AsiaPulse News articles from March 2009

AsiaPulse News archives from March 2009

FOREX - AUSTRALIAN DOLLAR OPENS LOWER - MARCH 2, 2009.
March 2, 2009... SYDNEY, March 2 Asia Pulse - The Australian dollar has opened lower after woeful US economic data pointed to a deepening US recession and prompted safe-haven US dollar buying. At 0700 AEDT, the Australian dollar was trading at $US0.6365 71,...

AUSTRALIAN BOND MARKET OPENS WEAKER - MARCH 2, 2009.
March 2, 2009... SYDNEY, Mar 2 Asia Pulse - The Australian bond market has opened weaker, moving in line with longer-dated US Treasuries during weekend trading and on increasing speculation the Reserve Bank of Australia (RBA) will leave interest rates on hold...

AUSTRALIAN MANUFACTURING ACTIVITY FALLS IN FEBRUARY.
March 2, 2009... SYDNEY, March 2 Asia Pulse - Manufacturing activity deteriorated further in February as the impact of the global economic crisis continues to grow, a survey says. The Australian Industry Group-PricewaterhouseCoopers Australian Performance...

TELSTRA CORP TO SELL INFO TECH UNIT KAZ GROUP.
March 2, 2009... SYDNEY, March 2 Asia Pulse - Australia's biggest telecommunications company, Telstra Corporation Ltd (ASX:TEL), will sell its information technology services unit, KAZ Group, to Fujitsu for $A200 million ($US127.3 million). The purchase of...

SIR RICHARD BRANSON LAUNCHES V AUSTRALIA.
March 2, 2009... LOS ANGELES, March 2 Asia Pulse - A string of parties stretching from Sydney to Los Angeles has marked the launch and first commercial flight of Sir Richard Branson's V Australia. On board the inaugural flight was Virgin Group chairman Sir...

PANORAMIC RESOURCES MOVES TO CONSOLIDATE OWNERSHIP OF WA MINE.
March 2, 2009... MELBOURNE, March 2 Asia Pulse - Nickel producer Panoramic Resources Ltd will consolidate ownership of the Lanfranchi mine in Western Australia, after buying its Canadian partner's stake in the project. Panoramic, formerly Sally Malay...

US-BASED DRUGS GROUP LAUNCHES TAKEOVER OF AUSTRALIAN BIOTECH.
March 2, 2009... MELBOURNE, March 2 Asia Pulse - US-based biopharmaceutical group Cephalon Inc has launched a $A256 million ($US162.94 million) takeover of biotechnology company Arana Therapeutics Ltd (ASX:AAH) to build on its inflammatory disease and oncology...

AUSTRALIA'S CENTRAL BANK TIPPED TO CUT RATES AGAIN IN MARCH.
March 2, 2009... SYDNEY, Mar 2 Asia Pulse - The central bank is tipped to cut interest rates to a record low level in March, as the effects of the global downturn threaten to really hit the domestic economy. Thirteen of 16 economists surveyed by AAP expect...

INSURANCE AUSTRALIA GROUP LOOKS TO ASIA FOR GROWTH.
March 2, 2009... SYDNEY, Mar 2 Asia Pulse - The Insurance Australia Group Ltd (ASX:IAG) is hoping the Asian market will provide the faster growth that is no longer available in Australia's more mature and consolidated insurance industry. However,...

IOOF HOLDINGS TO BUY AUSTRALIAN UNITS OF UK-BASED OM GROUP.
March 2, 2009... SYDNEY, March 2 Asia Pulse - Wealth manager IOOF Holdings Ltd (ASX:IFL) will buy the Australian subsidiaries of the UK-based OM Group for $A34 million ($US21.64 million) to strengthen its position in the local financial services market. ...

AUSTRALIANS MOVE TO SLASH DEBT.
March 2, 2009... SYDNEY, March 2 Asia Pulse - A slowing economy and a fear of losing their jobs is motivating many Australians to slash their debt, economists say. In recent months, personal credit growth has slowed to rates last seen in the 1991-92...

S. KOREAN BROADCASTERS ESCALATE PROTEST AGAINST MEDIA REFORMS.
March 2, 2009... SEOUL, March 2 Asia Pulse - Hundreds of journalists and producers at four large television networks in South Korea will go on a 2-day strike this week to protest President Lee Myung-bak's sweeping media reforms, the media workers' union said...

