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Monday, October 22, 2007
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IPONews
Oct 22 2007 5:44AM
PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, Oct 22 (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 and does not vouch for their accuracy.

FINANCIAL TIMES (www.ft.com)

-- A committee of top international bankers warned that the proposed $75 billion mortgage securities superfund must be transparent in its pricing of assets if it is to help restore market confidence.

-- India is planning its largest ever auction of oil and gas exploration blocks and has set a tentative start date of mid-November to begin marketing the sale around the world.

-- Beijing's sprawling Shougang <000959.SZ> steelworks has promised to slash production for a full three months next year to help ease air pollution in the Chinese capital during the Olympic Games, but expects to receive government compensation for its "sacrifice".

-- PetroChina <0857.HK>, the world's largest energy company, has launched its long-awaited local initial public offering, which could raise more than $9 billion in what would be the largest domestic listing.

-- Telstra <TLS.AX>, Australia's dominant telecoms group is again braced for a shareholder revolt over executive pay after ISS Governance Services, which advises investors on voting, urged shareholders to reject the group's remuneration report.

-- Pakistan's government plans to enforce new laws banning political marches on the streets during the upcoming election season in the wake of last week's devastating bomb blasts in Karachi that wrecked opposition leader Benazir Bhutto's homecoming parade and left at least 140 people dead.

-- Real estate magnate Wang Jianlin pours more than 2 billiom renminbi into building a new film production base in Yunnan to make morally positive entertainment for local edification.

-- China's Communist party has cleared the way for the appointment of a new senior leadership group following the retirement of a powerful vice-president and two other members of the nine-strong politburo inner circle.

WALL STREET JOURNAL (www.wsj.com)

-- Opposition to the United Auto Workers pact with Chrysler LLC continued to swell through the weekend as workers at two more plants voted against the deal, raising the pressure on the union's leadership to drum up support to save the contract.

-- The real-estate slowdown that hit the United States is spreading to Europe. Home prices in some of Europe's hottest markets are falling after a decade of double-digit-percentage price increases.

-- Alibaba is expected to unveil the Hong Kong initial public offering of business-to-business Web site Alibaba.com to retail investors on Monday.

-- Permira [PERM.UL] agreed to buy Japanese agrichemical firm Arysta LifeScience for about $2.2 billion in a deal that might reignite interest in the country's struggling private-equity market.

-- CVC Capital Partners Ltd. has invested $225 million in a Chinese plastic-bottle manufacturer, as foreign private-equity firms start to seal bigger deals in China.

((Compiled by Asia Desk, +65 6870-3821)) Keywords: ASIA PRESS BUSINESS

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