■Computers
Advanced Micro to cut jobs
Advanced Micro Devices, the second-largest maker of computer processors after Intel, announced on Thursday that it would cut about 2,000 jobs, or 15 percent of its work force, by the middle of next year. Half of the affected employees were notified on Thursday, the company said. It had 13,187 employees as of the end of September. Advanced Micro has a broader plan to reduce expenses by US$350 million in 2003. "While painful and unfortunate, today's action will help to position AMD so that we can take full advantage of the eventual market recovery," said Hector Ruiz, the company's chief executive. Advanced Micro's stock has lost 60 percent of its value this year as a demand for consumer electronics and communications equipment has plummeted.
■ Regulators
Chertoff says no to SEC
US Assistant Attorney General Michael Chertoff, approached by the White House to head the Securities and Exchange Commission, said he's "happy" to remain as head of the Justice Department's criminal division. President George W. Bush planned to offer the SEC job to Chertoff if he said he would take the position, people familiar with the situation said. Chertoff, 48, has played a leading role in the administration's crackdown on corporate crime, helping direct investigations into alleged fraud at Enron Corp and WorldCom Inc. "Michael Chertoff is happy in the job he currently holds," said Justice Department spokesman Bryan Sierra. "He looks forward to helping the president and the attorney general continue fighting the war against terrorism." Harvey Pitt's resignation left the SEC leaderless just as lawmakers demanded tougher oversight of the accounting profession and securities industry to restore investor confidence.
■ Employment
Bush to open up federal jobs
US President George W. Bush plans to subject as many as 850,000 federal jobs to competition from the private sector, administration officials said Thursday, a sweeping reform long sought by Republicans and stiffly opposed by labor unions. Nearly half of the government's civilian work force could be affected by the plan that was to be published in the Federal Register yesterday. After a 30-day public review period, Bush can impose the new rules without congressional approval. "This is inherent to getting the taxpayers the best deal for their dollars and the best service from the government," said Trent Duffy, spokesman for the Office of Management and Budget. Bush and his fellow Republicans have long favored opening public sector jobs to competition from outside government.
■ Trade
Cambodia preparing for WTO
Cambodia is on course to complete talks on its accession to the WTO by September next year, a WTO official said on Thursday. A WTO working party, which has been negotiating terms for Cambodian accession since 1994, met on Thursday and said a final report should be ready for late March or early April next year. "Cambodia and WTO members in the working party said they aim to complete the membership deal by the fifth WTO ministerial conference," the WTO official said. The conference is scheduled for Sept. 10-14 in Cancun, Mexico. Sok Siphana, Cambodian secretary of state for commerce, said he hoped remaining issues could be resolved at talks in March or April.
Agencies
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
RSS