South Korean probe ends
South Korea's antitrust watchdog said yesterday that it has decided to drop a probe into whether four global computer memory chip manufacturers violated the country's fair trade law, citing insufficient evidence. The Korea Fair Trade Commission said in a statement that it had investigated Samsung Electronics Co and Hynix Semiconductor Inc, as well as Micron Technology Inc and Infineon Technologies AG. The probe stemmed from a US Department of Justice investigation into price fixing in the US for DRAM chips from April 1999 until June 2002.
IPO to raise big money
China's Bank of Communi-cations (交通銀行) has drawn a record 1.45 trillion yuan (US$188 billion) in bookings for its initial public offering in Shanghai, the official China Securities Journal said yesterday. The Shanghai-based bank is likely to set the offering price at 7.9 yuan per share for the sale next month of 3.19 billion A-shares, the journal said. That would put the share price at the top end of the previously announced 7 yuan to 7.9 yuan range.
Nissan profits fall 11%
Japan's Nissan Motor Co said yesterday that its net profits slumped by 11.1 percent in the year to last month, the first drop in annual earnings under legendary chief executive and one-time savior Carlos Ghosn. Nissan reported net profit of ¥460.80 billion (US$3.98 billion), down from ¥518.05 billion in the previous fiscal year. The company predicted a rebound in profits in the current fiscal year to next March, forecasting net profit of ¥480 billion but revenue is expected to fall to ¥10.3 trillion.
HONG KONG SECURITY: The president blasted regulations requiring Taiwanese agents or political organizations to provide information on their Hong Kong-related activities President Tsai Ing-wen (蔡英文) yesterday warned of countermeasures should controversial Chinese national security legislation imposed on Hong Kong undermine or harm Taiwanese interests. Article 43 of the legislation empowers the Hong Kong Special Administrative Region to serve written notices to Taiwanese political organizations or individual agents to furnish information on their Hong Kong-related activities, including their personal particulars, finances, assets, expenditure and capital in the territory. Failure to comply or providing false or incomplete information can result in a fine of HK$100,000 (US$12,903) or imprisonment of six months or two years respectively. Tsai said that Taiwan would keep a close watch on how
FORCED LABOR: Customs officials have seized a 11.8 tonne shipment of products made from human hair on suspicion they were produced by people facing human rights abuses Federal authorities in New York City on Wednesday seized a shipment of weaves and other beauty accessories suspected to be made out of human hair taken from people locked inside a Chinese internment camp. US Customs and Border Protection (CPB) officials said that 11.8 tonnes of hair products worth an estimated US$800,000 were in the shipment. “The production of these goods constitutes a very serious human rights violation, and the detention order is intended to send a clear and direct message to all entities seeking to do business with the United States that illicit and inhumane practices will not be tolerated in
JUST QUESTIONS: Expelled reporter Ai Kezhu said that every member of Southeast Television had complied with the law and had not appeared on any talk shows Two Chinese reporters yesterday left Taiwan after the government revoked their accreditation and ordered them to leave amid a probe into allegations that several Chinese media outlets have set up studios and produced political talk shows in Taiwan. The two reporters — Ai Kezhu (艾珂竹) and Lu Qiang (盧薔) — worked for Fujian Province-based Southeast Television and arrived in Taiwan in December last year. The Mainland Affairs Council has launched an investigation after local media reported that Chinese broadcasters — including China Central Television, Southeast Television and FJTV — had set up studios in Taipei and produced political talk shows. Council Deputy Minister
PROBE LAUNCHED: An officer who served as a supervisor in the drill died in an apparent suicide after the accident, which was caused by unexpected waves Two marines who were on Friday injured in a military exercise in the waters off Kaohsiung passed away yesterday, Navy Command said. The marines — surnamed Tsai (蔡), 26, and a sergeant surnamed Chen (陳), 36 — were in a seven-member Marine Corps team that encountered rough seas during a simulated response to enemy forces landing on Taiwan. Their rubber craft overturned in waters off Taoziyuan (桃子園) beach in Zuoying District (左營), injuring four of the marines. They were rushed to hospital, where three of them — Tsai, Chen and a 34-year-old sergeant — were taken to an intensive care unit