■ Telecoms
Nokia sees strong growth
Nokia, the world's leading mobile phone maker, said on Thursday that it expected the global mobile phone market to grow by more than 10 percent next year. The Finnish company also forecast that the number of mobile subscriptions would surpass three billion in 2008, two years earlier than the target date of 2010 it predicted in February. Nokia said it expected "the mobile device industry volumes in 2006 to grow more than 10 percent from the 780 million units we estimate for 2005, and the mobile device market to also grow in value in 2006." The forecasts came as Nokia held its Capital Markets Days in New York on Thursday and yesterday. Regarding its own financial outlook for the next one to two years, Nokia said its operating margin target remained stable at 17 percent.
■ Automotive
Nissan creates smart paint
Nissan Motor said yesterday it had created a paint that repairs scratches on its own, restoring a car's surface to normal within a week. The Japanese automaker said the paint contains a newly developed resin that can stop scratches from marking the car's outer layer. Wear and tear due to everything from fingernails to roadside objects will disappear in one day to one week depending on the temperature and the seriousness of the scratch, Nissan said in a statement. The "Scratch Guard Coat" paint, which protects for three years, will debut on a sports-utility vehicle which is set for a makeover, Nissan said. The paint also helps prevent scratches in the first place.
■ Electronics
Pioneer to cut 600 jobs
Troubled Japanese electronics maker Pioneer Corp will cut 600 jobs in Japan as part of a revival plan that will also better integrate the company's television and audio equipment units, a newspaper reported yesterday. The job cuts will come through early retirements and are in addition to the 2,000 worldwide job cuts Pioneer announced in March, the Nihon Keizai newspaper said, citing a restructuring blueprint that company executives compiled Thursday. Pioneer spokesman Kesanobu Yamagishi would not comment on the report but confirmed that the company is drafting a comeback plan that will be unveiled on Thursday. He could not say whether additional job cuts are being considered.
■ Trade
Trade area gets boost
Seven South Asian countries have finalized an agreement to set up a free trade area, the Indian government said yesterday, a move predicted to more than double the size of the regional market. The landmark deal to create a South Asian Free Trade Area (SAFTA) was signed in Islamabad in January last year during a summit of regional leaders, with this coming January 1 set as a deadline for implem-entation. However the deal by the South Asian Association for Regional Cooperation (SAARC), was expected to become fully operational only by 2016. "The South Asian Free Trade Area (SAFTA) Agreement has been finalized," Commerce Minister Kamal Nath said. The statement was issued after "receiving intimation from Kathmandu about the deliberations of the Committee of Experts on SAFTA which met there from 29th November-1st December 2005 to resolve the outstanding issues ... so as to complete the negotiations," Nath said.
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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