Asia Times - Business in Brief

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border="0" height="18" src="/web/20030401222936im_/http://atimes.com/images/f_images/media.gif" width="80"></strong></a></div> </td> </tr> </table> </td> </tr> </table> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="10"><strong><font color="#000000" size="3"> <br> </font></strong> </td> <td align="left" valign="top" width="510"> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="64%" valign="top"><strong class="head">Business in Brief</strong></td> <td width="36%"> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td height="51" align="middle" valign="center"> <div align="right"><font class="time"> <script language="javascript"> function showDate(){ var monthArray=["Jan", "Feb", "Mar", "Apr", "May", "Jun", "Jul", "Aug", "Sep", "Oct", "Nov", "Dec"] var days=["Sunday", "Monday", "Tuesday", "Wednesday", "Thursday", "Friday", "Saturday"] var d=new Date(); var month=d.getMonth() var day=d.getDate() var year=d.getYear() // document.write("Today is " + days[d.getDay()] + "<BR>") document.write(monthArray[month]) document.write(" ") document.write(day) document.write(", ") if(d.getYear()<2000){document.write(year+1900)} if(d.getYear()>2000){document.write(year)} } </script> <strong> <script language="javascript">showDate()</script> </strong></font> </div> </td> </tr> </table> </td> </tr> </table> <table width="100%" border="0" align="left" cellpadding="0" cellspacing="0"> <tr> <td width="65%" valign="top"> <table width="406" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="406"><br> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><font color="#000000" size="2"><a href="/web/20030401222936/http://atimes.com/atimes/others/Company_in_brief.html"><strong>Company Briefs</strong> </a></font> </td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H1"><font size="2"><strong>Economics</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H2"><font size="2"><strong>Banking/Finance</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H3"><font size="2"><strong>Information Technology </strong></font></a> </td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H4"><font size="2"><strong>Telecommunications</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H5"><font size="2"><strong>Infrastructure</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H6"><font size="2"><strong>Energy</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H7"><font size="2"><strong>Autos</strong></font></a></td> </tr> <tr> <td width="7%"> <div align="center"><font size="2"><strong><img height="14" src="/web/20030401222936im_/http://atimes.com/images/f_images/arrow.gif" width="14"></strong></font></div> </td> <td width="93%"><a href="/web/20030401222936/http://atimes.com/atimes/Business_in_Brief.html#H8"><font size="2"><strong>Aviation </strong> </font></a> </td> </tr> </table> <a name="H1"></a> <br> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td> <div align="center"><strong><font color="#003399" size="4">Economics</font></strong></div> </td> </tr> <tr> <td> <p><font size="2"><br><strong><font color="#000000" size="3">S Korea posts trade deficit for third straight month<br></font></strong>SEOUL - South Korea suffered a trade deficit in March for the third consecutive month as surging imports overshadowed a record amount of exports. The Ministry of Commerce, Industry and Energy said on Tuesday the nation posted a trade deficit of US$362 million last month, down from $375 million in February. Korea's trade balance was $102 million in the red in January.<br><br><strong><font color="#000000" size="3">Malaysia needs Indonesian workers: Consul<br></font></strong>MAKASSAR, Indonesia - Up to 200,000 legal Indonesian workers are required by the eastern Malaysian state of Sabah to fill various jobs, including farming, factory work and domestic help, an Indonesian consul said. "Sabah needs the numbers of Indonesian workers on condition that their sendings are legal and known by the local administration," Maksum Tahir, Indonesian consul to Sabah, said here on Monday. <br><br><font color="#000000"><font color="#000000"> <hr color="darkorange"> </font><br>(</font>Advertisement)<br> <strong><font color="#000000">Investment Property / Real Estate</font></strong><br> Business hotel 47 kilometers from Frankfurt Airport, Germany, for sale. 40 rooms, restaurant and conference rooms for 200 people. Built in 1997. Price 2,500,000 euros including tax. Please contact <a href="https://web.archive.org/web/20030401222936/mailto:MichaHeuser@yahoo.de"> MichaHeuser@yahoo.de</a> or 00-49-172-268-8444.  </font><a><font size="2"> <strong>Visit</strong> </font><strong>our site online</strong></a><font size="2"><a href="https://web.archive.org/web/20030401222936/http://www.hotel-wasseruhr.de/"><strong> at </strong> </a><a href="https://web.archive.org/web/20030401222936/http://www.hotel-wasseruhr.de/"><strong>www.hotel-wasseruhr.de</strong></a><strong> </strong><font color="#000000"><br><br><font size="3"> <hr color="darkorange"> </font> </font><font color="#000000" size="3"><font color="#000000"><font color="#000000" size="2"><br><strong><font color="#000000" size="3">Philippine inflation rate expected to rise<br></font></strong>MANILA - Government economic planners expect the country's inflation rate in March to be slightly higher than last month's 3.1 percent. "We expect a slight increase in food prices due to the Iraq war. But March inflation could be lower than our low-end target of 4.5 percent," National Economic and Development Authority (NEDA) Director General Romulo Neri said. <br><br><strong><font color="#000000" size="3">Vietnam exports surge 43% in first quarter<br></font></strong>HANOI - First quarter exports jumped 43 percent to US$4.67 billion compared to the same period last year, according to General Statistics Office figures released last Friday. The office reported March exports alone jumped 26 percent to $1.6 billion, a record for the last few months. <br> </font></font></font></font> </td> </tr> <tr> <td height="18"> <div align="center"><font color="#003399"></font><a name="H2"></a><font size="2"><strong></strong></font> </div> <div align="center"><strong><font color="#003399" size="4">Banking/Finance</font></strong></div> </td> </tr> <tr> <td> <p><br><font color="#000000" size="3"><strong>China to replenish state banks' capital <br></strong><font color="#000000" size="2">BEIJING - China will take various measures to replenish the capital of state-owned commercial banks, said Zhou Xiaochuan, governor of the People's Bank of China (PBC). The governor said that the capital adequacy of the state commercial banks has not yet reached international standards, but the central bank will not pump funds into state commercial banks. <br><br></font><strong>Bank of Korea to issue US$3.2bn in bonds <br></strong><font color="#000000" size="2">SEOUL - The Bank of Korea (BOK) said it will issue 4 trillion won (US$3.2 billion) in long-term monetary stabilization bonds to prevent domestic interest rates from falling off. The bonds will be released starting this month and will have maturities of 18-24 months. The central bank said half of the bonds will be of the 18 month type, while the remainder will have a maturity of two years. <br></font></font> </p> </td> </tr> <tr> <td> <div align="center"><a name="H3"></a><br> <strong><font color="#003399" size="4">Information Technology</font></strong></div> </td> </tr> <tr> <td> <p><font color="#000000"><br><strong><font color="#000000" size="3">LANDesk Software sets up facility in Beijing<br></font></strong>BEIJING - LANDesk Software, a US-based provider of integrated desktop, server and device management software, has announced the formation of its LANDesk (Beijing) Software Limited entity and five new relationships with leading China-based businesses. LANDesk's new Beijing facility houses a business development office and a research and development staff.<br><br><strong><font color="#000000" size="3">Japan's Nihon Unisys, Indian firm tie up<br></font></strong>TOKYO - Nihon Unisys Ltd (TSE:8056) is teaming up with Indian systems development and administration firm Mascot Systems Ltd to start an application software outsourcing service. Mascot Systems develops and maintains applications and is also strong in evaluating and analyzing corporate usage trends. As such, it will provide development and administration services suited to the business environment. It will use more than 1,000 software developers in India and China to pare maintenance costs by 15-20 percent.<br><br></font><font color="#000000"><font color="#000000"><font size="2"> <hr color="darkorange"> </font></font><br><font size="2">(Advertisement)<br><strong></font><font size="2"><font color="#000000">#1 Rated Internet Business!</font><font color="#000000"></font><br></font></strong><font size="2">Own a WSI Internet Franchise. Join "#1 Fastest Growing Business Services Franchise", and the 4th Fastest Growing Franchise in the world! Home or office based. No technical experience required. Full training and support. WSI has more than 700 franchises in 87 countries worldwide!   </font><a href="https://web.archive.org/web/20030401222936/http://www.wsicorporate.com/business.asp?id=5293" target="_blank"><font size="2"> <strong>Click to receive your Free Information Package & CD </strong></font></a><strong><font size="2">.<font color="#000000"></font><br> <font color="#000000"></font></font></strong><font color="#000000"> <p></p> <p></p> <p></p><font size="2"> <hr color="darkorange"> <font color="#000000" size="3"><strong><br> </strong></font><font color="#000000"><font color="#000000"><strong><font color="#000000" size="3">Hudson enters online game market<br></font></strong>TOKYO - Hudson Soft Co (TSE:4822) is entering the market for what are known as massively multiplayer online role playing games (MMORPG). The company has already begun a free trial service to iron out the bugs and plans to launch a full-fledged pay-for-play MMORPG service this coming fall. <br></font></font> </font></font></font> </td> </tr> <tr> <td> <div align="center"><strong><a name="H4"></a></strong> </div> <div align="center"><font size="4"><font color="#003399"><strong>Telecommunications</strong></font></font></div> </td> </tr> <tr> <td><br><strong><font color="#000000" size="3">VTC to focus on smart cards, networks<br></font></strong>HANOI - The VTC Telecommunications Joint Stock Company (VTC) announced last Friday that it would continue to invest in business expansion this year, with a focus on smart card manufacturing and network access systems. An additional VND2.8 billion (US$182,000) will be invested in the research program focusing on AN2 telecommunications access equipment so that by the end of the year the product will be available in the market. <br><br><strong><font color="#000000" size="3">TCIL proposes IPO, plans to offload 25% stake<br></font></strong>NEW DELHI - State-owned Telcommunications Consultants India Ltd is planning to go for an Initial Public Offering for offloading 25 percent stake in the domestic market, subject to Government approval. "We wish to go for an IPO, for offloading 25 percent stake in the Indian market immediately," G D Gaiha, Chairman of TCIL, told Federal Communications and IT Minister Arun Shourie, while presenting him an interim dividend cheque of Rs 180 million (US$3.78 million) for the year 2002-03. <br><br> </td> </tr> <tr> <td> <div align="center"><font size="4"><a name="H5"></a><br> <strong><font color="#003399">Infrastructure</font></strong></font></div> </td> </tr> <tr> <td> <p><font color="#000000"><br><strong><font color="#000000" size="3">Vietnam's Vinashin exports jump<br></font></strong>HANOI - Since the establishment of the Vietnam Shipbuilding Industry Corporation (Vinashin) in July 1996, legislation and investment in shipyards have proved the rising tide that lifts all boats, according to Vinashin officials. Buoyed by a five-year investment project to raise production capacity and quality, last year Vinashin's exports increased by 116 percent over 2001 figures - to US$51.5 million - and revenue from foreign ship repair bounced to $2.7 million.<br><br><strong><font color="#000000" size="3">Komatsu to switch to merit reward system<br></font></strong>TOKYO - Komatsu Ltd (TSE:6301) will on Tuesday abolish its seniority-based promotion program for managers and introduce a system that rewards them based on job site responsibilities and performance. The new system will cover around 1,000 managerial workers from deputy section managers up. It will divide into seven classifications management positions that until now have been divided into five. Workers in each classification will receive a base salary plus an annual bonus tied to performance evaluations.<br> </font> </p> </td> </tr> <tr> <td> <div align="center"><b><font size="4"> <font size="4"><a name="H6"></a></font><font color="#003399"> <br> Energy</font></font></b></div> </td> </tr> <tr> <td> <p><br><strong><font color="#000000" size="3">PetroChina's net profit increases 3.17%<br></font></strong>HONG KONG - PetroChina Company Limited (PetroChina) announced on Monday a net profit of 46.91 billion RMB yuan (US$6.02) for 2002, up 3.17 percent from 2001. During the period, the company's revenue reached 244.42 billion RMB yuan (US$31.34 billion), up 1.29 percent.