AsiaPulse News articles from June 2002

AsiaPulse News archives from June 2002

INDIA'S HPCL TO SET UP IMPORT TERMINAL AT MUNDRA PORT.
June 1, 2002... AHMEDABAD, June 1 Asia Pulse - Hindustan Petroleum Corporation Ltd (BSE:HPCL) has tied up with Gujarat Adani Port Ltd to set up a Rs 3.5 billion (US$71.57 million) oil import terminal at Mundra port to store crude for supply to the proposed...

INDIAN GOVT REVERTS TO OLD SYSTEM OF SELLING GRAINS TO EXPORTERS.
June 1, 2002... NEW DELHI, June 1 Asia Pulse - The Indian government has decided to revert to the earlier mechanism used for the subsidised sale of wheat and rice to exporters, and said it would try to determine whether the system could be considered World...

PAKISTAN & KUWAIT RATIFY DOUBLE TAXATION AVOIDANCE PACT.
June 1, 2002... ISLAMABAD, June 1 Asia Pulse - The Pakistan government has announced the ratification of a double-taxation avoidance agreement with Kuwait signed four years ago. The agreement will be retrospectively effective from January 1, 1999. ...

PAKISTANI NEWSPAPER HIGHLIGHTS - JUNE 1, 2002.
June 1, 2002... KARACHI, June 1 Asia Pulse - Highlights of Saturday's newspapers: DAWN - G8 wants check on terrorist groups - India advised to grab Almaty opportunity - Foreigners urged to leave India - Israeli spy satellite to help...

INDONESIAN HOTELS REPORT ONGOING DECLINE IN OCCUPANCY RATES.
June 1, 2002... JAKARTA, June 1 Asia Pulse - Indonesian hotel operators have reported a slide in occupancy rates, while higher electricity fuel prices push operating costs up. A hotel owner said the occupancy rate at star-rated hotels now averages 40 per...

STOCKS - MUSCAT SHARES CLOSE HIGHER - JUNE 2, 2002.
June 2, 2002... MUSCAT, June 2 Asia Pulse - The Muscat Stock Market (MSM) general price index rose by 0.47 points Sunday to close at 182.45 points. A total of 1,870,107 stocks and 882.600 bonds worth RO. 3,658,384 were traded through 522 deals. The...

OPEN - ASIA PULSE INTERNATIONAL - JUNE 3, 2002.
June 3, 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 DOWN - JUNE 3, 2002.
June 3, 2002... SYDNEY, June 3 Asia Pulse - The Australian dollar opened weaker this morning after coming close to passing the $US0.5700 level over the weekend. At 0700 AEST the Australian dollar was worth $US0.5656/61 compared to 0.5682/87 at Friday's...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - JUNE 3, 2002.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Highlights of today's newspapers: THE SYDNEY MORNING HERALD: - Lawyers will used injured clients as part of a campaign to thwart the NSW government's public liability laws - Australia-first operation for...

INDIAN EXPORTERS ASK GOVT NOT TO LOWER DUTY DRAWBACK RATES.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - Exporters said on Friday that the Indian government should not lower the duty drawback rates in view of the dismal export scenario, as such a move could have an adverse impact. The government is likely to...

INDIAN COURT DISMISSES PEPSI'S PETITION AGAINST COKE CAMPAIGN.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - Coca-Cola India said the Delhi High Court had dismissed Pepsi's petition seeking an injunction against the Coke 'Thums Up Taste Challenge' campaign. According to a Coca Cola statement, a Division Bench...

ADB LOAN PROJECT - PAKISTAN, SCHOOLS.
June 3, 2002... *** Asia Pulse Tender *** ***************************************************** ASIAN DEVELOPMENT BANK BUSINESS OPPORTUNITIES LOAN PROJECTS MAY 2002 ***************************************************** PAKISTAN LOAN:...

ADB LOAN PROJECT - NEPAL, PUBLIC SECTOR MANAGEMENT.
June 3, 2002... *** Asia Pulse Tender *** ***************************************************** ASIAN DEVELOPMENT BANK BUSINESS OPPORTUNITIES LOAN PROJECTS MAY 2002 ***************************************************** NEPAL LOAN:...

