■ Trade
US beef arrives in Japan
The first shipment of US beef to Japan in nearly two years arrived yesterday at an airport outside Tokyo following the easing of the country's import ban, Japan's Health Ministry said. Japan slapped a ban on imports of US beef in December 2003 after the first case of mad cow disease was reported in the US herd. After two years of negotiations and a lengthy Japanese approval process, Tokyo opened its doors Tuesday to meat from US cows aged 20 months or less. The first shipment from the US arrived yesterday morning at Narita International Airport, just east of Tokyo, the Health Ministry said in a statement. Japan agreed to allow imports of meat from cattle younger than 21 months because no cases of mad cow disease have ever been found in cows that age.
■ Telecoms
Nokia plans Chennai center
Nokia Corp said yesterday it will open a new global networks solution center next year in Chennai, southeastern India, to make its service providers more competitive on international markets. The center will serve selected operator customers in the Asia Pacific region as well as Europe, the Middle East and Africa, the world's largest mobile phone maker said. "This center will play a key role for us in our drive to ease the cost pressures that our clients are feeling," Bosco Novak, a senior vice president in the networks division, said in New Delhi. "India is a very important market for Nokia and we're pleased to expand our presence here." The networks center will open during the first half of next year and will initially employ 100 people, but will be expanded later, the company said. It gave no value for the investment.
■ Software
Oracle posts profit drop
Business software giant Oracle Corp said on Thursday its past-quarter profit was US$798 million, down 2 percent from a year ago amid higher expenses after its acquisition spree. Still, the profit for the second fiscal quarter to Nov. 30 excluding special items of US$0.19 a share was in line with most analyst forecasts. Revenues grew 19 percent from a year ago to US$3.29 billion as Oracle benefited from its acquisition of rival PeopleSoft. Oracle in the past year has also announced the acquisition of rivals Siebel Systems and Retek in an effort to go head-to-head with Germany's SAP in the area of business management software. "The most difficult place to beat SAP is in their home country of Germany," Oracle president Charles Phillips said.
■ Finance
Argentina to pay off debts
Argentina will repay its entire debt to the IMF using its currency reserves, President Nestor Kirchner said after a similar move was announced by Brazil. Kirchner said the debt to be repaid before the end of the year amounts to US$9.81 billion. The move by Kirchner highlights the strong economic rebound in the South American nation after its unprecedented default four years ago. It also marks a rupture in years of often-tense relations between Buenos Aires and the IMF. Kirchner told a press conference the payment would come from Argentina's currency reserves estimated to be over US$26 billion. He noted that Argentina had already repaid about US$6 billion to the IMF since the economic crisis began in late 2001.
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