Turner may be new UK chief
The former director of the Confederation of British Industry is the British government’s top choice to become the new chairman of the country’s financial watchdog, the Sunday Times reported. The report said that Lord Adair Turner was expected to be appointed to the Financial Services Authority, which admitted earlier this year it had done a poor job of supervising Northern Rock, the mortgage lender that became Britain’s most prominent victim of the subprime mortgage crisis. Britain’s Treasury declined comment on the report, saying an announcement would be made “in due course.”
CNOOC eyeing Talisman
Chinese oil giant CNOOC (中國海洋石油) is in talks with Canadian-based Talisman Energy over a possible takeover deal, the South China Morning Post reported yesterday. CNOOC, China’s third-largest oil company, is in discussions that could lead to asset sales or a complete takeover, the report said, citing unnamed sources. It also said that energy giant PetroChina (中石油) was looking at taking a stake in Santos, the third-largest oil and gas company in Australia.
Toyota making road-rail car
Japan’s Toyota Motor Corp and its truck-making affiliate have joined a project to develop an environmentally friendly vehicle capable of moving both on roads and railways, an official said yesterday. Toyota and affiliate Hino Motors Ltd will take part in the development of a new model of a road-rail vehicle originally created by railway operator JR Hokkaido, a Hino spokesman said. The two auto companies are providing technology and materials to strengthen the front part of the “dual mode vehicle” so that it can carry up to 25 people. The railway firm, which operates railways in the northern island of Hokkaido, is already developing several prototypes of road-rail vehicles and has begun test drives. The vehicle has eight wheels — four iron wheels for railways and four rubber tires for roads — and is powered by a diesel engine. It is expected to be completed by the middle of next month and will be displayed at a welcome event for this year’s G8 summit in Hokkaido in July for which climate change is high on the agenda.
‘Shariah’ fund launch today
Daiwa Asset Management (Singapore) plans to launch Singapore’s first Shariah-compliant exchange-traded fund today as the Singapore attempts to attract more Islamic investment from overseas. The Daiwa FTSE Shariah Japan 100 will track 100 of Japan’s largest companies by market capitalization that comply with Islamic law, including Toyota Motor Corp, Canon Inc and Nintendo Co, Daiwa said in a statement to the stock exchange in Singapore yesterday. The exchange-traded fund is scheduled to list in Singapore today.
Contract talks continue
The smaller of two actors unions says contract talks with the major Hollywood studios are being held over the holiday Memorial Day weekend. The American Federation of Television and Radio Artists sent its members an e-mail on Sunday saying says the talks, which began on May 7 over a handful of TV shows, including Curb Your Enthusiasm, have been constructive. Sunday marked the 15th day of negotiations. The union’s three-year contract expires on June 30.
CONSOLIDATION? Taiwan Thinktank deputy executive-general Doong Sy-chi said Beijing’s intimidation tactics are further alienating those who identify as Chinese Only 2 percent of respondents to a poll on constitutional amendments and national identity identified as Chinese, while 62.6 percent identified as Taiwanese, the Taiwan Thinktank said yesterday. Legislators have proposed amendments to the Additional Articles of the Constitution (憲法增修條文), which would change the definition of the nation’s territory, remove the Taiwan Provincial Government as an entity, prioritize the use of “Taiwan” for national groups at international events, and remove restrictions on defining the national emblem, national flag and national anthem. The poll showed that 80.5 percent of respondents agreed that the nation should participate as “Taiwan” at events organized by world
NO SIGN OF WAR: Only if Taiwanese showed determination to defend the nation would others be willing to help in the event of a Chinese attack, the premier said Should China launch a war against Taiwan, the military would fight to the last standing person, Minister of National Defense Yen De-fa (嚴德發) said yesterday, adding that the nation has fully fleshed-out defense strategies. “Beijing has continued its acts of provocation against Taiwan, but there are currently no signs that it is ready to launch a full-scale war,” Yen said at the Legislative Yuan in Taipei. Asked how long Taiwan could withstand an attack from China, Premier Su Tseng-chang (蘇貞昌) said: “Taiwan will not fall.” Any belligerent force that initiates acts of war would pay a heavy price, and so too would Beijing,
MISTAKE: The Global Covenant of Mayors for Climate and Energy is not a UN body, and the government is committed to protecting the nation’s name, Joseph Wu said The Ministry of Foreign Affairs yesterday condemned the Global Covenant of Mayors for Climate and Energy for listing Taiwanese cities as belonging to China on its Web site, and asked that it correct the error. The organization was inaugurated in Brussels in 2016 as a global coalition of mayors committed to reducing greenhouse gas emissions. Six Taiwanese cities at the time joined the coalition as cities in “Taiwan,” the ministry said. However, officials from the Kaohsiung City Government — one of the organization’s members — last week noticed that the city was now listed on the organization’s Web site as a
MOTHERLAND? Taiwanese who take part in China’s National Day celebrations could be fined NT$100,000 to NT$500,000 if found to have contravened Taiwanese laws The Ministry of Culture yesterday cautioned China-based Taiwanese artists against breaching Taiwanese law by taking part in China’s National Day celebrations. The ministry issued the statement following media reports that Ouyang Nana (歐陽娜娜) is to sing a popular Chinese patriotic song titled My Motherland (我的祖國), and Angela Chang (張韶涵) is to sing Protect (守護) with Chinese entertainers at an event to mark China’s National Day on Thursday. The Mainland Affairs Council is investigating whether such behavior contravenes regulations in the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (臺灣地區與大陸地區人民關係條例), the ministry said. If the behavior involves matters