Vietnam Mekong RSS News Feed by Intellasia.Net

China wants diversified global monetary system: govt

Sat, 04 Jul 2009 07:11:00 PST

China said it wanted a broader global monetary system days before President Hu Jintao was set to leave for the G8 summit, during which the issue of a new reserve currency could be raised.

N Korea ups tension with short-range missiles

Sat, 04 Jul 2009 07:10:00 PST

North Korea test-fired four short-range missiles on Thursday, further stoking already high regional tension due to its nuclear test and threats to boost its nuclear arsenal in response to UN sanctions.

N Korea stability rests on abuses and propaganda, say critics

Sat, 04 Jul 2009 07:08:00 PST

North Korea's leaders have assured stability in the communist country by instilling a sense of paranoid nationalism and carrying out massive human rights abuses, experts say.

Food prices spiral in Cambodia

Sat, 04 Jul 2009 07:07:00 PST

New government figures show quarterly food inflation hit 1.7 percent in the three months to Tuesday compared with the previous quarter, during which Cambodia saw deflation of nearly 5 percent.

Millicom says several suitors eyeing Asian business

Sat, 04 Jul 2009 07:00:00 PST

Niche telecom operator Millicom said on Thursday the strategic review of its Asian business was going as planned and that several potential investors were eyeing the assets.

Japan may deploy troops near disputed islands

Sat, 04 Jul 2009 07:00:00 PST

Japan's defence ministry is considering deploying troops on an island in the East China Sea near a group of islets that is claimed by Tokyo, Beijing and Taipei, according to a ministry spokesman.

HK May retail sales fall further

Sat, 04 Jul 2009 07:00:00 PST

Thursday, the Hong Kong Census and Statistics Department said in a report that the retail sales value decreased 6.2 percent year-over-year in May, after falling 4.3 percent in April, revised from 4.4 percent decline reported initially. Economists were looking for a decline of 8.8 percent.

Philippines looks to banks to arrange $1b bond sale

Sat, 04 Jul 2009 07:00:00 PST

The Philippines asked banks to submit offers to help it sell as much as $1 billion of bonds, a government official said.

Korea to back $3.93b investment fund

Sat, 04 Jul 2009 07:00:00 PST

South Korea on Thursday said it would launch a Won5,000bn fund together with state-run banks and pension funds to revive corporate investment.

Thai competitiveness survey finds flaws

Sat, 04 Jul 2009 07:00:00 PST

Thailand's competitiveness ranking shows weaknesses in labour productivity and human resource development and also in health and the environment, says the Switzerland-based Institute for Management Development (IMD).

China electricity output increases 3.6pct in June, Securities says

Sat, 04 Jul 2009 07:00:00 PST

China's electricity output gained 3.6 percent in June, the first monthly increase since October, the China Securities Journal reported today, citing China State Grid Corp.

New condo supply plunges in Thailand

Sat, 04 Jul 2009 07:00:00 PST

New condominiums launched in the first quarter plummeted by 36 percent year-on-year due to the world financial crisis and domestic political turmoil, said the property brokerage Century 21 Thailand.

Chronology of N Korea's missile programme

Sat, 04 Jul 2009 07:00:00 PST

Developments in North Korea's missile programme:August 31, 1998: North Korea fires suspected missile over Japan and into the Pacific Ocean, calling it a satellite.

Singapore Resorts World cuts 2010 visitor forecast

Sat, 04 Jul 2009 07:00:00 PST

Singapore's Resorts World, which plans to open Southeast Asia's first Universal Studios theme park early next year, has slashed its 2010 visitor forecasts in the face of a global economic downturn.

Australia arrests 7 credit card scam spanning EU to Malaysia

Sat, 04 Jul 2009 07:00:00 PST

Australian authorities have uncovered a 6 million Australian dollar ($4.8 million) international credit card scam that used stolen personal information from people as far away as Britain and Spain, officials said Thursday.

Dorsett plans 10 more hotels in Malaysia

Sat, 04 Jul 2009 07:00:00 PST

Hospitality player Dorsett International Sdn Bhd aims to add 10 hotels to its existing chain of five hotels and resorts in Malaysia in five years, says president Eddie Tang.

US dollar to remain dominant, says Malay central bank chief

Sat, 04 Jul 2009 07:00:00 PST

The dollar will remain the dominant currency for the foreseeable future but that is not stopping other regions like Asia from developing their financial markets, said Malaysia central bank governor Tan Sri Dr Zeti Akhtar Aziz.

