1 2 3 4 5 » India, Japan Look To Ease Visa Rules To Boost Trade Last Updated: Dec 29 2009 7:05AM India and Japan agreed on Tuesday to ease visa rules within a year to boost trade between two of Asia's biggest economies that are also trying to broaden cooperation in defence and nuclear energy. Japan is among India's biggest aid donors and bilateral trade has only begun picking up in recent years with Tokyo easing sanctions it imposed after India tested a nuclear device in 1998.   India, Japan Look To Ease Visa Rules To Boost Trade Last Updated: Dec 29 2009 7:04AM India and Japan agreed on Tuesday to ease visa rules within a year to boost trade between two of Asia's biggest economies that are also trying to broaden cooperation in defence and nuclear energy. Japan is among India's biggest aid donors and bilateral trade has only begun picking up in recent years with Tokyo easing sanctions it imposed after India tested a nuclear device in 1998.   India, Japan Look To Ease Visa Rules To Boost Trade Last Updated: Dec 29 2009 7:08AM India and Japan agreed on Tuesday to ease visa rules within a year to boost trade between two of Asia's biggest economies that are also trying to broaden cooperation in defence and nuclear energy. Japan is among India's biggest aid donors and bilateral trade has only begun picking up in recent years with Tokyo easing sanctions it imposed after India tested a nuclear device in 1998.   South Korea To Give US$22 Million Of Aid To North Last Updated: Dec 28 2009 7:04AM South Korea said Monday it would provide 26 billion won (US$22.2 million) for humanitarian projects in North Korea, the second donation this month to its communist neighbour amid easing relations. The unification ministry said it would donate 15.2 billion won to the World Health Organization's programme for malnourished children and 4.7 billion won to the UN Children's Fund UNICEF.   Japan PM to pursue thaw in India ties, boost trade Last Updated: Dec 28 2009 6:59AM Japan's prime minister, who has promised to forge a new place for east Asia in international diplomacy, opened three days of talks in India on Monday focusing on engineering a further thaw in relations and boosting trade. Yukio Hatoyama took office in September after 50 years of almost uninterrupted rule by the conservative, pro-U.S. Liberal Democratic Party, but has since seen his popularity ratings slide to 50 percent in a survey published on Monday.   Currency change cripples N.Korea markets: report Last Updated: Dec 9 2009 6:50AM SEOUL: Private markets on which North Koreans rely heavily for necessities have been paralysed since the communist state's shock currency revaluation last week, a report said Wednesday. South Korea's Hankyoreh newspaper quoted sources in China's border city of Dandong as saying private transactions -- which supplement the faltering state distribution system -- have come to a virtual halt. "The road linking Pyongyang and Sinuiju has been shut down. It's been hard to get through to partners in the North by phone," a Chinese businessman told the independent daily in Dandong, across the border river from Sinuiju. (cont)   UN asks for more funds to help storm-ravaged Philippines Last Updated: Nov 18 2009 6:36AM MANILA: The United Nations on Wednesday nearly doubled its appeal for funds to help the Philippines cope with the effects of back-to-back storms that left over 1,100 people dead and 1.7 million homeless. The office of the UN's resident coordinator in Manila said the agency had revised upward its appeal to 143.7 million dollars – almost twice the 74 million dollars it had initially requested in October. Of the original appeal, only 26 million dollars have so far been raised, limiting the ability of aid agencies to effectively help those who are still in dire need of assistance, the UN said. (cont)   UN Report Predicts Trade, Economic Growth For Asia In 2010 Last Updated: Oct 29 2009 7:23AM A U.N. report forecasts a return to growth in Asian economies and trade in 2010. But U.N. economists recommend Asian governments increase trade within the region and become less dependent on markets such as the United States and Europe. The report by the U.N. Economic and Social Commission for Asia and the Pacific says Asia's growth strategy needs to refocus on increasing trade within the region.   