.
Residents in Northeast city of
Harbin in China
have their water cut off for 4 days amid fears the river
that provides most of its supply may have been
contaminated by an explosion at a chemicals factory
plant.
. Buyers
of big cars will fork out more taxes and those who opt
for smaller models will pay less as revised consumption
tax is likely to come into force next year.
. The
number of unemployed Chinese in cities is about to hit
17 million next year, the peak year in the coming 5
years, said the vice minister of the National
Development & Reform Commission.
.
The growing Liberal Democratic Party released a
brief revision of
Japan’s
pacifist constitution that would recognize the country’s
armed forces as a fully functioning military since World
War II.
. Japan is considering a proposal to have
microchips implanted under pet reptiles’ skin. Since
apartments often prohibit cats & dogs, there have been
high-profile cases of pet snakes & iguanas wandering
loose in city streets.
. A national group of conservative politicians
and academics expressed opposition to a government
panel’s recommendation to allow women to ascend the
Chrysanthemum Throne.
.
The Gallup polls of Americans and
Europeans said most consider
Taiwan
to be a separate state and that its features rank more
favorably than China.
. Taipei’s
social welfare department is helping low-income families
to start their own businesses in an effort to eradicate
poverty in the city.
. The role
China plays in East Asia’s security was
highlighted at a forum, with experts at odds over
whether China was playing a constructive or
destabilizing role in the region.
.
The Ministry of Trade & Industry in
Singapore
raised its full-year economic growth forecast to 5%,
from a range of 3.5% to 4.5%, after a surge in drug
production led to higher-than-expected Q3 growth.
. The
outlook for stocks has dimmed after a big jump in local
interest rates in the past month, with analysts cutting
their targets for the Straits Times Index next
year.
. If you
were an engineer, you would understand why: Singapore
runs like clockwork.
.
South Korea
may lose its leadership position in the computer
gaming industry to the US in the near future if its
fails to lure Chinese gamers, an e-sport pioneer warned.
. More
than half of all citizens 60 years old & older in South
Korea are disinclined to live under the same roof with
their children after retirement and the majority of
Korean parents feel burdened by their children’s
education expenses.
. Recent
sharp gains in stocks will lay the foundation for
brokerage firms to strengthen their bottom line and
further expand their businesses into new fields.
. Korean Airlines and Asian Airlines,
South Korea’s 2 largest carriers, will cut fuel
surcharges for the first time since they were imposed in
April after jet fuel prices fell.
.
The Dept. of Agrarian Reform (DAR) in the
Philippines
said the Comprehensive Agrarian Reform Program’s
(CARP) share from the recovered Marcos’ ill-gotten
wealth (P37 billion) is used in the program.
. The
allocation for CARP out of the Marcos money is P9.728
billion for 2005, and P6.122 billion for 2006.
. P8.199
billion was used to acquire and distribute farm lands to
landless farmers in 2004, while P3.15 billion went to
support services, such as farm-to-market roads, bridges,
post-harvest facilities and farm inputs.
. Malaysia’s
Air Asia
said shareholders have backed its ambitious expansion
plans which will see the pioneering low-cost carrier
flying to more destinations in
China and possibly India.
.
A JP Morgan strategist expects Malaysia as a
market to stand out for its long-term prospects and
feels that investors will make very good money out of
Malaysian equities on a one-to-three year review.
.
JCorp is
looking at bio-diesel with a view of attracting industry
to Johor as it has strong advantages in terms of palm
oil and downstream oleo-chemical activities.
. Tenaga
says about RM400 million of the RM4.6 billion capital
expenditure will be spent to improve the security of
supply in central Peninsular Malaysia or areas like the
Klang Valley to ensure that its transmission is
more secure and more reliable.
.
Mae Hong Son in Thailand
is initiating a Solar Home System project to
provide solar-cell power to thousands of rural
households in a mountainous region that would have no
access to electricity.
.
To bring people closer to religion, the Culture
Ministry is considering providing “monk zones” for
department stores when shoppers can meet Buddhist monks.
.
Thailand’s economy cannot make sustainable improvement
without progress in educational, social and political
issues, said the president of the Stock Exchange of
Thailand.
. Indonesia
plans to buy Hercules planes from US as early as January
following resumption of full military ties with
Washington, said the Defense Minister.
.
Swiss-based drug manufacturer Roche will let
Indonesia produce the antiviral drug Tamiflu to
help fight cases of bird flu in humans, said the health
minister.
.
New scams used by pimps have been uncovered to sneak
women from Indonesia’s
Batam Island
into Singapore to work as prostitutes, a news report
said last week.
. Vietnam,
the world’s 2nd largest coffee producer, will plant
20,000ha of cocoa in the next 5 years under a plan to
diversify cash crops, a senior industry official said.
. New Zealand
would actively support Vietnam’s entry into the World
Trade Organization and work to foster friendly
relations between the 2 countries, said New Zealand’s
Governor-General in Hanoi.
. The
National Assemby deputies have called the government
investment in agriculture and the rural economy to be
increased to more than 30%.
. India
and Turkey
signed an MOU which will examine the possibility of oil
& gas exploration and production initiative between the
two countries.
.
India readies 6 draft agreements in the oil & natural
gas sector to be signed with Japan possibly by next
January, a top official of the Ministry of Petroleum
& Natural Gas said.
.
State-owned Coal India Ltd. (CIL) is
contemplating setting up operations in Australia,
Indonesia, South Africa, Mozambique & Zimbabwe as part
of its efforts to meet the needs of good quality coking
coal, the government told the Lower House of
Parliament.
.
UN Secretary
General Kofi Annan urged private donors & governments to
give more aid to
Pakistan
which has received $300 million to date, but needs $5.2
billion. Where are the oil rich Arab & Muslim countries?
.
The Economic Coordination Committee (ECC) is
likely to abolish 5% customs duty and 15% general
sales tax (GST) on the import of Liquefied
Petroleum Gas (LPG) to increase the availability of
the LPG, and ensure its sufficient supply in the
quake-hit areas.
.
Pakistan has approached China Chemical Engineering
Group Corp (CNCEC) for execution of 600MW Thar coal
power in case Shen Hua Group backs out from the
project, official sources told Business Recorder.
.
Pres.
Majinda Rajapakse
of Sri
Lanka said
constitutional reforms will be introduced to make the
president answerable to parliament. The powers by
Ministerial & Working Committees will be increased
to ensure participation of Government & Opposition
MPs in state administration.
.
The Ministry of Finance & Policy Planning
released Rs. 100 million to provide relief to people
affected by the flood in 7 districts, from Colombo to
Tricomalee.
.
The Minister of Enterprise Development & Investment
Promotion led a 30-member delegation from the public
and private sectors to the 21st
India Economic
Summit 2005 in
New Delhi.
