AsiaPulse News articles from May 2008

AsiaPulse News archives from May 2008

WESTPAC POSTS 34PCT RISE IN NET PROFIT.
May 1, 2008... SYDNEY, May 1 Asia Pulse - Westpac Banking Corporation Ltd (ASX:WBC) has shrugged off higher costs from the credit crunch to post a solid rise in first half profit, as demand for credit from business and retail customers remained buoyant. ...

FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - MAY 1, 2008.
May 1, 2008... SYDNEY, May 1 Asia Pulse - The Australian dollar opened stronger today, above $US0.9400, as a key US interest rate was cut again for the seventh time in a row. At 0700 AEST, the Australian dollar was trading at $US0.9434 38, up sharply...

NEW REPORT RANKS EMERGING MARKET MOBILE PENETRATION RATES.
May 1, 2008... (Full text of a statement. Contact details below.) New Report Provides Ranking of the World's Top Emerging Markets for Mobile Services NEW YORK, April 30 PRNewswire-AsiaNet - China passes India in 2007 by adding the most new mobile...

FOREX - US DOLLAR ENDS DEARER - APRIL 30, 2008.
May 1, 2008... MUMBAI, May 1 Asia Pulse - The US Dollar ended sharply costlier against the rupee to Rs.40.52 per dollar, but the pound sterling ruled steady at Rs.79.67 per pound at the close of the Interbank Foreign Exchange (FOREX) market here on Wednesday....

STOCKS - BSE ENDS WEAKER - APRIL 30, 2008.
May 1, 2008... MUMBAI, May 1 Asia Pulse - The Bombay Stock Exchange benchmark Sensex on Wednesday pared its early gains and closed the day weak, even as all eyes are now on the US Fed meeting on interest rates. The 30-share Sensex, which gained nearly 100...

SEOUL GIVES UP BID TO PURCHASE U.S. SURVEILLANCE PLANES.
May 1, 2008... SEOUL, May 1 Asia Pulse - South Korea may drop its plan to purchase high-tech U.S. surveillance planes because of budget constraints as the new Lee Myung-bak administration is focusing on cutting down government expenses, sources here said...

AUSTRALIAN BOND MARKET OPENS FIRMER - MAY 1, 2008.
May 1, 2008... SYDNEY, May 1 Asia Pulse - The Australian bond market opened firmer today after the US Federal Reserve cut a key interest rate for the seventh time in seven months. But the accompanying monetary policy statement convinced the market the US...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - MAY 1, 2008.
May 1, 2008... SYDNEY, May 1 Asia Pulse - Highlights of today's newspapers: THE AUSTRALIAN FINANCIAL REVIEW: - A $13 billion cash bid to buy Origin Energy could see BG Group reshape eastern Australian gas markets. Sydney lawyer Paul Gregory will face...

STOCKS - TOKYO SHARES OPEN LOWER - MAY 1, 2008.
May 1, 2008... TOKYO, May 1 Asia Pulse - Tokyo share prices opened lower today, with the benchmark Nikkei-225 index falling 38.38 points, or 0.28 per cent, to 13,811.61 points in early trade. ASIA PULSE 01-05 1022

SPANISH COMPANY TO INVEST IN TOURISM SECTOR IN BALI.
May 1, 2008... DENPASAR, Bali, May 1 Asia Pulse - Jardines de Bali, a Spanish company, plans to develop villas on Bali Island with an initial investment of Rp362 billion (US$39.1 million). The villas would be intended to attract up-scale tourists coming...

INDONESIA'S FUEL OIL 28.7 PCT PRICE HIKE TOO HIGH: OBSERVER.
May 1, 2008... JAKARTA, May 1 Asia Pulse - An average increase of 28.7 per cent in fuel oil prices is too high and could cause panic among the people, economic observer Tony A Prasetyantono said here on Wednesday. He said he agreed with the government's...

AUSTRALIA'S GLOUCESTER COAL MAKES NEW COKING DISCOVERY.
May 1, 2008... SYDNEY, May 1 Asia Pulse - Shares in Gloucester Coal Ltd (ASX:GCL) jumped higher in early trading after the company announced it had made a major new coking coal discovery. The "significant' discovery was made in the Gloucester Basin in...

