Sat, Mar 10, 2012 - Page 10 News List

World Business Quick Take

Agencies

GERMANY

Exports return to growth

Exports increased by 2.3 percent in January from the previous month — returning to growth after a sharp decline at the end of last year. The Federal Statistical Office said yesterday that the nation, Europe’s biggest economy, exported goods and services worth 85.9 billion euros (US$113.4 billion) in January. The month-on-month gain followed a 4.4 percent drop in December last year. Imports in January were up 2.4 percent at 72.8 billion euros following a 3.9 percent fall in December.

CRIME

Siemens, Greece reach deal

German electronics giant Siemens and Greece have reached a 270 million euro deal to end a decade-old bribery scandal, the Greek Ministry of Finance said on Thursday. Siemens will hand over 90 million euros to the Greek government to help it fight corruption and 80 million euros to help it pay off debts. In addition, the German group promised to “invest 100 million euros in Greece in 2012,” and “examine the possibility of setting up a 60 million euro production plant” in the country, the ministry said.

PATENTS

Apple patent case rejected

Apple Inc lost a bid to file a patent-infringement complaint against Eastman Kodak Co and restart litigation over ownership of a patent that Kodak intends to sell while in bankruptcy. US bankruptcy Judge Allan Gropper in Manhattan on Thursday denied Apple’s request to file a complaint with the International Trade Commission and attempt to unfreeze a patent lawsuit pending between the companies. The patents cover technologies used in printers, digital cameras and digital picture frames, Apple said.

AVIATION

Qantas, Malaysia deal fails

Qantas Airways said it had failed to strike a deal with Malaysia Airlines as part of its plans to set up a new premium airline in Asia. The Australian flagship carrier said in a statement yesterday that it was unable to reach mutually agreeable commercial terms on a partnership with Kuala Lumpur-based Malaysia Airlines. Qantas chief executive Alan Joyce said Asia remains a priority for the airline. He announced last month that Qantas had started discussions with existing and potential partners about a new, Asia-based premium carrier.

ELECTRONICS

TI reduces Q1 sales forecast

Texas Instruments Inc (TI), the world’s largest maker of analog semiconductors, reduced its first-quarter sales and profit forecasts, citing lower demand for products that let wireless devices connect and run applications. Revenue would be between US$2.99 billion and US$3.11 billion, the company said in a statement on Thursday. Analysts on average had estimated US$3.16 billion, according to data compiled by Bloomberg. Net income would be between US$0.15 and US$0.19 a share, Texas Instruments said, compared with a projection of US$0.21.

BANKING

ABN Amro profits fall

ABN Amro NV, the state-owned Dutch bank, said yesterday that its “underlying” profit fell by 11 percent last year as the Netherlands’ economy fell into recession and the bank wrote down the value of its holdings of bonds insured by the Greek government. Underlying profit — a nonstandard figure — was 960 million euros. Net profit was 665 million euros, from a loss of 417 million euros last year, with large one-time charges and gains distorting figures in both years.

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