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AseanPlus News 17 May 2004 | 12:00 AM

Sonia set to be sworn in

Indian Prime Minister-elect Sonia Gandhi and her new government are likely to be sworn in on Wednesday after a hectic weekend sealing deals with allies and new partners, officials in her Congress party said.

Business 27 Apr 2004 | 12:00 AM

China warns local govts that splurge

China will have to crack down on over-investment if unruly local governments continue their spending frenzy, vice central bank chief Wu Xiaoling was quoted yesterday as saying.

AseanPlus News 15 Mar 2004 | 12:00 AM

China’s People’s Congress amends constitution

China's parliament amended the constitution yesterday to protect private property, a landmark move that waters down the core Communist ideology of the world's most populous nation.

Business 12 Mar 2004 | 12:00 AM

China to accelerate banking reform

China will accelerate reforms this year to ensure its banks are in better shape to fend off foreign competition arising from its membership of the World Trade Organisation, the banking watchdog said yesterday.

Business 27 Feb 2004 | 12:00 AM

Investors snap up Thai Airports shares

The Thai government's offer of more than 428 million new shares in Airports of Thailand (AOT), to raise around US$436mil, sold out in less than two hours yesterday, an underwriter for the initial public offering said.

Business 12 Feb 2004 | 12:00 AM

Clampdown on excessive lending in China

Chinese Premier Wen Jiabao has ordered a clampdown on excessive lending, the strongest call yet to tackle a problem that could undermine the country's economic growth and complicate key reforms of banks and state firms.

Business 05 Feb 2004 | 12:00 AM

China reviving 'rust belt'

China is trying to revive its downtrodden #8220;rust belt#8221; in the north-east with a #8220;blood transfusion#8221; of around US$7.4bil,backed by a new bank, state media reported.

Business 15 Jan 2004 | 12:00 AM

Two China banks to write off bad debt with equity

China has allowed two big state-banks to use US$41bil in equity owned by the finance ministry to help clean up their balance sheets, in a further step towards preparing them for stock market listings.

Business 13 Jan 2004 | 12:00 AM

China seen bailing out more banks in reform push

China is expected to inject funds into two other state-banks which missed out on an initial US$45bil bailout, but the timing depends on their progress in cutting bad loans, government economists and analysts said.

AseanPlus News 12 Jan 2004 | 12:00 AM

Millions to lose jobs as state firms streamline

SOME three million workers may lose their jobs every year until 2006 as China#8217;s over-staffed state firms streamline.