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World Business Quick Take

■ FOREX
Wu to meet US lawmakers
China is expected to confront head-on with the US Congress on the thorny issue of Beijing's undervalued currency, which US lawmakers complain is hurting the US economy. Tough-talking Chinese Vice Premier Wu Yi (吳儀) is to meet with key congressional panels during her visit to Washington this month for a "strategic economic dialogue" launched by the two powers in December, US Secretary of the Treasury Henry Paulson said. He said Wu's meetings with the lawmakers "can make a real difference" in helping address the currency issue, a key component of increasing US trade concerns with China that had seen Beijing being dragged to the WTO by Washington on various fronts.

■ TELECOMS
Motorola tries to stop Icahn
Motorola Inc said Carl Icahn lacks the commitment and seriousness needed to join its board of directors, escalating a campaign against the billionaire investor's bid to be one of the company's directors. Icahn views board membership as a "mere adjunct to his investing activity," Motorola said in a letter to investors on Wednesday. Shareholders of the company will vote on Icahn's board nomination at their annual meeting on Monday. "We will not allow Carl Icahn to use Motorola as his self-serving platform," the company said in the letter. Icahn controls 2.9 percent of the company's stock.

■ SEMICONDUCTORS
TI picks Philippines again
US semiconductor company Texas Instruments (TI) Inc said yesterday it plans to invest about US$1 billion over 10 years in a new test and assembly facility in the Philippines. The new facility, Texas Instruments' second in the country, will be located on a 7.7 hectare site in Clark Freeport Zone, a former US Air Force base northwest of Manila. Construction will start in the second half of this year and initial production will begin later next year, officials said. The new investment will generate 3,000 jobs and boost Philippine electronics exports, which account for two-thirds of country's goods shipment, officials said.

■ INTERNET
Google opens Asian office
Google Inc said yesterday it has established a Southeast Asian office in Singapore to promote regional sales. The office will serve the company's advertisers and customers in the region, said Richard Kimber, Google Southeast Asia's managing director of sales and operations, at a briefing. Google did not say how much it was investing in the office. Kimber said Google intended to set up a research and engineering center in Singapore, which could open by the end of this year.

■ INTERNET
Yahoo expands service
Yahoo yesterday launched a Web-based version of its free instant messaging service for Internet users who want to stay connected while away from their home computers. Yahoo Messenger for the Web lets people use the online search titan's service from any Internet-linked computer without needing to download or install software, as was the case previously. The service is tailored for use by travelers, workers whose employers block software downloads to company machines, cyber-cafe dwellers and people who simply cannot afford their own computers. The service is initially launching in Brazil, India, Malaysia, the Philippines, Vietnam and the US.


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