AsiaPulse News articles from February 2004

AsiaPulse News archives from February 2004

FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - FEB 2, 2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - The Australian dollar opened stronger today, after the United States currency reversed its earlier gains to close weaker against the euro on Friday. At 0700 AEDT the local unit was trading at $US0.7638/43 compared...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH - Former Wimbledon champion Pat Cash considering applying for a restraining order against tennis star Mark Philippoussis. - Phoney federal election...

COMPUTERSHARE BUYS MAJOR STAKE IN INDIAN FIRM.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Australian IT group Computershare Ltd (ASX:CPU) has bought a $A10 million ($US7.6 million) half stake in India's leading securities and mutual fund registry business. Computershare said it had purchased a 50 per...

NATIONAL AUSTRALIA BANK HEAD QUITS AFTER FOREX SCANDAL.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - The head of the besieged National Australia Bank (ASX:NAB) has resigned in the wake of the bank's rogue trading scandal. NAB chief executive Frank Cicutto resigned today in the wake of the bank's $A360 million...

ALINTA REPORTEDLY BIDS FOR AUSTRALIAN GAS PIPELINE TENDER.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Australian gas retailer Alinta Ltd (ASX:ALN) is reportedly bidding for the right to build a million ($US380.08 million) gas pipeline in the country's far north. The Australian Financial Review said today Alinta...

AUSTRALIAN CONSUMER PRICES RISE SLIGHTLY IN JAN.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Australian prices for consumer goods and services rose 0.4 per cent in January, a report said. The TD Securities-Melbourne Institute Experimental Monthly Inflation Gauge said the firmer figure followed a flat...

US SENATE LAW WILL NOT AFFECT INDIA'S NIIT: SENIOR OFFICIAL.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - NIIT (BSE:NIIT) said Friday it was not affected by the passage of law by US senate banning sub-contracting of government contracts to outside US companies. "The ban targets certain segments and we do not see...

J C PENNEY LIKELY TO SOURCE US$2 BLN WORTH OF APPAREL FROM INDIA.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - US retail chain major J C Penney plans to make India a major sourcing hub for its apparel and high level discussions were on to increase its offtake to US$2 billion within a year's time. Senior officials of J...

INDIAN INFLATION FALLS MARGINALLY TO 6.13%.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - After nine weeks of continuous rise, inflation fell marginally to 6.13 per cent for the week ended January 17, but public continued to pay higher prices for essential commodities with primary articles like fruits...

MONGOLIAN TRADE DELEGATION VISITS TAIWANESE CITY.
February 2, 2004... TAIPEI, Feb 2 Asia Pulse - A Mongolian trade delegation visited the southern city of Kaohsiung Friday to promote bilateral trade, cultural and tourism exchanges. The 43-member delegation, which arrived Monday at the invitation of the...

TAIWAN'S ECONOMY HEATS UP IN DECEMBER.
February 2, 2004... TAIPEI, Feb 2 Asia Pulse - Taiwan's economy heated up in December, with the composite index of its economic situation registering 33 points, giving it a yellow-red light rating for the first time in four years, according to a government report...

INDIA TO EXPORT SURPLUS DIESEL TO MYANMAR.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - India will export surplus diesel to Myanmar as New Delhi explores the possibility of building a pipeline to import gas from offshore Myanmar. "Numaligarh Refinery Ltd is to begin exporting diesel by road to...

RELIANCE INDUSTRIES NET PROFIT UP 27% IN THIRD QUARTER.
February 2, 2004... MUMBAI, Feb 2 Asia Pulse - Reliance Industries Ltd (BSE:RELI) has posted a 27 per cent rise in net profit at Rs 13,740 million (US$303.24 million) in the third quarter ended December 31, 2003 on a turnover of Rs 18,8640 million, up 21 per cent...

ONGC FILES DRAFT PROSPECTUS FOR PUBLIC ISSUE.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - India's state-run Oil and Natural Gas Corporation (BSE:ONGC) on Wednesday filed with Securities and Exchange Board of India the draft propectus for the public issue the Government of India's 10 per cent stake. ...

INDIA UNVEILS MINI EXIM POLICY; DIGITAL SIGNATURE FOR EXPORTERS.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - In a bid to provide fresh impetus to exports, the Indian goverment on Wednesday fine-tuned its Exim Policy, allowing free import of gold, silver and power, and extended the duty-free import scheme to heritage and...

STOCKS - AUSTRALIAN SHARES OPEN HIGHER - FEB 2, 2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - The Australian share market jumped higher at the open as the market's focus was again drawn to the National Australia Bank. NAB bolted higher after its chief executive Frank Cicutto resigned this morning in the...

TAIWAN'S UNEMPLOYMENT RATE TO DROP TO 4% IN 2004: PRESIDENT.
February 2, 2004... CHANGHUA, Taiwan, Feb 2 Asia Pulse - President Chen Shui-bian said Sunday Taiwan's unemployment rate will drop to 4 per cent this year as the local economy has fully recovered from its year-long recession. Addressing a rally in Changhua...

BOEING MARKETS LATEST 7E7 JET IN INDIA.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - US aircraft maker Boeing will soon start talks with Indian carriers to market its latest aircraft, the '7E7', which is due for launch in 2008, as it strives to cash in on the fast-growing Asian aviation market. ...

TAIWAN LAUNCHES CENTER TO COMBAT INSURANCE FRAUD.
February 2, 2004... TAIPEI, Feb 2 Asia Pulse - A crime prevention center aimed at stamping out insurance fraud was formally established Friday. The Ministry of Finance (MOF), one of the guiding forces behind the setting up of the center, said that insurance...

INDIA'S CSO ESTIMATES 2002-03 GDP GROWTH AT 4%.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - Raising the prospects of higher GDP growth this fiscal year, the Central Statistical Organisation has pegged downwards the economic growth at 4% for 2002-03. The quick estimates released by Ministry of...

AUSTRALIAN MANUFACTURING SECTOR STARTS 2004 ON STRONG NOTE.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Strong domestic demand has enabled Australia's manufacturing industry to begin 2004 on a good note but there has been a slowing in housing and vehicle-related activity, an index has found. The seasonally adjusted...

NIIT'S SOFTWARE BUSINESS SPIN-OFF BY JUNE-END: CEO.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - NIIT (BSE:NIIT) has said its software business would be spun off by the third week of June and the whole exercise is on course as per its plans. "The scheme of arrangement is current with stock exchanges....

QUEENSLAND BIOTECH INDUSTRY SET TO GROW: PREMIER.
February 2, 2004... BRISBANE, Feb 2 Asia Pulse - Queensland's biotechnology industry was going through a boom growth period, Premier Peter Beattie said Sunday. Mr Beattie said a Queensland Biotechnology Report compiled by Ernst&Young and commissioned by the...

INDIA'S EXPORTS SURGE 42.68% IN DECEMBER.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - After record 8.2 per cent GDP growth in the second quarter, exports grew by a whopping 42.68 per cent at US$5.489 billion in December 2003, signalling the upturn in the economy. The overall export growth in...

L&T INFOTECH TO DEVELOP APPLICATIONS FOR ROMANIA'S CONNEX.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - Larsen and Toubro Infotech Ltd has announced it has started working for Romanian mobile operator - Connex - to develop business critical application for it. The project would be executed at Navi Mumbai offshore...

AUSTRALIA'S CRANE GROUP POSTS 14% FALL IN PROFITS FOR H1.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Crane Group (ASX:CRG) said today it expected a weaker second half 2003/04 after posting a fall of 14 per cent to A$22.218 million (US$17 million) in net profit for the first half. The company said after allowing...

PACIFIC INTERNET DEPLOYS REGIONAL VPN FOR ASIA CITY PUBLISHING GROUP.
February 2, 2004... (Full text of a statement. Contact details below.) SINGAPORE, Jan. 30 /XFNHK-AsiaNet/ -- Secured and Integrated Network to Enhance Communications Between Asia City Publishing Regional Operations Pacific Internet Limited or...

THAI NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... BANGKOK, Feb 2 Asia Pulse - Highlights of today's newspapers: THE BANGKOK POST: - General Motors Corp, the world's number one automaker, plans to manufacture the Korean brand Daewoo in Thailand in order to expand its product portfolio...

