Business Briefs

Public spending to boost growth
The economy is expected to grow 3.05 percent this year with proposed extraordinary public works spending worth over US$1.4 billion dollars predicted to offset the impact of the war in Iraq, the Council for Economic Planning and Development (CEPD) said yesterday. The estimate assumed the US-led war against Iraq would end within 12 weeks, CEPD Chairman Lin Hsin-i (林信義) said. The council previously forecast 3.52 percent growth for this year.

The NT$50 billion (US$1.44 billion) budgeted by the Cabinet for extra public works is currently being studied by the legislature.

Failure secure the funding would likely see economic growth at a lower 2.59 percent, Lin said.

Sony's Vaio hits market
Citing Taiwan's advances in bro-adband Internet use and the rapidly growing notebook market, Sony yesterday launched its latest high-end Vaio notebooks, targeting consumers who want to use digital consumer products such as cameras, camcorders, music systems and DVD players with their computers.

A government official was on hand to endorse the new products at yesterday's launch, hoping to woo Sony to invest in Taiwan.

"We very much hope that Sony will set up a product research and development center in Taiwan in the future," said Ho Mei-yueh (何美玥) vice chairwoman for the Council for Economic Planning and Development.

Consumers need to have deep pockets for the new products. The 16-inch screen Vaio notebook has a price tag of NT$99,800 and the 12-inch model NT$74,800.

Two of the population is now online, with a quarter of that figure using broadband Internet, according to the government-funded Market Intelligence Center. Approximately 440,000 notebooks were sold here last year. This year that figure is expected to increase by up to 30 percent.

Uni to name new CEO
Uni-President Group (統一集團), Taiwan's biggest food maker that has annual sales of NT$205 billion (US$5.9 billion), plans to name Jason Lin (林蒼生) as its chief executive officer, replacing Kao Ching-yuan (高清愿) who will remain as group vice chairman, group spokesman Simon Hung (洪士民) said yesterday.

Lin currently the president of flagship unit Uni-President Enterprises Co (統一企業). He is expected to retire from his current position in June, Hung said.

Shipping charges increased
Evergreen Marine Corp (長榮海運) announced yesterday that it will raise by US$700 to US$900 its transportation charges for each US-bound 12m container departing from Asian ports in reflection of brisk demand.

Effective 1, the price for each 12m container to the US' west coast will rise by US$700, while that to the east coast will go up by US$900, a company official said.

"The price hikes are due to a supply shortfall as demand growth is surpassing supply growth," the official added.

Hon Hai may dismiss R&D team
Hon Hai Precision Industry Co (鴻海精密), Taiwan's largest computer-parts maker, is considering disbanding its two-year-old notebook computer development team, a local newspaper reported yesterday.

The company may take over another notebook computer-maker instead to expand into the industry, the paper quoted Hon Hai spokesman Edmund Ding (丁祈安) as saying. Ding denied Hon Hai is in talks to buy Arima Computer Corp (華宇電腦), the paper said.

NT dollar remains weak
The New Taiwan dollar yesterday remained weak against its US counterpart, dropping NT$0.014 to close at NT$34.812 on the Taipei foreign exchange market.

Turnover was US$372 million.