■ BANKING
DPJ eyes BoJ candidates
Democratic Party of Japan (DPJ) Secretary-General Yukio Hatoyama said his party could consider Haruhiko Kuroda and Hirofumi Watanabe as candidates for the next head of the Bank of Japan (BoJ). On March 12, the upper house of Japan's parliament controlled by the opposition rejected the government's nomination of BoJ Deputy Governor Toshiro Muto to succeed Toshihiko Fukui as head of the bank. DPJ leaders have asked Japanese Prime Minister Yasuo Fukuda to propose a candidate other than Muto, arguing that his previous career at the Ministry of Finance threatens the bank's independence.
■ AVIATION
HK airport gets busier
Hong Kong International Airport, Asia's third-busiest airfield by passenger numbers, handled 7.3 percent more people last month than the same month last year because of increased Lunar New Year travel. The airport handled 3.9 million people last month, Airport Authority Hong Kong said in an e-mailed statement yesterday. Cargo volume increased 5.1 percent 247,000 tonnes, it said. "It was a good start to the year," chief executive officer Stanley Hui (許漢忠) said in the statement. "Hong Kong people took advantage of the buoyant local economy and treated themselves to a Lunar New Year holiday."
■ OIL
PDVSA turns to euro
Venezuelan state oil giant Petroleos de Venezuela (PDVSA) will sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials. "There are some contracts in euros, contracts for crude, products and spot markets in euros. This is a subject which we are working on," Energy Minister and PDVSA chief Rafael Ramirez said in an interview with the journal El Universal published on Friday. It remained unclear which oil sales would require payment in euros. Venezuela, Latin America's leading petroleum producer, has previously backed Iran's proposals for OPEC to abandon the dollar and use the euro for oil pricing.
■ MALAYSIA
Projects on, Abdullah says
Prime Minister Abdullah Ahmad Badawi pledged to push ahead with big-spending development projects amid concerns of possible economic fallout after his ruling coalition's election losses. The stock market fell 7.8 percent last week after the opposition won control of five states and a third of parliament. Abdullah's government remained in power, but with its lowest parliamentary majority in 51 years of rule. Abdullah insisted the economy remained "fundamentally strong" and said plans for US$325 billion in public and private investment to create five economic zones in rural areas would go ahead even though some of the states were in opposition hands.
■ BANKING
China loan growth healthy
Chinese banks' loan growth may top a government target for the first quarter, Wu Xiaoling (吳曉靈), a former vice governor of the People's Bank of China, said yesterday. "We still have one month to watch lending growth for the first quarter and it may still exceed our target," Wu, a deputy head of the Fiscal and Economic Committee, said in an interview in Beijing. She didn't specify the target. The government is trying to prevent excess liquidity from fueling 11-year high inflation and investment leading to industrial overcapacity.
AIR DEFENSE: The Norwegian missile system has proved highly effective in Ukraine in its war against Russia, and the US has recommended it for Taiwan, an expert said The Norwegian Advanced Surface-to-Air Missile Systems (NASAMS) Taiwan ordered from the US would be installed in strategically important positions in Taipei and New Taipei City to guard the region, the Ministry of National Defense said in statement yesterday. The air defense system would be deployed in Taipei’s Songshan District (松山) and New Taipei City’s Tamsui District (淡水), the ministry said, adding that the systems could be delivered as soon as the end of this year. The US Defense Security Cooperation Agency has previously said that three NASAMS would be sold to Taiwan. The weapons are part of the 17th US arms sale to
INSURRECTION: The NSB said it found evidence the CCP was seeking snipers in Taiwan to target members of the military and foreign organizations in the event of an invasion The number of Chinese spies prosecuted in Taiwan has grown threefold over a four-year period, the National Security Bureau (NSB) said in a report released yesterday. In 2021 and 2022, 16 and 10 spies were prosecuted respectively, but that number grew to 64 last year, it said, adding that the Chinese Communist Party (CCP) was working with gangs in Taiwan to develop a network of armed spies. Spies in Taiwan have on behalf of the CCP used a variety of channels and methods to infiltrate all sectors of the country, and recruited Taiwanese to cooperate in developing organizations and obtaining sensitive information
BREAKTHROUGH: The US is making chips on par in yield and quality with Taiwan, despite people saying that it could not happen, the official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has begun producing advanced 4-nanometer (nm) chips for US customers in Arizona, US Secretary of Commerce Gina Raimondo said, a milestone in the semiconductor efforts of the administration of US President Joe Biden. In November last year, the commerce department finalized a US$6.6 billion grant to TSMC’s US unit for semiconductor production in Phoenix, Arizona. “For the first time ever in our country’s history, we are making leading edge 4-nanometer chips on American soil, American workers — on par in yield and quality with Taiwan,” Raimondo said, adding that production had begun in recent
Seven hundred and sixty-four foreigners were arrested last year for acting as money mules for criminals, with many entering Taiwan on a tourist visa for all-expenses-paid trips, the Criminal Investigation Bureau (CIB) said on Saturday. Although from Jan. 1 to Dec. 26 last year, 26,478 people were arrested for working as money mules, the bureau said it was particularly concerned about those entering the country as tourists or migrant workers who help criminals and scammers pick up or transfer illegally obtained money. In a report, officials divided the money mules into two groups, the first of which are foreigners, mainly from Malaysia
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