INDONESIA'S GOVT STUDIES PROPOSAL TO RAISE FUEL OIL PRICES.
May 1, 2008... JAKARTA, May 1 Asia Pulse - The government is still studying the Indonesian Chamber of Commerce and Industry (Kadin)'s proposal to President Susilo Bambang Yudhoyono for an increase in the prices of subsidized fuel oil, a minister said. ...

TAIWAN PRESIDENT-ELECT MEETS WITH JAPANESE BUSINESS LEADER.
May 1, 2008... TAIPEI, May 1 Asia Pulse - President-elect Ma Ying-jeou met Wednesday with Hiroshi Mikitani, chairman and CEO of Rakuten Inc., one of the largest online shopping mall operators in Japan, to exchange ideas on the subject of electronic commerce....

TAIWAN MAKES EFFORT TO STABILISE COMMODITY PRICES.
May 1, 2008... TAIPEI, May 1 Asia Pulse - The government has been making efforts to stabilize commodity prices, with special consideration for the disadvantaged, Premier Chang Chun-hsiung said Wednesday. Chang made the remarks at a ceremony held at the...

SOUTH KOREA TO CUT CORPORATE TAXES IN JUNE.
May 1, 2008... SEOUL, May 1 Asia Pulse - South Korea plans to cut corporate tax next month to help spur economic growth, a senior government official said Thursday, as the global slowdown puts the brakes on Asia's fourth-largest economy. "Following oil...

AUSTRALIAN MANUFACTURING SUBDUED: SURVEY.
May 1, 2008... SYDNEY, May 1 Asia Pulse - Weaker global growth, high interest rates and input costs kept Australian manufacturing activity subdued in April, a survey shows. The Australian Industry Group-PricewaterhouseCoopers Australian Performance of...

AUSTRALIA'S MACQUARIE AIRPORTS POSTS Q1 EARNINGS INCREASE.(Financial report)
May 1, 2008... SYDNEY, May 1 Asia Pulse - Macquarie Airports (ASX:MAP) today said earnings had increased across its core portfolio in the first quarter of fiscal 2008. MAp said Sydney Airport posted an increase in earnings before interest, tax,...

STATISTICS SHOW GROWTH IN TAIWAN'S MANUFACTURING INDUSTRY: DGBAS.
May 1, 2008... TAIPEI, May 1 Asia Pulse - The total production value of Taiwan companies rose by 47.8 per cent to NT$24.19 trillion (US$794.7 billion) in 2006 compared with 2001, but the growth of the average annual wage slowed to 7.1 per cent over the same...

TAIWAN AIMS TO TAKE LION'S SHARE OF GLOBAL HIGH-END BICYCLE MARKET.(Industry overview)
May 1, 2008... TAIPEI, May 1 Asia Pulse - Taiwan is projected to capture 60 per cent of the world's market for expensive bicycles by 2012, a 240 per cent expansion within a five-year period, said the Ministry of Economic Affairs (MOEA) Wednesday. At...

TAIWAN'S TAITUNG COUNTY SEES POOR PLUM HARVEST.
May 1, 2008... TAIPEI, May 1 Asia Pulse - Taitung County in eastern Taiwan saw only 20 per cent of its usual plum harvest this year, due to unusual and unstable climate conditions during the fruit's growth and ripening periods, a plum grower told the CNA...

THAILAND, BURMA SIGN GAS PRODUCTION, ANTI-DRUG AGREEMENTS.
May 1, 2008... BANGKOK, May 1 Asia Pulse - Thailand and its neighbour Myanmar Wednesday signed agreements on natural gas production in the Gulf of Mataban and on joint cooperation in drug suppression along their common border, Thai Prime Minister Samak...

ORGANDA REJECTS INDONESIAN GOVT'S PLAN TO RAISE FUEL OIL PRICES.
May 1, 2008... JAKARTA, May 1 Asia Pulse - The Organization of Land Transportation Operators (Organda) in Indonesia has rejected the government's plan to raise fuel oil prices by 28.7 per cent in June. "I absolutely reject the plan. Even now,...

SOUTH KOREAN NEWSPAPER HIGHLIGHTS - MAY 1, 2008.
May 1, 2008... SEOUL, May 1 Asia Pulse - Highlights of today's newspapers: KOREAN-LANGUAGE DAILIES: - 'Sad May Day' for non-regular workers (Kyunghyang Shinmun) - Dual nationality to be partly allowed this year (Kookmin Daily) - North Korea...