INDONESIA, AUSTRALIA SIGN NEW TRADE AGREEMENT.
March 2, 2009... JAKARTA, March 2 Asia Pulse - Australian Ambassador to Indonesia Bill Farmer welcomed the signing on Friday of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), an embassy media release has said. "The Agreement opens up...

KOREAN WATCHDOG OKS LOTTE'S TAKEOVER OF DISTILLED LIQUOR MAKER.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korea's anti-trust watchdog said Sunday it gave the greenlight for a subsidiary of retail giant Lotte Group to acquire the nation's second-largest maker of "soju," a popular distilled liquor. The Fair...

SOUTH KOREAN THINK-TANK WARNS AGAINST PANIC ON EASTERN EUROPE.
March 2, 2009... SEOUL, March 2 Asia Pulse - Participants in the South Korean financial market should refrain from being oversensitive to Eastern European banking turmoil though it may affect the local economy, a think-tank said Sunday. "There is no need...

S. KOREA'S TUMBLING EXPORTS FEARED TO SPARK HUGE JOB LOSSES.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korea's plunging exports are likely to lead to massive job losses, a private think tank said Sunday, calling for measures to retain payrolls at export industries. In a report on the impact of falling...

HYUNDAI KIA AUTOMOTIVE GROUP TO INVEST US$5.9 BLN THIS YEAR.
March 2, 2009... SEOUL, March 2 Asia Pulse - Hyundai Kia Automotive Group, South Korea's top automaking conglomerate, said Sunday it will invest a total of 9 trillion won (US$5.9 billion) in facility expansion and research and development this year. This...

KOREA'S PRESIDENT LEE TO VISIT NEW ZEALAND, AUSTRALIA, INDONESIA.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korean President Lee Myung-bak will embark on a three-nation trip this week that will take him to New Zealand, Australia and Indonesia for talks largely aimed at drafting joint measures to overcome the ongoing...

SEOUL SHARES EXPECTED TO SLIP FURTHER ON FINANCIAL WOES.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korean stocks are likely to fall further in the coming week on deepening financial jitters and the weakening local currency, analysts said Saturday. "Local shares will face increased downside risks that...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2009.
March 2, 2009... SYDNEY, March 2 Asia Pulse - Highlights of today's newspapers: THE AUSTRALIAN: - Dozens of freighters carrying Australian iron ore are stalled outside Chinese ports amid a collapse in demand for steel. Zimbabwean President Robert...

INDIA'S YATRA.COM TIES UP WITH IRCTC FOR ONLINE RAIL BOOKINGS.
March 2, 2009... NEW DELHI, March 2 Asia Pulse - Online travel company Yatra.com on Friday announced its tie-up with the Indian Railway Catering and Tourism Corporation (IRCTC) for train bookings through its website. "For this service, Yatra.com has tied-up...

HSBC GLOBAL HIKES STAKE IN INDIA'S UNITED SPIRITS.
March 2, 2009... MUMBAI, March 2 Asia Pulse - Vijay Mallya-promoted United Spirits (BSE:532432) on Friday said foreign fund house HSBC Global Investment Funds has hiked its stake in the company to over five per cent. In a disclosure to the Bombay Stock...

NET PROFIT FOR SOUTH KOREAN CARD FIRMS DIPS 36.5PCT.(Financial report)
March 2, 2009... SEOUL, March 2 Asia Pulse - Total earnings by South Korea's credit card companies declined 36.5 per cent in 2008 from a year earlier as business costs rose and one-off gains were absent, the financial watchdog said Sunday. The Samsung Card...

PEPSICO TO SPONSOR MUMBAI INDIANS IN INDIAN PREMIER LEAGUE.
March 2, 2009... NEW DELHI, March 2 Asia Pulse - Soft drink major PepsiCo on Friday said it has bagged the sponsorship rights for Mumbai Indians for the upcoming Indian Premier League (IPL) season. "Under the partnership, PepsiCo would have the exclusive...

