■ US economy
No inflation worry seen
Chicago Federal Reserve President Michael Moskow said Monday he sees no "worrisome" inflation on the horizon that could prompt the US central bank to boost interest rates soon. Moskow reiterated the Fed's plan to be patient in raising US interest rates as long as inflation remains quiescent and hiring lags. "With inflation low, the Fed can be patient in removing its policy accommodation," he said in remarks prepared for a Chicago speech. "However, this stance cannot be maintained indefinitely." But there are few signs of pressure on labor and capital resources that would point to a "worrisome increase" in inflation, said Moskow. "While there is always the potential for imbalances in certain sectors, recent numbers confirm that inflation is still extremely low," he said.
■ Security
Viruses cause more damage
Viruses and other computer attacks have worsened in the past year and have become more costly for firms to deal, according to a survey released Monday. The survey of executives at 300 companies and government agencies worldwide with at least 500 computers "shows conclusively that despite increased spending, both the perception and the reality of the malicious code problem continues to worsen," said the security firm TruSecure, the survey organizer. The survey also found "disaster recovery costs" increased 23 percent over the past year to almost US$100,000 per organization per event. "The re-emergence of `outbreak events' and the success of mass mailers in early 2004 illustrates that organizations are not making enough progress in their defense against malicious code," said Larry Bridwell at TruSecure's ICSA Labs and author of the survey.
■ Operating systems
Linux popular in Brazil
Linux's open source operating system has made significant inroads in Brazil, with more than three quarters of companies surveyed using it to handle at least one application, according to a study released Monday. E-Consulting Corp said 78 percent of large and mid-sized companies surveyed were using Linux software on their servers to handle at least one application. "Brazil today has one of the world's biggest open source movements, so it's natural that more companies are experimenting with the platform," said Daniel Domeneghetti, director of E-Consulting Corp. The survey found that of the US$19 billion Brazilian companies expect to invest annually in information technology, 38.5 percent or US$7.3 billion was destined for work with Linux.
■ South Korea
Consumption taxes lowered
The South Korean government has lowered special consumption taxes on cars, air conditioners, projection televisions and other leisure products to stimulate consumption, officials said yesterday. The cut will run until the end of the year, with tax rates reduced by up to 30 percent, the finance and economy ministry said. Tax cuts for cars will be capped at 20 percent because auto sales account for the bulk of state excise tax revenues, it said. Cars with an engine capacity of more than 2,000cc will have their tax rates lowered from 10 percent to 8 percent. Taxes for air conditioners will be slashed from 16 percent to 11.2 percent.
The Central Weather Administration (CWA) yesterday said it is expected to issue a sea warning for Typhoon Fung-wong this afternoon and a land warning tomorrow. As of 1pm, the storm was about 1,070km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, and was moving west-northwest at 28 to 32kph, according to CWA data. The storm had a radius of 250km, with maximum sustained winds of 173kph and gusts reaching 209kph, the CWA added. The storm is forecast to pass near Luzon in the Philippines before entering the South China Sea and potentially turning northward toward Taiwan, the CWA said. CWA forecaster Chang Chun-yao (張峻堯) said
PREPARATION: Ferry lines and flights were canceled ahead of only the second storm to hit the nation in November, while many areas canceled classes and work Authorities yesterday evacuated more than 3,000 people ahead of approaching Tropical Storm Fung-wong, which is expected to make landfall between Kaohsiung and Pingtung County this evening. Fung-wong was yesterday morning downgraded from a typhoon to a tropical storm as it approached the nation’s southwest coast, the Central Weather Administration (CWA) said, as it issued a land alert for the storm. The alert applies to residents in Tainan, Kaohsiung, Pingtung and Taitung counties, and the Hengchun Peninsula (恆春). As of press time last night, Taichung, Tainan, Kaohsiung, and Yilan, Miaoli, Changhua, Yunlin, Pingtung and Penghu counties, as well as Chiayi city and county had
The Central Weather Administration (CWA) yesterday issued a sea alert for Typhoon Fung-wong (鳳凰) as it threatened vessels operating in waters off the Pratas Islands (Dongsha Islands, 東沙群島), the Bashi Channel and south of the Taiwan Strait. A land alert is expected to be announced some time between late last night and early this morning, the CWA said. As of press time last night, Taoyuan, as well as Yilan, Hualien and Penghu counties had declared today a typhoon day, canceling work and classes. Except for a few select districts in Taipei and New Taipei City, all other areas and city
VIOLATION OF NORMS: China’s CCTV broadcast claimed that Beijing could use Interpol to issue arrest warrants, which the MAC slammed as an affront to order The Mainland Affairs Council (MAC) yesterday condemned the Chinese Communist Party (CCP) for attempts to intimidate Taiwanese through “transnational repression.” The council issued the remarks after state broadcaster China Central Television (CCTV) yesterday during a news broadcast aired a video targeting Democratic Progressive Party (DPP) Legislator Puma Shen (沈伯洋), threatening him with “cross-border repression” and saying: “Stop now, or you will be next,” in what Taipei officials said was an attempt to intimidate not only Shen, but also the broader Taiwanese public. The MAC in a statement condemned the threat, accusing Beijing of trying to instill fear and self-censorship among Taiwanese and
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