■ TRADE
EU takes dispute to WTO
The EU has requested WTO talks to resolve a dispute with Bangkok over Thai customs measures, the EU said on Sunday. The EU claims Thai authorities frequently reject the declared price of imported EU products and impose an arbitrary price. An EU statement said the practice violates WTO rules and was particularly damaging for European wine and spirits exports. It said the EU took the case to the WTO on Friday. "These measures are arbitrary and damaging for EU companies seeking to do business in Thailand," EU Trade Commissioner Peter Mandelson said. "We believe they are not compatible with WTO rules." The EU said it was turning to the WTO after failing to resolve the issue in bilateral talks with Thailand.
■ ENTERTAINMENT
Sony Ericsson inks deals
Sony Ericsson Mobile Communications Ltd, the world's fourth-largest maker of mobile phones, signed accords with 10 major record labels to widen its content offer. The music labels include Sony BMG, Warner Music Group, EMI, IODA, Bonnier Amigo and VidZone, the London-based company said on Sunday. Artists represented by the labels include Norah Jones and Bruce Springsteen. The move expands the company's PlayNow catalog and will add more than 5 million new tracks to its catalog, the company said. PlayNow will become available in Sweden, Denmark, Norway and Finland in May, and more European markets by the end of the second quarter. The company will roll out the catalog in the Americas and Asia in the third and fourth quarters.
■ ACQUISITIONS
Nokia acquires Trolltech
Nokia Oyj, the world's biggest maker of mobile phones, agreed to buy Norway's Trolltech ASA to accelerate its software strategy and develop Internet services. Nokia offered 16 kroner (US$2.91) per share, the Finnish company said yesterday in a statement.
■ ACQUISITIONS
Mozilo gives up US$38m
Countrywide Financial Corp CEO Angelo Mozilo will voluntarily give up US$37.5 million in severance and consulting pay in connection with the proposed takeover by Bank of America Corp. Mozilo's stock and employee equity awards will be treated the same as that of other shareholders and employees if the US$4.2 billion sale goes through, Countrywide said in a statement released at midnight on Sunday. "My primary focus today, as it has been for the past 40 years, is to do what is in the best interests of Countrywide's employees, customers and shareholders," Mozilo said in the statement. Under the terms of the deal, Mozilo would be entitled to US$36.4 million in cash severance pay and US$400,000 per year in consulting fees, as well as the use of a private airplane, Countrywide said. Mozilo held 0.24 percent of Countrywide's shares valued around US$8 million as of Oct. 12 last year, Bloomberg data shows.
■ UAE
Business courts to be set up
The Abu Dhabi government plans to set up special courts to deal with economic disputes as part of its efforts to attract foreign investment, the official WAM news agency said on Sunday. The courts will handle financial, investment and industrial cases. "The powerful economic development witnessed in the emirate makes an effective judicial system a must," judiciary department undersecretary Sultan al Baadi said.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
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
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique