■ Tourism
Visitors flock to Hong Kong
Hong Kong has seen a record 15.75 million visitors in the first nine months of the year, more than for the whole of last year, tourism officials said yesterday. The former British colony has seen a surge of 52 percent year-on-year in visitor arrivals and is on course to book more than 20 million visitors for this year. The sharp rise is aided by the easing of restrictions on visitors from China coming to the territory. Visitors from China now account for more than half of tourist arrivals in Hong Kong, with 8.9 million crossing the border from January through September.
■ Computers
Lenovo bids for IBM plant
Lenovo Group Ltd (聯想) is in talks to buy IBM China Co Ltd's notebook and server factory in the southern Chinese city of Shenzhen, the Beijing Morning Post said, citing unidentified people close to both companies. The companies could agree on the transaction as early as the end of this year, the report said. At issue is the selling price, which the paper reported is about US$90 million. Beijing-based Lenovo hopes to strengthen its notebook sales by acquiring IBM technology through the acquisition, the report said. A decision will be made no later than March, the paper said. Officials of Lenovo, China's biggest maker of personal computers, didn't answer phone calls seeking comment. IBM officials were also not immediately available for comment.
■ Economics
Japan data show contraction
Japan's index of leading economic indicators fell below the boom-or-bust line in September for the first time in 18 months, the government said yesterday, suggesting the world's second-largest economy may be slowing. The leading index stood at 30 in September, below the key 50 level and down from 72.2 in August, the Cabinet Office said. A level above 50 indicates economic expansion over the next three to six months while a reading below 50 suggests contraction. Of the leading indices, industrial output inventories, the Tokyo Stock Exchange index and the outlook for small firms remained weak while final demand inventories, new job offers and durable goods shipments were negative. The coincident index, which measures the current state of the economy, stood at 22.2 in September, below 50 for the second consecutive month. Indices for industrial output and large-lot electricity use remained negative while commercial sales turned weaker in September.
■ Telecoms
Verizon to buy air licenses
Verizon Communications Inc, the largest US telephone company, agreed to pay US$3 billion for airwave licenses from NextWave Telecom Inc so its mobile-phone division can send more calls in 23 cities, including New York. Verizon Wireless, the No. 2 US mobile-phone operator, will acquire the assets as NextWave exits Chapter 11 bankruptcy. The move will help Verizon Wireless expand in an area that covers 73 million people, the Bedminster, New Jersey-based company said in a statement. NextWave's licenses will help Verizon Wireless offer a wider range of mobile-phone services, including video and Internet access, after adding a record number of subscribers in the third quarter. Chief Executive Dennis Strigl is upgrading his network and bolstering call capacity to win back the No. 1 spot in the US$90 billion US cellphone market from Cingular Wireless LLC.
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
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