INDONESIA HOLDS TOURISM-CULTURE EXHIBITION IN JEDDAH MAY 1-2.
May 1, 2008... JAKARTA, May 1 Asia Pulse - The Indonesian consulate general in Jeddah, in cooperation with the Indonesian culture and tourism ministry, will organize an Indonesia Tourism and Culture Exhibition 2008 on May 1-2, 2008, at Aziz Mall, Jeddah. ...

STOCKS - AUSTRALIAN INDEX OPENS LOWER - MAY 1, 2008.
May 1, 2008... SYDNEY, May 1 Asia Pulse - The Australian stock market has opened lower this morning, following uncertainty in the US overnight with an interest rate cut and the release of data reprting very low economic growth. Wall Street closed weaker...

BHP NODS US$1.9 BLN EXPANSION OF WEST AUSTRALIAN ALUMINA PROJECT.
May 1, 2008... SYDNEY, May 1 Asia Pulse - BHP Billiton Ltd (ASX:BHP) has approved US$1.9 billion (A$2.04 billion) of spending to expand the the Worsley Alumina project in Western Australia. BHP Billiton will provide 86 per cent of the funds to lift...

INDIA'S DRL ACQUIRES US-BASED BASF'S CONTRACT MANUFACTURING BIZ.
May 1, 2008... MUMBAI, May 1 Asia Pulse - Home grown pharma major Dr Reddys Laboratories (DRL) (BSE:500124) on Wednesday said it will acquire US-based BASF's pharmaceutical contract business and its manufacturing facility for an undisclosed amount. ...

INDIA, CHINA TO CLOCK OVER 8 PCT GROWTH IN NEXT TWO YRS: S&P.
May 1, 2008... NEW DELHI, May 1 Asia Pulse - The recent turmoil in the global financial markets notwithstanding, two of the largest Asian economies -- India and China will grow at eight per cent or above in the next two years, says global credit rating agency...

INDIA'S STRIDES TO BUY 55% OF AUSTRALIAN PHARMACO GENEPHARM.
May 1, 2008... MUMBAI, May 1 Asia Pulse - Pharmaceutical firm Strides Arcolab (BSE:532531) on Wednesday said it will acquire a majority stake of 55 per cent in ASX listed Genepharm Australasia (ASX:GAA) for A$61 million (US$57.6511 million) in an exchange for...

SARIN, MITTAL LEAD PIO BRIGADE ON UK POWERFUL BIZ LEADERS LIST.
May 1, 2008... LONDON, May 1 Asia Pulse - It's not only the rich lists where persons of Indian origin are making it big in the UK -- they have also emerged among the most powerful businessmen of their respective sectors, led by the likes of steel tycoon...

INVESTORS EYE STAKE IN PHILIPPINES POWER CO RED VULCAN.
May 1, 2008... MANILA, May 1 Asia Pulse - Potential investors have already approached the First Philippine Holdings Corp. with its planned disposal of a portion of Red Vulcan Holdings Corp. Elpidio Ibanez, president and chief operating officer of FPHC,...

PHILIPPINES CENTRAL BANK SEES APRIL INFLATION AT 6.4% - 7%.
May 1, 2008... MANILA, May 1 Asia Pulse - The Bangko Sentral ng Pilipinas (BSP) on Wednesday said continued increases of oil and non-oil commodity prices may result in 6.4 per cent to seven per cent average inflation in April. This, as March inflation...

PHILIPPINES' LOPEZ NOT KEEN ON INCREASING ITS STAKE WITH MERALCO.
May 1, 2008... MANILA, May 1 Asia Pulse - The Lopez Group has no plan to further increase its shares with the Manila Electric Company (Meralco) now more than 33 per cent. Oscar Lopez, chairman and chief executive officer of First Philippine Holdings...

KAZAKH URANIUM STRATEGY STUMBLES ALONG.
May 1, 2008... ALMATY, May 1 Asia Pulse - Kazakh authorities have reiterated "plans" to become a world leader in uranium production. Kazakhstan, apart from sitting on the world's largest untapped oil deposit off the Caspian coast, is also immensely rich...

INDIAN DOCTOR BECOMES CEO OF AMERICAN INDIA FOUNDATION.
May 1, 2008... NEW YORK, Apr 30 Asia Pulse - An Indian-origin doctor has been appointed Chief Executive Officer of the American India Foundation (AIF), which gives grants for education, public health and livelihood projects in India. Sanjay Sinho,...

