Euro hits record high, then backs off
Tokyo: The four-year-old euro completed its remarkable recovery in Tokyo on Tuesday, rising to record highs against the dollar as demand for the high-yielding currency showed no sign of cooling. Traders reported a high of $1.1914, beating the previous record of $1.1886 reached on the day of the euro's launch in January 1999, but the single currency slipped on profit-taking. "The euro's bullish trend is continuing and at the moment we don't see many factors that can change it," said Hideaki Furumaya, head of the interbank desk at Trust and Custody Services Bank in Tokyo. In Tokyo afternoon trade, the euro was at $1.1829 against $1.1864 in late US deals on Monday.
Back to News Review index page  

Taiwan's EVA suspends flights to 3 Japanese cities
Taipei: Taiwan's EVA Airways, the Island's second largest carrier, said on Tuesday it will suspend flights to three Japanese cities from June 1 to June 30 due to Severe Acute Respiratory Syndrome (SARS). EVA said a total of 17 weekly flights to Osaka, Fukuoka and Sapporo would be suspended, and the airline would cut flights to Tokyo to one a day from two.
Back to News Review index page  

Lufthansa to offer Boeing's inflight Web service
Frankfurt: Deutsche Lufthansa AG said on Tuesday it had signed a contract with Boeing Co subsidiary Connexion to equip its long-haul fleet with broadband Internet technology from the start of next year. The airline declined to comment on the value of the contract and said it was still deciding what to charge passengers for using the service. The German airline will equip its roughly 80 long-haul planes, including Boeing 747-400s as well as the Airbus A340 and A330 models, it said. Passengers throughout the plane will have access to the technology, a spokesman said.
Back to News Review index page  

Sega says mulling N America sales tie-up with EA
Tokyo: Japanese videogame maker Sega Corp said on Tuesday it will continue to talk with Electronic Arts Inc (EA), the largest US videogame maker, on a sales alliance in the North American market. Senior Sega official Hisao Oguchi, who takes over as company president in June, said in an interview that Sega has received an offer to join hands with EA on North American sales of consumer videogames. He also said Sega wants to reinforce videogame development to attract a wider audience in the United States, the world's largest game market, and will consider alliances with US firms.
Back to News Review index page  

Virgin Express Q1 loss widens
Brussels: No-frills airline Virgin Express said on Tuesday its net loss widened in the first quarter as fewer travellers took to the skies due to concerns over the war in Iraq and fears of terrorist attacks. The Belgian-based carrier also said the second quarter had started well even though yield or income per passenger was squeezed by price competition with other airlines. "It is therefore difficult to project the outcome for the full year, as this will depend significantly upon the discounting policies of our competitors," Virgin Express Chairman David Hoare said in a statement. Hoare said in March he expected a full-year net profit.
Back to News Review index page