AsiaPulse News articles from November 2002

AsiaPulse News archives from November 2002

FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - NOV 1, 2002.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The Australian dollar opened firmer from yesterday's close with expectations of a rate cut in the United States anticipated to help keep the Australian dollar near current levels. At 0700 AEDT, the Australian...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - Highlights of today's newspapers: THE SYDNEY MORNING HERALD - Bookmaker Robbie Waterhouse allowed back to the race track for Melbourne Cup. Indonesia complains to federal government about the armed searchers...

AUSTRALIAN BANKS SHOULD HELP FARMERS THROUGH DROUGHT: PM.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - Prime Minister John Howard was adamant that Australia's profitable banks had a duty to help farmers through the current drought, he said today. Mr Howard backed the call of deputy prime minister and National...

FIGURES EXPECTED TO SHOW STRONG AUSTRALIAN RETAIL GROWTH.
November 1, 2002... CANBERRA, Nov 1 Asia Pulse - Economists are predicting that figures due out later today will reveal shoppers are spending freely again. Some economists are tipping retail sales figures for September to rise by 0.6 per cent on the back of...

STOCKS - DSE REMAINS TRADELESS - NOV 01, 2002.
November 1, 2002... STOCKS - DSE REMAINS TRADELESS - NOV 01, 2002 $all $in $stx pticloser NEW DELHI, Nov 1 Asia Pulse - The Delhi Stock Exchange remained tradeless today and recorded "zero" business as most of the brokers and other market participants traded on...

STOCKS - BSE CLOSES UP - NOV 1, 2002.
November 1, 2002... MUMBAI, Nov 1 Asia Pulse - Reliance Industries Ltd (RIL) snapped a three-day smart rally and suffered a sharp setback in mixed trend on the Bombay Stock Exchange (BSE) today on heavy selling by domestic funds at higher price levels. ...

FOREX - US DOLLAR CHEAPER AGAINST RUPEE - NOV 1, 2002.
November 1, 2002... FOREX - US DOLLAR CHEAPER AGAINST RUPEE - NOV 1, 2002 $all $in $ftx pticloser MUMBAI, Nov 1 Asia Pulse - The U.S. Dollar ended further cheaper against the Rupee at Rs 48.33/34 per dollar but the Pound Sterling turned dearer at Rs 75.63/65 per...

OVER 23 MILLION MOBILE PHONE SUBSCRIBERS IN TAIWAN.
November 1, 2002... TAIPEI, Nov 1 Asia Pulse - There were 23.73 million mobile phone subscribers in Taiwan by the end of September, or 105.5 subscribers for every 100 people, according to statistics released by the Directorate General of Budget, Accounting and...

TAIWAN GOV'T MUST TAKE STRONG ROLE IN CHINA TALKS: PRESIDENT.
November 1, 2002... TAIPEI, Nov 1 Asia Pulse - President Chen Shui-bian said his administration will bravely face up to the issues regarding opening direct transport links with mainland China even though those issues remain complicated and sensitive. Chen...

THAI OFFICIALS ARRIVE IN TAIPEI TO DISCUSS LABOR PACT.
November 1, 2002... TAIPEI, Nov 1 Asia Pulse - A nine-member Thai delegation, led by Vice Minister of Labor and Social Welfare Apai Chantanajulaka, has arrived in Taipei to discuss a long-delayed bilateral agreement on the direct hiring of Thai laborers. It...

INDIA'S ICICI BANK Q2 NET PROFIT SURGES TO US$58.9 MLN.
November 1, 2002... MUMBAI, Nov 1 Asia Pulse - ICICI Bank (BSE:ICBK) has posted a net profit of Rs 2.85 billion (US$58.9 million) for the second quarter ending September 2002 as compared to Rs 661.5 million for the corresponding period last fiscal year. The...

DELL, HEWLETT-PACKARD TAIWAN'S LEADING COMPUTER PARTS BUYERS.
November 1, 2002... TAIPEI, Nov 1 Asia Pulse - The Dell Computer Corporation and Hewlett-Packard Ltd. (HP) will purchase a combined estimated total of US$22 billion worth of computer parts and components in Taiwan this year, according to the Ministry of Economic...

