AsiaPulse News articles from June 2003

AsiaPulse News archives from June 2003

TAIWAN'S DPP HOPES JOB-BOOSTING BUDGET CLEARS LEGISLATURE.
June 1, 2003... TAIPEI, June 1 Asia Pulse - Taiwan's Democratic Progressive Party (DPP) legislative caucus said it hopes that the opposition-controlled Legislative Yuan can pass before its recess the NT$78.4 billion (US$2.25 billion) budget plan for creating...

AUSTRALIA'S MEDIA OWNERSHIP LAWS UNLIKELY TO CHANGE: LABOUR.
June 1, 2003... CANBERRA, June 1 Asia Pulse - Plans to overhaul media ownership seemed unlikely to pass through the Senate to become law, Labor said yesterday. Opposition communications spokesman Lindsay Tanner said Labor remained absolutely opposed to...

KRISPY KREME OPENS FIRST OVERSEAS STORE IN AUSTRALIA TODAY.
June 1, 2003... SYDNEY, June 1 Asia Pulse - US doughnut maker Krispy Kreme will open its first store outside north America in Sydney's western suburbs today. The latest belt-loosening US food franchise to hit Australia aims to be the "company everyone in...

FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - JUNE 2, 2003.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The Australian dollar opened weaker from Friday's close as currency traders across the world wait and watch for any hint of direction coming out of the G8 summit in France. Leaders of the world's richest nations...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - JUNE 2, 2003.
June 2, 2003... SYDNEY, June 2 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH: - Women warned to stop smoking as it looms as Australia's number 1 killer of females. - Alleged Qantas flight hijacker distraught over looming...

XENICAL SIGNIFICANTLY IMPROVES METABOLIC SYNDROME ABNORMALITIES.
June 2, 2003... (For a full text of statement, contact www.asianet.com.au) HELSINKI, May 31 /PRNewswire-AsiaNet/ -- New Outcomes From The Landmark XENDOS Study Xenical(R) is significantly more effective than diet alone in reducing weight and...

LUFTHANSA, LUXAIR & AIR ASIA SELECT BRICE SEATING.
June 2, 2003... (Full text of a statement. Contact details below.) GREENSBORO, N.C., May 30 /PRNewswire-FirstCall-AsiaNet/ -- TIMCO Aviation Services, Inc. (OTC Bulletin Board: TMAS) announced that the Company's subsidiary, Brice Manufacturing (BRICE) has...

COTY SIGNS DEAL WITH LVMH TO PRODUCE & SELL LICENSED FRAGRANCES.
June 2, 2003... (Full text of a statement. Contact details below.) NEW YORK, May 30 /PRNewswire-AsiaNet/ -- Coty Inc. announced today that it has signed a contract to acquire the fragrances licenses of Kenneth Cole and Marc Jacobs, two leading...

STAR ALLIANCE WELCOMES NEWEST MEMBER - US AIRWAYS.
June 2, 2003... (Full text of a statement. Contact details below.) WASHINGTON, May 31 /PRNewswire - AsiaNet/ Addition Will Significantly Expand Star Alliance Network Throughout the Eastern United States The Chief Executive Board of Star Alliance...

AUSTRALIAN ECONOMY WEAKER IN MARCH QUARTER: SURVEY.
June 2, 2003... SYDNEY, June 2 Asia Pulse - Australia's economy was weaker in the March quarter, with the rate of growth predicted to have fallen below 3.0 per cent, according to the latest AAP survey. The AAP economic indicator for June showed gross...

AUSTRALIAN SHAREMARKET EXPECTED TO START WEEK ON POSITIVE NOTE.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The Australian sharemarket should get off to a positive start after offshore markets made strong gains over the course of last week. On Wall Street, stocks rose in heavy trading on Friday, giving the S&P 500 and...

REACTIONS TO ALLEGED HIJACKING COULD PARALYSE AVIATION: QANTAS.
June 2, 2003... MELBOURNE, June 2 Asia Pulse - Kneejerk responses to the alleged attempted hijacking of a Qantas (ASX:QAN) jet could paralyse Australia's aviation sector, Qantas chief executive officer Geoff Dixon warned yesterday. A raft of instant new...

