Central bank fights industrial land hoarding
Central bank fights industrial land hoardingCLEARING OBSTRUCTIONS: Trade groups have urged the government to step in, as firms seeking to move production lines home have had difficulty finding landBy Crystal Hsu / Staff reporterTo prevent land hoarding that could slow investment by companies returning home from China, the central bank on Thursday convened a meeting with 16 financial institutions to press for stricter review of industrial land financing. The central bank said that it urged the financial institutions to practice self-discipline and to demand concrete property development plans from borrowers seeking land financing. Central bank Governor Yang Chin-long speaks at a news conference at the bank in Taipei on Dec. 17. However, there are areas in the nation that have idle plots of industrial land. The price of industrial land has noticeably picked up over the past few years due to limited supply and growing demand from companies returning from abroad, the central bank said.
Source:Taipei Times
January 01, 2021 15:56 UTC
EDITORIAL: Regulation needed for online media
EDITORIAL: Regulation needed for online mediaThe National Communications Commission (NCC) has in the past few weeks come under fire over a draft digital communications bill that would allow it to regulate online platforms. Increasingly, people are consuming content through online platforms such as YouTube, Netflix and other paid subscription services. Given this trend toward online media consumption, the NCC must adapt and regulate content through streaming services, in the same way that it regulates radio and television content. It would also prevent minors from consuming content that is unsuitable for them, such as violence or sexual content, and prevent online slander or defamation, among other illegal acts. Laws must evolve, and this is the juncture where it has become important to regulate content broadcast online.
Source:Taipei Times
January 01, 2021 15:56 UTC
Tsai urges understanding for US pork import policy
Tsai urges understanding for US pork import policyADDITIVE ALERT: New Taipei City Mayor Hou You-yi asked for a labeling mandate for pork containing traces of ractopamine to ‘protect the public’s right to know’By Yang Hsin-hui, He Yu-hua and Jonathan Chin / Staff reporters, with staff writer and CNAPresident Tsai Ing-wen (蔡英文) yesterday in her New Year’s Day speech asked Taiwanese for understanding over the government’s decision to open up to imports of US pork containing traces of ractopamine. A shopper passes by a “ractopamine-free” pork section in a supermarket in Taipei yesterday. Ko was speaking during a visit to a “ractopamine-free pork” section of a Carrefour hypermarket, which was established after the Taipei City Government passed ordinances requiring importers to test pork for the substance and stores to label pork products. New Taipei City Mayor Hou You-yi (侯友宜) yesterday visited a “ractopamine-free cuisine” section of the Global Mall at Banciao Railway Station. New Taipei City last month announced ordinances mandating ractopamine labels for nine types of vendors and the regulations would be implemented in stages, Hou said.
Source:Taipei Times
January 01, 2021 15:56 UTC
Council of Grand Justices rules therapy for sex offenders ‘mostly constitutional’
Council of Grand Justices rules therapy for sex offenders ‘mostly constitutional’Staff writer, with CNAThe Council of Grand Justices on Thursday declared that laws allowing convicted sex offenders to be held in a designated facility for therapy after completing their sentence are “mostly constitutional.”However, the council ruled it “unconstitutional” that convicted sex offenders are not given an opportunity to express their opinion before holding them for potentially indefinite treatment. From left: Judicial Yuan Vice President Tsai Jeong-duen, Judicial Yuan President Hsu Tzong-li and Grand Justice Huang Horng-shya preside at the Council of Grand Justices on Thursday, as the council issued Constitutional Interpretation No. The council made the constitutional interpretation after four petitioners asked it to rule on the constitutionality of holding sex offenders for mandatory therapy after the end of their prison term. While the laws specify that offenders held at therapy facilities must be evaluated annually to determine their progress, they do not set a maximum length for the therapy, meaning that they can in principle be held indefinitely. About 60 sex offenders are currently receiving therapy, it said.
Source:Taipei Times
January 01, 2021 15:56 UTC
SCI outsourcing expected to aid sales after factory fire
SCI outsourcing expected to aid sales after factory fireBy Chen Cheng-hui / Staff reporterSCI Pharmtech Inc’s (SCI, 旭富製藥) plans to outsource production of intermediates to other Taiwanese firms are expected to help recover some of its lost sales, after its plant in Taoyuan’s Lujhu District (蘆竹) was severely damaged by a fire on Sunday last week, analysts said this week. Firefighters and security guards stand outside SCI Pharmtech Inc’s plant in Taoyuan’s Lujhu District on Tuesday last week. Photo: Wei Chin-yun, Taipei TimesSCI produces active pharmaceutical ingredients (API), intermediates and specialty chemicals, with intermediates contributing 26.66 percent to its total sales in 2019. In a regulatory filing on Friday last week, SCI said it was discussing with local manufacturers about outsourcing some production during the rebuild of its lines. The company would likely post losses for last year, with estimated losses per share of NT$1.15, compared with earnings per share of NT$7.19 in 2019.
