■ Banking \nChina tightens rules, fines \nChina's banking regulator will be able to impose fines of more than 2 million yuan (US$240,000) on financial institutions who breach regulations, part of moves to bring the industry in line with international standards. Under new rules to standardize punishments for rule-breakers, the regulator can also impose fines of more than 100,000 yuan on individuals, the China Banking Regulatory Commission said in a statement on its Web site. The rules are effective from Feb. 1. The regulator's provincial branches will be able to impose fines of more than 1 million yuan, while sub-branches can set fines of more than 500,000 yuan. \n■ Trade \nCorning `did not dump' \nChina's Ministry of Commerce has determined that Corning Inc didn't "dump" optical fiber into the Chinese market, the company said Monday. The 16 percent dumping levies on imports to China, which were in effect since June 16, were removed from Corning products effective immediately. Corning said the Chinese ministry determined Jan. 1 that the difference between Corning's US and Chinese prices was less than the threshold for dumping. However, the ministry ruled that optical-fiber imports from the US, Korea and Japan collectively hurt the domestic Chinese fiber industry. \n■ Hotels \nJapanese firm buys Menzies \nA Japanese financial group said on Monday it had acquired British hotel operator Menzies, which runs 14 properties around the country, for ?120 million (US$228 million). Nikko Principal Investments Limited, the European merchant banking arm of Tokyo-based Nikko Cordial Corp, said it was buying the four-star chain as a potential acquisition vehicle. In a statement released in London, Nikko said it intended to build on Menzies' successful growth and to use it as "a platform for further consolidation in the UK hotel market." \n■ Flat Panels \nLargest OLED developed \nSouth Korea's Samsung Electronics said on Tuesday it had developed the world's largest organic light emitting diode (OLED) display panel for high-definition televisions. The 21-inch OLED panel outperforms existing liquid crystal displays (LCDs) in brightness, slimness and power efficiency, the firm said. Samsung, one of the world's top electronics companies, said its new OLED display panel, an upgrade on its own 15-inch product, uses technology that can be easily mass-produced on the company's existing LCD production lines. \n■ Surveys \nHK still most `free' economy \nHong Kong was ranked the world's freest economy yesterday for the 11th consecutive year by the US-based Heritage Foundation. The former British colony, returned to Chinese rule in 1997, won the accolade in the 2005 Index of Economic Freedom put out by the Washington-based think tank. Singapore and Luxembourg were ranked second and third in the index, which is compiled by the foundation in collaboration with the Wall Street Journal. Hong Kong was praised by the foundation for its duty-free port, low level of government intervention, low inflation, low barriers to capital flows and foreign investment, and low level of regulation.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
RECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morning Taipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. The hospital said the 97-year-old Lee was not in good condition and needed ongoing care, adding that if there are any changes in his condition, it would make those public. The comments came after rumors emerged online on Tuesday that Lee had died after being hospitalized since early February. Soon after the unsubstantiated rumors emerged, reporters started flocking to the hospital seeking confirmation. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking
THAI CASE UPDATE: Twenty-nine close contacts of the worker have been tested with two types of tests, including 18 dorm mates, with 28 negative results so far Five imported cases of COVID-19, four from the Philippines and one from Hong Kong, were reported yesterday, bringing the total confirmed cases in Taiwan to 467, the Central Epidemic Command Center (CECC) said yesterday. The four returning from the Philippines were on the same flight, and the local health department has identified 15 people who had direct contact with them — including 10 passengers in the two rows in front or behind them, who have been put under 14-day home isolation, and five crew members, who will practice 14-day self-health management, said Centers for Disease Control (CDC) Deputy Director-General Chuang Jen-hsiang