■ Telecoms
Cellphone sales up 17%
Mobile-phone sales rose 17 percent to 180.6 million units worldwide in the first quarter from the year-earlier period, driven by consumer demand for camera phones and special offers, the San Francisco Chronicle said today. Finland's Nokia OYJ remains the world's largest manufacturer with an estimated 30.4 percent of the market in the first quarter, the newspaper said, citing a report by market research firm Gartner Inc. Motorola Inc was second with 16.8 percent, followed by Samsung Electronics Co with 13.3 percent. Siemens AG, which has been losing market share, was in fifth place, capturing 5.5 percent of the market, the paper said.
■ Aviation
Cathay pilots drop suit
Many of the 51 Cathay Pacific pilots fired in 2001 who were suing the airline have agreed to drop their legal action in exchange for payments, the airline said yesterday. The pilots were sacked in July 2001 after cockpit crews protested over wages and scheduling, costing Cathay millions of dollars. Cathay Pacific Airways Ltd spokeswoman Carolyn Leung declined to say exactly how many accepted the management's offer of 10 months' severance pay and the chance to reapply for jobs with the carrier.
■ China banking
Bank removes two officials
Scandal-riddled China Construction Bank (中國建設銀行) has removed two senior officials in a bid to present a clean image to potential investors ahead of a planned overseas share sale, state media reported yesterday. The heads of two provincial branches have left office to take the blame for financial crimes and irregularities that happened at outlets under their jurisdiction, the Xinhua news agency reported. Xinhua did not specify what irregularities had reportedly taken place on their watch. The bank has been extra sensitive to suspicions of wrongdoing after its former chairman Zhang Enzhao (張恩照) stepped down amid media reports of corruption earlier this year.
■ China economy
Futures, index possible
China may launch share index and treasury bond futures to make it easier for investors to hedge risk, state media reported yesterday. The go-ahead for financial derivatives will depend on how well the market develops for existing futures in a limited range of commodities, Xinhua news agency said, citing the China Securities Regulatory Commission (CSRC). While the CRCS is warming to the idea of futures, it plans to keep tight controls on the industry, vowing to improve supervision, according to Xinhua.
■ Transportation
Mitsubishi wins contract
Mitsubishi Corp, Japan's biggest trading company, won a US$3.4 billion contract to build a light-rail network in Dubai, the first urban commuter metro in the Persian Gulf sheikhdoms where record oil revenue is spurring growth. Tokyo-based Mitsubishi will lead a group of companies that includes Japan's Obayashi Corp and Kajima Corp to build the project, digging a 9.7km-long tunnel, laying almost 72.4km of rail line through the city. "We are very excited about this project and what it will bring to Dubai," Qassim Sultan, director of Dubai Municipality, said at a press conference in Dubai yesterday.
TECH EFFECT: While Chiayi County was the oldest region in the nation, Hsinchu county and city, home of the nation’s chip industry, were the youngest, the report showed Seven of the nation’s administrative regions, encompassing 57.2 percent of Taiwan’s townships and villages, became “super-aged societies” in June, the Ministry of the Interior said in its latest report. A region is considered super-aged if 20 percent of the population is aged 65 or older. The ministry report showed that Taiwan had 4,391,744 people aged 65 or older as of June, representing 18.76 percent of the total population and an increase of 1,024,425 people compared with August 2018. In June, the nation’s elderly dependency ratio was 27.3 senior citizens per 100 working-aged people, an increase of 7.39 people over August 2018, it said. That
‘UNITED FRONT’: The married couple allegedly produced talk show videos for platforms such as Facebook and YouTube to influence Taiwan’s politics A husband and wife affiliated with the China Unification Promotion Party (CUPP) were indicted yesterday for allegedly receiving NT$74 million (US$2.32 million) from China to make radio and digital media propaganda to promote the Chinese government’s political agenda and influence the outcome of Taiwan’s elections. Chang Meng-chung (張孟崇) and his wife, Hung Wen-ting (洪文婷), allegedly received a total of NT$74 million from China between 2021 and last year to promote candidates favored by Beijing, contravening the Anti-Infiltration Act (反滲透法) and election laws, the Chiayi District Prosecutors’ Office said. The couple acted as Beijing’s propaganda mouthpiece by disparaging Hong Kong democracy activists
EARLY ARRIVALS: The first sets of HIMARS purchased from the US arrived ahead of their scheduled delivery, with troops already training on the platforms, a source said The Ministry of National Defense (MND) yesterday said it spotted 35 Chinese military aircraft, including fighters and bombers, flying to the south of Taiwan proper on the way to exercises in the Pacific, a second consecutive day it has reported such activities. The Chinese Ministry of National Defense did not respond to a request for comment on the missions, reported just days before tomorrow’s US presidential election. The US is bound by law to provide Taiwan with the means to defend itself. Its arms sales to Taipei include a US$2 billion missile system announced last month. The MND said that from 9am yesterday,
A Control Yuan member yesterday said he would initiate an investigation into why the number of foreign nationals injured or killed in traffic incidents has nearly doubled in the past few years, and whether government agencies’ mechanisms were ineffective in ensuring road safety. Control Yuan member Yeh Ta-hua (葉大華) said in a news release that Taiwan has been described as a “living hell for pedestrians” and traffic safety has become an important national security issue. According to a National Audit Office report released last year, more than 780,000 foreign nationals were legally residing in Taiwan in 2019, which grew to more than