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Chen denies flying money overseas

Former president Chen Shui-bian’s (陳水扁) office yesterday issued a statement denying allegations that Chen had taken advantage of his overseas trips to transport cash abroad.

The statement came in response to a story published by the Chinese-language China Times yesterday that quoted Palauan President Johnson Toribiong as saying that an unidentified wire of NT$1.4 billion (US$40 million) was routed through Palau’s Pacific Savings Bank in 2005 to the US and other countries.

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US beef arriving in a week's time: official

The first batch of US beef exports under a relaxed ban is likely to arrive in Taiwan within a week after the US Department of Agriculture (USDA) issued Quality System Assessment (QSA) certificates to qualified suppliers, a Ministry of Economic Affairs official said yesterday.

While the new QSA regulations stipulate that both boneless and bone-in beef from cattle less than 30 months of age slaughtered on or after Nov. 2 can be exported to Taiwan, only boneless beef from cattle slaughtered before that date can be exported to Taiwan.

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Newsflash

Economist Derek Scissors is urging Taiwan to diversify its international investment portfolio and seek a bilateral investment treaty with the US.

Scissors, a research fellow with the Asian Studies Center at the Washington-based Heritage Foundation, says that the US and Taiwan have an extraordinarily intense trading relationship.

With a population of 23 million, Taiwan is the US’ ninth-largest trading partner. However, excluding the microstates, it is actually the US’ third-largest trading nation on a “per person” basis.