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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


Peter Wang, left, and Chilly Chen, 908 Taiwan Republic Campaign convener and deputy secretary-general respectively, stand below a message that they wrote on the wall of the old Taipei City Council building denouncing former vice president Lien Chan as a traitor.
Photo: Liao Chen-huei, Taipei Times

Former vice president Annette Lu (呂秀蓮) and a lawmaker yesterday filed separate charges of treason against former vice president Lien Chan (連戰), accusing him of breaching national security by attending a Chinese military parade marking the end of World War II in Beijing on Thursday.