HSBC PLANS TO ADD 2000 PEOPLE IN INDIA FOR BACK-OFFICE WORK.
November 1, 2002... BANGALORE, Nov 1 Asia Pulse - HSBC plans to double its staff strength in India for back-office operations from the current 2000 to 4000 in two years, a senior company executive said. Malcolm Wagget, Chief Operating Officer of HSBC's...

KYOTO PROTOCOL NO HINDRANCE FOR CONSENSUS: U.S.
November 1, 2002... NEW DELHI, Nov 1 Asia Pulse - United States today said it will not stand in the way of "a call for Kyoto Protocol ratification" in the Delhi Declaration on Climate Change (DDCC) but would not compromise on national priorities. "Mention of...

BALI TO HIT AUSTRALIAN ECONOMY LESS THAN SEPT 11 ON U.S.: PM.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - The recent bombings in Bali would have less impact on the Australian economy than the September 11 tragedy had on the US economy, Prime Minister John Howard said today. Mr Howard said terrorist attacks since...

COMPREHENSIVE MEASURES TO ACCELERATE REFORMS IN JAPAN.
November 1, 2002... (Full text of a statement. Contact details below.) Tokyo, Oct. 31 /KYODO JBN-AsiaNet/ -- On October 30, The Japanese Government compiled "Comprehensive Measures to Accelerate Reforms." The outline of this new package is as follows; In...

INDIAN SOFTWARE PARK DROPS INT'L LONG-DISTANCE TELEPHONY PLAN.
November 1, 2002... NEW DELHI, Nov 1 Asia Pulse - Software Technology Park of India (STPI) is understood to have dropped its international long distance telephony (ILD) plan to focus on its present activities. ILD plan has been dropped to focus on the core...

STOCKS - AUSTRALIAN STOCKS OPEN LOWER - NOV 1, 2002.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The Australian share market slipped at the open, following a weaker close on Wall Street overnight. Banks, resources and media giant News Corp were all weaker, while biotech ResMed made a strong early advance...

55 PAKISTAN SOFTWARE FIRMS SIGNED UP FOR ISO 9001 CERTIFICATION.
November 1, 2002... LAHORE, Nov 1 Asia Pulse - Pakistan Software Export Board (PSEB) under its industry standardisation project has signed up 55 local software companies to help them achieve ISO 9001 certification. This programme was launched to help 80 software...

PAKISTAN PETROLEUM DISCOVERS GAS AT KHANPUR WELL.
November 1, 2002... KARACHI, Nov 1 Asia Pulse - Pakistan Petroleum Limited (PPL) has discovered gas at its Khanpur well X-1 in Sindh on Wednesday. According to the announcement made here on Wednesday, it is the fifth exploration well drilled and the fourth...

BHP BILLITON REPORTS 9 PCT DROP IN SEPT QTR NET PROFIT.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - Lower commodity prices and a drop in copper volumes due to a weak market have led to resources giant BHP Billiton (ASX:BHP) posting a nine per cent drop in net profit for the September quarter. However, the...

PAKISTAN TELECOMMUNICATION LTD Q1 PROFIT UP 18 PCT.
November 1, 2002... KARACHI, Nov 1 Asia Pulse - Pakistan Telecommunication Limited profit for the first quarter ended Sept 30, 2002, posted an increase of nearly 18 per cent, to Rs 4.977 billion (US$84.7 milllion), translating into an earning per share of Re 0.98,...

PAKISTAN INT'L AIRLINES SIGNS DEAL TO BUY 8 BOEING 777S.
November 1, 2002... KARACHI Nov 1 Asia Pulse - The national flag carrier, Pakistan International Airlines, added a new chapter to its long history, which has seen many a twist and turn, when a definitive agreement was signed with the Boeing Company, for the...

