■ Health Production halt damaging \n \nBritain halted influenza vaccine manufacturing at US-based Chiron Corp on Tuesday, wiping out a huge swathe of the world's expected supply for this flu season. British regulators suspended Chiron produc-tion for three months after uncovering unspecified sterility defects in the Liverpool plant, which makes all of the influenza vaccine, Fluvirin(R). US health authorities, who had been counting on Chiron for half of the country's flu vaccine this winter, scram-bled to patch up a plan to protect those most at risk. \n \n■ Banking \nCredit-card surge in China \n \nChina and India will lead the way in the new credit card surge in the Asia-Pacific region, a study by the London-based Lafferty Group predicted yesterday. China was expected to turn in a 47.5 percent com-pounded annual growth rate in new cards issued for the three years up to next year with India coming in at 29.4 percent, the study said. The total number of credit cards in China will likely hit 77 million next year, up from 52.2 million this year, the study said. In India, the number of cards was expected to grow to 13 million by the end of next year, up from 10 million this year. \n \n■ Financial services \nHynix deal wrapped up \n \nCitigroup Venture Capital Equity Partners LP, a unit of the world's largest financial service provider, completed the purchase of part of South Korea-based Hynix Semiconductor Inc's busi-ness, Hynix said in a state-ment. Citigroup made the payment to Hynix for its non-memory chip business, the statement said. The company in June agreed to purchase the Hynix busi-ness for 954 billion won (US$830 million) in cash and assumed debt. The move paves the way for Hynix, the world's second-largest maker of computer memory chips, to cut its 4.3 trillion won debt and keep up with Samsung Elec-tronics Co and Micron Tech-nology Inc on spending. The purchase allows Citigroup to invest in semiconductors. \n \n■ Investment \nFDI rises 71% in S Korea \n \nForeign direct investment (FDI) in South Korea stood at US$3.37 billion in the third quarter to last month, up 71 percent from a year earlier, the Ministry of Commerce, Industry and Energy said yesterday. The figures mark the third consecutive quarterly rise and are the highest since the fourth quarter of 2001, the ministry said. So far this year FDI is up 81.7 percent year-on-year to US$8.42 billion. The ministry said it expected to attain its goal of attracting US$10 billion of FDI this year. Manufac-turing attracted US$1.51 billion in FDI in the third quarter, up from US$319 million a year earlier, while service industries rose to US$1.84 billion from US$1.47 billion. \n \n■ Finance \nSoros boosts sons' jobs \n \nBillionaire philanthropist George Soros has given his sons greater responsibility in his firm as part of efforts to return the company to its roots as a hedge fund, a company memo said. Soros, who started Soros Fund Management LLC in 1973, appointed his son Robert chief investment officer on Sept. 14, said the memo, which was sent to investors on Monday. The memo said Jonathan Soros was recently appointed co-deputy chairman of Soros Fund Management. The appointments are part of organizational changes at the company.
EXTRADITION DEAL? A former prosecutor said that the US Department of Justice might ask Taiwan to extradite the men in return for the US doing something in return The US won arrest warrants for three Taiwanese men — a former president of China-based Fujian Jinhua Integrated Circuit Co (福建晉華) and two engineers — charged with stealing secrets from Idaho-based Micron Technology Inc. The effort to apprehend the three men — former Fujian Jinhua president Stephen Chen (陳正坤), and Ho Chien-ting (何建廷) and Wang Yong-ming (王永銘), who work for Taiwan-based United Microelectronics Corp (UMC, 聯電) — is notable because they were charged in 2018 in the first case filed under the “China initiative” of US President Donald Trump’s administration targeting trade-secret theft, hacking and economic espionage. However, legal experts have said
There was a net reduction last year in the number of Taipei residents and this year is expected to set a 23-year high for population decline in the city, Ministry of the Interior statistics released yesterday showed. From January to last month, 18,861 more people moved out of Taipei than moved into the capital, an increase of 7,000 from the same period last year, the data showed. That is a 7.2 percent decrease in the city’s population since the start of the year, the biggest drop in both percentage and total number among all municipalities and counties nationwide, the data showed. The data
COUNCILS CLASH: The Mainland Affairs Council said a new office in Hong Kong is to assist people with issues related to investment, study and employment in Taiwan The Mainland Affairs Council (MAC) yesterday denied an accusation by the Hong Kong-Taiwan Economic and Cultural Co-operation and Promotion Council that its Taiwanese counterpart in the territory was “interfering with Hong Kong’s internal affairs.” The Hong Kong council leveled the accusation after Taipei’s Taiwan-Hong Kong Economic and Cultural Co-operation Council this month announced it would establish a Taiwan-Hong Kong Services and Exchanges Office to facilitate humanitarian aid for Hong Kongers. The new office is scheduled to begin operations on Wednesday. The MAC yesterday asked the Hong Kong council to “not misinterpret” the government’s intentions. The two Taiwan-Hong Kong councils were established in 2010 to
IRRESPONSIBLE ATTITUDES? Some experts say the NHI system does not do enough to educate the public, or pay doctors to talk to patients, about healthy lifestyles While the life expectancy of Taiwanese newborns in 2018 reached 80.69 years, the number of years people spent in poor health hit a record high at 8.41 years, Ministry of Health and Welfare statistics showed on Saturday. Healthy life expectancy is calculated by a person’s life expectancy minus the time they spend in ill health, such as the loss of mobility, disabilities and chronic disease, based on medical records and calculations about the years they live with disabilities. The number of years that Taiwanese spend in poor health is increasing slowly, but steadily, rising by 0.46 years, or five-and-a-half months, between 2012