Source:Taipei Times
December 31, 2020 15:56 UTC
CECC says low risk of community infection
People find places in front of the stage in Taipei City Hall Plaza yesterday ahead of last night’s New Year’s Eve celebration. Centers for Disease Control Deputy Director-General Chuang Jen-hsiang, spokesman for the Central Epidemic Command Center, holds a news conference at the center in Taipei yesterday. People were still being invited to attend New Year’s Eve concerts in Taipei, as well as Hsinchu, Penghu, Taitung, Yunlin, Kinmen and Lienchiang counties. “People might be concerned that these cases could lead to community infections, but the evidence so far shows that the risk of people contracting COVID-19 in the community remains very low,” Chuang said. As many cities and counties decided to livestream New Year’s Eve concerts, the Taiwan Railways Administration said that it cut additional trains scheduled for yesterday from 36 to 24.
Source:Taipei Times
December 31, 2020 15:56 UTC
Housing price index up 1.43% in Q3
Housing price index up 1.43% in Q3HEALTHY ECONOMY: Overall growth and low interest rates drove demand, the interior ministry said, one day after the legislature passed measures to curb speculationBy Chen Cheng-hui / Staff reporterThe nation’s housing price index in the third quarter of last year continued to increase, rising 1.43 percent from the second quarter to 106.89, the Ministry of the Interior said yesterday. Among the six special municipalities, the housing price index in Tainan reported the largest quarterly increase at 2.56 percent, followed by Taoyuan at 2.12 percent and Taichung at 2.05 percent, the ministry said in a statement on its Web site. The index grew 1.59 percent in Taipei, 1.21 percent in New Taipei City and 0.91 percent in Kaohsiung, ministry data showed. “Coupled with strong sales in certain regions, the overall housing price index increased, while the total of outstanding balances on housing loans also hit a new high of NT$7.81 trillion [US$273.96 billion] at the end of the third quarter,” it said. Compared with a year earlier, the housing price index grew 3.21 percent, data showed.
Source:Taipei Times
December 31, 2020 15:56 UTC
‘Chaotic’ local meat ordinances voided
The Executive Yuan decided to nullify the ordinances as they are illegal and implausible, Minister Without Portfolio Lo Ping-cheng (羅秉成) told a news conference in Taipei. Photo: Chien Jung-fong, Taipei TimesThe nation needs unified food safety standards so that producers can comply with the regulations, but the local ordinances state different standards, structures and penalties, Lo said. To unify the regulations, the Executive Yuan has decided to abolish the ordinances, he added. Any local governments that ignore the rules could be penalized, the Executive Yuan said, adding that any sanctions placed on companies would be revoked. The ordinances are backed by both local councils and public opinion, he added, accusing the Executive Yuan of “lacking respect.”The KMT condemned the decision and promised to coordinate with local governments seeking a constitutional interpretation.
Source:Taipei Times
December 31, 2020 15:56 UTC
Changhua girl overcomes challenges, gets into NTU
Changhua girl overcomes challenges, gets into NTUBy Liu Hsiao-hsin and Kayleigh Madjar / Staff reporter, with staff writerHigh-school student Chen Chien-ying (陳芊穎) said she hopes to help others after so many helped her overcome the limitations of cerebral palsy, once she obtains a psychology degree from National Taiwan University (NTU). On Thursday last week, Chen became the first student from Changhua County’s National Lukang Senior High School to be accepted into the prestigious university through its program to help disadvantaged students. Student Chen Chien-ying, front center, her counselor Yu Chih-ting, left, school principal Lin Yi-hsien, right, and another student are pictured at National Lukang Senior High School in Changhua County on Monday. Chen, who has never attended a cram school, received good-enough grades in her high-school entrance exam to attend National Changhua Girls’ Senior High School, but decided to stay closer to home. Chen is not deterred by limitations, but works hard to realize her dreams, Lukang Senior High principal Lin Yi-hsien (林宜賢) said.
Source:Taipei Times
December 30, 2020 15:56 UTC
Rakuten eyes pilot for its Web-only bank operations
Rakuten eyes pilot for its Web-only bank operationsBy Kao Shih-ching / Staff reporterRakuten International Commercial Bank (樂天國際商銀) plans to launch a pilot for its Web-only operations by the end of next month, company chairman Chien Ming-jen (簡明仁) said on Monday. Rakuten International Commercial Bank chairman Chien Ming-jen speaks at a news conference in Taipei on Nov. 5. Rakuten Bank received an operating license from the commission earlier this month, ahead of two peers, Next Bank (將來銀行) and Line Bank (連線商業銀行). In related news, Lin Chih-chi said that operating licenses for Next Bank and Line Bank might be delayed. The commission would speak with Line Bank, as its affiliate messaging app Line Corp this month launched a service that enabled the bank to collect consumers’ data even though Line Bank has not received an operating license, he said.