ADB TECHNICAL - BHUTAN, DEBT MANAGEMENT.
June 3, 2002... *** Asia Pulse Tender *** ***************************************************** ASIAN DEVELOPMENT BANK BUSINESS OPPORTUNITIES TECHNICAL ASSISTANCE PROJECT - ADVISORY MAY 2002 ...

INDIAN GOVT URGED TO INCREASE PUBLIC INVESTMENT, EFFICIENCY.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - India needs to increase public investment significantly and reduce the time lag in implementing major projects in order to achieve an investment rate of 28.41 per cent and a gross domestic product (GDP) growth...

INDIA'S IDBI DISCUSSES IDBI BANK SHARE SALE WITH LOCAL COS.
June 3, 2002... MUMBAI, June 3 Asia Pulse - The Industrial Development Bank of India (BSE:IDBI) is in discussion with 2 foreign investors on the possible sale of least 20 per cent of its shares IDBI Bank (BSE:IDBK) to either or both of the companies. "We...

WTO DEPUTY SECRETARY-GENERAL ARRIVES IN TAIWAN.
June 3, 2002... TAIPEI, June 3 Asia Pulse - World Trade Organization Deputy Secretary-General Ablasse Ouedraogo has arrived in Taiwan for a week-long visit at the invitation of the Board of Foreign Trade. BOFT officials said Ouedraogo is the...

TAIWAN'S FLOWER PRODUCTION TO HIT US$584.79 MLN BY 2007: COA.
June 3, 2002... TAIPEI, June 3 Asia Pulse - The value of Taiwan's annual flower production is expected to reach NT$20 billion (US$584.79 million) in the next five years, Council of Agriculture Affairs Chairman, Fan Cheng-chung, said Sunday. Fan made the...

TAIWAN TRADE MISSION SEEKS BUSINESS OPPORTUNITIES IN SE ASIA.
June 3, 2002... TAIPEI, June 3 Asia Pulse - A mission led by Taiwan's Vice Economics Minister Shih Yen-hsiang has left on a tour of Vietnam, Thailand, Malaysia and Indonesia to seek trade opportunities in the Southeast Asian countries. The mission is part...

DELEGATION OF EU THINK TANK MEMBERS ARRIVES IN TAIWAN.
June 3, 2002... TAIPEI, June 3 Asia Pulse - A five-member delegation of scholars from various European Union think tanks has arrived in Taiwan for a six-day visit. The delegates are Frank Delmartino, research director of the Institute of European Policy...

INDIAN GOVT APPROVES SALE OF 4 ITDC HOTELS.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - The Indian government has approved bids for the sale of four India Tourism Development Corp (BSE:ITDC) hotels at Kovalam, Kolkata, Aurangabad and Manali for over Rs 850 million (US$17.38 million). Announcing...

DELHI COURT STARTS FOREIGN EXCHANGE CASE AGAINST NESTLE.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - In what may be one of the last cases under the Foreign Exchange Regulation Act before it passes into oblivion, a Delhi court has issued summons to Nestle India Ltd (BSE:NEST) and 3 of its top executives for...

ADB TECHNICAL - FIJI, RURAL ELECTRIFICATION.
June 3, 2002... *** Asia Pulse Tender *** *************************************************** ASIAN DEVELOPMENT BANK BUSINESS OPPORTUNITIES TECHNICAL ASSISTANT PROJECT - PROJECT PREPARATION MAY 2002 ...

INDIAN LAW, FINANCE MINSTRIES IRON OUT DIFFERENCES OVER SEBI ACT.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - India's Finance and Law ministries have ironed out their differences over whether to provide more search and seizure powers to market regulator the Securities and Exchange Board of India to minimise the recurrence...

INDIAN LAW, FINANCE MINISTRIES IRON OUT DIFFERENCES ON SEBI ACT.
June 3, 2002... NEW DELHI, June 3 Asia Pulse - India's Finance and Law ministries have ironed out their differences over whether to provide more search and seizure powers to market regulator the Securities and Exchange Board of India to minimise the recurrence...

