The government is considering implementing the "open skies"

The government is considering implementing the "open skies" concept with Indonesia, similar to Malaysia's recent agreement with Thailand, The Sun quoted Transport Minister Ling Liong Sik as saying.

South Korea's bankrupt Shinsung Tongsang Co. sold its Indonesian unit to PT Shinta Korintama of Indonesia for US$400 million, Hanvit Bank said Monday.

China's biggest two oil companies are in talks with Russian oil giant Yukos about joining hands to explore for oil and gas in Russia, it was reported Monday.

The multi-billion dollar sale of Sydney Airport has been deferred because of disruption to global financial markets in the aftermath of the US terrorist attacks, the government said Monday.

Hong Kong Financial Secretary Antony Leung said on Monday the government will cut its economic growth forecast for 2001 after the devastating attacks on the United States.

Korean Air (KAL), South Korea's largest carrier, said on Monday it would suspend or reduce services to some cities in the United States, Brazil, Europe and Asia until mid-December due to falling demand.

The Australian government said on Monday it would ban all beef imports from Japan to protect its disease-free status after tests confirmed the first case of mad cow disease near Tokyo.

Swiss airline Swissair said on Monday that it is to cut 3,000 jobs and 25 percent of its long-haul fleet as part of a three- year restructuring plan.

Taiwan's unemployment rate hit a record high 5.17 percent in August as factories closed, companies downsized and college graduates entered the job market, officials said Monday.