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International Business News
NTT Docomo to lower fee for internet-access services
Ann/The Yomiuri Shimbun
Japan’s NTT Docorno Inc will lower fixed monthly fees for packet communication Internet-access services on its cell phones in October in an attempt to counter rivals such as KDDI Corp and Softbank Mobile Corp.
The company says it will cut charges for accessing Web sites and exchanging e-mail via its i-mode service from 4,095 yen (US$38) a month to 1,029 yen ($9.45).
It also plans to expand its network of retail shops to attract more customers in the fiercely contested cell phone communications market.
The new service, Pake Hodai Daburu, sets die fixed monthly fee of 1,029 yen ($9.45) on the condition that data transmission does not exceed a specified limit.
If this limit is exceeded, users will have to pay additional charges up to a maximum of 4,410 yen ($40.5).
Concerning the expansion of its retail network, NIT Docomo plans to open about 150 new shops, boosting it total outlets to about2,400.
NE Asian nations embrace bank privatisation
Ann/The Korea Herald
In the wake of extensive financial sector reforms and financial globalisation, bank privatisation has become the norm in Northeast Asian economies.
In recent years, policymakers in Korea, China and Japan have made increased efforts to revamp functions of their state policy banks, seeking ways to furdier initial public offerings, industry watchers noted.
The move aims to help improve governance, efficiency and performance of the state-owned banks. More important, a privatisation policy has become an important part of a move to transform the banking industry and become a global financial powerhouse, they said.
The financial industry is strategically important as a future growth engine. Northeast Asia has become the centre of the global economy -- the region accounts for 24 per cent of the world's population, 19 per cent of global production and 13 percent of global trade, according to the latest data.
The widespread trend of privatisation is likely to continue, and it is crucial for the government to help establish an appropriate platform for the state policy banks to undergo a smooth privatisation process, expens said.
Toyota shelves goal of selling 10m vehicles
AFP, Tokyo
Toyota Motor Corp, on Thursday slashed its 2009 sales forecast due to slowing demand, putting off its goal of becoming the world’s first automaker to sell more than 10 million vehicles in a year.
Toyota, vying with General Motors to be the world number one, now aims to sell 9.7 million vehicles in 2009, down from a previous target of 10.4 million. That would mark a 2.1 percent rise compared with the current year.
With sales in Japan, the United States and western Europe expected to stagnate, Toyota is pinning its hopes on fast growing emerging markets such as Brazil, Russia, India and China to drive its growth.
But even in those markets the outlook was foggy, said Toyota president Katsuaki Watanabe.
"The business environment is rapidly becoming more difficult. Things remain very uncertain, not just in the United States but in emerging countries and resource-rich nations as well," he told a press conference.
"Given the price of gasoline and the economic situation it is quite difficult to imagine a dramatic improvement in the Japanese market.”
Dubai port operator profits more than double in H1
AFP, Dubai
Dubai-based port operator DP World posted on Thursday a 123 percent increase in net profits in the first half of 2008, which hit 287 million dollars, despite a global economic slowdown.
The world's fourth-largest container port operator said its revenues grew by 32 percent to 1,598 million dollars, compared to the corresponding period last year.
"The business has performed very well in the first half of 2008 despite a deteriorating global financial and economic background, and these uncertainties remain," DP World chief executive officer Mohammed Sharaf said in a statement.
"In the last few months the industry has reported early indications of weakening growth in some markets," he said, but insisted that DP world has "continued to perform ahead of the market.”
Sharaf also told reporters that there was a slowdown in the whole industry in the markets of South Asia and China, while the Middle East and Africa continue to see stronger growth.