Business News

Dutch insurer Aegon pulls out of Taiwan

Dutch insurer Aegon pulls out of TaiwanTaipei  - Dutch insurer Aegon NV is to sell its Taiwanese life insurance unit to local investors to boost its cash flow, local media reported Thursday.

Aegon said in a statement that it had agreed to transfer its local business to Taipei-based consortium Zhongwei Co for 84.5 million dollars, the Taipei Times reported.

The deal is expected to be completed by the end of third quarter, pending regulatory approval, the company said.

Soft-drink volume up, profits down at Coca-Cola

Soft-drink volume up, profits down at Coca-ColaNew York - Sof

Singapore gears up to tackle casino-related crime

Singapore gears up to tackle casino-related crime Singapore  - Singapore is preparing to deal with casino-related offences, such as cheating and prostitution, ahead of the opening of two casino-anchored resorts, the first of which is due to open in December, media reports said Saturday.

Deputy Prime Minister and Home Affairs Minister Wong Kan Seng noted that newly opened casinos are often the subject of syndicate scams, and to combat such schemes, the Casino Regulatory Authority (CRA) would increase its staff to 116 by the end of the year from a current 75.

YouTube signs deal with Hollywood studios to show TV episodes, movies

YouTube signs deal with Hollywood studios to show TV episodes, moviesNew York, Apr. 17 : In another step in its transformation from an online jumble of amateur videos to a destination for mainstream TV programs and movies, YouTube said Thursday that it had signed deals with Hollywood studios to showcase thousands of TV episodes and hundreds of movies on its Web site.

Google, which owns YouTube, said it might eventually bring another innovation to the site: payment for some premium content.

Toshiba ups net loss forecast to 350 billion yen

Toshiba ups net loss forecast to 350 billion yen Tokyo  - Japanese electronics giant Toshiba Corp Friday revised its earnings estimate for the previous business year, now predicting a greater net loss due to a price slump in the semiconductor market and tax credit costs.

Toshiba now predicts a net loss of 350 billion yen (3.5 billion dollars) for the business year that ended March 31, up from a previous 280-billon-yen loss estimate. Last business year, Toshiba reported net profits of 127.4 billion yen.

NEC, Renesas in merger talks, report says

NEC, Renesas in merger talks, report saysTokyo  - Japan's semiconductor industry is to experience a major shake-up, as electronics companies Renesas Technology and NEC Electronics are considering to merge, a news report said Thursday.

The two companies were in talks and a deal is expected by the end of the month, the Nikkei, a business daily, reported. A merger, which is expected to go ahead by April 2010, would create Japan's largest chipmaker.

The move was to to ensure the companies' survival during the global downturn.

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