■ JAPAN
Industrial output hits record
Industrial production rose sequentially by 1.6 percent last month to a record high, boosted by output of semiconductors and autos, the Ministry of Economy, Trade and Industry said yesterday. Production dropped 1.4 percent in September after jumping 3.5 percent in August. The index of industrial output climbed to 112.1 against a base of 100 for the year 2000. That's the highest the production index has recorded since the government began tracking relevant production data in 1953, the ministry said. Still, analysts remained skeptical whether Japan's output could continue growing amid recent sluggishness in the housing construction sector.
■ BANKING
Temasek sells China stocks
Singapore's state investment agency said it sold shares in two Chinese banks this week, netting more than US$500 million in proceeds. Temasek sold 280 million shares in China Construction Bank (中國建設銀行) on Wednesday, representing less than 2 percent of its holding in the bank, a company spokeswoman said yesterday. Two days earlier, Temasek confirmed it sold 1.08 billion shares in Bank of China (中國銀行) for HK$4.45 billion (US$570 million), reducing its stake in the mainland lender from 15.5 percent to 14.2 percent. Both sales were part of Temasek's ongoing rebalancing of its portfolio, the spokeswoman said in a statement.
■ ELECTRONICS
Canon to build new plant
Japanese high-tech giant Canon Inc announced yesterday plans to spend ?80 billion (US$727 million) on a new domestic plant to step up production of toner cartridges amid growing demand. Canon will start construction of the new plant in December next year in Hita City in the southern prefecture of Oita, with operations expected to begin in September 2009, the group said. "In recent years, steadily growing demand for toner cartridges and other consumables has created a pressing need to expand production capacity," a company statement said. Canon expects record profits this year on the back of brisk sales of digital cameras and printers.
■ ADVERTISING
Adobe, Yahoo team up
Adobe Systems Inc and Yahoo Inc were to launch a service yesterday allowing publishers to insert ads into many online newsletters or other electronic documents. The deal requires publishers to opt into the program, and it will distribute revenue from advertisers between publishers, Adobe and Yahoo. Financial details were not disclosed. The service marks the first time Adobe has allowed dynamic ads into portable document format, or PDF, documents. Dynamic ads -- like those placed online through Google Inc -- can be updated for particular audiences, or rotated so the same reader never sees the same ad twice.
■ SEMICONDUCTORS
Hynix welcomes ruling
South Korea's Hynix Semiconductor welcomed yesterday a WTO ruling that Japan's punitive tariffs on imports of its dynamic random access memory (DRAM) chips were illegal under international trade rules. Japan imposed 27.2 percent tariffs in January last year on DRAM chips produced by the world's second-largest memory chipmaker. Japan accused Hynix of selling subsidized products, while South Korea insisted the duties breached world trade rules. The WTO's appellate body made its ruling on Wednesday.
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
RSS