STOCKS - AUSTRALIAN SHARES OPEN WEAKER - MARCH 2, 2009.
March 2, 2009... SYDNEY, March 2 Asia Pulse - The Australian stock market opened weaker on Monday led by the resources sector and after losses on Wall Street. By 1015 AEDT on Monday, the benchmark S&P/ASX200 index was down 73.3 points, or 2.19 per cent, at...

ALCATEL-LUCENT UNDER SCANNER IN INDIA FOR ALLEGED TAX EVASION.
March 2, 2009... NEW DELHI, March 2 Asia Pulse - India's Income Tax department on Friday conducted a survey of the Gurgaon offices of global telecom company Alcatel-Lucent over suspected evasion of tax on their income in India. The tax officials want to...

S. KOREAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2009.
March 2, 2009... SEOUL, March 2 Asia Pulse - Highlights of today's newspapers: KOREAN-LANGUAGE DAILIES -- National Assembly speaker proposes delaying passage of media law (Kyunghyang Shinmun) -- Job-sharing loses direction due to worker, employer...

ASIA'S LARGEST SPORTING GOODS SHOW TO KICK OFF IN TAIPEI.
March 2, 2009... TAIPEI, March 2 Asia Pulse - Asia's largest sporting goods show will kick off in Taipei this month, with an expanded cross-Taiwan Strait section that will enable buyers to source through China from Taiwan, according to the Taiwan External Trade...

TAIWAN TO PURSUE CLOSER TRADE TIES WITH ASEAN STATES: MOFA.
March 2, 2009... TAIPEI, March 2 Asia Pulse - Taiwan will take advantage of improved relations with China to pursue closer trade ties with individual Association of Southeast Asian Nations (ASEAN) states, Ministry of Foreign Affairs (MOFA) spokesman Henry Chen...

TAIWANESE DROUGHT RESPONSE CENTRE SET TO OPEN.
March 2, 2009... TAIPEI, March 2 Asia Pulse - The Ministry of Economic Affairs (MOEA) will open a drought response center Monday in anticipation of a possible water shortage this summer due to lower-than-usual rainfall in the past two months, an official said...

CAMBODIA'S FIRST AUTOMOBILE ASSEMBLY PLANT TO OPEN IN 2010.
March 2, 2009... PHNOM PENH, March 2 Asia Pulse - Cambodia's first automobile assembly plant is scheduled to be put into operation by the middle of 2010 to meet local demand and export to Southeast Asian markets. An agreement on the US$60-million factory, a...

VIETNAMESE IT BUSINESSES EYE FRENCH MARKET.
March 2, 2009... PARIS, March 2 Asia Pulse - The Vietnamese software sector has been offered an opportunity to expand its market to France as it was introduced to the European country during a visit by a delegation of IT businesses from February 26 to March 1....

SRI LANKA'S RICHARD PIERIS CO. MAKES LOSS IN DECEMBER QUARTER.(Financial report)
March 2, 2009... COLOMBO, March 2 Asia Pulse - Sri Lanka's Richard Pieris and Company (RPC) said its December quarter loss rose 47 per cent or 87 million rupees to 271 million (US$2.4 million) from a year ago, with the collapse of global commodity prices. ...

AUSTRALIA, NEW ZEALAND RECOGNISE VIETNAM'S MARKET ECONOMY.
March 2, 2009... BANGKOK, March 2 Asia Pulse - Australia and New Zealand signed documents officially recognising Vietnam's market economy in Phetchaburi province, Thailand on February 27. The documents were signed and handed over by Australia's Minister...

SINGAPORE NEWSPAPER HIGHLIGHTS - FEB 28, 2009.
March 2, 2009... SINGAPORE, Feb 28 Asia Pulse - Highlights of today's newspapers: BUSINESS TIMES: - For all the pervasive doom and gloom, Asia is not in crisis and Singapore is not in dire straits, says Prime Minister Lee Hsien Loong, invoking a...

VIETNAM'S INTER-BANKING E-PAYMENT SYSTEM ENTERS SECOND PHASE.
March 2, 2009... HANOI, March 2 Asia Pulse - The State Bank of Vietnam (SBV) on Feb. 28 launched the second phase of its inter-banking e-payment system in an effort to make the banking system meet requirements for international integration. Part of the...

