AsiaPulse News articles from September 2002

AsiaPulse News archives from September 2002

FOREX - AUSTRALIAN DOLLAR OPENS SLIGHTLY DOWN - SEPT 2, 2002.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - The Australian dollar was down slightly in rangebound trade with dealers noting options on both sides limiting movement on the local currency. At 0700 AEST, the Australian dollar was worth $US0.5500/05 from...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH: - A woman and her daughter were abducted and tied up in a Northern Territory national park. - Officers from the premier's Department are examining...

ANALYSTS PREDICT KOREAN INDEX WILL MOVE BETWEEN 710 AND 760.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The Korea Composite Stock Price Index is expected to move in a range of 710 and 760 point next week due to few incentives to push up the market and unstable U.S. stocks, analysts said Saturday. The main stock...

TYPHOON RUSA SUSPENDS AIR, SEA, ROAD ROUTES ON KOREAN PENINSULA.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Typhoon Rusa penetrated the center of the Korean Peninsula late Saturday to cause severe property damages and human losses and suspend air and sea routes and roads and railways across the Korean Peninsula. Rusa,...

JAPAN PM TO OFFER ECONOMIC AID TO N.K. INSTEAD OF COMPENSATION.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Japanese Prime Minister Koizumi Junichiro will soon propose that Japan offer economic aid to North Korea instead of war compensation, a local daily reported Saturday. Japanese vernacular Yomiuri Shimbun said that...

AUSTRALIAN ECONOMY TIPPED TO SEE 0.9 PCT GDP GROWTH IN JUNE QTR.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Australia is expected to continue to show economic growth in the June quarter. A survey of economists by AAP showed gross domestic product (GDP) is tipped to rise 0.9 per cent in the June quarter. The data will...

PAKISTAN'S RICE EXPORTS DECLINE BY 26.47 PCT IN JULY-AUG.
September 2, 2002... KARACHI, Sept 2 Asia Pulse - The depleting stocks of rice in the country have marred the exports of rice as in first two months (July-August 2002) of fiscal 2002-03, it declined by 26.47 per cent. However, the rice exporters fetched better...

AUSTRALIA'S FOSTER'S CONSIDERS BOLT-ON WINE ACQUISITIONS.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Beer and wine giant Foster's Group Ltd (ASX:FGL) is at this stage examining about eight or nine bolt-on wine purchases, chief executive officer Ted Kunkel said today. Speculation is growing Foster's is one of...

W AUSTRALIAN DIAMOND MINE SET TO GENERATE US$54.9 MLN IN EXPORTS.
September 2, 2002... PERTH, Sept 2 Asia Pulse - A northern Western Australia diamond mine is expected to generate more than $A100 million ($US54.95 million) in export earnings over the next three years. Officially opening the Ellendale Diamond Mine today, West...

PHILIPPINE ECONOMIC MANAGERS TARGET FOREIGN INVESTMENT.
September 2, 2002... MANILA, Sept 2 Asia Pulse - The country's economic managers vowed yesterday to recapture the flow of foreign funds, mainly US funds, that used to be invested in emerging markets like the Philippines but are now being channeled elsewhere. ...

AUSTRALIA'S LAMINEX RESCHEDULES US$247 MLN ASX FLOAT.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Laminex Group has appointed a new chief executive and rescheduled its $A450 million ($US247.28 million) Australian Stock Exchange float for October under a restructuring of its senior management ranks, The Sydney...

MINISTER PREDICTS JUMP IN OVERLAND TOURISTS TO MT GEUMGANG.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Vice Finance and Economy Minister Yoon Jin-shik Saturday predicted a sharp rise in the number of South Korean tourists to North Korea's scenic Geumgang Mountain in November when construction of a makeshift road to the...

SAP EXPECTS 50% REVENUE GROWTH IN INDIA BY NEXT YEAR.
September 2, 2002... BANGALORE, Sept 2 Asia Pulse - SAP Labs, the world's leading e-business solutions provider, envisaged a 50 per cent growth in its revenue by next year in India, Clas Neumann, company Joint Managing Director, said here on Friday. SAP...

