■FINLAND
Nation posts trade surplus
The nation’s trade balance returned to a surplus in February because of an increase in exports to China. The surplus was 41 million euros (US$55 million), compared with a deficit of 105 million euros the month before and a surplus of 460 million euros a year earlier, Helsinki-based Finnish Customs said on its Web site yesterday, citing revised figures. Exports to China increased slightly, the customs office said, helping offset a decline in global trade. Finland’s February exports slid 36 percent to 3.55 billion euros from a year earlier, while imports fell 31 percent to 3.51 billion euros.
■ZAMBIA
Zambia welcomes IMF aid
Finance and National Planning Minister Situmbeko Musokotwane on Sunday welcomed an IMF decision to grant an extra US$256.4 million with an immediate payment of US$160.1 million in financial support to Zambia. The kwacha, the Zambian national currency, has been gaining stability, which could help the government meet its development targets, Musokotwan said. The currency recently fell against the major currencies. The increase brought IMF financial aid to the country to US$329.7 million, the ministry statement said.
■INVESTMENT
KKR to buy AB InBev
US investment bank Kohlberg Kravis Roberts (KKR) is finalizing an agreement to buy Anheuser-Busch InBev NV’s (AB InBev) South Korean beer affiliate for about US$1.8 billion, the Wall Street Journal reported late on Sunday. Citing people familiar with the situation, the newspaper said the possible deal signals the market for leveraged buyouts is reopening in Asia. The US private-equity firm was named preferred bidder a week ago after competing against Asia-focused private-equity bidders MBK Partners LP and Affinity Equity Partners to buy 100 percent of AB InBev’s Oriental Brewery Co, which is the No. 2 brewer in South Korea, the paper said. Over the past week, the two sides have negotiated terms on the sale, which is expected to be publicly announced on Thursday, when AB InBev posts its results for the first quarter, the paper said.
■AVIATION
PRC carrier to sell planes
China Eastern Airlines (中國東航) said yesterday it had agreed to sell two Airbus A340 jets for 590 million yuan (US$86 million) to improve its cash flow, but added it would lease the planes back. The nation’s third largest carrier by fleet size said in an exchange filing that it sold the two planes to China’s Bank of Communications Financial Leasing Co Ltd (交銀金融租賃公司). The airline said it intended to channel the proceeds from the sale of the aircraft into its operations. It will pay about 17 million yuan for each aircraft per quarter to lease them back over the next five years, the carrier said. China Eastern suffered a net loss of 15.3 billion yuan last year owing to falling passenger numbers, rising fuel costs and bad bets on fuel hedging contracts.
■OIL
Prices rise on optimism
Oil prices were higher in Asian trade yesterday as hopes that the worst is over for the global economy got the better of worries about the swine flu outbreak, analysts said. New York’s main futures contract, light sweet crude for delivery next month was up US$0.28 to US$53.48 a barrel in the afternoon. Brent North Sea crude for June delivery gained US$0.35 to US$53.20.
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
The number of births in Taiwan fell to an all-time monthly low last month, while the population declined for the 16th consecutive month, Ministry of the Interior data released on Friday showed. The number of newborns totaled 8,684, which is 704 births fewer than in March and the lowest monthly figure on record, the ministry said. That is equivalent to roughly one baby born every five minutes and an annual crude birthrate of 4.52 per 1,000 people, the ministry added. Meanwhile, 17,205 deaths were recorded, resulting in a natural population decrease of 8,521, the data showed. More people are also leaving Taiwan, with net
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