■ FOREX
Paulson backs greenback
US Secretary of the Treasury Henry Paulson expressed confidence on Monday in the dollar's prospects despite new highs notched up by the euro against the US currency. In an interview with the CNBC financial news network, Paulson also predicted that problems afflicting the lower end of the US mortgage market would not infect the broader economy. He said he felt "very strongly that a strong dollar's in our nation's interest and the dollar's value should be determined in a competitive marketplace based upon underlying economic fundamentals." Paulson said he felt that way "about all currencies and again ... I believe this country has very strong underlying economic fundamentals."
■ MOBILE PHONES
Samsung mulls fashion link
Samsung Electronics Co said yesterday it may cooperate with luxury name brands such as the Italian fashion house Armani in its mobile phone business. "We're reviewing the possibility of collaborating with premium brands for [our] mobile phone business," Samsung spokeswoman Lee Soo-jeong said. Armani is among the brands the company is considering, she said. "However, nothing has been decided," she said. Rival LG Electronics Inc earlier this year launched its high-end Prada phone, produced in partnership with the Italian fashion brand. The Prada features a no-button interface with the front covered by a touch-sensitive screen resembling the Apple iPhone.
■ AUTOMOBILES
Quake cuts production
Japan's auto production has been cut by an estimated 110,000 vehicles after a recent earthquake, the government said yesterday, as several manufacturers resumed output. The industry should not suffer any lasting impact from the shutdowns caused by lack of parts after last week's quake northwest of Tokyo, Economic and Fiscal Policy Minister Hiroko Ota said: "If [automakers] are able to catch up and make up for the delayed production, I do not expect to see a significant long-term effect."
■ AVIATION
Chinese buyers sought
China's first showroom selling aircraft to private customers has opened in Hangzhou, the Beijing Morning Post reported yesterday, in the latest sign of soaring incomes. The Tianducheng General Aviation Marketing and Service Center opened its doors on Monday to reveal a wide range of helicopters and small private and agricultural-use airplanes, the newspaper said. The number of private owners of aircraft is now "less than 100" nationwide, the newspaper said, but the aircraft dealer in Zhejiang Province plans to capitalize on expected growing private sales as personal incomes continue to skyrocket.
■ AVIATION
Budget carriers warned
Thailand's aviation authority has imposed new marketing rules for budget carriers after complaints that prices in their ads were misleading, an official said yesterday. The airlines must now submit their low-fare ads to the government for approval, the director-general of the aviation department said. "We want to make sure that price competition in the industry is fair," he said. He declined to name airlines that had been accused of misleading ads. Nok Airlines, owned by Thai Airways International, welcomed the new rules, but said passengers should also read the fine print more carefully.
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
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
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