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Wed, Oct 01, 2003 - Page 12 News List

World Business Quick Take

AGENCIES

■ DisplaysSamsung set to splash out

Samsung Electronics Co, the world's largest maker of liquid-crystal displays (LCD), plans to spend 452.7 billion won (US$394 million) to increase LCD production, the company said in a release to the Korea Stock Exchange. The company will disclose how much of the amount is an increase to this year's total spending budget and how much will be spent next year during its third-quarter earnings announcement on Oct. 17, said Kevin Jeong, a company spokesman. Samsung said it will spend the money on its No. 6 production line located in Chonan, south of Seoul. The money will be used to raise output at the line to 100,000 sheets a month. The plant produces screens made of sheets of semiconductor-coated glass that measure 1.1m by 1.3m.

■ Employment

Women beat men to jobs

Women are more likely than men to work as managers in white-collar professions, a new study says, a significant change since similar research was done in the US 25 years ago. Thirty-nine percent of American women -- compared to 28 percent of men -- held managerial jobs in professions including law and medicine, according to the survey by the New York-based Families and Work Institute. In similar research done in 1977 by the US Department of Labor, only 24 percent of women held managerial jobs. The figure has remained relatively steady for men over the same period of time, at about 30 percent. "The occupational profile of women has changed to reflect the fact that their education level is higher than that of men," said Ellen Galinsky, president of the not-for-profit institute.

■ Employment

Japan's jobless rate falls

Japan's jobless rate fell to a two-year-low of 5.1 per cent in August, down from July's 5.3 per cent, the government announced yesterday. The number of unemployed totalled 3.33 million, down 280,000 from a year earlier. It was the third straight monthly decline, the government said. The ratio of job offers to job seekers was 0.63 in August up from the previous month's 0.62, meaning 63 jobs were available for every 100 job seekers. In a separate report, the government said spending by Japanese wage-earning households rose a real 2.2 per cent in August from the previous year, biggest gain in two decades. Wage-earning households spent an average of ?328,498 (US$2,959) per month in August. Household spending is a key gauge of personal consumption, which accounts for about 60 percent of Japan's gross domestic product.

■ Communications

China boom hinders Russia

Northern China's communications boom threatens the communi-cations industry in neigh-boring Russian regions, a senior official here said yesterday. "The Chinese companies' signals fill up the airwaves in the border areas and interfere with Russian mobile operators' grid," deputy presidential representative in Russia's Far East Alexander Drozdov told a seminar. The communi-cations industry is already slumped in the poverty-stricken region, where only 28 to 40 percent have regular telephones and less than one percent use mobile phones, Drozdov said. In addition, "Chinese radio and television, which are broadcast on Russia's border regions, run programs and ads in Russian, thus stripping local media of clients," he added. "We must negotiate and find compromises in this case with our Chinese partners," Drozdov urged.

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