AUSTRALIA'S ALLCO FINANCE PREDICTS BIG LOSS IN FY 08.(Financial report)
May 1, 2008... SYDNEY, May 1 Asia Pulse - Troubled Allco Finance Group Ltd (ASX:AFG) says it expects to post a significant loss in fiscal 2008, possibly more than $A1.5 billion ($US1.4 billion). Allco said that write-downs and impairments, together with...

PAKISTAN ELICTRICITY COMPANY HIKES POWER TARIFF BY 15 PER CENT.
May 1, 2008... KARACHI, May 1 Asia Pulse - The Pakistan Electricity Supply Company on Monday announced a 15 per cent hike in the electricity tariff, making the basic utility more expensive for the citizens, reported a private TV channel. The rise in...

ECONOMIC ZONE CONSTRUCTION KICKS OFF IN CENTRAL VIETNAM.
May 1, 2008... HANOI, May 1 Asia Pulse - Work started on a 950 billion VND (US$59.27 million) economic zone in the central Vietnamese province of Quang Tri on April 30. The economic zone, the second largest project in Quang Tri province in terms of...

VIETNAMESE CRAFT VILLAGE INFORMATION CENTRE NOW OPERATIONAL.
May 1, 2008... HANOI, May 1 Asia Pulse - A Craft Village Information Centre under the Vietnam Trade Village Association became operational in Hanoi on April 30. The centre will provide information on the states policies as well as legal documents...

HONG KONG NEWSPAPER HIGHLIGHTS - MAY 1, 2008.
May 1, 2008... HONG KONG, May 1 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST: - China Mobile is preparing to give away up to 100,000 handsets to attract customers to its struggling 3G service, industry watchers said. -...

PHILIPPINES DOE PUSHES 5-POINT ENERGY SUFFICIENCY PROGRAM.
May 1, 2008... MANILA, May 1 Asia Pulse - Energy Secretary Angelo Reyes said the government is now pushing for five-point energy strategy that would assure the Philippines' independence on imported fuel. Speaking before the delegates of the recently...

NO LIABILITY ON RCOM DUE TO INDIAN SC ORDER ON LIMITED MOBILITY.
May 1, 2008... NEW DELHI, May 1 Asia Pulse - Faced with a liability to pay about Rs 4 billion (US$98.91 million) levy to BSNL, India's Reliance Communications (BSE:532712) on Wednesday said it will not put any additional burden on the company as it has been...

CHINESE AUTOMAKERS SET TO SPARK CHANGE IN GLOBAL MARKET.(Industry overview)
May 1, 2008... (Full text of a statement. Contact details below.) (BW)(CA-FROST-&-SULLIVAN) Chinese Automakers Set to Spark Change in Global Market Automotive Writers PALO ALTO, Calif.--(BUSINESS WIRE) - May 01, 2008-- China's automakers hope to...

BUSINESS WIRE DAILY SUMMARY - APRIL 30, 2008.
May 1, 2008... A summary of news releases for April 30, 2008, compiled by Business Wire, the global leader in news distribution. To view any of these news release on Business Wire's website, please go to www.businesswire.com. 1) Category Code:...

SOUTH KOREA'S EXPORT GROWTH REACHES NEARLY 4-YEAR HIGH IN APRIL.
May 1, 2008... SEOUL, May 1 Asia Pulse - South Korea's export growth reached a nearly 4-year high in April as global demand for oil products, ships and electronic goods remained strong, a government report showed Thursday. Exports reached US$38.02...

PAKISTAN MA CONCERNED OVER BREACH OF ORGAN TRANSPLANT ORDINANCE.
May 1, 2008... KARACHI, May 1 Asia Pulse - The Pakistan Medical Association (PMA) and Karachi Bioethics Group (KBG), a group of physicians from different medical institutions in the City, organised a joint session at PMA House the other day in which they...

OIL PRICE INCREASE IN INDONESIA UNFAIR TO SMALL PEOPLE: OBSERVER.
May 1, 2008... JAKARTA, May 1 Asia Pulse - The Indonesian government's plan to raise fuel oil prices by an average 28.7 per cent next June is unfair to small people because it will be a hard financial blow to them, economic observer Ichsanuddin Noersy said....

