JAPAN

GE, Japanese Firm to Develop Jet Engine: Ishikawajima-Harima Heavy Industries Co. of Japan said it has formed a $400-million joint venture with General Electric Co. to develop a jet engine for an 80-seat passenger plane. A memorandum of understanding for the project will be signed as early as April, an IHI official said. The new engine will be used initially for Canadian passenger jets. Also last week, a government-backed consortium of Japan’s top five aircraft makers, including IHI, said it plans to develop a new 100-seat passenger jet.