DABUR INDIA Q3 NET UP 47.4%.
February 2, 2004... NEW DELHI, Feb 2 Asia Pulse - Pharmaceuticals company Dabur India (BSE:DABU) on Wednesday reported a jump of 47.4 per cent in net profit to Rs 298.1 million (US$6.58 million) in the third quarter ending December 31, 2003 from Rs 202.3 million...

CUMMINS INDIA Q3 NET UP 10%.
February 2, 2004... MUMBAI, Feb 2 Asia Pulse - Diesel engine manufacturer Cummins India Ltd (CIL) (BSE:CUMM) has posted a 10 per cent increase in net profit at Rs 269.4 million (US$5.94 million) during the third quarter ended December 31, 2003, compared with Rs...

KOREAN NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Highlights of today's newspapers: KYUNGHYANG SHINMUN: - Possible human-to-human transmission of bird flue detected in Vietnam: WHO. KUKMIN DAILY: - President Roh Moo-hyun's close aide received illegal...

STOCKS - TOKYO SHARES OPEN HIGHER - FEB 2, 2004.
February 2, 2004... TOKYO, Feb 2 Asia Pulse - Share prices in Tokyo opened higher Monday, with the Nikkei-225 index edging up 1.32 points to 10,784.93 in early trade. ASIA IN FOCUS 02-02 1128

FOREIGNERS BUY RECORD AMOUNT OF S KOREAN SECURITIES LAST YEAR.
February 2, 2004... SEOUL, Jan 30 Asia Pulse - Foreign investors bought US$13.52 billion worth of South Korean securities last year, the largest amount since the capital market opened in 1992, the Bank of Korea said today. Foreigners bought securities worth...

S KOREAN GOVT PLANS TO MAKE KIC'S ASSETS HIGHLY LIQUID.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The South Korean government will make the assets of an envisioned state investment agency readily convertible into cash to ensure a cushion against crisis, government officials said today. In an effort to turn the...

INTENTIA INTERNATIONAL'S BOARD OF DIRECTORS SET TO CHANGE.
February 2, 2004... (Full text of a statement, contact details below) STOCKHOLM, Jan. 30 /PRNewswire-AsiaNet/ -- Intentia International AB (publ) (XSSE: INT B) announces that Symphony Technology Group has proposed three candidates for positions as new members...

MARTEK FILES PATENT INFRINGEMENT ACTION AGAINST NUTRINOVA.
February 2, 2004... (Full text of a statement, contact details below) COLUMBIA, Md., Jan. 30 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation (Nasdaq: MATK) today announced that it has filed a patent infringement suit in Germany against Nutrinova...

SUN LIFE FINANCIAL POSTS US$1.5 BLN EARNINGS FOR 2003.
February 2, 2004... (Full text of this release can be found at http://www.asianet.com.au) TORONTO, Jan. 29 /CNW-AsiaNet/ -- Sun Life Financial Inc. (NYSE/TSX: SLF) today announced record operating earnings for 2003 of more than US$1.5 billion before a US$211...

FANNIE MAE REDEMPTION.
February 2, 2004... (Full text of a statement, contact details below) WASHINGTON, D.C., Jan. 31 /PRNewswire-AsiaNet/ -- Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a...

CORR: SUN LIFE FINANCIAL POSTS US$1.5 BLN EARNINGS FOR 2003.
February 2, 2004... (Corrects AsiaNet Web site address) (Full text of this release can be found at www.asianetnews.net) TORONTO, Jan. 29 /CNW-AsiaNet/ -- Sun Life Financial Inc. (NYSE/TSX: SLF) today announced record operating earnings for 2003 of more...

TOP US AGRICULTURAL OFFICIALS JOIN TRADE TALKS WITH AUSTRALIA.
February 2, 2004... CANBERRA, Feb 2 Asia Pulse - The Bush administration's top two agricultural officials were hauled into free trade talks with Australia on Sunday. Agriculture Secretary Ann Venemann and her influential under-secretary, JB Penn, spent more...

Higher exports boost Taiwan economy in December.
February 2, 2004... TAIPEI, Feb 2 Asia in Focus - Increasing exports and growing industrial production have boosted the Taiwanese economy. Taiwan's economy heated up in December, with the most positive results for four years. * A yellow-red light rating,...

