QAD gets AG Simpson Automotive order: QAD, a major supplier of integrated business software and services, has bagged the AG Simpson Automotive Systems order for implementing the MFG/PRO enterprise resource planning software at its various sites. The $1.3 million order was given to QAD considering its proven expertise in the automotive sector and special architecture for implementations in multi-sites. AG Simpson has selected the software to support its first global expansion in the field of laser welded blands and value-added services. QAD Automotive section has over 500 customers worldwide. Based in Ontario, AG Simpson is a leading original equipment supplier for many companies.Sanyo Securities defers business operations: Sanyo Securities Co Ltd, which filed for bankruptcy protection from creditors early last month, said on Friday it would postpone the date it planned to resume operations to March 15. The brokerage has already postponed the resumption once before, on December 3. AkiraFujishima, the court-appointed administrator of Sanyo Securities' assets, said in a statement issued with Sanyo's statement that he had not been able to find a company willing to buy stakes in Sanyo Securities in order to help the brokerage revive its business on its own.
Japan MoF told Yamaichi to hide deals: Japan's finance ministry instructed the now-defunct Yamaichi Securities Co Ltd to hide some of its losses from improper trades in 1991 and 1992, the Financial daily Nihon Keizai Shimbun reported on Friday. The Nikkei said it had learned that former Yamaichi president Atsuo Miki had told several of the brokerage's executives at the time that when he had informed the MOF of the improper losses, the ministry had instructed him to leave the losses off the books.
Cinergy Q4 gains : Cinergy Corp fourth quarter earnings per share of $0.70 compared with $0.44 for 1996's final quarter saying the gain reflected a return to more normal weather and significant savings from cost controlefforts. As previously reported, the company noted, fourth quarter1996 results reflected one-time charges of $0.17 per share. The First Call consensus for the latest quarter was $0.67. Electric kilowatt hour sales were up 47.2 per cent in the latest quarter reflecting a 180 per cent increase in power sales and trading volumes by the Energy Commodities Business Unit and the strong regional economy, Cinergy said.
Qantas gets extra China, India capacity: Australia's International Air Services Commission (IASC) said on Friday it had allocated Qantas Airways Ltd additional capacity on the India and China routes. "The commission was pleased to see these new initiatives,"said IASC head Jim Bain in a statement. "These allocations come at a time when the airlines were being forced to cut services on a number of other Asian routes as a result of a marked downturn in demand." The commission said Qantas would operate two extra weekly Boeing 747 services between Australia and India from March 1998, and a thirdservice from August.
US lawmakers demand end-use inspection of supercomputers: US lawmakers are drafting tough laws to check end-use of supercomputers sold to Russia and China to prevent their use in building and improving nuclear weapons and missiles but trade analysts warned it would adversely affect such sales. These laws will make permanent end-use inspection of all supercomputers sold to these two countries mandatory, Senator Thad Cochran, who heads a committee that deals with such matters said.
China okays ground station for iridium satellite system: China has approved US-based telecom giant Motorola's plan to set up a ground station for its iridium satellite system, according to official reports. Xinhua news agency, quoting an official with Motorola Electronics (China) Ltd, said his company would provide $30 million worth of equipment for the station, one of the six earth stations worldwide. The iridium satellite system is a global telecom network formed by 66 low-earth-orbitsatellites.
US set to lead infotech pact at WTO: The United States is all set to lead a sweeping information technology trade agreement -- ITA II -- at the World Trade Organization (WTO) next month, trade representative Charlene Barshefsky said. "We look forward to working with the private sector and our trading partners in further developing our proposals as we negotiate ITA II," Barshefsky said. Washington is preparing along with some other nations to accelerate tarrif cuts on selected products that form form part of the agreement, which will cover almost all areas of information technology, he said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
