■ Petroleum
Yukos, Sibneft to merge
The owners of Russia's largest oil company, Yukos, and the country's No. 5 producer, Sibneft, are close to a deal on a merger, people briefed on the talks said on Sunday. If completed, the combination would create one of the world's largest oil companies. It would produce 2.16 million barrels of oil a day, roughly equal to Canada's daily production, and more than the world's fourth-largest publicly held oil company Chevron-Texaco. It would have a market value of US$34 billion, making it the most valuable company in Russia. The companies are expected to make an announcement today.
■ Semiconductors
Sony to boost production
Japanese electronics giant Sony today unveiled a plan to invest US$1.7 billion in the next three years to boost semiconductor production for its next-generation computer games. Sony and its computer games arm, Sony Computer Entertainment Inc (SCEI), said it would invest ¥200 billion (US$1.7 billion) to produce chips using the so-called 65nm process on 12 inch wafers. "With this investment, SCEI will manufacture the new microprocessor for the broadband era, code-named `Cell,' as well as other system LSIs [large-scale integrated circuits], to be used for the next generation computer entertainment system," the two companies said in a joint statement. As a first step, SCEI will spend ¥73 billion by March 2004 to introduce new production lines for semiconductor production at its plant in Nagasaki, western Japan.
■ Mobile Phones
Japan's sales decline
Japan's cellphone sales declined for a second consecutive year last year, falling 3 percent as users delayed buying new models, Gartner Dataquest said. Sales totaled 39.4 million units in the 12 months ended Dec. 31, Gartner's Japan unit said in a faxed news release. Sharp Corp's sales were the fastest growing, rising 75 percent to 5.3 million units for a 13.4 percent share of the market thanks to sales of its camera-equipped mobile phones for NTT DoCoMo Inc, the market researcher said.
■ Insurance
Tokio plans investment
Japan's top non-life insurer Tokio Marine and Fire said yesterday it plans to invest some ¥15 billion (US$126 million) in Sino Life Insurance, a Shanghai-based life insurer. Under the deal, Tokio Marine and its group firm Millea Asia Pte of Singapore, which handles insurance operations in Asia, will first invest Y5 billion in the Chinese firm, said Kazushi Miya, Tokio Marine spokesman. The amount is equivalent to a 24.9 percent stake, the maximum allowed for foreigners investing in a Chinese life insurer, he said.
■ Disinfectants
Sales in Singapore soar
Sales of disinfectants are soaring in SARS-hit Singapore with the sharp "hospital smell" pervading offices, hotels and homes, it was reported yesterday. Cleaning service companies told the newspaper Streats that practically everyone wants their premises disinfected over fears that the severe acute respiratory syndrome, or SARS, could spread by the virus being left on surfaces touched by an infected person. Sales of disinfectants and anti-bacterial products have doubled at some super-markets. An online grocery service reported disinfecting products are "flying out" five times faster than usual.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from