RIO TINTO DELIVERS RECORD Q1 IRON ORE OUTPUT
Melbourne (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO), the world's third largest miner, has posted record first quarter iron ore output as the company continues to expand its Pilbara operations, while coal production has suffered from severe flooding in Queensland.
Global iron ore production rose by 16 per cent during the three months to March 31 as the company continued to increase output from its Pilbara operations in Western Australia, through the ramp-up of the Yandi mine and Hope Downs operation.
Hard coking coal output fell 27 per cent to 1.04 million tonnes after heavy rainfall in Queensland flooded operations, while infrastructure limitations restricted the ability to make up the lost output.
JAPAN AIRLINES ENHANCES TIES WITH VIETNAM AIRLINES
Tokyo (ANTARA News/Asia Pulse) - Japan Airlines (JAL) is set to strengthen its ties with Vietnam Airlines as part of efforts to reinforce the Oneworld global airline network, which has no Southeast Asian member.
JAL and Vietnam Airlines currently operate joint flights between Japan and Vietnam under a code-sharing agreement.
It plans to provide know-how on customer services, booking systems, aircraft maintenance and flight operations.
By reinforcing the alliance, the Japanese firm will help Vietnam Airlines improve the quality of its services and technologies to levels in line with Oneworld standards and invite it to join the network.
LG ELECTRONICS Q1 NET PROFIT SOARS ON STRONG SALES
Seoul (ANTARA News/Asia Pulse) - LG Electronics Inc. (KSE: 066570), South Korea's No. 2 electronics manufacturer, reported Wednesday that its first-quarter earnings soared thanks to strong sales by its mobile handset and display sectors.
Net income reached 422.2 billion won (US$427 million) in the three months ended March 31, compared to a net loss of 122.6 billion won a year earlier, the company said in a regulatory filing.
Sales rose 14.8 per cent year-on-year to 11.2 trillion won, while the company reported an operating profit of 605.3 billion won, jumping more than twofold from a year earlier.
PHILIPPINE AIRLINES LAUNCHES LOW COST FARES UNIT FOR ISLAND HOPS
Manila (ANTARA News/Asia Pulse) - The nation's flag carrier, Philippine Airlines, has launched a new low-fares unit that will operate a fleet of turbo-propeller aircraft to mostly domestic island points under the brand name "PAL Express."
Jaime J. Bautista, PAL President, said PAL Express will meet the growing demand of the traveling public for a higher-quality carrier offering low fares.
"At the same time, it supports the Philippine government's efforts to promote trade and tourism, particularly to our many small islands, thus providing a much-needed lift to the local economy of these communities," Mr Bautista said.
KFH KEEN TO EXPAND INTO CHINA, SINGAPORE AND INDONESIA
Kuala Lumpur (ANTARA News/Asia Pulse) - Kuwait Finance House (KFH), a market leader in the Islamic banking industry, is considering expansion into China, Singapore and Indonesia through its Malaysian subsidiary, KFH Malaysia Bhd.
Malaysia is the closest to these markets and has formed strategic alliances in the three countries, said KFH chairman and managing director Bader Abdul Muhsen Al-Mukhaizeem.
"KFH is contemplating to enter new markets and is studying investment opportunities in many countries in Southeast Asia," he said in a statement here Tuesday in conjunction with the group's first-quarter results.
HYUNDAI MOTOR MUST BUILD PLANT AT HOME, SAYS UNION
Ulsan (ANTARA News/Asia Pulse) - The powerful labor union of Hyundai Motor Co. (KSE:005380) urged the company Wednesday to build a new plant at home to maintain job security for domestic workers, questioning the automaker's plan to expand overseas. Hyundai, South Korea's top automaker, has been aggressively building overseas factories as part of its bid to shield itself from labor strikes at home and currency fluctuations, analysts say.
Last week, Hyundai opened its second China plan on the outskirts of Beijing and its affiliate Kia Motors Corp. (KSE:000270) is building its first plant in the U.S.
ASAHI GLASS TO STOP MAKING CERIUM OXIDE IN TAIWAN
Tokyo (ANTARA News/Asia Pulse) - Asahi Glass Co. (TSE:5201) is halting production of cerium oxide in Taiwan and consolidating production to a plant in China to cut costs and boost earnings.
The plant in Taiwan is 80 per cent owned by Asahi Glass subsidiary AGC Seimi Chemical Co. and 20 per cent by Mitsubishi Corp. (TSE:8058).
