■ US economy
No inflation worry seen
Chicago Federal Reserve President Michael Moskow said Monday he sees no "worrisome" inflation on the horizon that could prompt the US central bank to boost interest rates soon. Moskow reiterated the Fed's plan to be patient in raising US interest rates as long as inflation remains quiescent and hiring lags. "With inflation low, the Fed can be patient in removing its policy accommodation," he said in remarks prepared for a Chicago speech. "However, this stance cannot be maintained indefinitely." But there are few signs of pressure on labor and capital resources that would point to a "worrisome increase" in inflation, said Moskow. "While there is always the potential for imbalances in certain sectors, recent numbers confirm that inflation is still extremely low," he said.
■ Security
Viruses cause more damage
Viruses and other computer attacks have worsened in the past year and have become more costly for firms to deal, according to a survey released Monday. The survey of executives at 300 companies and government agencies worldwide with at least 500 computers "shows conclusively that despite increased spending, both the perception and the reality of the malicious code problem continues to worsen," said the security firm TruSecure, the survey organizer. The survey also found "disaster recovery costs" increased 23 percent over the past year to almost US$100,000 per organization per event. "The re-emergence of `outbreak events' and the success of mass mailers in early 2004 illustrates that organizations are not making enough progress in their defense against malicious code," said Larry Bridwell at TruSecure's ICSA Labs and author of the survey.
■ Operating systems
Linux popular in Brazil
Linux's open source operating system has made significant inroads in Brazil, with more than three quarters of companies surveyed using it to handle at least one application, according to a study released Monday. E-Consulting Corp said 78 percent of large and mid-sized companies surveyed were using Linux software on their servers to handle at least one application. "Brazil today has one of the world's biggest open source movements, so it's natural that more companies are experimenting with the platform," said Daniel Domeneghetti, director of E-Consulting Corp. The survey found that of the US$19 billion Brazilian companies expect to invest annually in information technology, 38.5 percent or US$7.3 billion was destined for work with Linux.
■ South Korea
Consumption taxes lowered
The South Korean government has lowered special consumption taxes on cars, air conditioners, projection televisions and other leisure products to stimulate consumption, officials said yesterday. The cut will run until the end of the year, with tax rates reduced by up to 30 percent, the finance and economy ministry said. Tax cuts for cars will be capped at 20 percent because auto sales account for the bulk of state excise tax revenues, it said. Cars with an engine capacity of more than 2,000cc will have their tax rates lowered from 10 percent to 8 percent. Taxes for air conditioners will be slashed from 16 percent to 11.2 percent.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
BULLY TACTICS: Beijing has continued its incursions into Taiwan’s airspace even as Xi Jinping talked about Taiwan being part of the Chinese family and nation China should stop its coercion of Taiwan and respect mainstream public opinion in Taiwan about sovereignty if its expression of goodwill is genuine, the Ministry of Foreign Affairs (MOFA) said yesterday. Ministry spokesman Jeff Liu (劉永健) made the comment in response to media queries about a meeting between former president Ma Ying-jeou (馬英九) and Chinese President Xi Jinping (習近平) the previous day. Ma voiced support for the so-called “1992 consensus,” while Xi said that although the two sides of the Taiwan Strait have “different systems,” this does not change the fact that they are “part of the same country,” and that “external
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source