Taliban hold one missing soldier, 2nd killed – spokesman

July 26, 2010 By Leave a Comment

July 25 (Reuters) – One of two U.S. soldiers who went missing in Afghanistan was a captive of the Taliban and the other had been killed, a spokesman for the insurgents said on Sunday.

The Taliban leadership would decide later on the fate of the captive, Zabihullah Mujahid told Reuters by phone from an undisclosed location.

The two U.S. servicemen were reported missing on Friday after failing to return in a vehicle they had taken from their compound in Kabul, the NATO-led International Security Assistance Force (ISAF) said on Saturday. [ID:nSGE66N02C] (Reporting by Sayed Salahuddin; Editing by David Fox) (sayed.salahuddin@thomsonreuters.com; Kabul newsroom: +93 799 335 285)) (If you have a query or comment about this story, send an e-mail to news.feedback.asia@thomsonreuters.com)

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Afghanistan has enough funding for next 3 years-President

July 21, 2010 By Leave a Comment

July 20 (Reuters) – Afghan President Hamid Karzai told an international conference on Tuesday that Afghans wanted to have responsibility for their own security by 2014.

“I remain determined that our Afghan national security forces will be responsible for all military and law enforcement

operations throughout our country by 2014,” he told the conference, called to discus how much more responsibility to give Afghanistan for its own affairs. (Reporting by David Fox; Editing by Michael Urquhart) (david.fox@thomsonreuters.com; Kabul newsroom: +93 799 335 284)) (If you have a query or comment about this story, send an e-mail to news.feedback.asia@thomsonreuters.com)

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DiGi says appoints new CFO effective August 2

July 21, 2010 By Leave a Comment

July 20 (Reuters) – Malaysian telco Digi.Com Berhad (DSOM.KL) said on Tuesday that it had appointed a new chief financial officer effective August 2.

The company said Terje Borge will replace Stefan Carlsson who has resigned. Borge was CFO of DTAC in Thailand for the past three years, following several executive roles in Telenor Asia and Telenor International Mobile.

(Reporting by Razak Ahmad, Editing by Niluksi Koswanage)

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Deutsche Bank names head of Asia corporate finance

July 19, 2010 By Leave a Comment

July 18 (Reuters) – Deutsche Bank (DBKGn.DE) said on Sunday it had appointed Henry Cai as its head of corporate finance Asia and the head of corporate and investment banking China.

Cai had resigned as UBS’s chairman of Asia investment banking and head of investment banking for China earlier this month.

Since then speculation has been rife that Cai was headed to Deutsche Bank.

(Reporting by Denny Thomas; Editing by Jonathan Thatcher)

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Tcom Technology Co., Ltd. Warns Of Digital Satellite Receiver with Unauthorized UL Mark

July 19, 2010 By Leave a Comment

BUCHEON CITY, Gyeonggi-Do, South Korea, July 18 /PRNewswire-Asia/ — TCOM TECHNOLOGY CO., LTD. is notifying consumers that a AZBOX EVO XL, identified below, bears an unauthorized UL Mark for the United States and Canada. This product has not been evaluated by UL to the appropriate standard for safety for the United States or Canada, and is not authorized to bear the UL Mark. It is unknown if this product complies with the United States or Canada safety requirements.

(Photo: http://photos.prnewswire.com/prnh/20100315/HKM001 )
(Photo: http://www.newscom.com/cgi-bin/prnh/20100315/HKM001 )

Name of Product: AZBOX EVO XL

Units: 45,500

Manufacturer: TCOM TECHNOLOGY CO., LTD. IN KOREA.

Identification: The below serial numbers marked on the product along with the UL Mark on the rear panel shown on the picture below:

TNG330907000001-6500
TNX24090907000001-2500
TNG330907009001-22000
TNG330907025001-50000
TNX24090907005001-12500

Consumer Contact:

— COMPANY NAME: TCOM TECHNOLOGY CO., LTD.
— ADDRESS: 601 CHUNGJUK TOWER 546-9, Sang2-Dong, Wonmi-Gu, Bucheon City,
Gyeonggi-Do, Korea
— TEL: +82-32-326-4842
— Email: info@i-linkone.com

Sold at: CALYANI Store located in 3108 NW 72 AV Miami, Florida

What you should do: TCOM TECHNOLOGY CO., LTD. recommends that users stop using the product immediately and return it to the place of purchase.