Japan PM Blasts Excessive Capitalism Last Updated: Oct 26 2009 7:07AM Japan's centre-left Prime Minister Yukio Hatoyama on Monday launched a broadside against the excesses of capitalism, in his first parliamentary address since taking office last month. Speaking on his vision of a kinder, gentler society guided by the spirit of "fraternity," Hatoyama said market forces were useful for a country but must be tempered in order to create a livable society. "It is self-evident that free economic activity in markets invigorates society," said Hatoyama, 62, who swept to power in August elections, ending more than half a century of almost unbroken conservative rule.   ASEAN Leaders Launch Historic Human Rights Body Last Updated: Oct 23 2009 6:31AM HUA HIN, Thailand: Southeast Asian nations on Friday launched a new human rights body at a regional summit in the Thai resort of Hua Hin, an official said. News of the announcement comes despite criticisms that it will be too soft on members such as military-ruled Myanmar. Leaders of the 10-member Association of Southeast Asian Nations (ASEAN) have opened the annual regional summit in the elite Thai resort town of Hua Hin, with security forces locking down the area to prevent anti-government protests. The UN has urged leaders to make "credible" the long-awaited ASEAN Intergovernmental Commission on Human Rights (AICHR), which is meant to answer claims that the bloc has fallen short on rights during its 42-year history.   Nobel Economist Says Asia's Economies In 'Remarkable' Recovery Last Updated: Aug 21 2009 6:37AM Nobel Prize-winning economist Joseph Stiglitz says Asia's economies are on the way to recovery after the most severe downturn in a decade. But he sees the need for greater regulation and monitoring of global financial markets. Joseph Stiglitz says Asia's economies are in a good position to reduce their dependence on exporting goods to the United States and Europe. Speaking at a conference in Bangkok Friday, Stiglitz said he was upbeat over the economic outlook for the region. After slumping along with most other economies, Asian markets are rallying and some economies are expanding again, aided by government stimulus efforts. He said they should look more to the regional and domestic markets to boost growth.   ADB: Signs Show East Asia Moving Out Of Economic Slump Last Updated: Jul 23 2009 7:12AM The Asian Development Bank says East Asian economies are moving toward a recovery after sharp declines triggered by the global economic downturn. But the bank's economists say a sustained recovery will happen only after the major industrialized economies begin to grow again. The Asian Development Bank report released Thursday says the economies of East Asia are leaving behind the worst of the economic downturn that hit the world last year. Jong-Wha Lee, a senior ADB economist, says growth in the emerging East Asian economies fell because they still depend heavily on exports for growth.   China, U.S. To Discuss Korean Nuclear Issue At Strategic-Economic Dialogue Last Updated: Jul 22 2009 7:30AM BEIJING -- Chinese Foreign Ministry said Wednesday that the Korean Peninsula nuclear issue would be on the agenda of the first round of China-U.S. strategic and economic dialogue. China and the United States would discuss the resumption of the six-party talks and the peaceful resolution of the Korean Peninsula nuclear issue, Vice Foreign Minister He Yafei told a press conference here. The Democratic People's Republic of Korea (DPRK) conducted a nuclear test in May and fired several ballistic missiles on June 4,raising international concerns over regional security. The UN Security Council adopted on June 12 Resolution 1874 that allowed wider sanctions against the DPRK over its nuclear test.   ASEAN Ministers Talk Tough On Terrorism, Show Little Action Last Updated: Jul 21 2009 6:28AM The 42nd annual meeting of the foreign ministers of the Association of South-East Asian Nations (ASEAN) wound up Monday with a strongly worded joint statement on regional security issues but little action. The ASEAN foreign ministers' final joint statement condemned last week's Jakarta bombings and North Korea's recent underground nuclear test while calling for the freedom of Myanmar opposition leader Aung San Suu Kyi. The ministers also endorsed the terms of reference for an ASEAN Inter-Governmental Commission on Human Rights that will be launched at the upcoming 15th ASEAN Summit in October, also to be held in Phuket. ASEAN, which includes the pariah state Myanmar, has had a poor record in enforcing human rights protection in its region and the planned commission has already been labelled a 'toothless tiger'.   Thousands Stranded In Thailand's Train Strike Last Updated: Jun 23 2009 8:03AM Train worker strikes in Thailand halted services nationwide and stranded hundreds of thousands of passengers for a second day Tuesday, the state railway said. Around 200,000 train passengers were affected by the industrial action against plans to modernize the century-old enterprise, the State Railway of Thailand (SRT) said. The country's railway labor union is protesting at what it says are government plans to privatize the railway, and workers are demanding to participate in all stages of the proposals. But Thailand's transport minister Sopon Zarum denied that the scheme would involve privatization and he criticized the union for mounting the strike without warning. "It's inappropriate to stop working without negotiation... I am willing to hold talks with them," he told reporters ahead of a weekly cabinet meeting.   First Summit For Emerging Giants Last Updated: Jun 16 2009 8:20AM The world's newest economic grouping is to hold its first summit in the Russian city of Yekaterinburg on Tuesday. Bric is named after its four member states - emerging giants Brazil, Russia, India and China. They are expected to put efforts to improve the global economy at the top of the agenda. The BBC's Rupert Wingfield Hayes, in Russia, says Bric's main goal is to force the West to give greater recognition to the developing giants. China is now the world's third biggest economy, while Russia, India and Brazil are catching up with many key European economies. The term Bric was coined by US investment bank Goldman Sachs which used it to describe the growing power of emerging market economies in 2001.   Thailand Delays Asian Leaders Summit Again Last Updated: May 13 2009 7:48AM Thailand, which was forced to cancel a key Asian summit in April amid chaotic anti-government protests, has again postponed the meeting scheduled for next month. The government had hoped the regional meeting would finally be held in mid-June, but Prime Minister Abhisit Vejjajiva said on Wednesday that it was now likely to be pushed back to October -- 10 months later than originally planned. He said leaders from the 10-member Association of Southeast Asian Nations (ASEAN) and its six key regional partners had not been able to reschedule the meetings for June 13-14 on the southern tourist isle of Phuket.   Russia, China Sign Oil Deal Last Updated: Apr 22 2009 8:01AM Russia and China have signed an agreement under which Russia will export oil to China for 20 years in exchange for loans to Russian state companies. The agreement was signed in Beijing on Tuesday by Chinese Vice Premier Wang Qishan and Russian Deputy Prime Minister Igor Sechin. Under the agreement, China will provide a loan of 15 billion dollars to Russian oil company Rosneft and another loan of 10 billion dollars to Russian pipeline operator Transneft. Russia will provide 15 million tons of crude oil to China annually for a period of 20 years. Russia is building a pipeline to a Far Eastern port for shipment of Siberian crude oil.   China's Economy Slows To 6.1 Percent In Q1 Last Updated: Apr 16 2009 8:12AM China’s economy slowed to the lowest pace in ten years, as the country took more hits from a global slowdown, official figures showed on Thursday, but several key indicators are pointing to signs of recovery. The Gross Domestic Product (GDP) expanded 6.1 percent year-on-year in the first quarter, the seventh straight quarter of deceleration, Li Xiaochao, spokesman for the National Bureau of Statistics (NBS) told a press conference in Beijing. The reading may look low, especially for the Chinese who has got used to double-digit growth, but is much better than expected, analysts believed. "We were expecting a five-percent growth," Galaxy Securities chief economist Zuo Xiaolei told chinadaily.com.cn.   