.
Some 62
million households signed up for broadband Internet in 2002, a
recent study said. Asia, in particular South Korea and Hongkong,
led the way with the most Internet subscribers per 100
inhabitants. The study was done by the International Telecom
Union.
.
Asian
stocks were
directionless last week, although South Korea’s Seoul
Composite slid 2.26%, while the Thailand Set gained
1.2%, and India’s BSE 30 1.13%.
.
Pres.
Hu Juntao is urging all depts. across the country to implement
anti-terrorism measures to guarantee national security and
public safety.
.
China Unicom has formed a strategic alliance with Sun
Microsystems Corp and Beijing ZRRT Communications
Technology to further promote wireless data applications and
services based on Java technology.
.
The
General Administration of Civil Aviation of China signed
a cooperative agreement with AVIC’s Commercial Aircraft Co.
for the manufacture of ARJ21-700 advanced regional jets.
.
A Chinese
court ordered Dow Jones to pay a Chinese calligrapher $50k for
using one of his Chinese characters as its corporate logo in China.
.
Hewlett-Packard will expand its business in China by
investing $200 million by 2007.
.
China might hurt its banking system and jeopardize the
country’s credit rating if it floats its currency, now pegged
against the US dollar, said S&P.
.
Taiwan
authorities announced last week that Taiwan airlines would be
allowed to operate
indirect cargo flights to and from the mainland starting this
month at the request of Taiwan business circles.
.
A
General Assembly Committee of the UN decided last week to reject
Taiwan’s representation in the UN failing for the 11th
consecutive time Taiwan’s attempt to join the world body.
.
IT experts hope China and Taiwan will establish software
standards between the two to promote compatible systems between
the two sides across the Straits.
.
Japan’s
foundations are threatened by deflation, bad loans, mounting
public debt, unprofitable companies and an aging society.
.
A cabinet reshuffle
brings new blood and hope of more reform but reports some in the
ruling party.
.
Two Japanese
banks, under regulatory pressure to reform money-losing
operations, announced a combined 3700 layoff.
.
Almost
26k jobs were lost in Singapore in Q2 due to SARS and
weak economic conditions.
.
Traffic police are
planning to allow driving tests to be conducted in cars with
automatic transmissions, a move likely to relegate manual
lessons to the backseat.
.
Work on 7 new 17-storey block at Riverdale Crescent in Sengkang
has come to a complete halt, the 5th Housing Board
delay this year.
.
The
UN offered to help the Philippine Govt. broker a final
peace agreement with the Moro Islamic Liberation Front,
including an all-grant trust fund to rehabilitate
conflict-stricken areas in Mindanao.
.
After
having complied with the European requirement for monitoring of
harmful chemical residues in aquaculture, RP is allowed
to export aquaculture products, including prawn, tilapia and
bangus.
.
French oil and gas firm Total (Phil) Corp is in talks with the
Dept. of Energy to put a liquefied natural
gas (LNG) facility in Bataan.
.
Prime
Minister Mahathir of Malaysia made a suggestion at the UN
General Assembly that for it to back its integrity and
credibility, change should start with the abolition of single
country veto in the Security Council.
.
Puncak Niaga Holdings Bhd has been awarded the contract to
operate the water supply system for Selangor and the Federal
Territory in the first privatization project of its kind in the
country.
.
Malaysia
National Insurance Bhd
intends to revive its plan to buy a share in a syndicate
operating in the London-based Lloyd’s insurance group as part
of a strategy to increase its profile in the international
market.
.
Despite mounting
criticism over poor leadership and aloofness from voters,
Megawati is still the odds-on-favorite win Indonesia’s
first direct presidential election next year.
.
South
Jakarta District Court rejected a lawsuit by Dewi Sukarno, wife
of the founding president, over ownership of valuable land in a
popular business district in South Jakarta.
.
Plans are underway to
extend the runway of the Cut Nyak Dhiese airfield in Muslebah,
Aceh Barat district to accommodate Fokker-28
aircraft, a local official said last week.
.
Indonesian
authorities clearly recognize they have a serious terrorism
problem and are doing their best to resolve it, said US State
Dept.
.
First
it was call centers and medical transcription, then entire
back-office operations were shifted to Asia. Now Wall Street
also joined the exodus, shifting financial research and analysis
to India.
.
Just as the world
refused to negotiate with the al-Quaeda or the Taliban, PM
stressed that India “will not negotiate with
terrorism” (Pakistan).
Pakistan admitted publicly in the UN that it is
sponsoring terrorism in Jammu and Kashmir. We
have no credibility when we are selective in implementing the
war against terrorists.
.
Describing the Cancun
meeting as a historic turn
in WTO, Commerce & Industry Minister said India will
not blame anyone for the collapse of the meeting, but continue
to engage in the future negotiations positively..
.
Bechtel and
GE began arbitration proceedings to recover as much as $1.2
billion for the Indian Govt. The companies say the funds
are investments they made in Enron’s power venture in the
country.
.
A
US citizen (Lewis Clark, 69) was indicted by a federal grand jury on
charges of traveling to Cambodia for sex with
children, under a new US law designed to curb international sex
trade.
.
Cambodia’s
ruling party was the only one at the opening of Parliament last
week, after opposition and royalist parties said they would
boycott the inaugural session in protest over July’s
elections.
.
Cambodian
authorities have reportedly released two students convicted and
jailed last month for their part in January’s anti-Thai riots
in Phnom Penh.
.
Power
outage in Bangladesh results in substantial economic loss
in the individual sector, amounting to $778 million a year.
.
Traders at Krishi Market, one of the largest
markets of agricultural commodities, claimed that the ban
on rickshaws halved the presence of customers at the market,
leading to a slump in their business.
.
The Foreign Ministry said that OIC needs new vision and dynamism
from new leadership in the challenging times for the Islamic
world.
.
Brunei
joined
Southeast telecoms and IT ministers in unveiling an action plan
to help protect their respective’ communication networks for
virus attacks.
.
Some
200 to 300 domestic help from Cambodia are expected
to be making their way to Brunei. The local companies are
venturing to
recruit these domestic helpers, locally known as “Amah.”
.
The Royal Brunei Armed Forces received their newest
military vehicles last week. The handing-over ceremony took
place at the Parade Square at the Bokiah Garrison in Berakas.
.
Thailand
raised its forecast for ’03 growth to as much as 6.2%, from
5.5% after a housing boom and export rise boosted Q2 growth.
.
Pakistan
has made
enormous strides in closing channels to fund terrorism, said US
Treas. Secretary Snow
.
