■ Internet
Firms unready for viruses
Most businesses often aren't protected against computer viruses or other electronic sabotage as insurance companies usually don't cover such claims, the New York Times reported today. Many businesses don't try to buy insurance against damage caused by viruses, worms or hacker attacks as executives often aren't aware that their general-liability policy doesn't cover them, while insurers don't know how to adequately provide coverage for possible losses, the newspaper said. American International Group Inc and Lloyd's of London are among the few insurers that do cover damage from the electronic attacks, the paper said. The insurance ranges in cost from US$5,000 to US$30,000 a year for US$1 million in coverage.
■ Engineering
Alstom reassures China
Embattled French engineering giant Alstom expects that a recent government rescue package will not impact operations in China -- its top strategic market, state press reported yesterday. The recent 3.2 billion-euro (US$3.8 billion) bailout by the French state and banks in consultation with the European Commission has raised some concerns about the company's financial future among Alstom customers. The maker of fast trains, ocean liners and power stations, which operate 11 joint ventures and two wholly-owned companies with 2,400 employees in China, is a key supplier of many of China's major power projects. Alstom is heavily involved in China's mammoth Three Gorges hydro-electric project and the Daya Bay nuclear power station in Guangdong Province.
■ Economic policy
Deficits to be reduced
French President Jacques Chirac and German Chancellor Gerhard Schroeder pledged Sunday to rein in their public deficits which exceed EU budget rules ahead of a meeting of the bloc's leaders later in the week. The two met Sunday for an informal dinner in Paris to coordinate positions ahead of the EU's autumn summit Thursday and Friday in Brussels, a meeting traditionally devoted to economic matters. France and, to a lesser extent, Germany have been in the firing line of the European Commission for running budget deficits that contravene the EU's Growth and Stability Pact, which was designed to keep the 12 countries which use the euro from spending too much and undermining the currency. Both countries are expected to far exceed the deficit limit of 3.0 percent of GDP both this year and next year.
■ Telecoms
Motorola wins Iraq contract
Motorola Inc will probably win the bulk of orders worth as much as US$100 million to build a wireless network in Iraq, said Craig Ehrlich, chairman of the GSM Association, an industry group representing phone companies. "Motorola will probably walk away with the lion's share of infrastructure in Iraq," Ehrlich said in an interview. Total network orders in Iraq will probably be worth between US$50 million and US$100 million over the year ahead, he said. The US will probably push for using equipment based on the global system for mobile communications standard, or GSM, because neighboring countries use it, Ehrlich said. Motorola, the world's No. 4 maker of cellular networks, will build the network in southern Iraq that Mobile Telecom Co will operate as part of a venture called Atheer Telecoms.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from