InfoAnda - Taiwan high-speed rail: From pride to embarrassment

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Top papers to charge online, but how? | | 4 December 2010
Bangladesh court hears Nobel laureate's case | 7 March 2011
Obama to hold online question session Thursday | 25 March 2009

Body Found May Belong To Georgia Professor Wanted For Triple Homicide | 10 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : Taiwan high-speed rail: From pride to embarrassment

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Taiwan high-speed rail: From pride to embarrassment AFP - Sunday, September 27 Send IM Story Print Taiwan high-speed rail: From pride to embarrassment TAIPEI (AFP) - – A futuristic rail service linking Taiwan's two largest cities with hyper-modern technology was meant to be a source of pride, but instead it has turned into a rich source of embarrassment. Billed as one of the largest privately funded transport projects ever, Taiwan High Speed Rail was designed as proof of engineering prowess on an epic scale, but in recent days it has instead impressed with its ability to amass enormous debts. The crisis has reached a level where the government's top priority is to ensure that the trains keep moving along the 345-kilometre (214-mile) railway line between Taipei and Kaoshiung. "The high-speed rail operations should not be suspended, because that would seriously impact the nation," Premier Wu Den-yih told reporters last week. Using Japanese technology, the trains run at maximum speeds of 300 kilometres (186 miles) per hour, but the company operating the service has steered into the red at an even faster pace. Less than three years after the much-touted rail system went into operation in early 2007, it has incurred 70.2 billion Taiwan dollars (2.1 billion US dollars) in losses, or roughly two thirds of its capitalisation. In a desperate bid to put the company on an even keel -- or prevent it from sinking altogether -- the government has now put career civil servant Ou Chin-der in charge of the enterprise. Picking Ou is almost symbolic -- he is widely known for leading a rescue team that pulled two boys from under a building where they were trapped for a week after a devastating earthquake 10 years ago. Now he is charged with saving an even larger object, a company that is not only losing money by the second but eating away at the island's confidence in its ability to think and build big. "I'll try my best to obtain trust and support from banks so they can provide us with new loans under more reasonable terms," Ou said after being named chairman. However, the company does not just want new loans, but also direct government compensation for some of the losses it has incurred, a company spokeswoman said, asking not to be named. "Is there anything more ridiculous than this?" said Lo Shu-lei, a legislator and high-profile critic of the railway. "It's a private company, but now its investors demand the government endorse the fresh loans only a few years after they encountered operational problems," she said. Few could have predicted the financial trouble when the 420 billion Taiwan dollar project was taking shape more than a decade ago. The build-operate-transfer (BOT) formula adopted for the railway seemed a win-win solution, with the corporation constructing and running the line for 35 years before handing it to the government. What planners failed to take into account was an abrupt slowdown in the Taiwan economy, meaning the 280,000 daily passengers projected in reports in the 1980s and early 1990s have now shrunk to a mere 87,000. "I don't think anyone could have foreseen the drastic change of Taiwan's economic landscape since then," said Hank Huang, head of BOT research at Taiwan Institute of Economic Research, a Taipei-based think-tank. However, the company has said its monthly sales averaged two billion Taiwan dollars, which had allowed it to nearly break even on occasion. It is this fact that leaves Huang more optimistic about the rail service's future than most. "Considering its monthly operation revenues, the company has a good chance of coping with the financial problems if it can obtain loans on favourable terms," he said. Recommend Send IM Story Print Related Articles Legal & General prepares Resolution defence-paper Reuters - 2 hours 14 minutes ago UAE cbank's new rate mechanism starts Oct.1-bankers Reuters - 2 hours 38 minutes ago Iran Guards group buys 50 pct stake in telecoms firm Reuters - Monday, September 28 Foreign firms eye Oman airport deal Reuters - Monday, September 28 South American nations agree to start $20B bank AP - Monday, September 28 News Search Top Stories Signs of life stir Zimbabwe's stock market French PM confirms EDF chairman to be replaced Belgian banks seek millions from Lehman bankruptcy: report Spain looks to higher taxes to rein in deficit BBVA sells 1 bln dlrs of property to Deutsche Bank More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Scientists make paralysed rats run again Kasparov beats Karpov in chess legends' rematch Belgian banks seek millions from Lehman bankruptcy: report New Confucius family tree hits two million Swine flu vaccines win approval More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Remains of Jesus-era synagogue found in Israel Nanoparticles could pose threat to humans: scientists Implanted tooth helps blind US woman recover sight More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Search Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 27 September 2009
Iran to put new uranium plant under IAEA supervision
US-TECH Summary
Erdogan says IMF must not put conditions on Turkey loan
UN chief, Europeans chide Iran's new atom plant
Tweeting Ugandan gorillas make friends online
Several wounded as Gaza militants vow revenge
Iran to allow IAEA visit nuclear site
Turks pay final respects to "Last Ottoman"
Chavez seeks Africa unity, reveals Iran uranium aid | International |
How much government control of Web in cybercrisis?
