AsiaPulse News back issues from July 2005:
FOREX - AUSTRALIAN DOLLAR BEGINS SOFTER - JULY 1, 2005.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The Australian dollar opened weaker today, being little affected by a widely expected US interest rate rise and indications that the US Federal Reserve would keep hiking. At 0700 AEST the currency was trading at $US0.7622/27, compared with yesterday's ...
AUSTRALIAN NEWSPAPER HIGHLIGHTS - JULY 1, 2005.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The main stories in today's newspapers: THE AUSTRALIAN: - Departing Telstra chief executive Ziggy Switowski says the telecommunications giant is facing tough times. The heavens are emptying like the spleen of a former Labor leader. Labor ...
NEW SUPERANNUATION RULES PLACE ONUS ON AUSTRALIAN WORKERS.
Jul 01, 2005 ... CANBERRA, July 1 Asia Pulse - From today, employees are responsible for checking that their employer makes the correct superannuation payments, the Superannuation Trust of Australia (STA) says. It is important that employees check what is being done, STA chief executive Mark ...
NSW, W. AUSTRALIA TO BE FORCED TO DELIVER GST-LINKED TAX CUTS.
Jul 01, 2005 ... CANBERRA, July 1 Asia Pulse - The federal government will announce measures to force two states to honour their agreement to cut taxes which were supposed to be replaced by the GST, Treasurer Peter Costello says. The treasurer has been pushing all states and territories to ...
S. KOREAN CONSUMER PRICES UNEXPECTEDLY SLIP IN JUNE.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - South Korean consumer prices rose in June, led by a fall in prices of agricultural goods, and a decline in housing rents, a government report showed Friday. The consumer price index (CPI) fell to 117.3 last month from 117.7 in May, according to the ...
FOREX - DOLLAR SHARPLY LOWER AGAINST RUPEE- JUNE 30, 2005.
Jul 01, 2005 ... MUMBAI, June 30 Asia Pulse - The US Dollar ended sharply cheaper against the Rupee at Rs 43.52 per dollar and the Pound Sterling tumbled to Rs 78.02 per pound at ...
STOCKS - BSE CLOSES HIGHER - JUNE 30, 2005.
Jul 01, 2005 ... MUMBAI, June 30 Asia Pulse - Shrugging off the slowdown in GDP growth, the Sensex today surged further by a whopping 73.97 points to climb at a new closing high of 7193.85 on the Bombay Stock Exchange driven up by sustained heavy buying by FIIs and short-covering by local funds. ...
NORTH KOREA ACCUSES U.S. OF 170 SPY FLIGHTS IN JUNE.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - North Korea said Thursday that the United States continued to conduct spy flights over the country this past month, upping its criticism of the U.S. for doing so while the two Koreas were making reconciliatory moves. The U.S. conducted some 170 ...
NORTH KOREA'S TRADE WITH JAPAN CONTINUES TO RECEDE: REPORT.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - North Korea's trade with Japan further dropped off in 2005 after years of waning due to heightened political conflict, a trade agency in Seoul said, quoting a report from Tokyo. According to the state-run Japan Customs agency that filed the nation's ...
S. KOREAN TEAM DEVELOPS 'MAGIC' TECHNOLOGY FOR NEW MEDICINES.
Jul 01, 2005 ... DAEJEON, July 1 Asia Pulse - A South Korean research team said Friday it has succeeded in jointly developing a new fundamental technology used for producing medications to fight diseases like cancer. The research team and the startup firm CGK co-developed "a magnetic technology ...
SOUTH KOREAN NEWSPAPER HIGHLIGHTS - JULY 1, 2005.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - The following are the top headlines in major Korean newspapers on July 1. VERNACULAR DAILIES - Controversy brews over rejection of bill on nationality of Koreans born abroad (Kyunghyang Shinmun) - Dismissal of Defense Minister ...
DUAL-CORE AMD OPTERON PROCESSOR POWERS ACER ALTOS SERVER.
Jul 01, 2005 ... (Full text of a statement. Contact details below) MILANO, Italy--(BUSINESS WIRE)--June 30, 2005--AMD (NYSE:AMD) today announced the introduction of the Acer Altos G5350, the first Dual-Core AMD Opteron(TM) processor-based pedestal server from an original equipment manufacturer ...
BANK OF AMERICA TO ACQUIRE MBNA.
Jul 01, 2005 ... (Full text of a statement. Contact details below) NEW YORK, June 30 /PRNewswire-AsiaNet/ - Bank of America Corporation today announced a definitive agreement to acquire MBNA Corporation. The acquisition combines the country's largest domestic bank with a leading provider of ...
