Taiwan proposed a customs deal with Singapore on the use of a Radio Frequency Identification (RFID) system on Thursday, Taiwanese officials said.
The officials, who are attending this year’s APEC forum leadership summit, said that Minister of Finance Lee Sush-der (李述德) proposed the customs cooperation pact with Singapore during a meeting on the sidelines of the summit.
RFID is a generic term used to describe a system that transmits the identity —- in the form of a unique serial number — of an object or person wirelessly, using radio waves. RFID is being used increasingly with biometric technologies for security purposes.
WILLINGNESS
Singaporean officials expressed willingness to consider the cooperation proposal and said they would discuss the issue with other departments, the Taiwanese officials said.
Meanwhile, at a separate press conference held by APEC finance ministers, Lee was asked by foreign reporters to briefly describe his thoughts on the summit.
‘FAMILY’
“We’re a family, we must work together to make the APEC community more prosperous and harmonious,” Lee said.
The regional economic meeting is in Singapore today and tomorrow. Lien Chan (連戰), the Chinese Nationalist Party’s (KMT) former chairman, is attending as the envoy of President Ma Ying-jeou (馬英九).
Taiwan gained full APEC membership in 1991, making it one of the few major international organizations of which the country is a member.
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01