Foreign business news in brief

SEATTLE: Boeing Co, the world’s largest jet maker, said it delivered 71 commercial aircraft in the first quarter, down 35% from the corresponding quarter of 2002, as its airline customers struggle to survive. 

The company's jetliner unit shipped 32 new transports in March after rolling out 15 in January and 24 in February, putting it on track to reach its forecast of 280 deliveries for the full year. Many analysts view that as a “best case” projection, given the threat of further bankruptcy filings by airlines battered by a huge travel slump. – Reuters 



SEOUL: Daewoo Shipbuilding and Marine Engineering Co has won a US$703mil order from a unit of ChevronTexaco to build an oil plant in Angola. The order was placed by Cabinda Gulf Oil Co, with completion of the plant scheduled for October 2005, the world's second largest shipyard said. 

Separately, Daewoo told the Korean Stock Exchange that it had won US$143mil in orders from Hong Kong and Greece to build oil tankers. Earlier this month Daewoo had also won a US$197.2mil order from BP American Production Co to build crude oil rig facilities. – Reuters 



SHANGHAI: Belgian-Dutch financial giant Fortis NV and brokerage Haitong Securities Co Ltd have won final approval to set up an asset management joint venture in China, state newspapers reported yesterday. 

The venture, one of a handful of similar tie-ups granted approval by the China Securities Regulatory Commission, will have registered capital of 100 million yuan (US$12.1mil). Haitong Securities, China’s largest brokerage by registered capital last year, will hold a 67% stake in the venture and Fortis the balance 33%. – Reuters  

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