■ Retail
Virgin Megastores pruned
Richard Branson's Virgin Group Ltd plans to shut a third of its Virgin Megastores because of competition from supermarkets and the Internet, the Sunday Express reported, citing unidentified people familiar with the matter. The group, based in London, may close as many as 60 of its 170 stores in the months ahead, the newspaper reported in its financial section. Most of the closures will be from the Megastores Xpress brand, the paper said. Virgin may compensate for the loss in sales by opening larger stores, the paper said. The overhaul is part of plans by Virgin Entertainment, the unit that controls the Megastores, to invest £90 million (US$161 million) to boost business, the newspaper said. Branson plans to start a Virgin Digital service this summer, selling songs to consumers over the Internet at 99 pence apiece, the Financial Sunday Express said.
■ Travel
Discount scheme launched
Southeast Asia's revitalized travel industry has launched a new program called the "Hip-Hop" scheme, which offers airfare, hotel and tour discounts to spur travel within the region amid growing restrictions on entry into the US and the mounting costs of travelling to Europe. Sebastian Lo, executive director of the Kuala Lumpur-based ASEAN Tourism Association, which launched the scheme last month, said it would run until March 25 next year to promote ASEAN as a single destination. For US$399, the Hip-Hop pass offers travellers three flight coupons to two destinations, with travel to begin and end in the country of origin -- such as Singapore-Bangkok-Manila-Singapore. Each additional flight coupon costs US$150, with a maximum purchase of six, for economy-class travel on nine participating airlines, mainly national carriers.
■ Airlines
British Airways to cut fares
British Airways Plc, the No. 2 European airline, plans to cut fares for premium seats on 103 routes by as much as 42 percent in July and August, the Observer reported, citing an unidentified airline spokesman. British Airways, based in London, wants to curb the usual decline in business travel during those months, the newspaper reported. The cuts cover 28 long-haul and 75 European routes. The airline reduced fares by 30 percent on 38 short-haul routes out of London's Gatwick airport a week ago. Prices to Los Angeles and San Francisco will be 42 percent lower, while to New York and Boston they will drop 33 percent. Cape Town fares will be 36 percent less and seats in first class and business class to Miami will drop 37 percent, the newspaper said. There was a 28-percent rise in premium passengers in April compared with the year-earlier period, the Observer said.
■ Resources
Beijing to raise water prices
Beijing plans to raise water prices next year to discourage excess use, the Beijing Youth Daily reported on its Web site, citing Jiao Zhizhong (焦志中), head of the Beijing Water Resources Bureau. China's capital city will raise average water prices to about 6 yuan (US$0.72) next year, and will make users pay more if they exceed a quota, the Internet site said. Beijing is short of water and the government will struggle to ensure adequate water supply, according to the report. Shanghai and Guangzhou are also considering raising water prices, Chinese media have reported.
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
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
SHOT IN THE ARM: The new system can be integrated with Avenger and Stinger missiles to bolster regional air defense capabilities, a defense ministry report said Domestically developed Land Sword II (陸射劍二) missiles were successfully launched and hit target drones during a live-fire exercise at the Jiupeng Military Base in Pingtung County yesterday. The missiles, developed by the Chungshan Institute of Science and Technology (CSIST), were originally scheduled to launch on Tuesday last week, after the Tomb Sweeping Day holiday long weekend, but were postponed to yesterday due to weather conditions. Local residents and military enthusiasts gathered outside the base to watch the missile tests, with the first one launching at 9:10am. The Land Sword II system, which is derived from the Sky Sword II (天劍二) series, was turned