A member of the Iraqi Governing Council said Lebanon will return the Iraqi millions in its banks, but he gave no indication Friday of when it will happen. \nMouwafak al-Rubaie met the speaker of Lebanon's parliament, Nabih Berri, together with fellow Governing Council member Younadem Kanna. \n"The talks were good, and we spoke about the Iraqi money held in Lebanon. We heard good comments that Iraqi money in Beirut will be released," al-Rubaie said. He did not elaborate. \nIn May, a US Treasury official said Lebanon had US$495 million in Iraqi funds from the years when former Iraqi President Saddam Hussein was in power. Lebanon has acknowledged it has Iraqi money, but it has not released a figure. Its authorities have said the money will be returned when Iraq has a sovereign government. \nIn November, Iraqi Finance Minister Kamel al-Gailani said in Beirut that Lebanon and Iraq were developing a means of returning the Iraqi assets. \nAl-Rubaie's comments came a day after he and Kanna held talks with Syrian President Bashar Assad in Damascus about the Iraqi funds in Syrian banks, which are estimated at US$300 to US$500 million. \nKanna said afterward that Assad told him "the Iraqi money that exists in Syria is secure and will be turned over to Iraqi authorities." \nBut Kanna reported Assad as saying the money would be given to an elected Iraqi government, not the current US-appointment administration. \nIt is likely that Lebanon, which closely follows Syria in diplomacy, will adopt the same position. \nRelations between Lebanon and the US-appointed Governing Council have been cool because of Lebanon's strong opposition to the US occupation of Iraq. Lebanon still has not recognized the council as representing the Iraqi people.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
STAYING AHEAD: TSMC expects its sales this year to grow 14 to 19 percent and could spend up to US$3.52 billion on research and development, leaving its rivals far behind Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) reported that the US last year approved 99 percent of its patent applications, which placed the tech giant among the top patent holders in the US. In its Corporate Social Responsibility Report, TSMC said it last year secured about 3,600 patents worldwide, including more than 2,300 in the US. As of the end of last year, TSMC owned more than 39,000 patents, the report said. The company last year filed almost 6,500 patent applications worldwide and ranked among the top 10 patent applicants in the US. In Taiwan, it was the largest patent applicant for the fourth