Gay rights measures on the ballot in three states
Cab driver: Slayings suspect, girlfriend had fight
Friends: Hanging victim devoted his life to kids
Typhoon batters Philippines, nearly 60 killed
Analysis: Strains show in debate on Afghan troops
Mourners in Calif. remember slain Yale student
Hamilton edges Vettel to take Singapore F1 pole
Young Chinese opt for Red Guard look in weddings
Suicide bombs kill 16, wound about 150 in Pakistan
US forces move into central Afghan city
Choking dust storm hits Australia's east
Japan's new PM wins praise on debut
McLaren's Hamilton on pole for Singapore GP
Afghan civilian deaths hit record high in August
'City of Life and Death' wins Spanish film award
Hundreds of academics dissect Springsteen legend
China's 'City of Life and Death' wins film prize
Renowned Spanish pianist de Larrocha dead at 86 | Entertainment |
Air India flights disrupted by pilot protest
Taiwan county turns down casinos in referendum
Climate talks resume in Bangkok with deal in doubt
South Korea's Uni-chem signs deal with Hynix
Afghan bread basket flung into violence
Britain's Brown prepares for election battle
Merkel centre-right hopes at risk as Germans vote | International |
French PM confirms EDF chairman to be replaced
Merkel shoots for second term in crisis-hit Germany
UN chief, Europeans chide Iran's new atom plant
Belgian banks seek millions from Lehman bankruptcy: report
Official: Iran not helping Venezuela find uranium
Several wounded as Gaza militants vow revenge on Israel
Spain looks to higher taxes to rein in deficit
Honduras de facto government sets deadline over crisis | International |
Turkey PM to visit Iran, urges caution on sanctions
Obama accuses Iran of evasion before Geneva talks | International |
Chavez and Gaddafi push Africa-South America unity | International |
U.S. urges Arabs to support Abbas on peace talks | International |
Typhoon batters Philippines, nearly 60 killed | International |
White House near picking site for Guantanamo detainees | International |
Afghan cabinet minister escapes Taliban attack | International |
China formally begins probe into U.S. chicken parts | International |
Obama addresses Black Caucus on health care
Glenn Beck attracts a crowd to Seattle talk
AP sources: Gitmo closing goal of Jan. may slip
Whitman faces voting scrutiny at Calif. convention
US military deaths in Afghanistan region at 769
Clinton discusses fight against drugs with Mexico
China formally begins probe into U.S. chicken parts
Memorial service held for slain Texas teacher
51 dead, 280,000 displaced in Philippine storm: govt
Dad of Pa. woman who faked abduction faces trial
Memories of China's founding still vivid for some
US, allies seek 'unfettered access' to Iran site
Scholars study Springsteen during weekend event
Climate talks resume in Bangkok with deal in doubt
40 dead after flooding in northern Philippines
China's 'City of Life and Death' wins San Sebastian film prize
Koreans separated for more than 50 years reunite
Bharti-MTN talks could go into overtime: analysts
South Korean mobile firms slash tariffs
S.Korea Q4 retailer sentiment hits 2-yr high-survey
Emerging nations big winners at re-born G20
Musicians get their close-ups in cable documentary series | Entertainment |
Keillor hosts 1st 'Prairie Home' since stroke
US-ENTERTAINMENT Summary
Musicians get their close-ups in cable documentary series
Conan O'Brien OK after hitting head in show stunt
Jackson fans camp out for tickets to late pop star's film
Renowned Spanish pianist de Larrocha dead at 86
In Milan, a playfully elegant Armani, fluid Max Mara
Spanish actor with Down's Syndrome wins top award
Cinema fans revel as Bergman items on auction
Daughtry, McGraw headline show for Agassi school
Six NATO soldiers killed in Afghanistan
Signs of life stir Zimbabwe's stock market
Voting begins in German election
Israeli police, protesters clash at holy site
Philippines seeks typhoon aid, battles to avoid backlash | International |
ETA reaffirms commitment to violence
Afghan minister survives bomb attack: police
Iran fires missiles amid nuclear controversy
Three French soldiers die in Afghanistan: presidency
Iran test-fires missiles amid nuclear tension | International |
Afghan minister survives bomb attack: police
Police contain riot at sensitive Jerusalem holy site | International |
Socialists tipped for narrow win in Portugal vote | International |
Two Sri Lanka refugees wounded by military fire | International |
Iran test-fires missiles amid nuclear tension
Iraqis make most of violence lull to wed in style | International |
Philippine storm leaves 106 dead and missing
The nation's weather
Escape bid by S.Lanka war refugees thwarted: govt
Polanski arrested in Switzerland
Tapes of Oklahoma City bombing aftermath released
Early retirements strain Social Security system
Sri Lanka wounds 2 trying to flee refugee camp
Feds: Zazi trips, shopping led to NY terror threat
Security tight on anniversary of Myanmar crackdown
Three Muslims killed in restive Thai south: police
US transfers 3 more Guantanamo detainees: official
Myanmar's Suu Kyi party calls for her freedom
Southern Calif. wildfires continue to smolder
Calif. mourners remember Yale student's fun spirit
Afghan Cabinet minister escapes bombing; 4 dead
Crashed helicopter ran into poor weather in SC
Village violence kills 5 on Indonesian island
China: complaints on US chicken dumping justified
SKorea unveils new guidelines on mobile fees
Japan minister says JAL won't be liquidated
OECD warns G20 over banking reform plans
China says industrial profits fell 10.6 percent
China launches probe into imports of US chicken
Taiwan high-speed rail: From pride to embarrassment
Indonesian holiday traffic kills almost 600
Movie-maker Polanski arrested in Switzerland | Entertainment |
Movie-maker Polanski arrested in Switzerland
Early McCartney musings discovered in Liverpool
Bardot turns 75 with no regrets
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01