BRISBANE HAS MOST EXPENSIVE RETAIL RENT IN AUSTRALIA: SURVEY
Sydney (ANTARA News/Asia Pulse) - Brisbane's central business central now has the most expensive retail rent in Australia and ranks third in the Asia Pacific behind Hong Kong and Tokyo, a survey finds.
Retail rent at Brisbane's Queen Street Mall came in at No.14 worldwide, with an average rent of $US509.99 ($A534.47) per square foot (psf) on a list compiled by Colliers International.
Hong Kong's retail rent was $US775,00 psf, while Tokyo was $US677.61.
"To see Brisbane jump ahead is testament to the effect a strong local economy and booming office market can have on a retail market," Colliers national director for retail Nathan Clarke said in a statement.
VIETNAM ELECTRONICS INDUSTRY HOPES TO EARN US$6 BLN BY 2010
Hanoi (ANTARA News/Asia Pulse) - Prime Minister Nguyen Tan Dung has endorsed the master plan for the development of the electronics industry, targeting revenues of US$4-6 billion by 2010, with US$3-5 billion of that from exports.
The industry, which projects an annual growth rate of 20-30 per cent beginning in 2010, will create 300,000 jobs nationwide, according to the Vietnam Electronics Industry Association (VEIA).
In a bid to reach these targets, Vietnam will begin turning out more lucrative electronic items, including both finished products and components and spare parts used in informatics, telecommunications, medical and industrial equipment, measurement and automation.
BUMI RESOURCE REPORTS 15% RISE IN Q1 SALES TO US$663.59 MLN
Jakarta (ANTARA News/Asia Pulse) - Indonesia's largest coal producer PT Bumi Resources (JSX:BUMI) reported a 14.82 per cent increase in sales value despite a 13.5 per cent decline in sales volume in the first quarter of this year.
Bumi sold 12.5 million tons of coal worth US$663.59 million in the first three months of this year as against 14.5 million tons valued at US$577.91 million in the same period last year.
The increase in the earning was a result of a surge in the price of that commodity, its Senior Vice President for Investor Relations Dileep Srivastava said.
Its net profit also shot up 89 per cent to US$151.9 million from US$80.4 million.
JAPAN'S JFE ENGINEERING BRINGS GARBAGE INCINERATOR OPS TO EUROPE
Tokyo (ANTARA News/Asia Pulse) - Japan's JFE Engineering Corp. has begun efforts to expand its garbage incinerator business to Europe in order to compensate for shrinking sales at home.
As a first step, the JFE Holdings Inc. (TSE:5411) group member firm will license its gasification technology for shaft furnaces to Italian waste processor Sorain Cecchini, which plans to build three incinerators in Rome capable of each handling 300 tons of garbage a day.
JFE Engineering is now finalizing details on the supply of basic designs and equipment for these incinerators.
By expanding its operations overseas, the company hopes to boost sales in its environment business beyond 100 billion yen (US$949 million) a year.
S KOREA'S SHIP EXPORTS JUMP OVER 20 PCT THIS YEAR
Seoul (ANTARA News/Asia Pulse) - South Korea's exports of ships jumped over 20 per cent during the first four months of this year on increased global demand, a government report showed Monday.
South Korean shipbuilders exported a combined US$10.3 billion worth of ships during the January-April period, up 22.8 per cent from a year earlier, according to the report compiled by the Korea Customs Service.
The amount accounts for 7.5 per cent of the nation's total exports of US$137.2 billion during the cited period.
TATA STEEL TO RAISE PLANT CAPACITY TO 10 MT BY 2010
Jamshedpur (ANTARA News/Asia Pulse) - Tata Steel (BSE: 500470) on Saturday said that it would raise the production capacity its Jamshedpur plant to 10 million tons per annum from 6.8 million tons at present.
Tata Steel Managing Director, B Muthuraman said here that with the opening of blast furnace `H' on Saturday, the existing
capacity of the company would increase to 10 million tons by the middle of 2010.
Muthuraman said that construction work at the company's proposed plant at Orissa would begin soon, while the other at Chattisgarh was showing signs of good progress.
BANK INDONESIA AGREES ON BANK NIAGA, BANK LIPPO MERGER
Jakarta (ANTARA News/Asia Pulse) - Bank Indonesia (the central bank/BI) has issued an in-principle permit to Bank Niaga (JSX:BNGA) and Bank Lippo (JSX:LPBN) to merge their businesses.
"They have applied for a permit. In principle, we have no objection to the planned merger," Director of the Banking Research and Regulation Directorate at Bank Indonesia Halim Alamsyah said on Friday.
Given the BI's approval, the merger of the two banks whose shares are owned by Malaysia's Khazanah Nasional Berhad can be realized soon, he said.
HYUNDAI MOTOR'S MAY SALES UP 8.5% ON ROBUST FOREIGN DEMAND
Seoul (ANTARA News/Asia Pulse) - Hyundai Motor Co. (KSE:005380), South Korea's largest carmaker, said on Monday its sales rose 8.5 per cent in May from a year earlier, thanks to robust foreign demand, particularly in emerging markets.
But, the near-term outlook for Hyundai Motor, the world's sixth-largest automaker with its affiliate Kia Motors Corp. (KSE:000270), remains uncertain as the company is facing a double threat from surging raw-material costs and a global economic slowdown.
AUSTRALIA'S AMCOR TO SELL PERTH PACKAGING PLANT FOR US$33 MLN
Melbourne (ANTARA News/Asia Pulse) - Australian packaging giant Amcor Ltd (ASX:AMC) will sell its Perth-based flexible packaging plant to an industry peer for A$35 million (US$33.3 million).
The sale of the plant to Integrated Packaging follows Amcor's announcement in April that it will sell two of its European packaging plants as part of a restructure there.
"Amcor's strategy in flexible packaging is to focus on the higher value-add segments of the food and healthcare markets," Amcor chief executive Ken MacKenzie said.
"This plant was not aligned to the remainder of the flexibles business as it was the only Amcor site that produced industrial stretch wrap film."
BANGLADESH'S RTV JOINS TV SOUTHASIA
Dhaka (ANTARA News/Asia Pulse) - TV Southasia, a collaborative venture between AAJ TV (Business Recorder Group) of Pakistan, Broadcast Worldwide of India, Image Channels of Nepal, Maharaja Group (MTV Private Ltd) of Sri Lanka, was recently joined by RTV Pvt Ltd. from Bangladesh as a media partner.
RTV will be contributing content to the channel and would be representing Bangladesh in this regional partnership, said a press release. TV Southasia is a media voice that reflects the spirit, heritage and culture through the form of content contributed by all the partnering channels.
This is the only joint venture between private entities in the media space in South Asia with largest representation from all the five countries.
Source:
Business in Asia Today - JUNE 02, 2008
published by Asia Pulse
COPYRIGHT © 2008
Sydney (ANTARA News/Asia Pulse) - Brisbane's central business central now has the most expensive retail rent in Australia and ranks third in the Asia Pacific behind Hong Kong and Tokyo, a survey finds.
Retail rent at Brisbane's Queen Street Mall came in at No.14 worldwide, with an average rent of $US509.99 ($A534.47) per square foot (psf) on a list compiled by Colliers International.
Hong Kong's retail rent was $US775,00 psf, while Tokyo was $US677.61.
"To see Brisbane jump ahead is testament to the effect a strong local economy and booming office market can have on a retail market," Colliers national director for retail Nathan Clarke said in a statement.
VIETNAM ELECTRONICS INDUSTRY HOPES TO EARN US$6 BLN BY 2010
Hanoi (ANTARA News/Asia Pulse) - Prime Minister Nguyen Tan Dung has endorsed the master plan for the development of the electronics industry, targeting revenues of US$4-6 billion by 2010, with US$3-5 billion of that from exports.
The industry, which projects an annual growth rate of 20-30 per cent beginning in 2010, will create 300,000 jobs nationwide, according to the Vietnam Electronics Industry Association (VEIA).
In a bid to reach these targets, Vietnam will begin turning out more lucrative electronic items, including both finished products and components and spare parts used in informatics, telecommunications, medical and industrial equipment, measurement and automation.
BUMI RESOURCE REPORTS 15% RISE IN Q1 SALES TO US$663.59 MLN
Jakarta (ANTARA News/Asia Pulse) - Indonesia's largest coal producer PT Bumi Resources (JSX:BUMI) reported a 14.82 per cent increase in sales value despite a 13.5 per cent decline in sales volume in the first quarter of this year.
Bumi sold 12.5 million tons of coal worth US$663.59 million in the first three months of this year as against 14.5 million tons valued at US$577.91 million in the same period last year.
The increase in the earning was a result of a surge in the price of that commodity, its Senior Vice President for Investor Relations Dileep Srivastava said.
Its net profit also shot up 89 per cent to US$151.9 million from US$80.4 million.
JAPAN'S JFE ENGINEERING BRINGS GARBAGE INCINERATOR OPS TO EUROPE
Tokyo (ANTARA News/Asia Pulse) - Japan's JFE Engineering Corp. has begun efforts to expand its garbage incinerator business to Europe in order to compensate for shrinking sales at home.