VIETNAM'S KIEN GIANG URGED TO FULLY TAP AQUACULTURE POTENTIAL.
March 2, 2009... KIEN GIANG, March 2 Asia Pulse - Vietnamese President Nguyen Minh Triet visited the southern province of Kien Giang on February 26 and 27, where he urged the locality to maximise its aquaculture potential. Boasting 200km of coastline, Kien...

STOCKS - TOKYO SHARES OPEN LOWER - MARCH 2, 2009.
March 2, 2009... TOKYO, March 2 Asia Pulse - Tokyo share prices opened lower Monday, with the benchmark Nikkei-225 index losing 114.14 points, or 1.51 percent, to 7,454.28 in early trade. ASIA PULSE 02-03 1115

TAIWAN TO INVITE FOREIGN EXPERTS TO HELP BLUEPRINT AEROTROPOLIS.
March 2, 2009... TAIPEI, March 2 Asia Pulse - Taiwan is inviting international experts to take part in planning a proposed Taoyuan aerotropolis to ensure that it meets world-class standards, Civil Aeronautics Administration (CAA) Director-General Lee Long-wen...

HONG KONG NEWSPAPER HIGHLIGHTS - MARCH 2, 2009.
March 2, 2009... HONG KONG, March 2 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST: - Hutchison Telecommunications International (SEHK: 2332) Ltd is planning to spin off its Hong Kong fixed-line and mobile telephone...

VIETNAMESE TOURISM SECTOR WEATHERS GLOBAL FINANCIAL STORM.
March 2, 2009... HANOI, March 2 Asia Pulse - Approximately 690,000 visitors arrived in Vietnam during the first two months of 2009, a drop of 10.3 per cent compared with the corresponding period last year, the General Statistic Office (GSO) reported. ...

ASEAN SUMMIT ENDS IN BANGKOK WITH NUMEROUS AGREEMENTS.
March 2, 2009... BANGKOK, March 2 Asia Pulse - The 14th ASEAN summit, themed ASEAN Charter for ASEAN Peoples, wrapped up on March 1 with the Joint Cha-am Hua Hin Declaration on the Roadmap for an ASEAN community (2009- 2015), and a series of agreements,...

VIETNAM'S RICE EXPORTS ROBUST AT START OF YEAR.
March 2, 2009... HANOI, March 2 Asia Pulse - Vietnam exported 1.05 million tonnes of rice, earning almost US$480 million, during the first two months of this year, according to the Ministry of Agriculture and Rural Development. Both the amount and value of...

COOK ISLANDS TOURISM WANTS US$500,000 TO RAISE INDUSTRY GROWTH.
March 2, 2009... RAROTONGA, March 2 Asia Pulse - The Cook Islands Tourism Corporation is asking for an extra NZ$1 million (US$497,700) to be added to its next annual budget, reports Cook Islands News. Chief executive officer John Dean said without an...

GLOBAL RECESSION WILL AFFECT AUSTRALIA'S ECONOMIC GRWTH: SWAN.
March 2, 2009... SYDNEY, March 2 Asia Pulse - Australia's economic growth will be affected as the nation's major trading partners struggle with recession, Federal Treasurer Wayne Swan says. About seven of Australia's top 10 trading partners are now in...

PAKISTAN NEWSPAPER HIGHLIGHTS - FEB 27, 2009.
March 2, 2009... KARACHI, Feb 27 Asia Pulse - Highlights of today's newspapers: DAWN: - Pakistan Peoples Party (PPP) feels the heat as turmoil over Supreme Court ruling mounts. - PPP decides to form government in Punjab. - Punjab Assembly...

US FIRM TO OFFER RISK MANAGEMENT COURSES IN VIETNAM.
March 2, 2009... WASHINGTON, March 2 Asia Pulse - HRciti Corporation, a California-based human capital consulting firm with focus in Vietnam, has partnered with KESDEE, Inc. to offer over 700 accredited online courses in the banking, finance and accounting...

TONGAN ENVOY CALLS FOR COMMUNICATION ON AUST GUEST WORKER SCHEME.
March 2, 2009... CANBERRA, March 2 Asia Pulse - Misunderstandings in Australia's Pacific Island guest worker scheme has led Tonga's High Commissioner to Australia to call for closer communication between groups responsible for Pacific Island guest workers,...