H1 PROFIT FOR AUSTRALIA'S MIM DEPENDS ON METAL PRICE INCREASE.
November 1, 2002... BRISBANE, Nov 1 Asia Pulse - Metal prices would need to improve if diversified miner MIM Holdings Ltd (ASX:MIM) is to make a first half profit this year. The company's share price fell more than seven per cent yesterday, and a whopping...

AUSTRALIA'S POCKETMAIL TO SHUT DOWN LOCAL TECH SUPPORT.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - Publicly-listed message technology company Pocketmail Group Ltd (ASX:PKT) will shut down its Australian technical support operation in the next two months, but has flagged minimal staff cuts. The company also...

PRIVATISATION OF KARACHI ELECTRIC SUPPLY CORPORATION DELAYED.
November 1, 2002... ISLAMABAD, Nov 1 Asia Pulse - The Privatisation Commission has delayed the sale of a 74 per cent stake in the Karachi Electric Supply Corporation (KESC), as the pre-qualified bidders have asked for more time to assess the new government,...

INTERNATIONAL MONETARY FUND TEAM TO ARRIVE IN PAKISTAN ON NOV 7.
November 1, 2002... ISLAMABAD, Nov 1 Asia Pulse - The International Monetary Fund (IMF) is schedule to send a staff mission to Islamabad on November 7 to carry out the fourth review of Pakistan's economy under the Poverty Reduction and Growth Facility (PRGF), a...

AUSTRALIA'S CRANE GROUP BUYS SMART ALUMINIUM.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - Crane Group Ltd (ASX:CRG) expects to increase its annual revenue by A$40 million (US$22.15 million) after its acquisition of metal distributor Smart Aluminium and various other assets. In announcing the deals...

HONG KONG NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... HONG KONG, Nov 1 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST - China Telecom was forced to halt Asia's biggest initial public offering of the year yesterday after international investors cold-shouldered the...

AUSTRALIA'S MYER FAMILY CO SUPPORTS COLES MYER CHAIRMAN, CEO.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - The Myer Family Company has announced that it is backing chairman Rick Allert and chief executive John Fletcher, making Solomon Lew's attempts to stay on the Coles Myer Ltd (ASX:CML) board that much harder. ...

AUSTRALIA'S GLOBE INT'L RELEASES EARNINGS PER SHARE FORECAST.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - An earnings per share (EPS) forecast has been released by surf and skatewear group Globe International Ltd (ASX:GLB) after suffering a share price plunge following an earlier profit warning. Globe chairman...

AUSTRALIA'S FAIRFAX LTD WANTS FOXTEL-OPTUS PAY TV DEAL REJECTED.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - John Fairfax Holdings Ltd (ASX:FXJ) called for regulators to reject the controversial Foxtel-Optus pay TV deal "outright", sparking a bitter war of words. Fairfax has labelled key undertakings given by Foxtel and...

LIGHTPOINTE SIGNS CENTURY MAN TO DISTRIBUTE OF FREE-SPACE OPTICS GEAR IN CHINA.
November 1, 2002... (Full text of statement. Contact details below.) SAN DIEGO Calif. and SHENZEN, Oct. 31 PRNewswire-AsiaNet - LightPointe, an innovator, designer and manufacturer of carrier-class optical transmission equipment using Free-Space Optics (FSO)...

AUSTRALIA'S PASMINCO RECORDS BEST ZINC PRODUCTION RATE IN 25 YRS.
November 1, 2002... BRISBANE, Nov 1 Asia Pulse - Pasminco Ltd (ASX:PAS) moved closer to relisting on the Australian Stock Exchange after it produced its best zinc production rate in 25 years. Pasminco said the three months to September 2002 had been a...

RECORD PROFIT FOR AUSTRALIA'S WESTPAC BUILT ON STAFF CUTS: UNION.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - Westpac Banking Corp's (ASX:WBC) announcement of a record A$2.192 billion (US$1.22 billion) net profit for the year to September 30, 2002 followed a decade in which it cut staff by 17,000, Finance Sector Union...