IRAN EXPORTS US$6.2 BLN OF NON-OIL GOODS, SERVICES LAST YEAR.
June 3, 2002... TEHRAN, June 3 Asia Pulse - Iran exported over US$6.243 billion worth of non-oil goods and services in the last Iranian calendar year of 1380 ended March 20, the Public Relations Department of the Commerce Ministry announced on Saturday. ...

IRANIAN COOPERATIVE TO BUILD 20,000 RESIDENCES IN MADAGASCAR.
June 3, 2002... TEHRAN, June 3 Asia Pulse - An Iranian cooperative company has won a contract to build 20,000 residential buildings in Madagascar at an estimated cost of about US$6 million, said Ebrahim Tehrani, deputy secretary general of Iran's Chamber of...

IRANIAN PRESIDENT CALLS FOR MORE INTL TECHNOLOGY TRANSFER.
June 3, 2002... TEHRAN, June 3 Asia Pulse - Iranian President Mohammad Khatami said that more transfers of technology from the developed nations would help remove the backwardness in developing countries. In a meeting with Director-General of the United...

SECOND IRAN-AFGHANISTAN TRANSIT BORDER OPENS.
June 3, 2002... TEHRAN, June 3 Asia Pulse - A second border for international transit between Iran and Afghanistan was inaugurated in the region of Milak by Iranian Minister of Road and Transportation Ahmad Khorram and Afghan Minister of Public Works Abdul...

IRAN TO EXPAND COOPERATION WITH UNIDO.
June 3, 2002... TEHRAN, June 3 Asia Pulse - Iranian Minister of industry and Mines Ishaq Jahangiri met with visiting Executive Director of the United Nations Industrial and Development Organization (UNIDO) Carlos Alfredo Magarinos over the weekend to review...

AUSTRALIA'S TETHYAN COPPER TO COMPLETE PAKISTAN STUDY BY DEC.
June 3, 2002... ISLAMABAD June 3 Asia Pulse - The Australian mineral exploration company Tethyan Copper Company (TCC) Limited is expected to complete a feasibility study for the development of copper resources at Reko Diq at Chagai in Balochistan by the end of...

PAK-LIBYA DIRECTORS APPROVE FINANCING FOR SEVEN PROJECTS.
June 3, 2002... KARACHI, June 3 Asia Pulse - The Board of directors of Pak-Libya Holding Company (Pvt) Limited have approved financing of Rs395 million (US$6.59 million) for seven projects. A company statement said that the 62nd Board meeting held in...

ADB TECHNICAL - BHUTAN, MONETARY AUTHORITY.
June 3, 2002... *** Asia Pulse Tender *** ************************************************ ASIAN DEVELOPMENT BANK BUSINESS OPPORTUNITIES TECHNICAL ASSISTANCE PROJECT - ADVISORY MAY 2002 ************************************************ ...

JAPAN TO EVALUATE FOUR PAKISTANI INDUSTRIAL PROJECTS.
June 3, 2002... ISLAMABAD, June 3 Asia Pulse - The Japanese government will soon start evaluating four industrial projects in Pakistan to be undertaken with a $15 million grant from Japan. This was stated by Shun Imaizumi, Executive Vice-President of...

PAKISTAN TRADE TEAM GETS EXPORT CONTRACTS IN AUSTRALIA.
June 3, 2002... KARACHI, June 3 Asia Pulse - A 10-member Pakistani trade delegation led by Export Promotion Board (EPB) vice-chairman Ejaz Ahmad Qureshi picked up several export contracts have during a visit to Australia and New Zealand between May 4 and May...

PAKISTAN & US TO SIGN DEBT RESTRUCTURE DEAL UNDER PARIS CLUB.
June 3, 2002... ISLAMABAD, June 3 Asia Pulse - Pakistan and the United States will sign a US$3 billion debt restructuring accord in June under a Paris Club arrangement. "Three more debt rescheduling pacts worth over $1.5 billion are expected to be signed...

PAKISTAN'S OCAC RAISES OIL PRICES FURTHER.
June 3, 2002... KARACHI, June 3 Asia Pulse - The Oil Companies Advisory Committee (OCAC) has raised the prices of diesel and petrol by another 4.48 per cent and 0.80 per cent respectively. The prices of HOBC and light diesel oil were also increased by 0.97...