VIETNAMESE, THAI PRIME MINISTERS HOLD TALKS.
March 2, 2009... BANGKOK, March 01 Asia Pulse - Vietnamese and Thai Prime Ministers were unanimous in the need to expand and intensify bilateral relations, and pledged to raise the effectiveness of current cooperation mechanisms, while promoting bilateral...

TAIWAN SWINE ASSOC, EXPERT REQUEST HALT TO PIG VACCINE PLAN.
March 2, 2009... TAIPEI, March 2 Asia Pulse - The Taipei-based Swine Association strongly urged the government Saturday not to vaccinate the country's pigs against foot-and-mouth disease (FMD) , despite outbreaks of the disease in central Taiwan earlier this...

AUSTRALIA COMMITTED TO TRAINING SKILLED PACIFIC IS WORKERS:ENVOY.
March 2, 2009... SUVA, March 2 Asia Pulse - Australia says it is committed to the training of skilled workers in the Pacific. It has set up the Australia Pacific Technical Colleges (APTC) in three Pacific Island Countries to assist in training Pacific...

SRI LANKA AT RISK OF ECONOMIC DAMAGE FROM AIDS: WORLD BANK.
March 2, 2009... COLOMBO, March 2 Asia Pulse - A new World Bank report says Sri Lanka must improve HIV/AIDS prevention programmes to prevent the disease causing economic damage. Conditions contributing to high vulnerability include the war, high mobility...

AMOUNT OF LOADED AND UNLOADED CARGO RISES AT OMAN PORTS.
March 2, 2009... MUSCAT, March 2 Asia Pulse - The quantity of cargo unloaded and loaded at Mina Sultan Qaboos and Salalah ports in Oman stood at 9748,4 tonnes as at the end of December 2008 against 7523,9 tonnes during the same period in 2007, constituting a...

VIETNAM AIRLINES LAUNCHES ONLINE PAYMENT SERVICE.
March 2, 2009... HANOI, March 2 Asia Pulse - The national flag carrier Vietnam Airlines will officially accept online payment for domestic flights as from March 1 at its website http:/ www.vietnamairlines.com. Customers making e-payment for their tickets...

VIETNAM SEEKS INCREASE IN GERMAN INVESTMENT.
March 2, 2009... HANOI, March 2 Asia Pulse - Vietnam expects German investors to increase their interest in the southeast Asian country, capitalising on the attractive investment environment offered by one of the world's fastest-growing economies. Whilst...

COOK ISLANDS GOVT TO BOOST FINANCIAL SECTOR WITH US$381,000.
March 2, 2009... RAROTONGA, March 2 Asia Pulse - Cook Islands Government is to inject NZ$750,000 (US$381,000) to stimulate growth in the offshore financial services industry, reports Cook Islands News. There are just six trust companies in the country and...

MIZUHO BANK GIVES PETROVIETNAM FERTILIZER US$20 MLN LIFELINE.
March 2, 2009... HCM CITY, March 2 Asia Pulse - Mizuho Corporate Bank Ltd (Mizuho) has extended PetroVietnam Fertiliser and Chemicals Corp (DPM) a US$20 million line of credit to import fertilizer and raw materials for the Phu My fertilizer plant. The deal...

INDIA'S ADITYA BIRLA ACQUIRES 76% STAKE IN APOLLO SINDHOORI.
March 2, 2009... MUMBAI, March 2 Asia Pulse - Diversified Indian conglomerate Aditya Birla Nuvo on Friday said it has acquired an additional 20 per cent in retail broking firm Apollo Sindhoori Capital Investments (BSE:590049) for over Rs 710 million (US$13.9...

VIETNAM, JAPAN BOOST TOURISM COOPERATION.
March 2, 2009... KHANH HOA, March 2 Asia Pulse - A seminar on Vietnam-Japan tourism cooperation was held in Nha Trang city of southern Khanh Hoa province on February 27. The seminar, co-organised by the Vietnam National Administration of Tourism (VNAT),...

INDONESIA'S FOREIGN EXCHANGE RESERVES TOTAL US$51 BLN.
March 2, 2009... JAKARTA, March 2 Asia Pulse - Indonesia's foreign exchange reserves as per February 18 stood at US$51.06 billion or equal to the value of 4.7 months of imports and foreign debt repayments. "Our foreign exchange reserve are in a quite strong...

