Two opposition lawmakers said yesterday they will jointly initiate a revision to the existing Ministry of Economic Affairs organizational law to allow for creation of an "economic police bureau" to stem rising economic crime.
New Party Legislator Lai Shyh-bao (賴世葆) and KMT Legislator Hung Hsiu-chu (洪秀柱) explained their legislative plan at a joint news conference. Representatives of several private foundations dedicated to intellectual property rights protection were also present at the occasion to throw their support behind the plan.
Hung said as economic crime has become more sophisticated and organized, Taiwan must update its law enforcement mechanism in order to wipe out such criminal activities.
Lai said that the current practice of forming provisional task forces to handle major economic criminal cases has often faced difficulties in logistic support and disputes between command and supervisory units. "As a result, those teams usually couldn't work efficiently to stem increasingly sophisticated economic crimes," he lamented.
Noting that there is a great urgency in creating an economic police bureau, Lai said the Ministry of Economic Affairs basically supports the proposal. Nevertheless, he said, the National Police Administration remains wary about the plan's possible negative impact on its own role and functions.
Speaking on the same occasion, Hank Kwoo, chief executive of the Foundation for the Protection of Films and Video Works, said imported films and videos now face rampant counterfeiting in Taiwan.
According to the foundation's tallies, the domestic CD-ROM counterfeiting rate has surged to 35 percent from about 10 percent in the past. And importers of foreign films have lost an estimated US$35 million due to wide circulation of pirated films. Against this backdrop, Kwou said Taiwan must craft a more effective law enforcement mechanism to eliminate commercial counterfeiting.
Lai and Hung said they are drafting a revision bill to pave the way for creating an "economic police bureau."
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary