.
India & China
are expanding their navies as they become increasingly
dependent on oil workers from the Middle East, posing the
beginnings of an eventual challenge to American influence in
the Indian Ocean and the South China Sea.
.
Saudi Aramco, the world’s largest producer of crude
oil, is seeking to strengthen relations with energy
companies in India & China as part of a strategy to
increase Saudi oil exports there.
.
The French Foreign Minister
argued that selling weapons technologies to China
would neutralize Beijing’s push to develop its own
capabilities, which was part of the reason France offered
lifting EU arms embargo on China.
.
Continental
and American Airlines won a hotly contested battle to
offer direct flights to China, from Newark and
Chicago respectively.
.
China is waging an aggressive campaign of seduction in the
Caribbean, wooing countries away from relationships with
rival Taiwan, opening markets for its expanding economy,
promising to send tourists, and shipping police to Haiti in
the first Communist deployment in the Western Hemisphere.
.
China has emphasized gaining the weaponry and expertise
necessary to apply military pressure against Taiwan, if that
becomes necessary.
.
It has sought to extend the might and reach of its naval &
air forces to oblige the US at least to think twice about
intervening in this area.
.
Japanese help in helping the sea lanes north of Taiwan would
be of great value to the US military if the US Navy were
ordered into the South China Sea.
.
Japan’s economy shrank 0.1% in the Oct-Dec quarter of
economic contraction—technically a recession.
.
The planned merger of Japan’s MTFG & UFJ to create
the world’s biggest bank could be delayed by up to a year if
MTFG does not offer UFJ a sufficiently attractive merger
ratio, according to previously undisclosed terms.
.
Japan plans to hire 2,000 engineers in China over the next 3
years to bolster development of products for the Chinese
market.
.
The Bank of Korea
holds about $200 billion in foreign currency, the 4th
largest hoard of reserves.
.
South Korea
has asked for military talks with North Korea, the
first rapprochement since last month’s announcement that the
North had manufactured nuclear weapons.
.
US ambassador to South Korea (Christopher Hill) is now head
of the American delegation to the 6-party negotiations.
.
North Korea has developed a new type of scud missile with
improved precision and longer range, said Chosun Ilbo.
The Scud-ER had a range of 1000-km, putting Tokyo in
reach.
.
US & Japan will collaborate
for the first time on Taiwan as a security concern.
Japan is now willing to confront the growing might of China.
.
In recent years, China has dramatically modernized its
military while expanding its influence in Asia or the
strength of its booming economy.
.
A resolution was introduced in the US House of
Representatives calling for the Bush administration to scrap
its “One China” policy and resume full, formal diplomatic
relations with Taiwan.
.
China denounced a CIA report saying its arms build-up is
tilting the balance of power in the Taiwan Straits and said
the comments sent the wrong signal to Taiwan.
.
Singapore’s
economy expanded by an unexpectedly strong 8.4% in 2004 from
a year earlier due to exports of pharmaceuticals,
electronics, and increased private consumption.
.
It was Asia’s best economic performance after China last
year, with the growth in GNP the strongest in 4 years.
.
The government warned that Singapore was set to revive its
recent gagged growth pattern as the economy is expected to
slow to 3%-5% this year, making it one of the worst
performers in SE Asia.
.
Singapore sees a surplus of
$97.6 million this fiscal year ending March 31. It reversed
an expected deficit a year earlier than expected.
.
Singapore offered new incentives to retain its status as a
leading Asian business center, including cutting its top
personal income tax rate to 20% by 2007 to attract skilled
foreigners and multinational companies.
.
Six foreign gaming organizations, including Las Vegas
heavyweights Wynn Resorts, MGM-Mirage and Harrah’s have now
declared their interest in establishing a casino resort in
Singapore.
.
Thailand
is the world’s 2nd
largest producer of trucks. Abolishing the tariff would pave
the way for foreign manufacturers to expand their share of
the US market.
.
US motor industry fears the biggest winners would be
Japanese & South Korean vehicle manufacturers whose plants
make up the bulk of Thailand’s truck output.
.
Islamic leaders and
politicians attacked a threat by Thailand’s PM Thaksin
Shinawatra to withhold development aid for southern Muslims
for the bomb explosion in Sungai Kolok, bordering
Malaysia.
.
Of 1,580 villages in Thailand’s 3 Muslim-majority southern
provinces, 358 were dubbed “red zones,” areas where the army
once struggled to secure local cooperation with martial law.
.
Pres. GMA
called on Municipal Board members all over the country to be
partners in eradicating poverty & terrorism in her 10-point
pro-poor agenda and the UN Millennium Development Plan.
.
Moody’s Investor Services has lowered the
Philippines’ foreign currency rating for government
bonds from B1 to B2. Bonds rated B are generally considered
unattractive investment papers, with poor interest and
principal payment prospects.
.
Two Japanese dailies claim RP embassy in Tokyo profits
immensely from fees it allegedly exacts from Japanese
securities of Filipino artists & entertainers and from each
Filipino who gets deployed to Japan.
.
Filipinos are the happiest
among Asians and are among the happiest people in the world
despite the many problems they face every day, said World
Values Survey. The least happy are Eastern Europeans.
.
Aceh
separatists announced they are ready to accept increased
autonomy rather than independence from Indonesia, a
big boost to peace talks.
.
An inter-ministerial work
group is now investigating the existence of military
businesses.
.
The Navy is planning to produce ships annually. It will
produce 4 ships in 2005, costing R15 billion, and 5 ships
annually in subsequent years.
.
As many as 400 illegal
immigrants in Malaysia are still believed to be in
the country and some 500,000 personnel from several
government agencies will be deployed to ferret them out.
.
Rela and Rukun Tetenggu personnel could earn
as much as RM80 for every illegal immigrant nabbed.
.
F&N Coca Cola Sdn Bhd with a 40% share in the
country’s softdrink market will continue to emphasize an
aggressive promotion, better packaging and good value
products to maintain its strong market share.
.
The tsunami that swept
India’s eastern coast on 12/26 has uncovered a 7th
century city near Mahabali-puram, with carvings of
lions & elephants that became visible after sand deposits
were washed away.
.
India’s economy is booming;
its economy is robust, and Indian professionals rake the
fattest pay hikes in Asia at 13.7% pay increase in 2004, and
expected to continue in 2005 at 14.2%. IT sector took home
the fattest raises with average salary increase at 14.9%.
.
One may think this is reason to rejoice, but the country’s
IT outsourcing is worried that such hikes in pay may
actually have an adverse effect on the country’s
money-spinning outsourcing sector where foreign companies
flock to for precisely the opposite reason--low overheads.
.
What is worrying for the sector which enjoys the top
position globally due to its cheap but highly skilled labor
force, is that the higher pay rise against the backdrop of
appreciating rupee versus the dollar.
.
EDS will close 17 of its 42 call centers and 4 of its 12 in
Europe by the end of 2006, and shift work to India to cut
costs.
.
Hundreds of overseas
Pakistanis and foreigners emailed questions to Pres.
Musharraf during his media interaction last week, praising
Pakistan as a moderate and progressive country.
.
Pakistan and Spain have expressed a desire to increase
bilateral cooperation particularly in the field of defense.
.
Pres. Musharraf does not want any arms race in South Asia,
and wants more concentration on economic development to
reduce poverty and uplifting the living standards of its
people.
.
Pakistan has hinted it will raise the Baglihar project
controversy in the OIC and call for Middle-East observers,
and after April it will be taken before world forums in case
India does not respond.
