AsiaPulse News articles from February 2008

AsiaPulse News archives from February 2008

CATERPILLAR COMPLETES ACQUISITION OF SHANDONG SEM MACHINERY CO.
February 1, 2008... (Full text of a statement. Contact details below.) Caterpillar Completes Acquisition of Shandong SEM Machinery Co., Ltd. QINGZHOU CITY, Feb 1 /PRNewswire-AsiaNet/ -- Caterpillar will continue investing in employee development,...

NO TERRORISM LIST REMOVAL BEFORE N.K.'S DECLARATION: US ENVOY.
February 1, 2008... WASHINGTON, Feb 1 Asia Pulse - The top U.S. envoy to South Korea affirmed Thursday that his government will not remove North Korea from its list of terrorism-sponsoring states until the communist state provides a full declaration of its nuclear...

ALL AIRSTRIPS IN INDONESIA MUST BE UPGRADED: MINISTER.
February 1, 2008... JAKARTA, Feb 1 Asia Pulse - Transportation Minister Jusman Syafii Djamal said that all airstrips in Indonesia should be upgraded to avoid undesired incidents such as the one that occurred with a Twin Otter plane at an airstrip in Paniai...

BALI NAMED "BEST EXOTIC DESTINATION" BY LUXURY TRAVEL MAGAZINE.
February 1, 2008... DENPASAR, Bali, Feb 1 Asia Pulse - The Indonesian resort island of Bali has again won "The Best Exotic Destination" award, this time from the London-based Luxury Travel Magazine, a tourism official said. "The readers of Luxury Travel...

INDONESIAN GOVT TO FOCUS ON CONTROLLING INFLATION RATE: MINISTER.
February 1, 2008... JAKARTA, Feb 1 Asia Pulse - The Indonesian government will focus its attention on controlling the inflation rate in antcipation of the impact of risks arising from the interest rate cuts by the US Federal Reserve, a minister said. "Signs...

INDONESIAN MINISTRIES TOLD TO SLASH BUDGET SPENDING BY 15 PCT.
February 1, 2008... JAKARTA, Feb 1 Asia Pulse - The Indonesian government on Thursday asked ministries and state agencies to postpone or even slash their expenditures by up to 15 per cent of the budgets allocated to them as part of efforts towards the 2008 State...

AGRICULTURE MINISTRY DENIES INDONESIA'S FOOD RESILIENCE LOW.
February 1, 2008... BOGOR, West Java, Feb 1 Asia Pulse - A senior Agriculture Ministry official has refuted the notion that Indonesia's food reslience is low, saying the country has several food crop varieties that provide resilience. "Our food resilience is...

INDONESIA'S NUMBER OF CELL PHONE SUBSCRIBERS GROWS 51 PCT.
February 1, 2008... JAKARTA, Feb 1 Asia Pulse - The number of cellular phone subscribers in Indonesia in 2007 rose 51 per cent to 96.41 million from a year earlier, a minister said. "The increase in the number of cellular phone and FWA (fixed wireless access)...

STOCKS - BOMBAY SHARES CLOSE LOWER - JAN 31, 2008.
February 1, 2008... MUMBAI, Jan 31 Asia Pulse - The Bombay Stock Exchange's benchmark Sensex index on Thursday fell by 110 points as market participants sold shares of companies mainly in real estate, banking, power and capital goods sectors. The Sensex,...

AUSTRALIAN BOND MARKET OPENS WEAKER - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The Australian bond market opened weaker today, tracking US Treasuries which found support early in the overnight session before reversing course as equities rallied. At 0830 AEDT, the yield on the Commonwealth...

AUSTRALIAN MANUFACTURING ACTIVITY FALLS FOR 1ST TIME IN 18 MTHS.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Manufacturing activity has slipped for the first time in more than 18 months with volatility in financial markets blamed for the decline. The Australian Industry Group-PricewaterhouseCoopers Australian...

