■ COMMODITIES
Thailand drops cartel idea
Thailand’s foreign minister says the country is dropping plans to create a Southeast Asian rice cartel. The proposal was first floated last week by Thai Prime Minister Samak Sundaravej to give rice producers greater control over rice prices, which have tripled since December. But the idea was heavily criticized by the Philippines, a major importer, as well as some Thai rice exporters. “We are not talking about setting up a rice cartel,” Foreign Minister Noppadon Pattama said yesterday after a meeting with ambassadors from rice exporting countries. “If Thailand sets up an rice cartel and fixes a price, that will make matters worse and worsen food security.”
■ ELECTRONICS
Tokyo proposes iPod fee
The Japanese government will propose this week a plan to charge copyright royalties on sales of iPods and other portable digital music players, as well as on digital hard disk recorders, a major daily newspaper reported yesterday. The Agency of Cultural Affairs has not yet decided the amount of the fee, but it would likely be around ¥100 (US$0.95) per device for an annual total of about ¥1 billion, the Asahi Shimbun reported. The proceeds would go to recording companies, songwriters and artists. Older devices, such as minidisk and DVD recorders, are already subject to a copyright fee.
■ ELECTRONICS
iPhone network expands
British mobile phone giant Vodafone announced yesterday that it will distribute Apple’s iPhone in 10 new countries including Australia, India and South Africa. Vodafone said in a statement that under its accord with Apple, it will also have the right to sell iPhones in the Czech Republic, Egypt, Greece, Italy, New Zealand, Portugal and Turkey. The phones that it sells will be intended to work on the Vodafone network. Launched one year ago, officially the iPhone is only available in the US, UK, France, Germany, Ireland and Austria.
■ AUTOMOBILES
Hyundai forges deal
US software giant Microsoft and South Korea’s top automaker Hyundai Motor have forged a deal to develop a new in-vehicle music and entertainment system, officials said yesterday. “These new systems will redefine consumer experiences in the car,” Martin Thall, general manager of Microsoft’s automotive business unit, said in a statement released by Hyundai. “We’re now aligned to develop the next generation of in-car infotainment systems,” he said. Hyundai said the system would be controlled by the driver’s voice and linked with other handheld digital devices such as mobile phones and MP3 music players.
■ FINANCE
Foreclosures on the rise
Some 1.5 million US homes entered into the foreclosure process last year, up 53 percent from 2006, Federal Reserve Chairman Ben Bernanke said. This rising tide of late mortgage payments and home foreclosures poses considerable dangers to the US economy, he said, urging Congress to take additional steps to alleviate the problems. “High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets and the broader economy,” Bernanke said in a dinner speech at the Columbia Business School in New York. “Therefore, doing what we can to avoid preventable foreclosures is not just in the interest of lenders and borrowers. It’s in everybody’s interest,” he said. The rate of new foreclosures looks likely to be even higher this year, he said.
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