samsung hits back at apple

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					18     Gulf Daily News Saturday, 23rd April 2011




                                                                                                                                      In association with www.tradearabia.com




French industrial                                                                                                                                                                      Isuzu denies 
                                                                                                                                                                                       equity tie-up 
                                                                                                                                                                                       with VW

outlook is upbeat
                                                                                                                                                                                       TOKYO: Japan’s Isuzu Motors is
                                                                                                                                                                                       in talks with Volkswagen (VW)
                                                                                                                                                                                       on a truck engine supply deal, a
                                                                                                                                                                                       report said yesterday, but the top
                                                                                                                                                                                       maker of small trucks denied the
                                                                                                                                                                                       two were considering an equity
                                                                                                                                                                                       tie-up.
                                                                                                                                                                                          Both will soon sign a confi-
PARIS:  French industrialists are                 Managers in the manufacturing sector        “The private sector has begun the             the industrial sector confidence was       dentiality agreement and start
more confident about long-term                 reported that activity had continued to      second quarter with style, with growth          back at late 2007, early 2008 levels,      full-scale talks, to close a deal this
prospects although their optimism              pick up and the balance of views about       accelerating at the fastest rate for more       before the global crisis exploded later    autumn, the the Nikkei  business
flattened out in April, a survey by            the outlook was sharply higher than the      than a decade,” Markit economist Paul           that year. “However, it does not mean      daily said.
official statistics agency INSEE               long-term average, INSEE said.               Smith said. “Overall expansion was              output has returned to those levels.”         Isuzu also repeated an earlier
                                                  The findings back up increasing opti-     led by a revived services sector which,            Figures show industrial output          statement that it continued to
showed yesterday.                              mism on the outlook, with the govern-        in line with the trend noted since the          remains 10pc below the February 2008       consider options on operational
   The industrial confidence index             ment expecting growth of two per cent        beginning of the year, has shown further        level and Law said activity had slowed     co-operation. Its shares rose 1.8
steadied at 110 points in April and this       this year.                                   acceleration of growth,” he added.              from the end of last year. He said it      per cent to 340 yen in morning
was 10 points “higher than the long-              A Purchasing Managers Index survey          “Industrialists are very optimistic,          seemed almost “counter-intuitive” that     trade, outperforming a 0.5pc fall
term average,” INSEE said.                     published earlier by marketing consult-      they see strong demand and expect               industrialists should feel so confident    in the Tokyo market’s bench-
   This is one of a number of lead-            ants Markit showed the economy push-         activity to continue at a high level,” said     at a time when the news backdrop was       mark Nikkei average.
ing signals of some dynamism in the            ing ahead strongly, with readings at         Frederique Cerisier of BNP Paribas.             so negative, citing Japanese earthquake,      The paper said Isuzu would sup-
economy.                                       more than 10-year highs.                       Xerfi economist Alexander Law said            rising inflation and production costs.     ply seven-litre-class diesel engines
                                                                                                                                                                                       for midsize trucks and three-litre-

Japan firm                                                                                                                                                                             class engines for commercial vans
                                                                                                                                                                                       and small trucks produced by the
                                                                                                                                                                                       Volkswagen group.

to cut bond                                                                                                                                                                               In return, Volkswagen will
                                                                                                                                                                                       supply engine control and body
                                                                                                                                                                                       safety technologies used in its

investment                                                                                                                                                                             passenger cars for Isuzu’s next
                                                                                                                                                                                       generation pickup trucks.
                                                                                                                                                                                          The exchange will help
TOKYO: Japan Post Insurance                                                                                                                                                            Volkswagen cut costs and lower
plans to trim its investment in                                                                                                                                                        prices, crucial for boosting mar-
Japanese government bonds in                                                                                                                                                           ket share in emerging countries,
the current financial year as it                                                                                                                                                       the paper said.
seeks higher returns by buying                                                                                                                                                            Through          the       tie-up,
more corporate and regional                                                                                                                                                            Volkswagen plans to compete
bonds, a senior company offi-                                                                                                                                                          better with global segment leader
cial said yesterday.                                                                                                                                                                   Daimler AG, the newspaper said,
   State-owned Japan Post’s                                                                                                                                                            adding the two would consider
insurance arm holds 95.75 tril-                                                                                                                                                        acquiring stakes in each other.
lion yen ($1.16trn) in assets                                                                                                                                                             Earlier         this      month,
under management, bigger than                                                                                                                                                          Volkswagen said a decision on
Australia’s economy, which is                                                                                                                                                          a stake in Isuzu was not on the
the world’s 13th largest.                                                                                                                                                              agenda, following reports that
   The insurer, also known                                                                                                                                                             it was considering buying all or
as Kampo Insurance, expects                                                                                                                                                            part of the firm.
JGB yields to stay low due to
concerns over the outlook for
the economy, despite mount-                                                                                                                                                            Venezuela to 
ing speculation over potential
increases in bond issuance to
fund a budget for rebuilding the
                                                                                                                                                                                       set up fund
northern part of Japan after the                                                                                                                                                       CARACAS: Venezuela will set up
March 11 earthquake.                                                                                                                                                                   a fund to distribute windfall rev-
   “We’ll focus our investments                                                                                                                                                        enue from high global oil prices,
on buying the superlong sectors                                                                                                                                                        President Hugo Chavez said, add-
of JGBs. On top of that, we                                                                                                                                                            ing that he expected prices to con-
want to invest in regional and                                                                                                                                                         tinue rising due to the violence in
corporate bonds to seek higher        n A sales assistant arranges jewellery at a goldsmith shop in Hefei, east China’s Anhui province. Gold prices topped $1,500 this                 Libya.
returns,” Mitsuya Watanabe,                            week for the first time on record due to concerns over rising global inflation and debt levels.                                    South America’s biggest oil pro-