AUSTRALIAN TREASURER SAYS STILL ROOM FOR TAX CUTS.
February 1, 2008... CANBERRA, Feb 1 Asia Pulse - Federal Treasurer Wayne Swan says there is still room for personal income tax cuts in the May budget. But he says the government needs to make additional expenditure savings to take pressure off inflation. ...

AUSTRALIAN PM CALLS ON UNIONS TO SHOW WAGE RESTRAINT.
February 1, 2008... CANBERRA, Feb 1 Asia Pulse - Prime Minister Kevin Rudd has warned of "pain and difficulty" for Australians in this year's budget as he declared inflation to be public enemy No. 1. Mr Rudd promised that Labor would keep its promise of A$31...

TAX CUTS NOT NECESSARLY INFLATIONARY: AUSTRALIAN MINISTER.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The A$31 billion (US$27.77 billion) in tax cuts promised by the federal government will "not necessarily" exert pressure on inflation, Finance Minister Lindsay Tanner says. Mr Tanner said today the tax cuts...

AUST CO DEVELOPING MISSILE-ENABLED CATAMARANS FOR CHINESE NAVY.
February 1, 2008... CANBERRA, Feb 1 Asia Pulse - An Australian company is working directly with the Chinese navy to develop catamarans capable of firing missiles, an international policy institute says. The company, AMD Marine Consulting, is a naval...

NEW SOUTH WALES CARBON TRADING WORKING GROUP TO MEET TODAY.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - A working group that will plan for the transition from the New South Wales Greenhouse Gas Abatement Scheme to a future National Emissions Trading Scheme will meet for the first time today. NSW Energy Minister Ian...

FOREX - AUSTRALIAN DOLLAR OPENS FIRMER - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The Australian dollar opened firmer today as a rally on Wall Street overnight signalled a rebound in risk appetite. At 0700 AEDT, the Australian dollar was trading at US$0.8968 72, up from yesterday's close of...

VICTORIAN BUSINESSES, INVESTORS BRACE FOR LAND TAX RISES.
February 1, 2008... MELBOURNE, Feb 1 Asia Pulse - Thousands of Victorian business owners and property investors face massive land tax levels as the Victorian government removes a cap that limited annual land tax increases to 50 per cent. The move could...

AUSTRALIA FACING "DIFFICULT TIMES": TREASURER.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Federal treasurer Wayne Swan says the nation is facing "difficult times", and his government's first budget will be framed to tackle inflation. The budget, to unveiled in May, would contain initiatives aimed at...

GAIL KELLY BEGINS TOP JOB AT AUSTRALIA'S WESTPAC.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - New Westpac (ASX:WBC) chief executive Gail Kelly started work today. Mrs Kelly succeeds David Morgan, who had been Westpac's CEO since March 1999. Mrs Kelly formerly headed the country's fifth largest bank,...

KOREA EXCHANGE BANK'S 2007 EARNINGS FALL 5.9 PCT.
February 1, 2008... SEOUL, Feb 1 Asia Pulse - Korea Exchange Bank (KSE:004940), South Korea's fifth-largest lender, said Friday its earnings for 2007 declined 5.9 per cent from a year earlier, due mainly to higher provisions against risky loans. Net income...

OPEN INSURANCE, DEFENCE FOR FOREIGN INVESTMENT: INDIA'S ASSOCHAM.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - A day after the Indian government liberalised foreign direct investment (FDI) norms for sectors such as civil aviation, commodity exchanges and petroleum, industry body Assocham has said insurance and defence...

DABUR PHARMA RECEIVES INDIAN REGULATOR'S NOD FOR NANOXEL.
February 1, 2008... MUMBAI, Feb 1 Asia Pulse - Dabur Pharma Ltd (BSE:532545) on Thursday said it has got approval from the Drug Controller General of India (DCGI) for its anti-cancer drug delivery formulation 'Nanoxel' (nanoparticle paclitaxel) as an indication...