Plans call for the facilities and equipment there to be sold off or discarded. Production will be shifted to a joint venture in China's Inner Mongolia Autonomous Region in which AGC Seimi has a 35 per cent interest, Mitsubishi has a 5 per cent stake and a local company holds the rest.
AUSTRALIA'S OXIANA DELIVERS RECORD COPPER OUTPUT
Melbourne (ANTARA News/Asia Pulse) - Oxiana Ltd (ASX:OXR) has delivered record copper production during the quarter and says all final approvals for its Martabe gold project in Indonesia are expected this month.
Copper output from the company's flagship Sepon mine in Laos rose 24 per cent to a record 17,132 tonnes during the three months to March 31, up on the previous corresponding quarter's output of 13,827 tonnes.
Gold production from Sepon was 24,235 ounces, down on the previous corresponding quarter of 33,647 ounces.
AMERICA ONLINE LAUNCHES PORTAL SITE IN TAIWAN
Taipei (ANTARA News/Asia Pulse) - AOL, a U.S.-based Web services provider formerly known as America Online, launched a Chinese-language portal site in Taiwan Monday, the company said in a news release.
The new site, the second in Asia after one in India, is part of the company's efforts to expand its global presence from the current 18 portals to an estimated 30 by the end of 2008, the statement said.
Prior to the launch of the site, AOL conducted a two-year assessment of the Taiwan market, said Norman Koo, vice president and general manager for Greater China of AOL.
AUSTRALIAN FUELWATCH SCHEME TO MAKE OIL COS MORE COMPETITIVE: NRMA
Sydney (ANTARA News/Asia Pulse) - The FuelWatch scheme will make oil companies more competitive and maintain lower average prices, NRMA chief executive Alan Evans says.
Under the scheme announced by Prime Minister Kevin Rudd yesterday, petrol stations will be forced to publish prices 24 hours in advance in an effort to provide greater choice for motorists.
"What it's done, it's actually made the oil companies more competitive because they actually have to say what price they can sell tomorrow and will it be competitive," Mr Evans said today.
Source:
Business in Asia Today - APRIL 16, 2008
published by Asia Pulse
COPYRIGHT © 2008
Melbourne (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO), the world's third largest miner, has posted record first quarter iron ore output as the company continues to expand its Pilbara operations, while coal production has suffered from severe flooding in Queensland.
Global iron ore production rose by 16 per cent during the three months to March 31 as the company continued to increase output from its Pilbara operations in Western Australia, through the ramp-up of the Yandi mine and Hope Downs operation.
Hard coking coal output fell 27 per cent to 1.04 million tonnes after heavy rainfall in Queensland flooded operations, while infrastructure limitations restricted the ability to make up the lost output.
JAPAN AIRLINES ENHANCES TIES WITH VIETNAM AIRLINES
Tokyo (ANTARA News/Asia Pulse) - Japan Airlines (JAL) is set to strengthen its ties with Vietnam Airlines as part of efforts to reinforce the Oneworld global airline network, which has no Southeast Asian member.
JAL and Vietnam Airlines currently operate joint flights between Japan and Vietnam under a code-sharing agreement.
It plans to provide know-how on customer services, booking systems, aircraft maintenance and flight operations.
By reinforcing the alliance, the Japanese firm will help Vietnam Airlines improve the quality of its services and technologies to levels in line with Oneworld standards and invite it to join the network.
LG ELECTRONICS Q1 NET PROFIT SOARS ON STRONG SALES
Seoul (ANTARA News/Asia Pulse) - LG Electronics Inc. (KSE: 066570), South Korea's No. 2 electronics manufacturer, reported Wednesday that its first-quarter earnings soared thanks to strong sales by its mobile handset and display sectors.
Net income reached 422.2 billion won (US$427 million) in the three months ended March 31, compared to a net loss of 122.6 billion won a year earlier, the company said in a regulatory filing.
Sales rose 14.8 per cent year-on-year to 11.2 trillion won, while the company reported an operating profit of 605.3 billion won, jumping more than twofold from a year earlier.
PHILIPPINE AIRLINES LAUNCHES LOW COST FARES UNIT FOR ISLAND HOPS
Manila (ANTARA News/Asia Pulse) - The nation's flag carrier, Philippine Airlines, has launched a new low-fares unit that will operate a fleet of turbo-propeller aircraft to mostly domestic island points under the brand name "PAL Express."
Jaime J. Bautista, PAL President, said PAL Express will meet the growing demand of the traveling public for a higher-quality carrier offering low fares.
"At the same time, it supports the Philippine government's efforts to promote trade and tourism, particularly to our many small islands, thus providing a much-needed lift to the local economy of these communities," Mr Bautista said.
KFH KEEN TO EXPAND INTO CHINA, SINGAPORE AND INDONESIA
Kuala Lumpur (ANTARA News/Asia Pulse) - Kuwait Finance House (KFH), a market leader in the Islamic banking industry, is considering expansion into China, Singapore and Indonesia through its Malaysian subsidiary, KFH Malaysia Bhd.
Malaysia is the closest to these markets and has formed strategic alliances in the three countries, said KFH chairman and managing director Bader Abdul Muhsen Al-Mukhaizeem.
"KFH is contemplating to enter new markets and is studying investment opportunities in many countries in Southeast Asia," he said in a statement here Tuesday in conjunction with the group's first-quarter results.
HYUNDAI MOTOR MUST BUILD PLANT AT HOME, SAYS UNION
Ulsan (ANTARA News/Asia Pulse) - The powerful labor union of Hyundai Motor Co. (KSE:005380) urged the company Wednesday to build a new plant at home to maintain job security for domestic workers, questioning the automaker's plan to expand overseas. Hyundai, South Korea's top automaker, has been aggressively building overseas factories as part of its bid to shield itself from labor strikes at home and currency fluctuations, analysts say.
Last week, Hyundai opened its second China plan on the outskirts of Beijing and its affiliate Kia Motors Corp. (KSE:000270) is building its first plant in the U.S.
ASAHI GLASS TO STOP MAKING CERIUM OXIDE IN TAIWAN
Tokyo (ANTARA News/Asia Pulse) - Asahi Glass Co. (TSE:5201) is halting production of cerium oxide in Taiwan and consolidating production to a plant in China to cut costs and boost earnings.
The plant in Taiwan is 80 per cent owned by Asahi Glass subsidiary AGC Seimi Chemical Co. and 20 per cent by Mitsubishi Corp. (TSE:8058).
Plans call for the facilities and equipment there to be sold off or discarded. Production will be shifted to a joint venture in China's Inner Mongolia Autonomous Region in which AGC Seimi has a 35 per cent interest, Mitsubishi has a 5 per cent stake and a local company holds the rest.
AUSTRALIA'S OXIANA DELIVERS RECORD COPPER OUTPUT
Melbourne (ANTARA News/Asia Pulse) - Oxiana Ltd (ASX:OXR) has delivered record copper production during the quarter and says all final approvals for its Martabe gold project in Indonesia are expected this month.
Copper output from the company's flagship Sepon mine in Laos rose 24 per cent to a record 17,132 tonnes during the three months to March 31, up on the previous corresponding quarter's output of 13,827 tonnes.
Gold production from Sepon was 24,235 ounces, down on the previous corresponding quarter of 33,647 ounces.
AMERICA ONLINE LAUNCHES PORTAL SITE IN TAIWAN
Taipei (ANTARA News/Asia Pulse) - AOL, a U.S.-based Web services provider formerly known as America Online, launched a Chinese-language portal site in Taiwan Monday, the company said in a news release.
The new site, the second in Asia after one in India, is part of the company's efforts to expand its global presence from the current 18 portals to an estimated 30 by the end of 2008, the statement said.
Prior to the launch of the site, AOL conducted a two-year assessment of the Taiwan market, said Norman Koo, vice president and general manager for Greater China of AOL.
AUSTRALIAN FUELWATCH SCHEME TO MAKE OIL COS MORE COMPETITIVE: NRMA
Sydney (ANTARA News/Asia Pulse) - The FuelWatch scheme will make oil companies more competitive and maintain lower average prices, NRMA chief executive Alan Evans says.
Under the scheme announced by Prime Minister Kevin Rudd yesterday, petrol stations will be forced to publish prices 24 hours in advance in an effort to provide greater choice for motorists.
"What it's done, it's actually made the oil companies more competitive because they actually have to say what price they can sell tomorrow and will it be competitive," Mr Evans said today.
Source:
Business in Asia Today - APRIL 16, 2008
published by Asia Pulse
COPYRIGHT © 2008
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