Michelle Guthrie to exit Star
New Delhi: Michelle Guthrie, chief executive officer at Star's Hong Kong office, has resigned. The announcement was made by Star in Hong Kong today.

Paul Aiello, 42, president of Star, will succeed Guthrie. Aiello joined Star about six months ago from Morgan Stanley where he was looking after telecom, media and technology group in the Asia Pacific region.

Guthrie said she's had an "incredible six years at Star". She had replaced Rupert Murdoch's younger son James Murdoch as the CEO in November 2003.

The management changes at the Hong Kong office is expected to have repercussions in India as well where Star's India CEO Sameer Nair is already said to have put in his papers.
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China, ASEAN seen heading towards FTA
Cebu: China has signed a new trade agreement on services with the Association of Southeast Asian Nations here. Delegates called the trade in services deal, which emphasizes high-technology, energy and construction, a major step toward establishing a comprehensive free trade pact between Asean and China.

China and Asean began lowering barriers to trade in 2005. Since then, tariffs on more than 7,000 products from China and Asean have been lowered. Two-way trade volume last year amounted to more than $160 billion, up 23 percent from 2005.

The leaders of Japan, Australia, India and New Zealand were also scheduled to hold meetings with Asean leaders on Sunday, with most of the discussion centering on improving free trade.
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