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.