Thai arrest warrant for another red-shirt on lese majeste charge

Sat, 04 Jul 2009 07:00:00 PST

Police have an arrest warrant for another red-shirt on lese majeste charges recommended by Chana Songkhram police, Pol Maj-Gen Amnuay Nimmano, deputy metropolitan police chief, said on Thursday.

China carmaker drafting late Opel bid: source

Sat, 04 Jul 2009 07:00:00 PST

China's state-run carmaker Beijing Automotive Industry Holding Co (BAIC) is preparing to make an offer for general Motors' Opel unit in the coming days, a source told Reuters, but the Russian partner of bid frontrunner Magna (MGa.TO) said the race was all but over.

Malaysia says Asian nations badly hit by economic crisis

Sat, 04 Jul 2009 07:00:00 PST

Contrary to expectations that Asia would be relatively protected from the financial crisis because of its lower exposure to American securitised assets, in reality, Asian economies have been severely impacted.

China lets foreign banks access yuan for HK trade

Sat, 04 Jul 2009 07:00:00 PST

Foreign banks will be able to borrow yuan from mainland lenders to settle trade in Hong Kong and Macau under a pilot scheme steered by the central bank.

Singapore says no confirmed land sales in H2

Sat, 04 Jul 2009 07:00:00 PST

Singapore's government said on Thursday it will continue to suspend the sale of land on its "confirmed list" in the second half of 2009 due to economic uncertainties.

Philippines eyes P1.195tr in taxes in 2010

Sat, 04 Jul 2009 07:00:00 PST

The Philippines expects to collect P1.195 trillion in taxes next year or P113 billion higher than the programmed tax collection of P1.082 trillion this year.

Siam Cement clinches corporate title

Sat, 04 Jul 2009 07:00:00 PST

It's been a tough year for Siam Cement PCL, one of Southeast Asia's oldest and biggest industrial conglomerates. But that hasn't kept it from maintaining its status as one of Thailand's most-respected companies.

Joint statement on accountability in the run-up to the Indonesian presidential elections

Fri, 03 Jul 2009 10:22:05 PST

As Indonesia prepares for its second direct presidential election on July 8th, the East Timor and Indonesia Action Network (ETAN) and the Commission for the Disappeared and Victims of Violence (Kontras) together urge the Indonesian government, its citizens, and the international community to highlight past human rights violations and to push the next Indonesian administration to end impunity for human rights violators.

Indonesian stability not derailed by elections

Fri, 03 Jul 2009 08:59:46 PST

Harry Su, a leading economic researcher in Indonesia, writing for a major securities house about the upcoming presidential elections on July 8th said, "All three presidential candidates do not have sufficiently different economic policies to seriously derail Indonesia's stability, in our view".

Thailand's press club faces police probe over lese majeste

Fri, 03 Jul 2009 07:12:00 PST

For the first time in its five-decade history, the whole board of the Foreign Correspondents' Club of Thailand (FCCT) has been accused of committing lese majeste, a crime with a maximum jail sentence of 15 years.

Philippines fears revenue loss from Aean-Australia, NZ free trade

Fri, 03 Jul 2009 07:11:00 PST

The Philippines stands to lose tariff revenues collected on milk and dairy products that would not necessarily result in a decline in prices of these goods," Danilo V. Fausto, chair of the Dairy Confederation of the Philippines, said in a position paper.

Beijing to encourage foreign firms to list in China

Fri, 03 Jul 2009 07:08:00 PST

The Ministry of Commerce is working with other ministries to encourage foreign-funded firms to make public share offerings in China, a senior official said on Thursday.

Japan housewives may shun currency markets as new rules loom

Fri, 03 Jul 2009 07:07:00 PST

A plan to increase restrictions on Japan's margin-trading market may drive individual investors away, paving the way for more volatile currency movements, according to JPMorgan Chase & Co.

Malaysia's Anwar confident opposition will survive

Fri, 03 Jul 2009 07:06:00 PST

Malaysian opposition leader Anwar Ibrahim, who faces trial this month on sodomy charges, said his Pakatan Rakyat alliance would survive even if he is convicted and jailed.

Indonesia energy policy a key issue ahead of election

Fri, 03 Jul 2009 07:00:00 PST

Indonesia has huge hydrocarbon resources, but has become a net crude oil importer and also suffers from frequent powercuts, making energy policy a critical issue for voters ahead of the July 8 election, and for investors.

China recovery hopes gather pace

Fri, 03 Jul 2009 07:00:00 PST

China's manufacturing and business-activity indices both finished in positive territory in June, confirming that the world's third-largest economy is continuing to expand amid a mixed picture elsewhere in Asia.