HOTELS SILKEN PRESENTS HOTEL PUERTA AMRICA.
Jul 01, 2005 ... (Full text of a statement. Contact details below) MADRID, June 30 /PRNewsFoto-AsiaNet/ - CAPTION: PRNewswire Photos, London, June 30. MADRID, Spain - Hoteles Silken ...
INDONESIA'S DHARMALA INTILAND AIMS TO RESTRUCTURE DEBT THIS YR.
Jul 01, 2005 ... JAKARTA, July 1 Asia Pulse - Property company PT Dharmala Intiland (JSE:DILD) said it hopes to finish restructuring its entire debt of Rp1.49 trillion (US$156.8 million) before the end of this year. Company President Hendro S Gondokusumo said he expects to secure the approval of ...
INDONESIA'S ADIRA ALLOCATES US$1 BLN FOR CONSUMER FINANCE OPS.
Jul 01, 2005 ... JAKARTA, July 1 Asia Pulse - PT Adira Dinamika Multi Finance aims to spend Rp10 trillion (US$1.05 billion) on its consumer finance business this year, up from Rp6.6 trillion last year. Adira President Stanley Setia Atmadja said the entire fund will be provided by Bank Danamon, ...
GLOBAL MOBILE PHONE SHIPMENTS RISE 7.1 PCT IN Q2: US REPORT.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - Worldwide shipments of mobile phones rose 7.1 per cent from a year ago in the second quarter after suffering a typical seasonal slowdown in the first quarter, a U.S.-based research firm said Friday. Second-quarter shipments totaled 180.5 million units, ...
PLN ASKS PERTAMINA FOR GUARANTEED OIL FUEL SUPPLY.
Jul 01, 2005 ... JAKARTA, July 1 Asia Pulse - State-owned electricity company PLN has asked state-owned oil company Pertamina to guarantee the supply of oil fuels to forestall a possible power crisis in the next three months. A number of hydropower plants may fail to operate during the dry ...
INDONESIAN INDUSTRY MINISTER WANTS RATTAN EXPORT BAN TO STAY.
Jul 01, 2005 ... JAKARTA, July 1 Asia Pulse - Industry Minister Andung Nitimihardja said he has asked Trade Minister Mari Elka Pangestu to maintain a ban on exports of raw and semi-finished rattan. Andung said the supply of raw rattan is still not enough to feed local industries, especially the ...
JAPAN SHAREHOLDERS VOCAL ABOUT TAKEOVER DEFENSES, EXEC PAY.
Jul 01, 2005 ... TOKYO, July 1 Asia Pulse - This year's general shareholders meetings have proven to be a challenge for Japanese companies as many met dissenting votes by shareholders over such issues as anti-takeover measures, executive compensation and director nominations. Shareholders ...
INDIA'S CANARA BANK EYES OPS IN N. AMERICA, MID-EAST, S AFRICA.
Jul 01, 2005 ... BANGALORE, July 1 Asia Pulse - Canara Bank (BSE:532483), celebrating centenary year, is eyeing operations in South Africa, North America and the Middle-East as part of its overseas expansion plans, its chairman and managing director M B N Rao said Thursday. Rao told reporters ...
TAIWAN'S FINANCIAL SUPERVISORY COMM TO SET UP OFFICE IN NEW YORK.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - The Executive Yuan has approved the establishment of a representative office of the Cabinet-level Financial Supervisory Commission (FSC) in New York, FSC officials said Thursday. FSC representative Weng Wen-chi and his deputy, Tseng Mei-shin, are ...
TAIWAN SIGNS ANTI-MONEY LAUNDERING PACT WITH PARAGUAY.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - Officials of Taiwan and Paraguay signed an agreement Thursday to jointly combat money laundering and information-exchange by terrorists, at an annual plenary meeting of the Egmont Group held in Washington, according to officials of the Investigation Bureau under ...
ASIA IS ON AN ACCELERATED PATH TO 3G: CDMA DEVELOPMENT GROUP.
Jul 01, 2005 ... (Full text of a statement. Contact details below.) BEIJING, June 29, 2005 (PRIMEZONE) -- At a press briefing in Beijing yesterday, the CDMA Development Group (CDG) (www.cdg.org) reported that the success of CDMA2000(r) operators in Asia is a proof point for the opportunities ...
TAIWAN-RUSSIA TIES CAN BE IMPROVED: ASSOC HEAD.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - There is room for improvement in Taiwan-Russia relations, although bilateral trade between the two countries has been rapidly increasing in recent years, the Taiwan-Russia Association president said Thursday. Chang Chun-hsiung, who doubles as chairman ...
TAIWAN'S DPP CHAIRMAN TO DEPART FOR 9-DAY U.S. VISIT.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - Ruling Democratic Progressive Party (DPP) Chairman Su Tseng-chang will depart Taipei Friday for a nine-day visit to the United States aimed at promoting bilateral exchanges, DPP sources said Thursday. Su's first stop will be San Francisco, where he ...
PHILIPS TO INTEGRATE ITS LARGEST CHIP IN BANGALORE.
Jul 01, 2005 ... BANGALORE, July 1 Asia Pulse - The Bangalore design centre of the Euro 30.3 billion (US$36.7 billion) Royal Philips Electronics would work on the next generation consumer platform chip design and integrate the whole chip -- the biggest ever designed by the Netherlands-headquartered ...
ECONOMIC TALKS CAN BRIDGE CROSS-STRAIT GULF: TAIWAN PRESIDENT.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - President Chen Shui-bian said Thursday that governments on both sides of the Taiwan Strait could consult more with each other over economic matters, a move that would increase mutual trust and create conditions for political reconciliation. "Insisting ...
WIPRO'S HIGH-PROFILE TOP EXECUTIVE VIVEK PAUL QUITS.
Jul 01, 2005 ... BANGALORE, July 1 Asia Pulse - Vivek Paul, widely acknowledged to be a leading force in building Wipro Technologies from a USD 150 million software business to a US$1.4 billion entity as CEO, has quit and joined Texas Pacific Group as a partner in the venture funds,specialising in ...
TAIWAN PRESIDENT URGES PEOPLE TO CONSERVE ELECTRICITY.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - President Chen Shui-bian Thursday called on the people to "switch off and save," saying that if each citizen saves one unit of electricity a day, Taiwan could save NT$21 billion (US$670 million) in electricity spending every year. Facing public ...
EXPERT INVITED TO ENDORSE SAFETY OF U.S. BEEF IN TAIWAN.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - The U.S. Meat Export Federation invited an expert to endorse the safety of U.S. beef in the wake of local misgivings about its consumption after a recent confirmation of a second case of bovine spongiform encephalopathy (BSE), or mad cow disease, in the United ...
INDIA'S ECONOMIC GROWTH IS AT 6.9 PCT FOR 2004-05.
Jul 01, 2005 ... NEW DELHi, July 1 Asia Pulse - Powered by a 9.2 per cent growth in the manufacturing sector, India's economic growth stood at 6.9 per cent for 2004-05 fiscal compared to 8.5 per cent during the previous financial year. According to estimates released by the Central Statistical ...
CHINA UNLIKELY TO INVADE TAIWAN IN NEAR TERM: CHINA EXPERT.
Jul 01, 2005 ... WASHINGTON, July 1 Asia Pulse - Former U.S. Ambassador to China James Lilley expressed his disapproval Wednesday of a Washington Times report that Beijing might take military action against Taiwan in two years. Lilley, who is now director of Asian Studies at the American ...
TAIPEI CLOSELY WATCHING GUATEMALA-CHINA EXCHANGES.
Jul 01, 2005 ... TAIPEI, July 1 Asia Pulse - Taipei will closely watch trade exchanges between Guatemala and China, although Guatemala's president and foreign minister promised that Taiwan-Guatemala diplomatic ties will remain unchanged, Ministry of Foreign Affairs spokesman Michel Lu said Thursday. ...
INDIA'S TATA CONSULTANCY TO FLOAT JV WITH MICROSOFT IN CHINA.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Tata Consultancy Services (NSI:TCS) will float a second IT services and solutions company in China, this time in a joint venture with Microsoft and three Chinese entities. The joint venture company will serve the global market and also be a model ...
STOCKS - KOSDAQ BEGINS WEAKER - JULY 1, 2005.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - The KOSDAQ opened at ...
FOREX - US DOLLAR BEGINS STRONGER VS WON - JULY 1, 2005.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - The US dollar opened ...
STOCKS - AUSTRALIAN SHARES START SOFTER - JULY 1, 2005.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The Australian sharemarket opened weaker on the first day of the financial year as a drop in commodities prices drove down mining stocks. At 1015 AEST the benchmark S&P/ASX200 was 23.5 points lower at 4254 while the all ordinaries dropped 21.9 points ...
INDIA'S EICHER EYES US$100 MLN FROM ENGINEERING OUTSOURCING.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Eicher Motors Ltd (BSE:505200) has forayed into engineering services outsourcing with the acquisition of US-based company Design Intent Engineering (DIE) and said it expected the new business to contribute US$100 million in the next four years. ...
