■ Shipping
Cargo technology approved
US federal regulators on Thursday approved technological enhancements allowing more thorough checks of sealed cargo containers, part of the effort to prevent terrorists from using US ports to smuggle explosives or chemical weapons. More than 7 million tractor-trailer-size containers from overseas are unloaded at US ports each year. Checking them is time-consuming, so only a very small percentage gets a thorough inspection. Some containers from overseas ports are now outfitted with electronic tags that act similarly to the transponders put on cars so they can pass through toll plazas without stopping. When such a container arrives at a US port, customs agents can check the tag to get a quick readout on the cargo and determine whether the container was opened or tampered with in transit.
■ Software
Wipro's profit jumps
Software major Wipro yesterday said its net profit jumped 26 percent in the year to last month as it became the second listed IT firm in India to breach the US$1 billion revenue mark. Net profit rose to 10.32 billion rupees (US$240 million) from 8.2 billion rupees a year earlier and total revenues of the New York-listed firm shot up 36 percent to 58.8 billion rupees. "Our combined IT products and services business achieved a significant landmark by recording revenues of US$1.2 billion," Wipro chairman Aziz Premji, said at a press briefing in the southern city of Bangalore. "Revenue from our IT services business alone was US$1 billion," he said. "Looking ahead for the quarter ending June 2004 we expect revenues from our global IT services business to be approximately US$292 million."
■ Wireless
AT&T can name that tune
AT&T Wireless began offering its US subscribers a service Thursday that uses mobile phones to identify the names and performers of more than 1 million popular songs. To use the music recognition service, users dial a three-digit code, then must hold their mobile phone for about 15 seconds near a speaker playing the tune that they want to identify. Moments later, the service sends a text message to the users' mobile phone indicating the title of the song and the name of the recording artist. The first search is free, each subsequent search costs US$0.99, plus standard airtime charges. Subscribers are not charged if the service fails to recognize a song. "We've all been in a situation where we hear a song that we like, but have no idea of its title or who sings it," said Glenice Maclellan, the company's vice president of messaging services. "Now, your wireless phone can `name that tune' for you."
■ Economics
Credit growth worries China
China's Vice Minister of Finance Li Yong said the government is concerned that credit growth is fueling inflation and may cause a buildup of bad loans at the nation's banks. "Too high a credit growth rate can result in inflation and asset price bubbles, generating new non-performing loans," Li said in a speech at the Institute of International Finance conference in Shanghai. "The Ministry of Finance is very worried about that." Investment in steel, cement and aluminum is still rising, in defiance of government attempts to stem lending to overheated industries, according to Li.
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