Posco to invest in China
South Korea's steel giant Posco said its board of directors has decided to invest US$700 million to build a plant in China to meet rising demand for stainless and hot-rolled steel there. Posco said it will begin building the new steel plant at the site of its Chinese joint venture Zhangjiagang Posco Stainless Steel in Jiangsu province, China from 2005. The joint venture firm is 82.5 percent owned by Posco and 17.5 percent by Jiangsu Shangang Group Co of China. Posco said the construction of the new steel plant is scheduled to be completed by the end of 2006 to annually produce 600,000 tonnes of stainless and hot-rolled steel.
QP joins with Shell
State-run Qatar Petroleum and Royal/Dutch Shell signed yesterday a US$5 billion heads of agreement to build a huge plant in the Gulf desert emirate to convert natural gas into liquid fuels. Qatar's Energy Minister Abdullah Hamad Al-Attiya, who is also QP chairman signed with Sir Philip Watts, chairman of Royal Dutch/Shell, at a public ceremony. The accord envisages the construction of a vast gas-to-liquid plant in Qatar to produce naptha and environmentally friendly diesel fuels. According to Qatar's energy ministry the contract would be finalised in the second half of next year. A letter of intent was signed last year. The new plant would aim to produce around 137,000 barrels per day of liquefied fuel.
Iraqi mobile users growing
Iraq will have 5 million mobile subscribers in three years and 8 million in 10 years following the recent award of GSM mobile licences, an industry professional said Tuesday. "With order returning to the mobile phone market in Iraq, the stage is set for an accelerated momentum in cellular services," said Bashar Dahabra, chief executive office of Info2cell.com, one of the regions leading wireless information service providers. "Iraq will witness fast-paced mobile phone penetration in the near future, with subscribers touching 5 million in three years, and 8 million in 10 years, according to conservative estimates," Dahabra said. Iraq awarded Oct. 6 its first nationwide mobile telephone licences to three Arab operators, Orascom, Atheer Tel and Asia Cell, saying it expected the long-awaited GSM service to begin by the end of the month.
HK's jobless rate falls
Hong Kong's unemployment rate has declined further, falling to 8.3 percent as several major business sectors saw a rebound in activity, the government said yesterday. The unemployment rate for the three months to last month fell to 8.3 percent, from 8.6 percent in the three months to August after hitting a record 8.7 percent in the three months to July. Financial secretary Henry Tang said he was pleased to see the jobless rate decline further, saying "the improvement is certainly good news. "However, we are not complacent. Unemployment will continue to be a challenge," he said. According to the goverment, employment gains were seen in a number of major sectors, including notably import/export trade, the wholesale trade, real estate, and amusement and recreational services. At the same time, employment in manufacturing and site construction fell.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
ROAD TO HISTORY: When Lee Teng-hui joined the KMT, the likelihood of a Taiwanese becoming ROC president, much less its first directly elected one, was hard to imagine Lee Teng-hui (李登輝), who was born on Jan. 15, 1923, in the farming community of Sanshi Village, Taihoku Prefecture — now New Taipei City’s Sanzhi District (三芝) — during the Japanese colonial era, and rose to become mayor of Taipei and not only the Republic of China’s (ROC) first Taiwan-born president, but its first directly elected one as well. Educated in the Japanese educational system of the time, Lee, who spoke Japanese, Hoklo (also known as Taiwanese), Mandarin and English, won a scholarship to Kyoto Imperial University, but his studies were interrupted by World War II. He earned a bachelor’s
BRIBERY CASE: President Tsai Ing-wen accepted Su Jia-chyuan’s resignation as he said that he deeply regretted causing trouble for the president due to the investigation Presidential Office Secretary-General Su Jia-chyuan (蘇嘉全) yesterday resigned after his nephew, Democratic Progressive Party (DPP) Legislator Su Chen-ching (蘇震清), was implicated in a bribery case related to a dispute over the ownership of Pacific Sogo Department Store (太平洋崇光百貨). “I resigned from the post so that President Tsai Ing-wen (蔡英文) would not be bothered by it anymore, and the prosecutors can investigate the case in a fair and just manner. I thank President Tsai once again for supporting me. May the country continue to prosper under her leadership,” Su Jia-chyuan said in a statement. The Presidential Office said that Tsai has accepted