■ Central Banking
BOJ favors rate hike
Bank of Japan Governor Toshihiko Fukui wants to raise interest rates early but gradually, warning there is a risk of not moving soon enough to fend off inflation, a report said yesterday. "I will handle [rates] quickly and gradually," Fukui said in an interview with the Yomiuri Shimbun. "If we fail to adjust policy, worrying too much about the downside risk to the economy, we will rather create more risk."
■ Aviation
AirAsia wants more planes
Low-cost aviation pioneer AirAsia Bhd plans to accelerate its fleet expansion to accommodate a rapid increase in passenger traffic, the airline's group chief executive, Tony Fernandes, said yesterday. Fernandes told the Aviation Outlook industry conference that he expected AirAsia to carry 16 million passengers in the fiscal year ending next June, up from 9.31 million in the last fiscal year. The carrier has ordered 100 Airbus A320s, has options
on another 30 and is considering buying yet more planes, Fernandes said. "We could do with a lot more aircraft," he said.
■ Food
Nissin rescues Myojo
Japanese instant noodle giant Nissin Food Products is in tie-up talks with Myojo Foods in order to fend off a hostile takeover bid by a US fund for its rival, a report said yesterday. If an agreement is reached, Nissin will likely launch a friendly offer for Myojo to trump a hostile approach by Steel Partners Japan Strategic Fund for Myojo, the Nihon Keizai Shimbun said without citing sources. Nissin, known for its flagship Cup Noodle products, has emerged as a "white knight" after Myojo sought its help to fend off an unwanted suitor, the report said.
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
BULLY TACTICS: Beijing has continued its incursions into Taiwan’s airspace even as Xi Jinping talked about Taiwan being part of the Chinese family and nation China should stop its coercion of Taiwan and respect mainstream public opinion in Taiwan about sovereignty if its expression of goodwill is genuine, the Ministry of Foreign Affairs (MOFA) said yesterday. Ministry spokesman Jeff Liu (劉永健) made the comment in response to media queries about a meeting between former president Ma Ying-jeou (馬英九) and Chinese President Xi Jinping (習近平) the previous day. Ma voiced support for the so-called “1992 consensus,” while Xi said that although the two sides of the Taiwan Strait have “different systems,” this does not change the fact that they are “part of the same country,” and that “external
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