Economic & Business

Seoul (ANTARA News/Asia Pulse) - POSCO (KSE:005490), South Korea\'s leading steelmaker POSCO said Wednesday that it has decided to buy a stake in a local plant equipment maker for 159 billion won (US$141 million).

Hong Kong (ANTARA News/Asia Pulse) - Global investment bank Goldman Sachs said Wednesday the global chip industry will likely see a shortage in DRAM chips next year due to increasing demand.

North Sulawesi province is supplying 75 percent of global nutmeg needs, confirming its position as the world`s biggest supplier of the commodity, an official said.

The government is still waiting for the results of its discussion with the House of Representatives (DPR) to decide whether or not it will raise the basic power rate (TDL).

Publicly-listed cement maker PT Indocement Tunggal Prakarsa Tbk looks set to raise its annual production by 1.5 million tons as of May when its two new cement plants start production.

The government is providing duty-free facilities for the importation of goods and materials to produce telecommunication appliances this year.

The potential conversion of diesel power plants (PLTD) into small-scale geothermal power plants (PLTP) may reach a capacity of 200 MW, the Agency for Assessment and Application of Technology (BPPT) said.

The Indian government on Friday said it will persuade states to reach a consensus on the Goods and Services Tax so that it can be implemented from April 1 next year.

Japan\'s Mitsui Fudosan Co. (TSE:8801) is developing commercial sales outlets in Ningbo, China, in partnership with Itochu Corp. (TSE:8001) and a local investment firm.

Japan\'s Sanyo Electric Co. (TSE:6764) plans to ramp up Indonesian production of LCD televisions more than fivefold to an annual 1 million units by 2011.