RAM RATES PROPOSED US$131.6 MLN BONDS OF MALAYSIA'S RHB CAPITAL.
November 1, 2002... KUALA LUMPUR, Nov 1 Asia Pulse - Rating Agency Malaysia (RAM) has assigned an enhanced long-term rating of A1(s) to the proposed RM500 million (US$131.58 million) Serial Fixed Rate Bonds by RHB Capital Berhad (KLSE:RHBC). RAM has also...

CHINESE LEADERSHIP CHANGE SHOULD ENHANCE AUSTRALIAN LINKS.
November 1, 2002... BRISBANE, Nov 1 Asia Pulse - Australia can expect better relations with China after the expected smooth change in the country's leadership this month, a Chinese politics expert said today. Griffith University Chinese politics lecturer...

PHILIPPINE LAWMAKERS URGE NAPOCOR TO CLOSE COAL-FIRED PLANTS.
November 1, 2002... MANILA, Nov 1 Asia Pulse - The House of Representatives has urged the state-run National Power Corp. (Napocor) to immediately shut down its coal-fired power plants due to the danger they pose to human and animal life, vegetation and the coastal...

PRICES FALL ON PAKISTAN'S COTTON MARKET.
November 1, 2002... KARACHI, Nov 1 Asia Pulse - Cotton prices on Wednesday eased modestly from the recent higher levels as arrivals of phutti into the ginneries gathered fresh momentum. Reports that growers are not inclined to hold long positions or send...

NEW TERMINAL AT PHILIPPINES' NINOY AQUINO INT'L AIRPORT READY.
November 1, 2002... MANILA, Nov 1 Asia Pulse - The ultra-modern and deluxe Ninoy Aquino International Airport (NAIA) Terminal 3 is now ready for takeoff on December 15 as the world's newest international air terminal. Granite floors, overhead lights of the...

DISPUTE OVER AUDITORS' ROLE IN COLLAPSE OF AUSTRALIA'S HIH.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - Evidence obtained at the royal commission into HIH Insurance's spectacular A$5.3 billion (US$2.94 billion) appears to suggest that HIH's auditors were there simply to make sure the published accounts added up. ...

DEMAND FOR H-SHAPED STEEL IN KOREA TO HIT 2.4 MLN TONS THIS YR.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - Demand for H-shaped steel has risen by 21 per cent, or 325,000 tons, in the civil engineering and construction sectors to September when compared to the same period last year, industry sources said today. The...

KOREAN LISTED FIRMS TO DISCLOSE THEIR WEBSITES CONTENTS.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - Listed firms have to disclose information on their web sites to general investors to prevent possible misuse of the information, the Korea Stock Exchange (KSE) said Friday. The KSE and the KOSDAQ Stock Market said...

KOREAN NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - Highlights of today's newspapers: DONG-A ILBO - Gov't to relieve individual defaulters from extravagancy, causing worry over the abuse of the benefit - 17 or 18 MDP lawmakers to bolt from the party by...

AUSTRALIA'S AUSTEREO GROUP CANCELS FUTURE M ONE MUSIC CONCERTS.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The M One series of music concerts has proven to be unprofitable and, as such, Broadcaster Austereo Group Ltd (ASX:AEO) has said it will no longer run the shows. However, the company said it would continue its...

AUSTRALIAN RATE HIKE UNLIKELY FOLLOWING DROP IN BUILDING APPROVALS.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - A sharp drop in building approvals figures in September has eradicated any remaining possibility of an interest rate hike next week, according to economists. Building approvals fell a seasonally adjusted 19.4 per...

AUSTRALIAN LIVE SHEEP EXPORTS MAY RECOMMENCE WITH NEW GOVT PLAN.
November 1, 2002... CANBERRA, Nov 1 Asia Pulse - A new plan designed to curb high sheep stock losses, unveiled by federal Agriculture Minister Warren Truss, may lead to the resumption of live exports to the Middle East from Portland, Victoria. The government...

KOREA'S SOUTH CHUNGCHEONG POSTS HIGHEST EXPORT RISE JAN-SEPT.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - South Chungcheong Province exported a record 10.8 billion won (US$8.83 million) worth of goods in the first nine months of the year, up 20.6 per cent from the same period a year ago, the Korea International Trade...

