US backs spending plan
US Treasury Secretary Jack Lew is “very encouraged” by Canada’s infrastructure spending plan and expects it to draw positive reviews at the G20 meeting in Turkey that began yesterday, Finance Minister Bill Morneau said. Morneau spoke to reporters in Antalya, Turkey, Saturday evening ahead of the G20 summit, with leaders due to discuss ways to encourage global growth. Morneau said he spoke to Lew a few days earlier. “One of the things he said to me was that he was very encouraged by our infrastructure spending plan,” Morneau said. “He appreciated our focus on fiscal stimulus and felt that that was something that was going to be reacted to positively by our colleagues here at the G20.”
Gmail ramps up security
Google plans to ramp up security at its free e-mail service by letting users know when messages arrive via unencrypted connections that could be prone to snooping or tampering. “These warnings would begin to roll out in the coming months,” Elie Bursztein and Nicolas Lidzborski of the Gmail security team said in a blog post this week. “While these threats do not affect Gmail to Gmail communication, they might affect messaging between providers.” The announcement came with study results indicating that e-mail encryption is on the rise, along with measures to thwart spam and fraud by better authenticating messages. However, Google said that it found regions of the Internet where e-mail encryption was being covertly thwarted and also uncovered malicious servers programmed to essentially hijack Gmail messages by giving them bogus routing information.
VW finds new faulty cars
Volkswagen AG said 430,000 of its new cars had “implausible” carbon dioxide ratings as it continues talks with regulators in an attempt to address the emissions cheating crisis. The figure means more than half of the roughly 800,000 affected vehicles were from the 2016 model year. Volkswagen is still investigating previous model years and what the correct carbon dioxide ratings should be, the Wolfsburg-based company said in a statement late Friday. Meanwhile, the automaker is to present German authorities today with a fix for 1.6-liter diesel engines fitted with software to cheat tests for polluting nitrogen oxides, according to a person familiar with the plans, who asked not to be named. The proposal is not as complex or expensive as Volkswagen initially feared and could be used across Europe if it is approved in Germany, the person said.
Government seeks help
The government is to seek up to US$12 billion in assistance for infrastructure development during a two-day meeting with funding partners that began yesterday, a senior finance ministry official said. The nation spends only 2 to 3 percent of GDP on such investment, but needs to invest up to 12 percent to achieve the target of becoming a middle-income country, senior finance ministry official Mohammad Mejbahuddin said. “We are to place our requirements to them to ensure infrastructure development to become a middle-income country by 2021,” he told reporters on Saturday. Bangladesh wants to boost investment in infrastructure development by up to six times from current figures in its quest for annual economic growth of 8 percent.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for