■ Nuclear power
Westinghouse may get deal
US-based Westinghouse Electric Co could be awarded a multi-billion dollar contract for a set of nuclear reactors during the upcoming visit of Chinese President Hu Jintao (胡錦濤) to Washington, the Wall Street Journal reported on Thursday. Westinghouse is the US nuclear arm of British Nuclear Fuels PLC, and has been vying with companies from France and Russia for contracts to build four pressurized water reactors in China. The paper said a Chinese official at China National Nuclear suggested a deal could be in the works, but Westinghouse executives said they hadn't heard about their bid. Hu will meet with US president George W. Bush in Washington on Sept. 7 and is expected to visit the US companies of Boeing and Microsoft in Seattle, Washington.
■ Business outlook
German confidence falls
German business confidence declined slightly this month, a key survey showed yesterday. The closely watched business climate index, calculated each month by the Ifo economic research institute, slipped to 94.6 points in August from 95.0 last month, Ifo said in a statement. The figure fell below analysts' consensus forecast of a slight rise to 95.2 points. "All in all, the results are not an obstacle to a modest upward trend in the next few months," Ifo president Hans-Werner Sinn said in a statement. The index had posted a noticeable rise last month from 93.3 points in June. A breakdown of this month's data showed the six-month expectations sub-index edged up 0.3 points to 95.4, while the current sentiment sub-index fell 1.1 points to 93.8.
■ Telecoms
Telestra sale to go ahead
The Australian government's plan to sell its A$30 billion (US$23 billion) stake in the country's giant telecommunications firm Telstra overcame a final hurdle yesterday when a rebel senator agreed to back it. Senator Barnaby Joyce of the governing coalition's junior partner, the National Party, had threatened to block the sale for fear people living in the sparsely populated outback would be ignored after privatization put profits first. But Joyce, who held a deciding vote in the senate where the coalition has a majority of just one, said yesterday he would accept the sale provided regulations obliging the company to provide services to the outback were toughened up.
■ Flat-panels
Sony, Samsung expand JV
Sony will broaden its involvement in a joint venture with Samsung making hi-tech flat-screen televisions in an effort to drive down costs and boost quality, a spokeswoman said on Thursday. The Japanese electronics giant has already invested about ?100 billion (US$910 million) on a joint venture with Samsung in South Korea that started producing liquid crystal display (LCD) panels in April. "We are in talks to improve the LCD production, the cost and quality of the panels, in cooperation with Samsung," said Mina Saito, a spokeswoman at Sony. At present LCD screens made by the joint venture are based on products developed by Samsung, while Sony completes production by adding components such as drivers, backlights and turners. Sony aims to make the screens more competitive by participating more in the early stage of their production.
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