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Taiwan News Morning Briefing - May 8
Taiwan News
2014-05-08 09:14 AM
Market & Commodity

■ Taiwan stock market (TWSE) opened 31.99 points, or 0.43 percent, higher on Thursday at 8925.21.

■ U.S. stock market ended mostly higher even as several Internet companies including AOL and Groupon take a plunge on Wednesday. The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to close at 1,878. The Dow Jones industrial average rose 117 points, or 0.7 percent, to 16,518. The Nasdaq composite lost 13 points, or 0.3 percent, to 4,067. Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.59 percent. (AP)

World News

■ Thailand's prime minister was forced to resign Wednesday after the Constitutional Court found her guilty in an abuse of power case, pushing the country deeper into political turmoil. Prime Minister Yingluck Shinawatra was charged with abusing her authority by transferring a senior civil servant in 2011 to another position. The court ruled that the transfer was carried out with a "hidden agenda" to benefit her politically powerful family; she has denied. (AP)

China said Wednesday it had lost contact with 11 fishermen allegedly taken away by armed men in disputed South China Sea waters. (AP)

■ US military and law enforcement teams to help Nigeria in search for kidnapped schoolgirls, says 'time is of the essence' (AP)

■ Due to recent attacks against Western interests in Yemen, the U. S. announced that it has suspended public services at its embassy in Sanaa, Yemen, on Wednesday, according to CNN.

■ After 61 days and no tangible evidence, officials from Malaysia, China and Australia will hunker down Wednesday to plot the next steps in the hunt for MH370. They will review all the information gathered so far and figure out what tools will be needed in the next stage of the search.

Local News

■ PFP Chairman James Soong and CPC General Secretary Xi Jinping met Wednesday morning in a quiet but cordial exchange in which each expressed the hopes of his side for the future of cross-strait relations. While Xi was resolute in holding to China’s “Four No’s” policy regarding relations between the two sides. Soong departed Taoyuan International Airport Tuesday night for a four-day visit to China with meetings scheduled for Xi; Yu Zhengsheng, Chairman of the CPC Central Committee; and Zhang Zhijun, Director of China's Taiwan Affairs Office (TAO). (Taiwan News)

■ The basic minimum wage could be adapted differently by region, Labor Minister Pan Shih-wei said Wednesday, with a rise more likely in the north than in the south. Labor groups have repeatedly accused the administration of President Ma Ying-jeou of doing nothing about the widening gap between rich and poor and of favoring Big Business over the average citizen, while salaries have fallen back to levels not seen in more than 16 years. (Taiwan News)

■ Chosen with an eye to the principles of gender and generation equality, the list of nominees for the Examination Yuan and Control Yuan brings a slight shift in the make-up of two of the five branches of the government. The addition of eight women brings the total of women in the two yuan to 20, and with the exception of the presidents and vice-presidents, all members are under the age of 67. (Taiwan News)

■ Opinion polls to be conducted next Tuesday May 13 will choose which one of four Democratic Progressive Party members will go to a second round to select a Taipei mayoral candidate, the party decided Wednesday. Former Vice President Annette Lu, attorney Wellington Koo and legislators Yao Wen-chih and Hsu Tain-tsair want to become the DPP candidate in the November 29 mayoral election. (Taiwan News)

■ The Taiwan Power Corporation has reopened discussions with China about the handling of nuclear waste while an uninhabited island could be considered for its storage, Economics Minister Chang Chia-juch said Wednesday. A significant portion of the radioactive waste from the country’s three operating nuclear power plants has been stored on Orchid Island, a small island inhabited by indigenous people off Taitung County. (Taiwan News)

■ Finance Minister Chang Sheng-ford revealed figures Wednesday that indicate the soaring home prices of the greater Taipei area may have finally begun to dip. (CNA)

■ A group was established in Taipei Wednesday to lobby for greater lesbian, gay, bisexual and transgender (LGBT) rights in Taiwan, especially the passage of a same-sex marriage bill that is currently in the legislative process. (CNA)

■ The Mainland Affairs Council (MAC) issued a level-2 travel alert for Sichuan Province in China Wednesday after the southwestern province reported the world's first recorded human infection of H5N6 avian flu. Travelers to the area should stay alert and pay attention to personal hygiene. (CNA)

■ Taiwan's exports posted solid growth in April from a year earlier on sizable increases in overseas sales of electronic products and chemicals, according to statistics released by the Ministry of Finance (MOF) on Wednesday. Exports rose 6.2 percent year-on-year to US$26.60 billion in April. (CNA)

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