EZ News 05/18/23

Good afternoon, I'm _____ with today's episode of EZ News. **Tai-Ex opening ** The Tai-Ex opened up 134-points this morning from yesterday's close, at 16,060 on turnover of 4.9-billion N-T. The market moved sharply higher on Wednesday - jumping 1.6-per cent - as Taiwan Semiconductor Manufacturing extended its gains from the previous session to lift other I-C stocks throughout the trading day. Buying also spread to old economy heavyweights in the auto and petrochemical sectors - giving an additional boost to the broader market. **MOL Warns Subsidies 'Only Way to Stabilize Labor Insurance Fund' ** Deputy Labor Minister Lee Chun-yi is warning that continued government subsidies are currently the "only way" to stabilize (穩定) the Labor Insurance Fund. According to Lee, subsidies are the only way to ensure the fund's sustainability due to a lack of consensus over how to proceed with the next stage of the government's pension reform. Speaking at a legislative hearing, Lee told lawmakers he believes the issue must be approached with caution as it involves 10-million workers and 600,000-employers, but so far, "the parties involved are still a long way from a consensus." The Cabinet has injected 147-billion N-T to stabilize the fund since 2020 and has earmarked 100-billion N-T in subsidies for the fund for next year. **Pre-Sales of New Regional Public Transport Pass Begins Today ** A commemorative stored-value card for two monthly public transport pass programs will be available for pre-sale from today One of the passes covers Taipei-New Taipei-Taoyuan and Keelung while the other is for Taichung-Changhua-Nantou and Miaoli. The "TPass" is going on pre-sale for 100 from 11AM today at branches of 7-Eleven, FamilyMart, OK Mart and Hi-Life. The cards will be available for pickup on June 15. Those not wishing to purchase the commemorative "TPass" will be able to use their regular EasyCards to register for the new monthly pass program after that date. The regional public transport pass program is currently slated to be (定為) launched at the beginning of July. **Pakistan Police Surround Khan Home ** Police have surrounded the home of former Pakistan’s former Prime Minister Imran Khan, claiming he is sheltering dozens of people who were allegedly involved in violent protests over his recent detention. Wednesday's police deployment raised concerns about possible new clashes (衝突) between them and the security forces. Last week, Khan supporters attacked public property and military installations after he was dragged out of a courtroom and detained. Ten people were killed in the violence, and more than 4,000 were arrested. The popular opposition leader was released over the weekend and returned to his home in Lahore. Human rights groups say they are alarmed by government plans to try those suspected of involvement in the protests in military courts. **G7 Leaders Arriving in Japan for Summit ** World leaders are arriving in Japan for the G7 summit being held in Hiroshima this week. The three day talks are expected to address global security and financial challenges, including enhancing (增加；增強) sanctions on Russia and reducing economic reliance with China. Chris Gilbert reports from Tokyo. That was the I.C.R.T. news, Check in again tomorrow for our simplified version of the news, uploaded every day in the afternoon. Enjoy the rest of your day, I'm _____. -- Hosting provided by SoundOn