■ FINANCE
Mizuho linked with Merrill
Mizuho Corporate Bank is in final negotiations to invest ?140 billion (US$1.3 billion) in Merrill Lynch & Co, a news report said yesterday. The Japanese bank is likely to purchase shares representing a stake of several percent by the end of the month at the request of the US firm, according to a report in the Nikkei business daily. Mizuho spokesman Hiroaki Kanno said he was aware of the Nikkei report but that he "absolutely could not comment." He wouldn't say whether Mizuho and Merrill were in negotiations.
■ INTERNET
Facebook won't go public
The hot Internet social networking company Facebook probably won't try to go public this year, chief executive Mark Zuckerberg said in an interview. "I think what I can announce is that it's highly unlikely that we will go public in 2008," Zuckerberg told CBS news program 60 Minutes in an interview aired on Sunday. Zuckerberg said the company could make an initial public offering later. "When going public makes sense to do, we'll do that. Maybe that's two years out. Maybe it's three years out," he said. Microsoft Corp paid US$240 million in October for a 1.6 percent stake in Facebook, valuing the startup at US$15 billion.
■ AVIATION
Airline planning IPO
The Vietnamese government said yesterday that it has allowed Vietnam Airlines to hire an international consultant to advise on its initial public offering (IPO), which could see the national carrier sell up to 20 percent of its shares to foreign investors. The IPO will boost the airline's capital base while allowing the state to retain control with a stake of 70 percent to 80 percent, Vietnamese Deputy Prime Minister Nguyen Sinh Hung said in a statement on the government's Web site. The airline will sell between a 10 percent and 20 percent stake to strategic investors, he said, giving no specific date for the share sale. Vietnam Airlines' shares will be listed on the country's stock market later this year, the official said.
■ TECHNOLOGY
Panasonic battery best
Japan's Panasonic has created the world's longest-lasting alkaline battery, according to Guinness World Records. Panasonic promises its new Evolta battery cell -- whose name is derived from "evolution" and "voltage" -- will keep gadgets running 20 percent longer than offerings from rivals Duracell and Energizer, as well as its own upscale Oxyride batteries. Guinness certified Evolta in a Tokyo ceremony yesterday as "the longest lasting AA alkaline battery cell," based on testing under guidelines set by the industry's International Electrotechnical Commission.
■ FINANCE
Jianyin may buy out partner
Morgan Stanley's Chinese partner is considering buying the US banking giant's entire stake in their local joint venture, state media reported yesterday. Jianyin Investment Ltd, indirectly owned by sovereign wealth fund China Investment Corp, may acquire the 34.3 percent stake in China International Capital Corp (CICC) from Morgan Stanley, the 21st Century Business Herald said. Jianyin Investment is already the largest shareholder of the joint venture, holding a 43.35-percent stake.
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