STOCKS - AUSTRALIAN SHARES OPEN HIGHER - JUNE 3, 2002.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Australian share prices opened stronger this morning as buying in News Corp and Telstra balanced out weaker banks and resources. The benchmark S&P/ASX 200 index was up 0.9 points at 3374.5 at 1015 AEST while the...

PAKISTAN PETROLEUM LIMITED SELL-OFF DELAYED FOR TWO YEARS.
June 3, 2002... ISLAMABAD, June 3 Asia Pulse - The Pakistan government has decided to put on hold the privatisation of Pakistan Petroleum Limited (PPL) for one or two years to give it time to benefit from the 140 per cent increase in gas prices. Official...

INDEX SHOWS RISE IN AUSTRALIAN INTERNET JOB ADS IN MAY.
June 3, 2002... MELBOURNE, June 3 Asia Pulse - Online job advertisements rose 4.6 per cent in Australia last month, according to the Olivier Internet Job Index for May. There has been a 36.64 per cent increase in jobs since the index hit rock bottom in...

PICK N PAY WOULD CONSIDER BUYING AUSTRALIA'S BI-LO SUPERMARKETS.
June 3, 2002... MELBOURNE, June 3 Asia Pulse - Pick `n' Pay, the South African supermarket chain operator that bought the Franklins chain, said it would consider buying discount store Bi-Lo as well if the opportunity arose. Franklins chief executive Sean...

AUSTRALIA'S AUSDRILL SHUTS DOWN CHILEAN OPERATIONS.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Ausdrill Ltd (ASX:ASL) has announced plans to close its operations in Chile immediately. The drilling contractor said on Friday night that it expected the closure to be both cash and profit neutral. "The...

INDONESIA CONTESTS MALAYSIA'S CLAIM TO SIPADAN, LIGITAN ISLANDS.
June 3, 2002... JAKARTA, June 3 Asia Pulse - Indonesia has set up a special task force to fight to regain Sipadan and Ligitan islands, which have been claimed by Malaysia. Foreign Ministry spokesman Marty Natalegawa said in a press briefing here over the...

AUSTRALIAN RESIDENTIAL PROPERTY MARKET PREDICTED TO SLOW.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Despite a projected slowdown in Australia's residential property market during this year and next year, house prices are expected to keep rising, according to a new report. And Sydney's lead on the country's...

AUSTRALIA'S AUSDOC DISCUSSES SALE OF DX EXPRESS, OTHER UNITS.
June 3, 2002... BRISBANE, June 3 Asia Pulse - AUSDOC Group Ltd (ASX:AUD) has started negotiating with a potential buyer of its DX Express, Go Mailroom management business and Australian Document Exchange (Go First) businesses. AUSDOC said it had decided...

AUSTRALIAN PM WARNS OF NEW RATE RISES.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Australian borrowers should expect to see more interest rate rises this year, said Prime Minister John Howard, although he also warned the Reserve Bank not to go too far. The Reserve Bank meets tomorrow to...

NIKKEI WEEKLY HIGHLIGHTS - JUNE 3, 2002.
June 3, 2002... TOKYO, Jun 3 Asia Pulse - Highlights of today's issue of the Nikkei Weekly: FRONT - Matsushita shows tradition the door - Food safety places high on to-do list - Markets shrug off sovereign debt downgrade - Risk-averse...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - JUNE 3, 2002.
June 3, 2002... TOKYO, June 3 Asia Pulse - Highlights of today's morning edition of the Nihon Keizai Shimbun (Nikkei): - Tokio Marine To Ally With Top Nonlife Insurers In China, S Korea - Nasdaq To End Tie-Up With Osaka Bourse - Failed Taisei Fire...

WAL-MART BUYS INTO JAPAN'S SEIYU THROUGH PRIVATE PLACEMENT.
June 3, 2002... TOKYO, June 3 Asia Pulse - Wal-Mart Stores Inc has acquired a 6.1 per cent stake in major Japanese supermarket operator Seiyu Ltd (TSE:8268) through a third-party allocation of new shares by Seiyu. The transaction, completed Friday, is part...

