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World Business Quick Take

■ Trade
Canada complains to China
Canada joined a chorus of trade complaints against China on Thursday, accusing it of unfairly blocking foreign-made auto parts, officials said. Following similar requests by the US and the EU, Canada asked for WTO consultations on China's treatment of imported auto parts. "We are seeking clarification from China on its current auto-part import regime, which we believe contravenes a number of the country's international trade obligations," Trade Minister David Emerson said in a statement. China imported an average C$256 million (US$222 million) annually between 2003 and last year, according to officials. Since April last year imported auto parts for use in the assembly of complete vehicles are, in some cases, being assessed at higher rates than expected under China's WTO tariff schedule, Emerson said.

■ Pharmaceuticals
Bayer raises Schering offer
Bayer AG on Thursday made its official takeover bid for Schering AG, offering 16.5 billion euros (US$20.01 billion) -- slightly more than the 16.3 billion euros that Schering's board had recommended for acceptance. Bayer said it made a final takeover offer of 86 euros per share. The increase over the previous offer came because Schering had issued shares from its own shareholding for fulfillment of employee options, Bayer said in a statement. The planned merger of Schering AG and the Bayer pharmaceuticals division will create a new international heavyweight in pharmaceutical specialty products. It is also expected to result in the loss of some 6,000 jobs. The new firm will be named Bayer-Schering Pharmaceuticals and have its headquarters in Berlin.

■ Film
New LCD film plant planned
Konica Minolta Holdings Inc, which is pulling out of cameras to focus on office equipment, plans to raise production of film used in liquid-crystal displays by 40 percent as demand for larger TV sets rises. Konica Minolta plans to invest ¥14 billion (US$118 million) to build its fifth factory in Kobe to start in the autumn of next year, spokesman Katsuyuki Sakai said, responding to an earlier Nihon Keizai report. The new line will expand output to 170 million square meters of film a year. Tokyo-based Konica Minolta joins bigger rival Fuji Photo Film Co in expanding production of film used in flat-panel displays. Fuji Photo, which has 80 percent of the global market for the material, said on April 3 that it will raise its investments on production by 10 percent to ¥110 billion. "Demand is very strong as consumer electronics makers are shifting to larger panels," Sakai said.

■ Software
Outsourcing boosts Infosys
India's second-largest software exporter, Infosys Technologies, said yesterday its full-year net profit jumped 30.2 percent thanks to an outsourcing boom. Net profit for the financial year to last month rose to 24.6 billion rupees (US$546 million) from 18.9 billion rupees, according to figures compiled using Indian accounting norms. Total revenues increased 33.5 percent to 95.2 billion rupees, Infosys said in a statement. "It took us 23 years to reach the first billion dollars in revenues while we reached the next billion dollars in 23 months," chief executive officer Nandan Nilekani said. The firm forecast revenue growth of 29 to 31 percent in the current fiscal year with earnings per share growth of 26 to 28 percent.

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