Intel Looking To Invest Its Way Out Of Financial Crisis - Chairman
Monday December 1st, 2008 / 15h59
CAIRO -(Dow Jones)- Intel Corp. (INTC) is counting on new investments in the field of research and development of new products to help it sail through the global financial crisis, the company's chairman said Monday. "We'll invest our way out of this recession, we won't save our way through it," Craig Barrett told reporters, on the sidelines of a press conference in Cairo. Rather than worrying about what the company can't control, Barrett said, Intel is focusing on what it can control, which is investing to put products on the market. "Our way out of this is new products, new technology and new markets around the world, the established and emerging world," Barrett said. Barrett also said he was looking forward to President-elect Barrack Obama's plans to assign a chief technology officer. "If he chooses as he suggested to put a chief technology officer in his cabinet, I think that might be very useful from a high tech perspective," Barrett said. Barrett is in Egypt to mark the start of a new initiative in which Intel motherboards will be assembled in Egypt for shipment across Africa. As a result of the agreement, local hardware manufacturer Boraq for Electronics and Industries is expected to generate $25 million a year for the production of 250,000 motherboards for export across the region. -By Maha El Dahan, contributing to Dow Jones Newswires, +201 222 67850, mahaeldahan@yahoo.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=cyyj%2Fj9l%2Faz7taM%2FBIG0ZQ%3D%3D. You can use this link on the day this article is published and the following day.
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