Kimi Raikkonen may have now signed a contract to return to formula one with Williams in 2012.

The Finnish daily Ilta-Sanomat reveals that its source is the Monaco-domiciled former Simtek and Footwork driver Taki Inoue, a Japanese who last raced in F1 in 1995.

Inoue is apparently still well connected in formula one circles, given his efforts to advance the careers of several rising Japanese drivers.

Earlier this month, Ilta-Sanomat reported that the key to Raikkonen’s return to formula one was whether Williams could sign the Qatar National Bank as a major new sponsor.

Brazilian journalist Livio Oricchio wrote in O Estado de S.Paulo last Friday: “In recent days Frank Williams travelled to Arab states Qatar and Saudi Arabia.”

The beleaguered British team rose to the front of the grid some decades ago with Arab-linked sponsors including Saudia, TAG and Albilad.

Another fascinating rumour at the Paris motor show is that Porsche could soon be on the formula one grid.

Earlier this year, it was reported the sports car marque’s German parent Volkswagen might enter the sport when the engine regulations change in 2013.

At the time, it was suggested that either Audi or Porsche branding was likely.

Porsche’s new chief executive Matthias Mueller was asked at the Paris motor show this week whether it made sense for both Porsche and Audi to compete at Le Mans.

“We do not like to both go into LMP1; that is not so funny,” he is quoted by Autocar.

“So therefore we have to discuss whether it makes better sense for one of the brands to go into LMP1, and the other brand into formula one.  So we will have a round-table to discuss the pros and cons,” added Mueller.

In June this year, Audi’s motor sport boss Wolfgang Ullrich said F1 and Audi “do not fit”.

Porsche last competed in F1 as an engine supplier to Footwork in 1991.

Mueller also said in Paris that Volkswagen is considering a foray in NASCAR, with talks with the popular American series to reportedly begin after the current season.

Stuttgart-based Porsche’s revenues have risen 18 per cent to a record high, totalling EUR 7.8 billion in the latest financial year.

“Porsche will continue the positive trend in the current business year,” confirmed outgoing chief executive Michael Macht.

Derek Warwick will return to F1 stewarding duties at the Hungaroring this weekend.

In May in Barcelona, the former F1 racer made his debut as the driver representative on the FIA officials’ panel.

Briton Warwick, 55 and a veteran of 162 grands prix between 1981 and 1993, did not win a race during his tenures with Toleman, Renault, Brabham, Arrows, Lotus and Footwork.