■ Travel
SARS would cut into travel
Business travel could slump by as much as 90 percent should SARS return to Asia, even though many countries have safeguards in place to prevent any future out-breaks from spreading, an American Express report released yesterday said. The world's largest corporate travel agency released find-ings of a new survey on business travel patterns among 807 corporate clients after the spread of SARS earlier this year. "Our clients are saying that they owe a duty of care to their staff," said Kyle Davis, American Express vice president and general manager for the Asia-Pacific. "They will enforce strictly all World Health Organization travel advi-sories and allow very few exceptions," he said. The survey covered business travel originating from Hong Kong, Taiwan, Singapore, India, Australia and New Zealand. Amex found it would took only three weeks for business travel between SARS-affected regions to fall by 90 percent.
■ Forex
Five-year plan for yuan
The People's Bank of China is considering boosting the yuan's value by 30 percent in five years, Japan's Jiji Press reported yesterday, citing unnamed financial sources in Beijing. The bank is considering revaluing the yuan in stages, but the timing and how much it will be revalued in the initial step has not been decided, the report said. But in the face of strong domestic opposition, Chinese author-ities are expected to move cautiously on the matter, the report said. The com-merce and other depart-ments are strongly opposed to the plan because the revaluation of the yuan will make Chinese exports more expensive, it said.
■ Computers
Fujitsu, Siemens link up
Japanese electronics maker Fujitsu formed a partner-ship with a subsidiary of Siemens AG of Germany yesterday to work together in global computer services. The agreement will allow Fujitsu to offer its Japanese customers better services in Europe and North America, where Tokyo-based Fujitsu does not have direct opera-tions, while Siemens Busi-ness Services will be able to take advantage of Fujitsu's strength in Asia, both sides said in a statement. The companies will work to-gether in consulting, sys-tems integration and infra-structure management, they said. Siemens Business Services ranks fifth in IT services in Europe and employs 34,500 workers worldwide, according to the company.`
■ Automobiles
Chrysler mulls job cuts
DaimlerChrysler AG's Chrysler unit is considering cutting 4,500 jobs as the US division of the world's fifth-largest carmaker tries to post an operating profit this year, a company spokesman said. A decision hasn't been made yet about the possible reductions, said Thomas Froehlich, a spokesman in Stuttgart, Germany. He was responding to a report in the Financial Times that cited chief financial officer Man-fred Gentz. Chrysler is aiming to boost US sales and lower costs after losing US$1.1 billion in the second quarter because it spent more than expected on rebates and loans to sell its Dodge, Chrysler and Jeep-brand cars and trucks. The com-pany last week said it would offer early-retirement buyouts to skilled trades union workers to cut costs as part of a new four-year contract with the United Auto Workers. Skilled-trades positions include electricians, toolmakers and machine-repair specialists.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source