DISMISSAL BILL ON KOREAN JUSTICE MINISTER NULLIFIED.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The majority Grand National Party (GNP)-introduced motion to dismiss Justice Minister Kim Jung-kil was nullified Saturday afternoon. The GNP tried unsuccessfully to pass a dismissal bill for Justice Minister as...

INDIA'S SSI LTD PLANNING ACQUISITIONS TO BUILD SIZE.
September 2, 2002... CHENNAI, Sept 2 Asia Pulse - SSI Ltd (BSE:SFTS) said that the company was planning a few major acquisitions in due course as "size mattered a lot in the current competitive scenerio". "IT business especially technology side has already...

PAKISTAN TEXTILE INDUSTRY URGED TO BUY US, EU BRAND NAMES.
September 2, 2002... KARACHI, Sept 2 Asia Pulse - Commerce Minister Abdul Razak Dawood on Friday advised textile tycoons to buy and acquire the US and European brand names as well as distribution companies to meet the challenges that may arise following the removal...

ANDHRA PRADESH GOVT SIGNS MOU WITH INTEL.
September 2, 2002... HYDERABAD, Sept 2 Asia Pulse - Andhra Pradesh government on Friday signed a Memorandum of Agreement with global chip giant Intel Corporation to expand the Intel Teach to the Future programme to over 1,100 schools as part of an endeavour to...

INDIA'S RBI TO REASSESS GROWTH RATE IN OCTOBER.
September 2, 2002... MUMBAI, Sept 2 Asia Pulse - The Reserve Bank of India is to re-assess the projected growth rate of 6-6.5 per cent for 2002-03 in October by which time reliable information on effects of drought on agriculture and industrial output will be...

KOREAN NEWSPAPER HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Highlights of today's newspapers: DONG-A ILBO - Typhoon Rusa incurs worst-ever damages to nation, with at least 130 killed or listed missing - Pyongyang, Tokyo embark on preparations for bilateral summit...

AUSTRALIAN TRADE MINISTER PLAYS DOWN THREAT TO IRAQI WHEAT SALES.
September 2, 2002... CANBERRA, Sept 2 Asia Pulse - Australian Trade Minister Mark Vaile has played down fears that wheat sales to Iraq could be jeopardised because of Australia's support for a possible United States strike. Iraq has threatened to cancel all...

HCL TECH'S NET PROFIT IN FY02 DOWN 11%; Q4 NET DOWN 48%.
September 2, 2002... NEW DELHI, Sept 2 Asia Pulse - HCL Technologies (BSE:HCLT) on Friday posted a 11 per cent drop in its net profit for the fiscal ended June 30, to Rs 4.25 billion (US$87.7 million) against Rs 4.80 billion in the last fiscal. "Extraordinary...

INDIA'S GOA SHIPYARD TO EXPORT FAST PETROL VESSEL.
September 2, 2002... PANAJI, Sept 2 Asia Pulse - The Goa Shipyard Limited (GSL), a Government of India undertaking, is looking forward to export its indigenously designed Fast Petrol Vessel (FPV), being built for the Indian Coast Guard. The company was in the...

MOODY'S REVISES BANK OF TAIWAN'S RATING OUTLOOK TO NEGATIVE.
September 2, 2002... NEW YORK, Sept 2 Asia Pulse - Moody's has revised the rating outlook for the Bank of Taiwan (BOT) to negative from stable. The bank's ratings remain unchanged: long and short-term deposits at A1 and Prime-1 respectively, and bank financial...

TSMC NOT TO MOVE TOWARD MAINLAND WITHOUT GOVT APPROVAL.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - Taiwan Semiconductor Manufacturing Co. (TSMC)(TAIEX:2330) Chairman Morris Chang said Friday that the TSMC will not move toward mainland China before getting approval from the government. Chang made the remarks...

