■ RUSSIA
Growth forecast raised
Russia raised its forecasts on Monday for economic growth and inflation this year, saying the economy was now expected to expand by 7.1 percent, news agencies reported. The economic development ministry, whose previous forecast for growth had been 6.7 percent, said inflation this year was now seen at 9.5 percent instead of 8.5 percent. "The inflation forecast has been raised because of the rise in food prices and wheat," the director of macroeconomic forecasting in the ministry told Interfax agency.
■ TELECOM
Icahn suing Motorola
Billionaire investor and corporate raider Carl Icahn said on Monday he had filed a lawsuit in the State of Delaware to obtain access to certain documents for his battle with the management of telecom equipment maker Motorola. "Over the past 12 months the statements and predictions of Motorola's management and the Board about Mobile Devices business have too often proven to be wrong," the statement said. Motorola earlier this year said it was studying a possible breakup of the company in an effort "to recapture global market leadership" in the mobile phone market and to enhance shareholder value. Icahn has been pressing for actions to boost shareholder value at Motorola.
■ EUROPE
OECD chief calls for reform
Europe faces "peril" if it does not reform its labor and product markets, Angel Gurria, the secretary-general of the Organization for Economic Cooperation and Development (OECD) warned in an interview published yesterday. "Reform is indispensable," Gurria told the Financial Times business daily. "People have to be aware of the costs of inaction -- the costs of action are short-term, but the benefits are long-term. Europe has it in its own control to close the gap and if they don't do it, it will be at their own peril." Living standards in Europe are one-third lower than in the US, a similar gap to the 1970s, the paper reported. Gurria reportedly urged politicians to present the case for reform to voters to build up support for proposals that are often unpopular.
■ INTERNET
Netflix Web site down
Online DVD rental leader Netflix Inc suffered a technology breakdown on Monday that knocked out its Web site for about 11 hours, inconveniencing many of its 7.5 million subscribers. The outage could mean some customers will have to wait longer than usual for their next rentals. The trouble blocked access to Netflix's Web site about from about 7am to 6pm US Pacific time on Monday, Netflix spokesman Steve Swasey said. It marked the second-longest disruption since Netflix launched its service nine years ago.
■ TRADE
Doha talks near deal
The Doha round of global trade talks is close to reaching an accord in principle on industrial tariffs and farm subsidies and quotas, Brazil's chief trade negotiator, Robert Azevedo, said on Monday. He cited an increased sense of urgency among negotiators to reach an accord before the US presidential election in November and particularly more willingness by the EU and the US in recent weeks. The key players had moved to seeking solutions and bridging differences, he said. There was no certainty of success and a likely ministerial-level meeting would be decisive, he said.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from
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