STOCKS - KOREAN SHARES OPEN HIGHER - FEB 1, 2002.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - Korean shares came out of the blocks quickly Friday morning, rising on the overnight surge on Wall Street and the strength of electronics issues. The Korea Composite Stock Price Index (KOSPI) started trading on a...

AUSTRALIAN RESORT REPORTS 38PCT LOWER NET PROFIT.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - Australian leisure resort Hamilton Island today reported a net profit of $A4.2 million ($US2.12 million) for the six months ended December 31, 2001, down 38 per cent. Hamilton Island Ltd (ASX:HAM) said that while...

ISID, DELOITTE TOHMATSU TO BUILD BROADBAND-BASED SYSTEMS.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - ISID Ltd. will form a business alliance with Deloitte Tohmatsu Consulting to build systems for distributing video through broadband communications networks, sources at the companies said Thursday. They will...

JAPAN'S BROTHER INDUSTRIES EXPECTS RECORD PROFIT.
February 1, 2002... NAGOYA, Feb 1 Asia Pulse - Brother Industries Ltd. (TSE:6448) expects consolidated operating profit for the year ending March to soar 52% to Y22 billion ($US163.38 million), breaking the profit record set 17 years ago, the company said. ...

AUSTRALIA'S IRESS MARKET TECHNOLOGY IN AGREEMENTS WITH REUTERS.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - IRESS Market Technology Ltd (ASX:IRE) has signed a range of agreements with Reuters Plc related to Reuters closing its Beacon domestic equities business. Under the agreement IRESS said it would pay $A8 million...

JAPAN ECONOMIC PANEL MULLS SPECIAL ECONOMIC ZONES TO LURE FIRMS.
February 1, 2002... TOKYO, Feb 1 Asia Pulse - A panel under the Ministry of Economy, Trade and Industry is considering establishment of special economic zones that offer tax breaks and other advantages to attract companies that will help strengthen Japan's...

KOREA'S INDUSTRIAL OUTPUT TO EXPAND ACROSS THE BOARD THIS YEAR.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - Production is likely to expand across the board in all industries this year due to the World Cup finals and the Asian Games to be staged in the country this year and the U.S. economic recovery. The Bank of Korea...

AUSTRALIAN PACIFIC EXCHANGE TO BEGINS OPERATIONS BY END OF Q1.
February 1, 2002... SYDNEY, Feb 1 Asia Pulse - A new exchange that offers three different types of investment products is set to make an appearance in Australia by the end of the first quarter of 2002. The Australian Pacific Exchange (APX) will offer property,...

KOREA TO PARTICIPATE IN INTERNATIONAL PIG GENOME PROJECT.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The National Livestock Research Institute (NLRI) will take part in an international project to analyze the pig genome from June, the NLRI said Friday. The project is the initiative of Denmark and China with the two...

JAPAN GOVT TENDER - PAVEMENT WORK.
February 1, 2002... ***** ASIA PULSE TENDER ***** HOKKAIDO REGIONAL DEVELOPMENT BUREAU INVITES BIDS FOR PAVEMENT WORK The following is a procurement notice published in the Kanpo Japanese government gazette on Jan 29: (1) Official in charge of...

QATARI MINISTER TO VISIT PAKISTAN TO DISCUSS GAS PIPELINE.
February 1, 2002... ISLAMABAD, Feb 1 Asia Pulse - Qatari Oil Minister Abdullah bin Hamad al-Attiya will be visiting Pakistan this to follow up a US$3.2 billion Gulf-South Asia Pipeline (Gusa) project and oil sale to Pakistan. Before his visit, most likely in...

CHINESE NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - Highlights of today's newspapers: PEOPLE'S DAILY - Chinese Vice-President Hu Jintao met with Hiroshi Okuda, chairman of the board of the Toyota Motor Corporation of Japan Thursday in Beijing. - China's...

KOREAN CONSTRUCTION ORDERS LAST DECEMBER UP 51% ON YEAR.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - Construction orders in December last year shot up 51 per cent from the same period in 2000 due to a hefty growth of the residential housing market. The Korea Construction Association said the construction industry...

HONG KONG NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... HONG KONG, Feb 1 Asia Pulse - Highlights of today's newspapers: THE SOUTH CHINA MORNING POST - Several Hong Kong banks will unveil slower balance-sheet growth and lower earnings in end of year reports this month. - Hutchison...

KOREAN GOVT STEPS UP CRACKDOWN ON ADULTERATED GASOLINE.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The Korea government said it would step up its crackdown on adulterated gasoline. The Ministry of Commerce, Industry and Energy has been checking those who sell solvent and toluene used to make adulterated...

