Poland's competition authority approved the merger Thursday of the Polish subsidiary of troubled US accountancy firm Arthur Andersen with the local office of rival Ernst and Young. "We approved the merger of the Polish subsidiaries of Andersen and Ernst and Young. After the merger they will control 23 percent of the audit market, so there is no fear of a monopoly emerging," Competition and Consumer Protection Office spokeswoman Alina Urban was quoted as saying by PAP news agency. The merged company will operate under the name Ernst and Young and should have an annual turnover of US$100 million, executives said when announcing merger plans in April. Arthur Andersen was convicted by a US federal jury last month of obstruction of justice in connection with spectacular bankruptcy last year of energy trader Enron.
PEACE AT LAST? UN experts had warned of threats and attacks ahead of the voting, but after a turbulent period, Bangladesh has seemingly reacted to the result with calm The Bangladesh Nationalist Party (BNP) yesterday celebrated a landslide victory in the first elections held since a deadly 2024 uprising, with party leader Tarique Rahman to become prime minister. Bangladesh Election Commission figures showed that the BNP alliance had won 212 seats, compared with 77 for the Islamist-led Jamaat-e-Islami alliance. The US embassy congratulated Rahman and the BNP for a “historic victory,” while India praised Rahman’s “decisive win” in a significant step after recent rocky relations with Bangladesh. China and Pakistan, which grew closer to Bangladesh since the uprising and the souring of ties with India, where ousted Bangladeshi prime minister Sheikh Hasina
FAST-TRACK: The deal is to be sent to the legislature, but time is of the essence, as Trump had raised tariffs on Seoul when it failed to quickly ratify a similar pact Taiwan and the US on Thursday signed a trade agreement that caps US tariffs on Taiwanese goods at 15 percent and provides preferential market access for US industrial and agricultural exports, including cars, and beef and pork products. The Taiwan-US Agreement on Reciprocal Trade confirms a 15 percent US tariff for Taiwanese goods, and grants Taiwanese semiconductors and related products the most-favorable-treatment under Section 232 of the Trade Expansion Act, the Executive Yuan said. In addition, 2,072 items — representing nearly 20 percent of Taiwan’s total exports to the US — would be exempt from additional tariffs and be subject only to
The Taiwan Space Agency (TASA) yesterday released the first images from its Formosat-8A satellite, featuring high-resolution views of Hsinchu Science Park (新竹科學園區), Tainan’s Anping District (安平), Kaohsiung’s Singda Harbor (興達港), Japan’s National Stadium in Tokyo and Barcelona airport. Formosat-8A, named the “Chi Po-lin Satellite” after the late Taiwanese documentary filmmaker Chi Po-lin (齊柏林), was launched on Nov. 29 last year. It is designed to capture images at a 1m resolution, which can be sharpened to 0.7m after processing, surpassing the capabilities of its predecessor, Formosat-5, the agency said. It is the first of TASA’s eight-satellite Formosat-8 constellation to be sent into orbit and
President William Lai (賴清德) yesterday approved a special pardon exempting a woman in her 80s convicted of killing her disabled son from imprisonment. After carefully reviewing the case, Lai pardoned Lin Liu Lung-tzu (林劉龍子) from the prison sentence while acknowledging her conviction, citing the extreme circumstances she faced, Presidential Office spokeswoman Karen Kuo (郭雅慧) said in a statement. Under Article 3 of the Amnesty Act (赦免法), the two kinds of pardons are exempting an offender from the execution of a punishment or declaring the punishment to be invalid. Kuo said Lin Liu had spent more than 50 years caring for her son, before
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