Economic & Business

Seoul (ANTARA News/Asia Pulse)  - North Korea's trade appears to have dropped for the first time in 11 years in 2009 as its trade with China, South Korea and other major business partners declined.

Seoul (ANTARA News/Asia Pulse) - Hyundai Motor Co. (KSE:005380), South Korea's largest automaker, said today it has signed a contract to sell taxi sedans to ComfortDelGro Corp. (SGX:C52), the biggest operator of taxis in Singapore.

Jakarta (ANTARA News/Asia Pulse) - Dubai-based property developer Emaar Properties on Tuesday denied a report that it had pulled out of a long delayed US$600 million tourism project in Bali's neighboring island of Lombok.

Jakarta (ANTARA News/Asia Pulse) - Japan Bank for International Cooperation (JBIC) and a number of foreign financers have pledged a loan of US$1.81 billion for two coal-fired power plants in Java.

Beijing (ANTARA News/Asia Pulse) - Anhui Jianghuai Automobile Co., Ltd. (JAC)(SSE:600418), an auto producer based in Hefei, will construct its first overseas plant to produce trucks in Vietnam in April, the China Daily reported Wednesday.

State-owned power utility PLN`s plan to raise its basic electricity rate (TDL) by 15 percent is illogical, an observer said.

The government is expected to submit a plan for a 15-percent rise in the basic power rate (TDL) to the House of Representatives (DPR) in April, an official said.

Tokyo (ANTARA News/Asia Pulse) - Japan's financial sector on Tuesday restated its opposition to a government proposal to increase the current 10 million yen (US$111,090) deposit limit on postal savings.

New Delhi (ANTARA News/Asia Pulse) - Indian telecom major Reliance Communications (RCom) (BSE:532712) yesterday launched a new service VAS application 'Socially', which will allow users to follow social network sites like Facebook, Twitter and LinkedIn.

Melbourne (ANTARA News/Asia Pulse) - ANZ Banking Group Ltd (ASX:ANZ) says it has received separate regulatory approvals for its proposed acquisition of Royal Bank of Scotland's (RBS) businesses in Singapore and Taiwan. Singapore's Monetary Authority granted ANZ a full banking licence, the bank said in a statement on Wednesday.