China’s Hu Attends the G-20 Last Updated: Apr 6 2009 3:19PM Download here (.doc)   Thailand Changes Venue Of ASEAN Meeting To Pattaya Last Updated: Mar 12 2009 7:54AM Thailand has again switched the venue of a long-delayed meeting of Southeast Asian leaders and key regional counterparts, saying on Thursday it would now be held in the beach resort of Pattaya. The change comes just a week after the southern tourist isle of Phuket was named to host the April 10-12 summit of Association of Southeast Asian Nations leaders plus China, South Korea, Japan, Australia, New Zealand and India. The conference was originally due to be held in Bangkok in December, but was postponed after anti-government protesters besieged the city's airports and has since been repeatedly rescheduled.   PM Wen Says China Faces "Unprecedented" Challenges Over Crisis Last Updated: Mar 5 2009 8:25AM Premier Wen Jiabao confidently declared Thursday that China would be able to ride out the unprecedented challenges of a worsening global crisis and achieve eight per cent economic growth this year. In his annual "state of the nation" address to open parliament, Wen gave the most detailed blueprint yet of a four trillion yuan (585 billion dollar) stimulus plan aimed at steering China through the downturn. However he did not unveil any new stimulus package in addition to the one outlined in November. Stock markets around the world soared Wednesday on expectations of another massive round of spending to boost China's economy.   Indonesia Proposes Islamic Fund To Help Least Developed Muslim Countries Last Updated: Mar 2 2009 7:56AM Indonesia has proposed the formation of an Islamic global fund to help the least developed Muslim countries weather the global financial crisis. The idea was mooted by Indonesian President Susilo Bambang Yudhoyono at the opening of the World Islamic Economic Forum in Jakarta. He said the fund could come from the sizeable reserves of the oil-exporting Muslim countries. It is one of the worst financial crisis in history. For the Muslim government and business leaders at the Fifth World Islamic Economic Forum in Jakarta, it is also a storm which has spared no one. But even then, it is critical that rich Muslim countries rally together to help their less-fortunate members, said the Indonesian president.   Hundreds Lose Jobs In Philippines Daily Due To Global Crisis Last Updated: Jan 23 2009 7:59AM Hundreds of people in the Philippines are losing their jobs everyday as the global economy slows, Labour Secretary Marianito Roque said Friday. Between December 1 and January 19, some 15,600 workers were laid off, he told local radio. Over the same period, 19,000 others had their shifts or working hours reduced. "Just for today it was reported to us that 458 people nationwide could lose their jobs," Roque said. He said most of the job cuts were happening in the electronics sector, which has suffered from plunging global demand. The sector employs 480,000 people and accounts for nearly 70 per cent of Philippine exports.   Russia Offers Deal To European Firms To Restart Gas Last Updated: Jan 16 2009 7:46AM BERLIN (Reuters) - Russian Prime Minister Vladimir Putin said on Friday he believed a deal could be reached soon with European firms to restart gas supplies to Europe cut off in mid-winter over a pricing dispute between Russia and Ukraine. Putin, on a visit to Germany for talks with Chancellor Angela Merkel on the gas crisis, was speaking at the start of a meeting in Berlin with European gas firms seeking to help restore gas deliveries to the continent. The consortium would provide gas necessary for technical reasons to get pipelines and pumping stations working again after European supplies were hit at the start of the year. "We propose to share risks and create something like a consortium, invest money in it and supply the technical gas. I think this can be done reasonably fast," Putin said.   India Truckers' Strike Ends On Eighth Day Last Updated: Jan 12 2009 8:31AM MUMBAI (Reuters) - Indian truckers on Monday called off an eight-day strike that had nudged up prices of commodities and disrupted supplies of industrial goods, after talks with the government on measures including cuts in tolls and taxes. "The All India Motor Transport Congress withdraws the strike unconditionally. Transport services shall be restored forthwith," the industry body, representing about six million trucks, said in a joint statement with the transport ministry. The transport ministry clarified there would be no increase in toll taxes on national highways for a period of one year, as agreed last July, and that a committee would look into issues relating to national permits and rationalization of taxes.   