SHANGHAI BANKS REPORT DROP IN BAD LOANS.
February 1, 2002... SHANGHAI, Feb 1 Asia Pulse - The rate of bad loans at domestically-owned commercial banks in Shanghai dropped by 2.2 pre cent in 2001 to 9.42 per cent at the year end, the Shanghai branch of the Chinese People's Bank reported. Profits for...

BANK OF CHINA'S DOMESTIC SAVINGS DEPOSITS GROWTH RANKS FIRST.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - The balance of the RMB savings deposits of the Bank of China (BOC) had reached 664.405 billion yuan by the end of 2001, 97.342 billion yuan or 17.17 per cent more than at the end of 2000. The growth was 3.92...

FOREX - US DOLLAR JUMPS FRIDAY MORNING - FEB 1, 2002.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The US dollar surged sharply against the won early Friday as market participants took up dollar-buying positions. Opening higher at 1,324 won, the greenback climbed to as high as 1,326 won before retreating to...

SINGAPORE NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... SINGAPORE, Feb 1 Asia Pulse - Highlights of today's newspapers: THE STRAITS TIMES - The Association of Banks in Singapore (ABS), which has 129 members here, said yesterday it has been working on a draft Consumer Banking Code which...

WORLD BANK GRANTS CHINA LOAN FOR NORTHWEST RAILWAY PROJECT.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - The World Bank has approved a US$160 million loan for the China National Railway Project, which will upgrade the existing railway line between Baoji City in Shaanxi Province and Lanzhou City in Gansu Province,...

CHINA'S CHEMICAL IMPORTS AND EXPORTS INCREASE STEADILY.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - China imported 14.4909 million tons of organic chemicals worth US$8.062 billion in the first 11 months of 2001, an increase of 23.51 per cent and 7.94 per cent over the year-earlier period. The import of...

JAPANESE HEALTH MINISTRY APPROVES MEDWAVE VASOTRAC MONITOR.
February 1, 2002... (Full text of a statement. Contact details below.) ST PAUL, Minn, Jan 31 PRNewswire-FirstCall-Asianet - Medwave, Inc. (Nasdaq: MDWV) announced today that it has been granted the necessary approvals from Japan's Ministry of Health and...

JAPAN GOVT TENDER - SYSTEM EQUIPMENT.
February 1, 2002... ***** ASIA PULSE TENDER ***** MINISTRY OF FINANCE TO LEASE SYSTEM EQUIPMENT The following is a procurement notice published in the Kanpo Japanese government gazette on Jan 25: (1) Official in charge of disbursement of the...

CHINA'S ABC MONEY MARKET OPERATIONS DEVELOP RAPIDLY IN 2001.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - The Agricultural Bank of China (ABC) reported a rapid development in its money market operations in 2001. For the whole year, the bank raked in 6.1 billion yuan (US$737.02 million) in revenue from trading,...

THAILAND NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... BANGKOK, Feb 1 Asia Pulse - Highlights of today's newspapers: THE BANGKOK POST: - Thai shares closed up 0.12 per cent yesterday in brisk trade, with an early market rally fizzling out in the afternoon on reports of a market...

INDONESIAN GOVT TO REDUCE EXPORTS OF SEA SAND.
February 1, 2002... JAKARTA, Feb 1 Asia Pulse - The government said Thursday that in response to the over-exploitation of sea sand to the detriment of the environment, it will tighten exports of the mineral. Industry and Trade Minister Rini M.S. Soewandi said...

MALAYSIAN NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... KUALA LUMPUR, Feb 1 Asia Pulse - Highlights of today's newspapers: THE STAR - Utama Banking Group Bhd (UBG) and RHB Capital Bhd are likely to agree on merger terms soon, Prime Minister Dr Mahathir Mohamad said. - Tenaga Nasional...

CHINA'S HUAXIA BANK POSTS 39.25% RISE IN PROFITS IN 2001.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - The Huaxia Bank recorded 1.052 billion yuan (US$127.1 million) in profits in 2001, an increase of 39.25 per cent over 2000. By the end of 2001, the total assets of the bank hit 135.945 billion yuan, up 42.62 per...

VIETNAM'S TAN SON NHAT AIRPORT PREPARES FOR UPGRADE.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Tan Son Nhat International Airport in Ho Chi Minh City is about to get a facelift with the installation of a new US$4 million lighting system by Airimex. A Siemens group company has been awarded a project to supply...

HCM CITY PLANS TARGETS 16% INDUSTRIAL GROWTH RATE FOR 2002.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Ho Chi Minh City's industrial sector plans to register a growth rate of 16 per cent in 2002. To reach the target, the sector will boost trade promotion, investment and demand increase programs. This year, the...