AUSTRALIA'S SEVEN NETWORK TAKES PAY DEAL DIRECT TO STAFF: UNIONS.
November 1, 2002... MELBOURNE, Nov 1 Asia Pulse - Channel Seven's (ASX:SEV) management is attempting to avoid unions by taking a new pay deal directly to staff, according to unions representing the company's employees. The Media, Entertainment and Arts...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - Debt-Cash Flow Ratio Of 10 Seen As Yardstick For Govt To Pick Viable Companies - IHI To Develop 1st Domestic Engines For Jetliner...

AUSTRALIA'S ST GEORGE BANK LURES RIVAL CBA EXECUTIVE.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - A former colleague of St George Bank Ltd's (ASX:SGB) chief executive Gail Kelly, Nick Basile from the Commonwealth Bank of Australia Ltd (ASX:CBA), has decided to join her new management team at the regional bank. ...

NOMURA BACK IN THE BLACK IN FISCAL FIRST HALF.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Nomura Holdings Inc. (TSE:8604) on Thursday reported 40.6 billion yen (US$331.40 million) in income before taxes on a consolidated basis for the six months ended Sept. 30, compared with a 122 billion yen loss for the...

STOCKS - AUSTRALIAN STOCKS DOWN AT NOON - NOV 1, 2002.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The Australian share market had lost more than half the ground it gained yesterday by noon, brought down by weaker banking and resource sectors and a softer News Corp. The Commonwealth Bank of Australia recorded...

JAPAN'S MAZDA TO HALVE SALES FIRMS BY REGION.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Mazda Motor Corp. (TSE:7261) announced Thursday that it will consolidate its 42 domestic sales firms to 18 by region by the end of March 2003 to boost sales efficiency. The goal is to reduce indirect costs and...

FOREX - AUSTRALIAN DOLLAR FIRMER AT NOON - NOV 1, 2002.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The Australian dollar was firmer from yesterday's close at noon but little changed through the morning. At 1200 AEDT, the Australian dollar was worth $US0.5550/55 compared with 0.5532/37 at yesterday's close. ...

FUJIFILM SHIFTING TO 401(K)-STYLE PENSION PLAN.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Fuji Photo Film Co. (TSE:4901) plans to dissolve its employee pension fund by next March and switch to a defined-contribution pension plan in April 2003. Amid a worsening environment for managing pension plans, the...

JAPAN'S SNOW BRAND, ITOCHU SUSPEND TALKS TO MERGE FROZEN FOOD OPS.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Snow Brand Milk Products Co. (TSE:2262) and Itochu Corp. (TSE:8001) have suspended the negotiations to integrate their frozen food businesses, The Nihon Keizai Shimbun learned Thursday. The talks hit a snag because...

JAPAN'S SHIN-ETSU CHEMICAL INTERIM NET PROFIT RISES 7%.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Shin-Etsu Chemical Co. (TSE:4063) on Thursday announced a consolidated net profit of 37 billion yen (US$301.97 million) for the fiscal half ended Sept. 30, up 7 per cent on the year and the highest ever for an interim...

JAPAN'S TORAY USES NANO-SIZED FIBERS FOR ABSORBENT NYLON TEXTILE.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Toray Industries Inc. (TSE:3402) announced Thursday that it has developed a way to synthesize fibers that are mere tens of nanometers in diameter. By using this technology, the company has bundled more than 1.4...

JAPAN'S MIZUHO, SHINKIN SECURITIES RECORD PRETAX PROFITS IN 1ST HALF.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Two bank-affiliated securities firms -- Mizuho Securities Co. and Shinkin Securities Co. -- recorded pretax profits for the fiscal half ended Sept. 30. But Norinchukin Securities Co., another such brokerage, posted...

STOCKS - KOREAN STOCKS OPEN LOWER - NOV 1, 2002.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - Seoul shares tumbled early Friday after rebounding slightly in the previous session as U.S. blue chips went down overnight hit by renewed corporate scandals. The benchmark Korea Composite Stock Price Index posted...

