WNS forms a joint venture with advanced Contact Solutions in the Philippines

WNS forms a joint venture with advanced contact solutions Inc. in the Philippines expands global delivery network by launching delivery center in Manila

Manila,Philippines & New York (BUSINESS WIRE) - WNS (Holdings) Limited (NYSE: WNS), a leading global provider of business process outsourcing (BPO) services, today announced the formation of a joint venture with Advanced Contact Solutions, Inc. (ACS), a pioneer and leader in BPO services and customer care in the Philippines.

The joint venture company, WNS Philippines Inc., will be majority owned by WNS and will offer contact center services to global clients across industries. The company has set up its first delivery center in Manila and intends to initially scale to 200 seats.

"With the joint venture, WNS is executing its strategy to expand its global delivery network. This expansion further enables us to bring a large high quality talent pool to help solve the business challenges of our clients while diversifying the geographic concentration of delivery," said Anup Gupta, COO, WNS Group. "In forming the venture with ACS, WNS has partnered with a local market leader that shares our vision of delivering high quality BPO services to clients.""ACS is embarking on establishing a global footprint through relationships with leading global BPO companies such as WNS," added Victor M. Endaya, President and CEO, ACS. "In this way, we can bring our clients good business practices and expertise in client and customer care."

According to research firm Frost & Sullivan, the Philippines is the third largest English-speaking nation in the world and produces 350,000 college graduates each year delivering a highly-educated talent pool for providing BPO services.

Earlier this year, WNS announced the opening of its delivery center in Bucharest, Romania. From its Romania center, WNS provides European language skills and high-end finance and accounting services for global clients.

About WNS

WNS is a leading global business process outsourcing provider. Deep industry and business process knowledge, a partnership approach, comprehensive service offering and a proven track record enable WNS to deliver business value to some of the leading companies in the world.

With over 18,000 employees, WNS is passionate about building a market-leading company valued by our clients, employees, business partners, investors and communities. WNS' home page is www.wnsgs.com.

About Advanced Contact Solutions

Advanced Contact Solutions (ACS) is the pioneer and leader in business process and customer care delivery in the Philippines. Since 1996, ACS has been providing its clients with superior customer experience through customized business solutions which exceed client expectations and delight customers. ACS partners with top Fortune 5OO companies, and top tier companies in the UK, Australia, Canada and the Philippines. ACS' home page is www.acspacific.com.

Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from?those that may be projected by these forward looking statements.

These risks and uncertainties include but are not limited to a slowdown in the U.S. and Indian economies and in the sectors in which our clients are based, a slowdown in the BPO and IT sectors world-wide, competition, the success or failure of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, legal and regulatory policy as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission.
These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's current analysis of future events. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investors:
WNS (Holdings) Limited
Jay Venkateswaran, +1?212-599-6960 Senior VP - Investor Relations
ir@wnsgs.com
or Media:
Gutenberg Communications
India:Ameya Sirur, +91 99875 88991 ameya@gutenbergpr.com
or UK: Shalini Siromani, +44 203 008 5231 shalini@gutenbergpr.com
or U.S.: Mike Sherrill, +1 212-239-8741 msherrill@gutenbergpr.com

Sringsofr and Novas agree to merge

Sringsofr and Novas agree to merge combination creates a powerful global organization leveraging proven product dDevelopment, sales, and marketing talent worldwide

Hsinchu, Taiwan (BUSINESS WIRE) - Springsoft Incorporated, the first public EDA company in Asia (TSE:2473.TW), and Novas Software, Inc. today announced that the boards of directors of both companies have approved an agreement for Springsoft to acquire all the outstanding shares of Novas that it does not already own.

When the transaction is completed, the two companies will be combined as a single, global EDA supplier based in Taiwan, offering a diverse range of industry-leading solutions positioned to meet advanced semiconductor design and verification needs. The agreement builds on the ten-year relationship between the companies that spans financial investment, joint technology development, mutual cross-distribution of products, and coordinated worldwide customer service.

Under the terms of the agreement, and pending customary shareholder and regulatory approvals, Springsoft will pay $2.25 USD per share ($28,629,409) to the other Novas shareholders, giving Springsoft ownership of 100 per cent of the shares.
Novas will become a wholly-owned subsidiary of Springsoft, and will be renamed Springsoft USA.