CHINA TO FAREWELL CURRENT MEDICARE SYSTEM IN MAY, 2002.
February 1, 2002... BEIJING, Feb 1 Asia Pulse - Central and Beijing government civil servants will bid farewell to the "free medical care" system in May. Nearly 1 million people will be affected. Instead of relying mainly on the central government to cover...

CHINA'S STOCKS SHOW SIGNS OF RECOVERY AFTER MONTH-LONG SLIDE.
February 1, 2002... SHANGHAI, Feb 1 Asia Pulse - China's stock markets showed signs of recovery Thursday after a month-long slide, with the composite indexes on the Shanghai and Shenzhen bourses moving up 100 and 200 points respectively over Wednesday's close. ...

PRUDENTIAL VIETNAM, ACB SIGN COOPERATION AGREEMENT.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Life insurer Prudential Vietnam and the Asia Commercial Bank (ACB) have entered an agreement under which the bank's branches will act as sales agents for the former's life insurance products. "The agreement...

PETROVIETNAM URGED TO PLAY BIGGER ROLE IN REGIONAL RELATIONS.
February 1, 2002... HANOI, Feb 1 Asia Pulse - The Vietnam Oil and Gas Corporation (PetroVietnam) should strive to become a leading economic corporation and play a more active role in regional and international integration, Permanent Deputy Prime Minister Nguyen...

HALF OF VIETNAM'S POWER TO COME FROM COAL, GAS BY 2010.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Coal and gas will constitute half of the country's electricity source in the next decade, says Deputy Prime Minister Nguyen Tan Dung. He told leaders of the coal-rich province in the North-east that given the...

VIETNAM FOOTWEAR FIRM ENTERS US$29 MLN EXPORT DEAL WITH US CO.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Privately-owned Hiep Hung Footwear Company has signed a contract worth US$29 million with an American partner to export high-class boots to the US. The American partner supplied preliminary drawings for designs and...

KOREA TELECOM REPORTS US$8.7 BLN IN SALES LAST YEAR.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - Korea Telecom (KT) has posted 11.51 trillion won (US$8.7 billion) in sales for 2002, up 11.6 per cent from the preceding year. The telecommunication company's board of directors resolved to pay 720 won per share...

S KOREA'S JANUARY EXPORTS DOWN 8.9 PCT.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The nation's exports in January fell 8.9 per cent year-on-year to US$11.5 billion, according to the pro forma January tally released by the Ministry of Commerce, Industry and Energy Friday. Imports also fell 8.7...

INDONESIAN NEWSPAPER HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... JAKARTA, Feb 1 Asia Pulse - Highlights of today's newspapers: THE JAKARTA POST - The floods, which have paralyzed the city for the last three days, slowly started to recede on Thursday but remained an inconvenience for many. - The...

LANCANG RIVER TO BECOME SOUTHEAST ASIAN ENERGY BASE: ECONOMISTS.
February 1, 2002... KUNMING, Feb 1 Asia Pulse - The Lancang river in southwest China's Yunnan Province will become an energy depot not only for China, but also for southeast Asian countries, Chinese economists predicted. China plans to build eight...

VIETNAMESE NEWSPAPERS HIGHLIGHTS - FEB 1, 2002.
February 1, 2002... HANOI, Feb 1 Asia Pulse - Highlights of today's newspapers: NHAN DAN: - During a regular cabinet meeting held here yesterday, Prime Minister Phan Van Khai said that the Vietnamese government will synchronise its external political...

GDP OF SUZHOU RANKS SIXTH AMONG CHINESE CITIES IN 2001.
February 1, 2002... NANJING, Feb 1 Asia Pulse - Suzhou City in east China's Jiangsu Province has reported an economic growth which ranks sixth among all Chinese cities in 2001. According to the latest statistics released by the city, Suzhou's GDP grew to 176...

KOREANS RUSH TO GO ABROAD DURING LUNAR NEW YEAR HOLIDAYS.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - Additional numbers of Koreans are expected to travel abroad during the Lunar New Year holidays (February 9-13), tourism industry sources said Friday. Major tour agencies saw tour package booking rates reach nearly...

INDONESIA'S IM3 TO INVEST US$37.5 MLN IN BATAM.
February 1, 2002... BATAM, Feb 1 Asia Pulse - Indosat's cellular phone unit IM3 has announced plans to invest US$37.5 million to install a mobile telecommunications network on the island of Batam. The figure accounted for 15 per cent of $250 million the...

MITSUI & CO KOREA PRES NAMED NEW SEOUL JAPAN CLUB CHAIRMAN.
February 1, 2002... SEOUL, Feb 1 Asia Pulse - The Seoul Japan Club (SJC), an organisation for Japanese businessmen in South Korea, said today it has selected Yoshihiro Hashimoto, president of Mitsui & Co. Korea as its sixth chairman. The new chairman began...