SIX-PARTY TALKS LIKELY TO RESUME IN LATE MAY DESPITE OBSTACLES.
May 1, 2008... SEOUL, May 1 Asia Pulse - Despite allegations that North Korea proliferated nuclear technology to Syria, multilateral efforts to end the North's nuclear weapons program are likely to proceed, with the six-party talks possibly resuming in late...

PAKISTANI CAPITAL REPORTS 70% DRINKING WATER CONTAMINATED.
May 1, 2008... ISLAMABAD, May 1 Asia Pulse - Sixteen per cent of the filtered water supplied to Pakistan's Islamabad Capital Territory (ICT) is infected with bacteria, revealed a recent survey conducted by Pakistan Environmental Protection Agency (Pak EPA)...

N KOREA'S FOREIGN MINISTER VISITS CHINA.
May 1, 2008... SEOUL, May 1 Asia Pulse - North Korea's foreign minister Pak Ui-chun visited China for four days in late April and met with his Chinese counterpart Yang Jiechi in Beijing on April 28. According to the (North) Korean Central News Agency...

SINGAPORE EXPLORING AGRICULTURAL COOPERATION WITH INDONESIA.
May 1, 2008... GORONTALO, May 1 Asia Pulse - Opportunities for Singapore and Indonesia's Gorontalo province to cooperate in the agricultural sector are wide open, the city state's envoy said here Wednesday. As a small state which had no farm land,...

PHILIPPINES NAPOCOR FAILS TO REPAIR UNIT 1 OF CALACA COAL PLANT.
May 1, 2008... MANILA, May 1 Asia Pulse - The Failure of the state-run Philippines National Power Corporation (Napocor) to repair the unit 1 of the 600-megawatt Calaca coal-fired power facility is causing delays in settling the final payment of the $US787...

PARAMOUNT MOBILE, ARTIFICIAL LIFE TO CO-DISTRIBUTE MOBILE GAME.
May 1, 2008... (Full text of statement. Contact details below.) Paramount Mobile Entertainment and Artificial Life to Co-Distribute Mobile Game Globally 'SHOOTER' the Mobile Game Released Today HONG KONG, April 30, 2008 (PRIME NEWSWIRE) -- Hong...

INDONESIAN GOVT LIKELY TO RAISE FUEL PRICES IN JUNE.
May 1, 2008... JAKARTA, May 1 Asia Pulse - Amid the upward trend in crude prices in the world market which have reached US$120 per barrel, the Indonesian government is likely to raise domestic oil prices in June in an effort to reduce subsidy and alleviate...

AWB SUPPORTS GOVT MOVE TO AMEND AUSTRALIAN WHEAT MARKETING.
May 1, 2008... CANBERRA, May 1 Asia Pulse - Australian wheat exporter AWB (ASX:AWB) has welcomed a proposal to amend draft marketing arrangements aimed at toughening up protections against regional monopolies dominating the industry. A Senate committee...

PLN WANTS GUARANTEE THAT POWER PLANT LAND IS NOT PROTECTED.
May 1, 2008... PADANG, W Sumatra, May 1 Asia Pulse - Indonesia's State power company PT PLN oveerseeing West Sumatra wants assurances, before the signing of a cooperation agreement with the West Sumatra provincial administration on the construction of the...

PNB, ALLIED BANK BOARDS APPROVE MERGER.
May 1, 2008... MANILA, May 1 Asia Pulse - A merger between the Lucio Tan-controlled Philippine National Bank (PNB) and Allied Banking Corporation (Allied Bank) was approved Wednesday by the respective Boards of Directors of both banks, with PNB as the final...

INDONESIA'S PRESIDENT ASKS FOR RESTRAINT ON ENERGY CONSUMPTION.
May 1, 2008... JAKARTA, May 1$ Asia Pulse - Indonesian President Susilo Bambang Yudhoyono has asked all government officials and the people to economize on their energy consumption in facing soaring world crude prices which burdens the state budget. "I...

INDONESIA TO HOST FIRST SE ASIA TOURIST GUIDES' CONGRESS.
May 1, 2008... PADANG, W Sumatra, May 1 Asia Pulse - All sides engaged in the Indonesian tourism sector in West Sumatra were expected to take part in the 1st South East Asia Tourist Guides Association Congress in Padang from May 30 to June 2, 2008, to promote...

