Telkom Indonesia TLKM

Telkom Indonesia (TLKM.JK) rose 4.88 percent to itshighest since May 23, and second-largest PT Indosat Tbk(ISAT.JK) edged up 5.77 percent ($1=34.05) (Editing by Alan Raybould). [nJAK517390] Vietnam .VNI also gained, ending 0.38 percent higher. Blue chips in Singapore led the decline, with Capitaland(CATL.SI), Southeast Asia's largest property developer, falling0.55 percent, DBS Group Holding (DBSM.SI) down 0.52 percent,and United Overseas Bank (UOBH.SI) 1.66 percent lower. But Indonesian stocks .JKSE recovered from a 1.3 percentfall to end up 0.46 percent after the central bank cut its keyrate by 25 basis points to a record low of 6.75 percent andsaid it expected economic growth to reach the upper end of its3-4 percent forecast range this year. Singapore's Straits Times Index .FTSTI dropped 0.91percent to its lowest in more than a week, Thai shares .SETIclosed down 0.5 percent at a one-week low and Malaysia's index.KLSE fell 0.56 percent The Philippine index .PSI slipped0.27 percent. It had fallen nearly 4 percent theprevious session, under pressure from a stronger dollar as wellas concern about the outlook for the economy and energy demand.[nSYD475678] The MSCI index of Asia-Pacific shares outside Japan.MIAPJ0000PUS was down 0.06 percent at 0906 GMT. crude for August delivery CLc1 slipped 30 cents to$66.43 a barrel by 0902 GMT.

dataraises doubt about the speed of the global economic recovery.The slow pace of the recovery also hits commodity prices, sooil-related shares have largely gone down," said PichaiLertsupongkij, head of sales at Thanachart Securities U.S. Stock markets declined across Asia following a 2.63 percentslump on Wall Street as a steeper-than-expected slide in U.S.June non-farm payrolls revived caution about the prospect foreconomic recovery. [nN02297873] "Sentiment is quite bleak as the weakness in U.S. * Weak U.S. job data prompts selling in major markets * Indonesia bucks the trend, helped by rate cut * Singapore, Thailand, Malaysia drop to one-week low By Arada Therdthammakun BANGKOK, July 3 (Reuters) - Major Southeast Asian stockmarkets fell to their lowest level in a week on Friday afterlosses on Wall Street following grim U.S. unemployment data,but Indonesia managed to end higher after an interest rate cut. "We expect the very difficult market conditions to continuethroughout this financial year," outgoing chairman RichardBurrows told the company's annual shareholders' meeting.

"(But) With the support of the Irish government, we areconfident that we will emerge from this recession as a vibrantfinancial services company."(Reporting by Carmel Crimmins; editing by Andras Gergely). DUBLIN, July 3 (Reuters) - Bank of Ireland (BKIR.I) expectslower levels of business activity and a difficult period ahead,it said on Friday. ISTANBUL, July 3 (Reuters) - Turkish porcelain producerKutahya: * Says is in consortium to buy German porcelain makerRosenthal Turkey Turkey. AMSTERDAM (Reuters Life!) - Amsterdam city council is turning its attention to a pressing problem for one of the city's key business sectors -- banking and credit for prostitutes who can't get accounts from mainstream institutions. (Writing by Ramthan Hussain; additional reporting by MurielBoselli in Paris; Editing by Anthony Barker). Iswaran said EMA has concluded discussions with BG on anaggregator agreement, which sets out the pricing details andother terms and conditions for the supply of LNG to Singapore.The terminal, which will be built on Jurong island, has thepotential to be expanded to 6 million tonnes per year. The EMA awarded BG Group (BG.L) in April 2008 an exclusiveright to import LNG and sell regasified LNG in Singapore.

The LNG terminal is the latest Singapore project to bedelayed due to the financial crisis. Last month, Jurong Aromatics Corp (JAC) said it had pushedback the start-up of a $2.4 billion aromatics project untilearly 2013 from 2011, as it struggles to obtain funding, butdismissed speculation it would suspend or scrap the project.[ID:nSP477329] Just before that, the city-state cancelled the operationaltender for the rock cavern oil storage project and would onlyre-issue it three years later, adding to the list of projectdelays worldwide due to poor economic conditions.[ID:nSP124882] [ID:nSIN466009] PowerGas, a wholly owned unit of Singapore Power, wasappointed in 2007 to jointly build and operate the terminalwith French-utility GDF Suez (GSZ.PA). "It was not the right time to move on with it," an industrysource said. "The government saw this project as a priority oneand decided to go ahead with it despite the profitabilityissues," he said adding the decision was not a surprise.

Industry sources confirmed the PowerGas-led consortium hadslowed down the project due to the downturn. The Energy Market Authority (EMA) will form the SingaporeLNG Corporation for this purpose, and "the aim is to ensurethat the terminal is completed and operational by 2013,notwithstanding the present uncertainties in the market",Iswaran said. GDF Suez confirmed the consortium had dropped the projectbut declined to comment further. "The government has decided to take over the ownership anddevelopment of the LNG terminal in Singapore," he said. It has, therefore, becomesignificantly more challenging for PowerGas to proceed withthis project on a commercial basis as originally intended,"senior minister of state for trade and industry S Iswaran toldan LNG conference.