BUSINESS BRIEFS
CEO has plans for rural parcel
Advertiser News Services
KONA, Hawai'i — A Big Island businessman is planning to develop a remote tract of nearly 2,000 acres once sought by Hawai'i Volcanoes National Park.
Ken Fujiyama, chief executive of the land's owner, Hawaii Outdoor Tours Inc., has asked Hawai'i County to approve subdividing the agriculturally zoned parcel in the rural Ka'u region into 90 lots.
The National Park Service had sought to acquire the property from Fujiyama in 1988, but the parties couldn't agree on a price during several years of negotiations. Under federal law, the park service cannot pay more than the appraised value of a piece of land.
EU DEAL TARGETS SUGAR SUBSIDIES
BRUSSELS, Belgium — The European Union agreed on a major overhaul of its sugar subsidy program yesterday, cutting prices by 36 percent in a landmark deal.
The EU said it would effectively end its dumping of cheap sugar on the world market and strengthen its hand in upcoming world trade talks in Hong Kong. However, Caribbean producers decried the deal, which will phase out their preferential access to Europe's high-price market.
CHINA TO ADJUST PATENT LAW
SHANGHAI, China — China plans to adjust its patent law to better meet its WTO obligations, boost innovation and safeguard economic security, state media reported yesterday.
China joined the World Trade Organization in 2001 with pledges to open its own markets and fight commercial piracy that costs Western companies an estimated $16 billion in lost sales each year.
