■AUTOMOBILES
Electric cars booming
Nissan chief executive Carlos Ghosn says the automaker has received 13,000 orders in the US and Japan for its new electric car, the Leaf, exceeding production capacity. Ghosn said yesterday the company was seeking to add capacity to meet demand. The first models of the zero-emissions Leaf will be delivered to customers in December. Ghosn said he was bullish about Nissan’s future as demand grows in emerging markets like China, and consumers warm to electric cars.
■ELECTRONICS
Pioneer net loss down
Japanese electronics maker Pioneer Corp said yesterday its net loss had narrowed by more than 50 percent on-year thanks to cost cutting, and forecast a return to profit in the year to March next year. Pioneer, scrambling to tackle its poor financial health, has quit the television business and slashed 10,000 jobs. In March, it completed a 4.5 percent stake sale to Honda Motor for ¥2.5 billion (US$26.88 million). Pioneer said its group net loss contracted to ¥58.3 billion for the fiscal year from ¥130.5 billion a year earlier. For the year to March next year, the company forecast a net profit of ¥11 billion on sales of ¥480 billion.
■SUPERMARKETS
Sainsbury profits soar
British supermarket chain Sainsbury said yesterday that profits more than doubled in 2009-2010, as new floor space and non-food products boosted the group despite tough trading conditions. Net profit soared to £585 million (US$865 million) in the year to March 20, compared with £289 million in the previous fiscal year. Sales rose 5.6 percent to £19.964 billion. Chief executive Justin King warned that the trading environment would remain “challenging” for the time being.
■TELECOMS
SingTel profit rises 12%
Southeast Asian leader Singapore Telecom (SingTel) said yesterday its net profit rose 12 percent in the fourth quarter to March from a year earlier on strong performances at home and by its associates. SingTel, which has business footprints across the Asia-Pacific region, said net profit in the three months to March was S$1.02 billion (US$740 million), beating market expectations. Fourth quarter revenue totaled S$4.47 billion, up 25.4 percent on last year. For the full year ended on March 31, SingTel earned S$3.91 billion on revenue of S$16.87 billion.
■JAPAN
Account surplus surges
The current account surplus in March surged by 65.1 percent from a year ago, thanks to a strong rise in exports outpacing the growth of imports, the finance ministry said yesterday. The surplus in the current account — the broadest measure of trade with the rest of the world —reached ¥2.53 trillion, up ¥999.6 billion from a year ago. Exports rose 45.4 percent to ¥5.71 trillion, while imports rose 22.0 percent to ¥4.63 trillion.
■UNITED STATES
Trade deficit widens
The trade deficit struck a 15-month high in March, the government said on Wednesday, as growth in both exports and imports suggested economic recovery is gaining steam. The trade deficit widened for the second consecutive month in March to US$40.4 billion, an increase of 2.5 percent from February’s downwardly revised US$39.4 billion, the US Commerce Department 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
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