                                      samsung hits back at apple
general manager at the insur-                                                                                                                                                          ducer, which pumps almost three
er’s investment planning sec-                                                                                                                                                          million barrels per day, has enjoyed
tion, said.                                                                                                                                                                            sharply higher income recently.
   Japan Post plans to invest a                                                                                                                                                           It normally underestimates
total of 7.1 trillion yen in the                                                                                                                                                       oil prices when making finan-
financial year that began on                                                                                                                                                           cial plans, and its 2011 budget
April 1, little changed from the      SEOUL:  Samsung Electronics filed patent        its new iPhone.”                                    the key battlefield for dominance of the     was based on an assumption that
previous year, Watanabe said.         lawsuits against Apple over the US firm’s          Apple sold 18.6 million iPhones last             world’s smartphone market.                   crude would average $40 a barrel
Of the total, 5.3trn yen will go      iPhone and iPad in a tit-for-tat case after     quarter alone. Samsung, which had a frac-              Android became the most popular           this year. US oil futures settled at
into JGBs in 2011/12, down            Apple claimed Samsung’s smartphones             tion of the booming market until early              smartphone software in the US in the         $112.29 on Thursday, while Brent
500bn yen from last year, while       and tablets “slavishly” copied its products.    last year, is estimated to have sold around         three months ending in February, ahead       crude was $123.99.
it plans to raise its investment in      Samsung’s counter lawsuit, its first         13m units of smartphones in January-                of Apple and Research in Motion, accord-        In a telephone call to a TV pro-
municipal and corporate bonds         against its biggest client, comes days          March and aims to sell 60m units this               ing to a recent survey by research firm      gramme, Chavez said the extra
by 500bn yen to 1.8trn yen,           before it launches a new product and could      year.                                               comScore.                                    revenue would go into a special
Watanabe said.                        jeopardise business ties between the two           Apple filed a lawsuit last Friday alleging          Samsung is one of the fastest growing     development fund. During his 12
   The insurer forecast the yield     companies, as Apple relies on Samsung           Samsung violated patents and trademarks             smartphone makers on the back of the         years in power he has spent billions
on key 10 year JGBs would             for component supplies such as chips and        of its iPhone and iPad, as the popular              Android boom and has emerged as Apple’s      of dollars on socialist projects.
range between around one and          LCD displays.                                   gadgets are being threatened by the fast            strongest competitor in the tablet market,      “The decree is to increase the
1.5pc. It was about 1.210 per-           “Apple is quite annoyed by Samsung’s         rise of rival devices based on Google’s free        with models in three sizes.                  fiscal contribution and the contri-
cent on Friday.                       fast rise in a market which it virtually cre-   Android operating system.                              Samsung said the suits, filed in South    bution of petroleum resources to
   As JGB yields are expected         ated,” James Song, an analyst at Daewoo            Samsung said in a statement yesterday            Korea, Japan and Germany, involved 10        development,” he said.
to be stuck at low levels, the        Securities, said yesterday.                     that Apple’s iPhone and iPad infringe               alleged infringements of patents mainly         Venezuela’s oil sector has been
insurer wants to allocate as             “It’s quite threatening to see how quick-    Samsung’s 10 mobile technology patents              involving power reduction during data        the driving force of Chavez’s self-
much as possible to municipal         ly Samsung plays catchup, and Apple             and it called for Apple to stop infring-            transmission, 3G technology for reduc-       styled socialist “revolution,” con-
and corporate bonds, and is           might have felt a strong urge to put a brake    ing its technology and compensate the               ing errors during data transmission, and     tributing funds for everything to
especially keen on investing in       on its march just when Samsung is set to        company.                                            wireless data communication technol-         education, health and sports pro-
the 10-year sector.                   roll out a new smartphone in May ahead of          Operating systems have emerged as                ogy.                                         grammes.

				
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