Legislators and activists urged the government yesterday to exercise care in appointing the new chairman of state-run China Steel Corp (
Amid speculation about high-level, behind-the-scenes disagreements over who should chair China Steel, the Commission of National Corporations (
At a press conference held by independent legislator Liao Hsueh-kuang (
Activists from Spoonbill Action Voluntary Echo International, Taiwan Environmental Action Network, Taiwan Environmental Protection Union and the Taiwan Labor Front, also said at the press conference that the steel industry was a "sunset industry," which deserved no support from the government.
The new chairman of China Steel's board will receive a NT$6 million annual salary and will be the dominant figure in the allocation of an over NT$60 billion budget for the planned rapid transit system in Kaohsiung, in which the company is the sole investor.
It has been reported that the two leading candidates for the post are Wang Chung-yu (
Yieh-loong has been involved in the proposal for the Pinnan Industrial Complex (濱南工業區) in Tainan together with the Tuntex Group (東帝士集團) since 1993. The environmental impact assessment for the project has not yet received final approval from the Environmental Protection Administration.
Yieh-loong was purchased by China Steel last year after a financial crisis at the company.
Environmentalists, however, say that the two major rivals and frontrunners are both unqualified.
"We are particularly against Kuo, the promoter of an industrial complex that will have a negative impact on the environment, including air pollution and the destruction of a wintering site for the endangered Black-faced Spoonbill," said Pan Han-chiang (
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RSS