H-P gets US nod for knowhow export: Hewlett-Packard has received US government nod for exporting its most advanced technology for managing and providing strong encryption services. VerSecurel, HP says will make global Internet-based business transactions and communications highly safe and secure. The licence gives HP end users in non-US countries access to strong cryptography. With VerSecure, 128 bit and triple-DES encryption is available to users running computer applications. HP will export the technology to UK, Germany, France, Denmark and Australia. At present companies like IBM, Microsoft and Motorola use this technology.Kim Jong-Pil named Korea's acting prime minister: South Korea president Kim Dae-jung on Tuesday named his coalition partner Kim Jong-Pil as "acting prime minister", a presidential spokesman said. Kim Jong-Pil's appointment follows the earlier appointmentof 17 cabinet ministers. Kim Jong-Pil was promised the prime minister's job in return for foregoing his own bid for thepresidency and throwing his weight behind President Kim Dae-jung, whose margin of victory in the December 18 presidential poll was barely one per cent.
Marubeni aims for Y50bn 2000-01 group net profit: Marubeni Corp, a major trading house, said on Tuesday it will aim for a group net profit of 50 billion yen in the year ending March 2001. In November, it forecast a group net profit of 30 billion yen for the current 1997-98 business year, up from an actual 20.11 billion yen the previous year. The target was included in Marubeni's three-year management plan that is to start this April. The company said in a statement it will also aim for aparent net profit of 25 billion yen in 2000/01, up from an estimated 16 billion yen in 1997-98.
Orion buys stake in Africa food firm: South African financial services company, Orion Selections Limited, said on Tuesday it had acquired a 40-per cent stake in National Cereal Industries Ltd (NCI) for an undisclosed amount. In a brief statement, Orion, formerly NBSBoland Ltd, saidthe acquisition would take effect of March 1. NCI comprises the grain processing, baking and animal feed businesses of South Africa's Genfood Industries (Pty) Ltd. Orion said the investment would make a positive contribution to its future growth and profitability but would not have material impact on current earnings.
APN says no plans for share issue, buys: Media group Australian Provincial Newspapers Holdings Ltd (APN) said on Tuesday it had no plans for further capital raisings or acquisitions in the near future. Earlier APN reported a pre-abnormal net profit of A$30.5 million for calendar 1997, up 21 per cent on the 1996 year, with sales up 13 per cent to A$283.74 million. "We are very happy with our capital structure," APN chiefexecutive officer Cameron O'Reilly told reporters. O'Reilly said APN's debt to equity ratio was 80 per cent and interest cover of over threetimes, which he said were comfortable margins.
Datacraft secures deal from Bangkok Bank: Datacraft Asiasaid on Tuesday it had secured a $1.1-million deal from Thailand's Bangkok Bank Public Co Ltd. The network systems integrator said the contract was to design and implement the bank's local area network infrastructure for enhanced banking and customer services. Ron Cattell, Datacraft chief operating officer, said in a statement that he was pleased with the contract given the economic uncertainty in Thailand, and added that the bank had already paid in full for the contract.
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