INPHOMATCH, TELECOM NEW ZEALAND TEAM UP FOR INTERNATIONAL SMS.
February 2, 2004... (Full text of a statement, contact details below) CHANTILLY, Va., Jan. 31 /PRNewswire-AsiaNet/ -- InphoMatch, Inc. today announced an agreement to help expand the reach of Telecom New Zealand's text messaging network. The agreement...

INTENTIA: ANNOUNCEMENT OF 2003 ACCOUNTS.
February 2, 2004... (Full text of a statement, contact details below) STOCKHOLM, Sweden, Jan. 30 /PRNewswire-AsiaNet/ -- In a difficult market, license orders received increased while cash flow after investments improved to SEK 41 million during the fourth...

STOCKS - AUSTRALIAN INDEX HIGHER TO NOON - FEB 2, 2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - The Australian sharemarket lifted at noon, pulled up by gains in National Australia Bank after the resignation of chief executive Frank Cicutto. Mr Cicutto's resignation was announced before the market opened...

TREND MICRO ANNOUNCES REVISION OF Q4 FORECAST.
February 2, 2004... (Full text of a statement, contact details below) TOKYO, Jan. 30 /XFNHK-AsiaNet/ -- Trend Micro (TSE: 4704; Nasdaq: TMIC), a leader in network antivirus and Internet content security software and services, today announced that the forecast...

BANK OF KOREA TO TACKLE INFLATIONARY PRESSURE PREEMPTIVELY.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The Bank of Korea (BOK) will take preemptive measures to keep possible inflationary pressures in check, South Korea's top central banker said Monday. "The central bank will carry out its monetary policy this year...

FOREX - AUSTRALIAN DOLLAR STRONGER TO NOON - FEB 2, 2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - The Australian dollar was stronger at noon on a lacklustre day of trading, ahead of the upcoming Group of Seven meeting of industrial nations. At 1200 AEDT the local unit was trading at $US0.7645/50 compared with...

FOREIGN SECURITIES FIRMS SWAY 15 PCT OF STOCKS TRADING IN S KOREA.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Foreign securities firms were responsible for 15 per cent of stock trading in South Korea in January, the Korea Stock Exchange (KSE) said Monday. According to the KSE, the turnover of 13 foreign securities firms...

S KOREAN GOVT PERMITS MORE LAND FOR CONSTRUCTION IN 2003.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The amount of land permitted for construction in South Korea increased 2.4 per cent annually to 142.1 million square meters last year, the Ministry of Construction and Transportation said Friday. The figure broke...

MULTIMEDIACARD ASSOCIATION NAMES 2004 BOARD.
February 2, 2004... (Full text of a statement, contact details below) HSIN TIEN, Feb. 2 /XFNHK-AsiaNet/ -- The Board of Directors of the MultiMediaCard Association (MMCA) recently welcomed Power Digital Card, Co. Ltd. (PDC) as its newest member for 2004. PDC...

COLUMBIA UNIVERSITY PROFESSOR IS NEW HEAD OF KOREA EXCHANGE BANK.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Korea Exchange Bank (KEB) (KSE:004940) said Thursday it appointed Columbia University business professor Robert Fallon as its new head, a move the bank's labor union considers invalid. The decision came during a...

S KOREA'S INDUSTRIAL COMPLEX OPERATION RATE UP IN DEC.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The average operation rate of South Korea's national industrial complexes increased 0.2 percentage point on-year to 85.6 percent in December last year, a state-run industrial complex company said Friday. According...

S KOREA TO SET UP SYSTEM AGAINST HUMAN BIRD FLU INFECTIONS.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - South Korea Friday decided to establish an emergency health care system to prepare for possible human infections of bird flu. The Ministry of Health and Welfare said that the contingency system is in line with...

SK CORP UNVEILS ROAD MAP FOR GOVERNANCE REFORMS.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - SK Corp. (KSE:003600), struggling with management challenges from foreign shareholders, said Friday it will fill half of its board seats with outside directors starting this year as part of its corporate governance...

LG ELECTRONICS, SONY LOOK INTO S KOREAN CELL PHONE EXPLOSION.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - LG Electronics Inc. (KSE:066570), South Korea's top electronic appliance maker, and Sony Corp., the Japanese consumer electronics giant, are investigating the cause of a cell phone battery explosion last week. ...

