■ Finance
Thai controls staying
Currency control measures that rattled the stock market in Thailand could remain in place for at least six months, the central bank governor said yesterday. Bank of Thailand governor Tarisa Watanagse said that last week's measures -- which restrict foreign capital inflows into the bond and commercial paper markets -- must remain in place for around three to six months to ensure they actually curb the baht's appreciation. "Once the baht is moving in line with regional currencies, the measures will become unnecessary," Tarisa said.
■ Energy
Gazprom hikes gas price
Russian state gas monopoly Gazprom has accumulated extra gas reserves in German storage areas to guard against possible cuts to Belarus and reduced gas transit to Europe, an industry source said yesterday. Gazprom warned Belarus on Monday it would have to pay higher prices for gas from next year and cede control over its pipelines to the Russian firm or face reduced supplies from the New Year. The Russian company's threat raised the specter of a repeat of last year's New Year gas dispute with Ukraine that saw supplies cut off briefly. Belarus is the key transit route for Russian gas to Poland and Germany, Gazprom's biggest client in Europe.
■ Electronics
Sharp mulls Mexico plant
Japan's Sharp Corp said yesterday it was considering building a new plant in Mexico amid growing North American demand. "The demand for LCD TVs, especially those of bigger-size panels, is growing in the North American market," said a Sharp spokeswoman. The Nihon Keizai Shimbun business daily reported yesterday that Sharp will invest about ¥5 billion (US$42 million) to construct the new factory in Mexico. The plant will begin producing around 100,000 sets a month from next fall, bringing Sharp's total output capacity of LCD TVs to around 150,000 units a month, the report said.
■ Japan
Number of jobless falls
The nation's jobless rate fell slightly and prices edged up last month, the government said yesterday, but a drop in consumer spending suggested a quick interest rate hike was unlikely. Japan's unemployment rate for last month dropped to 4 percent from 4.1 percent a month earlier, the government said. The nationwide core consumer price index, meanwhile, rose 0.2 percent on year last month, the government said. The government took the news as a sign the world's second-largest economy was on a stable recovery path. But household spending for last month dropped 0.7 percent on year, suggesting a lack of growth in paychecks is enforcing limits on consumption.
■ Electronics
Sanyo targets efficiency
Sanyo Electric Co will move its sales and consumer services divisions into separate companies to improve efficiency. The company's domestic sales operations will be combined with three sales subsidiaries into a new company with 1,800 employees, Sanyo said in a release yesterday. The consumer services unit, which maintains air conditioners and home appliances, will be split off into a new company with 1,400 employees. The new companies will be established on April 1. Sanyo last month forecast its third annual loss, reversing a May target for a profit, because it will spend an additional ¥40 billion (US$336 million) to cut 2,200 jobs.
DETERRENCE: With 1,000 indigenous Hsiung Feng II and III missiles and 400 Harpoon missiles, the nation would boast the highest anti-ship missile density in the world With Taiwan wrapping up mass production of Hsiung Feng II and III missiles by December and an influx of Harpoon missiles from the US, Taiwan would have the highest density of anti-ship missiles in the world, a source said yesterday. Taiwan is to wrap up mass production of the indigenous anti-ship missiles by the end of year, as the Chungshan Institute of Science and Technology has been meeting production targets ahead of schedule, a defense official with knowledge of the matter said. Combined with the 400 Harpoon anti-ship missiles Taiwan expects to receive from the US by 2028, the nation would have
‘UNWAVERING FRIENDSHIP’: A representative of a Japanese group that co-organized a memorial, said he hopes Japanese never forget Taiwan’s kindness President William Lai (賴清德) yesterday marked the 15th anniversary of the Tohoku earthquake and tsunami, urging continued cooperation between Taiwan and Japan on disaster prevention and humanitarian assistance. Lai wrote on social media that Taiwan and Japan have always helped each other in the aftermath of major disasters. The magnitude 9 earthquake struck northeastern Japan on March 11, 2011, triggering a massive tsunami that claimed more than 19,000 lives, according to data from Japanese authorities. Following the disaster, Taiwan donated more than US$240 million in aid, making it one of the largest contributors of financial assistance to Japan. In addition to cash donations and
North Korea yesterday fired about 10 ballistic missiles to the sea toward Japan, the South Korean Joint Chiefs of Staff (JCS) said, days after Pyongyang warned of “terrible consequences” over ongoing South Korea-US military drills. Pyongyang recently dashed hopes of a diplomatic thaw with Seoul, Washington’s security ally, describing its latest peace efforts as a “clumsy, deceptive farce.” Seoul’s military detected “around 10 ballistic missiles launched from the Sunan area in North Korea toward the East Sea [Sea of Japan] at around 1:20pm,” JCS said in a statement, referring to South Korea’s name for the body of water. The missiles
CLOSER TO CHINA: The upgraded Type-12 missile has a range of about 1,000km, compared with the original model’s range of 200km, and can reach mainland China Japan is preparing to deploy its first batch of domestically developed long-range missiles, with their launchers arriving at an army camp yesterday, as the country accelerates its offensive capability in response to rising challenges in the region. The upgraded Type-12 land-to-ship missiles are to be deployed at Camp Kengun in Japan’s southwestern prefecture of Kumamoto by the end of this month, completing the process of deployment, Japanese Chief Cabinet Secretary Minoru Kihara said without giving details. Army vehicles carrying the launchers and other equipment arrived past midnight in a highly secretive mission criticized by residents. Dozens of people stood outside of the
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