VOA标准英语2008年-Strong Yen, Weak US Auto Sales Lead to Profit F

By Claudia Blume
Hong Kong
12 May 2008

A strong yen¹ and a slow U.S. auto² market are to blame for Japanese automaker Toyota's profit drop in the first quarter, and Malaysia's Maybank will buy a stake in a Pakistani lender. Claudia Blume has more on these and other business stories in our weekly summary of business news from Asia.

Japanese automaker Toyota posted a larger-than-expected 28 percent drop in net profit for the first quarter. Profit from January to March was $3 billion, down from $4.2 billion in the same period last year.

The profit drop was mainly caused by the stronger yen, weak auto sales in the United States and soaring commodity prices. President Katsuaki Watanabe warned that because of the adverse³ conditions, Toyota will see its annual profit drop this year, ending a seven-year string of record results.

"We are facing a very severe environment," he said. "But Toyota considers this a valuable opportunity to turn into a more flexible and stronger company."

One of Malaysia's leading lenders, Maybank, will buy up to 20 percent of Pakistan's MCB Bank. Maybank will pay close to $690 million for a 15 percent stake in Pakistan's fourth largest bank. It has the right to buy an additional five percent stake in the future.

The investment is part of Maybank's expansion drive, which includes buying stakes in Vietnamese and Indonesian banks.

In other news from Malaysia's banking⁴ sector⁵, the country's state pension fund will sell a 25 percent stake of banking group RHB Capital, which it controls, to Abu Dhabi Commercial Bank. The deal is worth about $1.2 billion. The acquisition will make Abu Dhabi Commercial Bank the second-largest shareholder⁶ in RHB Capital.

Surging food and energy prices have pushed inflation in the Philippines to a three-year high of 8.3 percent in April. The price of rice alone went up almost 25 percent from a year ago. The Philippines is one of the world's largest rice importers and has been hit hard by rising global prices.

Inflation is also a big worry in South Korea. To try to curb⁷ the problem, the Bank of Korea decided⁸ to keep interest rates unchanged at five percent for a ninth straight month.

As a result of rising food and energy costs, South Korea's inflation rate reached a four-year high of 4.1 percent in April. Adding to the concerns is South Korea's currency - the won, which has dropped more than 10 percent in value this year. That means imported goods, such as crude oil, are more expensive.

1 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

2 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

3 adverse   

adj.不利的；有害的；敌对的，不友好的

参考例句：

• He is adverse to going abroad.他反对出国。
• The improper use of medicine could lead to severe adverse reactions.用药不当会产生严重的不良反应。

4 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

5 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

6 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

7 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

8 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。