CHINA-TAIWAN TRADE INCREASING RAPIDLY
Beijing (ANTARA News/Asia Pulse) - Trade between China and Taiwan flourished in the first two months of this year, as a string of policies aimed at easing doing business between China and Taiwan were announced.
The General Administration of Customs said that the January-February trade volume totaled US$20.5 billion, up 23.8 per cent on the same period last year.
The total included US$3.6 billion in export value by China, up 12 per cent, and US$16.93 billion in import value, up 26.6 per cent.
Machinery and electronics made up 66.2 per cent, or US$13.58 billion of the total bilateral trade, up 20.9 per cent.
FIRST GEOTHERMAL EXPLORATION PERMIT ISSUED IN QUEENSLAND
Brisbane (ANTARA News/Asia Pulse) - The Queensland government has issued its first exploration permit for geothermal energy. Mines and Energy Minister Geoff Wilson announced that New South Wales company Granite Power Ltd has been granted a permit to carry out the preliminary work needed to begin using the emerging energy source.
Geothermal energy is produced by drilling down to hot fractured rocks to tap into superheated water, that is then used to create steam to drive turbines.
Two other companies are also in the final stages of having exploration permits granted, Mr Wilson said. There are nine sites across Queenslandearmarked for exploration.
SUMITOMO HEAVY TO BOLSTER GLOBAL CAPACITY IN REDUCTION GEARS
Tokyo (ANTARA News/Asia Pulse) - Sumitomo Heavy Industries Ltd. (TSE:6302) will invest more than 2 billion yen (US$19.18 million) to increase its global production capacity for industrial machinery reduction gears.
The money will be spent on expanding factories in Germany and the U.S. Sumitomo has the second-largest share of the global market for reduction gears used to control the speed of motors built into industrial machinery and factory lines.
Its goal is sales of 150 billion yen in fiscal 2010, up 50 per cent from 2006.
The German factory, in Munich, will receive additional equipment to meet growing demand in Europe and the U.S. factory, in Chicago, will get new state-of-the-art machine tools in order to respond faster to customer needs.
ASAHI BREWERIES TO SELL ORIGINAL-BRAND MILK IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Asahi Breweries Ltd. (TSE:2502) plans to start selling milk under its own brand in China to tap the growing milk consumption there. The brewer established a milk production joint venture with Itochu Corp. (TSE:8001) in April at a capitalization of 840 million yen (US$8.05 million).
The venture, 90 per cent owned by Asahi, is building a facility capable of producing more than 2,000 tons of milk a year in Shandong Province, China. Construction is expected to be completed by August.
The milk will be marketed as a high-value-added product that features strict management of the cows' health and sanitation. Its store price is expected to be as high as double that of ordinary milk in China.
NZ TELECOM'S EARNINGS TO FALL AS CUSTOMERS ABANDON FIXED LINES
Sydney (ANTARA News/Asia Pulse) - Telecom Corporation of New Zealand Ltd's earnings will continue to fall into next financial year while the company works on new mobile phone and broadband infrastructure, and as customers move away from fixed-line telephones.
Telecom earlier announced a 41 per cent decline in third quarter profit, which chief executive Paul Reynolds said was better than he had expected.
The company is expecting earnings before interest, tax, depreciation and amortisation (EBITDA) to fall by between seven and eight per cent for the year to June 30.
"The business is in transition," Dr Reynolds said in an interview.
"The combination of regulatory change and competition" has dragged on profit. "We've faced up to that," he said.
Telecom has increased spending on mobile phone and broadband internet infrastructure so it can offer faster and more profitable products to customers, as it battles heavy competition from Vodafone and Telstra Corp in New Zealand.
AUSTRALIAN GAS PIPE FIRM APA TO SPIN OFF ASSETS FOR ACQUISITIONS
Sydney (ANTARA News/Asia Pulse) - Gas pipeline firm APA Group (ASX:APA) will spin off some of its assets into an unlisted fund to raise capital for more acquisitions.
APA announced today that it expected to raise A$500 million (US$465.8 million) from the creation of a fund containing a "number" of its assets that have stable, annuity-style revenue streams.
APA, which is comprised of Australian Pipeline Trust and APT Investment Trust, has interests in almost 12,000 kms of natural gas pipeline infrastructure, processing plants and power stations.
It pushed up its gearing ratio above its long term target of 65 to 70 per cent last year to fund a series if acquisitions.
THAI FINANCE MINISTRY TO RENT MILLION RAI OF LAND TO FARMERS
Bangkok (ANTARA News/Asia Pulse) - In a bid to reassign state assets in both the national and international interest, by boosting Thailand's rice production and coping with the possibility of a global food crisis, the Ministry of Finance will lease about one million rai of state-owned lands which have been lying fallow.
The lands will be used by farmers to grow crops for food as well as agricultural commodities for refining into alternative fuels, Deputy Finance Minister Ranongrak Suwanchawee said on Thursday.
The Ministry's Treasury Department will charge a token fee of Bt20 (US$0.63) per rai annually and that the rental contract would initially mature in three years.