The combination will bring together a powerful set of resources and technology to form a cohesive global organization focused on growth and with a single vision of developing and supporting best-in-class electronic design automation technology and products. After the combination, the Springsoft product portfolio will include the Novas Verdi automated debug system and Siloti visibility enhancement solution, and the Laker custom physical design products.

"This is a strategic combination that brings together complementary strengths and creates an impressive organization led by a seasoned management team. It's actually better than a typical EDA acquisition because of the history of the two companies working together. Novas is already well positioned in the marketplace and now under the Springsoft banner they are taking the next step needed to make it one of the strongest EDA companies," said Gary Smith, Chief Analyst at Gary Smith EDA.

The Springsoft management team, led by President and CEO Martin Lu and COO Johnson Teng, will integrate the Novas management team. Nova's president and CEO Scott Sandler will take responsibility for worldwide marketing as well as head operations in North America and Europe as President of Springsoft USA. Bill Shepard, currently head of worldwide sales at Novas will assume that same responsibility at Springsoft.

"This transaction will accelerate our growth by leveraging the combined talent of Novas and Springsoft. This will allow us to more rapidly expand our product offerings and will further solidify our customer service leadership," said Lu, CEO of Springsoft. "The timing is right for the combination as the two companies have complementary development and growth plans that are even more powerful together. We are excited by our vision of a new type of global company built around technical
innovation and world-class customer support. This is a major step forward for Springsoft with many advantages for our customers, our investors, and our employees."

The combination will allow Springsoft to integrate Novas' focused team of US-based advanced technology developers into its large high-powered Asia-based product development team, and to build on Novas' track record of industry-leading customer satisfaction, applying that on a global basis to a broader product line.

"This is a very logical and efficient way for both Novas and Springsoft to accelerate our growth goals. The merger gives us a deeper set of technical resources working in sync to evolve our debug and verification enhancement products, and lets us offer our worldwide community of users a wider range of EDA solutions through the same well-known sales and service channel," said Sandler.

About Novas

Novas Software, Inc. is the leading provider of design comprehension solutions that enhance verification of complex ICs, embedded systems and SoCs. The Novas Verdi Automated Debug and Siloti Visibility Enhancement products cut debug time in half while dramatically minimizing simulation overhead.

Novas' global community brings together over 10,000 users and more than 50 third-party technology and service providers.
Novas is headquartered in San Jose, California, with offices in Europe, Japan and Asia-Pacific.

About Springsoft

Headquartered in Hsinchu, Taiwan, Springsoft is the largest Electronic Design Automation (EDA) company based in Asia, and the first to be publically traded (TSE:2473.TW). Springsoft pioneered the debug automation technology underlying the Novas product line, introducing the Debussy? debug system in 1997. It diversified its technology offerings in 2001 with the Laker
custom IC layout system, which incorporates the patented MagicCell? technology and has evolved into a full design-driven
layout platform.

Since its founding in 1996 Springsoft has invested in a diverse group of innovative companies, establishing a global co-development network (including Novas, Silicon Canvas, and Fortelink) to leverage talent worldwide. Along with the product-specific channels provided by these partner companies, Springsoft's sales and support channel includes direct operations in Taiwan and China, as well as joint-venture distribution partners in Japan (Novaflow) and Korea (KiTec).

For more information, visit www.springsoft.com
For Springsoft: Sam Wu, +886-3-579-4567 ext. 257 sam_wu@springsoft.com
or For Novas: Rob van Blommestein, 408-467-7872 rvanb@novas.com

LED and Solid State Lighting Industry suppliers coming together

LED and Solid State Lighting Industry suppliers coming together in Taiwan May 7-8 for Blue 2008 Conference

Austin, Texas (BUSINESS WIRE) - CompoundSemi Online and Solid State Lighting Net, publishers of the LED industry supply chain news source, LIGHTimes Online (www.LIGHTimes.com), have announced the return of the "Blue" LED conference to Hsinchu, Taiwan, May 7-8, 2008.

Located at the Ambassador Hotel in Hsinchu, this year's agenda is focused on the materials, chips and packaged LED technologies that drive the HB-LED, advanced LED and solid state lighting industries.

Agendas and detailed information on the May 7-8 conference and exhibition are online at www.BlueTaiwan.com.

Held in Taiwan since 2004, "Blue" has proven itself to be a key Asia-based networking event for LED executives and managers interested in exchanging the latest practices, strategies and tactics necessary for manufacturers, designers and suppliers in the solid state lighting and advanced LED industries.

2008 co-chairs include: Taiwan-based Dr. Yi-Jen Chan, ITRI's Electro Optics Laboratory VP & General Director; Dr. Bernd Schulte, COO of leading epitaxial equipment provider Aixtron AG; and Dr. Robert Walker of the noted US capital firm, Sierra Ventures.

Other speakers for 2008 include Dr. Robert Steele of Strategies Unlimited presenting the Global Market Keynote, along with Dr. Asif Anwar of the UK's Strategy Analytics covering the Global Materials Market, including a special blue laser market update. Other market presentors include Prof. Enboa Wu of Hong Kong's ASTRI regarding HK/China initiatives and Taiwan's Photonic Industry Development Association (PIDA) providing local market updates.

In addition to these global and regional market overviews, attendees will hear updates on the latest LED device (GaN, InGaAlP), fabrication and substrate technology solutions, as well as packaged device innovations and opportunities from LED industry newsmakers including Epistar, Philips Lumileds, Osram, Everlight, Luminus Devices, Kyma, BluGlass, Aixtron, Monocrystal and many more.

"The consistent feedback we get is that Blue offers perhaps the highest quality, most productively integrated agenda of any conference in the industry, and that translates to quality networking," offered Blue 2008 conference coordinator, Tom Griffiths.

Diamond Sponsors this year include Aixtron, Intematix, and Rohm&Haas along with 2008 Sapphire sponsor Monocrystal. Key support comes from LED supply chain news sources LIGHTimes (www.LIGHTimes.com), CompoundSemi News (www.CompoundSemi.com), and the general lighting-focused online news journal, Solid State Lighting Design (www.SSLdes.com).

Register at www.BlueTaiwan.com.
Solid State Lighting NetTom Griffiths, +1-512-257-9888
Blue-2008@SolidStateLighting.net

Business in Asia Today - April 04, 2008

VIETNAM AIRLINES INKS DEAL WITH AUSTRALIA'S VIRGIN BLUE
HANOI (ANTARA News/Asia Pulse) - Vietnam Airlines on April 1 officially announced a code share contract with Virgin Blue (ASX:VBA). Under the contract, Virgin Blue will collect passengers in 22 destinations in Australia and fly to Vietnam through Sydney and Melbourne.
The agreement will allow passengers to avoid dealing with check-in procedures and luggage transfers. Vietnam Airline offers flights between the two countries everyday of the week, with four flights from Sydney and three from Melbourne.
Vietnam Airlines, which was only established in 1989, has signed many developing contracts with large partners, such as Cathay Pacific (SEHK:0293), Korean Air (KSE:003490), Qantas Airways (ASX:QAN), China Airlines (TAIEX:2610) and China Southern Airlines (SSX:600029, SEHK:1055).

PETROVIETNAM TO BUILD OIL REFINERY, PETROCHEM COMPLEX
HANOI (ANTARA News/Asia Pulse) - The Vietnam National Oil and Gas Group (PetroVietnam) says it will sign joint venture contracts with Japanese and Kuwaiti partners to build the Nghi Son Oil Refinery and Petrochemical Complex.
The 7-million-tonne complex will be built at an estimated cost of US$2.5 billion in Nghi Son commune, northern Thanh Hoa province. Once operational, the plant will produce liquefied petroleum gas (LPG), petrol for classes 90, 92 and 95, kerosene, diesel, FO, jet fuel and other petrochemical products such as polypropylene, polyester, benzel, sulphur and asphalt.
At a press conference in Hanoi on April 3, PetroVietnam Chairman Dinh La Thang said the parties will sign the contracts on April 7, and may also come to an agreement to establish a joint stock company specialising in distributing the complex's products.
The group expects to earn US$18.75 billion (VND300 trillion) in 2008, which would represent PetroVietnam's highest ever earnings.

TAIWAN'S MOEA WELCOMES SONY'S EXPANSION IN LOCAL INVESTMENT
TAIPEI (ANTARA News/Asia Pulse) - Ministry of Economic Affairs (MOEA) officials expressed warm welcome Thursday at Sony's commitment to expand its investment and procurement in Taiwan, and said the ministry will offer its assistance to facilitate Sony's plans.
Ryoji Chubachi, Sony Corp. (TSE:6758) president, promised to President-elect Ma Ying- jeou that Sony would increase procurement, expand investment in Taiwan and engage in research and development of advanced products with Taiwanese companies.
"In addition to investment in local manufacturers, Sony's procurement of local electronic parts could also help Taiwan's export business," Berton B.C. Chiu, director-general of the Department of Investment Services under the MOEA added, citing Sony as an important partner in the development of Taiwan's electronic sector.

