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Japan to dispose US$4.6b stake in JR Tokai

The Japanese government unveiled yesterday plans to sell up to US$4.6bil of shares in Central Japan Railway Co (JR Tokai) as part of its efforts to trim the country's massive public debt.


Arroyo expected to announce cabinet reshuffle

MANILA (Reuters) - Philippine President Gloria Macapagal Arroyo will ask her cabinet to submit resignations ahead of a reshuffle, a source in her administration said on Thursday.


Sanyo may sell credit unit to finance revamp and cut debt

Loss-making Japanese electronics manufacturer Sanyo Electric Co may sell its credit unit to generate cash for restructuring and help reduce its mountain of debt, analysts said.


TNB determined to cut debt

BARELY a hundred days in office, Datuk Che Khalib Mohamad Noh has put in place several initiatives at Tenaga Nasional Bhd (TNB) to make it #8220;the best organizsation in the country,#8217;#8217; and to regain the glory of its heydays.


Foreign business news in brief

News in brief, including from Hong Kong that PCCW Ltd, the territory's dominant fixed-line phone company, said yesterday that talks on selling a stake in its core subsidiary to China Netcom are at an advanced stage, boosting the unit's bonds on hopes that a deal would cut debt.


L&G to focus on property, cut debt

LAND General Bhd (LG) plans to focus on its core business of property development to increase revenue while looking at ways to reduce debt, managing director Mike Krishnan said.


US$30 oil props up Opec nations as reforms stagnate

Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.


Revitalised RHB group poised for strong growth

A REVITALISED Rashid Hussain Bhd (RHB) group is all geared to take advantage of the better economic conditions to grow its business, now that a major part of its restructuring exercise has been completed.


Vivendi surprises with Q3 net profit

B>PARIS:/BFrench media and telecoms company Vivendi Universal reported its first quarterly net profit under chief executive officer Jean-Rene Fourtou, driven by its telecommunications, pay-TV and entertainment divisions.


Mitsubishi H1 profit rises 39%

B>TOKYO: /B>Japan's top trading house, Mitsubishi Corp, has achieved a 39% rise in first-half net profit on the back of strong performances by its energy and metals divisions.