STOCKS - AUSTRALIAN SHARES OPEN DOWN - SEPT 2, 2002.
September 2, 2002... MELBOURNE, Sept 2 Asia Pulse - The Australian stock market opened down today after a sluggish week on the United States market. The local market had been expected to get off to a sluggish or directionless start given a public holiday in the...

TAIWAN AIRLINES TO HAVE BOEING JETS INSPECTED.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - Taiwan's three airline companies that operate Boeing passenger jets will be asked to have the aircraft inspected upon the request of the U.S. Federal Aviation Administration, Civil Aeronautics Administration (CAA)...

AUSTRALIAN MINISTER CITES NECESSITY OF GOVT SUGAR BAILOUT.
September 2, 2002... CANBERRA, Sept 2 Asia Pulse - A federal government bailout of the struggling sugar industry was necessary to prop up towns along the Queensland and northern NSW coast, Trade Minister Mark Vaile said today. Cabinet is considering a $A100...

TAIWAN'S ECONOMIC GROWTH RATE TO EXCEED ORIGINAL TARGET.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - With the global economy gradually recovering, government economic agencies and major domestic economic research institutes have generally predicted that Taiwan's economic growth rate will exceed the Cabinet's...

TAIWAN ECONOMICS MINISTER ATTENDS MEETING IN NEW ZEALAND.
September 2, 2002... AUCKLAND, Sept 2 Asia Pulse - Former New Zealand Prime Minister Jim Bolger has made a positive response to the proposal that New Zealand and Taiwan sign a free trade agreement to boost bilateral economic cooperation, ROC Minister of Economic...

KOREAN GOVT TO RELEASE STOCKPILES OF GOODS AHEAD OF HOLIDAY.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The government Monday decided to release stockpiles of agricultural, fisheries and livestock products held by government agencies to help subdue rising commodity prices just weeks before the Sept. 21 Chuseok holiday....

TAIWAN-U.S. RELATIONS BECOMING CLOSER: GOVT REPORT.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - Since the Bush administration took office in January 2001, relations between Taiwan and the United States have become closer, according to a recent administrative report sent to the Legislature by the Executive Yuan....

FRAPORT AG KEY PARTNER TO BUILD, MANAGE BERLIN'S NEW AIRPORT.
September 2, 2002... (Full text of a statement. Contact details below.) FRANKFURT, August 30/News Aktuell-AsiaNet/ -- A key partner in the BBIP consortium, Fraport AG Frankfurt Airport Services Worldwide, will be providing its know-how for the new...

AUSTRALIA'S PBL SET FOR RETURN TO PROFITABILITY.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Kerry Packer's Publishing and Broadcasting Ltd (ASX:PBL) is expected to show solid results when it unveils its annual results this week. But the ongoing advertising slump is likely to have limited earnings. ...

PONY CANYON, MATSUSHITA TO SELL NEW ONLINE CHILDREN'S COURSE.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Pony Canyon Co. and Matsushita Electric Industrial Co. (TSE:6752) have jointly developed a new online course, which they claim will help improve children's brain functions, sources familiar with the matter said. ...

PASONA, TOSHIBA UNIT PLAN PLACEMENT SERVICE FOR ELEC STORES.
September 2, 2002... TOKYO, Sep 2 Asia Pulse - Major job placement agency Pasona Inc. (TSE:4332) and Toshiba Life Electronics Co., a sales subsidiary of Toshiba Corp. (TSE:6502) have established a joint venture, which will place workers at home electronics...

SKYMARK ASKS FTC TO INVESTIGATE MAJOR AIRLINES' FARE CUTS.
September 2, 2002... TOKYO, Sep 2 Asia Pulse - Skymark Airlines Co. (TSE:9204) asked the Fair Trade Commission (FTC) on Friday to begin an investigation into the fare reductions made by major airlines to see if the cuts violate Japan's Antimonopoly Act. ...