No Breakthrough As Japan, China Discuss Gas Field Last Updated: Jan 9 2009 8:13AM Japan and China made no visible progress in talks Friday on their renewed row over gas fields in the East China Sea. Japan's Vice-Foreign Minster Mitoji Yabunaka and his Chinese counterpart, Wang Guangya, held the meeting behind closed doors in Tokyo, as part of efforts by Asia's two biggest economies to ease years of tension. "We held candid talks for four hours and a half," Japan's foreign ministry said in a one-page statement after the talks. It said the two nations "renewed the recognition of the importance of this dialogue," without releasing further details.   Thailand Moves ASEAN Summit Venue Last Updated: Jan 7 2009 8:11AM Thai Prime Minister Abhisit Vejjajiva said Wednesday that the venue for a key regional summit next month had now been moved from Bangkok to a seaside town, partly due to possible anti-government protests. In the latest in a series of changes since the Association of Southeast Asian Nations (ASEAN) meeting was postponed from December, Abhisit said the February 27 to March 1 summit would now be in the resort of Hua Hin. Meetings with regional partners China, Japan, South Korea, India, Australia and New Zealand -- which were meant to occur simultaneously with the summit -- have been pushed back in April, he added.   Thailand Names New ASEAN Summit Dates Last Updated: Jan 6 2009 8:07AM Thailand Wednesday named new dates for a delayed summit of Southeast Asian nations but said arrangements for meetings with heavyweight partners including China and Japan would be made separately. The 10 members of the Association of Southeast Asian Nations have agreed to meet in Bangkok on February 27, 28 and March 1, said Virasakdi Futrakul, permanent secretary of the foreign ministry. The summit was originally due to take place in December but has been repeatedly rescheduled, once after Bangkok's airports were blockaded by protesters opposed to the previous government. "To organise an ASEAN summit shows that Thailand has returned to normalcy," Virasakdi said.   Myanmar Signs Gas Deal With SKorea, India, China: State Media Last Updated: Dec 29 2008 7:46AM Military-run Myanmar has signed a deal with South Korean and Indian companies to pipe natural gas from the energy-rich nation's offshore fields to China, state media reported Monday. The Myanmar Oil and Gas Enterprise inked the deal last Wednesday with South Korean companies Daewoo and Korea Gas Corporation and Indian energy firms ONGC Videsh and GAIL to supply gas to the China National United Oil Corporation.   Taiwan Hopeful Direct Sea, Air Links With China Will Help Boost Economy Last Updated: Dec 15 2008 8:26AM Taiwan's struggling economy, hit by the global downturn, could get a boost from the mainland, following Monday's historic opening of direct sea and air links.  Taiwan's state planning commission has set an economic growth target of 2.5 per cent for next year, which is much lower than this year's target of 5 per cent.  "Cross-strait shipping signals a conciliation of both sides, rather than the confrontation we used to have... We are facing a new era," said Taiwan President Ma Ying-jeou.   China, U.S. Pledge Cooperation After "Robust" Talks Last Updated: Dec 5 2008 8:25AM BEIJING (Reuters) - China and the United States pledged on Friday to boost efforts to tackle the turmoil engulfing global markets and to continue high-level cooperation when President-elect Barack Obama takes office. Among the few concrete results of the two-day meeting, the governments agreed to make an extra $20 billion of credit available to finance U.S. and Chinese exports to developing countries that are struggling to get access to trade credit. U.S. Treasury Secretary Henry Paulson, who led the U.S. delegation, described the talks as productive and said he was proud that the "Strategic Economic Dialogue" he had instituted had strengthened bilateral relations.   China’s Hu Attends the G-20, APEC, and Conducts Four State Visits Last Updated: Dec 2 2008 2:50PM Download here (.doc)   APEC Summit Ends Last Updated: Nov 24 2008 7:41AM The leaders of 21 countries and territories wrapped up the Asia-Pacific Economic Cooperation Forum summit in Lima, Peru on Sunday. On the second day, they agreed to take speedy and decisive action to deal with a global recession caused by the financial crisis. They also agreed that they will cooperate on monetary policies and measures to boost the economy.   