<br><br><strong><font color="#000000" size="3">Sinopec posts 3.6% rise in 2002 operating profit<br></font></strong>HONG KONG - Operating profit of China Petroleum & Chemical Corporation (Sinopec) reached 28.30 billion RMB yuan (US$3.42 billion) in 2002, a 3.6 percent increase compared with 2001, the company announced on March 31. Revenue for the year was 340.04 billion RMB yuan (US$41.07 billion), a 6.8 percent increase, and profit attributable to shareholders reached 16.08 billion RMB yuan (US$1.94 billion).<br><br><strong><font color="#000000" size="3">Korean oil companies to lower prices<br></font></strong>SEOUL - Korean oil companies said they will lower domestic prices by 10-20 won (US$0.01-US$0.02) per liter as of Tuesday. SK Gas (KSE:18670), LG-Caltex Oil (KSE:17940) and Hyundai Oil Bank said they were lowering prices for gasoline, kerosene, and light oil and diesel fuel after recent drops in international crude prices.<br> </p> </td> </tr> <tr> <td> <div align="center"><b><font size="4"><font color="#003399"></font></font></b><font size="2"><b><font size="4"><b><a name="H7"></a></b></font></b></font> </div> <div align="center"><b><font size="4"><font color="#003399">Autos</font></font></b></div> </td> </tr> <tr> <td> <p><br><strong><font color="#000000" size="3">India's auto exports up 69% <br></font></strong>NEW DELHI - 'Made-in-India' passenger cars, two and three-wheelers continued to attract overseas buyers as automobile exports surged by 69 percent during the first 11 months this fiscal year. Total exports rose to 2,69,000 vehicles during April-February 2002-03 from 1,59,000 vehicles a year ago, data compiled by the Society of Indian Automobile Manufacturers (SIAM) showed. <br><br><strong><font color="#000000" size="3">Korean car makers change Europe strategy<br></font></strong>SEOUL - Korean carmakers are required to adopt new sales strategies for Europe, where their sales and market shares are sluggish, the Korean Automobile Manufacturers Association (KAMA) said Tuesday. According to the association, the automakers sold 389,222 vehicles there last year, down 5.2 percent from a year ago, with market share also declining by 0.1 percentage point to 2.7 percent. <br> </p> </td> </tr> <tr> <td> <div align="center"><font size="4"><font color="#003399"> </font></font><b><font size="4"><b><a name="H8"> </a></b></font></b> </div> <div align="center"><font color="#00008b" size="4"><strong>Aviation </strong></font> </div> </td> </tr> <tr> <td><font size="2"><font color="#000000" size="2"><font color="#000000"><font color="#000000"> <p><font color="#000000"><br><strong><font color="#000000" size="3">International fares to be raised in South Korea<br></font></strong>SEOUL - The Ministry of Construction and Transportation said Tuesday it will raise overseas air fares by up to 8 percent for tickets issued after April 16, in an attempt to shore up domestic airliners' finances amid rising oil prices. By country, economy class travelers to Japan should pay 30,000 won (US$24) more for a return trip ticket, while those to China will have to pay 28,000 won more. <br><br><strong><font color="#000000" size="3">Vietnam Airlines plans direct flights to Paris <br></font></strong>HANOI - Vietnam Airlines is to launch direct flights from Hanoi and Ho Chi Minh City to Paris, shortening the duration of the journeys to 11 hours. The new route from Ha Noi is scheduled to open on May 27, whereas direct flights from Ho Chi Minh City will not start until July. <br><br><strong><font color="#000000" size="3">Hong Kong imposes restrictions on Pakistanis<br></font></strong>KARACHI - Hong Kong has imposed visa restrictions on all Pakistanis visiting for business or other purpose, travel agents revealed on Saturday. Pakistan International Airlines (PIA) has circulated on its reservation system that Pakistani national will require a visa to enter Hong Kong for any purpose including those who are in transit and remain on the air side. <br> </font><font color="#000000"><br> </font><font color="#000000"><font color="#000000" size="2">(</font>Asia Pulse) </font> </font></font></font></font></p> </td> </tr> </table> </td> </tr> </table> <br> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td height="40"> <div align="center"><a href="#top"><br> </a><a href="https://web.archive.org/web/20030401222936/http://www.kwrintl.com/" target="_blank"><img border="0" height="60" src="/web/20030401222936im_/http://atimes.com/images/f_images/KWR-big.gif" width="468"></a><a href="#top"><br> </a> </div> </td> </tr> </table> </td> </tr> <tr> <td width="65%" valign="top"> <div align="right"><a href="#top">Back to the top<br> </a> </div> </td> </tr> </table> </td> <td width="10" valign="top" 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