Vietnamese inflation slows
Vietnamese inflation slowed to its weakest pace in eight months this month, official data showed yesterday, in the latest sign that the economy is cooling. Consumer prices rose 6.36 percent year-on-year this month, the Government Statistics Office said, slightly down from a 6.61 percent increase last month. Hanoi cut interest rates this month for the eighth time in little more than a year to boost its economy, which fell to a 13-year low of 5.03 percent last year.
French business looking up
French manufacturers turned sharply brighter about their business prospects this month because activity was unexpectedly buoyant and orders were picking up, the latest figures from the national statistics institute INSEE showed yesterday. The index of manufacturing confidence rose by 4 points to 92 points this month from 88 points last month, INSEE figures showed. This took the level of confidence back up to the level of February, but fell short of 100 points, which has been the average since 1976.
ITC clears Xbox 360
The US International Trade Commission (ITC) sided with Microsoft on Thursday in a patent dispute with Google-owned Motorola Mobility that could have barred the imports of Xbox 360 videogame consoles. “The investigation is terminated,” the ITC said in a notice announcing it was rejecting a Motorola Mobility patent complaint dating back to late 2010. Motorola Mobility had argued that Xbox 360 consoles infringed on patent technology for wirelessly transmitting data.
Boeing 787 to fly in China
Chinese regulators have approved the Boeing 787 to fly in the country, a Boeing spokesman said on Thursday, a move that opens up a large potential market to the US aerospace giant. Chinese airlines have yet to take delivery of the 787 Dreamliner, which last month was cleared to return to service after all 50 in use worldwide were grounded in the middle of January following two overheated battery incidents. Air China (中國國際航空) has ordered 15 of the planes, while China Southern Airlines (中國南方航空) and Hainan Airlines (海南航空) have each ordered 10 planes.
Economy sound: Gillard
Australian Prime Minister Julia Gillard yesterday moved to allay fears about the economy, saying it had strong fundamentals, after US carmaker Ford said on Thursday it would stop making vehicles at its unprofitable Australian plants in 2016 and cut 1,200 jobs. Gillard told reporters the Australian economy was in transition as the investment boom in the mining and resources sector wound down, and there would be a loss of jobs as a result.
Yahoo buys PlayerScale
Yahoo pressed on with its shopping spree on Thursday with the acquisition of a startup that powers games played on smartphones, tablets, consoles or PCs. Yahoo confirmed in a statement on Thursday it has bought PlayerScale. Financial terms of the deal were not disclosed. The PlayerScale platform works behind the scenes to handle payments, multi-person play, online chat and other features woven into games played on a broad range of devices.
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
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
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
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