Category: Taiwan

Taiwan issues 72-hour ultimatum over fisherman’s death

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72 HOURS:The government will freeze Filipino workers’ applications and recall its envoy if Manila fails to respond to Taiwan’s demand for a formal apology and arrest of the suspect in a fisherman’s death

By Mo Yan-chih / Staff reporter
Taipei Times

The administration of President Ma Ying-jeou (馬英九) yesterday gave the Philippines 72 hours to arrest those responsible for the death of a Taiwanese fisherman, issue a formal apology and compensate the victim’s family.

If Manila failed to respond to these demands within 72 hours, the government will freeze Philippine worker applications, recall the Republic of China (ROC) representative in Manila and ask the Philippine representative to return to Manila to help in the investigation, Presidential Office spokesperson Lee Chia-fei (李佳霏) told a news conference last night following a national security meeting presided over by Ma.

The 72-hour deadline started from “12am on May 12,” Lee said.

The meeting, attended by top officials including Minister of Foreign Affairs David Lin (林永樂) and Minister of National Defense Kao Hua-chu (高華柱), lasted about two hours from 7pm to 9pm in the Presidential Office.

The incident took place on Thursday, when a Philippine Coast Guard vessel opened fire on the Pingtung-based fishing boat Kuang Ta Hsing No. 28 in waters 164 nautical miles (304km) southeast of Taiwan’s southernmost tip, killing 65-year-old Taiwanese fisherman Hung Shih-cheng (洪石成).

The boat was fishing in waters in which the exclusive economic zones of Taiwan and the Philippines overlap.

“The Philippine government’s attitude is outrageous and unacceptable,” Ma said earlier yesterday while inspecting a coastguard drill at Taichung Harbor.

He also instructed the Coast Guard Administration to dispatch ships to the exclusive economic zone and increase patrols over territorial waters to protect Taiwanese fishermen.

“The Philippines shot at an unarmed fishing boat. This violates international safety regulations. Firing 40 to 50 shots at the boat is brutal and cold-blooded,” the president said.

The Ma administration has come under pressure from the public and lawmakers across party lines to take a tougher stand on the incident.

Taipei Mayor Hau Lung-bin (郝龍斌) yesterday also urged the Ma administration to initiate action against Manila, such as suspending all exchanges with the Philippines and banning the recruitment of Filipino workers.

He also proposed sending naval ships and extending their patrol scope beyond the exclusive economic zone to better protect Taiwanese fishermen.

“Only by doing this can we better protect our fishermen’s rights and defend our national dignity. We should take a hardline approach in handling this incident,” he said at Taipei City Hall.

Hau added that the Taipei City Government would retract its invitation to the Philippines to attend the Dragon Boat Festival next month.

“The Taipei City Government stands behind Taiwanese fishermen. Unless the Philippine government brings the killers to justice and compensates [the victim’s family], we will stop inviting the [Philippines’] dragon boat team to this year’s festival,” he said.

Taipei will also suspend all exchanges with Manila and Quezon City — both sister cities of Taipei — as well as the city government’s plan to donate two ambulances to the Philippines.

The Philippines has sent dragon boat teams to compete in the city’s annual dragon boat race for the past two years. Taipei City’s Department of Sports said it would cancel this year’s invitation tomorrow.

New Taipei City (新北市) Mayor Eric Chu (朱立倫) also condemned the shooting and said that the city would suspend exchanges with Manila until the Philippine government offers an apology, compensate the victim’s family and apprehends the perpetrators.

http://www.taipeitimes.com/News/front/archives/2013/05/12/2003562050

Citi Fin-Q Survey Reports Filipinos More Money-Wise

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More and more Filipinos now understand the value of budgeting and planning for their retirement, and claim building their savings has become a personal priority, says Citi Philippines as it announced the latest results of its annual Citi Fin-Q survey.

The country’s largest foreign bank has been running an online poll since 2007 to measure the Fin-Q or Financial Quotient of Filipino consumers.  All respondents were over 18 years of age with either a bank account or a major credit card.

For the second straight year, Filipinos passed the 50-point mark, and scored a record high of 53 out of a possible 100 points.  The improved score was driven by increased awareness among respondents of the importance of planning personal finances, ownership of several financial products such as investments and insurance, and a general optimism on their financial future.

In this latest survey, respondents were scored on 11 different questions closely related to financial well-being for a maximum possible score of 100. The questionnaire consisted of over 80 questions and covered a range of topics related to making smart financial decisions and having good financial habits.

Citi conducted the survey through research firm Big Picture Qual and Quant Research in late 2012, and results were released this year. The survey covered 3,500 online respondents across seven countries including the Philippines. Five hundred interviews were held in each of the participating countries that include Australia, India, Indonesia, Korea, Singapore and Taiwan.

Preparing for the future

Proving that Filipinos are now more conscious about planning their finances, more than 9 out of 10 said they create a budget on a monthly basis, and 65% acknowledged the importance of sticking to their budget.

In preparing for their future, Filipinos seem to be right on track as well. In fact, it was a record year in terms of their confidence in their insurance coverage, with nearly 8 out of 10 saying they own insurance products or enjoy income protection.

As they prepare for retirement, a total of 63% said they are on track with their retirement savings or had already started to set aside some savings for it.

Committed to financial education

Since launching the survey in 2007, Citi has been focused on helping consumers understand the importance of planning their financial future and guiding them in achieving their financial goals. Citi Country Officer Sanjiv Vohra says, “Citi is always on the lookout for opportunities to reach out to a wide range of audiences and go beyond our client base to promote financial literacy. When consumers are engaged in discussions on saving, budgeting and investing, it raises awareness on the importance of being able to make smart financial decisions for their future.”

Citi had such an opportunity in December when it hosted the 2012 Citi-FT Financial Education Summit here in Manila, a regional conference that drew some 300 delegates from over 30 countries to address the urgent need to bridge the financial capability gap here in Asia.

This and the other efforts of Citi seem to be paying off. According to the survey, building their savings tops the financial concerns of Filipinos. It was also revealed that six out of 10 said they know a fair bit or know exactly their current net worth.

Optimism also up in Asia

Across Asia Pacific, the average Citi Fin-Q score is also above the 50-point mark at 53.2 points. Optimism was also at a high with 67% saying they are somewhat or very optimistic about their financial futures.

When it comes to building their savings, 44% said they set aside or save some money every time they get paid. Armed with foresight, 63% reported that they knew how much they would need in retirement and were on track, and 57 % believe they have enough insurance to protect them and their families.

“Apart from the encouraging results of this latest survey, we are also seeing how Filipinos are taking a more active role in managing their finances and planning their future. Citi is proud to take part in this initiative and we hope to continue the conversation with consumers through more financial literacy programs this year,” added Vohra.

Apart from the Citi Fin-Q Survey and the recently concluded 9th Citi-FT Financial Education Summit, Citi is also known for having the longest-running credit education campaign, Use Credit Wisely (www.usecreditwisely.citibank.com.ph).