AUST PASSENGERS SPEND NIGHT IN BUS SHELTER AS FLIGHTS CANCELLED.
February 1, 2008... MELBOURNE, Feb 1 Asia Pulse - A woman left stranded outside Sydney Airport overnight after the cancellation of her Jetstar flight to Melbourne says she spent the night curled up in a bus shelter. The passenger, identified only as Stacey,...

AUSTRALIA'S SUNCORP TARGETS SYNERGIES OF US$291 MLN WITH PROMINA.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Suncorp-Metway Ltd (ASX:SUN) says it will extract higher synergies from its A$7.9 billion (US$7 billion) merger with general insurer Promina Group, but that claims related to storms and floods will impact its...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Highlights of today's newspapers: THE AUSTRALIAN FINANCIAL REVIEW: - The Australian sharemarket has suffered its worst month since the October 1987 crash, and fund managers are bracing for more volatility. ...

CAIRN ENERGY LIFTS OUTPUT ESTIMATE FOR RAJASTHAN FIELD BY 25%.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Cairn Energy Plc of the UK on Thursday raised the production estimate for Mangala, its largest oilfield in Rajasthan, by 25 per cent. Potential plateau production from the Mangala field in Rajasthan, developed...

INDIA'S XENITIS GROUP ROLLS OUT ENTRY-LEVEL MOTORCYCLE.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Aiming to capture 20 per cent of market share in the entry level domestic motorcycle segment by 2010, Kolkata-based Xenitis Group on Thursday announced the national roll-out of its sub-Rs 20,000 (US$508) bike. ...

STOCKS - AUSTRALIAN SHARES BEGIN HIGHER - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The Australian sharemarket opened higher this morning following New York's surge overnight. At 1015 AEDT, all three Australian indices were up, the benchmark S&P/ASX200 by 50.3 points to 5,700.6, and the All...

US$6.22 BLN IN LOANS TO AID CITY RENOVATION PROJECTS IN TAIWAN.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The government is urging housing developers to make use of a NT$200 billion (US$6.22 billion) loan program to engage in city renovation projects, Ministry of the Interior officials said Thursday. The officials...

INDIAN OIL CORP IN TALKS WITH OIL MAJORS FOR OIL/GAS BLOCKS.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Indian Oil Corp (BSE:530965) is in talks with Exxon Mobil, Chevron and Reliance Industries (BSE:500325) for bidding for oil and gas blocks offered in the seventh round of the new exploration and licensing policy....

INDIAN BUDGET CARRIER GOAIR APPOINTS EDGARDO BADIALI AS CEO.
February 1, 2008... MUMBAI, Feb 1 Asia Pulse - Wadias-promoted GoAir on Friday said Edgardo Badiali has been appointed as the chief executive officer of the company. Badiali, a senior aviation professional with over 15 years of senior management experience,...

HYNIX SEMICONDUCTOR RECORDS Q4 LOSS OF US$493 MLN.(Financial report)
February 1, 2008... SEOUL, Feb 1 Asia Pulse - South Korea's Hynix Semiconductor Inc. (KSE:000660), the world's second-largest maker of memory chips, said Friday that it posted bigger-than-expected losses in the fourth quarter of last year on tumbling chip prices....

GSKCH PLANS TO INTRODUCE GLOBAL BRANDS INTO INDIA.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - GlaxoSmithKline Consumer Healthcare (GSKCH) on Friday said it plans to introduce some of its global brands, including toothpaste Sensodyne, into India in the next three years to strengthen its position in the...

TAIWAN WANTS AVIATION RIGHTS LISTED AS ASSETS OF AIRLINES.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The Ministry of Transportation and Communications is expected to demand within a few days that aviation rights be listed among the assets of Taiwanese airlines in a bid to correct current practices which tend to...

INDIA'S UNITECH IN TALKS WITH GLOBAL MAJORS FOR TELECOM VENTURE.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Realty firm Unitech (BSE:507878), which has received a pan-India license to offer mobile services, is in talks with global players from the US and the UK for a tie-up for its telecom venture. "Unitech will be...

INFOCOM SECURITY CERTIFICATE ISSUED TO BANKERS ASS'N IN TAIWAN.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The first national info-communication security certificate has been issued to the Bankers Association for its digital signature generator, marking a great leap in Taiwan's protection of electronic commerce, government...

INDIA'S TATA CHEMICALS TO BUY US-BASED GCIP FOR US$1 BLN.
February 1, 2008... MUMBAI, Feb 1 Asia Pulse - Tata Chemicals Ltd (BSE:500770) on Friday said it will acquire US-based General Chemical Industrial Products Inc (GCIP) for over US$1 billion. The company said it has entered into definitive agreements for...

TAIWAN CONSTRUCTION AGENCY TO SPEND US$382 MLN IMPROVING SEWERS.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The Construction and Planning Agency under the Ministry of the Interior will invest an additional NT$12.3 billion (US$382 million) this year to expand the coverage of the country's sewer systems, officials said...

ACER FOUNDER TO VISIT PHILIPPINES TO PROMOTE ADOC 2.0.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - Acer founder Stan Shih's scheduled visit to Philippines March 5, will serve as a great opportunity to promote the second-phase "APEC Digital Opportunity Centre" (ADOC 2.0) initiative, an official of the Taiwanese...

TAIWAN TESTS DISPOSABLE CHOPSTICK IMPORTS FOR HARMFUL SUBSTANCES.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The Bureau of Standards, Metrology and Inspection will sample disposable chopstick imports starting February 1 to ensure they do not contain excessive traces of potentially harmful chemicals, officials said Thursday....

CHINESE AIRLINE GROUP GETS ROUTE TO TAIWAN BY ACQUISITION.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - A China-based airline group has indirectly obtained the right to fly its planes to Taiwan through acquiring a Hong Kong-based airline company, according to an Executive Yuan internal assessment report. Currently,...

TAIWAN FINDS WESTERN MEDICINE IN HERBAL MEDICINE FROM CHINA.
February 1, 2008... TAIPEI, Feb 1 Asia Pulse - The Consumers' Foundation has discovered that one out of four samples of herbal medicine from China contained Western medicine through inspections carried out in 2007, the foundation's president, Cheng Jen-hung, said...

AUSTRALIAN INTEREST RATES EXPECTED TO CLIMB AGAIN IN FEBRUARY.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Home owners struggling with mortgage repayments are tipped to cop yet another interest rate rise next week as the highest annual core inflation numbers in 16 years force the Reserve Bank of Australia to act. But...

INDIA'S GMR INFRA CONSORTIUM WINS NEPAL HYDRO CONTRACT.
February 1, 2008... MUMBAI, Feb 1 Asia Pulse - GMR Infrastructure (BSE:532754) on Thursday said a consortium led by its wholly-owned subsidiary GMR Energy has secured a contract from the Nepal government to develop a 300 MW hydroelectric project in that country....

STOCKS - TOKYO SHARES START SOFTER - FEB 1, 2008.
February 1, 2008... TOKYO, Feb 1 Asia Pulse - Tokyo shares began 0.55 per cent weaker Friday, with the Nikkei-225 index falling 74.43 points to 13,517.74 in early trade. ASIA PULSE 01-02 1117

FOREX - US DOLLAR OPENS FIRMER AGAINST WON - FEB 1, 2008.
February 1, 2008... SEOUL, Feb 1 Asia Pulse - The U.S. dollar opened at 944.0 won Friday, up from yesterday's close of 943.9 won. (Yonhap) 01-02 1119

HONG KONG NEWSPAPER HIGHLIGHTS - FEB 1, 2008.
February 1, 2008... HONG KONG, Feb 1 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST: - Hong Kong and mainland stocks completed one of their worst trading months yesterday as investors were unconvinced another US interest-rate cut...

CHINA REMAINS WORLD'S LARGEST STAINLESS STEEL PRODUCER IN 2007.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - China remained the world's number one producer of stainless steel last year, taking up more than one quarter of global output, figures from the China Iron and Steel Association (CISA) have shown. China churned...

