International Business

Loral Corp. Forms Weather Radar Venture: The Great Neck, N.Y.-based high-technology company said it has formed a joint venture with China’s National Huayun Technology Development Corp. to produce an advanced weather radar system. Loral will own 51% of the venture, while the Chinese company will own 49%, it said. The venture, called the Beijing Huayun & Loral Radar Systems Co., will produce a new radar to be known as the China Next Generation Weather Radar, or Cinrad. The Doppler radar system, which will be similar to the one used by the U.S. National Weather Service, initially will be used by the Chinese Meteorological Administration, owner of National Huayun. The first Cinrad radars are expected to be available in late 1997, Loral said.