■ Free trade
Macau, China expand pact
Macau and China have expanded a free trade agreement, stripping tariffs off 190 types of Macau goods, while increasing preferential access to industries in China. The new tariff-free products range from chemicals to clothing, the Macau government said in a statement posted on its Web site late Friday. The removal of tariffs takes effect on Jan. 1 next year. China also opened up airport operation, information technology and job referral services, while further improving access for Macau companies in 11 sectors where they already enjoy preferential treatment. The original trade deal eliminated tariffs on 273 Macau goods and opened up 18 sectors.
■ Internet
Malaysia pushing broadband
Malaysia might open its broadband services industry to foreign companies if domestic operators continue to lag behind in wiring up more homes, a newspaper reported yesterday. Communications Minister Lim Keng Yaik said the government was unhappy that only 1 percent of Malaysian households have broadband services, The Star daily reported. "We are considering several measures to increase the broadband penetration rate and they include opening up the industry to foreign players," Lim was quoted as saying. "People in other countries have gone far ahead of us ... what's wrong with us?" He said the low number of broadband users had hindered development programs, but gave no details, the report said. The government has targeted a 5 percent to 6 percent increase in the number of broadband users in this country of 25 million people by 2008.
■ Energy
Russian gas giant approved
Directors at Russian natural gas giant Gazprom approved the creation of an oil holding company on Friday, setting the stage for the creation of a state-controlled oil and gas giant and cementing the government's influence in the politically important oil sector. The decision by the company's board to set up Gazpromneft paves the way for state oil companies Rosneft and Zarubezhneft to be rolled into the new company together with Gazprom's existing oil assets. The Gazprom-Rosneft merger is intended to increase the Russian government's 39.3 percent share in Gazprom to a controlling stake -- a prerequisite to loosening foreign ownership limits on Gazprom shares, which are coveted by foreign investors.
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