AUSTRALIAN GOVT TO GIVE APS OFFICERS NEW SEARCH POWERS.
June 2, 2003... CANBERRA, June 2 Asia Pulse - The federal government today said it would be irresponsible not to give Australian Protective Service (APS) officers new powers to search people at airports. Justice Minister Chris Ellison yesterday announced...

AUSTRALIA'S DAVID JONES READY TO EXIT FOODCHAIN BUSINESS.
June 2, 2003... SYDNEY, June 2 Asia Pulse - Upmarket retailer David Jones Ltd (ASX:DJS) is reportedly ready to axe its troubled Foodchain outlets as part of a major strategic review. The move will mean another massive writedown for the group, which has...

BHP STEEL EXTENDS ROLL-FORMING FACTORY IN THAILAND.
June 2, 2003... SYDNEY, June 2 Asia Pulse - BHP Steel Ltd (ASX:BSL) has extended its roll-forming factory in Kohn Kaen, Thailand. The BHP Steel Lysaght (Thailand) factory has provided Thailand's construction industry with steel roofing and building...

AUSTRALIAN AUTOMOTIVE ELECTRONICS WORKERS STRIKE IN MELBOURNE.
June 2, 2003... MELBOURNE, June 2 Asia Pulse - Workers at a Melbourne automotive electronics factory went on a 24-hour strike today after they were refused a six per cent pay rise, the manufacturing union said. About 2,000 workers at Robert Bosch in...

SENIOR OFFICIALS OF APEC ECONOMIES ADOPT ANTI-SARS ACTION PLAN.
June 2, 2003... KHON KAEN, Thailand, June 2 Asia Pulse - Senior officials from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) forum, including Taiwan, adopted an action plan on Friday to fight severe acute respiratory syndrome (SARS). ...

WESTERN PART OF TAIWAN'S SHUEISHAN MOUNTAIN TUNNEL COMPLETED.
June 2, 2003... TAIPEI, June 2 Asia Pulse - Taiwan Premier Yu Shyi-kun presided over the opening ceremony of the western section of the first highway tunnel which is part of a roadway that will stretch the length of the Shueishan mountain range in Ilan,...

TAIWAN'S Q2 OUTPUT OF CD ROMS EXPECTED TO DROP BY 10.3%.
June 2, 2003... TAIPEI, June 2 Asia Pulse - Affected by the outbreak and spread of severe acute respiratory syndrome (SARS) and sluggish business in the traditional low season, Taiwan's output of CD ROMs in the second quarter is expected to drop by 10.3 per...

TAIWAN MINISTER MEETS WITH DELEGATES ON APEC MEETING SIDELINES.
June 2, 2003... KHON KAEN, Thailand, June 2 Asia Pulse - Taiwan Minister of Economic Affairs Lin Yi-fu held bilateral talks with chief delegates of several countries Sunday on the sidelines of a trade ministers meeting of the Asia-Pacific Economic Cooperation...

DIALYSIS BECOMES FINANCIAL BURDEN FOR TAIWAN INSURANCE PROGRAM.
June 2, 2003... TAIPEI, June 2 Asia Pulse - Renal dialysis has become a heavy financial burden for the national health insurance program, local medical sources said yesterday. According to official tallies, the Bureau of National Health Insurance (BNHI)...

INT'L OIL PRICES RISE ON LOW U.S. STOCKPILES: KOREAN OIL CORP.
June 2, 2003... SEOUL, June 2 Asia Pulse - International crude oil prices climbed in overseas markets on concerns over the decline in U.S. petroleum goods demand and skepticism that Venezuela's production rate may fall below expectations, the state oil...

KOREA'S ROH VOWS TO REMOVE REGULATIONS TO BUOY BUSINESS.
June 2, 2003... SEOUL, June 2 Asia Pulse - President Roh Moo-hyun on Friday vowed to do away with ineffective regulations to revive the stagnant economy while heeding concerns about the overuse of business-invigorating measures at the same time. "The...

SEOUL STOCKS PROJECTED TO FLUCTUATE AROUND 630-POINT MARK.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Korean's main bourse is predicted to fluctuate around the 630-point mark this week, analysts said Saturday, adding that while the market could reach beyond that level, program selling is likely to burden the...

ARIRANG TV PROGRAMS TO BE SHOWN ON UNITED AIRLINES FLIGHTS.
June 2, 2003... SEOUL, June 2 Asia Pulse - Arirang TV, a state-run English-language cable network, said Saturday its programs will be shown on selected flights of the world second-largest air carrier, United Airlines, from June. The service will be...

TAIWAN LEGISLATORS VOICE DIFFERENT VIEWS ON ISSUE OF DEBT LIMIT.
June 2, 2003... TAIPEI, June 2 Asia Pulse - Days after the president's assertion that room still exists for the government to raise funds through the issuing of state bonds, legislators have expressed mixed views, indicating that the government debt issue is...

KOREAN GOV'T TO REVISE DOWN 2003 GROWTH FORECAST LATE THIS MONTH.
June 2, 2003... SEOUL, June 2 Asia Pulse - The Ministry of Finance and Economy said it plans to lower its economic growth forecast for 2003 to the 4-percent range late this month. The ministry, or the architect of the nation's economic policy, had earlier...

STOCKS - AUSTRALIAN SHARES OPEN HIGHER - JUNE 2, 2003.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The Australian stock market shot higher in early trade, inspired by strong gains on Wall Street last Friday. The benchmark S&P/ASX 200 index climbed 20.3 points to 3031.3 by 1015 AEST while the all ordinaries...

SKODA TO KICK OFF CKD OPERATION, LAUNCH LUXURY CARS IN INDIA.
June 2, 2003... NEW DELHI, June 2 Asia Pulse - The Indian subsidiary of Czech carmaker SkodaAuto on Friday said it has acquired 3,00,000 square metres of land in Aurangabad to assemble completely knocked down kits of its luxury cars in the country. The...

INDIAN INDUSTRY WANTS CURBS ON CHINESE GOODS ON GROUNDS OF SARS.
June 2, 2003... NEW DELHI, June 2 Asia Pulse - Alarmed at the large number of SARS (Severe Acute Respiratory Syndrome) cases in China, Indian industry has demanded curbs in import of plant and machinery from the neighbouring country, fearing spread of the...

AUSTRALIA'S TEXT MEDIA GROUP UPGRADES FY PROFIT FORECAST BY 5%.
June 2, 2003... SYDNEY, June 2 Asia Pulse - Australian junior publisher Text Media Group Ltd (ASX) today upgraded its full year profit forecast by another five per cent on the back of strong performances by its community newspapers. Text, whose flagship...

BSE ENDS WEEK HIGHER.
June 2, 2003... MUMBAI, June 2 Asia Pulse - Spurred by a sharp rally in old economy stocks in particular and PSU shares in general, the sensex jumped to a 10-week high at 3180.75 and the BSE-PSU index scaled a new peak at 2156.25 on the Mumbai Stock Exchange...

SOUTH KOREAN STATE OIL AGENCY TO IMPORT CRUDE FOR SK CORP.
June 2, 2003... SEOUL, June 2 Asia Pulse - The Korea National Oil Corp., South Korea's state oil agency, said it has decided to import crude oil worth around US$500 million on behalf of SK Corp. "The move is designed to help SK Corp. (KSE:03600), which is...

DSE ENDS WEEK FIRMER.
June 2, 2003... NEW DELHI, June 2 Asia Pulse - A few blue-chip old economy stocks firmed up on the Delhi Stock Exchange for the week ended May 30 following fresh purchases by member-brokers and investors. With transactions in stocks of Telco, State Bank of...

SOUTH KOREANS' OVERSEAS CREDIT CARD USE FALLS IN FIRST QUARTER.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Koreans' first quarter overseas credit card bills dropped 3.6 per cent from the last quarter of 2002 to US$610 million, the Bank of Korea said Sunday. The number of Koreans who used credit cards abroad also...

STOCKS - SOUTH KOREAN SHARES OPEN HIGHER - JUNE 2, 2003.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Korean stock markets started stronger Monday. The Korea Composite Stock Price Index, the price barometer of the Korea Stock Exchange, opened 10.51 points, or 1.66 per cent, higher from last week's close, at...

SINGTEL TO SELL YELLOW PAGES.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The Singapore Yellow Pages (SYP) operation of Singapore Telecommunications Ltd (ASX:SGT) is to be sold for S$220 million ($US126.8 million) to CVC Asia Pacific and JP Morgan Partners Asia LDC. The Yellow Pages...

