■ Forex
Exporters want won action
South Korean exporters called yesterday for swift government action to curb the rising won. Five business groups, led by the Korea International Trade Association (KITA), warned that the won's strength against the greenback was hurting exports. "The government must take quick steps to prop up our global competitiveness. The pace of the won's appreciation is too steep," they said in a joint statement. The won rose 2.3 percent against the US dollar last year but has jumped more than 8 percent so far this year. "The government is ready to discuss an increase in the foreign exchange stabilization fund," Budget Minister Byeon Yang-kyoon told reporters.
■ Computers
HP unveils new notebooks
Hewlett-Packard Co unveiled laptops with spiffier designs as well as more powerful processors on Tuesday. Six of seven new HP notebooks will run on dual-core chips from either Intel Corp or Advanced Micro Devices Inc, and a business-targeted model allows users to swap the cellular broadband module if they switch carriers. The offerings include two consumer lines that come in a glossy, piano-black finish with inlaid patterns, a departure from plain black exteriors. Some models have a built-in Webcam or more powerful graphics cards. The new computers will be available later this month, HP said.
■ Health
DuPont sued over Teflon
A lawsuit representing millions of owners of Teflon coated cookware was filed in US District Court in Des Moines, Iowa, seeking to combine complaints from 16 US states into one master case. The suit, filed on Monday, claims that DuPont Co failed to disclose possible health risks from using the nonstick cookware. It also claims DuPont continued to tell the government and consumers for years that Teflon was safe even though its own studies showed the material could become toxic when heated at temperatures easily reached when a typical stovetop is set on high. It asks the court to require DuPont to create a fund for independent research into whether Teflon is harmful; to replace all existing Teflon cookware products or pay owners compensation; and to stop making, selling and distributing Teflon coated products.
■ Beverages
Coke Japan recalls bottles
The Japanese unit of US beverage giant Coca-Cola Co will expand a recall to withdraw 2.37 million bottles of soft drinks laced with iron powder, company officials said yesterday. Earlier this month the subsidiary had announced a withdrawal of 570,000 bottles of six soft drinks manufactured between March 26 and March 30 at a factory in central Japan. It said it will expand the recall to 27 beverages and include drinks manufactured before March 26. The company said that the bottles may contain a small amount of iron powder which would not be harmful if injested.
■ Automobiles
Toyota's profits rise 17.2%
Toyota Motor Corp yesterday reported a 17.2 percent jump in annual net profits to a record ¥1.37 trillion (US$12.35 billion) as it won more market share from struggling US rivals. Toyota said revenue rose 13.4 percent in the year to March to ¥21.04 trillion, also an all-time high. Operating profit increased by 12.3 percent to ¥1.88 trillion. In the current year, however, Toyota forecast a drop in net profits to ¥1.31 trillion.
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