ECONOMY
Taiwan 12th in gold reserves
Taiwan ranked 12th in global gold reserves in the first quarter of the year, according to a Forbes report, citing data from the World Gold Council (WGC). Taiwan had 423 tonnes of gold reserves, equivalent to about US$28 billion, Forbes reported on Friday last week. The US had the most gold reserves in the world, with almost as much as the combined total of the next three countries on the list, the magazine reported. According to the WGC data, the US had 8,133 tonnes of gold reserves, worth about US$579 billion. It was followed by Germany with 3,352 tonnes (US$238 billion), Italy with 2,451 tonnes (US$174 billion) and France with 2,436 tonnes (US$173 billion). Rounding out the top 10 list were Russia, China, Switzerland, Japan, India and the Netherlands, the WGC data showed. Gold reserves are critical for the economic stability of a country, acting as a reliable store of value, particularly during financial uncertainties, the magazine said.
Photo: Bloomberg
SEISMICITY
Two quakes jolt Hualien
An earthquake, which measured 4.8 on the Richter scale, struck off the coast of Hualien County in eastern Taiwan at 9:27am yesterday, followed by a magnitude 4.4 earthquake a minute later, the Central Weather Administration (CWA) said. The epicenter of the first earthquake was at sea, 21.2km south of Hualien County Hall, at a depth of 5.4km, CWA data showed. The temblor’s intensity, which gauges the actual effect of a seismic event, was highest in Hualien County, where it measured 4 on the nation’s 7-tier intensity scale. The second earthquake’s epicenter was also at sea, 21.2km south-southwest of Hualien County Hall, at a depth of 6.1km. Its intensity was highest in Hualien County, where it measured 4. No immediate damage or injuries were reported.
CRIME
Police investigate death
Yilan County police are investigating the case of an absconded Thai migrant worker who died and whose body was allegedly dumped at a dam last week by his employer, wife and two friends. Police said it launched an investigation after it was contacted on Tuesday by the Thailand Trade and Economic Office. Relatives of the man, who was in his 30s, contacted the office after being notified that he had died, police said. The relatives, who live in Thailand, provided information including the license plate number of the man’s boss. Police summoned the employer, surnamed Lin (林), who admitted the man died on Monday afternoon last week. According to police, Lin said he did not report the death because he had been employing the man, who had illegally overstayed his visa. Lin said he, along with the man’s wife and two Thai friends, disposed of the man’s body at a dam. The man’s wife said he had become ill recently and did not seek medical attention because of his undocumented status, police said. After the man’s death, the wife contacted Lin to ask for help and they decided to dispose of his body, it said. Based on Lin’s account, police were able to locate the man’s body, which did not have any signs of external injury. Police are waiting for an autopsy to determine cause of death. They have referred Lin, the man’s wife and two friends to Yilan prosecutors on suspicion of abandoning of a corpse. Lin would also face penalties for illegally employing a foreign worker, police said.
The Ministry of Education (MOE) is to launch a new program to encourage international students to stay in Taiwan and explore job opportunities here after graduation, Deputy Minister of Education Yeh Ping-cheng (葉丙成) said on Friday. The government would provide full scholarships for international students to further their studies for two years in Taiwan, so those who want to pursue a master’s degree can consider applying for the program, he said. The fields included are science, technology, engineering, mathematics, semiconductors and finance, Yeh added. The program, called “Intense 2+2,” would also assist international students who completed the two years of further studies in
The brilliant blue waters, thick foliage and bucolic atmosphere on this seemingly idyllic archipelago deep in the Pacific Ocean belie the key role it now plays in a titanic geopolitical struggle. Palau is again on the front line as China, and the US and its allies prepare their forces in an intensifying contest for control over the Asia-Pacific region. The democratic nation of just 17,000 people hosts US-controlled airstrips and soon-to-be-completed radar installations that the US military describes as “critical” to monitoring vast swathes of water and airspace. It is also a key piece of the second island chain, a string of
Taiwan will now have four additional national holidays after the Legislative Yuan passed an amendment today, which also made Labor Day a national holiday for all sectors. The Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) used their majority in the Legislative Yuan to pass the amendment to the Act on Implementing Memorial Days and State Holidays (紀念日及節日實施辦法), which the parties jointly proposed, in its third and final reading today. The legislature passed the bill to amend the act, which is currently enforced administratively, raising it to the legal level. The new legislation recognizes Confucius’ birthday on Sept. 28, the
A magnitude 5.9 earthquake that struck about 33km off the coast of Hualien City was the "main shock" in a series of quakes in the area, with aftershocks expected over the next three days, the Central Weather Administration (CWA) said yesterday. Prior to the magnitude 5.9 quake shaking most of Taiwan at 6:53pm yesterday, six other earthquakes stronger than a magnitude of 4, starting with a magnitude 5.5 quake at 6:09pm, occurred in the area. CWA Seismological Center Director Wu Chien-fu (吳健富) confirmed that the quakes were all part of the same series and that the magnitude 5.5 temblor was
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