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Fri, Oct 17, 2008 - Page 10 News List

World Business Quick Take

AGENCIES

■ AVIATION

Mitsubishi eyes Americas

Mitsubishi Heavy Industries said yesterday it would launch a sales drive for Japan’s first passenger jet in the Americas next month, hoping for a share of a large but crowded market for regional airliners. Mitsubishi is expected to face tough competition from established makers of similar jets in the region, including Canada’s Bombardier and Brazil’s Embraer. Mitsubishi’s aircraft division said it would put US$700,000 in the Texas-based sales subsidiary.

■ FINANCE

PRC fund pulls investment

China’s sovereign wealth investment company said it redeemed its investments from a US money market fund hit by soured debt before the fund suspended withdrawals last month. China Investment Corp’s (CIC, 中國投資公司) investment, through an affiliate called Stable Investment Corp, is not subject to the potential 3 percent losses the Reserve Primary Fund incurred through its investments in Lehman Brothers, CIC said in a statement yesterday on its Web site. “The fund has confirmed through written documents that it will pay back both principal and interest of our investment,” the CIC statement said.

■ ENERGY

Shoes generate electricity

Telecoms giant NTT is developing shoes that generate electricity as you walk. The shoes have a small generator attached to water-filled soles. Each step puts pressure on the soles, causing the water to spin a small turbine and generate power, NTT said. The futuristic shoes generate 1.2 watts of electricity, “a level sufficient to run an iPod mobile music player forever, as long as the wearer keeps walking,” spokesman Hideomi Tenma said. “The company is trying to improve the power-generating capacity to 3 watts, which is the amount of electricity to power a mobile phone,” he said.

■ TELECOMS

Singapore addicted to SMS

Phone users in Singapore and Kuala Lumpur are Asia’s most enthusiastic senders of text messages, a survey released yesterday showed. More than 97 percent of cellphone users in Singapore sent text messages in the past month, followed by 96 percent of people in Kuala Lumpur and 94 percent of people in Seoul, the survey found. The region’s lowest rates of text messaging were found in Hong Kong, at 85 percent, and Bangkok, at 69 percent, it said. The survey was conducted by market research firm Synovate.

■ INTERNET

Google gets royal visit

Google added a picture of Queen Elizabeth to the logo on its British homepage yesterday to mark her visit to its London offices. The image, known as a Google Doodle, showed the queen in profile and a crown above the letter E of Google. The queen and the Duke of Edinburgh were to tour Googel’s British headquarters, a short walk from Buckingham Palace in central London.

■ BEVERAGES

Coca-Cola profits leap

US soft-drink giant Coca-Cola reported better than expected third-quarter profits on Wednesday, which it attributed to international sales that gained an extra lift from the Beijing Olympics and a weak US dollar. Third-quarter net profit leapt 14 percent to US$1.89 billion. Earnings per share of US$0.83 were 17 percent higher year-on-year. Most analysts had forecast earnings per share of US$0.77.

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