Infineon spin-off dragging on
Infineon AG's plans to spin-off its memory chip division are "hopelessly behind schedule" and threaten a planned share sale for the division this summer, Welt am Sonntag reported, citing an unidentified Infineon manager working on the project. It's unlikely that Infineon will be able to make the initial public offering this year, the manager told the German weekly. Infineon still has not clarified details necessary for the banks working on the share sale to move the project forward, an unidentified investment banker told Welt am Sonntag.
Japan may legalize casinos
Japan's ruling party is mulling plans to legalize casinos in a bid to attract more foreign tourists to the country, a news report said yesterday. Quoting unidentified lawmakers, Kyodo News agency said the Liberal Democratic Party would encourage lifting Japan's ban on gambling parlors, following in the footsteps of Singapore, which last year reversed its decades-old ban on casinos. The subcommittee plans to produce an interim report in April that will outline possible legal changes, Kyodo said.
Swiss autoshow opens soon
Automakers will be showing off their flash and frugality side by side at the Geneva auto show as they introduce edgy models aimed at drivers looking for style. But mindful that consumers are feeling the high price of gasoline, automakers at the 76th International Motor Show will also be touting new fuel-efficient engines, diesel-powered vehicles and smartly designed hybrids. The Swiss show opens to the public on Thursday and runs until March 12. It will host 262 exhibitors from more than 30 countries, displaying 924 makes and models.
Mitsubishi losing in China
Mitsubishi Electric is planning on drastically scaling back its money-losing handset business in China and sacking about 200 employees, a report said. The Japanese company plans to close three of the four bases held by Mitsubishi Soyea Mobile Communication Equipment at the end of next month, Jiji Press news agency said late on Saturday. Headquartered in Beijing, Mitsubishi Soyea is 36 percent owned by Mitsubishi Electric. The company plans to gradually reducing its capital participation ratio, but wants to remain a stakeholder in the venture as "a foothold for the future," the agency quoted an anonymous Mitsubishi official as saying.
State-run firms lose money
Seven Taiwanese state-run companies registered combined pre-tax losses of NT$4.017 billion (US$123 million) last month, the Commission of National Corporations (CNC) reported yesterday. Taiwan Sugar Corp (台糖), Taiwan Water Corp (台灣自來水), China Shipbuilding Corp (中船) and Aerospace Industrial Development Corp (漢翔) made record profits for last month, but Chinese Petroleum Corp (CPC, 中油), Taiwan Power Co (Taipower, 台電) and Tang Eng Iron Works Corp (唐榮) all operated in the red. Affected by high prices of crude oil, coal and natural gas on the world markets, CPC and Taipower posted pre-tax losses of NT$3.246 billion and NT$1.256 billion, respectively. Tang Eng Iron Works also registered pre-tax losses of NT$40 million due to dropping steel prices.
SAFETY RISK: The government is working to categorize countries based on their COVID-19 cases and prevention efforts, which would determine quarantine periods The government plans to rank countries based on their COVID-19 risks to determine how to treat tourists and other travelers from those nations once Taiwan reopens its borders, but it is still working out the categories, a top health official told lawmakers yesterday. “We would divide countries around the world into several categories. One category would comprise those countries with very few confirmed COVID-19 cases, such as New Zealand and Palau. Travelers from the countries in this category would only need to practice self-health management,” Centers for Disease Control Deputy Director-General Chuang Jen-hsiang (莊人祥) told a Legislative Yuan seminar hosted by
China would attack Taiwan if there is no other way of stopping it from becoming independent, Chinese General Li Zuocheng (李作成) said yesterday. Speaking at Beijing’s Great Hall of the People on the 15th anniversary of China’s “Anti-Secession” Law, Li, who is chief of the Joint Staff Department of the Chinese People’s Liberation Army Central Military Commission, left the door open to using force. The 2005 law is China’s legislative basis for military action against Taiwan. “If the possibility for peaceful reunification is lost, the people’s armed forces will, with the whole nation, including the people of Taiwan, take all necessary steps to
SECURITY CONCERNS: The Telecom Technology Center ran black-box tests for the Executive Yuan on devices and software from Chinese, US and South Korean firms Network devices from several Chinese manufacturers are insecure and allow personal information to be leaked, testing commissioned by the Executive Yuan has shown. A variety of devices and software, including apps, from Chinese, US and South Korean manufacturers that are used by government agencies at the central and local level were subjected to black-box testing — in which the functionality of an application is examined without knowing about its internal structure, an information-security official said yesterday on condition of anonymity. The Telecom Technology Center conducted the tests, which simulated cyberattacks, to determine their resilience to the attacks, the official said. The center
RELATIONSHIP ‘TERMINATED’: US Speaker Nancy Pelosi said that the president’s action was ‘an act of extraordinary senselessness,’ a tone Chinese media echoed US President Donald Trump on Friday announced that Washington would withdraw funding from the WHO, end Hong Kong’s special trade status and suspend visas of Chinese graduate students suspected of conducting research on behalf of their government. Trump said in a White House announcement that Chinese officials “ignored” their reporting obligations to the WHO and pressured the organization to mislead the public about the outbreak. “We have detailed the reforms that it must make and engaged with them directly, but they have refused to act,” he said. “Because they have failed to make the requested and greatly needed reforms, we will be