■ Semiconductors
Hynix debt plan rejected
Hynix Semiconductor Inc, the world's third-largest maker of computer-memory chips, failed to get approval on a plan aimed at reducing more than 1 trillion won (US$869 million) of debt, its largest shareholder said. The proposal, which involved asking banks to accept losses on some of their credits to the South Korean chipmaker, failed after Korea Development Bank rejected the idea and demanded early payment, said Min Seung-ki, head of the Hynix team at Korea Exchange Bank. Hynix is 81 percent owned by Korea Exchange and other credi-tors. It wants to cut debt as higher chip prices allow the company to forecast its first annual profit since 1999.
■ Mobile Phones
Sharp wants 10% growth
Sharp Corp, Japan's largest maker of liquid crystal display panels, is targeting 10 percent annual growth in mobile phone sales, corpor-ate executive director Masafumi Matsumoto said. Sharp also aims to take between 4 percent and 5 percent of the global hand-set market in the long term, compared with 2 percent now, Matsumoto told a press conference in Tokyo. Sharp's mobile-phone sales rose more than expected in the April-to-June quarter, Matsumoto said.
■ Trade
China upset at US duties
Beijing expressed concern yesterday at a preliminary US decision to impose anti-dumping duties of up to 112.81 percent on imports of Chinese shrimp but said both sides should address the dispute calmly. "China expresses concern over the relevant decision made by the US side," Foreign Ministry spokeswoman Zhang Qiyue (章啟月) told a news conference. "It's quite normal to have some trade conflicts with the back-ground of the rapid develop-ment of the two countries' trade and economic rela-tions," she said. Vietnam on Wednesday called the decision to impose duties up to 93.13 percent on its exports unjust and bad for its shrimp farmers and consumers. A final decision on the duties is expected in November.
■ Aviation
Charters buy Boeing's 7E7
Blue Panorama of Italy and First Choice Airways of the UK, are the first in Europe that plan to buy Boeing's new 7E7 Dreamliner pas-senger jets, the company said on Wednesday. Blue Panorama plans to order four of the jets while First Choice expects to buy six, Boeing said. The 10 planes would be worth US$1.2 billion at list prices. Deliveries would begin in 2009, Boeing said. Mike Bair, Boeing's senior vice president in charge of the 7E7 program, said the two charter airlines are pri-marily interested in the 7E7-8, which seats 217 passen-gers in three classes and can fly nearly 9,800 miles.
■ Software
Judge OKs settlement
A California judge granted final approval in a US$1.1 billion settlement between Microsoft Corp and con-sumers, who accused the company of violating state antitrust and unfair com-petition laws. The judge said the settlement was "fair, reasonable and adequate compensation" for more than 14 million eligible consumers. He dismissed all objections to the settlement, which was reached in January last year. The settlement stems from a class-action lawsuit filed in 1999. Microsoft must distribute up to $1.1 billion in the form of vouchers for computers and software products.
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