INDIA'S MOSER BAER SIGNS PACT WITH CHINA'S LDK SOLAR
MUMBAI (ANTARA News/Asia Pulse) - Compact disc-maker Moser Baer (BSE:517140) on Wednesday said it has signed a 10-year agreement with China-based LDK Solar for delivery of silicon wafers.
Silicon wafers are a key raw material for the photo-voltaic industry.
The solar wafers will be utilised for producing photo-voltaic cells that can generate 640 MW of solar power.
"We are pleased to enter into this mutually equitable agreement with LDK Solar to secure quality solar wafers. We look forward to a long-term relationship with LDK Solar as we work towards rapidly increasing our scale of operations and capacity," MBPV Chief Executive Ravi Khanna said.
The first wafers will be delivered in July and continue until 2017.

ITALY'S SAIPEM TO BUILD DOCKYARD, OFFSHORE RIG IN INDONESIA
JAKARTA (ANTARA News/Asia Pulse) - The Saipem Group from Italy has started preparation to build a dockyard and an offshore rig in the Karimun regency of Riau, Indonesia with an investment of US$370 million.
The project was inaugurated yesterday by Transport Equipment Director General Budi Darmadi, the newspaper Bisnis Indonesia reported today.
General Manager of Offshore Business of the Saipem Group Yves Inbona said the investment will be needed to buy land and build a steel factory and ferry terminal.
The facilities will be operated by a subsidiary, PT Saipem Indonesia. The factory is expected to start operation in 2010 and its output will be exported to countries such as China, India and South Korea.

AUSTRALIANS CONTINUE TO BUY GAS GUZZLERS DESPITE HIGH FUEL COSTS
SYDNEY (ANTARA News/Asia Pulse) - Australia's appetite for four-wheel drives and large utilities rose by around a sixth over the past year despite rising petrol prices and interest rates.
Total car sales from the Federal Chamber of Automotive Industries (FCAI) for the first quarter of 2008 were 263,453 vehicles, up 8,385 or 3.3 per cent at the corresponding period last year.
Sales of sports utility vehicles (SUV) rose 7,544, or 16.1 per cent over the past year, offsetting the drop in passenger car sales, 4,127, or 2.6 per cent year-to-date. Last month, figures from the Australian Bureau of Statistics (ABS) revealed new sales of SUVs for February rose to their highest level, 18,344 for a month.
More fuel chugging SUVs are being bought by Australians, even with petrol prices rising and four hikes in the official cash rate by the Reserve Bank of Australia since August last year.
Average petrol costs in Sydney from February 2007 to February 2008 jumped 19.91 per cent over the 12 months, according to fuel monitor FUELtrac.

WEST AUSTRALIA'S POWER SECTOR TO GET A FACELIFT
SYDNEY (ANTARA News/Asia Pulse) - Engineering company Downer EDI Ltd (ASX:DOW) will provide Western Australia's major electricity supplier, Western Power, with resources for the future transmission and distribution infrastructure of its south-west interconnected system.
Downer has formed an alliance with Western Power and Tenix Alliance to design, engineer, supervise, build and commission all transmission and distribution infrastructure allocated to the alliance.
Western Power transmits electricity to the south-west interconnected system of WA, a catchment including metropolitan Perth. Population growth and the booming mining industry has spurred demand for electricity in the state.
Downer EDI chief executive Geoff Knox said the alliance would help rectify the rift between a growing labor skills shortage in Western Australia and a growing power demand.
The alliance begins today and will run for five years, with an additional five year option.

MINERAL FUELS CHIEF UPBEAT ABOUT THAILAND'S LOCAL OIL PRODUCTION
BANGKOK (ANTARA News/Asia Pulse) - The Mineral Fuels Department's Director-General Krairit Nilkuha on Wednesday expressed confidence that Thailand could produce more oil for domestic consumption -- at a level of 250,000 barrels per day -- as soon as 2011 after a new oil field was found in the northern province of Petchabun.
At present, Thailand can produce oil and condensate, both onshore and offshore, at the rate of 210,000 barrels per day.
In addition, new natural gas fields, particularly in the northeastern region, are likely to be found, he said, adding that it could boost the country's energy stability because natural gas could be used to generate more power.
At present, the daily consumption of oil in Thailand totals some 800,000 barrels and that of natural gas around 5 billion cubic feet.

