Fri, Jul 16, 2004 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

■ CPC increases prices

State-run Chinese Petroleum Corp (CPC, 中油) yesterday announced the long-awaited price hikes of wholesale gasoline and diesel by NT$0.4 per liter and NT$0.5 per liter respectively. The new rates will take effect from midnight today, the company said in a statement.

CPC said that prices of oil are rising again over unrest in the Middle East, strikes in oil exporting nations in East Africa, and disrupted production in Russia, pushing crude oil prices to US$39.466 per barrel on the US benchmark grade West Texas Intermediate (WTI).

■ Textile fair opens

Major Taiwanese textile manufacturing firms are displaying their new high-tech products at an annual textile trade fair in New York that opened Wednesday at the Manhattan Center for a two-day run.

On display at the Taiwanese booth are newly developed high-end synthetic fibers, eco-friendly fibers, various types of functional fibers and fibers for non-woven fabrics.

The nation is the world's second largest synthetic fiber producing country, with an annual production of 4 million tonnes. About 65 percent of Taiwan-produced synthetic fibers are for domestic use while the remaining 35 percent are exported.

■ China Airlines launches tours

China Airlines Ltd (華航) yesterday launched a series of new inbound tour packages "Dynasty Package: discovering Taiwan," targeted at individual tourists from Hong Kong and Japan, the company said in a statement.

These packages are also a part of the government's tourism promoting plans, aiming to double the annual number of inbound tourists by 2008, the statement added.

The design of the packages took into account a survey of foreign tourists by the Tourism Bureau. According to the survey, the major attractions in this country are food, scenery and cultural heritage.

■ Effem gets ultimatum

The Consumers' Foundation (消基會) yesterday said it would file a class-action law suit against Effem Foods Taiwan (美商艾汾) if the pet food company fails to clarify within one week how it will act to compensate dog owners, whose pets may have developed kidney failure with Pedigree dog food.

The foundation accused the company of never making public its criteria for compensation.

In response, Effem said in a statement that the company has so far compensated more than 80 percent of affected dog owners, adding that its compensation efforts were earlier approved by both the Consumer Protection Commission and the Taiwan Veterinarian Medical Association.

■ Job fair begins

An job fair jointly sponsored by the government and the private sector is slated to begin this weekend in Taipei to offer about 15,000 job opportunities for young people, organizers said yesterday.

The youth recruitment campaign will have 150 companies get together at the Taipei World Trade Center tomorrow and Sunday to provide about 15,000 job opportunities for young job seekers this summer.

The show will be the largest of its kind in 10 years, with leading businesses from the high-tech, financial and services sectors applying to take part in the fair, the organizers said.

■ NT dollar declines

The New Taiwan dollar yesterday traded lower against its US counterpart, declining NT$0.124 to close at NT$33.911 on the Taipei foreign exchange market.

Turnover was US$718 million.

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