CHINA'S OIL OUTPUT, CONSUMPTION BOTH HIT RECORD HIGHS IN 2007.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - China scored new highs both in oil output and consumption in 2007, boosted by the robust growth momentum of its economy. Sources with the China Petroleum and Chemical Industry Association, the industrial...

INDIAN STEELMAKER JSW TO LIST UNIT IN LONDON.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Indian steelmaker JSW (BSE:500228) is planning to list an international mining unit in London, the first ever move by an Indian steel major, according to a leading British business daily. "JSW Steel is...

GIANT DRUGMAKER TO GIVE FREE CANCER DRUG TO THAI PATIENTS.
February 1, 2008... BANGKOK, Feb 1 Asia Pulse - In a major breakthrough on the final days of the outgoing interim government, a giant pharmaceutical firm has agreed to provide a life-saving drug, Imatinib, free, to cancer patients under the universal healthcare...

CHINA'S JAN CPI RISE SEEN TO HOLD STEADY AT 6.5% DESPITE SNOW.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Despite heavy snow in most parts of southern China, the country's consumer price index (CPI) may grow 6.5 per cent year-on-year in January, roughly the same as the December, Chen Xiwen, head of the Office of the...

ASIA-PAC INVESTORS BELIEVE THAI INVESTMENT CLIMATE WILL IMPROVE.
February 1, 2008... BANGKOK, Feb 1 Asia Pulse - Most investors in Asia-Pacific countries are confident that the overall investment atmosphere in Thailand this year will improve from that of last year, according to a survey of opinions by ING Group. ING Funds...

HOUSING PRICES IN MAJOR CHINESE CITIES CLIMB 10.2 PCT IN Q4.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Housing prices continued to soar in China's major cities in the fourth quarter, official figures released on Thursday show. The average housing price in China's 70 large-and medium-sized cities climbed 10.2 per...

UAE CENTRAL BANK CUTS INTEREST RATE TO 3.0 PCT.
February 1, 2008... ABU DHABI, Feb 1 Asia Pulse - The Central Bank of the UAE has announced that it has lowered the interest rate on its repurchase of Central Bank CDs (Repo) from 3.50 per cent to 3 per cent from Thursday. A bank press release said today the...

CHINESE AIR FORCE FLIES RELIEF MATERIALS TO SNOW-HIT AREAS.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - By 6 p.m. Thursday, four Chinese air force Ilyushin II-76 military transport aircraft had finished their missions of flying relief materials to southern areas affected by severe winter weather. The People's...

VIETNAM IND. ZONE OPERATOR POSTS US$48.4 MLN IN Q4 EARNINGS.(Financial report)
February 1, 2008... HANOI, Feb 1 Asia Pulse - The Song Da Industrial Zone and Urban Development and Investment JSC (Sudico) generated a turnover of 379.36 billion VND (US$23.8 million) in the fourth quarter last year, an increase of 25.6 per cent over the same...

GERMANY ENCOURAGES BUSINESSES TO INVEST IN VIET NAM.
February 1, 2008... BERLIN, Feb 1 Asia Pulse - Viet Nam is an appealing destination for German businesspeople, an official from the German Industry and Commerce Viet Nam (GICVN) said. At a symposium on the Vietnamese economy and opportunities in Vietnamese...

VIETNAM'S LARGEST DIAMOND TRADING CENTRE OPENS.
February 1, 2008... HANOI, Feb 1 Asia Pulse - Vietnam's largest diamond trading centre, Diamond House, has opened at 44 Le Ngoc Han street, Hanoi. The centre has over 3,000 types of diamond jewelry. The Gold, Silver, Gemstone and Investment Joint Stock...

STOCKS - SEOUL SHARES OPEN HIGHER - FEB 1, 2008.
February 1, 2008... SEOUL, Feb 1 Asia Pulse - South Korean stocks opened substantially higher Friday as foreign and retail investors snapped up shipbuilder, construction and other large-cap issues, analysts said. The benchmark Korea Composite Stock Price Index...

