Tsai vows to liberalize finance rules
Tsai vows to liberalize finance rules‘INCREASINGLY FAVORED’: Taiwan’s ‘transparent laws and efficient courts’ as well as its financial institutions give it a major advantage to become a financial hub, Tsai saidBy Angelica Oung / Staff reporterTaiwan would liberalize banking and investment rules to establish itself as a regional financial hub, President Tsai Ing-wen (蔡英文) told the Taiwan Capital Market Forum in Taipei yesterday. “These bring new challenges and opportunities.”President Tsai Ing-wen speaks at the opening ceremony of the 2020 Taiwan Capital Market Forum, held by the Liberty Times, in Taipei’s Neihu Disitrct yesterday. Second, our comprehensive financial institutions,” she said. In addition, dividend yields are high in Taiwan, transactions are stable and transparent, and compared with surrounding countries, the liquidity of Taiwan’s capital markets is high, Tsai said. Premier Su Tseng-chang (蘇貞昌) told the forum that Taiwan has taken advantage of the US-China trade dispute by encouraging investment.
Source:Taipei Times
July 31, 2020 15:56 UTC
Lawmakers raided in graft probe
Lawmakers raided in graft probeBy Jason Pan / Staff reporterInvestigators yesterday searched the offices and homes of six current and former lawmakers, in connection with a corruption probe over allegations of taking bribes and other illegal activities arising from disputes in Far Eastern Group’s (遠東集團) takeover of Pacific Sogo Department Store (太平洋崇光百貨). Also under investigation were former New Power Party legislator Hsu Yung-ming (徐永明), former independent legislator Chao Cheng-yu (趙正宇) and former DPP lawmaker Mark Chen (陳唐山). Prosecutors and investigators, center, yesterday hold brown paper bags on their way out of Democratic Progressive Party Legislator Su Chen-ching’s office in the Legislative Yuan in Taipei. The corruption probe centered on efforts to amend Article 9 of the Company Act (公司法), deliberated in the Legislative Finance Committee. They said he allegedly gave bribes to Chao, and other unspecified lawmakers, to pressure government agencies for rezoning permits.
Source:Taipei Times
July 31, 2020 15:56 UTC
Aquarium’s 91 marine exhibits are legal, OCA says
Aquarium’s 91 marine exhibits are legal, OCA saysBy Lin Chia-nan / Staff reporterThe Ocean Conservation Administration (OCA) yesterday said that the Japanese aquarium Xpark, which is to open next week in Taoyuan, had applied and received approval to legally import 91 marine species, in response to public concern over where it is sourcing the animals. The aquarium is to feature hammerhead sharks, leopard sharks, stingrays, jellyfish, penguins, seals and sea lions, among others, the company said. People take pictures of jellyfish at the Xpark aquarium in Jhongli District, Taoyuan, yesterday. Photo: Lee Jung-ping, Taipei TimesWhile some aquariums feature whale sharks, the agency in June listed whale sharks, eagles and mobulid rays as endangered and first-class protected species. Visitors look at images of marine creatures projected on the floor in an interactive area of Xpark aquarium in Jhongli, Taoyuan, yesterday.
Source:Taipei Times
July 31, 2020 15:56 UTC
Lee’s support of art scene lauded
Lee’s support of art scene laudedBIG INFLUENCER: Had it not been for the former president, the art and cultural scene in Taiwan today would not be the same, singer Julian Lo saidBy Chen Feng-li, Ling Mei-hsueh and Dennis Xie / Staff reporters, with staff writerArtists and musicians yesterday expressed their condolences for the passing of former president Lee Teng-hui (李登輝), as well as their appreciation of his support for the arts and cultural industries. Wang Ying-hsin (王英信), who in 1997 was invited by Lee to create a 2.2m sculpture of the then-president, said that Lee loved art and he frequented many exhibitions during his time as president to support local artists. Lee would even visit artists’ studios, as he wanted to get to know artists and their working environments better, Wang said. “To date, which other mayor has had such an appreciation of art and culture?”Musician Mali Liu also appreciated Lee’s love of music. When Japanese photographer Koki Sato took part in the art exhibition “Geisai Taiwan2” in Taipei in 2010, Lee was the subject of some of his works.
Source:Taipei Times
July 31, 2020 15:56 UTC
Nation’s leaders mourn Lee’s passing
Nation’s leaders mourn Lee’s passingFAREWELL, SKIPPER: Lee Teng-hui was like the old captain of a democratic ship called ‘Taiwan,’ and his aspirations for that ship will never die, Chen Shui-bian saidBy Sean Lin and Lee Hsin-fang / Staff reportersGovernment agencies across the nation yesterday flew the national flag at half-mast to mourn the passing of former president Lee Teng-hui (李登輝), who died on Thursday aged 97. The arrangements for the memorial were decided at an intergovernmental meeting attended by Lee’s two daughters earlier yesterday, Huang said. A man yesterday kneels outside Taipei Veterans General Hospital’s Huai-en Hall to pay his respects to former president Lee Teng-hui, who died on Thursday. Lee’s family said that people were welcome to visit and mourn the former president, but asked that they not lay wreaths or baskets, he said. The national flag yesterday flies at half-mast at the Presidential Office Building in Taipei to mourn the passing of former president Lee Teng-hui.
