■AGRICULTURE
Good rice harvest expected
Vietnam, the second-largest rice exporter, may match last year’s record shipment level this year, the government said. Vietnam exported 6.05 million tonnes last year, according to figures from Pham Van Du, a deputy director general of the Ministry of Agriculture and Rural Development, speaking at a conference yesterday in Ho Chi Minh City. This year’s target is between 5.5 million and 6 million tonnes, and indications are that the high end of the range may be reached, Pham said. “Production is now in surplus,” he said. Shipments of 6 million tonnes would beat by 4 percent the US Foreign Agricultural Service’s forecast that Vietnam will export 5.75 million tonnes this year, second to 9.5 million tonnes by Thailand.
■AUTOMOBILES
Toyota production rises 27%
Toyota’s global car production zoomed 27 percent last month as Japanese automakers benefit from improving demand in Asia and the US. Toyota Motor Corp, the world’s No. 1 automaker, said yesterday it produced 637,675 vehicles worldwide last month. Toyota’s sales in Japan increased year-on-year for the 10th straight month, it said. Honda Motor Co’s worldwide production totaled 278,543 vehicles last month, surging 42.8 percent from a year earlier for the sixth straight month of improved production. Honda said US production increased year-on-year for the seventh straight month while production in Asia was up for the 10th straight month. Even Japan, a struggling market, saw production rise for the fifth straight month, Honda said.
■GREECE
Economy will shrink 4%
The head of the IMF’s mission to Greece said he expects the economy to shrink 4 percent this year, but that growth will resume in 2012. Poul Thomsen, deputy director and mission chief at the IMF’s European Department, said in an interview to newspaper To Vima that the government’s austerity program is on the right track. “We already have positive developments: the deficit is shrinking, public finances are better managed, the banking system is stable and vital structural reforms are under way,” he was quoted as saying. The government is scheduled to introduce legislation this week to reform the pension system, and unions have responded by calling a general strike for today.
■INVESTMENT
Aabar shares decline
Shares of the Abu Dhabi investment fund with the largest stake in German automaker Daimler plunged 7 percent on Sunday as stockholders fretted over the firm’s plan to take itself private. Aabar Investments surprised investors when it first floated the possibility of canceling its stock market listing and going private early last week. That plan looks far more certain now that the company’s board has approved plans for a shareholder vote on the proposal. Aabar said in a regulatory filing posted before the trading week opened on Sunday it would hold the vote on July 26. The Abu Dhabi government owns the majority of Aabar, giving it considerable influence over decision-making at the company. “The board of Aabar considers this step as essential in the life of the company to provide Aabar with greater operational flexibility required to ensure the ongoing success of the company’s investment strategy and its ability to effect opportunistic acquisitions both in the UAE and abroad,” the company said in the filing.
STILL DANGEROUS: The typhoon was expected to weaken, but it would still maintain its structure, with high winds and heavy rain, the weather agency said One person had died amid heavy winds and rain brought by Typhoon Krathon, while 70 were injured and two people were unaccounted for, the Central Emergency Operation Center said yesterday, while work and classes have been canceled nationwide today for the second day. The Hualien County Fire Department said that a man in his 70s had fallen to his death at about 11am on Tuesday while trimming a tree at his home in Shoufeng Township (壽豐). Meanwhile, the Yunlin County Fire Department received a report of a person falling into the sea at about 1pm on Tuesday, but had to suspend search-and-rescue
RULES BROKEN: The MAC warned Chinese not to say anything that would be harmful to the autonomous status of Taiwan or undermine its sovereignty A Chinese couple accused of disrupting a pro-democracy event in Taipei organized by Hong Kong residents has been deported, the National Immigration Agency said in a statement yesterday afternoon. A Chinese man, surnamed Yao (姚), and his wife were escorted by immigration officials to Taiwan Taoyuan International Airport, where they boarded a flight to China before noon yesterday, the agency said. The agency said that it had annulled the couple’s entry permits, citing alleged contraventions of the Regulations Governing the Approval of Entry of People of the Mainland Area into the Taiwan Area (大陸地區人民進入台灣地區許可辦法). The couple applied to visit a family member in
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
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