CHINESE ASS'N DENIES RUMOURS OF "CEILING" IN IRON ORE TALKS.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - The China Iron and Steel Association has denied market rumour that it has set a 30 per cent ceiling price rise in talks with iron ore suppliers, according to a report in Thursday's China Securities Journal. ...

CABLE DISRUPTION IN THE MED DISRUPTS INTERNET SERVICES IN INDIA.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - Internet services have been disrupted throughout India on Friday following a major international cable breakdown in the Mediterranean sea. Nearly 50-60 per cent capacity remained down in the country following...

VIETNAMESE CO COMPLETES SECOND 53,000 TONNE FREIGHTER.
February 1, 2008... QUANG NINH, Feb 1 Asia Pulse - The Ha Long Shipbuilding Company in the northern province of Quang Ninh on January 31 handed over the key of a 53,000 tonne freighter, the second of its kind so far, to the Graig group of the UK. The Blue...

CHINA MOBILE ADDS 10 YUAN TO STRANDED PASSENGERS' ACCOUNTS.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Train services have been interrupted by snow, but China is making sure that telecommunications services don't suffer the same fate. State-owned China Mobile (SEHK:0941, NYSE:CHL) has added 10 yuan (US$1.39) to...

AUSTRALIA NEEDS TO RECONSIDER PACIFIC GUESTWORKERS: WORLD BANK.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The World Bank says it is only a matter of time before Australia will be forced to reconsider a Pacific Islands guest worker scheme. Australia has again ruled out such a scheme, following yet another call for its...

CHINESE PRESIDENT URGES COAL MINES, PORTS TO SAFEGUARD SUPPLY.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Chinese President Hu Jintao on Thursday urged the safeguarding of the production and transport of coal for power generation, in light of the severe weather affecting much of the country. Hu spoke during an...

PAKISTAN FACILITATES FOREIGN INVESTMENT IN AGRICULTURE.
February 1, 2008... ISLAMABAD, Feb 1 Asia Pulse - Caretaker Federal Minister for Food & Agriculture, Prince Muhammad Isa Jan Baloch says Pakistan attaches top most priority to facilitate foreign investment in every field, especially in the agriculture sector. ...

PAKISTAN, AUSTRALIA INK WATER MANAGEMENT ACCORD.
February 1, 2008... ISLAMABAD, Feb 1 Asia Pulse - Pakistan and Australia Wednesday signed an agreement, "Optimal Usage and Management of Canal and Groundwater in Punjab," worth Rs 134 million (US$2.13 million) to ensure equitable water distribution. Under the...

SINOPEC, SAUDI BASIC INDUSTRIES TO BUILD US$1.7 BLN JV PLANT.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Saudi Basic Industries Corporation (SABIC) said it signed Thursday a framework agreement with China Petroleum and Chemical Corporation (Sinopec) (SEHK:0386, SSX:600028, NYSE:SNP, LSE:SNP) to build an ethylene...

HOPES REVIVE ON IRAN-PAKISTAN-INDIA GAS PIPELINE DEAL.
February 1, 2008... NEW DELHI, Feb 1 Asia Pulse - In a major initiative that could culminate in clinching of 2,300km trans-border Iran, Pakistan, India (IPI) gas pipeline, Indian Petroleum & Natural Gas Minister Murli Deora is likely to visit Pakistan in February...

DOMESTIC CONSUMPTION DRIVES CHINA'S GDP FOR 1ST TIME.
February 1, 2008... BEIJING, Feb 1 Asia Pulse - Domestic consumption has replaced investment to become the biggest driver of China's economic growth for the first time in seven years. Last year, domestic consumption contributed 4.4 percentage points to the...

PAKISTAN STATE BANK SETS UP DEPT TO HANDLE CONSUMER COMPLAINTS.
February 1, 2008... KARACHI, Feb 1 Asia Pulse - State Bank of Pakistan has created new department to deal with complaints regarding consumer banking. The SBP has witnessed an unprecedented growth in consumer banking, which has led to manifold increase in the...

