Mon, Nov 17, 2003 page12

• World Business Quick Take

  • AGENCIES
  • • 
    • 
    • 

  ■ Cameras
  Digital sales set to rise

  Asia Optical Co Inc, Eastman Kodak Co and Nokia Corp are among the companies that some analysts say will benefit from a rise in digital camera purchases even as competition squeezes profit, Barron's reported. Digital camera sales in the US are expected to surpass conventional cameras for the first time next year, selling 52 million units compared with 40 million, according to research firm iSuppli, Barron's reported. Camera prices will decline to US$250 on average next year from US$290 this year, iSuppli said. Asia Optical of Taiwan is one of several companies, including Premier Image Technology Corp, that is likely to get more business as bigger name makers such as Nikon Corp outsource manufacturing to reduce costs, Steve Werber, who runs the Seligman Global Technology fund, told Barron's.

  ■ Tariffs

  Japan mulls retaliation

  Japan may boost tariffs on coal, chemicals, steel, textiles and electrical machinery imported from the US after Washington imposed tariffs on steel imports in March last year, the Nihon Keizai newspaper said. Japan's tariffs may cost US exporters about ?10 billion (US$92.3 million) a year, the report said, without saying where it obtained the information. Japan's Ministry of Economy, Trade and Industry intends to inform the WTO by the end of this month about the planned increase in duties unless the US ends its import restrictions, the report said.

  ■ Hong Kong

  Habour Fest overspent

  Hong Kong will have to pay the full HK$100 million (US$13 million) set aside for the Harbour Fest series of music concerts after ticket sales and sponsorships failed to meet targets, the South China Morning Post reported. The cost of holding the concerts from Oct. 17 to Nov. 9 was HK$152.9 million, about HK$36 million more than budgeted, the report said, citing preliminary figures given by the government. Hong Kong lawmakers yesterday criticized the government and the American Chamber of Commerce, the event organizer, for overspending on the event, the report said.

  ■ Supermarkets

  Japanese hiring part-timers

  Aeon Co, Ito-Yokado Co and other supermarket operators are hiring more part-time employees to reduce costs, the Nihon Keizai newspaper said, without citing where it obtained the information. As of the end of August, there were 220,000 part-time workers at 14 large supermarkets, or almost three-fourths of their total work force, the report said. The figure is 31,000 more than in February 2001, when the percentage of part-timers stood at 69 percent, the paper said.

  ■ Trade

  Mexico to talk to Mercosur

  Mexican President Vicente Fox said his country is set to begin trade talks with members of Mercosur to reach an agreement with the South American trade bloc. "We're in agreement to begin negotiating, holding dialogue and advancing on this Mercosur-Mexico accord," Fox said in a transcribed version of a press conference in Bolivia. "Certainly, we will soon have it." The Mercosur comprises Argentina, Brazil, Paraguay and Uruguay. Fox signed a trade agreement between Mexico and Uruguay yesterday during the 13th Iberoamerican Summit in Santa Cruz de la Sierra, Bolivia.
• Most Popular

  • 1

    Napoli’s title hopes shaken by late Genoa equalizer

  • 2

    Privately owned city in Kenya taking on corrupt officials

  • 3

    MOE to encourage foreigners to work in Taiwan

  • 4

    Kane tastes first title as Bayern bid farewell to Mueller

  • 5

    Taiwan celebrates V-E Day for first time