FIVE RAILWAYS IN JAPAN POST LOSS ON LARGER RESTRUCTURING COSTS.
June 3, 2002... TOKYO, June 3 Asia Pulse - Five of Japan's 15 major private railways posted group net losses in the year ended March due mainly to disposal of paper losses on landholdings as well as heavy restructuring costs related to the closure of...

INDONESIAN GOVT TO BUILD TRANS-KALIMANTAN HIGHWAY.
June 3, 2002... JAKARTA, June 3 Asia Pulse - The Indonesian government has announced plans to build a 6,000-km Trans-Kalimantan (Borneo) Highway for a total investment of Rp 25 trillion (around US$2.84 billion). Resettlement and Regional Infrastructure...

JAPAN TOBACCO TO SET UP FROZEN VEGETABLE VENTURE IN SHANGHAI.
June 3, 2002... TOKYO, Jun 3 Asia Pulse - Japan Tobacco Inc (TSE:2914) has announced plans to set up a venture to process frozen vegetables in Shanghai, aiming at starting shipments to Japan in January 2003. The company will establish a joint venture with...

BIG KOREAN CORPORATIONS SEEK TO ATTRACT ELITE STAFF.
June 3, 2002... SEOUL, June 3 Asia Pulse - Korea's large corporations are going all out to attract an elite work force. According to business circles Monday, leading business groups, including Samsung (KSE:00830), LG, SK (KSE:03600), Hyundai Motor...

JAPAN INTERVENES IN FOREX MARKET, BUYING BILLIONS OF DOLLARS.
June 3, 2002... TOKYO, June 3 Asia Pulse - In a bid to avert a further rise in the yen, Japan's monetary authorities intervened in the currency market Friday for the third time this month to support the dollar. The yen-selling/dollar-buying intervention is...

JAPAN AIRLINES, AMERICAN AIRLINES TO EXPAND TIES, CODE-SHARING.
June 3, 2002... TOKYO, June 3 Asia Pulse - Japan Airlines Inc (TSE:9201) and American Airlines Inc have agreed to further their collaboration, American Airlines Chief Executive Officer Donald Carty told a news conference here Friday. He and JAL President...

JAPANESE PM URGES FLEXIBILITY ON BILLS.
June 3, 2002... SEOUL, June 3 Asia Pulse - Prime Minister Junichiro Koizumi on Friday said debate on key bills in the current Diet session should be "flexible." Koizumi's comment, made while flying to South Korea to attend the opening ceremony of the...

JAPAN'S TOYO ENGINEERING WINS SAUDI ETHYLENE PLANT CONTRACT.
June 3, 2002... TOKYO, June 3 Asia Pulse - Toyo Engineering Corp (TSE:6330) has won a contract from Saudi Basic Industries Corp (Sabic) to build a petrochemical plant. The value of the order has not been disclosed, but is estimated at around Y27 billion...

ISDN CLIENTS OF JAPAN'S NTT EAST, NTT WEST DECLINE IN BIG CITIES.
June 3, 2002... TOKYO, June 3 Asia Pulse - The regional carriers of Nippon Telegraph and Telephone Corp (TSE:9432) -- NTT East Corp. and NTT West Corp -- have reported a drop in the number of residential ISDN subscribers in Tokyo, Osaka and other major...

KOREAN NEWSPAPER HIGHLIGHTS - JUNE 3, 2002.
June 3, 2002... SEOUL, June 3 Asia Pulse - Highlights of today's newspapers: DONG-A ILBO - England draws Sweden 1-1 in Sunday 'Group of Death' match in Saitama Stadium, Japan - Abusive attacks between rival parties rampant in local election...

JAPAN MAY RAISE TAXES ON LOW-MALT BEER AFTER PRICE CUTS.
June 3, 2002... TOKYO, June 3 Asia Pulse - The recent trend among major breweries of lowering the prices of their low-malt beer products may rekindle discussions on raising taxes on the beverage. Asahi Breweries Ltd (TSE:2502) will reduce the prices of its...

JAPAN'S MINOLTA TO INTEGRATE CAMERA SALES, PRODUCTION DIVISIONS.
June 3, 2002... TOKYO, June 3 Asia Pulse - Minolta Co (TSE:7753) is to integrate its camera sales and production divisions in Japan as part of a strategy to turn its money-losing camera operations around. The plan involves reorganising sales structures in...

