The agency made the remarks after an Environmental Impact Assessment (EIA) Committee convened earlier in the day to discuss the plant’s plan to import more Australian coal. The plant has been searching for new sources of coal since a self-imposed ban on coal imports from Russia and Indonesia’s ban on coal exports have reduced the nation’s coal supplies. Photo: Wang Chun-chi, Taipei TimesThe plan to import more Australian coal would be necessary to maintain the plant’s operations, it said. The plant estimates that the firing process of Australian coal, which contains a high level of coal ash, would lead to a one-third increase of bottom ash and fly ash byproduct. To modify an already approved EIA, the plant would need to show that the total amount of pollutants would not increase when using more Australian coal.

China cuts rates amid weak recoveryLOCKDOWN TOLL: Weak retail sales were due to COVID-19 disruptions, as Beijing’s strict virus policy was expected to continue depressing consumer activity, an analyst saidAFP, BEIJINGChina’s central bank yesterday slashed key interest rates in a bid to kick-start the country’s stuttering economic recovery, as data showed factory output and retail sales for last month came in weaker than analysts’ expectations. The People’s Bank of China cut its policy rates, bringing its seven-day reverse repurchase rate — a key rate at which the central bank provides short-term liquidity to banks — to a new low. Photo: AFPThe world’s second-biggest economy saw a bounce in business activity as some COVID-19 restrictions eased in June, but the boost is fading and Beijing remains welded to a “zero COVID-19” policy of snap lockdowns and long quarantines, which has battered sentiment. Retail sales grew at a slower-than-expected 2.7 percent from a year earlier, down from 3.1 percent in June, while the urban unemployment rate fell to 5.4 percent, the bureau said. The country’s economic growth was just 0.4 percent on-year in the second quarter — its slowest rate since the initial COVID-19 outbreak.

Southeast Asia safety net needed for travelersBy Jeng Shann-yinn 鄭善印It is disconcerting to learn of employment scams in Cambodia, in which some Taiwanese were “sold,” sexually assaulted, locked up and beaten. I once met an overseas liaison officer the bureau had sent to Japan. Once an emergency occurs to a Taiwanese in Southeast Asia, other than Thailand, they might not be able to find help. Police liaison officers are less politically sensitive than other liaison officers from the diplomatic, legal, military and security agencies, as they are responsible for handling criminal affairs only. With their experience in the field, strong physique and discipline, police liaison officers could be a low-cost diplomatic force.

Taiwanese doubt war with China is imminent‘ORDINARY PEOPLE’: A man watching Taiwanese military drills said that there would be nothing anyone could do if the situation escalates in the Taiwan Strait Many people in Taiwan look upon China’s military exercises over the past week with calm resignation, doubting that war is imminent and if anything, feeling pride in their nation’s determination to defend itself. After a visit to Taiwan last week by US House of Representatives Speaker Nancy Pelosi, China has sent ships and aircraft across an unofficial buffer between Taiwan and China’s coast and missiles over Taipei and into waters surrounding the nation since Thursday last week. However, Rosa Chang, proudly watching her son take part in Taiwanese military exercises that included dozens of howitzers firing shells into the Taiwan Strait offBy Ann Wang and I-Hwa cheng

Indian investor Rakesh Jhunjhunwala dies at 62Reuters, MUMBAIStock investor Rakesh Jhunjhunwala, dubbed “India’s Warren Buffett” with an estimated net worth of US$6 billion, died early yesterday at age 62, his family said. Billionaire investor Rakesh Jhunjhunwala poses for a photograph after an interview in Mumbai, India, on Nov. 14, 2017. The promoter of India’s newest airline, ultra low-cost Akasa Air, Jhunjhunwala appeared days ago at its public launch. They include Tata Motors Ltd, watchmaker Titan Co Ltd, Tata Communications Ltd and Indian Hotels Co, which runs the Taj hotel brand. “Rakesh Jhunjhunwala was indomitable,” Indian Prime Minister Narendra Modi wrote on Twitter.

Asia analysts expect biggest profit drop since 2018BloombergAsian stocks just cannot catch a break. Earnings per share for MSCI Asia Pacific Index members slid 16 percent in the three months through June from a year earlier, the steepest decline in eight quarters, analyst estimates compiled by Bloomberg Intelligence showed. Photo: AFPThe prospect of dwindling profits adds to the negatives that have dragged the MSCI Asia Pacific Index down almost 16 percent this year, putting it on course for its worst annual performance since 2018. “All the elements are not in place for a sustainable up-move,” said Rajat Agarwal, an Asia equity strategist at Societe Generale SA. A slowdown in China is one of the major factors pushing down regional earnings, particularly as Chinese firms make up about 20 percent of the MSCI Asia gauge.

Oil up weekly as traders weigh demand, Iran dealBloombergOil declined on Friday, but still posted a weekly gain as traders weighed the prospects of higher demand this winter against the potential for Iranian supply to return. Oil pumpjacks are pictured at Vaca Muerta shale oil and gas drilling in the Patagonian province of Neuquen, Argentina, on Jan. 21, 2019. “Demand numbers in the US were better and we have priced in a lot of negative demand adjustments into the market at this point,” she added. The International Energy Agency this week raised its forecast for global demand growth, which has supported prices. While many analysts and traders believe the prospect of an Iran nuclear deal has not yet been priced into the market, the likelihood of an agreement is increasing.

