■ Labor
FTA protest draws 15,000
About 15,000 South Korean workers demonstrated in Seoul yesterday, demanding that the government stop free trade agreement (FTA) talks with the US. The protesters, including transport and metal workers, belong to the Korean Confederation of Trade Unions. A general strike would also be held on Wednesday to push their demands, they said. "No FTA," the workers shouted. They urged the government to enact laws to protect contract workers.
■ Automobiles
Dubai may sell part of stake
Dubai International Capital LLC, an investment company controlled by the emirate's ruling family, said it may sell part of its US$1 billion stake in DaimlerChrysler AG at between 45 euros (US$57.78) and 50 euros a share. "Between 45 [euros] and 50 [euros], we believe there is an opportunity to do a partial exit," Dubai International chief executive officer Sameer al-Ansari told reporters in Dubai on Saturday. "We're not in it forever." Al-Ansari met with the chief financial officers of companies including Deutsche Lufthansa AG, BASF AG, MAN AG and EADS Co to discuss investment opportunities.
■ Finance
G-20 to focus on energy
The chairman of the annual Group of 20 finance summit this weekend said yesterday he hoped an agreement could be reached on fair access to energy. Australian Treasurer Peter Costello will chair the two-day meeting of G-20 finance ministers and central bank governors that begins in Melbourne on Saturday. Costello said on Australian Broadcasting Corp TV that one of the most important discussions would center on increased oil prices, the world's energy needs and the growing demands of China and India. "How does the world satisfy these economies that there will be continuity of supply at realistic prices with no need to lockup supplies or have cartel activity which would rig those international markets?" Costello said.
■ Telecoms
Telstra offer to be increased
The Australian government said yesterday it would increase its offer of A$8 billion (US$6 billion) worth of shares in telco giant Telstra after a late rush for the stock. The spike in interest from the so-called "mom and dad" investors meant the government would do more than meet its target of selling 2.15 billion shares -- a third of its 51.8 percent stake, Finance Minister Nick Minchin said. A total of 320,000 applications for some 1.3 billion shares had been received from retail investors, easily surpassing the government's original sale target. The strong level of support from ordinary retail investors "sets the scene for a successful institutional offer to be conducted this week, with final pricing and allocation to take place next weekend," Minchin said.
■ China
Competition law urged
China will expedite the passing of a proposed anti-monopoly law to keep overseas capital from controlling businesses critical to its security, the National Development and Reform Commission said on Saturday. The country will also gradually reduce tax exemptions given to overseas firms and seek to prevent tax evasion by foreign companies, the nation's leading economic planning body said in a statement supplementing its 11th five-year plan for foreign investment, released last Thursday.
NATIONAL SECURITY: The Chinese influencer shared multiple videos on social media in which she claimed Taiwan is a part of China and supported its annexation Freedom of speech does not allow comments by Chinese residents in Taiwan that compromise national security or social stability, the nation’s top officials said yesterday, after the National Immigration Agency (NIA) revoked the residency permit of a Chinese influencer who published videos advocating China annexing Taiwan by force. Taiwan welcomes all foreigners to settle here and make families so long as they “love the land and people of Taiwan,” Premier Cho Jung-tai (卓榮泰) told lawmakers during a plenary session at the Legislative Yuan in Taipei. The public power of the government must be asserted when necessary and the Ministry of
Proposed amendments would forbid the use of all personal electronic devices during school hours in high schools and below, starting from the next school year in August, the Ministry of Education said on Monday. The Regulations on the Use of Mobile Devices at Educational Facilities up to High Schools (高級中等以下學校校園行動載具使用原則) state that mobile devices — defined as mobile phones, laptops, tablets, smartwatches or other wearables — should be turned off at school. The changes would stipulate that use of such devices during class is forbidden, and the devices should be handed to a teacher or the school for safekeeping. The amendments also say
CONSISTENT COMMITMENT: The American Institute in Taiwan director said that the US would expand investment and trade relationships to make both nations more prosperous The US would not abandon its commitment to Taiwan, and would make Taiwan safer, stronger and more prosperous, American Institute in Taiwan Director Raymond Greene said. “The US’ commitment to Taiwan has been consistent over many administrations and over many years, and we will not abandon our commitment to Taiwan, including our opposition to any attempt to use force or coercion to change Taiwan’s status,” he said in an exclusive interview with the Liberty Times (the sister newspaper of the Taipei Times) on Friday last week, which was published in the Chinese-language newspaper yesterday. The US would double down on its efforts
EMBRACING TAIWAN: US lawmakers have introduced an act aiming to replace the use of ‘Chinese Taipei’ with ‘Taiwan’ across all Washington’s federal agencies A group of US House of Representatives lawmakers has introduced legislation to replace the term “Chinese Taipei” with “Taiwan” across all federal agencies. US Representative Byron Donalds announced the introduction of the “America supports Taiwan act,” which would mandate federal agencies adopt “Taiwan” in place of “Chinese Taipei,” a news release on his page on the US House of Representatives’ Web site said. US representatives Mike Collins, Barry Moore and Tom Tiffany are cosponsors of the legislation, US political newspaper The Hill reported yesterday. “The legislation is a push to normalize the position of Taiwan as an autonomous country, although the official US
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