KOREA'S MAY EXPORTS RISE 4.4 PCT; TRADE SURPLUS TOPS US$1.2 BLN.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Korea's exports rose only 4.4 per cent year-on-year in May, while its trade surplus reached US$1.26 billion, a provisional government tally showed yesterday. The Ministry of Commerce, Industry and Energy...

INDIAN EXPORTS OF MAN-MADE STAPLE FIBRES UP IN APR '02 - JAN '03.
June 2, 2003... NEW DELHI, June 2 Asia Pulse - Exports of manmade staple fibres during April 2002-January 2003 rose 76.8 per cent at Rs 164,650 million (US$3.5 billion) over Rs 931.40 million during the same period in the previous year. The high growth in...

S.KOREA'S 2002 ELECTRONIC COMMERCE TALLIED AT US$140 BLN.
June 2, 2003... SEOUL, June 2 Asia Pulse - The volume of South Korea's electronic commerce totaled some 170 trillion won (US$140.42 billion) last year, the Ministry of Commerce, Industry and Energy said Sunday. The figure accounted for 13 per cent of the...

KOREAN MANUFACTURERS PREDICT BUSINESS SLUMP TO CONTINUE.
June 2, 2003... SEOUL, June 2 Asia Pulse - The majority of South Korean manufacturers expect the current business slump to stretch into the coming quarter, according to the results of a survey released Sunday. The poll of 1,297 manufacturers, conducted by...

OIL SEARCH SET TO RAISE OUTPUT ON NEW PNG ASSETS.
June 2, 2003... MELBOURNE, June 2 Asia Pulse - Oil Search Ltd (ASX:OSH) is set to raise oil output, as the company assumes control of operations at some of Papua New Guinea's biggest oil fields. The company said it now expects oil production to increase in...

SAMSUNG ELEC'S Q2 NET PROFIT FORECAST TO FALL BELOW US$826 MLN.
June 2, 2003... SEOUL, June 2 Asia Pulse - Samsung Electronics Co. (KSE:05930), the world's largest memory chip maker, announced Sunday its projected second quarter net profit could post below 1 trillion won (US$826 million). "With both the external and...

AUSTRALIAN RESERVE BANK APPOINTS NEW EXECUTIVE.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The Reserve Bank of Australia has appointed Chris Ryan as head of domestic markets. Mr Ryan is an economics graduate from Australian National University and holds a Master's Degree in Public Affairs from...

PHILIPPINE NEWSPAPER HIGHLIGHTS - JUNE 2, 2003.
June 2, 2003... MANILA, June 2 Asia Pulse - Highlights of today's newspapers: THE MANILA TIMES: - Perhaps Ambassador Kojiro Takano should have apologized not for what he said that, among others, Japanese investors were not necessarily satisfied with...

KOREAN TAX AGENCY TO REOPEN CORPORATE TAX PROBES IN H2.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Korea's tax agency today said it will resume regular corporate income tax probes in the second half in an effort to manage tax sources. In March, the National Tax Service (NTS) decided to put off periodic...

U.S. COMMERCE SECRETARY SAYS HYNIX DECISION WILL BE EVENHANDED.
June 2, 2003... SEOUL, June 2 Asia Pulse - U.S. Secretary of Commerce Donald Evans said a final decision on the issue of levying countervailing duties on semiconductors produced by Hynix will be made in a transparent manner and will be based on a review of the...

FOREX - US DOLLAR STRONGER AGAINST WON AT OPEN - JUNE 2, 2003.
June 2, 2003... SEOUL, June 2 Asia Pulse - The U.S. unit gained momentum against the Korean won in early-morning trading on a shrinking yen. The greenback opened the morning session at 1,209 won, up 3.1 won from 1,205.90 won late Friday. The opening...

JUNE INDIAN CONFERENCE SET TO BOOST EXPORTS TO AFRICA.
June 2, 2003... NEW DELHI, June 2 Asia Pulse - A travelling conference of Commercial Representatives (CRs) of India from the West Asia and North Africa (WANA) regions is to be held in India from June 3-7. The event is expected to formulate market specific...

