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Beijing issues new warnings on Tibet and Taiwan

China yesterday launched a new warning to other countries not to interfere in its affairs in Tibet and Taiwan.

Washington irked Beijing in January when it approved the sale of a US$6.4 billion package of arms to Taiwan, and then again a month later when US President Barack Obama met the Dalai Lama at the White House.

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KMT’s election woes continue as party suffers more defeats in council elections

The Chinese Nationalist Party (KMT) was dealt another round of setbacks at the local level yesterday after it lost a number of seats that were contested in 17 councilor speaker and vice speaker elections, while three councilors supported by the Democratic Progressive Party (DPP) were elected.

The KMT nominated 10 council speakers and eight were elected. In vice speaker elections, the party nominated eight and five were elected.

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Newsflash

Investors recoiled from risky assets yesterday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.

Stocks from Tokyo to Mumbai were haunted by suspicion of lenders’ exposure to Dubai firms that built islands in the Gulf, planned cities from Pakistan to Africa and fashioned the financial hub of the world’s biggest oil exporting region.