■GAS
Gazprom opens Belarus taps
Russia’s gas monopoly said yesterday it is resuming supplies to Belarus now that it has paid a US$200 million bill. The Kremlin said Alexei Miller, the chief of Russia’s state-controlled Gazprom natural gas company, has told Russian President Dmitry Medvedev the company would resume supplies to Belarus. Belarus said on Wednesday it had paid the debt to Russia, but demanded in return that Moscow pay what it claims is a US$260 million debt for transit of gas to the West. Belarus has threatened to cut transit of Russian gas yesterday if Moscow doesn’t pay up. Miller told Russian Prime Minister Vladimir Putin yesterday that the dispute arose after Belarus had demanded that Gazprom pay a higher transit fee than agreed in the contract. Putin said Gazprom must pay for transit in accordance with the contract, Russian news agencies reported.
■AUTOMAKERS
Ford to build Thailand plant
Ford Motor Co said yesterday it would spend US$450 million to build a new plant in Thailand, giving a much-needed boost to an economy reeling from deadly political unrest. Ford said the factory in Rayong, about 150km southeast of Bangkok, would employ up to 2,200 workers with production scheduled to begin in 2012, starting with the next-generation Ford Focus. It will have an initial output capacity of 150,000 vehicles a year, mostly for export, boosting Thailand’s efforts to be a regional hub for car production.
■JAPAN
Trade growth disappoints
Japan logged a smaller-than-expected rise in its trade surplus last month as the slowest export growth in five months signaled that a trade-dependent recovery may be losing steam, data showed yesterday. Exports for the world’s second-largest economy rose 32.1 percent to ¥5.31 trillion (US$59 billion), the sixth consecutive monthly rise, but the increase was below market expectations of 37 percent. The trade surplus reached ¥324.2 billion last month, the 12th straight month of improvement on year-earlier levels but below economists’ forecasts of more than ¥450 billion.
■SOUTH KOREA
Growth projection raised
South Korea yesterday raised its economic growth projection for this year to 5.8 percent, up from 5 percent, reflecting growing confidence about its solid economic recovery. The revised outlook matches a forecast laid out by the Organisation for Economic Cooperation and Development, which said in a six-monthly report that Asia’s fourth-largest economy is projected to grow 5.75 percent this year. GDP is forecast to grow 4.5 percent in the second half after 8.1 percent and 6.3 percent advances in the first and second quarters, the finance ministry said. It forecast next year’s growth at about 5 percent.
■NEW ZEALAND
GDP grows a fourth quarter
New Zealand’s economy grew 0.6 percent in the three months to March, marking the fourth straight quarter of growth following a long recession, official figures showed yesterday. The rise in GDP in the latest quarter compared with the previous three months followed revised growth of 0.9 percent in the last quarter of last year, Statistics New Zealand said. Economic activity in the first quarter was 1.9 percent higher than the same period a year earlier.
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
‘EXTREME PRESSURE’: Beijing’s goal is to ‘force Taiwan to make mistakes,’ Admiral Tang Hua said, adding that mishaps could serve as ‘excuses’ for launching a blockade China’s authoritarian expansionism threatens not only Taiwan, but the rules-based international order, the navy said yesterday, after its top commander said in an interview that the Chinese People’s Liberation Army (PLA) could blockade the nation at will. The object of Beijing’s expansionist activities is not limited to Taiwan and its use of pressure is not confined to specific political groups or people, the navy said in a statement. China utilizes a mixture of cognitive warfare and “gray zone” military activities to pressure Taiwan, the navy said, adding that PLA sea and air forces are compressing the nation’s defensive depth. The navy continues to
MAKING PROGRESS: Officials and industry leaders who participated in a defense forum last month agreed that Taiwan has the capabilities to work with the US, the report said Taiwan’s high-tech defense industry is to enhance collaboration with the US to produce weapons needed for self-defense, the Ministry of National Defense said in a report to the Legislative Yuan. Deputy Minister of National Defense Hsu Yen-pu (徐衍璞) discussed building regional and global industry alliances with US partners at the US-Taiwan Defense Industry Conference in Philadelphia held from Sept. 22 to Tuesday last week, the ministry said in the declassified portion of the report. The visit contributed to maintaining bilateral ties, facilitated Taiwan’s efforts to acquire weapons and equipment, and strengthened the resilience of the two nation’s defense industries, it said. Taiwan-US ties
CONCERNS: Allowing the government, political parties or the military to own up to 10 percent of a large media firm is a risk Taiwan cannot afford to take, a lawyer said A Chinese Nationalist Party (KMT) legislator has proposed amendments to allow the government, political parties and the military to indirectly invest in broadcast media, prompting concerns of potential political interference. Under Article 1 of the Satellite Broadcasting Act (衛星廣播電視法), the government and political parties — as well as foundations established with their endowments, and those commissioned by them — cannot directly or indirectly invest in satellite broadcasting businesses. A similar regulation is in the Cable Radio and Television Act (有線廣播電視法). “The purpose of banning the government, political parties and the military from investing in the media is to prevent them from interfering
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