February 25, 2008 / 12:14 AM / 11 years ago

PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Feb 25 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Monday. Reuters has not verified these stories.

FINANCIAL TIMES (www.ft.com)

— Japanese companies are turning to a financing scheme that includes what many investors fear is a hidden “poison pill” aimed at thwarting takeovers and reviving the zaibatsu industrial conglomerate system.

— International mobile telecoms producers such as Nokia NOK1V.HE will be big beneficiaries of an expected overhaul of the Chinese telecoms industry, said Colin Giles, Nokia’s president for Greater China.

— Freight derivative volumes have soared this year as banks and hedge funds have turned to a market that has not been affected by the credit crunch or economic slowdown.

— Local banks in emerging markets are offering aggressive financing packages to private equity firms in an effort to win business from international rivals that are unable to lend due to the credit crunch.

— UBS UBSN.VX, the European bank worst hit by the subprime crisis, faced another blow after HSH Nordbank [HSH.UL], the German public sector lender, said it would sue to recover subprime losses.

— Japan is considering stepping up its participation in international peacekeeping operations, including a possible dispatch of personnel to Sudan, Masahiko Koumura, the foreign minister, told the Financial Times.


— Morgan Stanley (MS.N) has short-listed three bidders for its stake in top Chinese investment bank CICC but is balking at the latest offers of about $600 million, which have fallen from over $1 billion earlier, in part because of an unusual CICC share structure.

— Temasek [TEM.UL] is near a decision to sell its stake in Bank Internasional Indonesia (BNII.JK), in a country that has proved challenging for the Singapore investment arm.

— A deal to pump $3 billion into bond insurer Ambac ABK.N could be completed by tomorrow if credit-rating firms approve it.

— China’s banking regulator said domestic banks can invest client funds in the Japanese stock market under an agreement with Tokyo’s finance regulator.

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