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Thu, Dec 02, 2004 - Page 12 News List

World Business Quick Take

AGENCIES

■ Telecoms

Siemens in China venture

German telecoms giant Siemens AG will set up a new US$100 million joint-venture with China's largest network equipment firm, Huawei Technologies Co (華為), state press said yesterday. The Beijing-based joint-venture, TD Tech, will produce next generation TD-SCDMA network equipment and mobile phones, the Beijing Times said. The venture will start rolling out equipment for the establishment of TD-SCDMA base stations by the middle of next year. TD-SCDMA is a third-generation (3G) telecommunication standard, jointly developed by Siemens and China's Datang Mobile.

■ Flat Panels

LG Philips plans 7G plant

LG Philips LCD said yester-day it would invest US$5 billion in new facilities to produce next-generation flat panel displays in order to strengthen its global market leadership. The company said it would invest 5.29 trillion won (US$5 billion) in building a "seventh generation" (7G) TFT-LCD fabrication plant in Paju, some 30km north of Seoul by early 2006. Pro-duction at the plant will start sometime in the first quarter of 2006, using 45,000 input sheets of "mother glass" every month that will gradually rise to 90,000 depending on market con-ditions. Each mother sheet can produce eight 42-inch TFT-LCDs or six 47-inch wide TFT-LCDs used pri-marily for flat panel TVs and large monitors.

■ Banking

Ex-bank executives nabbed

Three former executives of UFJ Holdings Inc's banking unit were arrested yester-day over allegations that the bank lied to authorities about bad debts. Kazuyoshi Okazaki, 51, Sen Hayakawa, 55, and Masa-yuki Inaba, 51, were arrested on suspicion of banking law violations, the Tokyo District Prosecu-tors Office said in a state-ment. The three lied, hid documents about corporate borrowers, and transferred thousands of electronic files between August and Octo-ber last year to try and obstruct an inspection by financial regulators into the bank's debts, the statement said. They are also accused of conspiring with other bank officials an effort to mislead the inspectors, it said. Prosecutors raided the bank's Tokyo headquarters yesterday and media reports say executives' homes were searched too.

■ Research

Fuji to build new center

The world's No. 2 film-maker Fuji Photo Film will invest roughly ?46 billion (US$446.6 million) to build a world-class basic tech-nology research center in Japan, a report said yester-day. By investing in basic research, Fuji hopes to bolster existing operations and accelerate development of new businesses that can supplement its mainstay photo film business, the Nihon Keizai Shimbun said. The six-story, 57,000m2 research facility is slated for completion in March 2006 at a site in Kaisei, Kanagawa Prefecture,the paper said.

■ Internet

Fighting back against spam

Internet users fed up with spam can go on the offen-sive by downloading a screensaver aimed at hitting junkmailers in the pocket, Net portal Lycos said on Monday. "Make Love Not Spam" from Lycos Europe requests data from Web sites that are mentioned in bulk mailings. If thousands of screensaver users sign up, the Web sites' servers will be running at nearly full tilt -- slowing the Web sites' response and hiking their bandwidth bills.

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