OCT AUSTRALIAN MANUFACTURING INDEX FALLS BUT OUTLOOK STILL GOOD.
November 1, 2002... SYDNEY, Nov 1 Asia Pulse - The Australian Industry Group said whilst the Australian performance of manufacturing index fell in October, the overall outlook remains good. The PMI came in at 56.3 in October, a fall of 0.1 points from the...

INDONESIAN GOVT TO INTRODUCE ANTI-TERROR BILL NEXT WEEK.
November 1, 2002... JAKARTA, Nov 1 Asia Pulse - Indonesian Vice President Hamzah Haz Thursday said the government will introduce the anti-terror bill in the House of Representatives next week. "I think it will be ready next week," he said after officiating...

INDONESIA TO FACE CEMENT SHORTAGE IN 2006.
November 1, 2002... JAKARTA, Nov 1 Asia Pulse - Indonesia is expected to face a shortage of cement in 2006 or 2007 due to rising domestic demand, while new foreign investment in this sector is not forthcoming, an official said. "Our domestic demand for cement...

AUSTRALIA'S RETAIL TRADE UP 0.7 PCT IN SEPT TO US$8 BLN.
November 1, 2002... CANBERRA, Nov 1 Asia Pulse - Official figures released today showed big spending at department and clothing stores pushed up retail sales in September. Allowing for seasonal factors, retail trade rose 0.7 per cent in September to A$14.43...

JAPAN'S TANIDA MAKING ANTI-COUNTERFEITING STICKERS IN CHINA.
November 1, 2002... MATSUE, Nov 1 Asia Pulse - Sticker producer Tanida has established a manufacturing subsidiary in China and begun making stickers that can be used to differentiate counterfeit goods from legitimate products. Based in Jilin Province, the new...

JAPAN'S RCC SECURITIZES MORE THAN US$8.15 BLN IN LOANS, REAL ESTATE.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - The Resolution and Collection Corp. (RCC) announced Thursday that it has securitized a total of more than 1 trillion yen (US$8.15 billion) in bad loans and collateral real estate. The government's anti-deflation...

JAPAN'S MILLEA TO TAKE 30% STAKE IN TAIWAN CASUALTY INSURER.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Millea Holdings Inc. (TSE:8766), the holding company for Tokio Marine & Fire Insurance Co. and Nichido Fire and Marine Insurance Co., said Thursday that it will invest about 3.3 billion yen (US$26.91 million) as early...

INDONESIAN NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... JAKARTA, Nov 1 Asia Pulse - Highlights of today's newspapers: THE JAKARTA POST - The House of Representatives' budget committee and the government agreed to slash next year's economic growth forecast by a full percentage point to 4...

OMAN HOSTS SEMINAR ON MARKETING PRODUCTS TO KENYA, TANZANIA.
November 1, 2002... SALALAH, Nov 1 Asia Pulse - A seminar on marketing Omani products to Kenya and Tanzania" was held at Oman Chamber for Commerce and Industry OCCI, Salalah Branch today under the auspices of Sheikh Mohammed bin Suhail Jidad, OCCI Salalah Branch...

KOREA'S KEANGNAM ENTERPRISES TO BE SOLD AFTER WORKOUT PROGRAM.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - Keangnam Enterprises Ltd. is expected to be sold after completing its workout program, creditors for the construction company said Friday. They said a meeting of creditor institutions will be held around the...

KOBE STEEL TO FORM WELDING JOINT VENTURE IN CHINA.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - The Kobe Steel Group (TSE:5406), Matsushita Industrial Equipment Co., Ltd. and China's Tangshan Kaiyiian Electric Co., Ltd. entered into an agreement today to establish a joint venture in China to manufacture and...

JAPAN'S LIVIN' ON THE EDGE TO TAKE OVER LIVEDOOR'S NET SERVICES.
November 1, 2002... TOKYO, Nov 1 Asia Pulse - Internet solution provider Livin' on the Edge Co. yesterday announced that it will take over the membership and Internet service operations of major Internet service provider livedoor Inc., which earlier that day filed...