VIETNAM STOCK MARKETS SHOW MIXED TREND WITH SMALL CHANGES.
February 1, 2008... HANOI, Jan 31 Asia Pulse - The VN-Index rallied slightly by 1.01 points while HaSTC-Index fell by 2.54 points at the close of the January 31 trading session. VN-Index of the Ho Chi Minh City Stock Exchange finished at 844.11 points with...

US$3.41 MLN CARBON DIOXIDE PLANT APPROVED FOR KARACHI.
February 1, 2008... KARACHI, Feb 1 Asia Pulse - The Board of Directors of BOCP, in its meeting Wednesday, approved an investment of Rs 214 million (US$US$3.41 million) for the installation of a 23 ton per day (TPD) Carbon Dioxide (CO2) plant at Port Qasim where...

SYDNEY AIRPORT DEFENDS ROLE IN JETSTAR PASSENGER LOCKOUT.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - Sydney Airport has defended its role in a lockout of hundreds of passengers stranded by flight cancellations in the wake of a wild electrical storm last night. Marooned Jetstar passengers complained they were left...

VICTORIAN TREASURER DEFENDS LIFTING OF CAP ON LAND TAX RISES.
February 1, 2008... MELBOURNE, Feb 1 Asia Pulse - Victorian Treasurer John Lenders has defended the lifting of a cap on land tax rises, saying the measure was always a temporary solution. The government introduced a cap in 2006, shortly before the state...

CHINA, INDIA FUEL RAPID GROWTH IN ASIA-PACIFIC AVIATION.
February 1, 2008... CANBERRA, Feb 1 Asia Pulse - Aviation in the Asia-Pacific region continues to grow at a rapid rate thanks to the expansion of China and India, new figures show. The passenger sector grew at 7.3 per cent in 2007, the International Air...

NEPALI VILLAGERS AVOID POWER CUTS, PRODUCE THEIR OWN ELECTRICITY.
February 1, 2008... KATHMANDU, Feb 1 Asia Pulse - Located 50km from Nepal's biggest hydroelectric project on the Kali Gandaki which generates 144 megawatts of power, Palpa's villagers sent petitions to Kathmandu to be hooked up to the grid. But the NEA didn't...

JAPANESE-INDONESIAN BANK RESONA TO ISSUE US$50 MLN IN BONDS.
February 1, 2008... JAKARTA, Feb 1 Asia Pulse - Bank Resona Perdania plans to issue foreign currency bonds worth US$50 million and medium-term notes worth Rp200 billion (US$21.6 million) this year to finance its business expansion. "Part of the funds would...

STOCKS - AUSTRALIAN SHAREMARKET STRONGER AT NOON - FEB 1, 2008.
February 1, 2008... PERTH, Feb 1 Asia Pulse - The Australian sharemarket was stronger at noon, up almost two per cent, following a strong US lead overnight. At 1201 AEDT, the benchmark S&P/ASX200 was up 107.3 points to 5,757.5, and the broader All Ordinaries...

FOREX - AUSTRALIAN DOLLAR FIRMER AT NOON - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The Australian dollar was firmer at noon, although off its morning highs, after a rebound in investor confidence overnight boosted demand for the local currency. At 1200 AEDT, the Australian dollar was trading at...

AUSTRALIAN BOND MARKET WEAKER AT NOON - FEB 1, 2008.
February 1, 2008... SYDNEY, Feb 1 Asia Pulse - The Australian bond market was weaker at noon. At 1200 AEDT, the yield on the Commonwealth Government February 2017 bond was at 6.120 per cent, up from yesterday's close of 6.093 per cent, while the August 2010...

SOUTH KOREA'S TRADE DEFICIT WIDENS IN JANUARY.
February 1, 2008... SEOUL, Feb 1 Asia Pulse - South Korea's trade deficit widened in January from the previous month as imports grew at a much faster pace than exports, due mainly to high-flying crude prices, a government report showed Friday. The country's...