Source:Taipei Times
December 30, 2020 15:56 UTC
Justices urged to keep forced treatment of molesters
Justices urged to keep forced treatment of molestersBy Chen Yun and Jonathan Chin / Staff reporter, with staff writerVictims’ rights groups and lawmakers yesterday urged the Council of Grand Justices to uphold the involuntary psychiatric treatment of sex offenders as the council is to hand down a ruling on the practice today. After completing his sentence, Lu was involuntarily committed to psychiatric treatment for an additional nine years until the Taiwan High Court’s Taichung branch ordered his release on Sept. 11. Sex offenders have a high recidivism rate and releasing them into society infringes on the public’s right to freedom from fear, she said. “The personal freedoms of convicted sex offenders should not be protected at the expense of the victims and the rights of the public,” she said. Measures being deliberated by officials include removing the maximum involuntary treatment of five years for the criminally insane, and mandating GPS ankle monitors and other surveillance devices for released sex offenders, he said.
Source:Taipei Times
December 30, 2020 15:56 UTC
FSC fines Cathay United
FSC fines Cathay UnitedBy Kao Shih-ching / Staff reporterThe Financial Supervisory Commission (FSC) has fined Cathay United Bank (國泰世華銀行) NT$12 million (US$420,949) over lapses in its internal controls after an employee stole NT$17.32 million from four clients, the commission told a news conference in New Taipei City on Tuesday. A customer relationship manager surnamed Hong (洪) at a Cathay United branch in New Taipei’s City’s Banqiao District (板橋) from March 2016 to March took advantage of his clients’ trust to pocket their cash, the commission said. A Cathay United Bank branch is pictured in Taipei in an undated photograph. The FSC found that Cathay United failed to set up solid internal controls and did not implement risk management controls, he said. For the year to date, the FSC has fined five banks over staff stealing a combined NT$336 million from clients, it said.
Source:Taipei Times
December 30, 2020 15:56 UTC
Taipei adds another 16 electric buses to meet 2022 goals
Taipei adds another 16 electric buses to meet 2022 goalsBy Tsai Ssu-pei and Jonathan Chin / Staff reporter, with staff writerThe Taipei City Government has added 16 electric buses to its fleet, in a push to cut carbon emissions and noise pollution, the Taipei Department of Transportation told a news conference on Monday. Under the Executive Yuan directive for replacing all urban public buses with electric vehicles by 2030, Taipei began introducing electric buses to its fleet in 2018 and expects to have put 529 electric buses on the road by 2022, he said. Drivers stand by their new electric buses at the Shin-Shin Bus depot in Taipei on Monday. Electric buses cost from NT$10 million to NT$12 million, but they save costs, and offer more comfort and safety, he said. Taipei’s low-floored diesel buses are typically used for eight years, while properly maintained electric buses are expected to remain in service for about 12 years, he said.
Source:Taipei Times
December 30, 2020 15:56 UTC
University, firm working on domestic submersible
University, firm working on domestic submersibleBy Huang Hsu-lei, Chang Chung-yi and Jake Chung / Staff reporters, with staff writerNational Sun Yat-sen University and CSBC Corp, Taiwan have been working to develop and build a search-and-rescue submersible, a research team said yesterday. The submersible, which is being developed by the university’s Institute of Undersea Technology, is equipped with the institute’s fiber-optic instrumentation towed system and locally built sonar systems, the institute said. Its development team, led by Wang Chua-chin (王朝欽), said that the first variant of the dual-seat submersible completed an 8m underwater test in Kaohsiung Harbor on July 15. Researchers from National Sun Yat-sen University’s Institute of Undersea Technology and the National Applied Research Laboratories’ Taiwan Ocean Research Institute pose for a photograph in front of a prototype search-and-rescue submersible in Kaohsiung on Tuesday. National Applied Research Laboratories’ Taiwan Ocean Research Institute Director Wang Chao-chang (王兆璋) said that the nation has always had the capability of manufacturing underwater equipment.
Source:Taipei Times
December 30, 2020 15:56 UTC
Ministry tightens Chinese investment regulations
Ministry tightens Chinese investment regulationsSECURITY ISSUE: Chinese military and CCP-owned firms are banned from investing in Taiwan, while other companies are restricted to investing in non-sensitive sectorsBy Angelica Oung / Staff reporterThe Ministry of Economic Affairs yesterday said that it has tightened control on Chinese investments in Taiwan due to national security concerns, following in the steps of countries such as the US and Japan. Based on new regulations, Chinese military-owned companies and Chinese Communist Party-owned companies are banned from investing in Taiwan. Article 4 has expanded the definition of “investment” to cover any purchase of Taiwanese companies or assets by a Chinese company, even in the absence of a stock deal. “Chinese companies are restricted to investing in non-sensitive sectors such as retail and wholesale,” Su said. The ministry also announced an amendment to the Regulations Governing Investment or Technical Cooperation in the Mainland Area (在大陸地區從事投資或技術合作許可辦法), tightening control of Taiwanese technology and intellectual property (IP) going to China.
Source:Taipei Times
December 30, 2020 15:56 UTC