Source:Taipei Times
July 31, 2020 15:56 UTC
Foreign leaders celebrate Lee’s life and legacy
As of yesterday afternoon, 206 foreign dignitaries from 45 countries and organizations had expressed sadness over Lee’s death, the Ministry of Foreign Affairs said. “President Lee’s death is truly regrettable, and I pray for his soul from the bottom of my heart,” Japanese Prime Minister Shinzo Abe said yesterday, as well as writing it on Twitter. “An alumnus of Iowa State University and Cornell University, President Lee also epitomized the strong people-to-people ties which bind the United States and Taiwan,” the AIT said in a statement. “Throughout his life, President Lee was a superlative leader, reformist and public servant,” said Project 2049 Institute chairman Randall Schriver, former US assistant secretary of defense for Indo-Pacific security affairs, in a statement. The British Office Taipei, the European Economic and Trade Office and other local representative offices also honored Lee’s role in building Taiwan’s vibrant democracy.
Source:Taipei Times
July 31, 2020 15:56 UTC
Remembering Lee Teng-hui: Ex-aide praises Lee Teng-hui’s love for Taiwan
Remembering Lee Teng-hui: Ex-aide praises Lee Teng-hui’s love for TaiwanBy Chen Yu-fu and Dennis Xie / Staff reporter, with staff writerFormer president Lee Teng-hui (李登輝) made great contributuons to Taiwan, including democratization, strengthening national sovereignty and enhancing people’s identity as Taiwanese, former Presidential Office secretary-general Huang Kun-huei (黃昆輝) said on Thursday after Lee died in Taipei aged 97. When Chiang died the following year, then-vice president Lee succeeded him, becoming the first Taiwan-born president of the nation, as opposed to his predecessors who were born in China. “I, Lee Teng-hui, promise that I will not hold grudges against anybody while I am on this Earth. I will respond to public opinion and never stop working for my beloved Taiwan,” Huang quoted Lee as saying after he was elected. Lee’s efforts to deepen Taiwan’s democracy did not stop when he stepped down as president in 2000, as he went on to found the Lee Teng-hui Foundation and the Lee Teng-hui Academy, which aimed to cultivate more young people who identified with and loved Taiwan, Huang said.
Source:Taipei Times
July 31, 2020 15:56 UTC
Former president Lee Teng-hui dies
Former president Lee Teng-hui dies‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needsBy Lin Hui-chin and Jake Chung / Staff reporter, with staff writerFormer president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. Former president Lee Teng-hui, who passes away at 97 in Taipei yesterday, is pictured on the cover of Newsweek magazine in 1996. Former president Lee Teng-hui waves to a crowd outside the Presidential Office Building in Taipei on May 20, 2000, after Chen Shui-bian was sworn in as Taiwan’s next president. During his lifetime, Lee underwent 12 stent procedures, 11 for his heart and one for his vertebral artery — installed when he was 92 years old. Former president Lee Teng-hui, in wheelchair, greets guests at a fundraiser for his foundation in Taipei on Oct. 19 last year.
Source:Taipei Times
July 30, 2020 15:56 UTC
MOF approves Jason Liao’s resignation
MOF approves Jason Liao’s resignationMISCONDUCT? Deputy Minister of Finance Frank Juan (阮清華) told reporters that the ministry respected Liao’s wish to separate his legal suits from First Financial’s operation. First Financial Holding Co chairman Jason Liao speaks at a meeting of the Legislative Yuan’s Finance Committee on Dec. 16 last year. Far Eastern Air reportedly fabricated its financial standing to qualify for the loans that became toxic assets to Taiwan Cooperative Bank, prosecutors said. Taiwan Cooperative Bank, the nation’s largest lender by number of branches, issued a brief statement, saying that all officials involved in handling the 2009 loan application complied with proper procedures.
Source:Taipei Times
July 30, 2020 15:56 UTC
NCC must be tough on CTi News, New Power Party says
NCC must be tough on CTi News, New Power Party saysBy Shelley Shan / Staff reporterThe National Communications Commission (NCC) should be tough when it reviews a license renewal application by CTi News, the New Power Party (NPP) told a news conference in Taipei yesterday. Five new commissioners are to take office on Monday next week, including NCC Acting Chairman Chen Yaw-shyang (陳耀祥), who is to be chairman. The commission said that it has received a CTi News license renewal application, which the channel is required to file at least six months before the license expires. Members of the New Power Party (NPP) caucus, including NPP caucus whip Chiu Hsien-chih, second left, and NPP Chairman Hsu Yung-ming, second right, attend a news conference in Taipei yesterday. We hope that the new commissioners would do better than their predecessors in being tough when reviewing the application,” he said.
