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Fri, Dec 23, 2005 - Page 12 News List

World Business Quick Take

AGENCIES

■ Telecoms
KDDI in mobile TV venture

KDDI, Japan's second-largest telecommunications firm, said yesterday it will team up with US wireless company Qualcomm with the aim of launching a television broadcast service here for mobile phones. The joint venture will be established on Tuesday. KDDI will hold an 80 percent stake with the balance owned by the Japanese unit of Qualcomm. KDDI did not say when the joint venture plans to launch the service.

■ Agriculture

US to promote beef in Japan

US producers expect to export 100,000 tonnes of beef to Japan next year, just a third of what they sold before a 2003 ban on imports due to the mad cow scare, the head of the US Meat Export Federation said yesterday. "I hope I'm wrong, I hope it's more than that," Philip Seng said in Tokyo while unveiling plans for a public relations blitz to win back wary Japanese consumers. Seng said it would be at least three years before US exporters reach the 2003 level of about 300,000 tonnes of beef sold in Japan.

■ Auto industry

Volvo shuts China venture

Swedish industrial vehicles company Volvo has closed one joint venture in China and another is set to suffer a similar fate due to huge operating losses, state press reported yesterday. Volvo's engine joint venture with China's First Automotive Works Corp was shut two months ago after accumulating large losses, the Shanghai Securities News reported. All three of Volvo's joint ventures in China have suffered significant losses in China's competitive market that is suffering from a major production glut. The report did not provide any loss-making figures.

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