■ Crude oil
Output in Venezuela up
Venezuela's oil output has increased five-fold since the start of the year as additional fields have been activated, striking oil workers said. Output is about 1.08 million barrels, strikers said in a press statement. They estimated output at 190,000 barrels a day on Jan. 1. Venezuela was producing about 3 million barrels a day of oil before the nationwide strike began Dec. 2. Natural gas output was 41 percent of pre-strike levels, strikers said. Oil output has been curtailed since the strike began. Strikers are seeking the ouster of President Hugo Chavez. Petroleos de Venezuela SA President Ali Rodriguez said Friday that production was 1.5 million barrels a day, and will reach 2.5 million barrels a day by mid-March. His forecasts are disputed by oil strikers.
■ Automakers
Nissan pushes Teana cars
Nissan Motor Co, Japan's third-largest automaker, said it plans to sell 100,000 of its new Teana sedans a year worldwide after it releases the model in an effort to lure more customers. The company, 44 percent owned by Renault SA, said it expects to sell about 25,000 units a year in its home market. Nissan starts selling the luxury car in Japan today, priced between Japanese yen 2.25 million (US$18,746) and 3.19 million yen. The automaker will offer it in China and other Asian markets later this year. Nissan, which expects to raise global auto sales by 9.3 percent this business year, is releasing a record 12 new and revamped models globally to spur demand. The world's second-largest automaker by market value expects to report a third straight record annual profit this business year, after posting its largest loss three years ago. The Teana, based on the same platform as the Maxima sedan, will be available with a 2.3-liter or 3.5-liter engine.
■ NTT DoCoMo
Customer spending down
NTT DoCoMo Inc, the world's No. 2 mobile-phone company by sales, said customers spent less on cellular services and it lost market share in the three months ended Dec. 31. Customers of DoCoMo's main cellular services spent an average of Y8,200 (US$68) a month in the quarter, 4 percent less than in the same period a year earlier, the company said in a release at the Tokyo Stock Exchange. DoCoMo said its share of Japan's cellular market, the world's second biggest by value behind the US, slipped to 58.3 percent from 59 percent a year earlier.
■ Platinum
Price surges in Tokyo
Platinum rose in Tokyo to the highest more than 19 years on expectation a US$1.2 billion fuel cell initiative proposed by US President George W. Bush would boost demand for the metal. Platinum for December delivery rose Y80, or 3.4 percent, to 2,437 yen per gram on the Tokyo Commodity Exchange, the highest price since March 20, 1989. "Platinum demand is expected to increase as more of the metal will be used for fuel cells for autos," said Akio Shibata, a commodities analyst at Marubeni Corp. The so-called Freedom Fuel initiative in the US is aimed at reversing "America's growing dependence on foreign oil by developing the technology for commercially viable hydrogen-powered fuel cells to power cars, trucks, homes and businesses with no pollution or greenhouse gases," Bush told the US Congress last week.Agencies
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI