SAN JUAN, Puerto Rico— Puerto Rico's governor has signed a bill letting the island's 78 municipal governments share administrative services as a cost-saving measure amid a deep fiscal crisis. Alejandro Garcia Padilla said late Friday that it is expected to result in substantial savings. Island mayors have backed the new measure as Puerto Rico struggles with... » Read More
OCBC Investment Research raised its target price on Frasers Commercial Trust to S $1.31 from S $1.23 and maintained its' buy' rating, citing the company's possible debt reduction, an expected rise in income and attractive valuation. Frasers units were up 0.4 percent at S $1.16 on Tuesday.
Oct 9- Educomp Solutions Ltd:. *Says to raise capital by issuing long term securities including international. *Says capital raising includes raising money through equity linked instruments.
SINGAPORE, Oct 9- Pakistan State Oil is seeking 845,000 tonnes of oil products for delivery from December 2012 to February 2013, about 50 percent more than it bought for September to December delivery, a tender document showed on Tuesday.
TOKYO, Oct 9- Japan and South Korea have agreed to let a bilateral currency swap arrangement expire as planned at the end of this month, Japan's finance ministry said on Tuesday. The two sides also agreed to hold a bilateral finance ministers' meeting on Oct. 11 in Tokyo on the sidelines of gatherings of the IMF and World Bank. Keywords: JAPAN ECONOMY/ SOUTH KOREA.
LONDON, Oct 9- BP's billionaire partners in TNK-BP, Russia's third-biggest oil producer, said they could sell or list their 50 percent stake in the business, plunging the venture's plans into further confusion, the Financial Times reported on Tuesday.
STOCKS TO WATCH> PT Astra Daihatsu Motor, a unit of Astra International, plans to spend 1 trillion rupiah to add 30 car dealerships over the next three years, said CEO Suparno Djasmin.> PT Pertamina EP, an upstream unit of state oil and gas firm PT Pertamina, said it will miss the 2012 oil output target of 132,000 barrels per day, as the firm has suspended its oilfields operation in Cirebon, West Java, after mass rally on Oct.3 turned chaotic, said Agus Amperianto, the company's human relations officer.> Small-sized lender Bank Maspion CEO Herman Halim expects to launch an initial public offering in the first quarter of 2013 and expects to raise 100 billion rupiah by selling 11 percent of its enlarged capital.
TOKYO, Oct 9- Japanese government bonds were steady on Tuesday, as heightened worries about slowing global growth and sagging stocks supported demand for fixed income assets.
TOKYO, Oct 9- The Asian Development Bank is crafting a preliminary aid plan for Myanmar, which will be extended on condition that the country solves its debt problem, the bank's president Haruhiko Kuroda said on Tuesday.
TOKYO, Oct 9- Economics Minister Seiji Maehara said on Tuesday he wants the Bank of Japan to quickly achieve results showing it is meeting its goal of a 1 percent rise in consumer prices. He also said the government and the central bank should consider additional policy options if necessary.
TOKYO, Oct 9- Sumitomo Metal Mining Co, a major Japanese non-ferrous metal producer, said it had found new gold deposit at its Hishikari mine in South Japan, which could generate 30 tonnes of gold.
SEOUL, Oct 9- South Korea and Japan have agreed to let their expanded currency swap arrangements introduced a year ago expire at the end of this month as scheduled, the Bank of Korea said in a statement on Tuesday.
BEIJING, Oct 9- China will keep monetary policy flexible and pre-emptive to support activity in an economy still facing relatively big downward pressure, central bank governor Zhou Xiaochuan said.
TOKYO, Oct 9- Asian shares rose on Tuesday but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings.
Maybank Kim Eng Securities raised its price target on state run Krung Thai Bank Pcl to 25 baht from 19 baht, reflecting strong loan growth outlook boosted by government spending. On Monday, Krung Thai Bank shares closed down 0.5 percent at 18.6 baht.
*Softbank falls, beaten by KDDI on sales of iPhone 5. TOKYO, Oct 9- Japan's Nikkei share average dropped in early trade on Tuesday on growing concern that companies will slash full year forecasts when they release quarterly earnings, after the World Bank warned China's slowdown may be more protracted than thought.
Kenanga Research downgraded Malaysia's real estate investment trusts to' neutral' from' overweight' as it believes there is limited room for further yield compressions.
HONG KONG, Oct 9- These are some of the leading stories in Hong Kong newspapers on Tuesday. --HSBC quietly laid off a number of investment bankers in Hong Kong on Monday. --PCCW chairman Richard Li has become the front runner in bidding for ING's Hong Kong insurance business with reports saying he is willing to double his offer to HK $15.6 billion.
SEOUL, Oct 9- South Korean stocks rebounded on Tuesday morning, propped up by bellwether Samsung Electronics, which gained for a third straight day after better-than-expected earnings estimates.
Japan's current account surplus unexpectedly rose in August from a year earlier due to an increase in earnings on overseas investments, but sagging exports due to the faltering Chinese economy and Europe's debt crisis still cloud the outlook.