Russia to consider exemption of import duty on electronic components
MOSCOW, on April 20th (Xinhua Zhao Zhipeng) In order to enhance the competitiveness of Russian domestic electronic equipment manufacturers and to encourage foreign firms in Russia to assemble electronic devices, the Russian government recently was fermenting initiatives in the pipeline-related, to plan to completely exempt from the import tariffs of electronic components, and to consider the import of finished electronic devices to increase tariff rates to 5% -15%.
Federation of German Industry expected German economic recovery unlikely
From Frankfurt Xinhua on April 20th (Lu Xinqun) Federation of German Industry expected on 20th, that the German economy was not likely to recover quickly in a short time and that German gross domestic product in 2009 might decline by 4% -5%. President of the Federation of German Industry, Hans – Peter • Keitel viewed, the most important issue now was how long the economic downturn would last. He believes that the German economy in 2009 falling by 4% -5% is a reasonable estimate.
Hitachi will appeared huge losses so apply for government capital injection
Xinhua from Tokyo, on April 21st, president of Hitachi Kawamura Takashi on 20th said that in the fiscal year of 2008 (as at the end of March this year) Hitachi would inevitably occur huge losses, the company in the equity capital ratio had a sharp decline. To this end, Hitachi is considering a multi-disciplinary approach to the Government apply for assistance in “the general corporate capital injection system”. As the semiconductor business downturn and the Japanese yen rising and other factors, Hitachi is expected in fiscal 2008, to have the overall loss as high as 700 billion yen (approximately 98 yen for 1 USD).
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