■ CURRENCIES
Euro continues to climb
The euro continued its climb against the US dollar yesterday, heading further into record territory and peaking at US$1.3784. The euro surged upward against the dollar on Tuesday on concerns about the US economy that were fueled by discouraging growth forecasts from key retailers and homebuilders. It broke through the US$1.37 mark for the first time since it started trading in 1999. Overnight, the 13-nation currency went as high as US$1.3784, before settling back to US$1.3754 by early morning in Europe. That compared with the US$1.3729 it bought in New York late on Tuesday.
■ TRANSPORT
Guatemala to lose trains
The US company that runs Guatemala's only operating railroad said on Tuesday it would stop train services because government corruption had made it too difficult to operate. Railroad Development Corp (RDC), which won a concession in 1997 to revive Guatemala's abandoned 800km railroad, said the government diverted funds meant to build infrastructure and let squatters and private companies move onto land around the tracks. RDC said it planned to end the service in October. Last year, Guatemalan President Oscar Berger decreed that the privatization of the nation's locomotives, railroad cars and other rolling stock had been against the state's interest.
■ ENTERTAINMENT
Microsoft inks Disney deal
Microsoft Corp said it struck a deal to make 35 Disney movies, such as the animated hit Aladdin and the action title Armageddon, available for download on its online video game service. The high-definition movies will be available to subscribers of Microsoft's Xbox Live in the US, said Peter Moore, a corporate vice president in Microsoft's entertainment and devices division. The agreement with Disney-ABC Domestic Television will also allow Xbox 360 owners to rent films on demand as they become available from Walt Disney Pictures, Touchstone Pictures, Miramax Films and Hollywood Pictures.
■ OUTSOURCING
Infosys profit growth slows
Indian outsourcing firm Infosys Technologies Ltd said yesterday its profit growth slowed in the quarter ending last month because of a stronger rupee and higher wages. The Bangalore-based company said its quarterly net profit rose 34.6 percent to 10.7 billion rupees (US$263 million). But that was down from the 70.4 percent earnings growth reported in the previous quarter and the 44 percent rise in the same quarter a year ago. Revenue, or total income from software services, rose 25 percent to 37.73 billion rupees. Infosys is India's second-largest software exporter by revenue.
■ ENERGY
PTT wins New Zealand deal
Thailand's top oil firm, PTT Exploration and Production, has won a first concession in New Zealand, gaining rights to jointly explore six offshore blocks, the company said yesterday. The blocks are in the Great South Basin off New Zealand's South Island, an offshore area believed to be rich in resources, PTTEP said in a statement. "This achievement is considered as a major ... expansion in the Asia Pacific region. It is PTTEP's first project in New Zealand," company president Maroot Mrigadat said. The firm said that New Zealand had encouraging unexplored potential.
NATIONAL SECURITY: The Chinese influencer shared multiple videos on social media in which she claimed Taiwan is a part of China and supported its annexation Freedom of speech does not allow comments by Chinese residents in Taiwan that compromise national security or social stability, the nation’s top officials said yesterday, after the National Immigration Agency (NIA) revoked the residency permit of a Chinese influencer who published videos advocating China annexing Taiwan by force. Taiwan welcomes all foreigners to settle here and make families so long as they “love the land and people of Taiwan,” Premier Cho Jung-tai (卓榮泰) told lawmakers during a plenary session at the Legislative Yuan in Taipei. The public power of the government must be asserted when necessary and the Ministry of
Proposed amendments would forbid the use of all personal electronic devices during school hours in high schools and below, starting from the next school year in August, the Ministry of Education said on Monday. The Regulations on the Use of Mobile Devices at Educational Facilities up to High Schools (高級中等以下學校校園行動載具使用原則) state that mobile devices — defined as mobile phones, laptops, tablets, smartwatches or other wearables — should be turned off at school. The changes would stipulate that use of such devices during class is forbidden, and the devices should be handed to a teacher or the school for safekeeping. The amendments also say
EMBRACING TAIWAN: US lawmakers have introduced an act aiming to replace the use of ‘Chinese Taipei’ with ‘Taiwan’ across all Washington’s federal agencies A group of US House of Representatives lawmakers has introduced legislation to replace the term “Chinese Taipei” with “Taiwan” across all federal agencies. US Representative Byron Donalds announced the introduction of the “America supports Taiwan act,” which would mandate federal agencies adopt “Taiwan” in place of “Chinese Taipei,” a news release on his page on the US House of Representatives’ Web site said. US representatives Mike Collins, Barry Moore and Tom Tiffany are cosponsors of the legislation, US political newspaper The Hill reported yesterday. “The legislation is a push to normalize the position of Taiwan as an autonomous country, although the official US
CONSISTENT COMMITMENT: The American Institute in Taiwan director said that the US would expand investment and trade relationships to make both nations more prosperous The US would not abandon its commitment to Taiwan, and would make Taiwan safer, stronger and more prosperous, American Institute in Taiwan Director Raymond Greene said. “The US’ commitment to Taiwan has been consistent over many administrations and over many years, and we will not abandon our commitment to Taiwan, including our opposition to any attempt to use force or coercion to change Taiwan’s status,” he said in an exclusive interview with the Liberty Times (the sister newspaper of the Taipei Times) on Friday last week, which was published in the Chinese-language newspaper yesterday. The US would double down on its efforts
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