EZ News 10/29/24

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened down 150-points this morning from yesterday's close, at 23,048 on turnover of $4.7-billion N-T. Shares in Taiwan saw initial gains eroded (侵蝕) and closed in negative territory, falling more than 150 points, Monday as the bellwether electronics sector encountered profit taking leading the broader market to move lower Analysts say ahead of the upcoming United States presidential election on Nov. 5, local investors appeared reluctant to chase prices for the moment despite gains in the early morning session with turnover staying low. Detention extended for city councilor The Taipei District Court on Monday approved an extension of detention for Taipei City Councilor Ying Hsiao-wei, while the Taiwan High Court rejected real estate tycoon Sheen Ching-jing's appeal to have his detention ended. The two individuals are both in custody as part of an alleged corruption case, known as the "Core Pacific City Case," that has embroiled (捲入其中) TPP leader Ko Wen-je. Ying, of the opposition KMT, is accused of acting as a go-between between Sheen and high-ranking city government officials in the construction project, including then-Taipei City Mayor Ko. Sheen, founder and chairman of the Core Pacific Group, is alleged to have bribed Taipei city officials to illegally increase the floor area ratio f a site formerly occupied by Core Pacific City, in order to raise the property's financial value. Ying is to be held incommunicado for two more months as of Oct. 29, as ruled by the Taipei District Court. Sheen's attorney applied for the suspension of his detention, citing his poor health, a request that has now be rejected for the second time by the High Court. NATO confirms North Korean forces in Russia’s Kursk NATO's Secretary-General has confirmed that North Korean forces are in the Russian territory of Kursk. That region is partially (部分地) controlled by Ukraine signaling that they are now or soon to be in direct combat. William Denselow reports from Brussels where NATO is headquartered. Israel Passes Laws Restricting UN Aid Agency Israel’s parliament has passed two laws that severely restrict the U.N. agency responsible for distributing aid in Gaza. The first bill passed Monday bans the U.N. agency for Palestinian refugees, or UNRWA, from conducting “any activity” or providing any service inside Israel. The second cuts ties with the main U.N. provider of aid to Gaza and designates (指定) it a terror organization. The votes followed a fiery debate between supporters of the laws and its opponents, mostly members of Arab parliamentary parties. Brazil Fines Meatpacking Companies and Suppliers Brazil's environmental agency levied $64 million in fines against 23 meatpacking and their suppliers companies for buying and selling cattle raised illegally on deforested land in the Amazon. The operation tracked 18-thousand head of cattle raised in 260 square kilometers of pasture that was under embargo (禁運) due to illegal deforestation. The companies targeted included JBS, the largest meatpacking company in the world. Cattle raising is the Amazon’s main deforestation driver, with 90% of the total cleared area converted to pasture. That represents an area of 590-thousand square kilometers, slightly larger than France. That was the I.C.R.T. EZ News, I'm _____. -- Hosting provided by SoundOn