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MND censured over munitions sales

The Ministry of National Defense (MND) was reprimanded by the Control Yuan yesterday amid an investigation into whether expired munitions were illegally sold to militant groups in the Middle East and Africa.

Speculation about such sales emerged in January after a report by the Chinese-language Next Magazine that there was evidence more than 1,800 tonnes of ammunition, which had supposedly been destroyed, was re-sold by a government contractor to Romanian officials last year.

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US committed to Taiwan, US official says

US Deputy Secretary of State James Steinberg told a major conference on US-China relations that Washington retains a “very strong commitment” to Taiwan.

While acknowledging that US ties with Beijing were improving, he said: “There is a very strong commitment and appreciation for the tremendous achievements that the people of Taiwan have accomplished both in the economic and especially in the political sphere.”

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Newsflash

A Taiwanese businessman investing in China was shocked when he found that a 50 million yuan (US$8 million) loan he applied for from the China Construction Bank (CCB) more than a year ago actually went into a unrelated business in China and was used as collateral for another 90 million yuan loan.

The 73-year-old Chen Hsi-so (陳細鎖) said that on the recommendation of a friend, he opened a lime absorbent plant in Wuping District, Longyan, in China’s Fujian Province last year, and applied for a 50 million yuan loan from CCB’s branch in Wuping.