Dollar recovers, but down for the weekReuters, NEW YORKThe US dollar rallied on Friday, but posted a weekly drop as traders weighed improving US inflation data against comments from US Federal Reserve officials who cautioned that the battle against rising prices was far from over. US dollar and euro banknotes are pictured on July 17. The US dollar index was up 0.56 percent at 105.67, but posted a weekly loss of 0.89 percent. The New Taiwan dollar on Friday declined against the US dollar, losing NT$0.028 to close at NT$29.970, down 0.07 percent from a week earlier. Data showed UK GDP contracted by less than forecast in June, even though an extra public holiday had been expected to cause a big drag.

Zoonotic Langya virus found in China, CDC saysUNDER WATCH: Taiwan will have to establish a standardized nucleic acid testing method to identify the virus and monitor its spread, the CDC said The Langya henipavirus, which can be transmitted from animals to humans, has been discovered in China, with 35 human infections reported so far, Taiwan’s Centers for Disease Control (CDC) said, adding that the nation would establish a nucleic acid testing method to identify the virus. A study titled “A Zoonotic Henipavirus in Febrile Patients in China” that was published in the New England Journal of Medicine on Thursday said that a new henipavirus associated with a fever-causing human illness was identified in China. The study said an investigation identified 35 patients with acute infection of the Langya henipavirus in China’s ShandongBy Lee I-chia

Another reason for TSMC’s success was the decision to pivot to developing and manufacturing 12-inch wafers, when Intel and Samsung were focusing on 18-inch wafers in 2013, he said. TSMC had talks with European chip equipment supplier ASML, whose priority at the time was advanced technology, he said, adding that the industry was “hot for 450mm wafers,” which TSMC was not pursuing. However, ASML did not care whether “wafers [were] bigger or smaller,” as there was no cost saving, he said. It was one of the foolish things I’ve done,” said Chiang, who now lives in the US, where he is a citzen. SMIC could not purchase the latest manufacturing equipment to produce 7-nanometer chips because of US sanctions implemented three days after he joined the company, Chiang said.

Taiwan smart to respond with calmBy Collins Chong Yew KeatTaiwan has been under constant pressure from Beijing for decades, with increasing intensity since Chinese President Xi Jinping’s (習近平) ascension to power in 2013. Beijing’s coercive attempts to isolate and tie the hands of Taiwan, and to seek to cut off Taiwan’s international participation, can only yield greater resilience and hardened perceptions and sentiments of Taiwanese against Beijing’s tactics. It would invite Beijing to assume a risky and unproven posture, and venture into the conflict with early strategic missteps as it loses sustaining morale. Collins Chong Yew Keat provides analysis and opinion to international media on contemporary global and regional issues. His areas of focus include strategic and security studies, US foreign policy and regional conflict.

The subsidy program, dubbed “Taiwan Food Go to the World,” would provide guidance to food producers on marketing and finance to help them overcome difficulties due to import bans China imposed on Taiwanese food brands on Monday last week, the ministry said yesterday. China is the third-largest export destination for local processed food companies, accounting for 20 percent of Taiwan’s overall processed food exports, the ministry said. However, several Taiwanese companies whose registrations on the system are up to date were also affected by the ban. The government is promoting the sale of processed Taiwanese food products and agricultural products to other markets to help producers overcome the China trade challenges, Minister of Economic Affairs Wang Mei-hua (王美花) told reporters. The ministry hopes the program can help companies diversify their target markets and bring Taiwanese delicacies to more countries, she said.

TPP unveils public response task force to boost securityBy Lee I-chia / Staff reporterThe Taiwan People’s Party (TPP) yesterday announced the establishment of a “people’s response task force” as it urged the government to enhance national security. As China’s actions have highlighted Taiwan’s national security problems, the party is establishing a national task force to give a voice to the people and companies that have been affected by Beijing’s actions, the party said. From left, Taiwan People’s Party legislators Tsai Pi-ru, Andy Chiu and Jang Chyi-lu hold placards at a news conference in Taipei yesterday. It should amend the Civilian Defense Manual as soon as possible, Tsai added. The Ministry of Health and Welfare should assess whether the nation would have enough medical resources if a war breaks out, she said.

Nvidia sales plunge on PC industry slumpBloombergNvidia Corp’s quarterly revenue missed its projections by more than US$1 billion, surprising investors and piling on more evidence that demand for electronic components is drying up quickly after a two-year boom. Intel Corp, Western Digital Corp and other companies that depend on PC sales have reported sharp declines in demand for their products. “Our gaming product sell-through projections declined significantly as the quarter progressed,” Nvidia CEO Jensen Huang (黃仁勳) said in the statement. Russia’s invasion of Ukraine also weighed on its outlook, and together the problems were expected to cut sales by about US$500 million in the fiscal second quarter, Nvidia said. Gaming revenue in the fiscal second quarter fell 44 percent from the previous quarter and 33 percent from a year earlier to US$2.04 billion, Nvidia said.

Taiwan must address TikTok threatBy Pan Kuan 潘寬In the article “Who’s afraid of TikTok? India banned TikTok for allegedly stealing Indian users’ information and surreptitiously sending it to China. With many countries on alert, is Taiwan, which is on the front line of China’s hegemonic expansion, prepared for technology like TikTok? The Economist article said that TikTok is quickly catching up to its peers, and is growing much faster than other platforms. The short-video format has caught the attention of young people, with about 44 percent of TikTok users in the US younger than 25, while only 16 percent of Facebook users are younger than 25.