Joint venture wins rail project
A joint venture between Australian construction company Barclay Mowlem Rail Group and Teco Electric and Machinery Co (東元電機) secured a NT$3.3 billion contract to build the Tsoying Depot in southern Taiwan for the Taiwan High Speed Rail project, statements from both companies said yesterday.
The Tsoying Depot is expected to carry out routine inspections and service rolling stock for the new high-speed railway link between Taipei and Kaohsiung, which is scheduled to open in 2005.
The joint venture will construct 31 structures on the 40-hectare Tsoying site, including ballasted track rail sidings, rail storage areas and signaling facilities, and large steel-framed portal constructions and workshops.
China Airlines adding flights
China Airlines Co (華航) plans to add flights to Honolulu and Frankfurt to meet an increase in demand as the SARS epidemic subsides.
The carrier will add two flights a week to Honolulu from Taipei starting next Thursday, boosting the number to seven a week, public relations specialist Joseph Wu (武志厚) said. The airlines will also add a fourth weekly flight to Frankfurt starting two days later, he said.
China Airlines' sales fell 13 percent to NT$5.35 billion (US$156 million) last month from a year ago.
Taiwan may pay less for LNG
The state-run Chinese Petroleum Corp (中油) may pay less than US$3 per million British thermal units for liquefied natural gas (LNG) from Qatar, below the average price for the fuel in East Asia, Tex Report's Daily Energy edition said, without saying where it obtained the information.
The price to be paid by Chinese Petroleum for LNG from Qatar's Ras Laffan venture was based on an assumed oil price of US$20 per barrel, Tex said. LNG prices are typically set by a formula that's linked to benchmark oil prices.
Japanese buyers now pay an average US$3.80 per million British thermal units for LNG, based on the same assumed oil price, Tex said.
Chinese Petroleum last week won a NT$298.2 billion (US$8.7 billion) contract to supply the LNG bought from Qatar to Taiwan Power Co (台電) for 25 years starting in 2008.
DoCoMo urges share swap
NTT DoCoMo Inc, Japan's top mobile operator, wants its Taiwanese unit, KG Telecommunications Co (和信電訊), to swap shares with bigger rival Far EasTone Telecom-munications Co (遠傳電信) instead of cash for a merger to avoid losses, a Chinese-language newspaper reported, without citing its sources.
The paper said Far EasTone chairman Douglas Hsu (徐旭東) has a tentative agreement with NTT DoCoMo to swap shares, adding that Far EasTone's offer of NT$12 a share for KG Telecom would lead to losses on NTT DoCoMo's investment in KG Telecom.
Yang to quit bank job
Yang Tze-kaing (楊子江), who has been appointed vice minister of Finance, will quit his presidency at the China Development Industrial Bank (CDIB, 中華開發工銀) to take up his new job next Wednesday, the lender's parent company China Development Financial Holding Co (中華開發金控) said yesterday in a statement.
To replace Yang, the board of China Development Financial yesterday appointed Benny Hu (胡定吾), CDIB's chairman, to double as the bank's president.
NT dollar continues gains
The New Taiwan dollar yesterday continued its strength against its US counterpart, rising NT$0.009 to close at NT$34.341 on the Taipei foreign exchange market.
Turnover was US$1.054 billion.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors