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World Business Quick Take

■ SOFTWARE
Microsoft, Vietnam ink deal
US software giant Microsoft yesterday signed an agreement with a Vietnam government ministry to use only licensed programs in a bid to reduce rampant software piracy in the communist country. Microsoft chief executive Steve Ballmer met Prime Minister Nguyen Tan Dung on a one-day visit during which both witnessed the signing of the agreement to use genuine Microsoft Office software in the post and telematics ministry.

■ TECHNOLOGY
NEC back in the black
Japanese high-tech giant NEC Corp said yesterday it returned to the black in the past year and expected net profit will more than triple this year as its IT business recovers. NEC reported net profit for the year to March at ¥9.1 billion (US$247 million), reversing a loss of ¥10.1 billion the previous fiscal year. Current profit rose 9.3 percent to ¥16.35 billion despite a 5.6 percent decline in sales at ¥4.65 trillion. For the current year, NEC forecast its net profit will rise to ¥30 billion on sales of ¥4.7 trillion.

■ ECONOMY
Growth forecast raised
Singapore revised upwards its economic growth forecast for this year yesterday after a strong 6.1 percent first-quarter expansion. Financial services and construction led the gains in GDP during the first three months, the Ministry of Trade and Industry said. The 6.1 percent year-on-year growth figure for GDP, the value of all goods and services produced in the country, was slightly ahead of the preliminary 6.0 percent estimate. "The Singapore economy started on a strong note," the ministry said, raising its 2007 GDP growth forecast to between 5.0 percent and 7.0 percent from between 4.5 percent and 6.5 percent.

■ MEDIA
Key APN investors pan bid
Two key shareholders in Australia's APN News and Media PLC said yesterday they would vote against a A$2.8 billion (US$2.3 billion) private equity bid led by Irish billionaire Tony O'Reilly's Independent News and Media PLC (INM). If rejected, the INM-led consortium, which includes the Carlyle Group LP and media specialist Providence Equity Partners, will join a growing list of private equity bidders thwarted by unimpressed Australian shareholders. In a statement to the Australian Stock Exchange, Sydney-based Perpetual Investments, which has nearly 15 percent of APN shares, said it would to reject INM's A$6.20 a share offer, without giving a reason. Perpetual fund manager John Sevior said earlier this year that a previous A$6.10 a share offer was inadequate.

■ AVIATION
Russia mulls EADS stake
Russia could raise its stake in struggling aerospace conglomerate European Aeronautic Defence & Space Co (EADS) if a deal is struck to make Airbus jet parts locally, a senior aide to President Vladimir Putin said yesterday, according to Russian news agencies. Arkady Dvorkovich said that Russia could increase its 5 percent stake ``only ... if United Aircraft Corp and EADS agree to cooperate on aircraft manufacturing,'' RIA-Novosti quoted him as saying, referring to Russia's state-controlled aircraft manufacturing monopoly. Dvorkovich said the construction of components for Airbus aircraft or an exchange of assets between the two companies was possible, the agency said.


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