Hugo Boss mulls jewelry
German fashion house Hugo Boss is considering launching its own jewelry collection for both men and women, chairman Bruno Saelzer said in a newspaper interview published yesterday. "We're in the process of examining a move into the jewelry business. We're already quite far advanced," Saelzer told the Financial Times Deutschland. "Jewelry makes sense for women, but also increasingly for men. Men are increasingly open for jewelry," he added.
Palm oil giant takes shape
Three Malaysian plantation firms will merge to create the world's largest listed palm oil business, worth 31.4 billion ringgit (US$8.6 billion), under a plan announced yesterday. A new vehicle, Synergy Drive, will buy the assets and liabilities of Sime Darby Bhd, Golden Hope Plantations Bhd and Kumpulan Guthrie Bhd, Malaysia's top investment bank CIMB said. Analysts said the merger will boost the country's status as a top palm oil producer amid growing regional competition.
Yuan marks new high
China's currency rose to a fresh high against the US dollar yesterday, as the central bank set its rate at 7.8402 yuan per US dollar, the highest level since the current exchange system was set up in July last year. Traders said the US dollar's slide to a 19-month low against the euro in international markets on Friday might have helped trigger the US unit's slip against the yuan. The US dollar was at 7.8423 at around 7:30 GMT, down from Friday's close of 7.8525. On the automatic price-matching system, another way of measuring the exchange rate, it was at 7.8413 at 7:20 GMT. China allows the US dollar-yuan rate to move no more than 0.3 percent above or below the daily parity rate. Beijing has allowed the yuan's value to rise by about 3.3 percent since it revalued the currency in July last year, severing the yuan's virtual peg with the US dollar.
■ Digital cameras
Sony offers limited recall
Sony Corp expects only a small number of its digital cameras to be affected by the glitch announced last week, a spokesman said yesterday. Sony said on Friday that some Cyber-shot camera users may have problems viewing images when trying to take photographs due to a glitch with the image sensor. The affected cameras were sold between September 2003 and January last year, the electronics giant said. "Of the eight models affected, if the problems appear we will implement a free repair and exchange service," a Sony spokesman said.
Paris wants EADS control
The French government is seeking to take control of European aerospace giant EADS by pushing for a capital increase to finance development of the new A350 long-haul jet, German newspapers reported yesterday. Paris surprised the industrial shareholders of the European Aeronautic Defense and Space Co -- namely DaimlerChrysler which holds a stake of 22.5 percent and French group Lagardere which holds 7.5 percent -- by proposing a capital hike to finance the A350, the business daily Handelsblatt reported. It said that DaimlerChrysler and Lagardere both rejected the idea. But if the capital increase went ahead and they refused to participate, then France, which holds 15 percent of EADS via Sogeade, would effectively gain a dominant position in the company's share capital.
EFFICIENCY: The rules for Philippine arrivals were revised after 17.6% of arrivals with symptoms tested positive, compared with 0.7% of those with no symptoms Starting today, Chinese spouses who hold a reunion permit can apply to enter Taiwan and travelers without symptoms from the Philippines do not need to be tested for COVID-19 upon arrival, but are to be tested after a 14-day quarantine, the Central Epidemic Command Center (CECC) said yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that from today, Chinese who are married to a Taiwanese citizen and hold a reunion permit can apply to the National Immigration Agency for entry into Taiwan. Chinese who are married to a foreign national and hold an accompanied reunion permit
PENGHU INSPECTION: Taiwan cannot let its enemies strut around in its airspace, Tsai said, one day after a Chinese spokesman denied a median line exists in the Taiwan Strait Following China’s assertion on Monday that there is no “median line” in the Taiwan Strait, President Tsai Ing-wen (蔡英文) yesterday pledged to defend the nation’s airspace during a visit to an air force base in Penghu, saying that Taiwan cannot allow others to flex their military muscle in its territorial airspace. Tsai praised the “heroic performance” of the pilots of the Indigenous Defense Fighters who have been intercepting Chinese People’s Liberation Army Air Force planes in recent days. “I have a lot of confidence in you. As soldiers of the Republic of China [ROC], how could we let enemies strut
CONSOLIDATION? Taiwan Thinktank deputy executive-general Doong Sy-chi said Beijing’s intimidation tactics are further alienating those who identify as Chinese Only 2 percent of respondents to a poll on constitutional amendments and national identity identified as Chinese, while 62.6 percent identified as Taiwanese, the Taiwan Thinktank said yesterday. Legislators have proposed amendments to the Additional Articles of the Constitution (憲法增修條文), which would change the definition of the nation’s territory, remove the Taiwan Provincial Government as an entity, prioritize the use of “Taiwan” for national groups at international events, and remove restrictions on defining the national emblem, national flag and national anthem. The poll showed that 80.5 percent of respondents agreed that the nation should participate as “Taiwan” at events organized by world
BALANCED DEVELOPMENT: TSMC chairman Mark Liu said the firm is committed to local investment: a third in the north, a third in the center, a third in the south Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday said that, based on its strategy of balancing capacity, it plans to make northern Taiwan its manufacturing hub for advanced technologies that go beyond 2 nanometers. “As the company is committed to investing in Taiwan, we try to deploy one-third [of our total production capacity] in the north and have one-third each in the center and south” of the nation, TSMC chairman Mark Liu (劉德音) told reporters on the sidelines of Semicon Taiwan’s Master Forum in Taipei. TSMC last year reached its goal of deploying capacity equally across those parts