SSANGYONG MOTOR SALE LIKELY TO BE DELAYED BY UNIONIST PROTESTS.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Procedures for a takeover of South Korea's Ssangyong Motor Co. (KSE:003620) by a Chinese petrochemical producer are being delayed by opposition from the carmaker's unionists. According to Ssangyong creditors...

SINGAPORE NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... SINGAPORE, Feb 2 Asia Pulse - Highlights of today's newspapers: THE STRAITS TIMES - The deadly bird flu outbreak spread to five more areas in China yesterday, even as the World Health Organisation (WHO) warned that the deaths of two...

KOREAN AIR'S BID FOR KAI FACES ROUGH SAILING.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Korean Air's (KSE:003490) attempt to take over Korea Aerospace Industries (KAI), the nation's sole aircraft producer, hit a snag due to difficulties in negotiations with one of KAI's top shareholders, industry insiders...

SK TELECOM PRESSURED TO OUST SK GRP OWNER, CHAIRMAN FROM BOARD.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - An influential South Korean shareholder rights group submitted a proposal Friday to SK Telecom Co. (KSE:17670), the country's largest cell phone operator, calling for the unseating of both its chairman and SK Group's...

KOREAN FINANCE MINISTER SAYS TAX BREAKS WILL CREATE JOBS.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Finance and Economy Minister Kim Jin-pyo said Friday that tax breaks will create jobs by making it easier for businesses to hire new workers. Speaking on a radio talk show on KBS, the official said that he...

MALAYSIAN NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... KUALA LUMPUR, Feb 2 Asia Pulse - Highlights of today's newspapers: THE STAR: - With the current favourable market conditions coupled with ample liquidity in the financial system, many unit trust management companies (UTMCs) are...

KOREA CONTINUES FTA TALKS WITH SINGAPORE.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - South Korea and Singapore have made significant progress in their initial round of talks on a proposed free trade agreement (FTA), paving the way for a possible signing by the end of this year, according to a top South...

S KOREA'S WOORI SEEKS FOREIGN INVESTORS FOR SONGDO PROJECT.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Financial advisors for a government plan to turn part of a western South Korean port city abutting Seoul into an international business center have mapped out a blueprint to lure foreign investment for the realization...

S. KOREA AIMS TO CREATE 10,000 TECH JOBS BY 2007.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The South Korean government unveiled Friday a four-year plan to create 10,000 jobs in the technology sector by requiring state-run corporations to hire more college engineering graduates. The plan also calls for...

S. KOREA'S PANTECH POSTS NET LOSS IN 2003.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Pantech Co. (KSE:25930), South Korea's third-largest handset maker with its sister company Pantech & Curitel Communications Inc., said it went into the red last year because of price competition with Chinese rivals and...

S KOREAN CONSUMER PRICES UP 0.6% IN JAN.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Consumer prices in South Korea rose in January largely on sharp increases in the prices of agricultural and seafood products, the Ministry of Finance and Economy said today. Overall, commodity prices in January...

VIETNAMESE NEWSPAPER HIGHLIGHTS - FEB 2, 2004.
February 2, 2004... HANOI, Feb 2 Asia Pulse - Highlights of today's newspapers: NHAN DAN: - Vietnam's first liver transplant has been declared a success. The 19 hours of surgery was only the beginning of the total transplant and the final result would not...

S KOREAN THINK TANK HEAD OPPOSES FOREIGN EXCHANGE INTERVENTION.
February 2, 2004... SEOUL, Feb 2, Asia Pulse - The head of the Korea Institute of International Economic Policy (KIEP) said today that the government should keep foreign exchange in the hands of the market. KIEP President Ahn Choong-yong said during a radio...

VIETNAM'S INDUSTRIAL SECTOR SPRINGS INTO NEW YEAR.
February 2, 2004... HANOI, Feb 2 Asia Pulse - Some of the country's industrial enterprises shortened their Tet holidays this week, hoping to get a jump on their lunar new year goals. The chairman of the Vietnam Textile and Garment Association, Le Quoc An,...

ADVISORY - FEDERAL TERRITORY DAY, MALAYSIA - FEB 2, 2004.
February 2, 2004... public holiday in Malaysia, there will be no stock reports today. ASIA PULSE 02-02 1342

KOREA CHAMBER OF COMMERCE CHIEF CALLS FOR FREE ENTREPRENEURSHIP.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - A prominent South Korean business leader on Friday urged the government to abandon what he called its interventionist corporate policies and promote the proliferation of free entrepreneurship. Park Yong-sung,...

KOREA'S NSO INVESTIGATING POSSIBLE STATISTICS REPORT LEAK.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - South Korea's National Statistical Office said Friday it is investigating a possible leak of its monthly industrial activity report a day ahead of its scheduled release. The office, which officially requests a...

KOREAN GOV'T EXPECTS 500,000 JOBS TO BE CREATED THIS YEAR.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - The Ministry of Finance and Economy said Friday that tax breaks and various other incentives will permit 500,000 jobs to be created this year. In a press release disputing some media reports that the Roh Moo-hyun...

KOREA'S SK CORP. POSTS US$11.73 BLN IN SALES LAST YEAR.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - SK Corp. (KSE:03600), South Korea's largest oil refiner, said Friday it posted 13.79 trillion won (US$11.73 billion) in sales last year, up 3 per cent from the previous year. The firm's operating profits soared 74...

FEUD ESCALATES OVER STEEL PRICE HIKES IN KOREA.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - South Korea's construction companies and steelmakers are in conflict over the latter's steep price hikes for steel products. Korean steelmakers have raised prices for key steel products by 30 per cent over the...

MAJORITY OF S. KOREANS QUESTION SAFETY OF U.S. BEEF: SURVEY.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Nearly nine out of every 10 South Koreans believe American beef is not safe enough to eat because of health concerns stemming from the detection of mad cow disease in the United States last month, according to a poll...

WOOLWORTHS SALES RISE 6.4PCT 1H FY2004.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Total sales for Woolworths Ltd (ASX:WOW) rose 6.4 per cent to $A15.074 billion ($US11.48 billion) for the first half of financial year 2003/04, according to Woolworths chief executive Roger Corbett. He also said...

SK TELECOM SEES 2003 PROFIT RISE 29 PCT, SALES TOTAL US$1.6 BLN.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - SK Telecom Co. (KSE:17670), South Korea's top mobile carrier, said Friday its 2003 net profit rose 28.55 per cent to 1.9 trillion won (US$1.6 billion). The gain came as more subscribers use their phones to access...

KOREA'S KORAM BANK YET TO APPROVE LG CARD BAILOUT.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Koram Bank (KSE:16830) has not yet decided whether to agree to the LG Card (KSE:32710) bailout package ironed out between its creditors, LG Group and government meditators. "We held a board of directors meeting by...

MAGNA PACIFIC LIFTS FULL YEAR FORECAST ON PROFIT JUMP.
February 2, 2004... BRISBANE, Feb 2 Asia Pulse - Independent film and video distributor Magna Pacific Holdings Ltd (ASX:MPH) has reported a large profit jump, posting net profit of $2.002 million for the six months to December 31, 2003, up from $A808,000...

EXPORTS BUOY KOREA'S INDUSTRIAL OUTPUT.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - Despite weak consumer spending and investments, strong exports bolstered industrial output to a yearly high of 10.4 per cent in December, a government report said Friday. The National Statistical Office said...

MELBOURNE BIOTECH SET TO LIST IN AUSTRALIA.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Melbourne biotech CogState announced today it would list on the Australian Stock Exchange (ASX) next week. The firm recently signed six elite sporting organisations as clients. The company, which specialises...

KOREA'S KORES PLANS TO INVEST IN 14 OVERSEAS MINES.
February 2, 2004... SEOUL, Feb 2 Asia Pulse - State-run Korea Resources Corp.(KORES) said Friday it was planning to invest in 14 mines in 11 overseas countries by acquiring shares in those mines. The public resources company said it would carry out feasibility...

AUSTRALIAN TRADE DEFICIT WIDENS IN DECEMBER.
February 2, 2004... SYDNEY, Feb 2 Asia Pulse - Australia's trade data for December widened to its largest monthly deficit since April 2003. A spike in the number of imports pushed the result well above expectations. The balance on goods and services was a...