Alexa

In Brief

In Brief

UMC revenue up 4.7 percent in May
Taiwan's United Microelectronics Corp. said yesterday its revenue in May was NT$8.61 billion (US$284.2 million), up 4.7 percent from NT$8.22 billion a year earlier.
UMC, the world's second-largest contract chip maker by revenue after Taiwan Semiconductor Manufacturing Co., said in a statement its revenue in the first five months this year was NT$41.13 billion, up from NT$39.38 billion in the year-earlier period.
UMC said in late April it expected its wafer shipments to rise around 10 percent in the second quarter from the first quarter on expected strong demand for chips used in communication devices.
Payment deferred
Saudi Arabia has agreed to consider deferring Pakistani oil payments as the South Asian nation's economy struggles, state media reported.
The agreement was announced during a three-day visit by Prime Minister Yousuf Raza Gilani and fellow Pakistani leaders to the oil-rich Arab state.
APP reported Saturday the two countries agreed to discuss the potential oil assistance at the ministerial level. Rising oil prices have upped Pakistan's oil bill by more than 40 percent in some 10 months, it reported.
Fujitsu strike
Around 150 workers at Japanese electronics giant Fujitsu Ltd's manufacturing plant in Birmingham, central England, are to go on strike Monday in protest at plans to move their jobs to the United States.
According to the Communication Workers Union, the strike will begin at 6:00 am, and will last for 24 hours, with further industrial action short of going on strike, such as not working overtime, set to continue until an agreement is reached between the company and the workers.
Business deals
Business deals worth US$14.6 billion were signed on the sidelines of an economic forum in Saint Petersburg, a senior Russian official said on Sunday.
"Agreements were signed for a value of US$14.6 billion," including major deals on infrastructure projects, Russian Economic Development Minister Elvira Nabiullina told reporters.
Russian President Dmitry Medvedev opened the forum on Saturday. He also met with the chief executives of top companies interested in investing in Russia.