■ Steel
ThyssenKrupp drops out
German steel company ThyssenKrupp AG, the world's 10th-largest steelmaker, dropped out of bidding for Dofasco Inc, clearing the way for Luxembourg-based Arcelor SA to triumph with its proposal. "The executive board of ThyssenKrupp has decided not to submit a higher offer to purchase Dofasco Inc, as an offer of more than C$68 (US$59) per share would go beyond the point of creating economic value," ThyssenKrupp said in a statement on Monday.
■ Airlines
Airbus may open PRC plant
European aircraft maker Airbus is leaning toward building an assembly line for single-aisle aircraft in China, with a decision expected by mid-year, a report said yesterday, citing company chief executive officer Gustav Humbert. The Toulouse, France-based company is conducting a feasibility study, with help from the government and local companies, on an Airbus joint venture that would turn out four A320 series aircraft a month, the state-run newspaper China Daily reported.
■ Semiconductors
Japan to tax Hynix chips
Japan said it will impose import duties on computer memory chips made by South Korea's Hynix Semiconductor Inc in retaliation for alleged illegal government subsidies, the finance minister said yesterday. The move was initially announced on Friday pending official Cabinet approval, which was granted yesterday, Finance Minister Sadakazu Tanigaki told reporters. The 27.2 percent tariff will apply on all DRAM chips manufactured by Hynix in South Korea starting Jan. 27 for five years, Tanigaki said. This is the first time Tokyo will impose tariffs to counter alleged subsidies by a foreign government.
■ Travel
Chinese guides planned
The miracle economy is not a one-way street: 100 million Chinese are expected to be taking foreign holidays by 2020. "China is the new tiger in the tourism playground," says Australian Tourism Minister Fran Bailey. "It has the potential to do what Japan did for us in the 1980s." With China set to become the world's fourth largest source of outbound travelers by 2020, the market for guidebooks is set to soar. On the ground floor is Lonely Planet, which in January signed a contract with Chinese publishing house SDX to print Chinese-language versions of the world famous Lonely Planet travel guides. First on the shelves will be guidebooks for top destinations like Australia, Germany and Britain.
■ Drugs
Holland hosts `grass' show
Marijuana growers gathered in Europe's pot-smoking capital on Sunday for a trade show that is taking on the trappings of a major industry fair, complete with scantily clad models, glossy brochures and, of course, samples. But instead of posing next to muscle cars, the models explained the intricacies of hydroponics culture such as the "iGrow-box Intensive Irrigation System" and exhibitors showed off their bongs, grinders, rolling paper, reflective film, hemp-fabric apparel and how-to marijuana growing videos. Andre Beckers, the organizer of the International Highlife Hemp Fair, said he was expecting 15,000 to 20,000 visitors at the fair, held for the first time in Amsterdam instead of Utrecht, a smaller Dutch city to the southeast of the capital.
DEFENDING DEMOCRACY: Taiwan shares the same values as those that fought in WWII, and nations must unite to halt the expansion of a new authoritarian bloc, Lai said The government yesterday held a commemoration ceremony for Victory in Europe (V-E) Day, joining the rest of the world for the first time to mark the anniversary of the end of World War II in Europe. Taiwan honoring V-E Day signifies “our growing connections with the international community,” President William Lai (賴清德) said at a reception in Taipei on the 80th anniversary of V-E Day. One of the major lessons of World War II is that “authoritarianism and aggression lead only to slaughter, tragedy and greater inequality,” Lai said. Even more importantly, the war also taught people that “those who cherish peace cannot
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
The Philippines yesterday criticized a “high-risk” maneuver by a Chinese vessel near the disputed Scarborough Shoal (Huangyan Island, 黃岩島) in a rare incident involving warships from the two navies. The Scarborough Shoal — a triangular chain of reefs and rocks in the contested South China Sea — has been a flash point between the countries since China seized it from the Philippines in 2012. Taiwan also claims the shoal. Monday’s encounter took place approximately 11.8 nautical miles (22km) southeast” of the Scarborough Shoal, the Philippine military said, during ongoing US-Philippine military exercises that Beijing has criticized as destabilizing. “The Chinese frigate BN 554 was
US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer began talks with high-ranking Chinese officials in Switzerland yesterday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy. The US delegation has begun meetings in Geneva with a Chinese delegation led by Chinese Vice Premier He Lifeng (何立峰), Xinhua News Agency said. Diplomats from both sides also confirmed that the talks have begun, but spoke anonymously and the exact location of the talks was not made public. Prospects for a major breakthrough appear dim, but there is
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