■ Banking
First Financial to expand
First Financial Holding Co (第一金控) plans to raise its share of the banking market to 12 percent by buying smaller lenders, A Chinese-language newspaper reported, citing chairman Steve Shieh (謝壽夫). The company, whose main banking unit First Commercial Bank (第一銀行) has a 6 percent market share, is seeking targets with a strong niche in the credit card and consumer loans business, Shieh was quoted as saying. First Financial is more likely to buy a bigger lender such as Taishin Financial Holdings Co (台新銀行), which has 3 percent of the banking market, than a company such as SinoPac Holdings Co (建華金控), which has 1 percent, as it seeks to meet its initial target of a 10 percent market share, Shieh told the newspaper. First Commercial Bank is Taiwan's fourth-largest by assets. Shieh was president of Taishin Financial before being named chairman of state-controlled First Financial in August.
■ Computers
Imaging software advocated
When disaster strikes in the form of a system meltdown, many computer users these days are turning to imaging software. With imaging software, within minutes, users can restore an entire computer system to the exact state it was then when the image was taken, according to the computer magazine c't, which recently tested imaging software as a compliment to backup software. While traditional backup software is usually used to back up personal data files, imaging software secures the operating system, files, and all programs installed on a computer. Imaging software takes a "snapshot" of the system, and when used to restore a personal computer that has failed, can recover the system byte for byte.
■ Automobiles
Renault to buy Ssangyong
Renault SA, France's No. 2 carmaker, plans to buy Ssangyong Motor Co, according to a spokesman for the European manufacturer's South Korean venture, Renault Samsung Motor Co. "Renault Group, which is our largest shareholder, submitted a letter of interest for Ssangyong last week," said Ha Tae Eung, a Renault Samsung spokesman. Renault owns 70 percent of the Korean venture, which makes SM5 and SM3 sedans. Chohung Bank and other creditors of Ssangyong want to pick a buyer for their 55.4 percent stake in the country's fourth-largest automaker by next month as part of a debt-recovery plan. The automaker, based in Pyongtaek city south of Seoul, makes Chairman cars as well as Rexton and Kora-ndo sport-utility vehicles.
■ Electronics
DirecTV sale audited
Hughes Electronics Corp told US agencies it will address concerns about foreign ownership of US communications systems if its proposed sale of DirecTV to News Corp is approved, the Washington Post said. News Corp, based in Australia and controlled by Rupert Murdoch, agreed in April to pay US$6.6 billion for a controlling 34 percent stake in DirecTV, the largest US satellite-television provider. The transaction is subject to clearance by the Justice Department and the FCC. Hughes, a division of General Motors Corp, said the audit committee of Fox Entertainment Group, the News Corp unit that would control DirecTV, would be composed solely of US citizens and would have "exclusive jurisdiction" over policies related to national security.
Beijing’s continued provocations in the Taiwan Strait reveal its intention to unilaterally change the “status quo” in the area, the US Department of State said on Saturday, calling for a peaceful resolution to cross-strait issues. The Coast Guard Administration (CGA) reported that four China Coast Guard patrol vessels entered restricted and prohibited waters near Kinmen County on Friday and again on Saturday. A State Department spokesperson said that Washington was aware of the incidents, and urged all parties to exercise restraint and refrain from unilaterally changing the “status quo.” “Maintaining peace and stability across the Taiwan Strait is in line with our [the
EXTENDED RANGE: Hsiung Sheng missiles, 100 of which might be deployed by the end of the year, could reach Chinese command posts and airport runways, a source said A NT$16.9 billion (US$534.93 million) project to upgrade the military’s missile defense systems would be completed this year, allowing the deployment of at least 100 long-range Hsiung Sheng missiles and providing more deterrence against China, military sources said on Saturday. Hsiung Sheng missiles are an extended-range version of the Hsiung Feng IIE (HF-2E) surface-to-surface cruise missile, and are believed to have a range of up to 1,200km, which would allow them to hit targets well inside China. They went into mass production in 2022, the sources said. The project is part of a special budget for the Ministry of National Defense aimed at
READY TO WORK: Taiwan is eager to cooperate and is hopeful that like-minded states will continue to advocate for its inclusion in regional organizations, Lai said Maintaining the “status quo” in the Taiwan Strait, and peace and stability in the Indo-Pacific region must be a top priority, president-elect William Lai (賴清德) said yesterday after meeting with a delegation of US academics. Leaders of the G7, US President Joe Biden and other international heads of state have voiced concerns about the situation in the Strait, as stability in the region is necessary for a safe, peaceful and prosperous world, Lai said. The vice president, who is to be inaugurated in May, welcomed the delegation and thanked them for their support for Taiwan and issues concerning the Strait. The international community
COOPERATION: Two crewmembers from a Chinese fishing boat that sank off Kinmen were rescued, two were found dead and another two were still missing at press time The Coast Guard Administration (CGA) was yesterday working with Chinese rescuers to find two missing crewmembers from a Chinese fishing boat that sank southwest of Kinmen County yesterday, killing two crew. The joint operation managed to rescue two of the boat’s six crewmembers, but two were already dead when they were pulled from the water, the agency said in a statement. Rescuers are still searching for two others from the Min Long Yu 61222, a boat registered in China’s Fujian Province that capsized and sank 1.03 nautical miles (1.9km) southwest of Dongding Island (東碇), it added. CGA Director-General Chou Mei-wu (周美伍) told a