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Fri, Apr 27, 2007 - Page 10 News List

World Business Quick Take

AGENCIES

■ CHIPMAKERS

South Korean probe ends

South Korea's antitrust watchdog said yesterday that it has decided to drop a probe into whether four global computer memory chip manufacturers violated the country's fair trade law, citing insufficient evidence. The Korea Fair Trade Commission said in a statement that it had investigated Samsung Electronics Co and Hynix Semiconductor Inc, as well as Micron Technology Inc and Infineon Technologies AG. The probe stemmed from a US Department of Justice investigation into price fixing in the US for DRAM chips from April 1999 until June 2002.

■ BANKING

IPO to raise big money

China's Bank of Communi-cations (交通銀行) has drawn a record 1.45 trillion yuan (US$188 billion) in bookings for its initial public offering in Shanghai, the official China Securities Journal said yesterday. The Shanghai-based bank is likely to set the offering price at 7.9 yuan per share for the sale next month of 3.19 billion A-shares, the journal said. That would put the share price at the top end of the previously announced 7 yuan to 7.9 yuan range.

■ AUTOMOBILES

Nissan profits fall 11%

Japan's Nissan Motor Co said yesterday that its net profits slumped by 11.1 percent in the year to last month, the first drop in annual earnings under legendary chief executive and one-time savior Carlos Ghosn. Nissan reported net profit of ¥460.80 billion (US$3.98 billion), down from ¥518.05 billion in the previous fiscal year. The company predicted a rebound in profits in the current fiscal year to next March, forecasting net profit of ¥480 billion but revenue is expected to fall to ¥10.3 trillion.

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