Taipei - On the international arms market, it is believed that money can buy anything. But not in the case of Taiwan.

The government of Taiwan, holder of the world's fifth-largest foreign currency reserves - 281.1 billion US dollars - believes it desperately needs to buy modern weapons to guard against a possible attack from China.

Yet with China's power growing year by year, fewer and fewer countries are willing to sell arms to Taiwan, for fear of offending China.

China sees Taiwan as its breakaway province and has vowed to recover the island by force if Taipei seeks formal independence from - or indefinitely delays unification with - the mainland.

Taipei - President Alvaro Colom of Guatemala, one of the 23 countries which recognize Taiwan, is set to arrive in Taipei Tuesday evening as the island is trying to cement ties with its allies.

Colom will visit for four days and attend Taiwan's National Day celebrations on October 10. He will hold talks with President Ma Ying-jeou on strengthening ties and receive an honorary degree from the Chinese Culture University, the ministry said.

Colom will be accompanied by Foreign Minister Roger Haroldo Rodas and other Guatemalan officials and reporters.

Taipei  - Taiwan stocks fell more than 4 per cent by mid-morning Monday as investors worried about the global economic slump.

The Taiex dropped 236.53 points, or 4.12 per cent, to close at 5,505.

"Major Asian shares dived today because, despite the passing of the 700-billion-US-dollar rescue package in the US Congress, many Americans don't think the package can solve all of America's economic problems," said Chiu Hsin-lin, executive vice president of the Industrial Bank of Taiwan Securities.

Taipei  - Taiwan stocks fell more than 3 per cent by mid-morning Monday as investors worried about the global economic slump.

The Taiex dropped 176.67 points, or 3.08 per cent, to 5,565.56 three hours into trading.

"Major Asian shares dived today because, despite the passing of the 700-billion-US-dollar rescue package in the US Congress, many Americans don't think the package can solve all of America's economic problems," said Chiu Hsin-lin, executive vice president of the Industrial Bank of Taiwan Securities.

Taipei - A Chinese dissident attempting to claim asylum in Taiwan since last year asked to be repatriated on Saturday, following an unsuccessful bid for refugee status.

Cai Lujun, 40, made the request in a letter emailed to the Taiwan government. Taiwan officials have said that they would respect Cai's wish.

Cai, a former businessman in Hebei Province in China, was a jailed for three years in 2003 for criticizing the Chinese government on the internet.

On July 26, 2007, he fled to Taiwan on a fishing boat to seek asylum.

Taipei  - Taoyuan International Airport, Taiwan's largest, is losing its competitiveness in both passenger and cargo volume, a government report said Saturday.

According to the Transport Ministry report carried by Taiwan's Central News Agency, Taoyuan was number 15 in the world in cargo volume in 2007, down two places from 2006.

In Asia-Pacific alone, the airport was ranked number six for cargo, the same as 2006.

As for passenger volume in the Asia-Pacific, Taoyuan ranked 14 in 2007, down one place from 2006.