Bank Pikko plans to merge with the publicly listed Bank Danpac in

Bank Pikko plans to merge with the publicly listed Bank Danpac in a bid to create a more efficient and stronger banking institution, according to the former's president Ary Karyono.

State-owned fertilizer company PT Pupuk Sriwijaya, also known as Pusri, plans to shed up to 1,300 workers from its 5,210-strong workforce as part of an efficiency program.

Japanese steelmaker Kobe Steel Ltd. said Friday it would cuts its workforce by 1,300 to cope with sluggish domestic demand and flagging steel prices.

The world's largest chip-maker Intel is to invest US$302 million in China to expand its chip packaging and testing plant in Shanghai, the company said Friday.

India is to get a US$240 million loan from the Asian Development Bank (ADB) to upgrade its national highway system, the multilateral lender said Friday.

Saigon Post and Telecommunications (Saigon Postel) said on Friday it received a license for a $230 million project to develop Vietnam's third mobile telephone network with a Singapore-based South Korean joint venture.

German insurance giant Allianz said Friday it expected claims arising from the terrorist attacks in the United States to be higher than expected and was therefore cutting its earnings forecast for this year.

China's leading oil company PetroChina will open 18 new areas for oil and gas exploration and development by foreign firms, state media said Friday.

Bank Pikko plans to merge with the publicly listed Bank Danpac in a bid to create a more efficient and stronger banking institution, according to the former's president Ary Karyono.

State-owned fertilizer company PT Pupuk Sriwijaya, also known as Pusri, plans to shed up to 1,300 workers from its 5,210-strong workforce as part of an efficiency program.

Japanese steelmaker Kobe Steel Ltd. said Friday it would cuts its workforce by 1,300 to cope with sluggish domestic demand and flagging steel prices.

The world's largest chip-maker Intel is to invest US$302 million in China to expand its chip packaging and testing plant in Shanghai, the company said Friday.

India is to get a US$240 million loan from the Asian Development Bank (ADB) to upgrade its national highway system, the multilateral lender said Friday.

Saigon Post and Telecommunications (Saigon Postel) said on Friday it received a license for a $230 million project to develop Vietnam's third mobile telephone network with a Singapore-based South Korean joint venture.

German insurance giant Allianz said Friday it expected claims arising from the terrorist attacks in the United States to be higher than expected and was therefore cutting its earnings forecast for this year.

China's leading oil company PetroChina will open 18 new areas for oil and gas exploration and development by foreign firms, state media said Friday.