Chinese items to be tested
The Natural Products Association, a trade group for dietary-supplement manufacturers, will test the purity and composition of raw materials from China. The US Pharmacopeia, a nonprofit organization that sets standards for over-the-counter and prescription drugs, supplements and other health products, will perform the tests in its Shanghai laboratory, the trade group said in a statement on Saturday. "By testing raw materials in China, we're adding another layer of consumer protection to a process that has delivered good health products to Americans for generations," said David Seckman, executive director of Natural Products, in a statement. Chinese firms which agree to have their products examined will build reputations as reliable suppliers and gain access to new customers, the group said.
UK hike predicted
The Bank of England may raise its benchmark interest rate by a quarter point as soon as next month to cool inflation and curb money supply, Ernst & Young is expected to say in London today. Borrowing costs will have to rise further to stabilize prices, after inflation held above the bank's target for a 14th month in last month, the firm is expected today say. Ernst & Young will maintain its forecast for Britain's economic growth this year at 2.9 percent, the fastest pace since 2004. The Bank of England raised the benchmark interest rate this month to 5.75 percent, a six-year high.
Quake raises TEPCO's costs
Tokyo Electric Power Co (TEPCO) is likely to suffer extra costs of at least ?200 billion (US$1.7 billion) after one of its nuclear power plants was damaged by an earthquake last week, a media report said yesterday. "It is extremely difficult" for TEPCO to resume operations at the plant by March next year as it will take time to have its quake-resistance capabilities reinforced, the Nikkei Shimbun said. Authorities have ordered TEPCO to halt operations at the Kashiwazaki-Kariwa plant indefinitely.
SK Energy wins Peru stake
SK Energy, South Korea's largest oil refiner, said yesterday that it had won a bid to develop a "very promising" oil field in Peru's offshore Trujillo basin. The company said in a statement that it had won a 100-percent stake in the Peru Offshore Block Z-46 in a bidding round sponsored by Peru's oil licensing company Perupetro. Including the new oil field, SK Energy is now engaged in exploration and production of energy in 26 blocks in 14 countries. The company also plans on investing 544 billion won (US$596 million) in global exploration and production business this year.
Students urged to return
Citizens studying overseas have been urged to return home to pursue their careers amid a government drive to attract more professionals from overseas, the Sunday Times reported. Manpower Minister Ng Eng Hen (黃永宏) said Singapore needed "able people to fill" the job opportunities created by a vibrant domestic economy and strong Asian growth, the paper quoted him as saying. Of the 150,000 Singaporeans living, working and studying abroad, 40 percent are in their 20s and are sought after by top firms because of their educational background, Ng said.
Swedish Member of Parliament Hampus Hagman is pushing for changing the name of the nation’s trade office in Taipei to signal improved relations with “Asia’s perhaps foremost democracy.” Hagman on Wednesday last week proposed renaming the Swedish Trade and Invest Council to “Sweden’s Office in Taipei,” following similar changes by other nations. The Swedish Trade and Invest Council, part of Business Sweden, is owned by the Swedish government and Swedish industry. Taiwan and Sweden share important values such as respect for democracy, human rights, the rule of law and freedom of speech, Hagman said in the motion, adding that the two nations
TWO CASES: The five allegedly conspired with conglomerates, threatening the nation’s governance and subverting the rules of ethical conduct, a deputy chief prosecutor said Taipei prosecutors yesterday charged three legislators and one former lawmaker with contravening the Anti-Corruption Act (貪污治罪條例) in a case linked to former Pacific Distribution Investment Co (太平洋流通) chairman Lee Heng-lung’s (李恆隆) battle with the Far Eastern Group (遠東集團) over ownership of the Pacific SOGO Department Store (太平洋崇光百貨) chain, while independent Legislator Chao Cheng-yu (趙正宇) was indicted in a separate case involving two funeral services companies and a plot of land in a national park. Chinese Nationalist Party (KMT) legislators Chen Chao-ming (陳超明) and Sufin Siluko (廖國棟), Democratic Progressive Party (DPP) Legislator Su Chen-ching (蘇震清) and former New Power Party legislator
PENGHU INSPECTION: Taiwan cannot let its enemies strut around in its airspace, Tsai said, one day after a Chinese spokesman denied a median line exists in the Taiwan Strait Following China’s assertion on Monday that there is no “median line” in the Taiwan Strait, President Tsai Ing-wen (蔡英文) yesterday pledged to defend the nation’s airspace during a visit to an air force base in Penghu, saying that Taiwan cannot allow others to flex their military muscle in its territorial airspace. Tsai praised the “heroic performance” of the pilots of the Indigenous Defense Fighters who have been intercepting Chinese People’s Liberation Army Air Force planes in recent days. “I have a lot of confidence in you. As soldiers of the Republic of China [ROC], how could we let enemies strut
EFFICIENCY: The rules for Philippine arrivals were revised after 17.6% of arrivals with symptoms tested positive, compared with 0.7% of those with no symptoms Starting today, Chinese spouses who hold a reunion permit can apply to enter Taiwan and travelers without symptoms from the Philippines do not need to be tested for COVID-19 upon arrival, but are to be tested after a 14-day quarantine, the Central Epidemic Command Center (CECC) said yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that from today, Chinese who are married to a Taiwanese citizen and hold a reunion permit can apply to the National Immigration Agency for entry into Taiwan. Chinese who are married to a foreign national and hold an accompanied reunion permit