IN THE PAPERS
In The Papers 13 April
13-04-2010
by Sylvia Leatham
Kerry gets new e-town project | China's Tencent invests in Russia's DST
The Irish Times reports that motorists who buy electric cars will be given a grant of up to EUR5,000 and will be exempted from vehicle registration tax. Read more on this story on ENN.
The paper also says that Shannon Development has launched an eight-house, EUR3 million live/work housing project in Tarbert, Kerry. Its promoters have declared it the State's first 'e-town' project. The e-town concept involves providing advanced broadband access and a community-based training programme to help people use it. Residents of the Tarbert area were offered a free three-month course in web authoring which allowed them to establish a new community website for the town, www.tarbert.ie.
According to the Financial Times, Chinese internet giant Tencent is investing USD300 million in Digital Sky Technologies of Russia. The move is the latest sign that Chinese internet companies are looking to diversify beyond their home markets. DST owns several popular web properties in Russia through a portfolio of communications, gaming and social networking sites that closely mirrors Tencent's in China. DST is best known outside Russia for its investment in Facebook last year.
The paper also notes that Telecom Italia has cut its medium-term revenue growth target amid plans to make greater savings to reduce its EUR34 billion debt. The Italian telecoms group kept its dividend unchanged at EUR0.05, even though a double-digit drop in Italian mobile revenue and a writedown sent 2009 re-stated net profit down 27 percent to EUR1.581 billion. The company said revenue this year will fall 2 to 3 percent and organic EBITDA will remain substantially unchanged at EUR11.3 billion. Over the 2010-2012 period, revenue is expected to rise about 1 percent with cost savings of EUR2.7 billion.
The Wall Street Journal reports that Microsoft has launched a range of mobile phones targeted at young consumers and designed around social-networking features. The two phones, dubbed Kin One and Kin Two, were designed by Microsoft with touch-sensing screens and slide-out physical keyboards. Microsoft also created the software that runs on both phones so users can keep track of updates, photos and other information shared by friends through social networking services. The phones will be offered in the US from May by Verizon Wireless. Vodafone will sell the devices in the autumn in the UK, Germany, Italy and Spain.
The paper also says that Sharp has said it will "significantly" ramp up output of LCD televisions this fiscal year, as well as launching a 3D television. Meanwhile, rival Panasonic said it was pushing forward the start of a new LCD panel factory in western Japan by three months. The developments are among the latest indications that strong TV sales -- particularly in China and other emerging markets -- are encouraging electronics makers to boost output plans, having scaled back production during the global financial crisis that began in 2008.
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Caped Koala Studios has built a virtual world for kids, combining education and social networking 