HARD FOR INDIA TO ACHIEVE 7.1% GROWTH.
March 2, 2009... NEW DELHI, March 2 Asia Pulse - With India's economic growth rate slipping to 5.3 per cent for the third quarter, global financial institutions believe that it will be difficult to achieve 7.1 per cent growth in 2008-09, as projected by the...

BHUSHAN STEEL ALLEGED TO HAVE VIOLATED INDIAN REGULATORY NORMS.
March 2, 2009... NEW DELHI, March 2 Asia Pulse - A day before its open offer for buying additional 20 per cent stake in Orissa Sponge (BSE:504864), Bhushan Steel (BSE:500055) on Friday alleged that its rivals were "floating frivolous complaints" of violations...

SMALLER KOREAN FIRMS' FACTORY OPERATING RATE HITS RECORD LOW.
March 2, 2009... SEOUL, March 1 Asia Pulse - The factory operating rate of South Korean small and medium enterprises tumbled to an all-time low in January as they took the brunt of a sagging economy, a business organization said Sunday. Local small and...

KIA MOTORS POSTS SHARP SALES INCREASE IN AFRICA, MIDDLE EAST.(Financial report)
March 2, 2009... SEOUL, March 2 Asia Pulse - Kia Motors Corp. (KSE:000270), South Korea's No.2 automaker, said Saturday it saw its sales in Africa and the Middle East jump this year despite the worsening economic slowdown. The affiliate of the country's...

PEPSI TIES UP WITH MUMBAI INDIANS, CSK FOR INDIAN PREMIER LEAGUE.
March 2, 2009... NEW DELHI, Feb 28 Asia Pulse - Global beverages major PepsiCo has scored a double whammy for the upcoming Indian Premier League (IPL) cricket season after bagging the sponsorship deal for Mumbai Indians and securing the status of official...

S. KOREA'S TRADE SURPLUS HITS US$3.3 BLN IN FEB.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korea's trade surplus reached US$3.3 billion in February thanks to a sharp drop in imports and surge in ship exports, a government report showed Monday. The country's exports reached US$25.8 billion last...

UZBEK BODY ORDERS LOCAL GOVTS TO STOP VIOLATING BUSINESS RIGHTS.
March 2, 2009... TASHKENT,March 2 Asia Pulse - An Uzbek state body is doing its best to guarantee entrepreneurs' rights from unfair government decisions. The State Committee on Demonopolization regularly carries out work to protect entrepreneurs from...

TAIWAN TO RELEASE POSITION PAPER ON TRADE PACT WITH CHINA.
March 2, 2009... TAIPEI, March 2 Asia Pulse - Taiwan's Ministry of Economic Affairs (MOEA) is scheduled to release a position paper this week on the plan to sign an economic cooperation framework agreement (ECFA) with China to seek public support for the...

FOREX - RINGGIT ENDS WEAKER AGAINST U.S. DOLLAR - MARCH 2, 2009.
March 2, 2009... KUALA LUMPUR, March 2 Asia Pulse - The ringgit ended at 3.6770/6790 against the U.S. dollar on Friday, weaker than 3.6675/6725 at the close on Thursday. ASIA PULSE 02-03 1209

CORR: FOREX - RINGGIT ENDS WEAKER AGAINST U.S.$ - FEB 27, 2009.
March 2, 2009... Correction: dates KUALA LUMPUR, Feb 27 Asia Pulse - The ringgit ended at 3.6770/6790 against the U.S. dollar on Friday, weaker than 3.6675/6725 at the close on Thursday. ASIA PULSE 02-03 1211

DELAYS CAUSE HO CHI MINH CITY TO CANCEL PERMITS TO GOLF COURSES.
March 2, 2009... HCM CITY, March 2 Asia Pulse - The Peoples Committee of Ho Chi Minh City has asked relevant authorities to take necessary steps to revoke licences granted to two golf course projects because of delay in their implementation. The two...

VIETNAM TO INVESTIGATE PUBLIC-PRIVATE PARTNERSHIP MODELS.
March 2, 2009... HANOI, March 2 Asia Pulse - The Japanese government will work alongside Vietnam to create an environment that fosters the development of Private-Public Partnership (PPP) models, transforming them into effective tools to the sustainable growth...