JAPAN'S OTC-LISTED CHIP-TRADING FIRMS EYE HIGHER PROFITS, SALES.
June 3, 2002... TOKYO, June 3 Asia Pulse - The seven leading semiconductor-trading firms listed on the Jasdaq over-the-counter market are expected to show higher revenues and profits in fiscal 2002. The brighter outlook reflects the bottoming out of the...

STOCKS - KOREAN SHARES OPEN WEAKER - JUNE 3, 2002.
June 3, 2002... SEOUL, June 3 Asia Pulse - Share prices on the Korean Stock Exchange started the week on a low note, affected by program selling, volatile US stocks and lingering concern about the strong won. The benchmark Korea Composite Stock Price Index...

KOREA'S DOOSAN PREPARING TO RE-ENTER LOCAL WHISKEY MARKET.
June 3, 2002... SEOUL, June 3 Asia Pulse - Doosan Corporation (KSE:00150) is preparing to re-enter the Korean whiskey market in September, local liquor industry sources said Monday. Doosan has already reached an import accord with Morison Bormow of...

JAPAN GOVT TENDER - FLUOROGRAPHY SYSTEM.
June 3, 2002... ***** ASIA PULSE TENDER ***** NATIONAL SANATORIUM TOKYO HOSPITAL TO PROCURE FLUOROGRAPHY SYSTEM AND OTHERS The following is a procurement notice published in the Kanpo Japanese government gazette on May 23: (1) Official in...

EXCHANGE RATE OF INDONESIA'S RUPIAH EXPECTED TO REMAIN STABLE.
June 3, 2002... BANDUNG, W Java, June 3 Asia Pulse - The rupiah's exchange rate against the US dollar is likely to remain relatively stable over the next couple of months, Bank Indonesia governor Syahril Sabirin said over the weekend. Syahril said the...

VODAPHONE AUSTRALIA RULES OUT MERGER WITH HUTCHISON TELECOM.
June 3, 2002... MELBOURNE, June 3 Asia Pulse - Vodafone Australia would not be merging with rival Hutchison Telecommunications Ltd (ASX:HTA) as it has a sustainable business and expects continued growth, its managing director Grahame Maher said. "We don't...

JAPAN GOVT TENDER - VIDEO BRONCHOSCOPE SYSTEM.
June 3, 2002... ***** ASIA PULSE TENDER ***** NATIONAL SANATORIUM CHIBAHIGASHI HOSPITAL TO PROCURE VIDEO BRONCHOSCOPE SYSTEM AND OTHER The following is a procurement notice published in the Kanpo Japanese government gazette on May 23: (1)...

KOREAN CREDIT CARD COs TO TIGHTEN REQUIREMENTS FOR 20-SOMETHINGS.
June 3, 2002... SEOUL, June 3 Asia Pulse - Credit card operators in South Korea have announced plans to tighten conditions for issuing cards to those in their early 20s - limiting potential cardholders to the employed or those with regular incomes to help...

AUSTRALIAN AIRPORTS SHOULD NOT BLOCK NEW AIRLINES:MINISTER.
June 3, 2002... CANBERRA, June 3 Asia Pulse - Transport Minister John Anderson warned today that Sydney and Melbourne airports should not close the door to new entrants in their negotiations on the future of Ansett terminals. The Sydney and Melbourne...

KOREA TO LIMIT LARGE FIRMS INVOLVEMENT IN SMALL SOFTWARE BIZ.
June 3, 2002... SEOUL, June 3 Asia Pulse - The Korean government will restrict large companies' participation in small-scale software bids placed by the state or public organizations from next year, according to the Ministry of Information and Communication...

FOREX - U.S. DOLLAR EDGES UP MONDAY MORNING - JUNE 3, 2002.
June 3, 2002... SEOUL, June 3 Asia Pulse - The U.S. dollar gained marginally against the Korean currency as offshore traders adopted long positions. Opening at 1,229 won, the dollar slid to 1,228 won before jumping to 1,229.80 won as of 10:58 a.m., up...

