■ Forecasts
Automation to cost jobs
Automation of infotech infrastructure services and business processes is set to result in significant job losses in developed countries starting next year, a study forecast yesterday. More niche jobs will be on the line in parts of Asia, the US and Europe, according to research house Gartner Inc. The impact will be felt predominantly by IT departments in large companies and external service providers over the next two to 10 years. "The trend toward offshore services has monopolized attention in terms of job losses," Glanluca Tramacere, Gartner's IT services analyst, told The Business Times. The increasing reliance on highly automated infra-structures "will significantly reduce the need for manual procedures and direct involvement of the workforce," he added.
■ Mobile Phones
NEC eyeing 3G in China
Japanese electronics giant NEC Corp said yesterday it is seeking to build third-generation (3G) mobile phone infrastructure in China in a bid to gain a foothold in the world's biggest mobile phone market. NEC said it had been in talks with China Mobile Communications Corp, the country's biggest mobile phone operator, and China Telecommunications Corp to sell 3G equipment. Beijing is expected to allow local telecommunications firms to offer 3G services next year, the Nihon Keizai business daily said. "We are ready to enter the 3G market in China," said NEC spokes-woman Akiko Shikimori. NEC has set up a showroom for 3G ground stations and other equipment in Guang-zhou and plans to sell 3G-related equipment.
■ Flat Panels
Samsung ahead of schedule
Samsung Electronics Co, the world's largest maker of flat panels used in televisions and monitors, may begin running its newest liquid crystal display (LCD) plant ahead of schedule in anticipation of rising demand for LCD TVs. The Suwon, South Korea-based budgeted an initial 286.7 billion won (US$274 million) to build the 7-2 plant, located west of the current line that Samsung jointly invested in with Japan's Sony Corp, Samsung said yesterday in a state-ment. Smaller rival LG Philips LCD Co said on Dec. 1 it plans to spend a record 5.3 trillion won to build the world's largest LCD plant. Samsung said production from the plant, whose dimensions and capacity have not yet been decided, is scheduled to begin in the first half of 2006. Spokesman Kim Chung Hyun said in May that the company planned to begin production from a new plant, geared to make LCD TV panels measuring more than 40 inches diagonally, during the second half of 2006.
■ Currencies
China reiterates yuan policy
The People's Bank of China, the country's central bank, reiterated yesterday its intent to maintain the basic stability of the yuan's exchange rate at "rational" and "balanced" levels. The monetary policy committee of the central bank, in its fourth quarter regular meeting, said it would further improve the exchange rate system and maintain the basic stability of the currency. China's currency has been pegged at around 8.28 to the dollar for the past decade but policy-makers have been coming under increasing pressure to revalue the yuan. Beijing has long stated it wants to make its foreign exchange regime more flexible but it has declined to give a specific timetable for its plans.
Beijing’s continued provocations in the Taiwan Strait reveal its intention to unilaterally change the “status quo” in the area, the US Department of State said on Saturday, calling for a peaceful resolution to cross-strait issues. The Coast Guard Administration (CGA) reported that four China Coast Guard patrol vessels entered restricted and prohibited waters near Kinmen County on Friday and again on Saturday. A State Department spokesperson said that Washington was aware of the incidents, and urged all parties to exercise restraint and refrain from unilaterally changing the “status quo.” “Maintaining peace and stability across the Taiwan Strait is in line with our [the
EXTENDED RANGE: Hsiung Sheng missiles, 100 of which might be deployed by the end of the year, could reach Chinese command posts and airport runways, a source said A NT$16.9 billion (US$534.93 million) project to upgrade the military’s missile defense systems would be completed this year, allowing the deployment of at least 100 long-range Hsiung Sheng missiles and providing more deterrence against China, military sources said on Saturday. Hsiung Sheng missiles are an extended-range version of the Hsiung Feng IIE (HF-2E) surface-to-surface cruise missile, and are believed to have a range of up to 1,200km, which would allow them to hit targets well inside China. They went into mass production in 2022, the sources said. The project is part of a special budget for the Ministry of National Defense aimed at
READY TO WORK: Taiwan is eager to cooperate and is hopeful that like-minded states will continue to advocate for its inclusion in regional organizations, Lai said Maintaining the “status quo” in the Taiwan Strait, and peace and stability in the Indo-Pacific region must be a top priority, president-elect William Lai (賴清德) said yesterday after meeting with a delegation of US academics. Leaders of the G7, US President Joe Biden and other international heads of state have voiced concerns about the situation in the Strait, as stability in the region is necessary for a safe, peaceful and prosperous world, Lai said. The vice president, who is to be inaugurated in May, welcomed the delegation and thanked them for their support for Taiwan and issues concerning the Strait. The international community
COOPERATION: Two crewmembers from a Chinese fishing boat that sank off Kinmen were rescued, two were found dead and another two were still missing at press time The Coast Guard Administration (CGA) was yesterday working with Chinese rescuers to find two missing crewmembers from a Chinese fishing boat that sank southwest of Kinmen County yesterday, killing two crew. The joint operation managed to rescue two of the boat’s six crewmembers, but two were already dead when they were pulled from the water, the agency said in a statement. Rescuers are still searching for two others from the Min Long Yu 61222, a boat registered in China’s Fujian Province that capsized and sank 1.03 nautical miles (1.9km) southwest of Dongding Island (東碇), it added. CGA Director-General Chou Mei-wu (周美伍) told a