PHILIPS SELLS 6.71% STAKE IN LG DISPLAY
SEOUL (ANTARA News/Asia Pulse) - LG Display Co. (KSE:034220) said Friday that its co-founder Royal Philips Electronics NV has sold a 6.71 per cent stake in the world's No. 2 maker of liquid crystal displays.
Philips's sale of 24 million shares in LG Display lowers its stake to 13.2 per cent, LG Display said in a regulatory filing. The Dutch partner of the joint venture with South Korea's LG Electronics Inc. (KSE:066570) cut its stake to 19.91 per cent in October of last year to raise cash for dividends and acquisitions.
Philips has stated that it will scale down its stake in the venture to tap into health care and other businesses.

MALAYSIA'S EXPORTS IN FEB JUMP 14.5 PCT PUSHED BY CPO, PETROLEUM
KUALA LUMPUR (ANTARA News/Asia Pulse) - Malaysia's exports in February 2008 jumped 14.5 per cent to RM47.05 billion (US$14.8 billion) from RM41.1 billion a year earlier, driven by higher shipments of palm oil, crude petroleum, refined petroleum products and liquefied natural gas (LNG), the Statistics Department said Thursday.
Imports in February grew 10.9 per cent from a year ago to reach RM37.89 billion due to higher imports of intermediate and capital goods, it said in a statement.
It said Malaysia recorded a trade surplus of RM9.16 billion in February this year.
Total trade in February 2008 was valued at RM84.94 billion, up 12.8 per cent from a year ago.
In the first two months of this year, the nation's total trade reached RM181.29 billion, an increase of 10.7 per cent year-on-year.

Source:
Business in Asia Today - April 04, 2008
published by Asia Pulse

COPYRIGHT © 2008

Business in Asia Today - April 03, 2008

LEIGHTON HOLDINGS WINS MINING CONTRACTS IN INDIA
SYDNEY (ANTARA News/Asia Pulse) - Australia's biggest construction company, Leighton Holdings Ltd (ASX:LEI), has won two contracts worth $A1 billion ($US912.8 million) to develop and operate a open cut coal mine in north-eastern India.
Leighton subsidiary Thiess will build the infrastructure, then operate the Chitarpur coal project for 20 years, in Jharkhand state, the company said in a statement to the Australian stock exchange today.

HYUNDAI MOTOR SAYS U.S. MARKET 'DIFFICULT'
SEOUL (ANTARA News/Asia Pulse) - The head of Hyundai Motor Co.'s (KSE:05380) U.S. operations said Thursday the business conditions for its key American market are "difficult" amid high-flying oil prices and ongoing financial turbulence.
"We plan to overcome the difficult conditions by strengthening ties with dealers," Kim Jong-eun, chief executive of Hyundai Motor America told reporters on the sidelines of a meeting in Seoul between its U.S. dealers and Hyundai Motor Chairman Chung Mong-koo.
Analysts say an economic slowdown in the world's largest automobile market will drag down demand for new cars this year, following the subprime mortgage crisis. Hyundai Motor, South Korea's largest automaker, already missed its 2007 sales target in the U.S.

CATERPILLAR TO DOUBLE INVESTMENT IN CHINA OVER NEXT THREE YEARS
BEIJING (ANTARA News/Asia Pulse) - Caterpillar, the world's largest mining and construction equipment producer, will increase its investment in China by twice in the coming three years, said Jim Owens, chairman of the company.
He said that its investment in China accounted for a large proportion of its total investment of US$1 billion in the new emerging market and predicted that the sales and operation revenue this year would grow 10 to 15 per cent this year and the sales from Chinese market would reach about US$2 billion.

INDONESIAN GOVT URGED TO BE STERN OVER NEWMONT DIVESTMENT
JAKARTA (ANTARA News/Asia Pulse) - The Indonesian government should issue a stern warning to any party for funding non-governmental organizations (NGOs) in committing counter-divestment actions of the shares of copper miner, PT Newmont Nusa Tenggara (NNT), a legislator said.
"If there is sufficient evidence that NNT had encouraged NGOs to carry out counter-divestment, the government should give a stern warning," Tjatur Sapto Edy, a member of the House of Representatives (DPR)'s commission VII, said here Wednesday.
He said further that the government should be consistent in setting the deadlines for divestment after making a decision on NNT's negligence. "Should NNT fails to meet the deadline, the government has to set stop its operations and terminate its contract," Mr Edy said.

ABU DHABI AIRLINE ETIHAD ENJOYS RECORD-BREAKING FIRST QUARTER
ABU DHABI (ANTARA News/Asia Pulse) - United Arab Emiritaes airline Etihad Airways has enjoyed a record-breaking first quarter and remains on track to achieve its 2008 target of carrying six million passengers by the end of the year.
The Abu Dhabi-based airline carried 1.4 million passengers during the first three months of 2008, compared to one million for the same period in 2007, an increase of 40 per cent.
The airline achieved average seat factors of 75 per cent across its network of 45 destinations during the first quarter of 2008, which covers the months of January, February and March.

JAPAN'S SUMCO TO ACCELERATE SOLAR CELL WAFER PRODUCTION
TOKYO (ANTARA News/Asia Pulse) - Japanese company Sumco Corp. (TSE:3436), the world's second-largest silicon wafer producer, is expanding production of wafers for solar cells.
The company plans to increase output without undertaking any new capital spending.
To that end, subsidiary Sumco Solar Corp. will begin full-scale mass production at a large furnace and increase production speed.
Production volume is projected to rise 5 per cent to 110 megawatts in the year ending January 2009. By 2015, Sumco aims to raise annual production volume to 1 gigawatt.

CALL FOR CHINA TEXTILE INDUSTRY TO CARRY OUT TECHNOLOGY RESEARCH
BEIJING (ANTARA News/Asia Pulse) - Chinese experts have called on the textile industry to reinforce technology research and sharpen competitive competence in order to survive the market in 2008.
A survey conducted by the China Cotton Textile Association (CCTA) shows that 49.2 per cent of textile enterprises planned to turn to other business.
Their investment in textile production is expected to drop by 15.5 per cent this year, as producers received pressure from Renminbi appreciation, export drawback policy adjustment, trade friction and the rising costs on labor force.
CCTA calls on enterprises to boost technical innovation and rely on technology upgrading and brand effect for sustainable development.

AUSTRALIAN GROUP PROPOSES MELBOURNE-BRISBANE INLAND RAIL
CANBERRA (ANTARA News/Asia Pulse) - The company pushing a proposed Melbourne to Brisbane inland railway has submitted a business case to the NSW and Queensland state governments for a $A900 million ($US821.52 million), 350 kilometre section of the link.
The Australian Transport and Energy Corridor (ATEC) says the link will cost $A900 million and be built by 2014.
ATEC chairman Everald Crompton said the border railway would be built by a consortium of rail, infrastructure and superannuation companies.

CHEVRON OPENS SOUTHWEST CHINA OFFICE FOR GAS DEVELOPMENT
BEIJING (ANTARA News/Asia Pulse) - A Chinese subsidiary of the Chevron Corporation announced on Wednesday the opening of an office in Dazhou City in the southwestern Sichuan Province to support the U.S. oil giant's local natural gas operations.
The move came after a 30-year production sharing contract (PSC) was signed in December last year between Chevron and PetroChina, the listed subsidiary of China National Petroleum Corporation (CNPC), the country's biggest oil and gas producer. Jim Blackwell, Chevron Asia Pacific Exploration and Production Company president, said the PSC, for the development of a 1,969-sq km gas field in the onshore Sichuan Basin, became effective in February.

VIETNAMESE AUTO IMPORTERS TO LIFT RETAIL PRICES
HANOI (ANTARA News/Asia Pulse) - Car importers in Vietnam said they would increase retail prices to cope with the higher import tariff on new complete-built units (CBUs), effective immediately.
The Ministry of Finance on March 11 raised the import tariff on CBUs from 60 per cent to 70 per cent as part of a government drive to reduce traffic congestion by curbing the mass importation of automobiles into the country.
Experts said the government had attempted to force local auto makers to reduce sales prices by cutting import tariffs on CBUs and used cars but the price of locally-made cars remained the same.
Ha Minh Tuan, general director of Hyundai Motor Vietnam, the country's biggest importer of Korea's Hyundai brand, said the company will increase sales prices for all models by an average of 6 per cent.

Source:
Business in Asia Today - April 03, 2008
published by Asia Pulse

COPYRIGHT © 2008