Intel, Philips in media tie-up
Intel, the world's biggest chipmaker, and Dutch electronics group Philips are setting up a joint initiative to market home entertainment systems with Intel chips, Intel said yesterday. The US chipmaker will supply a processor, chipset and software for a Philips media center that will allow customers to store and share photos, music and video in a single system, as they promote digital products for the home. The PC-based Philips Showline Media Center will include a card that allows users to watch two TV channels at once, as well as a 250-gigabyte hard disk drive for storing music and photo collections and a recorder for DVDs and CDs.
■ Oil industry
Dispute costs Shell US$9.2m
Oil Giant Shell has been forced to pay out US$9.2 million in legal fees and make changes to its corporate governance structure as part of a settlement with disgruntled shareholders. The case pending in New York and New Jersey courts followed the statement from Shell last January that it had overstated its oil and gas reserves in filings with the US regulator, the securities and exchange commission. Shell still faces a much larger and potentially damaging class action suit from a wider group of shareholders as well as investigations by the operator of the Dutch stock market, Euronext, and a state regulator in California.
China sees export slowdown
China's top development and planning body estimates the country's rapid export growth will begin to slow in the second half of the year as global demand weakens overall, state press said yesterday. "It is expected that significant changes will take place [in export growth] in the second half of this year or in the first half of next year at the latest," the National Development and Reform Commission was cited as saying by the China Securities Journal. It said the country's exports in July rose 30 percent year-on-year to US$65.58 billion -- the lowest monthly increase this year and 5.1 percentage points lower than a year earlier. The growth decline is partly due to a weakening in global demand and China's recent cancellation of tax rebates on high resource-consuming products. Actual foreign direct investment (FDI) in the country fell for four consecutive months. In July, actual FDI fell 4.9 percent from a year ago to US$4.53 billion, the report said.
PRC to legalize direct selling
New legislation will make China's scandal-ridden direct selling industry legal after it was banned nearly a decade ago, a state press report said yesterday. The State Council has laid down a set of stringent rules that will be implemented on Dec. 1 permitting companies to sell directly to the consumer, the Information Times reported. However, to set up a business direct sellers must pay a minimum 20 million yuan (US$2.46 million) deposit and have registered capital of at least 80 million yuan, a Ministry of Commerce official was quoted as saying. Maximum commissions for individuals engaged in direct sales will be 30 percent, up from 25 percent previously before direct sales were banned in 1998, it said. China outlawed direct sales due to widespread pyramid schemes and other fraudulent activities, which in course forced major cosmetic firms like Avon and Amway to sell through retail outlets.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
RECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morning Taipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. The hospital said the 97-year-old Lee was not in good condition and needed ongoing care, adding that if there are any changes in his condition, it would make those public. The comments came after rumors emerged online on Tuesday that Lee had died after being hospitalized since early February. Soon after the unsubstantiated rumors emerged, reporters started flocking to the hospital seeking confirmation. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking
THAI CASE UPDATE: Twenty-nine close contacts of the worker have been tested with two types of tests, including 18 dorm mates, with 28 negative results so far Five imported cases of COVID-19, four from the Philippines and one from Hong Kong, were reported yesterday, bringing the total confirmed cases in Taiwan to 467, the Central Epidemic Command Center (CECC) said yesterday. The four returning from the Philippines were on the same flight, and the local health department has identified 15 people who had direct contact with them — including 10 passengers in the two rows in front or behind them, who have been put under 14-day home isolation, and five crew members, who will practice 14-day self-health management, said Centers for Disease Control (CDC) Deputy Director-General Chuang Jen-hsiang