■ INTERNET
PRC okays Google license
Google Inc says it has received preliminary approval from Chinese regulators for its own Internet license, possibly boosting the search engine's campaign to expand its market share in China. Google announced the decision on Tuesday without saying how it might affect its operations in China or when it might receive final approval. Google already operates in China using the Internet license of its local partner, Ganji.com. Google is China's second-most-popular search engine, with 19 percent of search engine revenues. Industry leader Baidu.com Inc has 57 percent of revenues.
■ ELECTRONICS
Matsushita aims high
Japan's Matsushita Electric Industrial Co expects to double its production capacity for plasma display panels when a new plant begins production in western Japan in May 2009, a company spokesman said. The Osaka-based maker of Panasonic-branded electronics plans to manufacture 300,000 42-inch plasma display panels a month at a new plant to be built in the western Japan city of Amagasaki, spokesman Akira Kadota said. Combined with a planned output increase at another Amagasaki plant that began operating this month, Matsushita will be able to turn out 1.26 million panels a month by May 2009, up from the current 640,000 panels, Kadota said. The company currently has four plasma display panel plants in Japan and another one in Shanghai, he said.
■ BANKING
German bank mulls buyout
Deutsche Bank AG, Germany's biggest bank, is planning on an acquisition in central Europe to complement its global transaction business, the group's global banking business head said yesterday. "We are looking geographically within Europe," Michael Cohrs said on the sidelines of a conference in Frankfurt, Germany. "I don't want to give details because the deal that we are working on will be announced relatively quickly." Cohrs said the deal would be relatively small, less than US$670 million.
■ ENERGY
PetroChina to sell A shares
PetroChina Co (中國石油天然氣), a listed unit of state-owned China National Petroleum Corp, said yesterday that it is planning to sell up to 4 billion yuan-denominated A shares in a public offering in Shanghai in order to raise money for further exploration and development, construction of a refinery and overseas acquisitions. PetroChina, which is listed in Hong Kong and has American Depositary Receipts that trade in New York, did not disclose a target price for its share sale in Shanghai. Last month, PetroChina announced the discovery of proved crude oil and natural gas reserves amounting to 3.72 billion barrels of oil equivalent, in China's Bohai Bay.
■ TECHNOLOGY
S Korea helps small firms
South Korea's government offered yesterday to set up a US$1.08 billion fund to help small and medium-sized firms with high technology. Finance Minister Kwon O-kyu did not say when the fund would be set up but promised to create a better business environment for small firms. Kwon said the government would take ease restrictions and financial burdens on small firms. Business groups have urged the government to improve market conditions.
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