Wed, Dec 05, 2012 - Page 15 News List

World Business Quick Take



iPhone 5 launch dates issued

Apple announced that the latest version of the iPhone will be released in South Korea on Friday and in more than 50 other countries including Taiwan, Russia and Brazil later in the month.

The news indicated that the California-based company was on track to make the iPhone 5 available in 100 countries by the end of the year, despite being hard pressed to meet demand where the handsets are being sold. Apple last week unveiled plans to sell the iPad Mini and fourth-generation iPad in China starting on Friday, and the iPhone 5 will be available on Dec. 14, Apple said in a statement.


Miner reports budget drop

Brazil’s mining giant Vale on Monday announced a 24 percent drop in its investment budget for next year to US$16.3 billion, anticipating “a moderate expansion” of global demand in the sector. The world’s top iron ore producer said its board of directors approved capital expenditures of US$10.1 billion for project execution, US$5.1 billion for existing operations and US$1.1 billion for research and development. Capital and research and development expenditures for this year were estimated to reach US$17.5 billion, down from the US$18 billion for last year. In October, Vale reported a third-quarter net profit of US$1.66 billion, down from US$4.935 billion during the same period last year and US$2.66 billion in the second quarter of last year.


Agency to set up airline

One of Japan’s biggest travel agencies said yesterday it would set up a charter airline based in Bangkok as demand for air travel in Asia soars. H.I.S. said its Asia Pacific Airlines would begin operating flights in the summer, connecting Bangkok to locations across East Asia, including China, Japan and South Korea, a company official said. The carrier would initially operate two 767 mid-sized planes before expanding its fleet to 10 aircraft within several years, it said.


Adobe releases free toolkit

Adobe late on Monday released a free toolkit to make it easier for developers to create Flash-based games to ride the growing wave of playing on smartphones, tablets, and in Internet browsers. Game Developers Tools made available were the first tied to Adobe’s “Creative Cloud,” providing computing muscle from Adobe’s online datacenters. Flash-based games can be found among the top titles at social network Facebook as well as those popular for play using personal computer browsers.


Firm slams Reuters reports

Japan’s Universal Entertainment Corp yesterday accused Reuters of “misrecognition of the facts” in publishing stories about millions of dollars in payments from Universal to an ex-consultant to the Philippine gaming authority. The stories, published on Nov. 16 and on Friday last week, detailed a series of payments made to Rodolfo Soriano, a close associate of the former head of the gaming authority, between January and May of 2010 when Universal was lobbying for concessions for a casino resort on Manila Bay. Soriano is now at the center of a Philippine bribery investigation. The story published on Friday said Universal channeled at least US$30 million to companies controlled by Soriano, citing company records and people with knowledge of the transactions and related investigations.

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