■ Economics
S Korea praises China
South Korea's highest economic official voiced cautious optimism yesterday over China's efforts to rein in its overheating economy, saying the country's domestic demand would remain robust. Finance and Economy Minister Lee Hun-jai said South Korea should not overreact to China's "pre-emptive" measures to cool down its economy. "Such measures are designed to prevent a crash-landing," he said. Chinese Premier Wen Jiabao's (溫家寶) remarks last week that Beijing would take strong measures to cool down the economy sparked a sell-off across the region last week. Lee, however, said preventing sharp growth in China could help South Korea's economy in the long run. "Yet we must not be complacent because of our high dependence on the Chinese market," he told reporters.
■ Plasma displays
LG raises investment
South Korea's LG Electronics unveiled a US$580 million investment plan yesterday to strengthen its global position in plasma display panels (PDP). LG said it would spend 666 billion won by the second quarter of next year to raise its monthly PDP production capacity to 285,000 modules from 165,000. LG, the world's third largest PDP maker after Samsung SDI and Fujitsu Hitachi Plasma Display, aims to increase its global market share to 30 percent by next year from last year's 18 percent in the sector. "This investment is to strengthen the PDP module business and attain the position of the world's largest largest producer," it said in a statement. Fujitsu has maintained its global leadership since it produced the world's first commercial 21-inch full-color PDP in 1992.
■ Beer
US brewer buys China stake
Anheuser-Busch said Sunday it is buying a 29 percent stake in a leading Chinese brewer, Harbin Brewery Group Limited, for US$139 million. Harbin, one of the oldest brewers in China, produces the Hapi beer brand. "Harbin fits our strategy of investing in leading companies in growth markets like China with good volume and profit growth potential," said Patrick Stokes, president and chief executive officer of Anheuser-Busch Cos, Inc. The deal marks Anheuser-Busch's second investment in a leading brewer in China. Since 1993, Anheuser-Busch has been a minority investor in Tsingtao Brewery Co, Ltd. The St. Louis brewer currently owns 9.9 percent of Tsingtao, and has an agreement to increase the ownership to 27 percent over the next several years. Anheuser-Busch equity investments include a 50 percent share in Grupo Modelo, Mexico's leading brewer.
■ Copyright
Microsoft releases software
Microsoft Corp is unveiling copyright protection software to allow rented songs or movies to be used on portable players, mobile phones and other devices. The company's latest "digital rights management" software, code-named Janus, was released yesterday. It will give songs and videos purchased through subscription services a sort of digital expiration date that works even when the data is transferred from a computer. The technology also protects the content against piracy. The goal is to make it easier for companies who want customers to rent songs or videos, rather than own them, to also let those users play back the content on portable players.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique