Ukraine soccer club Shakhtar Donetsk survive into their ninth year of exileAP, GENEVA, SwitzerlandHosting Champions League games in Poland and planning a humanitarian tour of the US feel like natural next steps for Ukraine’s top soccer team after eight years exiled from their home city by Russian aggression. Shakhtar Donetsk players enter the pitch ahead of a friendly charity soccer match against Olympiakos at Karaiskaki Stadium in Piraeus, Greece, on April 9. “We will play in Champions League group, they will play nothing,” Srna said, referring to Russian clubs. Taking international games to Ukraine is now an unacceptable security risk, so Shakhtar are talking with Legia Warszawa about staging their three Champions League home games. In difficult moments you must help other people.”Akhmetov this week pledged US$2 million to help Ukrainian soccer restart.

Trade gains may last post-pandemicBy Crystal Hsu / Staff reporterTaiwan has delivered strong trade growth since the COVID-19 pandemic began, and its rising weight in international trade and supply chains could go beyond the boost spurred by the pandemic, UBS Group AG North Asia economist William Deng (鄧維慎) said on Thursday. Already edging up in mid-2019 before the COVID-19 shock, Taiwan’s international trade share stepped up further in early 2020, which was sustained into this year, he said. Although work-from-home demand is no longer a stimulus this year, and most other exporters have returned to normal operations, Taiwan maintained a large share of international trade. Taiwanese trade held a larger market share in the US in the first quarter than in the same period in 2019, he said. Taiwan’s trade and production chain gains are broad-based, covering technology and non-tech spaces, it said.

Farmers and consumers hit by high pricesDOUBLE WHAMMY: Many farmers globally cannot afford spiking prices in agricultural production, while consumers are already being hit by rising costs of food, a report saidAP, ROMEFood import bills are expected to reach a record high this year, and food markets are likely to tighten globally, a new forecast by a UN food agency said. The outlook discussed how agricultural sectors are struggling with rising costs of production, especially fertilizer and fuel, which could trigger further increases in food prices. Spiking prices for agricultural production inputs, such as rising energy costs, could call into question whether the world’s farmers can afford to buy them, FAO experts in markets and trade wrote. Some North American farmers are shifting from corn to soy, which requires less nitrogen fertilizer, the report noted. All these factors point to “low (and falling) real prices for farmers, despite the high prices faced by consumers,” the FAO said.

Azam’s century powers Pakistan past West IndiesAFP, MULTAN, PakistanPakistan skipper Babar Azam on Wednesday became the first batter to knock three successive one-day international (ODI) hundreds twice as he anchored a five-wicket win over the West Indies in Multan. 1 batter in both limited overs formats, Azam cracked a brilliant 107-ball 103 with nine boundaries to help Pakistan overhaul a tough 306-run target in 49.2 overs. Opener Shai Hope knocked a 134-ball 127 for his 12th ODI century to help the West Indies post an impressive 305-8 — their highest against Pakistan in Pakistan. Pakistan captain Babar Azam, right, celebrates after scoring a century against the West Indies in their first one-day international at the Multan Cricket Stadium in Pakistan on Wednesday. “There was a bit going, and we know Sri Lanka are a difficult team to face at home,” Wade said.

“The proposed sale will contribute to the sustainment of the recipient’s surface-vessel fleet, enhancing its ability to meet current and future threats,” the statement said. The Ministry of Foreign Affairs said that the latest deal was the third defense package offered to Taiwan this year and the fourth since Biden took office in January last year. The third, in April, was a US$95 million sale of equipment and services aimed at maintaining Taiwan’s US-made Patriot missile air defense system. The foreign ministry welcomed the latest defense sale, saying it shows that Washington attaches great importance on enhancing Taiwan’s self-defense capability. It also reflects the US’ continued policy of normalizing defense-related sales to Taiwan, it added.

India mulls curbing fridge imports to aid local makersReuters, NEW DELHIIndia is considering restricting imports of refrigerators to promote local manufacturing, two industry sources said yesterday, potentially freezing out shipments from Samsung Electronics Co and LG Electronics Inc in the US$5 billion market. The move is in line with Indian Prime Minister Narendra Modi’s “Make in India” program to boost local manufacturing and discourage imports. That same year it also placed restrictions on television imports, affecting Samsung and other global manufacturers. India imports refrigerators from countries with which it holds a free-trade agreement, including Bangladesh, Thailand, Indonesia and South Korea. Local manufacturers that could stand to benefit from import restrictions include Voltas, Godrej Appliances and Havells India Ltd.

Pink ‘soul refresher’ unites Indians, PakistanisAFP, NEW DELHIPakistan and India have fought three wars and countless skirmishes, but their people are united by love for a cooling 115-year-old pink libation with a secret recipe. The ultra-sweet concoction of herbs and fruits, Rooh Afza — which translates as “refresher of the soul” — has not only survived the 1947 partition of the two countries, but thrived on both sides of the border. A vendor serves Rooh Afza watermelon beverages at a roadside stall in Karachi, Pakistan, on May 25. There would be, I think, three people who would know it,” the 45-year-old told reporters with a chuckle. “I think with global warming, temperatures are increasing ... the relevance of Rooh Afza is not going anywhere soon,” Ahmed said.

Taiwan and Slovakia sign judicial dealEU LINKS: The European Parliament on Tuesday passed a resolution to express concern over China’s ‘threats’ to Taiwan’s sovereignty and Indo-Pacific securityStaff writer, with CNATaiwan and Slovakia yesterday signed an agreement on judicial cooperation in civil and commercial matters, the first of its kind signed by Taiwan with an EU country. Photo: Liu Hsin-de, Taipei TimesWu described the agreement as another “extraordinary milestone” in bilateral ties that gives Taiwan and Slovakia a comprehensive framework for cooperation on judicial issues. The two nations in August last year signed an agreement on judicial cooperation in criminal matters. “By establishing the framework, Taiwan is expanding the freedom and rights of its people while enhancing ties with Slovakia,” Wu said. Laurencik said that the latest agreement is another major step in mutual cooperation that would strengthen the bilateral friendship between Slovakia and Taiwan.

