■ Aviation
Market shifting, report says
Asia-Pacific air carriers were advised against relying on "continuing and unquestioning government support" by an aviation consultancy in a published report yesterday. High fuel prices, recent relaxation of the international regulatory structure and national policy trends have passed the point of no return, creating a radical change in the region's aviation market, said the Center for Asia Pacific Aviation (CAPA). Continuing government support is becoming politically unacceptable for most governments, the Sydney-based consultancy said in a statement published in the Business Times. "As a result, more point-to-point route access, more fifth freedom operations and more new entry will be permitted, resulting in further competitive pressures," CAPA said. CAPA also predicted a period of fierce price discounting next year as consumer demand slows in many countries.
■ Telecoms
Ericsson warns of slump
Ericsson, the world's largest supplier of mobile telecommunication systems, yesterday reported third-quarter earnings slightly ahead of forecasts, but warned that the world systems market would show only moderate growth this year and next. The Swedish company booked a net profit of 5.3 billion kronor (US$672 million) for the three months through last month, up from 4.3 billion the same period a year earlier. Pretax profit was 8 billion kronor, compared with financial market expectations of 7.9 billion, and a 6.4 billion profit a year earlier. "The market continues to show good development with growth in mobile voice and data, broadband and in emerging markets in general," Chief executive Carl-Henric Svanberg said.
■ Semiconductors
Toshiba to up investment
Japan's Toshiba Corp. said yesterday it will boost semiconductor capital investment this fiscal year to a record ¥225 billion (US$1.95 billion) on surging demand for high-capacity flash memory chips. Toshiba has decided to increase the capital investment by about 33 percent to meet rising demand for NAND-type flash memory chips, used for such products as Apple's hugely popular iPod. "We have decided to increase our capital investment plan from the original ¥169 billion to ¥225 billion [for the year to March 2006], mainly to increase production at our Yokkaichi factory," in central Japan, a spokesman said.
■ Telecoms
India raises ownership cap
India's Cabinet Thursday gave formal approval to raise the limit on foreign company ownership of telecoms companies to 74 percent from 49 percent, a senior minister said. "The Cabinet has cleared the proposal to hike foreign direct investment [FDI] in the telecom sector to 74 percent to meet the funding needs of the growing industry," S. Jaipal Reddy, Minister for Information and Broadcasting, told reporters after a Cabinet meeting. India has emerged as the world's second-fastest growing mobile phone market after China and it has an ambitious target of adding some 200-250 million users by 2007, compared with about 55 million now. This breakneck expansion would require investment of nearly 1.5 trillion rupees (US$34 billion), according to the telecommunications ministry. US-based bank Morgan Stanley says India's mobile market is expected to grow at 40 percent a year until 2007.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique