■ Labor
FTA protest draws 15,000
About 15,000 South Korean workers demonstrated in Seoul yesterday, demanding that the government stop free trade agreement (FTA) talks with the US. The protesters, including transport and metal workers, belong to the Korean Confederation of Trade Unions. A general strike would also be held on Wednesday to push their demands, they said. "No FTA," the workers shouted. They urged the government to enact laws to protect contract workers.
■ Automobiles
Dubai may sell part of stake
Dubai International Capital LLC, an investment company controlled by the emirate's ruling family, said it may sell part of its US$1 billion stake in DaimlerChrysler AG at between 45 euros (US$57.78) and 50 euros a share. "Between 45 [euros] and 50 [euros], we believe there is an opportunity to do a partial exit," Dubai International chief executive officer Sameer al-Ansari told reporters in Dubai on Saturday. "We're not in it forever." Al-Ansari met with the chief financial officers of companies including Deutsche Lufthansa AG, BASF AG, MAN AG and EADS Co to discuss investment opportunities.
■ Finance
G-20 to focus on energy
The chairman of the annual Group of 20 finance summit this weekend said yesterday he hoped an agreement could be reached on fair access to energy. Australian Treasurer Peter Costello will chair the two-day meeting of G-20 finance ministers and central bank governors that begins in Melbourne on Saturday. Costello said on Australian Broadcasting Corp TV that one of the most important discussions would center on increased oil prices, the world's energy needs and the growing demands of China and India. "How does the world satisfy these economies that there will be continuity of supply at realistic prices with no need to lockup supplies or have cartel activity which would rig those international markets?" Costello said.
■ Telecoms
Telstra offer to be increased
The Australian government said yesterday it would increase its offer of A$8 billion (US$6 billion) worth of shares in telco giant Telstra after a late rush for the stock. The spike in interest from the so-called "mom and dad" investors meant the government would do more than meet its target of selling 2.15 billion shares -- a third of its 51.8 percent stake, Finance Minister Nick Minchin said. A total of 320,000 applications for some 1.3 billion shares had been received from retail investors, easily surpassing the government's original sale target. The strong level of support from ordinary retail investors "sets the scene for a successful institutional offer to be conducted this week, with final pricing and allocation to take place next weekend," Minchin said.
■ China
Competition law urged
China will expedite the passing of a proposed anti-monopoly law to keep overseas capital from controlling businesses critical to its security, the National Development and Reform Commission said on Saturday. The country will also gradually reduce tax exemptions given to overseas firms and seek to prevent tax evasion by foreign companies, the nation's leading economic planning body said in a statement supplementing its 11th five-year plan for foreign investment, released last Thursday.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique