■ Television
EU OKs Philips, TPV sale
The EU's executive commission said yesterday it had cleared the acquisition of parts of the computer monitor and flat-screen television business of Dutch group Philips by Hong Kong-based firm TPV Technology (冠捷科技). The companies agreed in December to combine their personal computer (PC) monitor and flat-screen television businesses. TPV will take over the original equipment manufacturer monitor business of Philips as well as production of some low-end flat screen products. Philips will in return get a 30 percent stake in TPV. Although the combined group would become the world's largest maker of PC monitors, the commission said it would continue to face strong competition from Samsung, LGE or BenQ.
■ Singapore
Unemployment rate grows
Singapore's unemployment rate in the three months to June crept up slightly to 3.4 percent from a revised 3.3 percent in the previous quarter as fresh graduates joined the search for jobs, preliminary estimates released yesterday showed. The manpower ministry said in its preliminary report that 27,700 jobs were created in the June quarter, an improvement from 17,800 in the previous three months and 10,900 for the same period last year. "All the major sectors saw higher employment growth compared with the preceding quarter and the same quarter in 2004," the ministry said. The manufacturing sector, a major pillar of the economy, generated 8,900 new jobs while the services sector created 15,200.
■ Malaysia
Auto industry to get boost
A highly anticipated new tax and tariff structure for Malaysia's troubled auto industry may be announced as early as this week, a report said yesterday. The government is expected to address several issues affecting the motor industry, including discrepancies arising from the changes in tax structure announced early this year, which have put local assemblers at a disadvantage compared with those in other regional countries, it said. Taxes for locally assembled and fully imported cars may be reduced, it said, but quoted a source familiar with the policy as saying that the government wants to ensure car prices remain unchanged and that no new taxes are expected. Malaysia had previously promised to cut tariffs on cars made by members of the Association of Southeast Asian Nations (ASEAN) to 20 percent this year and to five percent by 2008.
■ Australia
No rate rise: central bank
Australia's central bank indicated yesterday it will keep interest rates on hold at 5.5 percent through this year because of "evenly balanced" inflation. In its quarterly monetary policy statement, the Reserve Bank of Australia was upbeat about Australia's economy and the inflationary outlook while removing its previous reference to interest rates likely rising. The bank said the risk of inflation had subsided from previous quarters, easing the upward pressure on rates. Core inflation, which is currently 2.5 percent, should peak near 3 percent in the second half of next year and that rise should be limited, it said. The bank adjusts its benchmark interest rate to keep inflation within a range between 2 percent and 3 percent.
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
‘OF COURSE A COUNTRY’: The president outlined that Taiwan has all the necessary features of a nation, including citizens, land, government and sovereignty President William Lai (賴清德) discussed the meaning of “nation” during a speech in New Taipei City last night, emphasizing that Taiwan is a country as he condemned China’s misinterpretation of UN Resolution 2758. The speech was the first in a series of 10 that Lai is scheduled to give across Taiwan. It is the responsibility of Taiwanese citizens to stand united to defend their national sovereignty, democracy, liberty, way of life and the future of the next generation, Lai said. This is the most important legacy the people of this era could pass on to future generations, he said. Lai went on to discuss
AMENDMENT: Climate change is expected to increase the frequency of high-temperature days, affecting economic productivity and public health, experts said The Central Weather Administration (CWA) is considering amending the Meteorological Act (氣象法) to classify “high temperatures” as “hazardous weather,” providing a legal basis for work or school closures due to extreme heat. CWA Administrator Lu Kuo-chen (呂國臣) yesterday said the agency plans to submit the proposed amendments to the Executive Yuan for review in the fourth quarter this year. The CWA has been monitoring high-temperature trends for an extended period, and the agency contributes scientific data to the recently established High Temperature Response Alliance led by the Ministry of Environment, Lu said. The data include temperature, humidity, radiation intensity and ambient wind,
SECOND SPEECH: All political parties should work together to defend democracy, protect Taiwan and resist the CCP, despite their differences, the president said President William Lai (賴清德) yesterday discussed how pro-Taiwan and pro-Republic of China (ROC) groups can agree to maintain solidarity on the issue of protecting Taiwan and resisting the Chinese Communist Party (CCP). The talk, delivered last night at Taoyuan’s Hakka Youth Association, was the second in a series of 10 that Lai is scheduled to give across Taiwan. Citing Taiwanese democracy pioneer Chiang Wei-shui’s (蔣渭水) slogan that solidarity brings strength, Lai said it was a call for political parties to find consensus amid disagreements on behalf of bettering the nation. All political parties should work together to defend democracy, protect Taiwan and resist
RSS