■ ENERGY
Macquarie raises Alinta bid
Australia's Macquarie Bank yesterday fired a new salvo in its bidding war with rival investment bank Babcock and Brown for Alinta Ltd, confirming it has lodged a fresh A$7.6 billion (US$6.2 billion) offer for the energy company. Macquarie said its new bid, which matches the worth of Babcock and Brown's offer for Alinta, offers three options for shareholders in the Perth-based company, including an all-cash option, an all-share option or a combination of both. "Alinta shareholders will have absolute choice as to selection of which option they prefer," Macquarie said in a statement.
■ MARKETS
Hong Kong hits record high
Hong Kong share prices closed up 0.27 percent for another record close yesterday, led by gains in China-related firms, although share prices pulled back after breaking the 21,000 points level, dealers said. The market came off the day's highs as property shares saw some profit-taking in late trade after an early advance driven by expectations of strong bids at a government land auction today. The benchmark Hang Seng Index ended up at a new closing high of 20,896.64.
■ INTERNET
Thai junta to sue YouTube
Thailand's army-backed government plans to sue Internet video-sharing site YouTube over clips it deemed insulting to King Bhumibol Adulyadej, an official said yesterday. "We are considering taking legal action against the Web site," said Vissanu Meeyo, a government spokesman. Thailand plans to sue YouTube, owned by Google, over charges of lese majeste -- insulting the monarchy, a serious crime that carries up to 15 years in prison, the spokesman said. The government has continued to block YouTube since the first clip showing the king next to a photograph of feet, considered deeply offensive, appeared last month.
■ AIRLINES
New Qantas bid mulled
Macquarie Bank Ltd and TPG Inc said they may resubmit an A$11.1 billion (US$9.1 billion) bid for Qantas Airways Ltd to keep the world's biggest airline takeover alive. The bidders might again offer A$5.45 a share in cash, Sydney-based Macquarie Bank said in a statement yesterday. The original bid lapsed after they failed to get the required 50 percent of acceptances until several hours after the deadline passed on Friday. Shares in Qantas, Australia's biggest airline, were suspended from trading today after closing at A$5.38 on Friday.
■ COMPUTERS
Dell in Suse Linux tie-up
Dell Inc has agreed to work with Microsoft Corp and Novell Inc under an alliance the rival software makers formed last year to make it easier for the Windows operating system and the increasingly popular Linux system to work together, the companies said on Sunday. Under the partnership announced in November, Microsoft said it would offer corporate customers a chance to license its Windows operating system as part of a package that includes maintenance and support for Novell's Suse Linux platform. On Sunday, Microsoft and Novell said Dell has agreed to buy Suse Linux Enterprise Server certificates from Microsoft and that the computer maker will set up a services and marketing program aimed at getting users of open-source platforms to switch to the new Suse Linux offering.
MILESTONE: The foreign minister called the signing ‘a major step forward in US-Taiwan relations,’ while the Presidential Office said it was a symbol of the nations’ shared values US President Donald Trump on Tuesday signed into law the Taiwan Assurance Implementation Act, which requires the US Department of State to regularly review and update guidelines governing official US interactions with Taiwan. The new law is an amendment to the Taiwan Assurance Act of 2020 focused on reviewing guidelines on US interactions with Taiwan. Previously, the state department was required to conduct a one-time review of its guidance governing relations with Taiwan, but under the new bill, the agency must conduct a review “not less than every five years.” It must then submit an updated report based on its findings “not later
CROSS-STRAIT COLLABORATION: The new KMT chairwoman expressed interest in meeting the Chinese president from the start, but she’ll have to pay to get in Beijing allegedly agreed to let Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) meet with Chinese President Xi Jinping (習近平) around the Lunar New Year holiday next year on three conditions, including that the KMT block Taiwan’s arms purchases, a source said yesterday. Cheng has expressed interest in meeting Xi since she won the KMT’s chairmanship election in October. A source, speaking on condition of anonymity, said a consensus on a meeting was allegedly reached after two KMT vice chairmen visited China’s Taiwan Affairs Office Director Song Tao (宋濤) in China last month. Beijing allegedly gave the KMT three conditions it had to
STAYING ALERT: China this week deployed its largest maritime show of force to date in the region, prompting concern in Taipei and Tokyo, which Beijing has brushed off Deterring conflict over Taiwan is a priority, the White House said in its National Security Strategy published yesterday, which also called on Japan and South Korea to increase their defense spending to help protect the first island chain. Taiwan is strategically positioned between Northeast and Southeast Asia, and provides direct access to the second island chain, with one-third of global shipping passing through the South China Sea, the report said. Given the implications for the US economy, along with Taiwan’s dominance in semiconductors, “deterring a conflict over Taiwan, ideally by preserving military overmatch, is a priority,” it said. However, the strategy also reiterated
‘BALANCE OF POWER’: Hegseth said that the US did not want to ‘strangle’ China, but to ensure that none of Washington’s allies would be vulnerable to military aggression Washington has no intention of changing the “status quo” in the Taiwan Strait, US Secretary of Defense Pete Hegseth said on Saturday, adding that one of the US military’s main priorities is to deter China “through strength, not through confrontation.” Speaking at the annual Reagan National Defense Forum in Simi Valley, California, Hegseth outlined the US Department of Defense’s priorities under US President Donald Trump. “First, defending the US homeland and our hemisphere. Second, deterring China through strength, not confrontation. Third, increased burden sharing for us, allies and partners. And fourth, supercharging the US defense industrial base,” he said. US-China relations under
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