■ Traveller Checks
China tightens rules
China tightened rules on the purchase of foreign currency-denominated traveler's checks by companies as the government seeks to control the illegal flow of foreign exchange and fight money laundering. Starting April 1, local companies and China-registered overseas companies who buy these checks must pay for them using their foreign currency capital or current accounts, or their yuan accounts, the State Administration of Foreign Exchange said in a statement. Payments cannot be made in cash, the statement said. China wants to prevent an exodus of foreign reserves, used to maintain the yuan's nine-year fixed exchange rate against the US dollar. Under the new rules, companies are banned from using these traveler's checks for trade or investment purposes.
■ Domains
New suffices applied for
Microsoft Corp and Nokia Oyj are among several companies that formed groups to sponsor new Internet domains, including ".mobi" for mobile-telephone services and ".xxx" for adult content, Associated Press reported, citing the Internet Corporation for Assigned Names and Numbers. Ten organizations paid US$45,000 to apply for suffices that are to be set aside for specific industries and interest groups, AP said. The deadline for applications was Tuesday, and applications will be reviewed and discussed during April and May. The new domains could be approved as early as this year, becoming the first new additions since 2000, AP reported. Unlike most common domains, such as ".com," Internet addresses based on the new suffixes would be available to people, organizations or businesses that comply with rules set by the sponsoring groups, AP reported.
■ Hong Kong
More 3G licenses offered
Hong Kong's Office of the Telecommunications Authority plans to auction a new mobile phone license next year that could provide third-generation compatible services, the South China Morning Post reported, citing a proposal from the industry watchdog. The regulator proposed issuing a new license using the CDMA2000 technology, which enables users to access data services such as video and Internet browsing at two megabits per second, similar to the speed of the CDMA 3G platform, the English-language newspaper said. It plans to issue the license valid for 15 years after retrieving two existing licenses from Hutchison Telecom, a unit of Hutchison Whampoa Ltd and CSL Ltd when they expire in the second half of 2005, the report said.
■ Copyright
Thailand destroys fake CDs
Thailand yesterday destroyed over 1 million pirated goods in a bid to highlight its sincerity in tackling intellectual property crime, days before opening free-trade talks with the US. Steamrollers, knives and spray paint were used to destroy 1.18 million fake goods confiscated in a year-long piracy crackdown, including music CDs and movie DVDs, soft toys, brand name bags, designer clothing, and watches. The fake items, which are illegal in Thailand but widely produced and sold openly on the streets and in shops, had a street value of 142.5 million baht (US3.6 million). Negotiations on a free-trade agreement (FTA) between Thailand and the US, the largest importer of Thai goods, will be launched March 23 in Washington, the US-ASEAN Business Council has said.
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