CONSULTANTS ASK JAKARTA TO TIGHTEN ISSUANCE OF BUILDING.
May 1, 2008... JAKARTA, May 1 Asia Pulse - The Indonesian Consultants Association (Inkindo) has officially asked the Jakarta City Administration to tighten the issuance and use of building permits. "Building permits should be used by the Jakarta City...

EUROPEAN HUMANITARIAN AID AGENCY PLANS TO CLOSE PYONGYANG OFFICE.
May 1, 2008... SEOUL, May 1 Asia Pulse - Amid warnings that North Korea is facing a food crisis this year, a European humanitarian aid agency plans to close its office in Pyongyang in mid-May, a Washington-based radio station said on April 29. Radio Free...

N KOREA CALLS FOR UN ACTION PLAN TO HELP DEVELOPING COUNTRIES.
May 1, 2008... SEOUL, May 1 Asia Pulse - North Korea has called on the U.N. to act fast to achieve international goals for assisting developing economies, saying the goals face "a serious challenge" from a widening global economic divide, a report said on...

IRAN'S CASPIAN SEA SHIPPING CO TRANSPORTS 1.1M TONS OF GOODS.
May 1, 2008... BANDAR ANZALI, May 1 Asia Pulse - Over 1.1 million tons of commodities have been transferred by the the Caspian Sea Shipping Company during the last Iranian year which ended on March 20. Announcing this on Tuesday, the managing director of...

PYONGYANG PLEDGES TO PROTECT INTELLECTUAL PROPERTY.
May 1, 2008... SEOUL, May 1 Asia Pulse - North Korea pledged to protect intellectual property (IP) in line with the World Intellectual Property Organization (WIPO) on the occasion of World IP day, which falls on April 26. The Minju Joson, organ of the...

N KOREA FORMS EMERGENCY OFFICE TO PREVENT BIRD FLU OUTBREAK.
May 1, 2008... SEOUL, May 1 Asia Pulse - North Korea has established an emergency state committee overseeing efforts to prevent a possible outbreak of bird flu, which has inflicted serious damage worldwide, according to North Korean television on April 29....

IRANIAN PROVINCE OF GILAN'S EXPORTS INCREASE BY 26 PERCENT.
May 1, 2008... BANDAR ANZALI, Gilan prov, May 1 Asia Pulse - Exports in Iran's Gilan province increased by 26 per cent in Farvardin, the first month of the Iranian year, from March 20 to April 19. Announcing this on Tuesday, a supervisor at the provincial...

PYONGYANG REJECTS SEOUL'S LIAISON OFFICE PROPOSAL.
May 1, 2008... SEOUL, May 1 Asia Pulse - In another sign of chilly inter-Korean relations, North Korea has spurned South Korean President Lee Myung-bak's proposal for the two countries to set up liaison offices in each other's capitals. Lee made the...

IRAN'S FREE TRADE ZONES HAVE INVESTMENT SECURITY IN UAE.
May 1, 2008... DUBAI, UAE, May 1 Asia Pulse - Investment security has been provided in the free trade zones nationwide, secretary of Iran's Free Trade Zones Supreme Council (FTZSC) announced on Tuesday. Addressing the monthly meeting of Iran-Dubai...

N KOREA TO BOYCOTT MAY DAY CELEBRATIONS AMID STRAINED TIES.
May 1, 2008... SEOUL, May 1 Asia Pulse - North Korea said on April 24 that it will boycott a joint May Day festival with South Korea, citing Seoul's tougher stance toward Pyongyang. Labor groups of the Koreas have marked the May 1 anniversary together...

IRAN-UAE TRADE EXCEEDS $US12 BILLION OVER PAST IRANIAN YEAR.
May 1, 2008... DUBAI, May 1 Asia Pulse - Trade between Iran and United Arab Emirates exceeded US$12 billion in the past Iranian year, Advisor to Minister of Commerce said. Addressing the monthly meeting of Iran-Dubai commerce council, Hossein Soltaninia...

ANALYSIS - PYONGYANG-SEOUL RELATIONS AFTER S KOREA-US SUMMIT.
May 1, 2008... SEOUL, May 1 Asia Pulse - South Korean President Lee Myung-bak and U.S. President George W. Bush held their first summit on April 19, 2008 at Camp David near Washington, D.C. During the summit, both presidents agreed to upgrade the ROK-U.S....

