■ Internet
Blogger's supporters protest
Supporters of a Singaporean blogger gathered yesterday at a busy subway station for a silent protest at the suspension of his weekly newspaper column after the government criticized his latest satirical piece about high living costs. At least 30 supporters turned up at City Hall station at 2pm dressed in brown attire in support of the blogger, who goes by the moniker Mr. Brown. The 36-year-old blogger, whose real name is Lee Kin Mun, is aware of the 30-minute silent protest but friends say he is not the organizer. The Today newspaper's publisher MediaCorp confirmed on Thursday that it had suspended Mr Brown's weekly column starting on Friday, but gave no reason.
■ Energy
Iraq steps up oil production
Iraq has increased production of crude oil from its fields in the south to 2 million barrels per day, an oil source said yesterday. The source said in press statements that the hike in production came as a result of reopening some fields, carrying out relevant projects there and upgrading production facilities in Basra and Amarah. Iraq plans to step up its daily production to 2.5 million barrels by the end of this year, the source added. Iraq is currently witnessing a shortage in car fuel resulting in lines at gas stations across the country.
■ Finance
Canadian bank eyes Rashid
Canada's Bank of Nova Scotia will form an alliance with Malaysia's biggest state pension fund to acquire a one-third stake in financial group Rashid Hussain, a report said yesterday. The Edge business weekly said Bank of Nova Scotia Bhd and the Employees Provident Fund (EPF) would take over Utama Banking Group's 32.8 percent stake as well as loan stocks in Rashid Hussain. The EPF currently owns 31 percent of Rashid Hussain. Rashid Hussain controls RHB Capital Bhd which in turn owns RHB Bank Bhd, Malaysia's fourth largest lender. The Edge said EPF could pay close to 1 billion ringgit (US$274,000) for the shares and loan stocks.
■ Finance
Rate hike up to BOJ: official
The Bank of Japan will need to make an independent decision on when to end its zero-interest-rate policy, Economic and Fiscal Policy Minister Kaoru Yosano said. "Eventually there needs to be a departure from this extraordinary zero-rate policy," Yosano said on NHK Television's Sunday Debate program yesterday. "The Bank of Japan will need to make a decision by utilizing its knowledge and experience while also being aware of its responsibility" in conducting policy. Nine of 15 economists surveyed by Bloomberg News said they expect the bank to raise borrowing costs for the first time in almost six years when they conclude a two-day meeting on Friday.
■ Aviation
Malaysia Air to cut fares
Loss-making Malaysia Airlines said yesterday the government has authorized it to offer discounted fares on domestic routes so it can compete better with a low-cost rival. "The government has removed the floor price imposed on Malaysia Airlines under the new domestic aviation policy," the state-owned flag carrier said in a statement. "This means in the domestic sector, the national airline will be able to provide appropriate discounts to its passengers when it makes commercial sense to do so." Analysts said the decision would spark a price war on domestic routes between Malaysia Airlines and carrier AirAsia.
A subsidiary of a Hong Kong-based company that has lost control of two critical ports on the Panama Canal said it is seeking US$2 billion of compensation in damages from Panama over its “illegal” takeover of the ports. Panama Ports Co, a unit of Hong Kong’s CK Hutchison Holdings (長江和記實業), on Friday said in a statement that it is demanding the sum under international arbitration proceedings that it had already started. The Panamanian government last week seized control of the Balboa and Cristobal ports on each end of the Panama Canal, after the country’s Supreme Court declared earlier that a concession allowing
DETERRENCE: With 1,000 indigenous Hsiung Feng II and III missiles and 400 Harpoon missiles, the nation would boast the highest anti-ship missile density in the world With Taiwan wrapping up mass production of Hsiung Feng II and III missiles by December and an influx of Harpoon missiles from the US, Taiwan would have the highest density of anti-ship missiles in the world, a source said yesterday. Taiwan is to wrap up mass production of the indigenous anti-ship missiles by the end of year, as the Chungshan Institute of Science and Technology has been meeting production targets ahead of schedule, a defense official with knowledge of the matter said. Combined with the 400 Harpoon anti-ship missiles Taiwan expects to receive from the US by 2028, the nation would have
POSSIBILITIES EMERGE: With Taiwan’s victory and Japan’s narrow win over Australia, Taiwan now have a chance to advance if South Korea also beat the Aussies Taiwan has high hopes that the national baseball team would advance to the World Baseball Classic (WBC) quarter-finals after clinching a crucial 5-4 victory over South Korea in a nail-biting extra-inning game at the Tokyo Dome yesterday. Boosted by three home runs — two solo shots by Yu Chang (張育成) and Cheng Tsung-che (鄭宗哲) and a two-run homer by Stuart Fairchild — the triumph gave Taiwan a much-needed second victory in the five-team Pool C, where only the top two finishers would advance to the knockout stage in Miami, Florida. Entering extra innings with the game tied at four apiece, Taiwan scored
MISSION OF PEACE: The foreign minister urged Beijing to respect Taiwan’s existence as an independent nation, and work together to ensure peace and stability in the region Minister of Foreign Affairs Lin Chia-lung (林佳龍) yesterday rejected Chinese Minister of Foreign Affairs Wang Yi’s (王毅) comments about Taiwan, criticizing China as a “troublemaker” in the international community and a disruptor of cross-strait peace. Speaking at a news conference on the sidelines of the Chinese National People’s Congress, Wang said that Taiwan has always been a territory of China and that it would be impossible for it to become its own country. The “return” of Taiwan to China was the natural outcome of the Chinese people’s resistance against Japan in World War II, and that any pursuit of independence was “doomed
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