EU to require common way to charge phones, devicesAP, LONDONForget rummaging through the junk drawer. Soon, Europeans are only to require one cable to charge their smartphones and other devices. EU officials said they signed a provisional agreement on Tuesday that would require a uniform charging cord in the 27-nation bloc. The new rules, which are to take effect by the fall of 2024, mean EU consumers would only need to use a common USB Type-C cable for small and medium-sized rechargeable, portable electronic devices. “European consumers were frustrated with multiple chargers piling up within their homes,” Alex Agius Saliba, the European Parliament’s lead negotiator, told a news briefing in Brussels.

India hikes rates 50 basis points to fight inflationAFP, MUMBAI, IndiaIndia’s central bank yesterday hiked rates for a second time, as Asia’s third-largest economy reels from galloping inflation due to the war in Ukraine. The Reserve Bank of India (RBI) raised its key repo rate by 50 basis points to 4.9 percent, a month after launching an aggressive monetary tightening cycle with a surprise 0.4 percentage-point lift. “The war in Europe is lingering and we are facing newer challenges each passing day,” RBI Governor Shaktikanta Das said in a televised address, pointing to higher food and fuel prices. Reserve Bank of India Governor Shaktikanta Das speaks at a news conference in Mumbai, India, yesterday. Prices have risen sharply since Russia’s invasion of Ukraine on Feb. 24, and economists estimate that a US$10 per barrel rise in Brent crude would increase consumer inflation in India by about 25 basis points.

Banks face stress tests for climate change next yearBloombergTaiwan’s banks are to undergo mandatory climate-change stress tests for the first time next year to measure the impact of a range of possible environmental catastrophes on the lenders’ assets. The Financial Supervisory Commission plans to conduct the tests in the first half of next year with the results to be published in June. Climate change and government policies aimed at mitigating it are growing priorities for financial authorities around the world. The Bank of England last month warned that British banks and insurers could see climate-related losses of as much as ￡334 billion (US$419 billion) over the next three decades following the central bank’s first-ever stress tests. Taiwan stands to be particularly hard hit by unmitigated climate change.

Business groups accused of using trusts to avoid taxesBy Chen Cheng-yu and Liu Tzu-hsuan / Staff reporter, with staff writerTwo legislators yesterday accused five business groups of using charitable trusts to avoid taxes, spending less than 1 percent of their trust assets on charity work. From 1996 to 2020, 258 charitable trusts, with a market value of more than NT$120 billion (US$4.07 billion), were approved under the Trust Act (信託法), Kao said. Democratic Progressive Party Legislator Kao Chia-yu, center, New Power Party Legislator Chiu Hsien-chih, right ,and independent journalist Yao Hui-chen, left, speak to reporters at the Legislative Yuan in Taipei yesterday. Photo: Liu Hsin-te, Taipei TimesTen trusts set up by the five groups accounted for 80 percent of the market value, at NT$99.68 billion, she added. “Charitable trusts should do charity work,” Chiu said, adding that charitable trusts should be supervised by a single competent authority instead of different agencies, and a minimum amount of donation should be required.

Apple announces message recall and other featuresAFP, CUPERTINO, CaliforniaApple Inc on Monday opened its first in-person developers conference since the onset of the COVID-19 pandemic with chips, maps and a way to delete precipitously sent messages, but was mum on any virtual reality offerings. The tech giant touted new features and capabilities being built into the operating systems running iPhone, Apple Watch and more, along with a speedy new MacBook Air computer driven by a second generation of its custom chip. Apple Inc chief executive officer Tim Cook gestures as he enters the Steve Jobs Theater during an Apple conference in Cupertino, California, on Monday. Apple is to start letting people delete and edit messages after they have been sent as part of the latest update to its operating software, as well as customizable options for the iPhone main screen. Relying increasingly on custom-made chips has enabled Apple to make its devices and software work more seamlessly together, and catch up a bit to features offered by rivals such as Google Maps and even Microsoft Corp’s Xbox video game platform for Windows-powered computers.

Third competitor dies in 2022 Isle of Man TT racesReutersThe Isle of Man TT, or Tourist Trophy, races on Monday claimed a third life when Northern Irish rider Davy Morgan was killed in a crash during the first Supersport race of the event. The races around the island off the northwest coast of England have been run since 1907 and are among the most dangerous in motorsport. French sidecar passenger Olivier Lavorel, 35, died on Saturday last week and British Supersport rider Mark Purslow, 29, on Wednesday. There have been 263 fatalities to date in the TT races, Manx Grand Prix and Classic TT held on the island’s public roads. The TT races are being held again after a two-year absence due to the COVID-19 pandemic, the longest break for the event since World War II.

Shares end higher, turnover stays lowStaff writer, with CNATaiwanese shares moved higher yesterday on a technical rebound, but the gains were capped by a late sell-off of large-cap semiconductor stocks, dealers said. Turnover also remained low as investors worried the US Federal Reserve could follow a tighter monetary policy after the US on Friday reported stronger-than-expected job data for last month, they said. Photo: CNABuying rotated to select old-economy stocks and some financial stocks, lending support to the broader market, the dealers added. Turnover totaled NT$210.28 billion (US$7.15 billion), with foreign institutional investors selling a net NT$2.21 billion in shares on the main board, Taiwan Stock Exchange data showed. The New Taiwan dollar declined NT$0.027 to close at NT$29.415 against the US dollar in Taipei trading yesterday.