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Fears spread through world markets over Dubai debt

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.

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Taiwan Thinktank urges FTAs before China ECFA

The Taiwan Thinktank yesterday urged the government to postpone the implementation of an economic cooperation framework agreement (ECFA) it wants to sign with Beijing until Taiwan signs free trade agreements (FTAs) with the US or Japan and they go into effect.

Taiwan Thinktank chairman Chen Po-chih (陳博志) said Taiwan would be better off if the ECFA were not signed, but if it is signed, it would be better to wait until after Taipei inks FTAs with Washington or Tokyo and they become effective.

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Newsflash


Ukrainian lawmakers attend a session of parliament in Kyiv on Feb. 23.
Photo: Reuters

The Chinese embassy in Ukraine attempted to thwart the Ukrainian parliament’s plan to establish a pro-Taiwan group, Newsweek magazine reported on Saturday.

Ukraine’s parliament on Aug. 17 launched the Taiwan Friendship Group, which is led by Foreign Affairs Committee Chairman Oleksandr Merezhko and consists of 15 lawmakers, two-thirds of whom belong to the ruling party.