AUSTRALIA'S PEPLIN BIOTECH RAISES US$2.27 MLN IN SHARE PLACEMENT.
June 2, 2003... BRISBANE, June 2 Asia Pulse - Shares in Peplin Biotech Ltd (ASX:PEP) have jumped more than five per cent after the company raised A$3.5 million (US$2.27 million) in a share placement to accelerate its anti-cancer drug research candidate. ...

AUSTRALIA'S ADI CALLS OFF SHIPBUILDING MERGER WITH TENIX.
June 2, 2003... CANBERRA, June 2 Asia Pulse - Defence companies ADI and Tenix have called off the proposed merger of their shipbuilding and repair operations. The companies said the decision followed detailed talks between the companies and other...

ADB TO AWARD $US150MLN TO PAKISTAN SME DEVELOPMENT.
June 2, 2003... ISLAMABAD, June 2 - The Asian Development Bank (ADB) has promised to provide $US150 million in assistance to Pakistan to restructure and develop its small and medium enterprises (SMEs) sector. The funds will be used to restructure and...

ALBARAKA ISLAMIC BANK PAKISTAN BOOKS 27% RISE IN FY NET PROFIT.
June 2, 2003... KARACHI, June 2 Asia Pulse - The Bahrain-based AlBaraka Islamic Bank's Pakistan branches reported 27 per cent growth in net profit to Rs146 million (US$2.53 million) for the year ended December 31, compared to a net profit of Rs114 million in...

AUSTRALIA'S ASIC CHIEF DEFENDS PUNISHMENT OF FAMOUS STOCKBROKER.
June 2, 2003... SYDNEY, June 2 Asia Pulse - The head of Australia's securities watchdog has accused flamboyant stockbroker Rene Rivkin of trivialising his case of insider trading decided in a Sydney court last week. Rivkin claimed he was the victim of a...

THAI NEWSPAPER HIGHLIGHTS - JUNE 2, 2003.
June 2, 2003... BANGKOK, June 2 Asia Pulse - Highlights of today's newspapers: - The Stock Exchange of Thailand (SET) will postpone liberalising brokerage commission structures until it reaches its target of increasing the investor base to 400,000...

AUSTRALIA DOWNPLAYS PROSPECT OF NORTH KOREAN CONFLICT.
June 2, 2003... CANBERRA, June 2 Asia Pulse - Australian Foreign Minister Alexander Downer has played down the likelihood of conflict on the Korean peninsula, saying that said he did not expect pre-emptive strikes against the North. He has also warned...

NIKKEI WEEKLY HIGHLIGHTS - JUN 2 2003.
June 2, 2003... TOKYO, June 2 Asia Pulse - Major headlines from the Jun 2 issue of the Nikkei Weekly: FRONT - Sony emphasizes hardware in rebound strategy - Arroyo eyes closer ties between Japan and ASEAN WEEKLY FOCUS - Resona Group gets...

FOREIGN DIRECT INVESTMENT IN PAKISTAN UP 126% IN JULY-APRIL.
June 2, 2003... ISLAMABAD, June 2 Asia Pulse - The influx of Foreign Direct Investment (FDI) into Pakistan reached US$695.9 million during July-April, showing an increase by 126 per cent when compared to FDI worth US$307.6 million in the corresponding period...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - JUNE 2 2003.
June 2, 2003... TOKYO, June 2 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - MOF To Issue Fixed-Rate Govt Bonds For Retail Investors - Japan Seeks To Balance U.S. Partnership, Intl Cooperation -...

NINTENDO TO FINALLY PULL PLUG ON FAMICOM GAME CONSOLES.
June 2, 2003... TOKYO, June 2 Asia Pulse - Nintendo Co. (TSE:7974) will end production by September of its Family Computer game console, which it started selling in 1983 and whose U.S. version was called the Nintendo Entertainment System. Nintendo, which...

TRIAL OF IMAM SAMUDRA GETS UNDERWAY IN BALI.
June 2, 2003... DENPASAR, Bali, June 2 Asia Pulse - The trial has begun in Denpasar of alleged Bali bombing field commander Imam Samudra. Chief Judge Wayan Sugawa and four other judges are hearing Samudra's case in the Nari Graha auditorium in the Balinese...