As a first step, the JFE Holdings Inc. (TSE:5411) group member firm will license its gasification technology for shaft furnaces to Italian waste processor Sorain Cecchini, which plans to build three incinerators in Rome capable of each handling 300 tons of garbage a day.
JFE Engineering is now finalizing details on the supply of basic designs and equipment for these incinerators.
By expanding its operations overseas, the company hopes to boost sales in its environment business beyond 100 billion yen (US$949 million) a year.
S KOREA'S SHIP EXPORTS JUMP OVER 20 PCT THIS YEAR
Seoul (ANTARA News/Asia Pulse) - South Korea's exports of ships jumped over 20 per cent during the first four months of this year on increased global demand, a government report showed Monday.
South Korean shipbuilders exported a combined US$10.3 billion worth of ships during the January-April period, up 22.8 per cent from a year earlier, according to the report compiled by the Korea Customs Service.
The amount accounts for 7.5 per cent of the nation's total exports of US$137.2 billion during the cited period.
TATA STEEL TO RAISE PLANT CAPACITY TO 10 MT BY 2010
Jamshedpur (ANTARA News/Asia Pulse) - Tata Steel (BSE: 500470) on Saturday said that it would raise the production capacity its Jamshedpur plant to 10 million tons per annum from 6.8 million tons at present.
Tata Steel Managing Director, B Muthuraman said here that with the opening of blast furnace `H' on Saturday, the existing
capacity of the company would increase to 10 million tons by the middle of 2010.
Muthuraman said that construction work at the company's proposed plant at Orissa would begin soon, while the other at Chattisgarh was showing signs of good progress.
BANK INDONESIA AGREES ON BANK NIAGA, BANK LIPPO MERGER
Jakarta (ANTARA News/Asia Pulse) - Bank Indonesia (the central bank/BI) has issued an in-principle permit to Bank Niaga (JSX:BNGA) and Bank Lippo (JSX:LPBN) to merge their businesses.
"They have applied for a permit. In principle, we have no objection to the planned merger," Director of the Banking Research and Regulation Directorate at Bank Indonesia Halim Alamsyah said on Friday.
Given the BI's approval, the merger of the two banks whose shares are owned by Malaysia's Khazanah Nasional Berhad can be realized soon, he said.
HYUNDAI MOTOR'S MAY SALES UP 8.5% ON ROBUST FOREIGN DEMAND
Seoul (ANTARA News/Asia Pulse) - Hyundai Motor Co. (KSE:005380), South Korea's largest carmaker, said on Monday its sales rose 8.5 per cent in May from a year earlier, thanks to robust foreign demand, particularly in emerging markets.
But, the near-term outlook for Hyundai Motor, the world's sixth-largest automaker with its affiliate Kia Motors Corp. (KSE:000270), remains uncertain as the company is facing a double threat from surging raw-material costs and a global economic slowdown.
AUSTRALIA'S AMCOR TO SELL PERTH PACKAGING PLANT FOR US$33 MLN
Melbourne (ANTARA News/Asia Pulse) - Australian packaging giant Amcor Ltd (ASX:AMC) will sell its Perth-based flexible packaging plant to an industry peer for A$35 million (US$33.3 million).
The sale of the plant to Integrated Packaging follows Amcor's announcement in April that it will sell two of its European packaging plants as part of a restructure there.
"Amcor's strategy in flexible packaging is to focus on the higher value-add segments of the food and healthcare markets," Amcor chief executive Ken MacKenzie said.
"This plant was not aligned to the remainder of the flexibles business as it was the only Amcor site that produced industrial stretch wrap film."
BANGLADESH'S RTV JOINS TV SOUTHASIA
Dhaka (ANTARA News/Asia Pulse) - TV Southasia, a collaborative venture between AAJ TV (Business Recorder Group) of Pakistan, Broadcast Worldwide of India, Image Channels of Nepal, Maharaja Group (MTV Private Ltd) of Sri Lanka, was recently joined by RTV Pvt Ltd. from Bangladesh as a media partner.
RTV will be contributing content to the channel and would be representing Bangladesh in this regional partnership, said a press release. TV Southasia is a media voice that reflects the spirit, heritage and culture through the form of content contributed by all the partnering channels.
This is the only joint venture between private entities in the media space in South Asia with largest representation from all the five countries.
Source:
Business in Asia Today - JUNE 02, 2008
published by Asia Pulse
COPYRIGHT © 2008
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