Taiwan president vows to boost island's defence budget as China threats rise
Taipei (AP/PTI): Taiwanese President Lai Ching-te pledged to strengthen the island's defences in the face of escalating Chinese threats, saying in a New Year's address on Wednesday that Taiwan was a crucial part of the “line of defence of democracy” globally.
China claims Taiwan, a self-ruled democracy, is part of its territory and has vowed to annex the island by force if necessary.
“Authoritarian countries such as China, Russia, North Korea and Iran are still collaborating to threaten the international order that is based on rules. This has severely influenced the Indo-Pacific region and the world's peace and stability,” Lai said in his address.
Beijing has used a variety of tactics in recent years to increase pressure on Taiwan, from sending warships and fighter jets toward the island on a near-daily basis to pressuring Taiwan's diplomatic allies to switch their recognition to China.
In response, Taiwan has been reforming its military and buying weapons from the United States, its biggest unofficial ally.
“Taiwan must be prepared for danger in times of peace. It must keep increasing the national defence budget to strengthen its defence capabilities in order to show the determination to defend the country. Every single person has the duty to protect Taiwan's democracy and security," Lai said.
Lai also issued a warning about the need to uphold democracy domestically, addressing recent political controversies in Taiwan.
The Kuomingtang-led opposition passed three bills last month after legislators got into a physical tussle over them. The bills are designed to make recall votes for politicians more difficult and change the budget allocation for the central government. Critics said another of the bills would paralyse the Constitutional Court.
Lai's party has said the bills, which still need to be accepted by the executive branch, are a threat to democracy.
“Domestic competition among political parties is a part of democracy. But domestic political disputes must be resolved democratically, within the constitutional system. This is the only way democracy can continue to grow," Lai said.
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Three company directors held in Rs 100-crore investment fraud in Kochi
Kochi (Kerala) (PTI): Police on Sunday arrested three directors of a firm accused of cheating hundreds of investors of over Rs 100 crore through a fake investment scheme linked to agricultural tourism here, officials said.
The accused were identified as Muraleedharan, Ashik Murali and Akhil Murali, all natives of Thrissur.
The arrests were made by the Kalamassery police in connection with a fraud involving ATCOS (Agri Tourism Cooperative Society), a firm headquartered at Pathadipalam here.
Police said the company had promised high returns by collecting investments from the public in the agricultural tourism sector, but allegedly cheated hundreds of people and fled with the money.
ATCOS was registered under the Multi-State Cooperative Societies Act and operated 13 branches across various districts in Kerala, besides a branch in Coimbatore in Tamil Nadu, officials said.
When investors failed to receive their promised returns or the invested amount, complaints were filed with the police.
Officials said around 54 cases have been registered against the firm in 32 police stations across the state, including 29 cases at the Kalamassery police station alone.
Following instructions from Kochi City Police Commissioner K S Mahesh Kumar, a special investigation team was formed under the supervision of Deputy Commissioner of Police (Law and Order) Shehensha and Thrikkakara ACP Manoj Kumar.
The team traced the accused to an apartment in Amala Nagar in Thrissur, where they had been hiding after secretly renting the flat, officials said.
The bank accounts of the accused have been frozen, and steps have been initiated to trace their assets, officials said.
Police also conducted a raid at the company’s office at Pathadipalam and seized several documents related to the case.
The accused were produced before the Judicial First Class Magistrate Court in Kalamassery, which remanded them to judicial custody and sent them to Kakkanad jail.
Police said they would seek the custody of the accused for further interrogation as the investigation continues.
