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Fri, Feb 24, 2006 - Page 12 News List

World Business

AGENCIES

■ Electronics
Plasma TV shipments soar

Global plasma display television shipments more than doubled to a record 2.27 million units in the quarter ended Dec. 31, led by demand in Europe, a market researcher said. Shipments worldwide in the October to December period rose 109 percent from a year earlier, and 44 percent from the previous quarter, DisplaySearch said in a Feb. 22 statement, as Matsushita Electric Industrial Co, LG Electronics Inc and other manufacturers ramped up production. Matsushita held its spot as the world's biggest maker, with a 26 percent global share, the report said.

■ Trade

EU likely to impose duties

The EU was set yesterday to propose protective duties on imports of shoes from China and Vietnam after finding evidence that the Asian nations are unfairly dumping footwear on European markets. European Trade Commissioner Peter Mandelson was expected to put forward tariffs of up to 20 percent on shoe imports. The penalties could begin in April if approved by EU governments.

■ Hotels

Starwood in Macau deal

US casino operator Las Vegas Sands Corp announced yesterday that luxury hotelier Starwood has agreed to operate two Sands hotels in a massive casino complex it is building in the Chinese gaming enclave of Macau. The companies said in a statement that they "have entered into a nonbinding letter of intent" and expect to finalize the deal before the end of the second quarter this year. Starwood Hotels & Resorts Worldwide Inc will operate a new 1,200-room Sheraton hotel and a new 300-room St. Regis hotel in the Cotai area, touted by Las Vegas Sands as Macau's version of the Las Vegas Strip.

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