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Taiwan News Morning Briefing – March 24

Diamond Cafe, a newly opened restaurant in high-rent eastern Taipei catering specifically to families with children, sparked controversy on Monday wit...

Diamond Cafe, a newly opened restaurant in high-rent eastern Taipei catering specifically to families with children, sparked controversy on Monday wit...

Market & Commodity ■ The Taiwan Stock Exchange’s (TWSE) main index opened 3.86 points lower to 9,754.23 on Tuesday, with turnover reaching NT$3.11 billion. (Taiwan News) ■ A late turn pulled the stock market to a loss on Monday, as major indexes wavered following a strong run last week. The S&P 500 fell 3.68 points, or 0.2 percent, to close at 2,104.42. The Dow Jones industrial average lost 11.61 points, or 0.1 percent, to 18,116.04 while the Nasdaq composite slipped 15.44 points, or 0.3 percent, to 5,010.97. (AP) World News ■ Lee Kuan Yew, the founder of modern Singapore who was both feared for his authoritarian tactics and admired worldwide for turning the city-state into one of the world's richest nations while in power for 31 years, dies at age 91. (AP) ■ Chinese leaders admired modern Singapore's founder Lee Kuan Yew for his toughness, economic pragmatism and insistence on respect for authority. In many ways, Lee's model of "Asian values," combining authoritarianism and economic planning, became China's own blueprint for modernity. (AP) ■ China's biggest state-owned chemical company announces plans to acquire Italian tire manufacturer Pirelli, adding to a string of high-profile Chinese corporate purchases in Europe. (AP) ■ The governor of the southern Japanese island of Okinawa orders the Defense Ministry to suspend all work at the site where a key U.S. military air base is to be relocated, in a growing confrontation between the island and the central government. (AP) Local News ■ Taichung Mayor Lin Chia-lung shied away from calling the city’s Bus Rapid Transit (BRT) system a true BRT, saying that Taichung’s BRT “has not been born yet.” Lin noted that a team he put in place shortly after taking office is working to ferret out problems in the system and he will offer a comprehensive plan to the public within the next few months. (Taiwan News) ■ Voices in the KMT are becoming more strident as the party still has not taken any substantive steps toward finding a nominee for the 2016 presidential election, which is now less than a year away. Various groups in the party are calling for Legislative Yuan Speaker Wang Jin-pyng to step forward and take up the challenge while others support KMT Chairman Eric Liluan Chu as the most logical candidate. (Taiwan News) ■ The Black Island Nation Front commemorated the attempt to occupy the Executive Yuan last year with events on Qingdao East Road in Taipei Sunday and Monday. The action came days after activities marking the first anniversary of the occupation of the Legislative Yuan on March 18 and includes a March 18th Photo Exhibition, a 31-hour sit-in and a march titled "Walking to a place with no light." (Taiwan News) ■ The savings of a 29-year-old Vietnamese woman in Hualien being drawn into by an Internet scam were saved by an alert store clerk who warned the woman before she suffered even greater losses. (Taiwan News) ■ Taiwan's industrial production for February shrank month-on-month because of the decreased number of workdays due to the Lunar New Year holiday, the Ministry of Economic Affairs (MOEA) said Monday. In February, the industrial production index dropped 16.26 percent from the previous month to 91.21, the MOEA cited statistics as showing. (CNA) ■ Taiwan's manufacturing industry is facing a significant shortage of workers, even though some factories are offering monthly salaries of NT$40,000 (US$1,275) for technicians, the Workforce Development Agency reported Monday after compiling data from a local employment website. (CNA)


Updated : 2021-05-17 10:02 GMT+08:00