■ Tourism
Thailand fears decline
Thailand's political crisis and an ongoing insurgency in the south are driving away Asian holidaymakers, with industry experts warning the kingdom could miss its annual tourism target. The state-run Tourism Authority of Thailand (TAT) has forecast that 13.8 million foreign tourists will visit the kingdom this year. Asians make up 60 percent of the total. But the Kasikorn Research Center said tourist arrivals would reach 12.5 million, with tourism revenue seen at 460 billion baht (US$12.2 billion), down from the TAT's target of 486 billion baht. "Protracted demonstrations and unrest in the south may intensify during the interim government," the center said in a paper. "This will affect the tourism atmosphere in the late part of the first quarter, and many tourists could delay or change their plans."
■ Trade
ASEAN ministers meet
Economic ministers from the ASEAN will gather in Manila today for a three day meeting with economic integration and trade issues topping the agenda. Philippine Trade Secretary Peter Favila said in a statement yesterday that the meeting will cover issues of "intra-ASEAN economic integration and integration with free trade agreement partners." The ministers are expected to discuss progress towards implementing an ASEAN Economic Community and a free-trade agreement (FTA) with South Korea. Details of the ASEAN-South Korea FTA have yet to be finalized and it is not known what products will be covered or when the agreement will take effect. ASEAN has already negotiated a free-trade deal with China, and is aiming to create the world's biggest free trade zone by 2010 with a combined population of nearly 2 billion people.
■ Beverages
Asahi investing in China
Asahi Breweries will invest ¥4 billion (US$36 million) to build a new plant in China amid intensifying competition in China's beer market, the world's biggest, a news report said yesterday. The plant, to be built in the southern city of Huzhou in Zhejiang Province, will start production in May 2007 with an annual production capacity of 100,000 kiloliters, Japan's business daily Nihon Keizai said. That would increase the company's total annual beer production in China by 15 percent to 770,000 kiloliters, the largest among Japanese breweries in China, the paper said, without citing sources. Asahi, which has the largest share in Japan's beer market, aims to increase beer sales to 740,000 kiloliters a year next year, up 26 percent from last year, the paper said.
■ Aviation
Airbus admits mistakes
The planemaker Airbus has made mistakes in its thinking on development of a model to compete with Boeing's new 787, a chief executive of the European consortium admitted on Saturday. In an interview with the German newspaper Welt am Sonntag, made available in advance, Germany's Thomas Enders said Airbus had under-estimated the Boeing 787. "That's why we needed some time to come up with a competitive aircraft," said Enders, co-chairman of the European Aerospace, Defence and Space company which owns Airbus together with British defense group BAE Systems. "We've made mistakes. But we have put this behind us," he said. The company reckoned with sales of 200 of the projected new twin-engined A350 model, which has come under criticism from potential customers. The company has received 100 firm orders for the A350.
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KAOHSIUNG CEREMONY: The contract chipmaker is planning to build 5 fabs in the southern city to gradually expand its 2-nanometer chip capacity Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday confirmed that it plans to hold a ceremony on March 31 to unveil a capacity expansion plan for its most advanced 2-nanometer chips in Kaohsiung, demonstrating its commitment to further investment at home. The ceremony is to be hosted by TSMC cochief operating officer Y.P. Chyn (秦永沛). It did not disclose whether Premier Cho Jung-tai (卓榮泰) and high-ranking government officials would attend the ceremony. More details are to be released next week, it said. The chipmaker’s latest move came after its announcement earlier this month of an additional US$100 billion
Authorities yesterday elaborated on the rules governing Employment Gold Cards after a US cardholder was barred from entering Taiwan for six years after working without a permit during a 2023 visit. American YouTuber LeLe Farley was barred after already being approved for an Employment Gold Card, he said in a video published on his channel on Saturday. Farley, who has more than 420,000 subscribers on his YouTube channel, was approved for his Gold Card last month, but was told at a check-in counter at the Los Angeles International Airport that he could not enter Taiwan. That was because he previously participated in two
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