ELECTRONICS
HTC forms VR alliance
HTC Corp (宏達電) yesterday announced at the Mobile World Congress Shanghai that it has formed a virtual reality (VR) alliance with 28 global investment firms, aiming to provide US$10 billion to VR content developers around the world. The Virtual Reality Venture Capital Alliance is targeted to help foster long-term growth in the VR industry through sharing and investing in both technology and content creators, HTC said. Among the investment firms are Sequoia Capital (紅杉資本) and Matrix Partners (經緯中國). Last week, HTC chairwoman Cher Wang (王雪紅) said the company in April launched a US$100 million accelerator program for VR start-ups in Taipei, Beijing and San Francisco.
IC DESIGNERS
MediaTek joins 5G center
Handset chip designer MediaTek Inc (聯發科) yesterday said it has joined a 5G innovation center created by China Mobile Ltd (中國移動) in a bid to secure a better position in China’s 5G market. The two companies will collaborate in facilitating the standardization of 5G technology and developing an ecosystem, products and application platforms together, MediaTek said in a statement. The Taiwanese firm said it aims to become one of the world’s first 5G chip suppliers in 2020.
SECURITY
Domestic sector eyes growth
Only 0.7 percent of homes in Taiwan are equipped with modern security systems, compared with 3 to 4 percent in Japan and 2 to 3 percent in South Korea, implying ample room for the domestic security service sector’s growth, Macquarie Capital Securities Ltd’s Taiwan branch said in a report released yesterday. The rising penetration rate in the residential sector, fueled by an aging population and growing demand in the smart home segment, will drive long-term growth for the sector, the brokerage said. As brand reputation and service quality are most critical to gain market share in the residential market, Taiwan Secom Co (中興保全) — the largest player in Taiwan with more than 50 percent market share — should be among the best performers in the sector, Macquarie said.
ECONOMIC AFFAIRS
Vice minister appointed
The Ministry of Economic Affairs yesterday appointed Intellectual Property Office Director-General Wang Mei-hua (王美花) to be its vice minister, citing her expertise in law and skills in communication and leadership. The ministry said Wang will supervise affairs of the Bureau of Foreign Trade, the Intellectual Property Office and the Department of Commerce after she takes the position next month. One of the priorities awaiting Wang would be supervising the drafting of an amendment to the Company Act (公司法) in an effort to improve Taiwan’s environment for start-ups, said a ministry official who is familiar with the matter.
INTERNET
Chinese censor replaced
China is replacing its top Internet regulator and censor, Lu Wei (魯煒), who had become the face of the government’s increasingly complicated dealings with foreign technology companies. Xinhua news agency yesterday reported that Lu would be replaced by his deputy, Xu Lin (徐麟), in implementing Beijing’s policies concerning the Internet, including overseeing social media and negotiating with technology firms that want to do business in China. The outspoken and gregarious Lu spent years defending China’s censorship policies and restrictions on foreign social media platforms as a matter of national security.
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
As they zigzagged from one machine to another in the searing African sun, the workers were covered in black soot. However, the charcoal they were making is known as “green,” and backers hope it can save impoverished Chad from rampant deforestation. Chad, a vast, landlocked country of 19 million people perched at the crossroads of north and central Africa, is steadily turning to desert. It has lost more than 90 percent of its forest cover since the 1970s, hit by climate change and overexploitation of trees for household uses such as cooking, officials say. “Green charcoal” aims to protect what
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