FOOT-AND-MOUTH DISEASE BREAKS OUT AGAIN IN KOREA.
June 3, 2002... SEOUL, June 3 Asia Pulse - Another pig tested positive at a farm in Pyeongtaek, Gyeonggi Province, for foot-and-mouth disease, the Ministry of Agriculture and Forestry said Monday. The National Veterinary Research and Quarantine Service...

KOREA'S SAEHAN TO SELL PART OF INCHEON PLANT SITE TO PAY DOWN DEBT.
June 3, 2002... SEOUL, June 3 Asia Pulse - Saehan Media, now undergoing a debt workout program, said Monday that it signed a contract with two companies, including Hankook Electronic Co., and two individual buyers to sell part of its Incheon plant site for...

TAIWAN'S CPC, FORMOSA PETROLEUM ENGAGE IN PRICE WAR.
June 3, 2002... TAIPEI, June 3 Asia Pulse - Less than two hours after the Formosa Petroleum Corp. announced a price cut Friday for gasoline, diesel and bunker oil from June 1, a spokesman for the Chinese Petroleum Corp. said that the state-owned enterprise...

STOCKS - AUSTRALIAN STOCKS UP AT NOON - JUNE 3, 2002.
June 3, 2002... SYDNEY, June 3 Asia Pulse - Strength in market heavyweights News Corp, BHP Billiton and Telstra helped keep the Australian stock market in positive territory at noon. The benchmark S&P/ASX 200 was 11.7 points firmer at 3385.3 and the all...

FOREX - AUSTRALIAN DOLLAR WEAKER AT NOON - JUNE 3, 2002.
June 3, 2002... SYDNEY, June 3 Asia Pulse - The Australian dollar was weaker to noon as short term players took the opportunity to book some profit following last week's highs. Australia's bond market was also weaker on the back of expectations that the...

S KOREAN CRUISE SHIP TO DOUBLE MT GEUMGANG VOYAGES FROM TUES.
June 3, 2002... SEOUL, June 3 Asia Pulse - The cruise ship Solbong-ho, which ferries tourists up to North Korea's Mount Geumgang resort, will go from making 10 to 20 trips per month from Tuesday. An official from Hyundai Asan Co., which is in charge of the...

AUSTRALIAN BUILDING APPROVALS UP IN APRIL.
June 3, 2002... CANBERRA, June 3 Asia Pulse - Another burst of approvals to build home units and carry out alterations pushed building approvals to a two year high in April, official figures showed today. Allowing for seasonal influences, building...

TAIWAN'S ANNUAL INSURANCE VALUE 2.6 TIMES NATIONAL INCOME.
June 3, 2002... TAIPEI, June 3 Asia Pulse - Taiwan's total insurance policy value in 2001 increased 12.3 per cent compared to last year's figure to reach 2.6 times the national income, the Director General of Budget, Accounting and Statistics said Friday. ...

STOCKS - MALAYSIAN STOCKS UP IN EARLY TRADE - JUNE 3, 2002.
June 3, 2002... KUALA LUMPUR, June 3 Asia Pulse - The Malaysian sharemarket was up 0.4 per cent in early trade amid buying of selected bluechips, brokers said. At 10.41 a.m., the Kuala Lumpur Stock Exchange Composite Index rose 2.83 points at 744.59. ...

TAIWAN'S EXPORT-IMPORT BANK INKS AGREEMENT WITH EBRD.
June 3, 2002... TAIPEI, June 3 Asia Pulse - The Export-Import Bank of the Republic of China said Friday it signed an agreement with the European Bank for Reconstruction and Development (EBRD) May 24 to formally take part in its trade promotion projects. ...

INDONESIA'S PERTAMINA TO CONTINUE OPERATING IN EAST TIMOR.
June 3, 2002... PADANG, W Sumatra, June 3 Asia Pulse - Indonesia's state-owned oil company Pertamina will maintain its assets in East Timor and operate there as usual to meet the newly-independent country's energy needs, the company's chief said here Saturday....

TAIWAN'S CADF TO SELL OFF CHINA AIRLINES SHARES BY END OF 2003.
June 3, 2002... TAIPEI, June 3 Asia Pulse - The chief mission of the new board of the China Aviation Development Foundation (CADF) will be to sell off all of its shares in China Airlines (TAIEX:2610) (CAL) by the end of 2003, Minister of Transportation and...