Hawaiian Airlines begins Seattle-Maui service

Hawaiian Airlines today launched its new Seattle-Maui direct service, offering travelers from the Pacific Northwest an alternative to making one or more stops on the mainland or in Hawaii.

The service runs daily between Seattle-Tacoma International Airport and Kahului Airport, leaving Seattle at 11:10 a.m. and leaving Maui on the return trip at 4:15 p.m.

Hawaiian is using its new Boeing 767-300ER jets seating 234 passengers in coach and 24 in first class. The airline is replacing its fleet of DC-10 widebody planes with the new Boeings.

First Hawaiian parent finalizes Calif. bank deal

Paris >> BNP Paribas SA, France's largest bank and parent of First Hawaiian, said it completed the $2.4 billion acquisition of United California Bank, making it Calfornia's fourth-biggest retail bank.

The acquisition will add to the French bank's earnings from 2003, BNP Paribas Chief Executive Officer Baudouin Prot said in a faxed statement. He cited "the high potential" of the U.S. West Coast banking market and planned cost-savings, according to a Bloomberg News report.

BNP will merge United California, which has $10.8 billion in assets and was previously controlled by UFJ Holdings, Inc. of Japan, with its BancWest unit. The combined bank will rank as the 29th-biggest bank in the U.S. with assets of $30.6 billion.

Tesoro refinery in Kapolei reopened after small fire

A small Monday fire at Tesoro Hawaii's Kapolei refinery did not cause any damage or affect operations or gas supply, a company spokesman said yesterday.

Insulation material surrounding the refinery's heat exchanger unit caught fire around noon, and an on-site company fire brigade had the flames under control within 10 minutes, spokesman Nathan Hokama said. The firm contacted the Honolulu Fire Department as a matter of protocol, Hokama said.

The heat exchanger unit, which helps the refinery to run efficiently, was shut down so it could cool off, and was back in operation on Wednesday.

The rest of the refinery was not shut down and continued operating as usual, Hokama said.

Hawaii's protea research draws global attention

Hawaii's research on the protea received international attention this week at a conference at Maui's Wailea Renaissance Hotel.

Scientists and industry specialists from around the world attended the International Protea Association's biennial conference, which ended yesterday.

University of Hawaii scientists from the College of Tropical Agriculture and Human Resources have been conducting groundbreaking research in support of the local protea industry to make the flower last longer, be more resistant to disease and lighter in weight for shipping.

In Hawaii, protea sales were valued at $1.4 million in 2000.

Producer prices rose 0.2 percent in February

WASHINGTON >> Prices paid to factories, farmers and other producers rose 0.2 percent in February, led by increases for food and gasoline, Bloomberg News reported. Prices excluding food and energy were unchanged, a sign the rebounding economy has yet to aggravate inflation.

The increase in the producer price index followed a 0.1 percent gain in January, the Labor Department said today.

Excluding food and energy, prices were unchanged, reflecting cheaper passenger cars and computers, after falling 0.1 percent. Compared with a year earlier, the total index was down 2.6 percent.

Companies such as Gateway Inc. are dropping prices in order to stay competitive and increase sales as the economy rebounds from recession.

China retail sales up 9.1% in February

BEIJING >> China's retail sales growth accelerated in February as the Lunar New Year holiday boosted spending on food and other goods, though rising unemployment and slowing growth may cap spending in coming months.

Sales rose 9.1 percent from a year earlier, the National Bureau of Statistics said, without giving the value of sales for the month. That compared with a 7.9 percent gain in January.

While China needs its 1.3 billion consumers to keep spending to help the economy grow 7 percent this year, domestic demand may flag in coming months. The government expects the jobless rate to rise as high as 4.5 percent this year from 3.1 percent as state companies cut workers to face stiffer foreign competition.

New Zealand visitors boost spending 9.8%

WELLINGTON , New Zealand >>Spending by visitors to New Zealand last year rose almost 10 percent from a year earlier, boosted by a 7 percent rise in the number of tourists, New Zealand's government said.

A survey of international visitors estimated that tourists spent NZ$5.24 billion ($2.3 billion) in 2001, NZ$469 million more than in 2000.

Japanese visitors were the biggest spenders at an average NZ$4,414 each, with U.S. visitors a close second at NZ$4,363. Japanese and U.S. tourists accounted for fewer than 20 percent of the country's 1.9 million international visitors in 2001. Australians account for one-third of all New Zealand's international visitors and spent the least last year at an average NZ$1,744 each.

BG resolves dispute over Enron gas field in India

MUMBAI, India >> BG Group Plc. agreed with Indian partners to jointly manage natural gas fields in Panna, Mukta and Tapti formerly run by Enron Corp., ending a five-month dispute sparked when Enron offered its stake to the No. 3 U.K. gas producer, a partner said.

BG in February paid the bankrupt energy trader $350 million for 30 percent of the fields, dropping its price from $388 million because Enron couldn't guarantee operating rights. India's Oil & Natural Gas Corp. owns 40 percent and Reliance Industries Ltd. the rest. Both claimed the right to run the fields. An end to the dispute will help BG expand in a fast-growing gas market. India's need for imported gas may increase fivefold by 2012, the government estimated.

South Korea jobless rate falls to 4-year low

SEOUL >> South Korea's jobless rate fell in February to the lowest in more than four years as Hyundai Engineering & Construction Co. and other builders hired more workers to meet rising demand for housing and finish stadiums and roads in time for June's World Cup soccer tournament.

Unemployment fell for a third month to 2.8 percent, seasonally adjusted, from 3.2 percent in January, the National Statistical Office said. That was the lowest level since October 1997. The falling jobless rate, which has tumbled from a peak of 7.8 percent in January 1999, is the latest sign Korea is resisting a global slump that tipped neighbors Japan and Taiwan into recession last year.