STOCKS - JAPANESE SHARES START LOWER - JULY 1, 2005.
Jul 01, 2005 ... TOKYO, July 1 Asia Pulse - Japanese share prices began the month weaker, with the ...
PUNJAB NATIONAL BANK OPENS REPRESENTATIVE OFFICE IN DUBAI.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Punjab National Bank (NSI:PNB), which is aiming to become a global player, has opened a representative office in Dubai to facilitate trade finance and remittance business between India and the United Arab Emirates. Inaugurating the office Thursday, ...
AUSTRALIA'S WEBJET POSTS RECORD MONTHLY TRANSACTIONS IN JUNE.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - Online travel agent Webjet(ASX:WEB) has reached a monthly record with its transaction values for June. Webjet today announced gross transaction values for June of .3 million ($US7.09 million), a 400 per cent increase on June, 2004's total of $2.3 ...
S. KOREA TO UNVEIL 2ND-HALF ECONOMIC PLAN NEXT WEEK.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - The South Korean government plans to announce a blueprint next week that will outline its handling of the faltering economy during the second half, officials said Friday. The envisioned economic management plan comes amid growing concerns that the ...
INDIA ALLOWS FDI, REVENUE SHARE FOR PVT FM RADIO; NO TO NEWS.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Launching a major expansion programme for private FM radio services, the government Thursday allowed 20 per cent Foreign Direct Investment in the sector and decided on a revenue share regime against the existing licence fee structure to allow a total of 330 ...
DABUR INDIA TO SELL STAKE IN FRENCH CHEESE JV.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - In a strategic decision, Dabur India Ltd (BSE:600096) has decided to sell its entire stake in its French cheese-making joint venture, Dabon International Pvt. and transfer 79.96 per cent stake Dabur Nepal Pvt Ltd and 100 per cent stake in Dabur Overseas Ltd ...
AMD JAPAN FILES CLAIM FOR DAMAGES AGAINST INTEL K.K. IN TOKYO.
Jul 01, 2005 ... (Full text of a statement. Contact details below.) TOKYO--(BUSINESS WIRE)--June 30, 2005-- AMD Japan Seeks to Restore Fair and Open Competition for the Japan PC and Server Marketplace AMD Japan (Shinjuku-ku, Tokyo, David M. Uze, President and ...
INTTRA RELEASES INTTRA DESKTOP VERSION 1.4.
Jul 01, 2005 ... (Full text of a statement. Contact details below.) PARSIPPANY, N.J.--(BUSINESS WIRE)--June 30, 2005--Today, INTTRA releases INTTRA Desktop version 1.4 the user-friendly, intuitive, offline solution for the creation and submission of electronic booking and shipping instructions ...
LG ELECTRONICS SELECTS RED BEND FOTA SOLUTION.
Jul 01, 2005 ... (Full text of a statement. Contact details below.) FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 29, 2005-- Red Bend's vCurrent(R) Mobile to be embedded on LG's most advanced mobile devices to deliver firmware updates, ensure customer satisfaction Red Bend ...
LNG FROM QATAR AUSTRALIA TO RESTART INDIA'S DABHOL PROJECT.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Qatar and Australia are likely to supply fuel for restarting the US$2.946 billion Dabhol Power Project in Maharasthra from fourth quarter of 2006. State-owned gas utility GAIL (India) Ltd is negotiating sourcing of at least one million tonnes per ...
STOCKS - SEOUL SHARES OPEN WEAKER - JULY 1, 2005.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - South Korean stocks opened weaker Friday as investor sentiment was dented by an overnight fall in the U.S. stock market. The benchmark Korea Composite Stock Price Index (KOSPI) was down 4.16 points, or 0.41 per cent, to 1,004.00 in the first 15 minutes ...
S&P GIVES THE CITY OF MELBOURNE ITS HIGHEST RATING.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - Standard & Poor's Ratings Services has affirmed its AAA/A1-plus ratings on the City of Melbourne, the highest ratings assigned by the agency. S&P said the outlook is stable. "Melbourne's rating is underpinned by an exceptionally strong ...
OIL PRICES TIPPED TO EASE BY YEAR-END.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - Motorists despairing at rising petrol prices can take heart in forecasters tipping a pull back in the oil price by the end of the year. But don't put the bicycle away just yet. The cost of oil is set to get worse before it gets better. Oil ...
3 SINGAPORE BANKS TO BE PERMITTED 26% STAKE IN INDIAN INSURANCE.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Three Singaporean banks, which will set up wholly-owned subsidiaries in India, will be allowed 26 per cent stake in life and non-life insurance sector under the Comprehensive Economic Cooperation Agreement signed between the two countries. India ...
MINING EXPORT BOOM BOOSTING AUSTRALIAN ECONOMY: TREASURER.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The Chinese-driven boom in Australian mining exports has, to quote from federal treasurer Peter Costello, helped the economy thrash the pants off other western nations. Surging prices for iron ore and coking coal have helped Mr Costello deliver his ...
AUSTRALIA'S MANUFACTURING INDUSTRY IMPROVES IN JUNE.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The performance of Australia's manufacturing industry improved in June but there was continued weakness in the sector. The Australian Industry Group-PricewaterhouseCoopers (PWC) Australian Performance of Manufacturing Index (PMI) increased by 4.7 ...
S. KOREA'S TRADE SURPLUS REACHES US$2.7 BLN IN JUNE.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - South Korea's trade surplus rose to a preliminary US$2.7 billion in June, up from $2 billion in the previous month, the Ministry of Commerce, Industry and Energy said Friday. Customs-cleared exports grew 10.4 per cent year-on-year to .91 billion last ...
S. KOREA'S POSCO TO SET UP ANOTHER SERVICE CENTER IN JAPAN.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - POSCO (KSE:005490), South Korea's largest steelmaker, said Friday it will set up a new service center in Japan for automotive steel and stainless steel sheets. The center, named "POS-NPC," will be constructed in Toyohashi, central Japan, by February ...
SK CORP FINDS OIL RESERVE OF 50 MLN BARRELS OFF BRAZIL.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - SK Corp., South Korea's largest refiner, said Friday it has found a reserve of oil amounting to more than 50 million barrels at an oil field off Brazil. The company found the oil reserve in the oil field, which is ...
HUGE INVESTMENT CAPITAL AWAITING AUSTRALIAN IPOS.
Jul 01, 2005 ... SYDNEY, July 1 Asia Pulse - The initial public offer (IPO) market can take heart from the huge pool of investment capital waiting to be tapped in 2005/06. Superannuation funds now receive around A$15 billion (US$11.4 billion) every quarter, creating a vast sum of cash that needs ...
UAE'S ETISALAT PAYS FIRST INSTALMENT FOR PAKISTAN TELECOM.
Jul 01, 2005 ... ISLAMABAD, July 1 Asia Pulse - Etisalat, a United Arab Emirates-based company, which placed the highest bid of US$2.598 billion for a 26 per cent share of Pakistan Telecommunication Company Limited (PTCL) on June 18, has deposited with the government of Pakistan 10 per cent ($259.8 ...
CHINESE ASSET MANAGEMENT COS DISPOSE OF NON-PERFORMING ASSETS.
Jul 01, 2005 ... BEIJING, July 1 Asia Pulse - China's four financial asset management companies have disposed an accumulated 700.8 billion yuan (US$84.6 billion) worth of non-performing assets (excluding policy-type debt-to-share) by the end of May 2005, accounting for 53.1 per cent of the total. ...
AFGHANISTAN'S RECONSTRUCTION GOING FULL STEAM AHEAD.
Jul 01, 2005 ... KABUL, July 1 Asia Pulse - The Ministry of Rural Rehabilitation and Development (MRRD) will complete thousands of small reconstruction projects across the country under the National Solidarity Programme. Minister for Rural Rehabilitation and Development Mohammad Hanif Atmar told ...
PAKISTANI MINISTER DUE IN KABUL SUNDAY TO DISCUSS REFUGEE ISSUE.
Jul 01, 2005 ... KABUL, July 1 Asia Pulse - Pakistan Minister for State and Frontier Regions Sardar Yar Mohammad Rind will arrive in Kabul Sunday for talks with Afghan authorities on refugees' issues. Addressing a press conference here Thursday, spokesman for the United Nations High Commissioner ...
EARNINGS OF LIFE INSURERS IN S. KOREA SURGE IN 2004.
Jul 01, 2005 ... SEOUL, July 1 Asia Pulse - Life insurance companies in South Korea saw their earnings soar nearly 33 per cent in fiscal 2004 on the back of strong investment profits, the nation's financial regulator said Friday. According to the Financial Supervisory Service, the 23 domestic ...
INDIA-SINGAPORE AGREEMENT WON'T LEAD TO SWITCH TRADE: NATH.
Jul 01, 2005 ... NEW DELHI, July 1 Asia Pulse - Terming the Comprehensive Economic Cooperation Agreement (CECA) with Singapore as a "win-win" pact, Commerce Minister Kamal Nath Thursday allayed the Indian industry's fears that the country would be hit by switch trading, particularly flooding of Chinese ...