Dreamliner arrives in Japan
Boeing Co’s 787 landed in Japan early yesterday to start a week-long dress rehearsal with All Nippon Airways Co (ANA), signaling the end is near to a delay of more than three years for the world’s first composite-plastic jet. The Dreamliner, which landed at Tokyo’s Haneda airport, will make test flights on ANA’s normal domestic routes. The exercises will ensure the plane fits into airport parking slots and can use boarding bridges and fuel hoses, airline spokeswoman Megumi Tezuka said. The trip is one of the final validations ahead of the 787’s entry into service as early as next month. Boeing missed the original May 2008 delivery target, stalling its ability to book profit from a model with an average list price of US$202 million and forcing customers to reshuffle their plans.
General strike held
A citizens’ group enforced a six-hour general strike in Dhaka yesterday, partially disrupting businesses and transportation, to demand that the government cancel a gas exploration deal with US energy giant ConocoPhillips. Last month, the government signed a production-sharing contract with the company to explore for gas in deep waters of the Bay of Bengal, but the National Committee on Protection of Oil, Gas and Mineral Resources, Power and Ports, says the agreement compromises the national interest. The country currently faces up to 780 million cubic meters of gas shortages each day.
Growth target is ‘difficult’
The economic growth target for this year will be “difficult” to achieve, Vice Premier Wang Qishan (王岐山) said in a statement on the government’s Web site yesterday. It is hard to balance the economy and inflation “given complications and uncertainty in the global situation,” Wang told a conference in Hebei Province early this month, the statement said.
Fosters rejects takeover bid
The head of Australian beer giant Foster’s yesterday said he was not talking with SABMiller about their recent takeover bid, insisting his focus was on improving the business. Foster’s last month rejected an unsolicited A$9.51 billion (US$10 billion) offer from the international brewer, saying it undervalued the company, and chief executive John Pollaers said he was not engaged in further talks. “Our focus right now is just, fundamentally, turning this business around and making sure we realize the full potential of it,” he told ABC television’s Inside Business show. At the time of the offer, SABMiller said the proposal to buy Foster’s was in line with its strategy to create a global spread of businesses and it would continue to pursue discussions.
Chinese sales could pick up
Automobile sales growth may recover in the second half of the year after a slowdown in the first six months, Xinhua news agency said, citing the deputy head of China Association of Automobile Manufacturers Dong Yang (董揚). Auto consumption could rise from this month to December as liquidity is expected to ease, boosting consumer demand for mid and high-end passenger cars, Xinhua said, quoting Dong. A drop in oil prices and subsidies for -alternative--energy vehicles could also help to boost sales, it said. The rate of vehicle sales growth in the first half will be slower than the 4.2 percent increase during the first five months, Xinhua said, citing the auto association.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
‘ONE-STOCK SHOW’: Turnover hit an all-time high as TSMC continued to determine the local market’s direction and surpassed Visa in market capitalization The TAIEX early yesterday hit an all-time intraday high on the back of soaring Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares, before tumbling back to the previous day’s close as the contract chipmaker could not single-handedly prop up the index. The TAIEX rose more than 400 points in the first 20 minutes of trading to hit a record 13,031.7 points, but later pared its gains to close down 0.01 percent at 12,586.73. Turnover was NT$343.252 billion (US$11.63 billion), the highest in the Taiwan Stock Exchange’s history. TSMC continued to dictate the market’s direction, as its early surge by the daily