■ 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.
NATIONAL SECURITY THREAT: An official said that Guan Guan’s comments had gone beyond the threshold of free speech, as she advocated for the destruction of the ROC China-born media influencer Guan Guan’s (關關) residency permit has been revoked for repeatedly posting pro-China content that threatens national security, the National Immigration Agency said yesterday. Guan Guan has said many controversial things in her videos posted to Douyin (抖音), including “the red flag will soon be painted all over Taiwan” and “Taiwan is an inseparable part of China,” while expressing hope for expedited “reunification.” The agency received multiple reports alleging that Guan Guan had advocated for armed reunification last year. After investigating, the agency last month issued a notice requiring her to appear and account for her actions. Guan Guan appeared as required,
A strong cold air mass is expected to arrive tonight, bringing a change in weather and a drop in temperature, the Central Weather Administration (CWA) said. The coldest time would be early on Thursday morning, with temperatures in some areas dipping as low as 8°C, it said. Daytime highs yesterday were 22°C to 24°C in northern and eastern Taiwan, and about 25°C to 28°C in the central and southern regions, it said. However, nighttime lows would dip to about 15°C to 16°C in central and northern Taiwan as well as the northeast, and 17°C to 19°C elsewhere, it said. Tropical Storm Nokaen, currently
‘NATO-PLUS’: ‘Our strategic partners in the Indo-Pacific are facing increasing aggression by the Chinese Communist Party,’ US Representative Rob Wittman said The US House of Representatives on Monday released its version of the Consolidated Appropriations Act, which includes US$1.15 billion to support security cooperation with Taiwan. The omnibus act, covering US$1.2 trillion of spending, allocates US$1 billion for the Taiwan Security Cooperation Initiative, as well as US$150 million for the replacement of defense articles and reimbursement of defense services provided to Taiwan. The fund allocations were based on the US National Defense Authorization Act for fiscal 2026 that was passed by the US Congress last month and authorized up to US$1 billion to the US Defense Security Cooperation Agency in support of the
PAPERS, PLEASE: The gang exploited the high value of the passports, selling them at inflated prices to Chinese buyers, who would treat them as ‘invisibility cloaks’ The Yilan District Court has handed four members of a syndicate prison terms ranging from one year and two months to two years and two months for their involvement in a scheme to purchase Taiwanese passports and resell them abroad at a massive markup. A Chinese human smuggling syndicate purchased Taiwanese passports through local criminal networks, exploiting the passports’ visa-free travel privileges to turn a profit of more than 20 times the original price, the court said. Such criminal organizations enable people to impersonate Taiwanese when entering and exiting Taiwan and other countries, undermining social order and the credibility of the nation’s
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