LOWERING THE BAR: After years of rapid growth, Asia's developing economies now face much more modest prospects, the Asian Development Bank said Wednesday in a report that slashes growth forecasts for this year and next.
JAKARTA, Oct 3- Five people died when a crude oil pipeline caught fire as it was being looted in Indonesia's Sumatra island early on Wednesday but production was not affected, state energy company Pertamina EP said. Eighteen people suffered burn injuries in the fire, which was brought under control by midday.
JAKARTA, Oct 3- Newmont Mining Corp, the world's no.2 gold miner, plans to lay off 100 people from a workforce of 4,000 at its giant Indonesian copper and gold mine, to reduce operating costs at a time of low output, it said in a statement on Wednesday.
BANGKOK, Oct 3- Stocks in Singapore, Malaysia and Indonesia edged slightly lower in light to moderate volume on Wednesday as commodities and energy shares such as Golden Agri-Resources. Singapore- listed commodities firm Golden Agri-Resources fell 3.1 percent, dragging down the benchmark Straits Times Index. After a choppy session, Bangkok's SET index.
Oct 3- Malaysia's exports probably fell further in August, hit by weaker demand in China for its electronic products and lower commodity prices, economists polled by Reuters said, leaving the country more dependent on domestic demand to support growth.
Oct 03- Fitch Ratings maintain the Rating Watch Positive on the ranks of Bank Danamon. RWP result of the acquisition proposal 67.4% share held by Temasek Holdings by DBS Group Holdings.
Oct 3- As inflation has been under control, central banks across Southeast Asia are likely to continue supporting economic growth in the face of increased global risks from the euro debt crisis and signs of slowing in the United States and China. Asia inflation graphic: Asia inflation stories Asian central banks.
CLSA Asia Pacific Markets sees a further downside risk to consensus earnings estimates in the Indonesian coal sector and advises investors to remain underweight and avoid chasing momentum. "Despite market optimism, Newcastle thermal benchmark coal prices have trended down to $84/ tonnes.
Express Transindo, part of Indonesian conglomerate Rajawali Group, manages 6,002 regular and 43 premium cabs, which operate in Java and Bali islands.
JAKARTA, Indonesia-- More than 2 million factory workers went on a one-day strike across Indonesia on Wednesday to demand better benefits and protest the hiring of contract workers, union officials said.
The Indonesian stock exchange suspended trading in the shares of PT Perdana Karya Perkasa after the stock jumped 141.57 percent between Sept. 10 and Oct. 2. The coal miner is in the process of acquiring a 5,000- hectare mine in East Kalimantan, the company had said in a statement to the stock exchange last month.
MANILA, Oct 3- The Asian Development Bank cut most of its 2012 and 2013 growth estimates for developing Asia on Wednesday as a slump in global demand weighs on the region's powerhouses China and India and on its other export-dependent economies.
Shares of Naim Holdings Bhd rose as much as 2.21 percent after the Borneo- based construction firm said it aimed to move into the real estate investment trust business.
Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
GLOBAL MARKETS-Dollar firms on uncertainty over Spain bailout timing. revised down its 2012 capital expenditure to around $165 million- $190 million from $300 million earlier, on concern over sluggish global coal industry, said finance director John Joseph Ramos, adding that the firm has delayed working on some infrastructure projects until the next year.
The ADB said growth in developing Asia, which includes giant emerging economies such as India, China and Indonesia, will slow to 6.1 percent this year from 7.2 percent last year and only partly rebound to 6.7 percent in 2013. It had previously forecast growth of 6.9 percent for 2012 and 7.3 percent for 2013. The forecasts don't include Japan, an advanced economy.
MANILA, Oct 3- The Asian Development Bank released its revised 2012 outlook for 45 economies in developing Asia, which spans the Pacific to Central Asia. Central Asia: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan. South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.
HONG KONG, Oct 3- Hong Kong shares are set to open flat to slightly lower after a long weekend as uncertainty over the timing of Spain's request for a bailout and worries about the global economy keep investors on the sidelines.
SINGAPORE, Oct 3- U.S. crude slipped below $92 a barrel on Wednesday, pressured by worries of slowing economic growth in the main consumer nations, while the festering euro zone debt crisis added to uncertainty. was down 24 cents at $91.65 a barrel by 0009 GMT, after settling down 59 cents at $91.89 on Tuesday.
*Former international trade and industry Aziz attends Asian Business Seminar Circuit 2012 at The Ritz-Carlton Hotel, Kuala Lumpur at 0800 am. *The CNBC Summit Malaysia at Hilton Hotel, Sentral, Kuala Lumpur at 0845 am. *Halal Industry Development Corp hands flag to the Malaysian Culinary Team at Hilton Hotel, Jalan Stesen Sentral, Kuala Lumpur at 0900 am.