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Business snippets
HMI plans to enhance production
3/15/2006
CHENNAI, Mar 14: Rolling out its one millionth car in India in a record 90 months, Hyundai Motor India Ltd (HMI) yesterday said it plans to enhance annual production to 60,000 units after completion of its second plant by 2007-end. At present, HMI has an annual production of 2,80,000 units at its Sriperumbudur facility and would increase it to three lakh units soon, the company MD and CEO Heung Soo Lheem said yesterday, after the roll out of the one millionth car. — PTI
Nissei Plastic begins operations in Vietnam
HCM City, Mar 14: The wholly Japanese-owned company Nissei Plastic Vietnam inaugurated its operations in the country on March 9 after almost two years of running a representative office in the city. Nissei will import and sell moulding machines and provide moulding machine installation, maintenance services and spare parts, said chairman of the new company's parent Japan Plastic Industrial Co. — VNA
Chicken sales rising in Nepal
KATHMANDU, Mar 14 Sales of chicken and poultry products, which had plummeted in recent weeks following news of the outbreak of bird flu in India, have begun to pick up giving some respite to distressed poultry farmers, president of the Nepal Hatchery Association (NHA) said here today. "Poultry products sales have now increased by around 40 per cent as compared to three weeks ago when news broke out that bird flu was detected in chickens in some Indian states," president of the NHA, a non-government organisation, told reporters. — Xinhua
S Africa confident of growth
JOHANNESBURG, Mar 14: South African Deputy President Phumzile Mlambo-Ngcuka said yesterday that South Africa will achieve an annual economic growth rate of at least 6 per cent between 2010 and 2014. The deputy president said at the launch of the IMB Integrated Delivery Centre that a challenge to which the country would have to commit was to ensure that growth was shared. — Xinhua
Workers strike in Vietnam factory
HANOI, Mar 14: About 8,000 workers went on strike at a Taiwanese-owned shoe factory in southern Vietnam in the country's latest industrial action demanding higher pay, an official said Tuesday. Communist leaders and foreign businesses have voiced concern over the wave of wildcat strikes, seen as the worst in post-war Vietnam, that started almost three months ago in mainly Asian-owned plants around southern Ho Chi Minh City. — AFP
HK poultry traders protest
bird flu control
HONG KONG, Mar 14: Hong Kong poultry traders jumped into the famous Victoria Harbour Tuesday in protest of the government's measures to avert an outbreak of bird flu in the southern Chinese territory. They complained that the government's restrictions, including plans to cut the number of imported live poultry by a third and to reduce poultry numbers in local chicken farms, would seriously affect business. Some 50 traders from the poultry industry also protested outside the Legislative Council demanding to meet with Health Secretary York Chow. — AFP
Deutsche Post sees stable
operating profit
BONN, Mar 14: Deutsche Post, the German postal giant, said Tuesday it expected operating profit to at least remain stable in the current year after the sharp rise reported last year. Deutsche Post said in a statement it "anticipates revenues for the current year to exceed 60 billion euros (71 billion dollars) and earnings before interest and tax (EBIT) to total at least 3.7 billion euros". — AFP
Seiko to open research
centre in S'pore
SINGAPORE, Mar 14: Japanese electronics and watch maker Seiko Instruments will set up a research centre in Singapore, its first outside Japan, local press reports said Tuesday. The facility will work with local research institutes in the field of micro and nano technology, The Business Times quoted Seiko Instruments president and chief executive officer Yukihiko Chayama as saying. — AFP
BCN-13
Australian business confidence up
SYDNEY, Mar 14: Australian business confidence rose in February as concerns eased over a sharp fall in activity in the future, National Australia Bank (NAB) said today. Business confidence, which measures executives' expectations about the upcoming month, rose to 15.0 points in February from 10.0 points in January in seasonally adjusted terms, NAB said. This was well above both the 2005 average of 6.0 points and the long-term average of 9.0 points. ---AFP
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