Ban on US apples lifted
The ban on American apple imports was lifted yesterday after assurances from the US that strengthened inspection measures have been taken to prevent future imports of problematic products, a government agency said in a statement yesterday.
"Since the Animal and Plant Health Inspection Service under the US Department of Agriculture has provided an explanation and improved quarantine procedures, we have agreed to allow the imports of US apples, effective Dec. 10," the Bureau of Animal and Plant Health Inspection and Quarantine said in a statement.
The bureau recently sent an inspection to the US to make sure the inspection plan in action is in line with government standards.
Chinese bank in Formosa loan
Citigroup Inc and BOC Hong Kong (Holdings) Ltd, a unit of China's second-biggest lender, are arranging a US$211 million loan for Formosa Chemicals & Fibre Corp (台化), the first lead arranged by a Chinese lender for a Taiwanese company. Formosa Chemicals is seeking the loans to build a factory in Ningbo, China.
About half of the seven-year loan will be denominated in US dollars and the remainder in Chinese yuan. The loan is expected to be completed by the end of February.
Trade groups urge reforms
The heads of major trade and industrial associations yesterday called on the legislature to push support for early passage of financial bills.
Gary Wang (王令麟), chairman of the General Chamber of Commerce (商總), said that he hoped the legislature will pass major financial bills, boost government and private investments to help an early recovery of the economy.
Wang also expects the legislature revise the public debt law to raise the ceiling to borrow money; otherwise, the government will need to enact a special law to appropriate money for economic stimulus plans to promote public construction.
CAL raises profit forecast
China Airlines Co (華航) yesterday raised its 2002 pre-tax profit by 31.3 percent to NT$2.22 billion (US$63.4 million) amid brisk business.
Expanded business especially in cargo service in the third quarter had pushed the company projection of 2002 revenues to NT$72.8 billion from the NT$72.4-billion forecast made in October, a company statement said.
The closure of US west coast ports had forced many cargoes to switch from sea to air shipment, boosting the carrier's revenues, it said.
The company posted NT$1.64 billion in pre-tax profit for 2001.
Semiconductor workshop opens
Executives of semiconductor manufacturers from home and abroad are attending the two-day 2002 Semiconductor Manu-facturing Technology Workshop that opened in Hsinchu yesterday.
At the first day workshop sponsored by the Taiwan Semiconductor Industry Association (TSIA, 台灣半導體協會), Shyu Jyuo-ming (徐爵民) of the Hsinchu-based Industrial Technology Research Institute (ITRI) gave an opening speech on the impact of nanotechnology on Taiwan's semiconductor industry.
Bruce L. Gehman, chief technical officer of the Semiconductor Equipment and Materials International (SEMI), spoke on the outlook for the international standards and semiconductor fabs of the future.
NT dollar dips
The New Taiwan dollar yesterday fell against its US counterpart, losing NT$0.049 to close at NT$34.854 on the Taipei foreign exchange market. Turnover was US$352 million, compared with the previous day's US$338 million.
RSS