N Korea likely to fire missiles: report

Fri, 03 Jul 2009 07:00:00 PST

North Korea has test-fired three short-range missiles, fuelling tension sparked by its nuclear standoff, as a US team held talks in China on ways to make UN sanctions bite against Pyongyang.

AMP sells Singapore assets

Fri, 03 Jul 2009 07:00:00 PST

ONE of Australia's largest institutional investors, AMP Capital Investors, has put its $S300million ($257m) portfolio of Singapore industrial properties on the market, according to industry sources.

E Timor opposition calls on PM to resign

Fri, 03 Jul 2009 07:00:00 PST

East Timor's opposition called on prime minister Xanana Gusmao to resign on Wednesday for alleged corruption in awarding a multi million-dollar contract to a company linked to his daughter.

Malaysia's CIMB may set up regional bad bank

Fri, 03 Jul 2009 07:00:00 PST

The CIMB Group expects to eventually set up a regional bad bank to look into non performing loans (NPL), and it will be a merger between its Malaysian and Thailand unit's bad bank, its group chief executive Datuk Seri Nazir Razak said today.

Singapore Q2 property prices drop 5.9pct

Fri, 03 Jul 2009 07:00:00 PST

Singapore real estate prices fell in the April-June period for a fourth straight quarter amid the city-state's worst ever recession.

Philippine finance ministry urges 'fiscal prudence' bill

Fri, 03 Jul 2009 07:00:00 PST

Faced with a rising budget deficit, the Finance department yesterday called on Congress to pass a measure that would temper the legislation of incentives and promote prudent government spending.

Japan's Shinsei, Aozora banks to merge to form country's sixth largest

Fri, 03 Jul 2009 07:00:00 PST

Japan's Shinsei Bank and Aozora Bank have agreed to merge to form the country's sixth largest bank, with assets of 18tn yen ($186bn; UK pound 113bn).

Korea's foreign reserves rose to $231.7b in June

Fri, 03 Jul 2009 07:00:00 PST

South Korea's foreign-exchange reserves rose for a fourth month in June, helped by investment gains and a weaker US currency that increased the value of holdings in British pounds.

Japan tax revenue falls short, may issue more bonds

Fri, 03 Jul 2009 07:00:00 PST

Japan looks increasingly likely to issue more bonds after saying on Wednesday that tax receipts for the past financial year fell short of target, leaving the nation's final balance in the red for the first time in seven years.

Korea's foreign reserves rose to $231.7b in June

Fri, 03 Jul 2009 07:00:00 PST

South Korea's foreign-exchange reserves rose for a fourth month in June, helped by investment gains and a weaker US currency that increased the value of holdings in British pounds.

Malay economists see further fall in exports

Fri, 03 Jul 2009 07:00:00 PST

Malaysia's exports continued to contract year-on-year in May as the bottoming-out process worked its way through the global economy.

China to request talks on reserve currency at G8, Reuters says

Fri, 03 Jul 2009 07:00:00 PST

China has asked to discuss a new global reserve currency at next week's Group of Eight summit in Italy, Reuters reported, citing people familiar with the matter.

'Malaysia needs to change to stay competitive'

Fri, 03 Jul 2009 07:00:00 PST

In A panel session yesterday, competitiveness was the buzz word when participants discussed Malaysia's vision, execution, and the consistency in public policy.

Taiwan president rejects Chen plea on daughter's travel ban

Fri, 03 Jul 2009 07:00:00 PST

Taiwan's President Ma Ying-jeou has turned down a plea by his detained predecessor to lift a travel ban on his daughter during his graft trial, an official said Wednesday.

Banks oppose Korea's bid to tighten control of derivatives

Fri, 03 Jul 2009 07:00:00 PST

Foreign banks in South Korea lashed out against a proposal to impose stricter controls on sales of derivatives, saying it would stifle financial innovation in Asia's fourth-largest economy.

Indonesia May trade surplus $1.41B; exports shrinkage acceleratesIndonesia May trade surplus $1.41B; exports shrinkage accelerates

Fri, 03 Jul 2009 07:00:00 PST

Indonesia's May trade surplus decreased to $1.41 billion from $2.08 billion in April as the decline in exports accelerated, the official Central Statistics Agency said Wednesday.

Indonesia June inflation slows, rate cut seen

Fri, 03 Jul 2009 07:00:00 PST

Indonesia's inflation fell in June to its slowest pace in nine years, reflecting lower fuel prices and an easing in food price increases, giving the central bank room to cut its key rate again this week by 25 basis points to a record low of 6.75 percent.