FOREX - U.S. DOLLAR OPENS STRONGER AGAINST WON - MARCH 2, 2009.
March 2, 2009... SEOUL, March 2 Asia Pulse - The U.S. dollar on Monday opened at 1,542.0 won, up from 1,534.0 at the close on Friday. (Yonhap) 02-03 1218

AUSTRALIAN COMPANY PROFITS SHRINK AT RECORD PACE IN DECEMBER QTR.
March 2, 2009... CANBERRA, March 2 Asia Pulse - Australian businesses felt the brunt of the global recession in the final three months of 2008 as profits sank at their fastest pace since June 2003. Company gross operating profits tumbled by a...

OMAN BANKS' 2008 SPECIAL DEPOSITS ROSE 19% TO US$16.5 BLN:REPORT.
March 2, 2009... MUSCAT, Feb 27th Asia Pulse - The total amount of special deposits with Omani commercial banks rose 19.6 per cent by the end of December 2008 to reach RO. 6.353 billion (US$16.5 billion). This was against RO.5.309 billion during the same...

STOCKS - SEOUL SHARES OPEN LOWER - MARCH 2, 2009.
March 2, 2009... SEOUL, March 2 Asia Pulse - South Korean stocks got off to a weak start Monday as investors dumped banking and tech shares on deepening financial jitters and the weakening local currency, analysts said. The benchmark Korea Composite Stock...

SOUTH KOREAN GOVT TO RESUME CONSTRUCTION OF GYEONGIN WATERWAY.
March 2, 2009... SEOUL, March 2 Asia Pulse - The South Korean government will resume construction of the Gyeongin canal this month, five years after it was suspended in the face of stiff opposition from environmentalists, officials said Monday. The...

STRUGGLING VIETNAMESE BANKS FACE MERGER, LIQUIDATION.
March 2, 2009... HANOI, March 2 Asia Pulse - Poor-performing credit institutions have been told they could be forced to merge or be acquired by the State Bank of Vietnam if their collapse was seen to threaten the country's banking system. A circular...

SOUTH KOREA'S DONGKUK STEEL CUTS STEEL PLATE PRICE.
March 2, 2009... SEOUL, March 2 Asia Pulse - Dongkuk Steel Mill Co. (KSE:001230), South Korea's third-largest steelmaker, said Monday it has cut steel-plate prices to reflect declines in global commodity prices. Dongkuk will cut prices by 240,000 (US$154)...

SOUTH KOREAN WON SLIDES AGAINST DOLLAR AMID DOLLAR SHORTAGE WOES.
March 2, 2009... SEOUL, March 2 Asia Pulse - The South Korean currency declined against the U.S. dollar Monday, flirting with the 1,560-won mark, as concerns over the health of the U.S. banking sector sparked dollar shortage woes, dealers said. The local...

LOW PRICES, RATES COULD BOOST VIETNAM PROPERTY MARKET: EXPERT.
March 2, 2009... HCM CITY, March 2 Asia Pulse - The Vietnam property market has several positives going for it after a depressed year and if developers offer reasonable prices, demand could increase strongly, a top industry executive has said. Sacomreal...

CONSTRUCTION STARTS ON VIETNAM'S FIRST FERROCHROME PLANT.
March 2, 2009... THANH HOA, March 2 Asia Pulse The Nam Viet Corporation commenced work on the construction of a Ferrochrome manufacturing plant in Trieu Son district of Central Thanh Hoa province on February 26. The 1.5 trillion VND (US$85.5 million) plant,...

KOREA ELECTRIC POWER CORP SCRAPS TWO URANIUM EXPLORATION DEALS.
March 2, 2009... SEOUL, March 2 Asia Pulse - Korea Electric Power Corp. (KSE:015760), South Korea's state-run electricity company, said Monday it has canceled two preliminary deals to develop uranium mines in the U.S. and Slovakia due to a plunge in uranium...

NORTH KOREA, U.N. COMMAND OPEN TALKS ON EASING BORDER TENSION.
March 2, 2009... SEOUL, March 2 Asia Pulse - Two-star generals from North Korea and the United Nations Command (UNC) were holding talks Monday at the truce village of Panmunjom on easing border tensions, an UNC official confirmed. "Yes, the two sides have...