■ Vehicle safety
Motorcycle airbag produced
Honda Motor Co has developed airbags for motorcycles that the Japanese automaker says is the first of its kind in the world for production motorcycles. The airbag, which inflates after sensors detect an oncoming crash, will be available on the new Gold Wing motorcycle that will go on sale in spring next year in the US, Honda said yesterday. The airbag opens in front of the riders and reduces the speed at which they get thrown off the motorcycle, lessening injuries when they hit the road or another vehicle, it said.
PHOTO: AFP
■ Economics
China, India to drive growth
Developing Asian economies should grow by 6.6 percent this year despite surging oil prices that will clip prospects in Southeast Asia, the Asian Development Bank (ADB) said yesterday. China and India will carry the region over the next two years with international trade and financial conditions expected to remain favorable for Asian exports as well as investments into the region, the Philippines-based lender said in a report. It upgraded the GDP forecast for China by 0.7 of a percentage point to 9.2 percent this year and by 0.1 point to 8.8 percent next year. India's 2006 GDP forecast rose by 0.7 percentage points to 6.8 percent, while the bank's forecast for the country for this year was unchanged at 6.9 percent. For developing Asia as a whole, the Asian Development Outlook report upgraded its GDP forecast for this year by 0.1 point to 6.6 percent this year, while maintaining its 6.6 forecast for next year.
■ Restaurants
Burger King targets China
US fast-food chain Burger King plans to have 1,000 stores in China by 2015, moving onto turf long dominated by rivals McDonald's and Kentucky Fried Chicken, senior executives were quoted as saying yesterday. Steve DeSutter, president of Burger King's Asia-Pacific business, said most of the stores will be franchises, the National Business Daily reported. Burger King opened its first restaurant in China in Shanghai at the end of June. Figures from the China Chain Store Franchise Association show McDonald's already has about 700 outlets in China and has pledged to have 1,000 by 2008.
■ Banking
HSBC to sell collection unit
HSBC Holdings Plc, Europe's largest bank by market value, agreed to sell a 56 percent share of its Asian credit card payment-collection unit to Global Payments Inc to gain technology and cut costs. Global Payments, based in Atlanta, will pay HSBC US$67.2 million for the stake in its Asian and Pacific unit, which collects credit card payments from 40,000 stores in 10 countries, the two companies said yesterday in a statement. London-based HSBC will retain a 44 percent stake in the company. "The joint venture will have the benefit of HSBC's large and extensive footprint in the region as well as Global Payments' technological expertise," said Michael Smith, chief executive of HSBC's Hongkong and Shanghai Banking Corp Ltd. Countries covered by joint venture include Hong Kong, India, China, Malaysia and Taiwan.
CLOSURES: Several forest recreation areas have been closed as a precaution, while some ferry and flight services have been suspended or rescheduled A land warning for Tropical Storm Danas was issued last night at 8:30pm, as the storm’s outer bands began bringing heavy rain to southeastern regions, including Hualien and Taitung counties, and the Hengchun Peninsula (恆春半島), according to the Central Weather Administration (CWA). As of 9:15pm, the storm was approximately 330km west-southwest of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost tip, moving north-northeast at 10-20kph, the CWA reported. A sea warning had already been issued at 8:30am yesterday. The storm had maximum sustained winds near its center of 83kph, with gusts of up to 108kph, according to the CWA. As of 9:30pm last night, Kaohsiung, Tainan,
POWERFUL DETERRENT: Precision fire and dispersed deployment of units would allow Taiwanese artillery to inflict heavy casualties in an invasion, a researcher said The nation’s military has boosted its self-defense capability with the establishment of a new company equipped with the US-supplied High Mobility Artillery Rocket System (HIMARS). The company, part of the army’s 58th Artillery Command, is Taiwan’s first HIMARS unit. Minister of National Defense Wellington Koo (顧立雄), who presided over the formation ceremony in Taichung on Friday, called the unit a significant addition to the nation’s defensive strength, saying it would help deter adversaries from starting a war. The unit is made up of top-performing soldiers who received training in the US, according to the Ministry of National Defense. The HIMARS can be equipped with
UNILATERAL: The move from China’s aviation authority comes despite a previous 2015 agreement that any changes to flight paths would be done by consensus The Mainland Affairs Council (MAC) yesterday slammed Beijing for arbitrarily opening the M503 flight route’s W121 connecting path, saying that such unilateral conduct disrespected the consensus between both sides and could destabilize the Taiwan Strait and the wider region. The condemnation came after the Civil Aviation Administration of China (CAAC) earlier yesterday announced it “has activated the W121 connecting path of the M503 flight route,” meaning that west-to-east flights are now permitted along the path. The newly activated west-to-east route is intended to “alleviate the pressure caused by the increase of flights,” China’s state-run Xinhua news agency quoted China’s Taiwan Affairs Office
STRONG WINDS: Without the Central Mountain Range as a shield, people should be ready for high-speed winds, CWA weather forecaster Liu Yu-chi said Danas was yesterday upgraded to a typhoon and could grow stronger as it moves closely along the nation’s west coastline, the Central Weather Administration (CWA) said. Hsinchu and Chiayi cities, Taichung, Tainan and Kaohsiung, as well as Hsinchu, Miaoli, Changhua, Yunlin, Nantou, Chiayi, Penghu and Pingtung counties have canceled work and school today. Work and school in Keelung, Taipei, New Taipei City and Taoyuan, and Yilan, Taitung, Hualien, Kinmen and Lienchiang (Matsu) counties would continue as usual, although offices and schools would be closed in Taoyuan’s Luju (蘆竹), Dayuan (大園), Guangyin (觀音) and Sinwu (新屋) districts. As of 5pm yesterday, the typhoon’s
RSS