- IV.
International
. Security agencies in SE
Asia are hunting for more suspected Muslim terrorists after
the capture of 4 men accused of plotting to blow up foreign
embassies in Thailand.
. Pres. GMA of RP underscored need
to foster stronger ties with its Asian
neighbors and the rest of the world by immersing the country in a
“regional & global consciousness.”
. Asian Roundtable on Corporate Governance’s key recommendations
include: full convergence with international accounting. &
audit standards, better protection of minority investors, stronger
implementation of current laws & regulations, and improved
bank governance.
. China launched a 3rd navigation satellite (Beidon
Satellite) in a step that could aid in the development of advanced
military technologies, such as cruise missile systems.
. eBay is buying e-commerce company EachNet for $150 million. It is an online site for Chinese
shoppers. EBay hopes the
acquisition will increase its market share in China.
. Alcatel announced signing several contracts with China, amounting
to more than $30 million. The contract will expand and engender
the GSM/GPRS network of Zhejiang Mobile Communications Company
Ltd. (Zhejiang Mobile), a subsidiary of China Mobile. Alcatel will
deploy its Evolium industry-leading mobile network solution to
expand.
. Hongkong import managers, hoping to restore air traffic devastated
by SARS outbreak, offered a $12.8 million package of lower landing
fees and other incentives.
.
Hongkong people gamble a whopping HK$25 billion (US$3.2 billion) a
year, but most residents still can’t get enough, a Hongkong University survey shows. Average household bets HK$750 a
month on mahjong and HK$400 on offshore soccer betting.
. A top Beijing official said Hongkong
must outlaw subversion and other crimes against the state to be
truly a part of China, drawing fire from activists who charged the
central govt. wants to chip away at free speech.
. Japan’s 4 largest banks reported fiscal-year losses as the
plunging value of their stockholdings hammered earnings. All
4 forecast return to profitability this year.
. Japan’s central bank will pay debts owed by small- and medium-size
companies to ease a suffocating credit card. It is an unorthodox
move to lift the world’s second-largest economy from a dozen
years of stagnation.
. The Japanese Govt. approved a $16.6 billion plan to bail out the
country’s 5th largest bank.
. P.M. Koizumi’s cabinet approved a bill that would allow Japanese
troops to be sent to Iraq to assist in its reconstruction.
. Sky marshals will guard Singapore
Airlines flight as the Govt. said the city-state was a target for
militants because of its support for the US war on terror, the Straits
Times said.
.
Pantene, the world’s leading shampoo from Procter &
Gamble, was designated as “Asia’s favorite shampoo &
conditioner” at a Reader’s Digest Super Brand Award
2003 in Singapore.
.
Singapore’s jobless could easily rise to 5.5%later this year.
. Singapore & US signed a memorandum on cooperation in
environmental matters.
. US has committed $360 million in security-related aid to the Philippines,
most of which is destined for Mindanao.
. Japanese in the Philippines
fear for their safety, e.g., kidnappings and possible bomb
attacks, and potential investors are confounded by conflicting
policies and a growing budget deficit, according to the Japanese
ambassador there.
. Ford Motor Co. is adding another $150 million to expand its
assembly operations in the Philippines, premised on incentives
from the country.
.
The Monetary Board has approved a new set of guidelines
compelling banks to be more stringent in screening borrowers.
. Fears of worsening food shortages are growing as the military
tries to crush Free Aceh
Movement (Indonesia)
rebels in the oil- and gas-rich province.
. Workers fired from a Volvo dealership attacked their Swedish boss
(Michael Olsson) with spears during a dispute over severance pay
in Balikpapan, East Kalimantan on the island of Borneo.
. AIDS activists are selling condoms that smell like durian,
SE Asia’s popular but pungent fruit, to encourage safe sex.
.
The US State Dept. warned Americans against traveling to Indonesia
where terrorists linked to al-Quaeda may be plotting new
terror attacks targeting them.
. South Korea warned that a further escalation in nuclear tensions
by North Korea would
disrupt joint economic projects that could bring badly needed
investment to the North.
. North Korea’s food situation, shaky for the past decade, as the
Communist state battles famine and deepening intl. isolation,
appears to be worsening this year, according to a veteran relief
worker.
. Many North Korean
refugees who have settled in South
Korea say they never saw or heard of foreign food aid when
they lived in the North.
. Malaysian authorities have seized more than 2 million illegal
entertainment & software discs worth about 23 million ringgit ($6 million) in
a 4-week operation.
. Malaysia is committed to broker a political settlement between the
Phil. Govt. and separatist Moro
Islamic Liberation Front (MILF).
. Telekom Malaysia Bhd, which currently owns 93.29% of former rival Celcom
Bhd from 51.12% 3 weeks ago, is giving Celcom shareholders
another 2 weeks to accept its RM2.75 apiece buyout.
. Pakistan’s economy has bounced back from the effects of the war
in Afghanistan, Finance Minister Shaukat Aziz said.
. India accused Pakistan
of arming & training Islamic “terrorists” fighting its
rule in Indian Kashmir, a charge Islamabad
denies, saying it provides only moral & political support to
“freedom fighters.”
. Pakistan’s top court sent notices to several leaders of an Islamic
alliance locked in a bitter row with the Govt. to answer whether
their educational qualifications met election criteria.
. A new passport, with the word Taiwan printed under the national emblem of the Republic
of China, will be issued Sept. 1, Minister of Foreign Affairs Eugene
Chien said.
. At least 3k bogus credit cards, which, if used, could cause
issuing banks a loss of NT$3 billion, were seized in a container turned printing shop at a Taipei
County public junkyard.
. Medi Tek Corp. of Taiwan, the world’s largest designer of DVD
chips, has signed a worldwide licensing agreement with ESS
Technology Inc., a leading chip supplier based in CA.
. Central Bankruptcy Court of Thailand
named the Finance Ministry to pursue the $3.7 billion debt
restructuring of Thai
Petrochemical Industry.
. Small businesses are becoming increasingly aware of the benefits
of standard accreditation as a way to show their mgmt &
production processes are up to internationally accepted
benchmarks.
. Hero Honda has achieved
another milestone with its Daruhera
plant (Haryana) becoming the first Indian
2-wheeler plant to produce 5 million units.
. Rediff.com, a premier worldwide online provider of news,
information, communication, entertainment and shopping services
for Indians, has
announced the launch of “Rediffs
Blogs.”
. India’s industrial output was higher in April from a year earlier
as higher spending helped boost the mfg. sector, but analysts said
the pace in coming months would depend on annual monsoon.
. Increase of duty on import of sugar will affect the common people
and will be an added incentive for smuggling in Bangladesh.
. Pres. Matiur Rahman announced that tax exemptions for poultry,
fisheries & livestock will give impetus to the farm sector.
. The Chittagong Chamber of Commerce (CCCI) applauds the reduction
of duty on irrigation instruments, pumps, parts of LP gas
cylinder, incubator, kidney dialysis machine and pace maker.