TOYOTA WORKERS TO GET COMMEMORATIVE BONUS IN SEPT.
September 2, 2002... NAGOYA, Sept 2 Asia Pulse - Toyota Motor Corp. (TSE:7203) plans to give all employees a special bonus of 50,000 (US$421.15) to 80,000 yen in September to commemorate the 40th anniversary of the signing of a labor-management pact. The bonus...

JAPAN'S GULLIVER INTL SEES PRETAX PROFIT STAYING FLAT IN H1.
September 2, 2002... TOKYO, Sep 2 Asia Pulse - Gulliver International Co. (7599) now expects to book about 2.1 billion yen (US$17.69 million) in group pretax profit for the six months ending Aug. 31, almost unchanged from the year-earlier level. The figure...

LOUIS VUITTON JAPAN TO OPEN ITS BIGGEST SHOP IN TOKYO.
September 2, 2002... TOKYO, Sep 2 Asia Pulse - Louis Vuitton Japan KK, the local unit of one of the most prestigious global fashion brands, will open the largest Louis Vuitton store in the world on Sunday in Tokyo's Omotesando district, where many stylish shops are...

JAPAN'S ENIX SET FOR 23 PCT LOWER FY02 NET PROFIT.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Enix Corp. (TSE:9684) announced Friday that it expects group net profit to fall 23 per cent to 3.3 billion yen (US$27.8 million) for the current year through March 2003, reversing its earlier forecast of a 12 per cent...

TELSTRA, OPTUS DISMISS REPORT OF OVERCHARGING.
September 2, 2002... MELBOURNE, Sept 2 Asia Pulse - Telstra (ASX:TLS) has dismissed a report accusing it and rival telco Optus of overcharging customers by more than $A2.3 billion ($US1.26 billion) a year. Telstra's director of communications and strategic...

AUSTRALIAN GOVT MEDICAL NEGLIGENCE REVIEW PANEL RELEASES REPORT.
September 2, 2002... CANBERRA, Sept 2 Asia Pulse - New plans to overhaul medical negligence laws will mean that doctors could only be sued within three years and people injured in risky sports could be blocked from suing for negligence. Assistant Treasurer...

PAKISTAN SEES RISE IN CAR PRODUCTION, SALES IN JULY.
September 2, 2002... KARACHI, Sept 2 Asia Pulse - The production and sales of locally assembled cars soared by 42 per cent and 21 per cent, respectively, during the first month of the current financial year over the corresponding month of the last fiscal. A...

CHINA-HK-TAIWAN EMERGE AS KOREA'S BIGGEST EXPORT MARKET.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The region comprising China, Hong Kong and Taiwan has emerged as South Korea's biggest export market, the Ministry of Commerce, Industry and Energy said Monday. The nation's exports to the region this year came to...

KOREA'S CORPORATE PERFORMANCE TO SLOW IN H2.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Major companies listed on both the main and over-the-counter KOSDAQ stock markets are expected to show a slower pace of growth in sales and operating profits during the second half, according to Daehan Investment...

JAPAN'S IWATSU PROJECTS US$6.7 MLN GROUP NET LOSS FOR SEPT QTR.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Iwatsu Electric Co. (TSE:6704) said Friday it is likely to post a consolidated net loss of 800 million yen (US$6.74 million) for the six months through September, compared with a 43 million yen profit a year earlier....

JAPAN'S YUSEN AIR SET TO DOUBLE GROUP PRETAX PROFIT.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Yusen Air & Sea Service Co. (TSE:9370) said Friday it expects consolidated pretax profit for the six months through September to more than double year on year to 2.5 billion yen (US$21.05 million), exceeding an...

JAPANESE MORNING NEWSPAPER HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... TOKYO, Sep 2 Asia Pulse - Highlights of the morning edition of the Nihon Keizai Shimbun (Nikkei) today: - Govt Mulls Completing Roads Privatized Highway Corp Will Not Build - Tanaka Wins Nagano Race, Seeks Dialogue With Opponents ...

SANSUI ELEC POSTS US$1.3 MLN NET LOSS ON WEAK AUDIO EQUIP SALES.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Hit by declining sales of its mainstay audio equipment, Sansui Electric Co. (TSE:6793) announced Friday a parent-only net loss of 155 million yen (US$1.3 million) in the fiscal half ended June 30, compared with a 761...

