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Taiwan News Morning Briefing – October 9

A proposal by Agriculture Minister Chen Bao-ji to try out the importation of agricultural workers is not likely to get off the ground next year as the...

A proposal by Agriculture Minister Chen Bao-ji to try out the importation of agricultural workers is not likely to get off the ground next year as the...

Market & Commodity ■ Taiwan stock market (TWSE) opened 66.13 points higher to 9021.31 on Thursday, with turnover reaching NT$1.92 billion. (Taiwan News) ■ U.S. stock market surged to its biggest gain of the year, erasing a loss from a day earlier. The Dow Jones industrial average jumped 274 points, or 1.6 percent, to 16,994 Wednesday. The Standard and Poor's 500 rose 33 points, or 1.8 percent, to 1,968. The Nasdaq composite rose 83 points, or 1.9 percent, to 4,468. (AP) World News ■ Chinese police detained a well-known poet and seven other people ahead of a poetry reading planned in Beijing to support pro-democracy protesters in Hong Kong, relatives of the detained say. (AP) ■ Japan and the United States are revising their mutual defense guidelines for the first time in nearly two decades to respond to China's military expansion and increase Japan's role in regional defense. (AP) ■ North Korea publicly acknowledges the existence of its labor camps for the first time, an admission that appears to come in response to a highly critical U.N. human rights report earlier this year. Diplomats for the reclusive, impoverished country also tell reporters that a top North Korea official has visited the headquarters of the European Union and expressed interest in dialogue expected next year. (AP) ■ South Korean police are searching for seven athletes and a reporter who went missing after the Asian Games closed on Saturday in the port city of Incheon. The whereabouts of three athletes from Nepal, two from Sri Lanka, and one each from Bangladesh and the Palestinian territories are unknown. (AP) ■ Troops trade heavy fire, the worst since 2003 cease-fire deal, between Pakistan and Indian-controlled Kashmir, killing at least four civilians and worsening tensions between the long-time rivals, officials on both sides say. (AP) ■ Americans Eric Betzig and William Moerner and German scientist Stefan Hell win the Nobel Prize in chemistry for developing new methods that let microscopes see finer details than they could before. (AP) Local News ■ Ting Hsin International, owner of prominent brand Wei Chuan Foods, was hit by the third food safety scandal in a year as a supplier was detained for mixing animal feed oil with edible oil, reports said Wednesday. On Wednesday, Cheng I Food Co., Ltd., an affiliate of Ting Hsin International, was forced to stop the sale of several of its edible oil products after Tainan prosecutors came to the conclusion that animal feed oil had been mixed in with edible lard oil. (Taiwan News) ■ Chinese leader Xi Jinping’s use of the term “One Country, Two Systems” during a meeting with Taiwanese pro-unification groups on September 26 was a warning to Taiwan not to move in the direction of independence, former top National Security Council official Su Chi said Wednesday. (Taiwan News) ■ A rise in premiums for the National Pension Insurance plan to take effect on New Year's Day 2015 is expected to affect some 3.7 million persons. The rate hike, the first in the six-year history of the plan, will raise the average monthly payment for members from NT$778 to NT$878, an increase of NT$100 per month or about 13 percent. (Taiwan News) ■ The unrelenting pressure being brought to bear by KMT legislators investigating the MG149 account at National Taiwan University Hospital (NTUH) is reportedly the result of an order from party chairman Ma Ying-jeou to set up a PK (player killer) group to carry on focused attacks related to political campaigns. (Taiwan News) ■ KMT Taipei mayoral candidate Sean Lien is still not quite free of his entanglement with Hong Kong company Golden Meditech. On Monday the TSU held a press conference in which it was alleged that trading in Golden Meditech TDRs took place after sales of the shares were halted in Hong Kong on March 24. The TSU claimed that Evenstar, a firm founded by Sean Lien and James Ting-hua Yang, was involved in the illegal trading, and Sean Lien sought to disassociate himself from the controversy Tuesday morning by claiming that he left Evenstar in January this year. (Taiwan News) ■ Ko Wen-je arrived to a spirited reception at San Francisco International Airport Wednesday for the start of a five-day trip to the US. A cheering crowd of supporters crowded the Arrivals area in the airport. The trip will include several stops in the Bay area and a quick trip to New York City. Ko will hold talks with businessmen and researchers in both areas and will also present a total of three speeches to overseas compatriots on the two coasts. (Taiwan News) ■ The Presidential Office announced Wednesday that former Vice President Vincent Siew would represent Taiwan at next month’s Asia Pacific Economic Cooperation summit, in effect acknowledging that a summit between President Ma Ying-jeou and Chinese leader Xi Jinping was no longer on the cards. (Taiwan News) ■ Dick Hsieh, the founder and chairman of suitcase maker Eminent Luggage Corporation, was under investigation for insider trading, reports said Wednesday. (Taiwan News) ■ The U.S. government on Tuesday confirmed duties on imports of non-oriented electrical steel from China, Germany, Japan, South Korea, Sweden and Taiwan after finding the goods were being sold at unreasonably low price in U.S. markets. The complaint was brought by Ohio-based AK Steel Corporation. Goods from Taiwan and China will face additional anti-subsidy duties. Among the affected Taiwanese companies are China Steel Corp. and Leicong Industrial Co. (Taiwan News)


Updated : 2021-03-01 06:27 GMT+08:00