Source:Taipei Times
July 30, 2020 15:56 UTC
Far Eastern Air Transport’s Chang Kang-wei charged
Far Eastern Air Transport’s Chang Kang-wei chargedBy Jason Pan / Staff reporterTaipei prosecutors yesterday charged Far Eastern Air Transport Corp (FAT, 遠東航空) chairman Chang Kang-wei (張綱維) with fraud after he allegedly embezzled NT$3.59 billion (US$121.61 million). Far Eastern Air Transport chairman Chang Kang-wei, center, is prosecuted by Taipei District Prosecutors’ Office yesterday. Investigators said that Chang, when Huafu Enterprise began to post losses in 2011, took out NT$840 million in loans from the Bank of Taiwan (臺灣銀行), Mega Commercial Bank (兆豐銀行) and Far Eastern International Bank (遠東商銀). Chang allegedly defrauded the banks by doctoring financial reports, and promising to restructure FAT and his other subsidiaries, investigators said. Liao and Hwang allegedly ordered associate managers Chen Shih-chin (陳世卿) and Lin Wen-li (林文理) to approve the loan for FAT, they said.
Source:Taipei Times
July 30, 2020 15:56 UTC
Delta Electronics registers record-high gross margin
Delta Electronics registers record-high gross marginBy Angelica Oung / Staff reporterDelta Electronics Co (台達電), the nation’s leading power and thermal solutions provider, yesterday said that gross margin last quarter hit a record high, as the company benefited from the work from home and remote learning trends. Investor relations officer Rodney Liu (劉致遠) credited the record gross margin of 32.9 percent to Delta’s superior product offerings. That compared with a gross margin of 26.48 percent in the first quarter and 26.99 percent in the same period last year. Delta’s operations are composed of: power electronics, including embedded power supplies, components and thermal management solutions; automation, mainly industrial automation services; and infrastructure, covering information infrastructure, energy infrastructure and industrial solutions. Revenue from power electronics and automation increased 4 percent and 6 percent respectively from a year earlier, while that from infrastructure dropped 18 percent, it said.
Source:Taipei Times
July 30, 2020 15:56 UTC
First ‘Made in Taiwan’ wind farm parts shipped
First ‘Made in Taiwan’ wind farm parts shippedBy Angelica Oung / Staff reporterThe first batch of “Made in Taiwan” wind farm components was delivered to Kaohsiung Harbor on Wednesday to be installed at an offshore project in Yunlin County. The Yunlin offshore wind farm, developed and operated by Wpd, is slated to be completed next year and would be the first in Taiwan to use locally sourced components, a joint statement by the firms said. “Made in Taiwan” wind farm components, to be installed at an offshore wind farm project in Yunlin County, are pictured at Kaohsiung Harbor on Wednesday. “With our expertise and experience, we are confident that CTCI Machinery can help Taiwan achieve its energy diversification goals through offshore wind farms,” he said. Once completed, the Yunlin offshore wind farm would be the largest single offshore wind farm project in the Asia-Pacific region, providing power for up to 640,000 households in Taiwan annually, the statement said.
Source:Taipei Times
July 30, 2020 15:56 UTC
Lee Teng-hui in dire condition: hospital source
Lee Teng-hui in dire condition: hospital sourceRECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morningStaff writer, with CNATaipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. Reporters and camera operators in the main hall of Taipei Veterans General Hospital yesterday wait for news about former president Lee Teng-hui, who has been receiving care at the hospital since Feb. 8. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking milk. The hospital has been tight-lipped about Lee’s condition, but speculation has been rife that his health has deteriorated over the past few months. Lee’s condition has become more unstable recently, the source said, adding that medical personnel are providing the care necessary to keep his condition in check.
Source:Taipei Times
July 29, 2020 16:00 UTC
Virus Outbreak: Border controls to stay for now, CECC says
Virus Outbreak: Border controls to stay for now, CECC saysWORSENING: The CECC head acknowledged a ‘tidal wave’ of COVID-19 infections affecting nearby countries, urging Taiwanese to practice protective measuresBy Lee I-chia / Staff reporterThe Central Epidemic Command Center (CECC) yesterday said that it would not ease border restrictions in the short term, as the COVID-19 pandemic is still in a dangerous situation globally, reiterating that mass testing is not necessary in Taiwan at this time. Taoyuan City Government officials yesterday attend a meeting to discuss Taiwan’s COVID-19 situation and disease control strategies. More than 300 imported cases were reported in Taiwan from the middle of March to early April, but the global COVID-19 situation has worsened since then, so it is inevitable to have some imported, he said. The CECC would not ease border restrictions in the near term, and would continue to observe the global situation, Chen said, adding that although local communities in Taiwan are relatively safe, everyone should still practice personal protective measures to reduce the risk of local infections to a minimum. “The migrant worker tested ‘weak-positive’ for COVID-19, so we have contacted the Thai authority to ask if it would conduct a second test for clarification,” he said.
Source:Taipei Times
July 29, 2020 16:00 UTC