OMANI OIL PRODUCTION FALLS 5.6 PCT IN H1.
September 2, 2002... MUSCAT, Sept 2 Asia Pulse - Oman's oil production stood at 164,783.2 barrels during the first half of this year, against 174,620.9 barrels during the corresponding period in 2001, constituting a decline of 5.6 per cent, according to reports...

ICT TECH, EUROPHONE GROUP ANNOUNCE DEAL WITH GUANGDONG RICHVAST.
September 2, 2002... (Full text of a statement. Contact details below.) NEW YORK, N.Y., Aug. 30 /PRNewswire-FirstCall-AsiaNet/ -- ICT Technologies, Inc. (OTC Bulletin Board: ICTT) and Europhone Group of Companies have announced their entering into an agreement...

NSK OFFERS EARLY RETIREMENT, SEEKS 500 ENROLLEES.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - NSK Ltd. (TSE:6471) has begun offering an early retirement program in Japan. The company aims to enlist 500 employees from parent operations and consolidated subsidiaries by the deadline of September 6. This...

PAL INDONESIA COMPLETES HK ORDER FOR 2 CONTAINER VESSELS.
September 2, 2002... SURABAYA, East Java, Sept 2 Asia Pulse - State ship builder PT PAL Indonesia is currently completing a number of ships and other projects to meet local and foreign orders, including two 43,200-dwt container vessels for Hong Kong. "We are...

NIKKEI WEEKLY HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Major headlines from the Sept 2 issue of the Nikkei Weekly: FRONT - Pyongyang visit risky for Koizumi - TV shopping gaining favor with consumers - GDP rises, but outlook still grim - Troubled...

JAPAN OFFICIAL REACTS FAVORABLY TO U.S. TARIFF EXEMPTIONS.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Minister of Economy, Trade and Industry Takeo Hiranuma on Friday released a statement saying that based on the formal announcement of the list of exemptions from the U.S. emergency steel safeguard measures, Japan may...

JAPAN'S ALPS BEGINS INTERNET SALES OF ELECTRONIC PARTS IN US.
September 2, 2002... TOKYO, Sept 2 Asia Pulse - Alps Electric Co. (TSE:6770) has started marketing electronic parts over the Internet in the U.S. The company, which launched efforts Sept. 1, is selling 122 different products, chiefly general-purpose industrial...

STOCKS - KOREAN SHARES OPEN HIGHER - SEPT 2, 2002.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Korean stocks opened in bullish mood on Monday buoyed by a 20.4 per cent year-on-year jump in August exports and the start of KT Corp.'s stock buyback plan. The Korea Composite Stock Price Index (KOSPI) posted...

INDONESIAN NEWSPAPER HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... JAKARTA, Sept 2 Asia Pulse - Highlights of today's newspapers: THE JAKARTA POST: - The government is considering lowering luxury sales tax on cars to boost domestic car demand in attempts to encourage foreign investors to manufacture...

INDIAN OIL CORP ARRANGES US$200 MLN FOREIGN CURRENCY LOAN.
September 2, 2002... MUMBAI, Sept 2 Asia Pulse - Indian Oil Corporation (BSE:IOC) has asked the Bank of Baroda (BSE:BOB) to arrange a US$200 million foreign currency loan facility by way of external commercial borrowings on a fully underwritten basis for a two year...

PROFITS OF TAIWAN'S STATE-RUN FIRMS SET TO DECLINE NEXT FY.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - Annual profits from all state-run enterprises are expected to be NT$155.1 billion (US$4.56 billion) for the next fiscal year, about NT$13.4 billion (US$394 million) lower than the levels of 2002, the government said....

