■ FOREX
Paulson backs greenback
US Secretary of the Treasury Henry Paulson expressed confidence on Monday in the dollar's prospects despite new highs notched up by the euro against the US currency. In an interview with the CNBC financial news network, Paulson also predicted that problems afflicting the lower end of the US mortgage market would not infect the broader economy. He said he felt "very strongly that a strong dollar's in our nation's interest and the dollar's value should be determined in a competitive marketplace based upon underlying economic fundamentals." Paulson said he felt that way "about all currencies and again ... I believe this country has very strong underlying economic fundamentals."
■ MOBILE PHONES
Samsung mulls fashion link
Samsung Electronics Co said yesterday it may cooperate with luxury name brands such as the Italian fashion house Armani in its mobile phone business. "We're reviewing the possibility of collaborating with premium brands for [our] mobile phone business," Samsung spokeswoman Lee Soo-jeong said. Armani is among the brands the company is considering, she said. "However, nothing has been decided," she said. Rival LG Electronics Inc earlier this year launched its high-end Prada phone, produced in partnership with the Italian fashion brand. The Prada features a no-button interface with the front covered by a touch-sensitive screen resembling the Apple iPhone.
■ AUTOMOBILES
Quake cuts production
Japan's auto production has been cut by an estimated 110,000 vehicles after a recent earthquake, the government said yesterday, as several manufacturers resumed output. The industry should not suffer any lasting impact from the shutdowns caused by lack of parts after last week's quake northwest of Tokyo, Economic and Fiscal Policy Minister Hiroko Ota said: "If [automakers] are able to catch up and make up for the delayed production, I do not expect to see a significant long-term effect."
■ AVIATION
Chinese buyers sought
China's first showroom selling aircraft to private customers has opened in Hangzhou, the Beijing Morning Post reported yesterday, in the latest sign of soaring incomes. The Tianducheng General Aviation Marketing and Service Center opened its doors on Monday to reveal a wide range of helicopters and small private and agricultural-use airplanes, the newspaper said. The number of private owners of aircraft is now "less than 100" nationwide, the newspaper said, but the aircraft dealer in Zhejiang Province plans to capitalize on expected growing private sales as personal incomes continue to skyrocket.
■ AVIATION
Budget carriers warned
Thailand's aviation authority has imposed new marketing rules for budget carriers after complaints that prices in their ads were misleading, an official said yesterday. The airlines must now submit their low-fare ads to the government for approval, the director-general of the aviation department said. "We want to make sure that price competition in the industry is fair," he said. He declined to name airlines that had been accused of misleading ads. Nok Airlines, owned by Thai Airways International, welcomed the new rules, but said passengers should also read the fine print more carefully.
‘A SERIOUS THREAT’: Japan has expressed grave concern over the Strait’s security over the years, which demonstrated Tokyo’s firm support for peace in the area, an official said China’s military drills around Taiwan are “incompatible” with peace and stability in the Taiwan Strait, Japanese Minister of Foreign Affairs Takeshi Iwaya said during a meeting with his Chinese counterpart Wang Yi (王毅) on Thursday. “Peace and stability across the Taiwan Strait is important for the international community, including Japan,” Iwaya told Wang during a meeting on the sidelines of the ASEAN-related Foreign Ministers’ Meetings in Kuala Lumpur. “China’s large-scale military drills around Taiwan are incompatible with this,” a statement released by the Japanese Ministry of Foreign Affairs on Thursday cited Iwaya as saying. The Foreign Ministers’ Meetings are a series of diplomatic
‘REALISTIC’ APPROACH: The ministry said all the exercises were scenario-based and unscripted to better prepare personnel for real threats and unexpected developments The army’s 21st Artillery Command conducted a short-range air defense drill in Taoyuan yesterday as part of the Han Kuang exercises, using the indigenous Sky Sword II (陸射劍二) missile system for the first time in the exercises. The armed forces have been conducting a series of live-fire and defense drills across multiple regions, simulating responses to a full-scale assault by Chinese forces, the Ministry of National Defense said. The Sky Sword II missile system was rapidly deployed and combat-ready within 15 minutes to defend Taiwan Taoyuan International Airport in a simulated attack, the ministry said. A three-person crew completed setup and
DRILLS FOR 10 DAYS: The exercises would continue around the clock under realistic conditions taking into account all possibilities, the defense ministry said Taiwan yesterday launched its largest-ever military drills intended to guard against Chinese threats to invade, including using “gray zone” tactics deployed by China that stop just short of open warfare. This year’s 10-day live-fire Han Kuang exercises are the longest yet and follow the delivery of a range of new weaponry from tanks to uncrewed waterborne drones. The drills began with exercises to counter the actions of China Coast Guard and maritime militia ships that have been harassing Taiwanese vessels around outlying islands close to the Chinese coast, the Ministry of National Defense said. Cyberattacks and misinformation campaigns are seen by Taiwan as
URBAN COMBAT: FIM-92 Stinger shoulder-fired missiles from the US made a rare public appearance during early-morning drills simulating an invasion of the Taipei MRT The ongoing Han Kuang military exercises entered their sixth day yesterday, simulating repelling enemy landings in Penghu County, setting up fortifications in Tainan, laying mines in waters in Kaohsiung and conducting urban combat drills in Taipei. At 5am in Penghu — part of the exercise’s first combat zone — participating units responded to a simulated rapid enemy landing on beaches, combining infantry as well as armored personnel. First Combat Zone Commander Chen Chun-yuan (陳俊源) led the combined armed troops utilizing a variety of weapons systems. Wang Keng-sheng (王鏗勝), the commander in charge of the Penghu Defense Command’s mechanized battalion, said he would give
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