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Taiwan News Morning Briefing - May 19

Bui Trong Van, head of the Vietnam Economic and Cultural Office in Taipei, expressed "deep regret and apologies" to the investors on behalf of his gov...

Bui Trong Van, head of the Vietnam Economic and Cultural Office in Taipei, expressed "deep regret and apologies" to the investors on behalf of his gov...

Market & Commodity ■ Taiwan stock market (TWSE) opened up 13.09 points, or 0.15 percent, on Monday's session at 8901.54, on turnover of NT$142 billion. ■ U.S. stock market ended slightly higher on Friday after moving between small losses and gains for most of the day. The Dow Jones industrial average rose 44 points, or 0.3 percent, to close at 16,491 Friday. The Standard & Poor's 500 index gained seven points, or 0.4 percent, to end at 1,877. The Nasdaq composite index rose 21 points, or 0.5 percent, to 4,090. World News ■ In the capital city of Hanoi, where reports of movements against the Chinese embassy were feared and embassy personnel had largely been withdrawn, the small number of demonstrators who turned up were quickly dispelled by police. Traffic throughout the city returned to normal shortly thereafter as police stepped up patrols throughout the city. Vietnamese Prime Minister Nguyen Tan Dung broadcast SMS messages calling on Vietnamese to put an end to illegal protests that have led to social unrest and security problems throughout much of the country. (Taiwan News) ■ China has evacuated more than 3,000 of its citizens from Vietnam and is sending ships to retrieve more of them after deadly anti-Chinese violence erupted last week over a territorial dispute between the two countries. Five Chinese ships will travel to Vietnam to help with the evacuation, the official Chinese news agency Xinhua reported Sunday, according to the CNN. ■ Chinese authorities detain a human rights lawyer in an ongoing clampdown on journalists, scholars and lawyers ahead of the June 4 anniversary of the 1989 military crackdown on pro-democracy protests. Police took Tang Jingling away from his home in the southern city of Guangzhou. (AP) ■ Leaders from five African nations are gathering in Paris for a summit with officials from the U.S., France and Britain in hopes of coordinating a strategy against Boko Haram, the Islamic extremist group that abducted more than 300 Nigerian girls.France, which has negotiated freedom for a priest and a French family abducted by Boko Haram, has called Saturday's summit to share intelligence and work to find the kidnapped girls. (AP) ■ Cisco Systems Inc's chief executive officer has written a letter to President Barack Obama urging him to curtail government surveillance after evidence circulated showing the National Security Agency had intercepted Cisco equipment, according to Reuters. Local News ■ The election for the chair of the DPP takes place May 25, and on Sunday the two candidates for the position took to the airwaves to lay out their plans for the future of the party. Tsai Ing-wen started off by saying that Taiwan and China need to focus more on quality and less on quantity in pursuing closer relations. Tsai charged that the DPP must find ways to allow the younger generation to participate in its decision-making processes. (Taiwan News) ■ President Ma Ying-jeou ordered elements in the government to heighten awareness and put units on alert to make resources available on short notice if necessary to support Taiwanese businesses and citizens in Vietnam. The Ministry of Foreign Affairs set up 13 shelters for Taiwanese nations around the country. (Taiwan News) ■ Kung Chung-cheng, the ROC Consul General in Vietnam, told reporters Sunday that the Vietnamese government had taken steps to ban large-scale demonstrations, effectively stifling much of the protest fever. Despite the relative calm, personnel in Foreign Ministry and other offices in Vietnam are still on the alert in case the situation should change dramatically, said Kung. (Taiwan News) ■ More Taiwanese businessmen and their families returned home from Vietnam Saturday ahead of expected mass anti-Chinese demonstrations. A man identified only by his surname Chen, who runs an air and sea shipping company in Vietnam, said he was fleeing Vietnam with his two children for fear that Sunday's demonstrations might spiral out of control, although the Vietnamese government has forbidden any violence during the protests. (Taiwan News) ■ Hon Hai Precision Industry Co., which manufactures iPhones for Apple Inc., announced Friday that for security reasons, workers at its factory in Vietnam will be given three days off work starting the following day. (Taiwan News) ■ Vietnam's chief envoy to Taiwan apologized Sunday, on behalf of his government, to the Taiwanese businesses that suffered losses as a result of the anti-China protests in his country and said his government is considering offering tax cuts and other forms of compensation to those enterprises. (CNA) ■ Taiwan's e-commerce market will soar over the next few years, as the online shopping sector here is developing rapidly, in line with global trends, the Institute for Information Industry said Saturday. Growing at an annual rate of some 20 percent, revenue from Taiwan's e-commerce transactions reached NT$767.3 billion in 2013, and is expected to exceed NT$1 trillion by 2015. (Taiwan News) ■ Taiwan's Legislature passed an amendment to a law on Friday that was aimed at increasing maternity benefits for insured workers. Under the revised Labor Insurance Act, the childbirth subsidy for an insured worker, or the spouse of an insured employee, was raised from a sum equivalent to 30 days salary, to that of 60 days. (CNA) ■ The Legislative Yuan on Friday approved several tax reform measures aimed at narrowing Taiwan's rich-poor divide that could increase tax revenues by an estimated NT$65 billion a year. Amendments to the Income Tax Act passed Friday give average taxpayers a break by allowing them to claim higher deductions that will reduce the amount of their income subject to being taxed. The standard deduction is being increased from NT$79,000 to NT$90,000 for single taxpayers and from NT$158,000 to NT$180,000 for married couples. (CNA) ■ Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chip maker, is planning to start mass production of chips on its new 16-nanometer (nm) FinFET process next year. In its annual report for 2013, the company said the production of 16-nm FinFET chips will come on stream one year after it begins mass production of its 20-nm planar technology in 2014. (CNA) ■ The U.S. Department of Commerce (DOC) said that it has set preliminary anti-dumping duties on Taiwanese non-oriented electrical steel (NOES) makers as imports of their products have caused substantial damage to the U.S. steel market. Leicong Industrial Co.was ordered to pay an anti-dumping tariff of 52.23 percent. (CNA)


Updated : 2021-04-19 09:00 GMT+08:00