CHINA'S TSINGTAO BREWERY SIGNS AGREEMENT WITH TAIWAN FIRM.
September 2, 2002... TAIPEI, Sept 2 Asia Pulse - China's Tsingtao Brewery Co. (SEHK:0168) has signed an agreement with Taiwanese Sanyo Whisbih Ltd. to produce beer in Kaohsiung, southern Taiwan, according to a report carried in the Hong Kong daily Wen Hui Bao. ...

KOREAN GOVT CONSIDERS ADDITIONAL FUNDS FOR FLOOD RECOVERY.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The government will consider asking the National Assembly to allow the supplementary budget to be used for projects aimed at helping the nation recover from recent floods, an official from the Ministry of Finance and...

INDONESIA'S INDOSAT TO SELL 17.33 PCT STAKE IN INDOPRIMA.
September 2, 2002... JAKARTA, Sept 2 Asia Pulse - Indonesian telecommunications firm PT Indosat said it plans to sell its 17.33 per cent stake in East Java personal communications service operator PT Indoprima Mikroselindo (Primasel). An Indosat executive...

INDONESIAN PROVINCE SEES 43.29 PCT SURGE IN CACAO BEAN EXPORTS.
September 2, 2002... JAKARTA, Sept 2 Asia Pulse - Indonesia's South Sulawesi has seen an annual 43.29 per cent surge in cacao bean exports to 155,975 tons in the first seven months of this year. Zulhefi Sikumbang, a chairman of the Indonesian Cacao Association...

KOREA'S SSANGYONG SELLS 60.9 PCT MORE VEHICLES IN AUGUST.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Ssangyong Motor Co. said Monday its foreign and domestic sales in August reached 12,997, up 60.9 per cent from a year earlier. Last month, domestic sales rose 77.4 per cent from the same period last year to...

INDONESIAN PROVINCE INVITES FOREIGN INVESTMENT.
September 2, 2002... MATARAM, W Nusatenggara, Sept 2 Asia Pulse - West Nusatenggara (NTB) Governor Harun Al Rasyid has invited foreign countries to invest in the province, notably in the agricultural, animal husbandry and tourism sectors. Harun conveyed the...

CHINESE NEWSPAPER HIGHLIGHTS - SEPT 2, 2002.
September 2, 2002... BEIJING, Sept 2 Asia Pulse - Highlights of today's newspapers: PEOPLE'S DAILY - China's CPC members had topped 66.35 million by June 2002, up 5.93 million from that in 1997, according to statistics from the Organization Department of...

AUSTRALIA'S TRANSFIELD SET FOR FUTURE GROWTH.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - Transfield Services Ltd (ASX:TSE) is well placed to pursue organic growth through low risk, profitable contract opportunities and growing its current client relationships. The company said market conditions...

JAPAN'S NIKON INVESTS US$3 MLN IN SHANGHAI.
September 2, 2002... SHANGHAI, Sept 2 Asia Pulse - Nikon Corp. of Japan recently invested US$3 million to set up the Shanghai Nikon Precision Instrument Co., Ltd. in Shanghai, China's industrial center. It is the first investment in Shanghai by Nikon. The...

SHANGHAI AUTOMOTIVE GROUP REPORTS DOUBLE DIGIT SALES GROWTH.
September 2, 2002... SHANGHAI, Sept 2 Asia Pulse - Shanghai Automotive Group Co., the largest automobile manufacturer in China, reports a record year-on-year sales increase of 23.7 per cent for the first half of the year. The company sold 208,168 cars, all...

KOREA'S KUMHO GROUP APPOINTS NEW CHAIRMAN.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Park Sam-koo, 57, vice chairman of Kumho Group, assumed chairmanship of the group on Monday. The new chairman is the third son of group founder Park In-chun and the younger brother of the late chairman Park...

STOCKS - AUSTRALIAN SHARES HIGHER AT NOON - SEPT 2, 2002.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - The Australian stock market was slightly higher but in subdued trade at noon today with the major banks and News Corp giving the strongest lead to key indices. The local market is expected to remain in tentative...

