■ Aviation
Boeing invests in Huneed
Boeing Co said yesterday it has signed an agreement to make a minority equity investment in Huneed Technologies, a South Korean manufacturer of military communications systems. Terms of the deal, announced in a press release, were not disclosed. Boeing said that the investment is subject to regulatory approval and the transaction is expected to be completed by the end of next month. Boeing said Huneed has experience in battlefield communication radios, Korean cryptographic equipment and software development. Huneed has worked with Boeing in South Korea on the Airborne Early Warning & Control advanced radar system for Boeing 737 aircraft.
■ Paper
Oji shelves takeover bid
Japan's largest paper producer Oji Paper Co plans to drop its hostile bid for rival Hokuetsu Paper Mills Ltd, at least for now, news reports said yesterday. The takeover battle -- started by Oji this month -- is believed to be unprecedented, pitting one Japanese company against another in the same industry. Japan's Asahi Shimbun reported that Oji plans to drop its takeover bid for now because it is unlikely to acquire more than 50 percent of Hokuetsu shares, citing an unnamed Oji official. Kyodo News agency said Oji plans to convey the plan to shareholders at the end of this month. The tender offer bid came a week after Hokuetsu rejected a first merger proposal from Oji and said it would instead go ahead with an previously planned tie-up with trading company Mitsubishi Corp.
■ Environment
S Korea plans green rewards
South Korea plans to offer financial incentives to local companies to encourage them to put more resources into cutting greenhouse gas emissions, the budget and energy ministries said yesterday. The government would start offering financial incentives from next year to companies that cut emissions of carbon dioxide and other greenhouse gases by more than 160 tonnes of oil equivalent a year, they said in a joint statement. "The incentive system will encourage companies to invest early in efforts to cut greenhouse gas emissions," the ministries said. "Such efforts will enhance our position in ongoing global negotiations to make emission cuts mandatory."
■ Coffee
Prices surge on shortage
Coffee prices struck seven-year peaks on London commodity markets last week and will remain volatile owing to stretched global supplies, which could slightly increase the cost of a cup of the popular hot drink, analysts say. In last Friday trading on the LIFFE, London's futures exchange, Robusta quality for November delivery leapt to US$1,502 per tonne, from US$1,460 a week earlier. Prices are surging on the back of lower exports from Vietnam, the world's second-biggest coffee producer, where heavy rain has disrupted harvests. There were also fresh reports last week of damage to stockpiles of the commodity in Italy. The development also lifted the price of Arabica beans which are mainly grown in Brazil, the world's leading coffee producer. "Coffee prices have risen sharply on near-term supply concerns, but an improved Vietnam crop should ease market tightness from November," Standard Chartered analyst Helen Henton said. "However, low stock levels have increased medium-term vulnerability."
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
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
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