Intel invests in HK Net access deal.
Published:
4 August 1999 y., Wednesday
Computer chip giant Intel Corp. said Sunday it was investing in a new joint venture with Hong Kong-based Pacific Century Group in an effort to bring high-speed Internet access to Asia. Under the deal, Intel_s existing joint venture with Pacific Century, known as Pacific Convergence Corp., would be folded into a new company, Pacific Century CyberWorks, Claude Leglise, vice president of Intel_s home products group, said in an interview. Pacific Century Group, a private company controlled by Richard Li, the youngest son of Hong Kong tycoon Li Ka-shing, is creating CyberWorks out of its acquisition of telecommunications firm Tricom Holdings Ltd. Intel would invest $50 million (HK$389 million) in CyberWorks and would also supply chips, software and systems to form the backbone of the new company_s broadcast and Internet business. Leglise said the deal would help Intel get a foothold in Asia_s Internet growth, and resembled a deal announced in June to supply U.S. telecommunications firm Hughes Network Systems Ltd. with chips for set-top boxes that will combine satellite TV with speedy Internet access.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »