Foreign business news in brief

  • Business
  • Thursday, 05 Jun 2003

StarHub hooks up with Indosat 

SINGAPORE: StarHub, Singapore’s second largest telecoms provider, has teamed up with Indonesian international call operator Indosat to provide high-speed data services for businesses in the two markets. 

The service is targeted at companies in the manufacturing and hospitality sectors which need larger bandwidth and higher-quality transmission capabilities. “We see demand for bandwidth rapidly increasing between Singapore and Indonesia as both countries continue to develop cooperative agreements,” said Mike Reynolds, senior vice-president for StarHub Business Markets. – Reuters 

  • Another perspective from The Straits Times, a partner of Asia News Network.  

    ING applies to trade in China A shares 


    HONG KONG: Dutch group ING is applying for approval to trade yuan-denominated Chinese shares and bonds, and plans an initial investment of US$100mil in China’s vast US$500bil A share market. 

    An ING spokesman said it was applying to the China Securities Regulatory Commission for permission to enter the country’s main stock and bond markets under the landmark Qualified Foreign Institutional Investor scheme launched last year. – Reuters 


    Intel to invest US$100mil in Elpida  


    SAN FRANCISCO: Intel has agreed to invest US$100mil in Elpida Memory, Japan’s only maker of dynamic random access memory (DRAM) chips. The investment is a boost to struggling Elpida, a joint venture of NEC and Hitachi, but will not be finalised until Elpida secures other funding.  

    The investment will be used to boost production at Elpida’s 300mm plant in Hiroshima. – AFX  

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