STOCKS - AUSTRALIAN SHARES LOWER TO NOON - MAY 1, 2008.
May 1, 2008... SYDNEY, May 1 Asia Pulse - The Australian stock market was lower at noon, on a day of lower trading volumes, with resource companies leading declines after commodity prices fell overnight. At 1200 AEST, the benchmark S&P/ASX200 index was...

SEOUL TO PLACE DEFENSE ORDERS WORTH US$6.5 BLN.
May 1, 2008... SEOUL, May 1 Asia Pulse - Amid all-out efforts by the Lee Myung-bak administration to boost economic growth, the defense acquisition agency on Thursday announced an economic stimulus package that will see the placing of nearly 1,800 orders,...

AFGHANISTAN VITAL FOR SOUTH-CENTRAL ASIA: US OFFICIAL.
May 1, 2008... WASHINGTON, May 1 Asia Pulse - The Assistant Secretary of State for South and Central Asian Affairs, Richard Boucher, has said peace, stability and development is vital for the entire South and Central Asia. "We do believe that the...

SAMSUNG HEAVY WINS US$942 MLN ORDER FOR DRILL SHIP.
May 1, 2008... SEOUL, May 1 Asia Pulse - Samsung Heavy Industries Co. (KSE:010140), the world's second-largest shipyard, said Thursday that it has won a US$942 million deal to build a drill ship. The deal with Sweden-based Stena Line Co. calls on Samsung...

S KOREAN CO LP DISPLAYS AIMS TO DOUBLE SALES OF SLIM CRT DISPLAY.
May 1, 2008... SEOUL, May 1 Asia Pulse - South Korean Company LP Displays, formerly known as LG.Philips Displays, said Thursday it aims to double its sales of slim cathode-ray tube (CRT) displays for conventional televisions this year because of strong demand...

OSAKA BOURSE LIKELY TO MAKE TENDER OFFER FOR JASDAQ IN JULY.
May 1, 2008... TOKYO, May 1 Asia Pulse - Osaka Securities Exchange Co. (TSE:8697) will likely launch a tender offer for Jasdaq Securities Exchange Inc. as early as July now that Jasdaq directors who had opposed an integration of the two stock market operators...

JAPAN'S UNY, IZUMIYA FORM ALLIANCE TO TAKE ON SUPERMARKET GIANTS.
May 1, 2008... NAGOYA, May 1 Asia Pulse - Supermarket operators Uny Co. (TSE:8270) and Izumiya Co. (TSE:8266) have agreed to a business tie-up involving joint procurement and product development as competition with bigger rivals heats up, The Nikkei learned...

JAPAN'S ORICON TO SELL STRUGGLING S KOREAN MOVIE DOWNLOAD SUBSIDIARY.
May 1, 2008... TOKYO, May 1 Asia Pulse - Oricon Inc. (TSE:4800) announced Wednesday that it will unload most of its stake in South Korean subsidiary Oricon CNS Inc. and remove the troubled provider of movie download services from its consolidated earnings....

METI UNVEILS PLANS TO HELP JAPANESE FIRMS EXPAND OVERSEAS.
May 1, 2008... TOKYO, May 1 Asia Pulse - The Ministry of Economy, Trade and Industry has announced plans to aid service-sector businesses in making inroads into overseas markets by assisting in debt collection and facilitating turnaround efforts. The...

32 REGIONAL JAPANESE BANKS LOG SECURITIES LOSSES OF US$1.5 BLN.
May 1, 2008... TOKYO, May 1 Asia Pulse - Some 32 publicly traded regional banks and banking groups chalked up a combined 159.7 billion yen (US$1.5 billion) in losses on securities holdings in fiscal 2007, based on disclosures made as of Wednesday. Bank...

AMID SLOWDOWN CONCERNS, BOJ NO LONGER BENT ON RAISING RATES.
May 1, 2008... TOKYO, May 1 Asia Pulse - Citing downside risks to the Japanese economy, the Bank of Japan opted to take a neutral stance on monetary policy in a major biannual report released Wednesday, marking a break from its pursuit of higher interest...

JAPAN'S YAMADA DENKI TO RELOCATE OR SHUT 13 STORES IN FY08.
May 1, 2008... TOKYO, May 1 Asia Pulse - Yamada Denki Co. (TSE:9831) plans to move or close 13 of its more than 500 directly run volume electronics retail stores across Japan during the current fiscal year ending next March, an increase from previous years,...