SHENZHEN TO SELL STATE-OWNED SHARES TO FOREIGN INVESTORS.
September 2, 2002... SHENZHEN, Sept 2 Asia Pulse - Shenzhen city in south China's Guangdong province is initiating a trial policy of selling shares of its state-owned enterprises to foreign investors. The first batch of five companies are all engaged in such...

CHINA'S THREE GORGES PROJECT TO GENERATE POWER IN 2003.
September 2, 2002... YICHANG, Sept 2 Asia Pulse - China's Three Gorges Project will start generating power in August next year, according to the Yangtze River Three Gorges Project Development Corporation. The company announced on September 1 that the No. 2 and...

STOCKS - MALAYSIAN STOCKS DOWN IN EARLY TRADE - SEPT 2, 2002.
September 2, 2002... KUALA LUMPUR, Sept 2 Asia Pulse - The Malaysian sharemarket was slightly down by 0.24 per cent in early trade due to lack of leads. At 10:51 am, the Kuala Lumpur Stock Exchange Composite Index fell 1.74 points at 709.62. The broader...

INDONESIA'S TEXTILE, GARMENT EXPORTS DROP TO US, CANADA & EUROPE.
September 2, 2002... JAKARTA, Sept 2 Asia Pulse - Indonesia's textile and garment exports dropped in three of its main markets, the United States, Canada and the European Union, during the first half of this year, a report said today. Exports to the United...

FOREX - AUSTRALIAN DOLLAR WEAKER AT NOON - SEPT 2, 2002.
September 2, 2002... SYDNEY, Sept 2 Asia Pulse - The Australian dollar was weaker at noon, sliding back under $US0.5500 on thin trade and a lack of impetus. The Australian bond market was slightly stronger after a modest rally on the back of soft domestic...

FOREX - DOLLAR OPENS UP AGAINST KOREAN WON - SEPT 2, 2002.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - The U.S. dollar surged sharply against the Korean won in mid-morning trading. The greenback will move between 1,204 won and 1,210 won on expectations that more traders will adopt long positions in Seoul, dealers...

COCA-COLA TARGETS INVESTMENT IN WESTERN CHINA.
September 2, 2002... BEIJING, Sept 2 Asia Pulse - Coca-Cola China Beverages has announced to increase investment in western Chinese cities. Coca-Cola company, confident of the investment environment and potential in the west, would invest several hundred...

SHANGHAI PETROCHEMICAL BECOMES CHINA'S TOP ETHYLENE PRODUCER.
September 2, 2002... SHANGHAI, Sept 2 Asia Pulse - Shanghai Petrochemical Company has reported a record daily ethylene output of 2,700 tons, making it China's biggest producer and on par with other leading international producers. Shanghai Petrochemical said...

VOLVO KOREA TO PAY TOTAL EXCISE TAX FOR CUSTOMERS UNTIL END-SEPT.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - Volvo Cars Korea today said it is launching a special car sales event until the end of September, where it will pay total car excise tax instead of their customers in the period. This move followed the...

FIRST CHINA-MADE VLCC OIL TANKER DELIVERED TO IRANIAN OWNER.
September 2, 2002... DALIAN, Sept 2 Asia Pulse - The first 300,000-ton very large crude oil carrier (VLCC) made in China was delivered to its Iranian owner on August 31, making China the third country after Japan and the Republic of Korea to be capable of their...

KOREA'S KT TO CAMPAIGN FOR SUBS OF CITY, REGIONAL PHONE SERVICES.
September 2, 2002... SEOUL, Sept 2 Asia Pulse - KT Corp., South Korea's biggest telecom carrier, will launch a three-month campaign from September 10 to implement a new price system aimed at boosting use of its city and regional phone services, KT officials said...

CHINA TO DEBUT F-10 FIGHTER AIRCRAFT AT AIRSHOW IN NOVEMBER.
September 2, 2002... ZHUHAI, Sept 2 Asia Pulse - China will unveil its most advanced fighter aircraft, the F-10, at the fourth China International Aviation and Aerospace Exhibition (Airshow China 2002) to be held in Zhuhai from November 4 to 10. More than 100...