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.