■ Semiconductors
Sales rose 37% in April
Global semiconductor sales rose 37 percent in April from a year earlier to the highest level since July 2000, helped by higher demand for chips used in mobile phones and personal computers, the Semiconductor Industry Association said. Sales were US$16.94 billion in the month, the industry group said in a statement released on Business Wire. Worldwide chip sales rose 4.1 percent from US$16.28 billion in March, San Jose, California-based SIA said. "The fundamentals are in place for strong growth through the remainder of the year, and it is likely that growth for 2004 will significantly surpass last fall's forecast of 19 percent growth," SIA president George Scalise said in the statement.
■ Television
TVB cuts jobs
Television Broadcast Ltd, Hong Kong's dominant TV network, said yesterday it had slashed between 25 and 30 jobs as part of a restructuring. The latest job cuts occurred in the art, construction, production and security departments, said Winnie Ho, a TVB spokeswoman. TVB cut 30 jobs in February. TVB employs more than 3,000 staff and is trying to merge different departments, she said. "We are constantly reviewing our operations," Ho said, adding that the company may hire production staff later this year. She dismissed as a "rumor" a local newspaper report Tuesday that said the broadcaster plans to slash another 100 jobs after the Olympics in Athens, Greece in August. The report cited an unidentified TVB employee.
■ Airlines
Ryanair profits fall
Budget airline Ryanair posted a 5 percent drop in net profits yesterday, blaming increased price competition and the weakness of the British pound for the fall. Net profit before goodwill and exceptional items fell to 226.6 euros (US$280 million) for the year ended March 31. The airline has been slashing ticket prices to meet the competition and said it carried more than 23 million passengers over the year, up 47 percent from the previous year. "This year was characterized by adverse market conditions including sterling weakness, the war in Iraq, the threat of terrorist attacks, significantly higher oil prices, and intense price competition all over Europe from chronically loss making flag and new entrant carriers," said Ryanair's chief executive Michael O'Leary.
■ Airlines
Hong Kong agrees charges
Cathay Pacific Airways, Dragonair and nine other airlines have been given permission to levy surcharges on passengers traveling on flights into and out of Hong Kong to cover surging fuel prices, a government spokeswoman said yesterday. Civil Aviation Department spokeswoman Sandra Lai said the government has permitted Cathay to charge passengers US$5 each way for flights within Asia and US$14 for flights to other destinations. Dragonair and three Chinese airlines -- China Eastern, China Southern and Air China -- can collect US$5.40 per flight from each passenger, regardless of its length. The six other airlines that won approval Monday were Australian Airlines, Qantas Airways, Virgin Atlantic Airways, Emirates Airlines, Air India and Gulf Air. Their surcharges will range from US$4 to US$10.70.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
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