S Korea nominates WTO head
Seoul on Friday nominated South Korean Minster for Trade Bark Taeho to lead the WTO, making him the eighth candidate to be put forward for the top job. Bark’s candidacy was submitted three days before nominations close and as Pascal Lamy, the global trade body’s current director general, prepares to step down on Aug. 31. Although Lamy has said his successor should be chosen on the basis of competence alone, some trade diplomats say it is the turn of a developing country to hold the job. Bark is the second candidate from a rich country and the third from the Asia-Pacific to apply. More could be put forward before the deadline of midnight on Monday.
Court rules against Apple
A court has ordered Apple Inc to pay 1.03 million yuan (US$165,000) to eight Chinese writers and two companies who say unlicensed copies of their work were distributed through Apple’s online store. The Beijing No. 2 Intermediate People’s Court ruled on Thursday that Apple violated the writers’ copyrights by allowing applications containing their work to be distributed through its App Store, according to an official who answered the phone at the court and said he was the judge in the case. He refused to give his name, as is common among Chinese officials. The award was less than the 12 million yuan sought by the authors.
YouTube block to be lifted
Authorities were expected to unblock access to the popular video sharing Web site YouTube yesterday after taking measures to filter blasphemous material and pornography, a Cabinet minister said. Prime Minister Raja Pervez Ashraf in September ordered the blocking of YouTube after the US-based Web site refused to heed the government’s call to remove a controversial anti-Islam video. Interior Minister Rehman Malik said on Twitter the decision to allow access was due to huge public demand, and that the telecoms regulator would install a firewall to maintain a block on unseemly content.
Minister keeps growth target
Finance Minister Pierre Moscovici said he is maintaining an economic growth target of 0.8 percent for next year even after the economy grew less than initially reported in the third quarter. Reaching that goal will depend in part on how economic actors react to changes in banking regulation and on other efforts to try to halt the crisis in the euro zone, as well as on growth in the US, Moscovici said. GDP rose 0.1 percent in the third quarter, half the pace estimated on Nov. 15, statistics institute Insee said on Friday.
Netflix CEO’s fee doubled
Netflix Inc, the world’s largest video-subscription service, doubled the annual compensation of chairman and chief executive officer Reed Hastings to US$4 million. Hastings, 52, will receive US$2 million in salary next year, along with US$2 million in stock options, according to a regulatory filing today by the Los Gatos, California-based company. The executive received a US$500,000 salary this year and US$1.5 million in option allowances, a reduction in stock compensation from last year.
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Swancor Renewable Energy Co (上緯新能源) yesterday announced plans for a 4.4 gigawatt (GW) offshore wind project off Miaoli County as part of its commitment toward Taiwan’s energy transformation, the company said in a statement. The “Formosa 4” project includes three deep-water wind farms 18km to 20km off the coast, Swancor Renewable CEO Lucas Lin (林雍堯) said, adding that planning for the project began last year. A proposal for Formosa 4 was this week submitted to the Environmental Protection Agency (EPA), the company said. Swancor Renewable jointly developed the Formosa 1 project, a 128 megawatt (MW) wind farm about 4km off Miaoli and the
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,