SOURCE Tcom Technology Co., Ltd.

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Thai c.bank sees more policy tightening

July 16, 2010 By Leave a Comment

July 15 (Reuters) – The Bank of Thailand is likely to tighten monetary policy further after Wednesday’s rate increase, Deputy Governor Bandid Nijathaworn said on Thursday.

“Yesterday’s policy rate rise will probably not be the only one … There is a chance that the rate will move higher in the future,” he told reporters.

“But we cannot tell what level it will go to, depending on economic indicators and inflation,” Bandid said.

The central bank raised its policy rate by 25 basis points to 1.50 percent from a record low of 1.25 percent on Wednesday, the first increase since the global financial crisis, citing the recovery in the economy and rising inflationary pressure across Asia. [ID:nSGE65103A]. (Reporting by Boontiwa Wichakul; Writing by Orathai Sriring; Editing by Alan Raybould)

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Nikkei surges on Intel-fed optimism, Komatsu climbs

July 15, 2010 By Leave a Comment

July 14 (Reuters) – Japan’s Nikkei surged 2.7 percent on Wednesday to break above key resistance, with chip-related shares powering higher after Intel results beat expectations to ease fears about the U.S. economic recovery.

In active trade, the benchmark also got a boost from Komatsu (6301.T), which lifted its full-year forecast by 14 percent, citing better-than-expected first-half sales in Asia and Latin America, as well as a pick up in demand in Japan and the United States. [ID:nTOE66C04V]

The benchmark Nikkei .N225 climbed 258.01 points to 9,795.24, cracking resistance at the level of its 25-day moving average around 9,660. The broader Topix rose 1.9 percent to 870.73. (Reporting by Elaine Lies)

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Nikkei gives up gains as China worry weighs

July 14, 2010 By Leave a Comment

July 13 (Reuters) – Japan’s Nikkei edged lower on Tuesday, weighed down as Shanghai shares fell after China said it had no plans to relax tougher property measures anytime soon, though falls were checked by hopes for U.S. earnings later in the day.

China’s key stock index .SSEC fell 1.6 percent after the government said it would continue to rein in speculation in the country’s red-hot property sector, weighing on shares throughout Asia. [ID:nTST000264]

The benchmark Nikkei .N225 shed 0.1 percent or 10.88 points to 9,537.23 after earlier rising nearly 1 percent. The broader Topix fell 0.4 percent to 854.39.

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Suicide attack kills 3, wound 50 in NW Pakistan

July 10, 2010 By Leave a Comment

Pakistan, July 9 (Reuters) – A suicide bomber killed three people and wounded nearly 50 in an attack outside the office of a senior government official in northwestern Pakistan on Friday, government and hospital officials said.

The bomber struck when dozens of people were gathered around the office in the Mohmand ethnic Pashtun tribal region on the Afghan border, where security forces have stepped up attacks on Taliban militants in recent weeks.

“The bomber blew himself up outside the office of an assistant political agent, killing himself and wounding dozens others,” a government official, Mehraj Khan, told Reuters.

Hospital officials said three people were killed and nearly 50 were being treated for multiple wounds.

Pakistan launched two major offensives in the northwest last year against homegrown Taliban militants who have killed hundreds of people in retaliatory attacks across Pakistan, mostly in the northwest, but also in major cities. (Reporting by Izaz Mohmand; Writing by Augustine Anthony; Editing by Chris Allbritton and Ron Popeski) (E-mail: augustine.anthony@thomsonreuters.com; Reuters Messaging: augustine.anthony.reuters.com@reuters.net; Islamabad newsroom: +92 51 281 0017)) (If you have a query or comment about this story, send an e-mail to news.feedback.asia@thomsonreuters.com)

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China Merchants Group acquires Australia’s Loscam

July 6, 2010 By Leave a Comment

July 5 (Reuters) – Hong Kong-based conglomerate China Merchants Group has acquired Australian pallet maker Loscam Ltd, Locam said in a statement on Monday.

The business was sold by private equity group Affinity Equity Partners for an undisclosed sum.

Loscam makes and hires out wooden and plastic pallets, and is a competitor to listed Brambles Ltd (BXB.AX), the world’s top pallet supplier. The company, based in Australia, has 11 offices throughout Asia. (Reporting by Michael Smith; editing by Balazs Koranyi)

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UPDATE 1-Fast Retailing, DNP Hldgs set up Malaysia venture

July 1, 2010 By Leave a Comment

June 29 (Reuters) – Japan’s Fast Retailing Co (9983.T), the operator of Uniqlo casual wear shops, said on Tuesday it has set up a joint venture with a unit of DNP Holdings (DPBM.KL) to open stores in Malaysia.

The company, which competes with Gap (GPS.N) and H&M (HMb.ST) in the budget apparel sector, has been aggressively expanding in Asian markets to feed its growth.

The Uniqlo chain has about 800 stores in Japan and runs 60 in China and 50 in South Korea.

The company said it plans to open its first store in Malaysia by the end of this year.

“We have positioned Asia as a strategic region and we think Malaysia has a very good business potential,” said Uniqlo spokesman Daisuke Hase.

Fast Retailing said it would hold a 55 percent stake in the joint venture with DNP Clothing, a wholly owned unit of DNP Holdings. (Reporting by Sachi Izumi and Taiga Uranaka; Editing by Michael Watson)

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UPDATE 1-Salamander Energy says TSL-1X well unsuccessful

July 1, 2010 By Leave a Comment

LONDON, June 29 (Reuters) – Salamander Energy Plc (SMDR.L), an Asia focussed oil and gas company, said it plugged and abandoned the Tom Su Lua-1X exploration well offshore Vietnam after the well was found to be dry.

The well, in the Vinh Chau Graben system, is the first exploration well in the basin. It encountered high quality reservoir sandstones but no hydrocarbons.

“Although a dry hole, the TSL-1X well confirmed certain elements of the play system in the Vin Chau graben,” said Chief Executive James Menzies.

The firm said in May that it is aiming for average daily production of between 17,000 and 18,000 barrels of oil equivalent (boepd) in 2010 and is planning 11 further exploration and appraisal wells between now and the end of the year. [ID:nLDE6491WM]

“Although disappointing, it should be re-iterated that this is only the first well in a new basin whilst Salamander have several further wells planned in this year’s campaign elsewhere including the high-impact Angklung prospect in Indonesia,” said Oriel Securites analyst Richard Rose on Tuesday.

(Reporting by Julie Crust; editing by Matt Scuffham)

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Indian shares extend losses to 1 pct on weak Asia

July 1, 2010 By Leave a Comment

June 29 (Reuters) – Indian shares extended losses to 1 percent on late Tuesday morning, with financials leading the decline, hurt by weak Asian stock markets.

Financials

At 11:52 a.m. (0622 GMT), the 30-share BSE index .BSESN was down 1.09 percent at 17,685.60 points, with 28 components declining.

The 50-share NSE index was down 1.2 percent at 5,272.20 points. (Reporting by Ami Shah; editing by Malini Menon)

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RPT-Godrej Consumer launches $87 mln via QIP -sources

July 1, 2010 By Leave a Comment

June 29 (Reuters) – Personal care products maker Godrej Consumer Products Ltd (GOCP.BO) on Tuesday launched a $87 million share sale to institutions, two sources with direct knowledge told Reuters.

The issue has an option to be raised to $130 million, they said.

Godrej is selling shares to institutions at 345 rupees per share, sources said adding that the issue is likely to be closed by evening.

Kotak Mahindra Bank (KTKM.BO) and HSBC Holdings Plc (HSBA.L) are the bankers to the issue. (Reporting by Nandita Bose and Indulal P.M.; Editing by Surojit Gupta) ((nandita.bose@thomsonreuters.com; tel: 91 22 6636 7374; Reuters Messaging: nandita.bose.reuters.com@reuters.net)) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)

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India’s Reliance Capital plans Islamic funds

July 1, 2010 By Leave a Comment

June 29 (Reuters) – A subsidiary of India’s Reliance Capital Asset Management will launch two Islamic funds in Malaysia by July and roll out products for retail investors in two years, a company official said on Tuesday.

Financials

Reliance, India’s largest asset management company, will launch a fund investing in Indian stocks next week and a quantitative global equity fund investing in the U.S., Europe and Asia in July.

Both funds would be managed out of Malaysia.

“The long-term objective is to target the retail sharia market in the region,” said Vikrant Gugnani, Reliance Capital’s international businesses CEO.

“We believe the retail story in Malaysia has yet to unfold and we want to be positioned well before to take advantage of (it).”

Reliance Capital Asset Management, which manages more than $33 billion, is part of financial services firm Reliance Capital (RLCP.BO). (Click on [ID:nISLAMIC] for more Islamic finance stories and ISLAMIC for a speed guide) (Reporting by Liau Y-Sing; Editing by Niluksi Koswanage)

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Japan July-Sept crude steel output seen up 10.7 pct y/y

June 30, 2010 By Leave a Comment

June 29 (Reuters) – Japan’s crude steel output in July-September is expected to grow 10.7 percent from a year earlier to 26.82 million tonnes, helped by exports to Asia and demand from domestic manufacturers such as carmakers and electronics makers, the trade ministry said on Tuesday.

Basic Materials

That would be down 4.3 percent from April-June, the ministry said, following a survey of Japanese manufacturers, exporters and steelmakers. (Reporting by Yuko Inoue)

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Japan July-Sept crude steel output seen up 10.7 pct y/y

June 30, 2010 By Leave a Comment

June 29 (Reuters) – Japan’s crude steel output in July-September is expected to grow 10.7 percent from a year earlier to 26.82 million tonnes, helped by exports to Asia and demand from domestic manufacturers such as carmakers and electronics makers, the trade ministry said on Tuesday.

Basic Materials

That would be down 4.3 percent from April-June, the ministry said, following a survey of Japanese manufacturers, exporters and steelmakers. (Reporting by Yuko Inoue)

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European stock index futures signal losses

June 23, 2010 By Leave a Comment

June 22 (Reuters) – European stock index futures pointed to a lower open on Tuesday as a dip on Wall Street and in Asia prompt investors to cash in some profits after a brisk nine-session winning streak.

Stocks | European Markets | Global Markets | Financials

By 0602 GMT, futures for the STOXX Europe 50 STXEc1, for Germany’s DAX FDXc1 and for France’s CAC FCEc1 were down 0.3-0.9 percent.

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Bookies see Europe stocks snapping winning run

June 23, 2010 By Leave a Comment

June 22 (Reuters) – Financial bookmakers expect to see the leading European benchmark indexes falling on Tuesday as losses on Wall Street and in Asia prompt investors to cash in some profits after a nine-session winning streak.

Stocks | European Markets | Global Markets | Financials

Financial spreadbetters expect Britain’s FTSE 100 .FTSE to open 42 to 48 points lower, or as much as 0.9 percent, Germany’s DAX .GDAXI to open 31 to 38 points lower, or as much as 0.6 percent, and France’s CAC-40 .FCHI to open 34 to 39 points lower, or as much as 1 percent. (Reporting by Blaise Robinson; Editing by James Regan)

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Volvo truck deliveries rise 44 pct yr/yr in May

June 17, 2010 By Leave a Comment

June 16 (Reuters) – World number two truck maker Volvo (VOLVb.ST) said on Wednesday shipments of its trucks rose 44 percent year-on-year in May as markets recovered from the worst downturn in decades.

Stocks | Global Markets | Industrials

Volvo, which sells trucks under the Renault, Mack, UD Trucks and Eicher brands as well as its own name, said shipments rose 25 percent in Europe from a year ago while they climbed 35 percent in North America.

In Asia, where the economic upturn has been firmer than on both sides of the Atlantic while Volvo has fortified its position through acquisitions in recent years, deliveries shot up 90 percent from a year ago.

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