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Kyodo economic news summary -4-+
(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Aug. 26_(Kyodo) _ ---------- FSA to check postal bank's system before hookup to bank network
TOKYO - The Financial Services Agency will shortly examine Japan Post Bank's computer system before its hookup to the Japanese Bankers Association's online data communications system slated for January next year, FSA officials said Tuesday.
The probe will include whether the postal bank is ready for thorough preparations for the connection, including trial operations and programs to minimize adverse effects of any system failure, they said.
---------- Isuzu to sell Thai-made pickup truck in Russia
TOKYO - Isuzu Motors Ltd. said Tuesday it will begin sales of its Thai-made D-MAX pickup truck in Russia in February, expecting to sell 1,000 vehicles in the initial year and 5,000 in the third.
Isuzu Motors Co. (Thailand) Ltd. will build the pickup truck for sale by OAO Severstal Avto ISUZU, the Japanese vehicle maker's joint venture in Russia.
---------- Softbank Mobile to cut minimum monthly fee for iPhone to 2,324 yen
TOKYO - Softbank Mobile Corp. said Tuesday it will reduce the minimum monthly basic fee for Apple Inc.'s iPhone 3G smartphone from the current 2,990 yen to 2,324 yen, effective from Wednesday, apparently to counter the latest move by its larger domestic rival NTT Docomo Inc. to launch new low-charge services.
It will be the second time that Softbank Mobile, a phone unit of Softbank Corp., has lowered the minimum monthly basic fee for iPhone users since the company started selling the model in July.
---------- Singapore's sovereign fund makes billions in profit
SINGAPORE - Singapore's sovereign wealth fund Temasek Holdings Pte. Ltd. posted record profit of S$18 billion (US$12.6 billion) for the financial year ended in March, double the previous year, its senior executives said Tuesday.
They attributed the showing to strong performances by companies under its portfolio and healthy gains from direct investments.
---------- Key 10-year JGB yield closes slightly lower
TOKYO - The yield on the benchmark 10-year Japanese government bond closed slightly lower Tuesday.
In interdealer trading, the yield on the No. 295, 1.5 percent issue lost 0.010 percentage point from Monday's close to 1.415 percent.
---------- Tokyo stocks fall on renewed credit worries, led by financials
TOKYO - Tokyo stocks fell Tuesday, reversing the previous day's sharp rise, on the back of rekindled worries over the state of the U.S. financial sector stemming from the subprime mortgage crisis.
The 225-issue Nikkei Stock Average lost 99.95 points, or 0.78 percent, from Monday to 12,778.71. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 9.90 points, or 0.80 percent, to 1,229.35.
---------- Euro briefly falls vs. dollar, yen ahead of German economic data
TOKYO - The euro briefly fell to the upper $1.46 range and the upper 160 yen level Tuesday in Tokyo on grim economic prospects in the eurozone ahead of the release of the German Ifo Institute's business sentiment data later in the day.
Meanwhile, the U.S. dollar advanced to the upper 109 yen level, but dealers said the gains were capped by lingering signs of stress in the U.S. financial sector.
Copyright ? 2008 Kyodo News International, Inc.
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