■ Software
CA Inc announces layoffs
Management software firm CA Inc announced on Monday that its profits plummeted 64 percent in its latest fiscal quarter and that it would layoff 1,700 workers worldwide to increase efficiency. The company formerly known as Computer Associates reported US$35 million, or US$0.06 per share, in profit in the quarter ending June 30 as compared to US$97 million, or US$0.16 per share, in the same quarter last year. The layoffs would take place during the coming six months and approximately half of them would be in North America, according to CA, which is based in Islandia, New York.
■ Economics
EEC mulls customs union
Leaders of six ex-Soviet states were to begin a three-day meeting yesterday to discuss proposals for forming a customs union and a common energy market. Russian President Vladimir Putin is hosting the meeting in Sochi, a Black Sea resort city. Attending are the heads of state of Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The countries are members of the Eurasian Economic Community (EEC), a grouping that aims to restore economic ties lost after the 1991 Soviet collapse. Proposals to be discussed include water energy regulation in Central Asia and setting up a Eurasian hydroelectric consortium.
■ Management
Woman to head PepsiCo
PepsiCo Inc said on Monday that chief financial officer Indra Nooyi will replace Steven Reinemund as chief executive officer of the soft-drink and snacks company, making her the No. 2 female CEO in the Fortune 500. With her Oct. 1 appointment, Nooyi takes her place in an elite group of 11 female CEOs running Fortune 500 companies. Patricia Woertz at agricultural processor Archer Daniels Midland Co ranks first. ADM is ranked 56th in the Fortune 500, while PepsiCo, the world's second-largest soft-drink company after Coca-Cola Co, is ranked 61st. Nooyi, 50, has been with the company since 1994 and has been CFO since 2001. She will be the fifth CEO in Pepsi's 41-year history.
■ Airlines
Malaysia to sign EU deal
Malaysia expects to seal an air service agreement with the EU by the end of the year, Transport Minister Chan Kong Choy told a news agency yesterday. Under the pact, European airlines can fly between Malaysia and any of the 25 EU countries. So far, Singapore is the only Asian country to ink such a deal with the EU. The agreement removes nationality restrictions in previous bilateral agreements with individual EU members allowing, for example, a German carrier to fly between Malaysia and London or Paris.
■ Macroeonomics
China's GDP grows 10.4%
China's economy expanded faster than expected in the first six months of this year and the World Bank yesterday has raised its forecast for economic growth to 10.4 percent, up from an earlier estimate of 9.5 percent. China's economy grew 11.3 percent in the second quarter, compared to the same period last year, the highest in over a decade, reported the bank in Beijing. The bank expected economic expansion to slow to 9.3 percent next year. Exports are expected to rise this year 20.8 percent compared to last year, while all imports are expected to reach 18.4 percent, according to the bank.
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