■ Internet
Baidu to enter Japan soon
Chinese Internet company Baidu (百度), often referred to as the local equivalent of Google, plans to enter the Japanese search market next year, the company said yesterday. Following half a year of research into local market conditions, Baidu was getting ready to launch in Japan, the NASDAQ-listed company said in a statement. "Our proven strength in non-English language search, the high Internet penetration in Japan, as well as similarities between the Chinese and Japanese languages make this market an ideal next step for Baidu," CEO Robin Li (李彥宏) said.
■ Taxation
HK axes controversial plan
Hong Kong's government yesterday dumped an extremely unpopular proposal for a sales tax amid complaints that the levy would scare away tourists and hurt the poor. Officials have spent months pushing the tax plan in a media blitz that included speeches, brochures and TV commercials. But the public and many politicians -- including both pro-government and opposition political parties -- in this bastion of capitalism fiercely resisted the proposal for the goods-and-services tax, expected to be 5 percent. Finance Secretary Henry Tang (唐英年) told reporters yesterday that the government would stop promoting the proposal.
■ Macroeconomics
Seoul cuts growth forecast
South Korea yesterday cut its economic growth target for next year owing to sluggish private consumption and investment, as a steep rise in the won threatens to hurt exports. The Bank of Korea lowered the growth forecast for next year from 5 percent to 4.4 percent, expecting GDP to expand 4 percent in the first half of next year and 4.7 percent in the second half. The bank said Asia's fourth-largest economy, whose annual exports hit the US$300-billion mark yesterday, would enjoy solid growth in exports thanks to a steadily growing world economy.
■ Internet
Yahoo targets Filipinos
Yahoo yesterday unveiled a global project aimed at tapping into the vast market of Filipino overseas workers. The "Pinoy Connect" project features a Web site designed to meet the needs of an estimated 8 million Filipinos, or 10 percent of the population, working abroad as well as their families back home. In the first nine months of this year, overseas Filipinos remitted an estimated US$9.11 billion back home. This does not include cash sent home through informal, non-bank channels. The new site, yahoo.com.ph/pinoy, features entertainment, news, mobile services, chat groups, mobile communications and instant messaging services.
■ Economy
Beijing planners meet
Chinese economic planners met yesterday to set goals for next year amid efforts to keep the country's sizzling growth from racing out of control. Chinese authorities are faced with a tricky balancing act of sustaining economic growth to lift the nation's masses out of poverty while clamping down on real estate development, which appears to be creating an glut of apartment buildings, malls and golf courses. The Central Economic Work Conference, a body created by the Communist Party to monitor the economy, reflects the party's efforts to retain its power to manage an economy increasingly dependent on private enterprise after two decades of capitalist-style reforms.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
BULLY TACTICS: Beijing has continued its incursions into Taiwan’s airspace even as Xi Jinping talked about Taiwan being part of the Chinese family and nation China should stop its coercion of Taiwan and respect mainstream public opinion in Taiwan about sovereignty if its expression of goodwill is genuine, the Ministry of Foreign Affairs (MOFA) said yesterday. Ministry spokesman Jeff Liu (劉永健) made the comment in response to media queries about a meeting between former president Ma Ying-jeou (馬英九) and Chinese President Xi Jinping (習近平) the previous day. Ma voiced support for the so-called “1992 consensus,” while Xi said that although the two sides of the Taiwan Strait have “different systems,” this does not change the fact that they are “part of the same country,” and that “external
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source