FOREX - US DOLLAR HIGHER AGAINST WON AT OPEN - NOV 1, 2002.
November 1, 2002... SEOUL, Nov 1 Asia Pulse - The U.S. unit improved marginally against the Korean won early Friday. Opening higher at 1,222.50 won, it rose to 1,225.40 won before falling to 1,222.50 won as of 10:46 a.m., up slightly from the previous day's...

INDONESIAN GOV'T SET TO REVITALIZE WOODWORKING INDUSTRY.
November 1, 2002... SURABAYA, Nov 1 Asia Pulse - Indonesia's ailing woodworking industry is set to be revitalized after the government decided to implement a woodworking industry revitalization agency. Speaking to the press after opening a national...

STOCKS - MALAYSIAN STOCKS FLAT IN EARLY TRADE - NOV 1, 2002.
November 1, 2002... KUALA LUMPUR, Nov 1 Asia Pulse - The Malaysian sharemarket was flat in early trade due to lack of leads. At 10:21 am, the Kuala Lumpur Stock Exchange Composite Index rose 0.01 points at 659.58. The broader Emas Index slipped 0.02...

PROFILE - CHINA'S BANKING INDUSTRY (NOV 2002).
November 1, 2002... ************************************************** A PROFILE OF CHINA'S BANKING INDUSTRY PREPARED BY ASIA PULSE ANALYSTS (UPDATED NOV 2002) ************************************************** OVERVIEW: In the first three...

IMPLEMENTATION OF KYOTO PROTOCOL EXPECTED TO BE DELAYED.
November 1, 2002... NEW DELHI, Nov 1 Asia Pulse - The Kyoto Protocol, which is slated to be implemented in the first half of next year, is expected to be delayed, sources said today. The delay came as Russia changed its promise to ratify the international...

THAI NEWSPAPER HIGHLIGHTS - NOV 1, 2002.
November 1, 2002... BANGKOK, Nov 1 Asia Pulse - Highlights of today's newspapers: THE BANGKOK POST: - Thai Military Bank president Somchai Sakulsurarat has announced his - The Charoen Pokphand Group has entered into negotiations with several foreign...

PHILIPPINE TO GIVE FARM IMPORTS EXTENDED DUTY-FREE PRIVILEGES.
November 1, 2002... MANILA, Nov 1 Asia Pulse - The Department of Agriculture (DA) is supporting a congressional bill which seeks to extend the duty-free privileges on the importation of farm and fishery inputs up to 10 years as mandated in provisions of the...

INDONESIA'S PT ASTRA INTN'L POSTS 3.6% INCREASE IN FY NET INCOME.
November 1, 2002... JAKARTA, Nov 1 Asia Pulse - Indonesian holding company PT Astra International (JSX:ASII) reported a net income of Rp22.69 trillion (US$2.52 billion) in the first nine months of this year, an increase of 3.6 per cent year-on-year. Astra...

CONOCOPHILLIPS INCREASES CRUDE OIL OUTPUT IN VIETNAM.
November 1, 2002... HOUSTON, Nov 1 Asia Pulse - ConocoPhillips announced that the Rang Dong Field, Vietnam Block 15-2, achieved first oil from two new well head platforms. These additional platforms have boosted production from the field by 40 per cent, it...

INT'L AIRLINES AIR SAFETY CONCERNS OVER NEW PHILIPPINE AIRPORT.
November 1, 2002... MANILA, Nov 1 Asia Pulse - International airlines are hesitant to transfer to the new Ninoy Aquino International Airport (NAIA) 3 because they said it is not safe for passengers and aircraft. The Board of Airline Representatives (BAR), the...

INDONESIA'S BANK MANDIRI OFFERS TO HELP FINANCE PENI ACQUISITION.
November 1, 2002... JAKARTA, Nov 1 Asia Pulse - The state-owned Bank Mandiri said it will provide a loan for investors to finance the acquisition of petrochemical company PT Petrokimia Nusantara Interindo (PENI) on the condition that the acquisition will lead to...