■ Energy
Oil prices close mixed
Oil prices were mixed in volatile Asian trade yesterday after Iran freed 15 captured British sailors on Wednesday, easing fears a diplomatic row could escalate and disrupt crude supplies, dealers said. This news, however, was offset by disappointing energy inventory data from the US, the world's biggest energy consumer, they added. At 3pm, New York's main oil futures contract, light sweet crude for delivery next month, was down US$0.01 to US$64.37 a barrel from US$64.38 in late US trades. The weekly report by the US Department of Energy showed gasoline reserves fell by 5 million barrels to 205.2 million barrels last week, against a forecast drawdown of 300,000 barrels.
■ LCD TV
Matsushita sets up KL plant
Japan's Matsushita Industrial Co, which makes Panasonic brand products, has begun making liquid-crystal-display (LCD) TVs in Malaysia to meet growing worldwide demand, officials said yesterday. It will be the group's first facility in Asia to make LCD sets, officials said. Initial production is aimed at 30,000 units for the domestic market and 20,000 units for export to Singapore this year. The company would also supply parts for assembly plants in other countries.
■ Software
Microsoft told to share info
The European Commission will force Microsoft Corp to hand over what the US software giant claims is sensitive and valuable technical information about its Windows operating system for almost no compensation, the Financial Times reported on Wednesday, citing a confidential document. Microsoft is required to license the technical information to competing groups under the terms of the commission's antitrust ruling issued three years ago, the FT said. The commission last month accused Microsoft of demanding excessive royalties from licenses.
■ Gaming
Nintendo raises estimates
Nintendo Co said yesterday that group sales for the business year that ended in March would likely reach ¥966 billion (US$8.14 billion) thanks to the popularity of its Nintendo DS handheld game console. The Kyoto-based game maker, which earlier projected group sales of ¥900 billion, said in a statement that it also expected profit to exceed its forecast. The company also said it now expects a foreign exchange profit of about ¥20 billion, as opposed to its forecast of a loss of ¥10 billion.
■ Telecoms
Vodafone clarifies purchase
British telecom giant Vodafone Group Plc, the world's largest mobile phone company by sales, said yesterday it was buying only 52 percent of Indian mobile operator Hutchison Essar but would have an "economic interest" in 67 percent as it insisted that the US$11.1 billion deal meet Indian foreign investment rules. "We have been maintaining that we have effective 52 percent control," said Vodafone spokesman V.K. Cherian, adding that the company had options to purchase the remaining 15 percent. "We are absolutely confident that the deal will receive approval," Cherian said. His statement came as the law ministry was reported to have advised further scrutiny of the deal to see whether the shareholding structure meets Indian regulations allowing foreign direct investment of up to 74 percent in a domestic telecom firm.
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