APEC Agrees To Strengthen Cooperation On Financial Crisis Handling Last Updated: Nov 24 2008 7:39AM Leaders of APEC's member economies had agreed to keep carrying out measures and strengthen cooperations in a coordinative and comprehensive way to implement a clear policy in facing crisis. This point was one of the agreed matters of APEC's leaders in the first session of their meeting in Lima, Peru on Saturday (Nov.21). APEC (Asia-Pacific Economic Cooperation) member countries had also agreed to support the export credit agency, international financial institutions and private-owned banks to make sure about the funding adequacy for business activities including for the small-and-medium scale of enterprises and help maintain trade and investment in the region.   China's President Hu Calls For Deeper Partnership With Latin America Last Updated: Nov 21 2008 8:19AM Chinese President Hu Jintao called Thursday for a new era of cooperation with Latin America, saying the world's biggest developing country and the large developing region were a natural fit. Speaking to the Peruvian parliament during a state visit, Hu said China intended to add further momentum to already rapidly growing economic and other ties with South America and the Caribbean. "China and South America have already become extremely good friends and partners," Hu said. "On behalf of China's government and people I would like to express that China is willing to work together with South American and Caribbean countries toward an equal, mutually beneficial, total cooperative partnership."   Nauru Windfall From Phosphate Filtering Down Last Updated: Nov 20 2008 7:59AM The Nauru government says high phosphate prices over the past two years have dramatically improved the economic outlook for the nation. The finance minister, Kieran Keke, says while Nauru still has substantial debt, since phosphate mining restarted in 2006 prices have increased by 700 per cent. Dr Keke says the unexpected revenue from mining is having a positive impact, with a Singapore-based company the latest to express interest in investment in the tuna industry on Nauru. Dr Keke has told Radio Australia's Pacific Beat program the deal could be signed before the end of the year, and if so will provide hundreds of people with work.   Asia-Pacific Leaders Meet For Free-Trade Appeal Last Updated: Nov 19 2008 9:02AM Top officials from across the Pacific rim are set to open talks here Wednesday on the global economic crisis and to issue a joint appeal against protectionism. Peru, where Maoist guerrillas have stepped up attacks in recent weeks, was on its highest state of alert for the summit, which is the last scheduled foreign trip for unpopular US President George W. Bush before he steps down. Ministers of trade and foreign affairs from 21 countries including China, Japan, Russia and the United States will hold two days of talks to lay the groundwork for the leaders' summit on Saturday and Sunday. An official of the Asia-Pacific Economic Cooperation (APEC) forum drafting the leaders' statement said they would defend free trade despite the sharp slowdown in the global economy.   China Signs Trade Deals With Cuba Last Updated: Nov 19 2008 9:01AM China's President Hu Jintao has signed a series of trade and investment accords with Communist ally Cuba during a landmark visit to the island. President Hu agreed to continue buying nickel and sugar from Cuba and to send food aid to the island, Cuban TV said. The visit is part of Mr. Hu's tour of Latin America, where he is seeking to boost economic ties with the region. Mr. Hu also met Cuba's ailing former leader Fidel Castro, who has not been seen in public since 2006. "I see in person that you have recovered and have been energetic so I feel very pleased," Mr. Hu was quoted as telling Mr. Castro, 82, who underwent emergency surgery two years ago.   Malaysia Sounds Warning Over US Trade Talks Last Updated: Nov 18 2008 7:53AM Malaysia said Tuesday it will pursue long-running free trade talks with the United States under the incoming Washington administration, but will not budge on issues affecting sovereignty. The troubled negotiations began in March 2006 and have dragged on for eight rounds without producing an agreement, despite hopes a deal could be struck before President George W. Bush's term in office expires in January. "The government will keep reminding the United States that Malaysia will not compromise on their requests and unreasonable demands which touch on the country's sovereignty or go against national policies," Deputy Trade Minister Jacob Dungau Sagan told parliament according to the state Bernama news agency.   Australia, China Agree To Fast-Track Free Trade Deal: PM Rudd Last Updated: Nov 17 2008 8:49AM Australia and China have agreed to speed up work on a free trade agreement following discussions on the global financial crisis, Prime Minister Kevin Rudd said. Rudd, who met China's President Hu Jintao in Washington following G20 talks on tackling the financial meltdown, said no deadline for an agreement had yet been set. "We've agreed to adopt a fresh approach to speeding up the conclusion of this agreement even more," he told reporters in Washington on Sunday. "I can't put a specific timeline on that, but we will be reviewing progress again when next we meet."   Bangladeshi Diplomats Head To Myanmar For Energy Row Talks Last Updated: Nov 5 2008 8:24AM Bangladeshi diplomats headed to Yangon on Wednesday to try and smooth tensions over gas exploration in disputed waters, as a Myanmar official blamed "outsiders" for stoking the row. Bangladesh earlier this week deployed four warships to the Bay of Bengal close to the border between the two countries after accusing Myanmar of carrying out gas exploration in a disputed stretch of sea. Iftekhar Ahmed Chowdhury, Bangladesh's foreign minister, said a three-member team led by foreign secretary Touhid Hossain had left for Yangon. "I hope there is a diplomatic solution to this issue and the relevant authorities would dismantle the installation in disputed territorial waters," Chowdhury told AFP.   [Pakistan] Zardari Seeks Urgent Saudi Funds Last Updated: Nov 4 2008 7:51AM Pakistani President Asif Ali Zardari is travelling to Saudi Arabia on Tuesday on a two-day visit to seek assistance for Pakistan's cash-strapped economy. Mr Zardari's visit comes at a time when Pakistan needs urgent funds to tide over its trade and budget deficits. Economic, political and military co-operation between the two countries goes back several decades. Both worked together during the Soviet invasion of Afghanistan and again in the continuing US-led "war on terror". International obligations. According to the Pakistani foreign office, Mr Zardari will seek Saudi oil shipments against deferred payments of up to two years to reduce pressure on the country's trade imbalance. He will also seek Saudi support for the forthcoming meeting of a group of countries called the "Friends of Pakistan" (FOP), the foreign office said. Pakistan regards Saudi Arabia as one of its oldest and richest friends.   East Timor Renews Claim on Lucrative Oil and Gas Pipeline Last Updated: Oct 31 2008 8:24AM The president of East Timor has urged Australian resources giant, Woodside Petroleum, to support its plan to base a multibillion dollar oil and gas plant in his impoverished nation rather than in the Australian city of Darwin. From Sydney, Phil Mercer reports. The East Timorese government is drawing up plans to develop a pipeline and petrochemicals facility to process oil and gas from the Greater Sunrise field. Experts think the field, which lies in waters claimed by both East Timor and Australia, could be worth $90 billion. East Timor's plan competes with one by Australian company Woodside Petroleum, which wants to build a 500 kilometer pipeline to Darwin in Australia's Northern Territory.   Pacific Aid Donors Sign Agreement Last Updated: Oct 30 2008 8:08AM The two largest aid donors to the Pacific, Australia and the European Union, have signed off on a new partnership agreement. Australia's foreign minister Stephen Smith is in Paris and says the agreement covers issues like foreign policy, security, Asia-Pacific regional developments and climate change. Mr Smith says it's important Australia is seen as a good international citizen in its own region. He says the signing of the agreement with the EU marks a new beginning for both parties.   