■ Energy
Oil prices close mixed
Oil prices were mixed in volatile Asian trade yesterday after Iran freed 15 captured British sailors on Wednesday, easing fears a diplomatic row could escalate and disrupt crude supplies, dealers said. This news, however, was offset by disappointing energy inventory data from the US, the world's biggest energy consumer, they added. At 3pm, New York's main oil futures contract, light sweet crude for delivery next month, was down US$0.01 to US$64.37 a barrel from US$64.38 in late US trades. The weekly report by the US Department of Energy showed gasoline reserves fell by 5 million barrels to 205.2 million barrels last week, against a forecast drawdown of 300,000 barrels.
■ LCD TV
Matsushita sets up KL plant
Japan's Matsushita Industrial Co, which makes Panasonic brand products, has begun making liquid-crystal-display (LCD) TVs in Malaysia to meet growing worldwide demand, officials said yesterday. It will be the group's first facility in Asia to make LCD sets, officials said. Initial production is aimed at 30,000 units for the domestic market and 20,000 units for export to Singapore this year. The company would also supply parts for assembly plants in other countries.
■ Software
Microsoft told to share info
The European Commission will force Microsoft Corp to hand over what the US software giant claims is sensitive and valuable technical information about its Windows operating system for almost no compensation, the Financial Times reported on Wednesday, citing a confidential document. Microsoft is required to license the technical information to competing groups under the terms of the commission's antitrust ruling issued three years ago, the FT said. The commission last month accused Microsoft of demanding excessive royalties from licenses.
■ Gaming
Nintendo raises estimates
Nintendo Co said yesterday that group sales for the business year that ended in March would likely reach ¥966 billion (US$8.14 billion) thanks to the popularity of its Nintendo DS handheld game console. The Kyoto-based game maker, which earlier projected group sales of ¥900 billion, said in a statement that it also expected profit to exceed its forecast. The company also said it now expects a foreign exchange profit of about ¥20 billion, as opposed to its forecast of a loss of ¥10 billion.
■ Telecoms
Vodafone clarifies purchase
British telecom giant Vodafone Group Plc, the world's largest mobile phone company by sales, said yesterday it was buying only 52 percent of Indian mobile operator Hutchison Essar but would have an "economic interest" in 67 percent as it insisted that the US$11.1 billion deal meet Indian foreign investment rules. "We have been maintaining that we have effective 52 percent control," said Vodafone spokesman V.K. Cherian, adding that the company had options to purchase the remaining 15 percent. "We are absolutely confident that the deal will receive approval," Cherian said. His statement came as the law ministry was reported to have advised further scrutiny of the deal to see whether the shareholding structure meets Indian regulations allowing foreign direct investment of up to 74 percent in a domestic telecom firm.
TYPHOON: The storm’s path indicates a high possibility of Krathon making landfall in Pingtung County, depending on when the storm turns north, the CWA said Typhoon Krathon is strengthening and is more likely to make landfall in Taiwan, the Central Weather Administration (CWA) said in a forecast released yesterday afternoon. As of 2pm yesterday, the CWA’s updated sea warning for Krathon showed that the storm was about 430km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point. It was moving in west-northwest at 9kph, with maximum sustained winds of 119kph and gusts of up to 155kph, CWA data showed. Krathon is expected to move further west before turning north tomorrow, CWA forecaster Wu Wan-hua (伍婉華) said. The CWA’s latest forecast and other countries’ projections of the storm’s path indicate a higher
SLOW-MOVING STORM: The typhoon has started moving north, but at a very slow pace, adding uncertainty to the extent of its impact on the nation Work and classes have been canceled across the nation today because of Typhoon Krathon, with residents in the south advised to brace for winds that could reach force 17 on the Beaufort scale as the Central Weather Administration (CWA) forecast that the storm would make landfall there. Force 17 wind with speeds of 56.1 to 61.2 meters per second, the highest number on the Beaufort scale, rarely occur and could cause serious damage. Krathon could be the second typhoon to land in southwestern Taiwan, following typhoon Elsie in 1996, CWA records showed. As of 8pm yesterday, the typhoon’s center was 180km
TYPHOON DAY: Taitung, Pingtung, Tainan, Chiayi, Hualien and Kaohsiung canceled work and classes today. The storm is to start moving north this afternoon The outer rim of Typhoon Krathon made landfall in Taitung County and the Hengchun Peninsula (恆春半島) at about noon yesterday, the Central Weather Administration (CWA) said, adding that the eye of the storm was expected to hit land tomorrow. The CWA at 2:30pm yesterday issued a land alert for Krathon after issuing a sea alert on Sunday. It also expanded the scope of the sea alert to include waters north of Taiwan Strait, in addition to its south, from the Bashi Channel to the Pratas Islands (Dongsha Islands, 東沙群島). As of 6pm yesterday, the typhoon’s center was 160km south of
STILL DANGEROUS: The typhoon was expected to weaken, but it would still maintain its structure, with high winds and heavy rain, the weather agency said One person had died amid heavy winds and rain brought by Typhoon Krathon, while 70 were injured and two people were unaccounted for, the Central Emergency Operation Center said yesterday, while work and classes have been canceled nationwide today for the second day. The Hualien County Fire Department said that a man in his 70s had fallen to his death at about 11am on Tuesday while trimming a tree at his home in Shoufeng Township (壽豐). Meanwhile, the Yunlin County Fire Department received a report of a person falling into the sea at about 1pm on Tuesday, but had to suspend search-and-rescue
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