■ COMMODITIES
Gold price hits record
The price of gold hit a new record yesterday, close to the symbolic US$1,000 per ounce level as the precious metal was boosted again by the weak US dollar, traders said. On the London Bullion Market, the price of gold jumped as high as US$991.68 per ounce, beating Wednesday's record high of US$991.47. This week, gold prices have move sharply higher on the back of the plunging dollar, which tumbled to a fresh low against the European single currency yesterday. The metal also gets support because it is regarded as a safe investment in times of economic uncertainty and rising inflation.
■ STOCKS
China mulls trading tax cut
Chinese authorities are studying a proposal to cut the stock trading tax, an issue that has emerged at the ongoing annual session of parliament, state media reported yesterday. "We have paid attention to various proposals in this regard," Shang Fulin, the chairman of the China Securities Regulatory Commission, was quoted as saying by the China Securities Journal. Speaking on the sidelines of the National People's Congress, Shang said government departments were studying the issue, but did not elaborate. In May, the authorities tripled the duty in an effort to curb rampant speculation in the stock market.
■ ENERGY
Gazprom restores supplies
Russian gas giant Gazprom suffered a "failure" when it was forced to restore gas supplies to Ukraine after a "threat" from Kiev to disrupt exports to Europe, Russian newspapers said yesterday. "Gazprom could not stand up to the threat ... and restored supplies of gas to Ukraine without any conditions" amid an ongoing row over unpaid debts between Gazprom and Ukraine, the Kommersant daily said. The crisis was "the first failure of Gazprom's foreign policy," it said. Russia cut gas supplies to Ukraine by 25 percent on Monday and by an additional 25 percent on Tuesday as part of a dispute over unpaid debts.
■ ELECTRONICS
Fujitsu-Siemens lagging
Leading European computer manufacturer Fujitsu-Siemens will not meet sales targets it set for the 2008-2009 fiscal year, a press report said yesterday. "I think we will have to push back our targets by a year," CEO Bernd Bischoff told the Sueddeutsche Zeitung. Fujitsu-Siemens had aimed for sales of 10 billion euros (US$15 billion) in the year to next March, and net profit of 250 million euros, but has been stymied by fierce price competition in the sector. The news could raise questions about the future of the Japanese-German joint venture, which is based on a contract that expires at the end of next year.
■ AVIATION
British Airways hit by costs
Higher fuel bills and the cost of opening a new terminal at London's Heathrow Airport will cut into British Airways' earnings next year, the company said yesterday. In an investors' presentation, the airline predicted that revenue will rise by 4 percent or more to at least £9.1 billion (US$18 billion) in the year ending March 31, 2009. However, the company said fuel costs are expected to rise £450 million to £2.5 billion, along with £200 million in other cost increases. "The outlook for next year is consistent with the economic slowdown," chief financial officer Keith Williams said.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
One of two tropical depressions that formed off Taiwan yesterday morning could turn into a moderate typhoon by the weekend, the Central Weather Administration (CWA) said yesterday. Tropical Depression No. 21 formed at 8am about 1,850km off the southeast coast, CWA forecaster Lee Meng-hsuan (李孟軒) said. The weather system is expected to move northwest as it builds momentum, possibly intensifying this weekend into a typhoon, which would be called Mitag, Lee said. The radius of the storm is expected to reach almost 200km, she said. It is forecast to approach the southeast of Taiwan on Monday next week and pass through the Bashi Channel
NO CHANGE: The TRA makes clear that the US does not consider the status of Taiwan to have been determined by WWII-era documents, a former AIT deputy director said The American Institute in Taiwan’s (AIT) comments that World War-II era documents do not determine Taiwan’s political status accurately conveyed the US’ stance, the US Department of State said. An AIT spokesperson on Saturday said that a Chinese official mischaracterized World War II-era documents as stating that Taiwan was ceded to the China. The remarks from the US’ de facto embassy in Taiwan drew criticism from the Ma Ying-jeou Foundation, whose director said the comments put Taiwan in danger. The Chinese-language United Daily News yesterday reported that a US State Department spokesperson confirmed the AIT’s position. They added that the US would continue to
The number of Chinese spouses applying for dependent residency as well as long-term residency in Taiwan has decreased, the Mainland Affairs Council said yesterday, adding that the reduction of Chinese spouses staying or living in Taiwan is only one facet reflecting the general decrease in the number of people willing to get married in Taiwan. The number of Chinese spouses applying for dependent residency last year was 7,123, down by 2,931, or 29.15 percent, from the previous year. The same census showed that the number of Chinese spouses applying for long-term residency and receiving approval last year stood at 2,973, down 1,520,
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