China, Russia Issue Joint Communique On Co-Op Last Updated: Oct 29 2008 8:29AM MOSCOW -- China and Russia issued a joint communiqué here Tuesday, pledging further efforts to strengthen strategic coordination and deepen cooperation in various fields. The communiqué was signed by visiting Chinese Premier Wen Jiabao and his Russian counterpart Vladimir Putin at the 13th regular prime ministers' talks between the two countries. During his visit, Wen also held separate talks with Russian President Dmitry Medvedev and Speaker of the Russian Federation Council Sergei Mironov, and attended the third China-Russia Economic and Trade Summit Forum. During his meeting with Medvedev, Wen and the Russian president had an in-depth exchange of views on the two countries' strategic coordination and cooperation, as well as major regional and international issues.   Thailand Moves ASEAN Summit To Chiang Mai Amid Bangkok Protests Last Updated: Oct 29 2008 8:25AM Thailand has moved a December summit of Southeast Asian nations to the northeastern town of Chiang Mai, a government spokeswoman said Wednesday, as protests drag on in the capital. Originally scheduled for Bangkok, the 14th annual Association of Southeast Asian Nations (ASEAN) summit will now take place in Chiang Mai from December 15 to 18, deputy government spokeswoman Suparat Nakbunnum told AFP, citing the cooler weather up north. "The prime minister told the cabinet meeting yesterday (Tuesday) that the summit would be held in Chiang Mai and the government had prepared venues for the meeting and accommodation," she told AFP. "It will be comfortable and easier to organize the meeting there." Although government officials have insisted that the change of venue was linked to the better climate, anti-government protests which began in May in Bangkok are also believed to be a key factor.   Hu Says Fundamentals Of China's Economy Have Not Changed Despite Crisis Last Updated: Oct 24 2008 8:19AM Chinese President Hu Jintao said Friday the fundamentals of China's economy had not changed, even though it was facing difficulties and challenges due to the global financial crisis. "The fundamentals of the Chinese economy have not changed. However, the global financial crisis has noticeably increased the uncertainties and factors for instability in China's economic development," Hu said. "We are now confronted with many difficulties and challenges in our economic endeavours," he said at the start of a gathering of Asian and European leaders in Beijing. Hu made the remarks amid signs the world's fourth largest economy is starting to feel deep impacts from the global crisis.   Philippines To Offer Emergency Jobs Creation Programme Amid Crisis Last Updated: Oct 23 2008 8:23AM Philippine President Gloria Arroyo is to offer a "New Deal" style emergency work programme for the country's poor to help tide them over as the economy slows, her chief aide said on Thursday. Arroyo ordered her cabinet to draw up "emergency work programmes and livelihood programmes targeting the poor - and also to some extent, the middle and lower middle classes," Executive Secretary Eduardo Ermita said in a statement. "In terms of intent and content, these programmes will bear a striking resemblance to the socio-economic interventions" of US President Franklin Roosevelt during the Great Depression, Ermita said. They are "envisioned to help the poor cope with, and coast through, the adverse repercussions" of the ongoing global credit crunch, he added.   China Vows To Help Cash-Strapped Pakistan Last Updated: Oct 17 2008 8:10AM China vowed on Thursday to do what it could to help cash-strapped Pakistan avert financial disaster as Islamabad's leader continued an official visit aimed at rustling up crucial Chinese investments. The promise came as Premier Wen Jiabao met Pakistani President Asif Ali Zardari, who is on his first official visit abroad after being elected in September. "As a long friend of Pakistan, China understands it is facing some financial difficulties," foreign ministry spokesman Qin Gang told reporters. "We're ready to support and help Pakistan within our capability." Zardari met Chinese counterpart Hu Jintao on Wednesday in a meeting in which the two sides pledged to strengthen decades-old ties and signed 11 bilateral agreements, one on unspecified economic cooperation. The Financial Times newspaper has reported, without citing sources, that Zardari would seek a soft loan of between 500 million and 1.5 billion dollars from China to help Pakistan avoid looming bankruptcy.   1 2 3 4 5 »