Posco to invest in China
South Korea's steel giant Posco said its board of directors has decided to invest US$700 million to build a plant in China to meet rising demand for stainless and hot-rolled steel there. Posco said it will begin building the new steel plant at the site of its Chinese joint venture Zhangjiagang Posco Stainless Steel in Jiangsu province, China from 2005. The joint venture firm is 82.5 percent owned by Posco and 17.5 percent by Jiangsu Shangang Group Co of China. Posco said the construction of the new steel plant is scheduled to be completed by the end of 2006 to annually produce 600,000 tonnes of stainless and hot-rolled steel.
QP joins with Shell
State-run Qatar Petroleum and Royal/Dutch Shell signed yesterday a US$5 billion heads of agreement to build a huge plant in the Gulf desert emirate to convert natural gas into liquid fuels. Qatar's Energy Minister Abdullah Hamad Al-Attiya, who is also QP chairman signed with Sir Philip Watts, chairman of Royal Dutch/Shell, at a public ceremony. The accord envisages the construction of a vast gas-to-liquid plant in Qatar to produce naptha and environmentally friendly diesel fuels. According to Qatar's energy ministry the contract would be finalised in the second half of next year. A letter of intent was signed last year. The new plant would aim to produce around 137,000 barrels per day of liquefied fuel.
Iraqi mobile users growing
Iraq will have 5 million mobile subscribers in three years and 8 million in 10 years following the recent award of GSM mobile licences, an industry professional said Tuesday. "With order returning to the mobile phone market in Iraq, the stage is set for an accelerated momentum in cellular services," said Bashar Dahabra, chief executive office of Info2cell.com, one of the regions leading wireless information service providers. "Iraq will witness fast-paced mobile phone penetration in the near future, with subscribers touching 5 million in three years, and 8 million in 10 years, according to conservative estimates," Dahabra said. Iraq awarded Oct. 6 its first nationwide mobile telephone licences to three Arab operators, Orascom, Atheer Tel and Asia Cell, saying it expected the long-awaited GSM service to begin by the end of the month.
HK's jobless rate falls
Hong Kong's unemployment rate has declined further, falling to 8.3 percent as several major business sectors saw a rebound in activity, the government said yesterday. The unemployment rate for the three months to last month fell to 8.3 percent, from 8.6 percent in the three months to August after hitting a record 8.7 percent in the three months to July. Financial secretary Henry Tang said he was pleased to see the jobless rate decline further, saying "the improvement is certainly good news. "However, we are not complacent. Unemployment will continue to be a challenge," he said. According to the goverment, employment gains were seen in a number of major sectors, including notably import/export trade, the wholesale trade, real estate, and amusement and recreational services. At the same time, employment in manufacturing and site construction fell.
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
MISTAKE: The Global Covenant of Mayors for Climate and Energy is not a UN body, and the government is committed to protecting the nation’s name, Joseph Wu said The Ministry of Foreign Affairs yesterday condemned the Global Covenant of Mayors for Climate and Energy for listing Taiwanese cities as belonging to China on its Web site, and asked that it correct the error. The organization was inaugurated in Brussels in 2016 as a global coalition of mayors committed to reducing greenhouse gas emissions. Six Taiwanese cities at the time joined the coalition as cities in “Taiwan,” the ministry said. However, officials from the Kaohsiung City Government — one of the organization’s members — last week noticed that the city was now listed on the organization’s Web site as a