The Agriculture and Cooperatives Ministry will select suitable farmers entitled to rent the land, she said.
BLUESCOPE JOINS WORLD STEEL GIANTS TO SEEK A STAKE IN KRAKATAU
Jakarta (ANTARA News/Asia Pulse) - Australia's BlueScope Steel Ltd (ASX:BSL) has joined other world steel giants in seeking to grab a stake in Indonesia's steel maker PT Krakatau Steel.
BlueScope has sent an official letter to the industry ministry expressing interest in acquiring a stake in KS, which is to be privatized by the government.
India's Arcelor Mittal, the world's largest steel maker, has recently offered to acquire at least 30 per cent of KS or establishing a joint venture with KS to develop and modernize the country's steel industry.
Essar Steel Ltd (BSE:500627) also from India, South Korea's POSCO (KSE:005490) and China's Nanjing Steel (SSE:600282), had also expressed in interest in KS.
SOUTH KOREA WILL NOT ENFORCE HOUSE TEMPERATURE NORMS: OFFICIAL
Seoul (ANTARA News/Asia Pulse) - South Korea will not fine private homeowners for violating government-set heating and air-conditioning guidelines, apparently in reaction to a backlash against an earlier announcement.
The measures call for a three-stage approach to limit air-conditioning temperatures to 26 degrees Celsius in summertime, and not to allow room temperatures to exceed 20 degrees in winter.
Minister Lee Youn-ho said the goal of the measures is to get people to be more conscious of excessive consumption rather than punish violators.
The new measures will take effect next year for large public buildings and educational and amusement facilities, followed by large privately owned business buildings and offices in 2010.
The rules cover all residential buildings and private homes and shops in 2011.
INDIAN PHARMA DR REDDY ANNOUNCES ACQUISITIONS IN UK, USA
New Delhi (ANTARA News/Asia Pulse) - Dr Reddy's Laboratories Thursday said it has completed the acquisition of Dow Chemical's Dowpharma in two UK sites - Mirfield and Cambridge.
It also completed the acquisition of BASF's pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana, it said.
The acquisition of Dowpharma, includes the relevant businesses, customer contracts, associated products, process technology, intellectual property, and trademarks as well as the transfer of the Mirfield and Cambridge facilities.
The acquisition of BASFs pharmaceutical's contract manufacturing business and related facility includes the relevant business, customer contracts, trademarks as well as the manufacturing facility and assets at Shreveport.
Source:
Business in Asia Today - MAY 02, 2008
published by Asia Pulse
COPYRIGHT © 2008
Beijing (ANTARA News/Asia Pulse) - Trade between China and Taiwan flourished in the first two months of this year, as a string of policies aimed at easing doing business between China and Taiwan were announced.
The General Administration of Customs said that the January-February trade volume totaled US$20.5 billion, up 23.8 per cent on the same period last year.
The total included US$3.6 billion in export value by China, up 12 per cent, and US$16.93 billion in import value, up 26.6 per cent.
Machinery and electronics made up 66.2 per cent, or US$13.58 billion of the total bilateral trade, up 20.9 per cent.
FIRST GEOTHERMAL EXPLORATION PERMIT ISSUED IN QUEENSLAND
Brisbane (ANTARA News/Asia Pulse) - The Queensland government has issued its first exploration permit for geothermal energy. Mines and Energy Minister Geoff Wilson announced that New South Wales company Granite Power Ltd has been granted a permit to carry out the preliminary work needed to begin using the emerging energy source.
Geothermal energy is produced by drilling down to hot fractured rocks to tap into superheated water, that is then used to create steam to drive turbines.
Two other companies are also in the final stages of having exploration permits granted, Mr Wilson said. There are nine sites across Queenslandearmarked for exploration.
SUMITOMO HEAVY TO BOLSTER GLOBAL CAPACITY IN REDUCTION GEARS
Tokyo (ANTARA News/Asia Pulse) - Sumitomo Heavy Industries Ltd. (TSE:6302) will invest more than 2 billion yen (US$19.18 million) to increase its global production capacity for industrial machinery reduction gears.
The money will be spent on expanding factories in Germany and the U.S. Sumitomo has the second-largest share of the global market for reduction gears used to control the speed of motors built into industrial machinery and factory lines.
Its goal is sales of 150 billion yen in fiscal 2010, up 50 per cent from 2006.
The German factory, in Munich, will receive additional equipment to meet growing demand in Europe and the U.S. factory, in Chicago, will get new state-of-the-art machine tools in order to respond faster to customer needs.
ASAHI BREWERIES TO SELL ORIGINAL-BRAND MILK IN CHINA
Tokyo (ANTARA News/Asia Pulse) - Asahi Breweries Ltd. (TSE:2502) plans to start selling milk under its own brand in China to tap the growing milk consumption there. The brewer established a milk production joint venture with Itochu Corp. (TSE:8001) in April at a capitalization of 840 million yen (US$8.05 million).
The venture, 90 per cent owned by Asahi, is building a facility capable of producing more than 2,000 tons of milk a year in Shandong Province, China. Construction is expected to be completed by August.
The milk will be marketed as a high-value-added product that features strict management of the cows' health and sanitation. Its store price is expected to be as high as double that of ordinary milk in China.
NZ TELECOM'S EARNINGS TO FALL AS CUSTOMERS ABANDON FIXED LINES
Sydney (ANTARA News/Asia Pulse) - Telecom Corporation of New Zealand Ltd's earnings will continue to fall into next financial year while the company works on new mobile phone and broadband infrastructure, and as customers move away from fixed-line telephones.
Telecom earlier announced a 41 per cent decline in third quarter profit, which chief executive Paul Reynolds said was better than he had expected.
The company is expecting earnings before interest, tax, depreciation and amortisation (EBITDA) to fall by between seven and eight per cent for the year to June 30.
"The business is in transition," Dr Reynolds said in an interview.
"The combination of regulatory change and competition" has dragged on profit. "We've faced up to that," he said.
Telecom has increased spending on mobile phone and broadband internet infrastructure so it can offer faster and more profitable products to customers, as it battles heavy competition from Vodafone and Telstra Corp in New Zealand.
AUSTRALIAN GAS PIPE FIRM APA TO SPIN OFF ASSETS FOR ACQUISITIONS
Sydney (ANTARA News/Asia Pulse) - Gas pipeline firm APA Group (ASX:APA) will spin off some of its assets into an unlisted fund to raise capital for more acquisitions.
APA announced today that it expected to raise A$500 million (US$465.8 million) from the creation of a fund containing a "number" of its assets that have stable, annuity-style revenue streams.
APA, which is comprised of Australian Pipeline Trust and APT Investment Trust, has interests in almost 12,000 kms of natural gas pipeline infrastructure, processing plants and power stations.
It pushed up its gearing ratio above its long term target of 65 to 70 per cent last year to fund a series if acquisitions.
THAI FINANCE MINISTRY TO RENT MILLION RAI OF LAND TO FARMERS
Bangkok (ANTARA News/Asia Pulse) - In a bid to reassign state assets in both the national and international interest, by boosting Thailand's rice production and coping with the possibility of a global food crisis, the Ministry of Finance will lease about one million rai of state-owned lands which have been lying fallow.
The lands will be used by farmers to grow crops for food as well as agricultural commodities for refining into alternative fuels, Deputy Finance Minister Ranongrak Suwanchawee said on Thursday.
The Ministry's Treasury Department will charge a token fee of Bt20 (US$0.63) per rai annually and that the rental contract would initially mature in three years.
The Agriculture and Cooperatives Ministry will select suitable farmers entitled to rent the land, she said.
BLUESCOPE JOINS WORLD STEEL GIANTS TO SEEK A STAKE IN KRAKATAU
Jakarta (ANTARA News/Asia Pulse) - Australia's BlueScope Steel Ltd (ASX:BSL) has joined other world steel giants in seeking to grab a stake in Indonesia's steel maker PT Krakatau Steel.
BlueScope has sent an official letter to the industry ministry expressing interest in acquiring a stake in KS, which is to be privatized by the government.
India's Arcelor Mittal, the world's largest steel maker, has recently offered to acquire at least 30 per cent of KS or establishing a joint venture with KS to develop and modernize the country's steel industry.
Essar Steel Ltd (BSE:500627) also from India, South Korea's POSCO (KSE:005490) and China's Nanjing Steel (SSE:600282), had also expressed in interest in KS.
SOUTH KOREA WILL NOT ENFORCE HOUSE TEMPERATURE NORMS: OFFICIAL
Seoul (ANTARA News/Asia Pulse) - South Korea will not fine private homeowners for violating government-set heating and air-conditioning guidelines, apparently in reaction to a backlash against an earlier announcement.
The measures call for a three-stage approach to limit air-conditioning temperatures to 26 degrees Celsius in summertime, and not to allow room temperatures to exceed 20 degrees in winter.
Minister Lee Youn-ho said the goal of the measures is to get people to be more conscious of excessive consumption rather than punish violators.
The new measures will take effect next year for large public buildings and educational and amusement facilities, followed by large privately owned business buildings and offices in 2010.
The rules cover all residential buildings and private homes and shops in 2011.
INDIAN PHARMA DR REDDY ANNOUNCES ACQUISITIONS IN UK, USA
New Delhi (ANTARA News/Asia Pulse) - Dr Reddy's Laboratories Thursday said it has completed the acquisition of Dow Chemical's Dowpharma in two UK sites - Mirfield and Cambridge.
It also completed the acquisition of BASF's pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana, it said.
The acquisition of Dowpharma, includes the relevant businesses, customer contracts, associated products, process technology, intellectual property, and trademarks as well as the transfer of the Mirfield and Cambridge facilities.
The acquisition of BASFs pharmaceutical's contract manufacturing business and related facility includes the relevant business, customer contracts, trademarks as well as the manufacturing facility and assets at Shreveport.
Source:
Business in Asia Today - MAY 02, 2008
published by Asia Pulse
COPYRIGHT © 2008
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