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Kyodo economic news summary -5-+(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Nov. 12_(Kyodo) _ ---------- APEC to draw up growth strategy in 2010 under Japan's initiative SINGAPORE - Pacific Rim ministers pledged Thursday to compile a long-term "inclusive" growth strategy for the region in 2010 under Japan's initiative and accelerate efforts to seek the integration of their economies through trade and investment liberalization. The foreign and trade ministers of the Asia-Pacific Economic Cooperation forum said in a joint statement after their two-day meeting in Singapore that they will continue to reject protectionism in international trade and urged "maximum flexibility" to successfully conclude the stalled Doha Round liberalization talks under the World Trade Organization within next year. ---------- APEC finance chiefs vow to keep fiscal stimulus to spur recovery SINGAPORE - Finance ministers from the Asia-Pacific Economic Cooperation forum vowed on Thursday to maintain fiscal stimulus measures to bolster the global economic recovery until the recovery is firmly established. "We agreed on the crucial role that supportive fiscal measures in the APEC region had played in avoiding an even deeper global recession and resolved to remain vigilant until the economic recovery gains traction," the ministers of the 21-member grouping said in a joint statement issued after a meeting in Singapore. ---------- KDDI to acquire 50% stake in Bangladeshi Internet service firm TOKYO - KDDI Corp. said Thursday it will acquire a 50 percent stake in BRAC BD Mail Networks Ltd. of Bangladesh through a third-party allotment of new shares by the Dhaka-based Internet access service provider. KDDI, Japan's second-largest mobile phone operator, decided to invest in the company known as bracNet as the penetration rate of the Internet remains as low as 2 percent in Bangladesh despite strong demand. ---------- JAL chief seeks approval for pension cuts from retiree representatives TOKYO - Japan Airlines Corp. President Haruka Nishimatsu met Thursday with representatives of a group of company retirees to seek approval for drastic cuts in pension benefits so the cash-strapped airline can gain access to public funds. Japan's top airline, headed for its fourth annual loss in five years, hopes to obtain by the year-end the necessary two-thirds consent for the reductions, which would be a prerequisite for JAL to receive a broader government bailout. ---------- Seiyu, Aeon vying in price cuts on plastic bottled Beaujolais Nouveau TOKYO - Supermarket chain operator Seiyu Ltd. said Thursday it will sell 750 milliliters of Beaujolais Nouveau wine in a plastic bottle for 890 yen, three days after rival Aeon Co. said it will offer the same product for 980 yen. "We hope even customers who are tightening their budgets will drink a lot of our wine because it's cheap," said a Seiyu official. (c) 2009 Kyodo News International, Inc. |