Insurers demand answers as investigation of Chinese rocket begins

Article Abstract:

Insurance firms have called on Chinese authorities and Hughes Space and Communications Co. to give an honest assessment of why launches involving China's Long March 2E rocket and the Hughes HS-601 satellite have proven to be particularly susceptible to failure. Insurers admit that satellite launching has an inherently high degree of risk but they stress that the Hughes-Long March combination has suffered an unusually high 50% failure rate. Chinese authorities have repeatedly blamed the US-made satellite for the failures, a claim which many foreign experts dismiss in view of the HS-601's good performance on other launch vehicles. These experts are more inclined to believe that a flaw in the Long March 2E design is the cause of the failures.

Guided missiles and space vehicles, Communications Satellites, Guided Missile and Space Vehicle Manufacturing, Space propulsion units and parts, Guided Missile and Space Vehicle Propulsion Unit and Propulsion Unit Parts Manufacturing, Separation Rockets, Product defects and recalls, Artificial satellites, Satellite launching, Long March (Rocket)

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Corporate woes seem to spread through financial system: government takes over operations at finance concern and plans to keep an eye on markets

Article Abstract:

Taiwan's Finance Ministry disclosed that a group of government-controlled banks will take over operations for a maximum of six months at the ailing Central Bills Finance Co, which failed to cover $22 mil in checks. Following the disclosure, the island's primary stock market index fell 2.3%. The government reported that it will create a task force to monitor Taiwan's markets and search for means to grant credit to ailing companies.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Financial Regulation & Reporting, Taiwan, Economic policy, Financial disclosure, Central Bills Finance

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Dogfight mood permeates Thai insurance market

Article Abstract:

Thailand's insurance market is becoming increasingly competitive as more foreign and domestic insurers start operations. American International Assurance Co., the country's dominant carrier, has found itself confronted by more than a dozen new rivals who not only try lure away its customers but pirate its employees as well. Several of Thailand's biggest companies have also expressed interest in establishing insurance operations.

Industry Overview, Thailand

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