JAPAN'S LION DEVELOPS TEXTILE-USE PHOTOCATALYST MATERIAL.
June 2, 2003... TOKYO, June 2 Asia Pulse - Lion Corp. (TSE:4912) has developed a modified type of photocatalyst that can be mixed directly in with textile fibers, giving textile products the ability to fight odors, germs and dirt. Photocatalysts work by...

JAPAN'S IZUMIYA TO JOIN INTL ONLINE B2B MARKETPLACE.
June 2, 2003... OSAKA, June 2 Asia Pulse - Supermarket chain operator Izumiya Co. (TSE:8266) will participate in the WorldWide Retail Exchange (WWRE), an international online business-to-business (B2B) marketplace, The Nihon Keizai Shimbun learned Friday. ...

LEND LEASE CEO SAYS FIRM MUST MOVE ON AFTER LOSSES.
June 2, 2003... SYDNEY, June 2 Asia Pulse - Lend Lease Corp Ltd (ASX:LLC) chief executive Greg Clarke has urged the firm to move on from the disappointment of its second $US300 million writedown for the year. Mr Clarke said last week Lend Lease would quit...

PAKISTANI TELECOMS SECTOR EXPECTS US$15 BLN CASH INJECTION.
June 2, 2003... LAHORE, June 2 Asia Pulse - Pakistan expects to receive an injection of US$15 billion once the country's telecommunications sector is deregulated. However, this massive injection of foreign investment would not come soon because the...

KOREA'S GROWING LEISURE MARKET SEES MORE DEALS FOR WHEELS.
June 2, 2003... SEOUL, June 2 Asia Pulse - While Heelys, Snake Boards, Rollkys and Trikkes may not exhibit the same level of consumer recognition as their more conventional cousins, inline skates, they are nonetheless gaining rapid popularity in South Korea's...

AUSTRALIA'S NORTH WEST SHELF JV SIGNS DEAL WITH TOKYO ELECTRIC.
June 2, 2003... MELBOURNE, June 2 Asia Pulse - The North West Shelf LNG joint venture has signed an agreement to supply Tokyo Electric Power Company for 125,000 cubic metres of LNG. The LNG spot cargo was loaded on May 31 from the joint venture's loading...

KOREAN PRESIDENT ASKS U.S. TO MAKE CAREFUL DECISION ON DUTIES.
June 2, 2003... SEOUL, June 2 Asia Pulse - South Korean President Roh Moo-hyun asked U.S. Secretary of Commerce Donald Evans Saturday to ensure Washington makes a careful decision on whether to impose countervailing duties on semiconductors made by Hynix...

MIM LETTER OPPOSES SWISS COAL GROUP TAKEOVER.
June 2, 2003... SYDNEY, June 2 Asia Pulse - In a letter to company shareholders, MIM Holdings Ltd (ASX:MIM) managing director Vince Gauci has reaffirmed his opposition to the $A4.93 billion ($US3.2 billion) current takeover bid by Swiss coal group Xstrata Plc....

JAPAN'S TAKARA BIO DEVELOPING COMPACT SARS DIAGNOSIS KIT.
June 2, 2003... OSAKA, June 2 Asia Pulse - Takara Bio Inc., which is under the wing of Takara Holdings Inc. (TSE:2531), has begun developing a device that would facilitate the detection of the SARS virus, company sources said. The compact device is...

PAKISTAN EXPORTS GOODS WORTH US$79 MLN TO KENYA.
June 2, 2003... KARACHI, June 2 Asia Pulse - Pakistan exported goods worth US$79 million to Kenya in the first nine months of the current fiscal year. Figures released by the Federal Bureau of Statistics showed a significant growth in Pakistan's exports to...

JAPANESE GOVT, FIRMS, UNIVS TO DEVELOP WAY TO LINK 'E-TAGS' WITH NET.
June 2, 2003... TOKYO, June 2 Asia Pulse - A government-industry-academic group plans to develop standard technology to connect IC chip-based "electronic tags" with the next-generation Internet, in a drive to help consumers easily gather information on items...

JAPAN'S ORIX MERGES 3 RENTAL CAR CO'S TO FORM 2ND LARGEST FIRM.
June 2, 2003... TOKYO, June 2 Asia Pulse - Orix Corp. (TSE:8591), Japan's largest leasing company, merged three group rental car subsidiaries into a single firm Sunday, making it the second-largest player in the industry, with a fleet of 28,300 vehicles, The...

AUSTRALIAN COMPANY PROFITS RISE 1.4% IN MARCH QUARTER.
June 2, 2003... CANBERRA, June 2 Asia Pulse - Australian company profits rose 1.4 per cent in the three months to March, in adjusted terms, while firms began to rebuild stocks after a dip at the end of last year, new figures showed today. The Australian...

ITO-YOKADO TO RESTRUCTURE DEPT STORE OPS WITH MITSUI'S HELP.
June 2, 2003... TOKYO, June 2 Asia Pulse - Ito-Yokado Co. (TSE:8264) plans to restructure its group department store operations by creating a new management company, The Nihon Keizai Shimbun learned Friday. The management responsibilities currently held by...

KOREA'S SK GROUP ONLY LOSER IN TOP 10 CONGLOMERATES.
June 2, 2003... SEOUL, June 2 Asia Pulse - Among South Korea's 10 largest conglomerates, only the SK Group had its total market value decrease, according to the Korea Stock Exchange (KSE) Monday. The total market value of the country's third-largest...

OLYMPUS, KODAK TEAMING UP TO SELL CHEAPER SLR DIGITAL CAMERA.
June 2, 2003... TOKYO, June 2 Asia Pulse - Olympus Optical Co. (TSE:7733) and Eastman Kodak Co. of the U.S. will forge an alliance in the SLR (single-lens reflex) digital camera business in a bid to tap global demand for high-end digital cameras by leveraging...

INDONESIAN NEWSPAPER HIGHLIGHTS - JUNE 2, 2003.
June 2, 2003... JAKARTA, June 2 Asia Pulse - Highlights of today's Indonesian newspapers: KOMPAS: - The government is mulling over its options, including downgrading ties with Sweden over Stockholm's rejection to take legal action against Aceh rebel...

JAPAN'S TOMY BRINGING TOY CAR TO LIFE WITH MITSUOKA MOTOR.
June 2, 2003... TOKYO, June 2 Asia Pulse - Tomy Co. (TSE:7867) announced Friday that it has collaborated with Mitsuoka Motor Co. to design a real car based on Tomy's Tomica line of highly popular miniature model cars. The Convoy88 is a single-passenger...

JAPAN'S JTB LAUNCHES ONLINE TRAVEL CATALOG SERVICE.
June 2, 2003... TOKYO, June 2 Asia Pulse - JTB Corp. began a service Sunday that makes its travel catalog available to customers over the Internet. The service, targeting broadband customers, sends an e-mail message with the equivalent of 20 pages of...

ING APPOINTS SOONG TUCK YIN AS HEAD OF RESEARCH FOR SINGAPORE.
June 2, 2003... (Full text of statement. Contact details below.) SINGAPORE, June 2 XFNHK-AsiaNet - ING Financial Markets announced today the appointment of Mr Soong Tuck Yin as Director and Head of Equity Research for Singapore. Mr Soong will lead...

KOREA'S SME'S SUFFERING CRISIS WITH ONGOING SLUMP.
June 2, 2003... SEOUL, June 2 Asia Pulse - Amid the continuing sluggish economy, small and mid-sized companies are at their worst, according to the Small Business Corporation and the Korea Federation of Small and Medium Business (KFSB) Monday. With...

S&P LOWERS RATINGS FOR WINEMAKER SOUTHCORP.
June 2, 2003... SYDNEY, June 2 Asia Pulse - International ratings agency Standard & Poor's has lowered ratings and guaranteed debt issues for Australian winemaker Southcorp Ltd's (ASX:SRP) to BB-plus/B from BBB/A-3. The rating outlook is negative. ...

JAPAN'S 3 CITY GAS FIRMS TO DEVELOP ULTRASOUND-BASED GAS METER.
June 2, 2003... TOKYO, June 2 Asia Pulse - Leading city gas companies Tokyo Gas Co. (TSE:9531), Osaka Gas Co. (TSE:9532) and Toho Gas Co. (TSE:9533) will jointly develop a new type of gas meter that measures gas volume via ultrasound. The device will be a...