European shares end best week since end of MarchReutersEuropean shares marked their best week since the middle of March, ending Friday on a strong note as upbeat US data and easing bets about aggressive interest rate hikes lifted sentiment. The pan-European STOXX 600 rose for a third straight session, closing up 1.5 percent, taking weekly gains to 3 percent. Banks shone this week, up 6 percent as major central banks stayed on course to hike interest rates. Investors are watching for any updates from the European Central Bank (ECB), which is expected to begin its hiking cycle in July. The STOXX 600 is on track to end this month lower, leaving March as the only month it rose this year.

Free COVID-19 test kits to go to elderly, homelessAT-RISK PRIORITY: The government said it would offer five free rapid test kits to each person in lower-income households, and three per person to care facilitiesBy Lee I-chia / Staff reporterFree COVID-19 rapid test kits are to be provided to care facility staff and residents, in addition to homeless people and older people living alone, the Central Epidemic Command Center said yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said the Executive Yuan on Friday decided to offer five free rapid test kits to each person in lower-income households, and three per person to care facilities. The kits provided to care facilities are to be delivered to management to decide when and how the tests should be used, he said. Pingtung County’s Chunrih Township Office staff prepare COVID-19 rapid test kits for collection yesterday. The ministry is gathering lists of names from the facilities and the test kits would be delivered as soon as possible, he said.

The most expensive chicken we have seen in years. That has caused a degree of alarm in land-poor Singapore, which considers Hainanese chicken rice its national dish and depends on its neighbor for a supply of fresh birds. A man holds a chicken bought from a vendor in Kuala Lumpur on Wednesday. Photo: ReutersIn the US, servings of chicken wings are going for twice what they cost a few years ago, while British supermarket chain Co-operative Group Ltd has warned that the meat could soon become as expensive as beef. Chicken is a particularly popular meat for fast food and restaurants, with about half of poultry in the US cooked outside the home.

‘Strategic confusion’ hurts TaiwanBy Huynh Tam Sang and Chen Kuan-tingFive thousand miles from Ukraine, an island nation with a population of 23.9 million is closely watching Russia’s devastating war in Ukraine. Russia’s colossal missteps in Ukraine are unlikely to reduce Chinese President Xi Jinping’s (習近平) determination to annex Taiwan. If Beijing launches a war against Taiwan, economic sanctions, reputational costs, military support and diplomatic boycotts would likely have a seismic effect on China’s reputation and economic strength. At the very least, Biden should not brew “strategic confusion” with confusing remarks when addressing the issue of defending or supporting Taiwan. Altogether, strategic clarity instead of strategic ambiguity should become essential, an approach the US could embrace as leverage to spearhead its Taiwan policy.

Labor groups, TSP slam Hung over Xinjiang‘LIES BY THE WEST’: The former KMT chairperson accused Western nations of fabricating lies about Chinese repression of Uighurs in XinjiangBy Jason Pan / Staff reporterWorkers’ groups and the Taiwan Statebuilding Party (TSP) yesterday condemned remarks by former Chinese Nationalist Party (KMT) chairwoman Hung Hsiu-chu (洪秀柱) praising China’s Xinjiang policy. It condemned Hung’s remarks that the US and other countries had fabricated lies about Chinese repression of Uighurs in Xinjiang. Photo: AFP / The Victims of Communism Memorial FoundationHung made the remarks while on a Chinese government-sponsored visit to Xinjiang this week. Hung has visited several places in Xinjiang during her China trip, including visiting a “Xinjiang Antiterrorism and Deradicalization Struggle Exhibition” in Urumqi on Tuesday. “Xinjiang is a harmonious, joyful, diverse and inclusive society,” Hung was quoted as saying by the Chinese state news outlet China Daily.

EDITORIAL: Hate crime law likely not neededThe Ministry of Justice on Monday said that it might propose a law that targets hate crimes and hate speech, in response to a shooting targeting a Taiwanese congregation in California. It might be understandable if there had been concern about a rise in hate crimes within Taiwan’s borders, but hate crimes are unlikely in Taiwan. If the ministry is to propose new legislation to target hate crimes, it should define the crimes it is concerned about. Taiwan already criminalizes defamation and it could introduce a hate speech law as an extension of that, to protect identifiable groups of people, but it is debatable whether such a law is needed. Whether hate crime laws are needed in Taiwan depends on how hate crime is defined, and whether that definition should be applied to Taiwanese society.

Nanya Technology expects the fab, to be built in New Taipei City’s Taishan District (泰山), to start commercial operations in 2025. Nanya Technologies Corp chairman Wu Chia-chau speaks at the chipmaker’s annual shareholders’ meeting at its fab in Taoyuan yesterday. Photo courtesy of Nanya Technologies CorpIt had expected the fab to start operations in 2024 with a monthly capacity of 15,000 wafers. The new factory would help Nanya Technology solve capacity bottlenecks, it said. A second chip, a DDR5 DRAM, is entering pilot production using 10-nanometer technology, Nanya Technology chairman Wu Chia-chau (吳嘉昭) told the company’s annual shareholders’ meeting yesterday.

Doctor sorry after saying wine helps stop infectionBy Liu Tzu-hsuan / Staff writer, with CNAA doctor on Monday apologized for saying that sorghum wine could help prevent COVID-19. In the clip, he said that drinking half a glass of sorghum wine while eating could kill bacteria in the throat. Eight people who attended a Friends of the Police Association gathering in Yunlin’s Douliou City (斗六) did not test positive for COVID-19 because they had drunk sorghum wine, he said in the recording. Chen said that he would remember this experience and provide accurate, evidence-based information, especially as Taiwan is facing an outbreak of COVID-19. He also apologized to the police association and the hospital, adding that he would accept any punishment that his employer imposes.

Belize ‘saddened’ by WHA rejection of Taiwan’s bidStaff writer, with CNA, GenevaBelizian Minister of Health Kevin Bernard on Wednesday expressed sadness over the exclusion of Taiwan from the 75th World Health Assembly (WHA) in Geneva, Switzerland, saying he hopes Taiwan can be present at future discussions on global health issues. Bernard had spoken in defense of Taiwan’s right to be at the WHA when the issue was discussed at a closed-door meeting of the assembly’s general committee on Sunday, the Ministry of Foreign Affairs said. The rejection of Taiwan’s motion marked the sixth consecutive year the Democratic Progressive Party administration, which took office in 2016, has been unsuccessful at securing an invitation to the WHA. Lee told reporters that Taiwan’s exclusion this year was “very regrettable,” but that the government “would not relent in its efforts” for inclusion. The delegations of Taiwan’s allies said that they would continue to support the country’s WHO bid, Lee said, adding that “the door will open one day.”

Asked at the meeting whether the exercises would be postponed as the number of domestic COVID-19 infections continues to rise, Chiu responded that the live-fire exercises would not be suspended, but would likely be downsized, with the number of military personnel participating in the drills to be reduced. The 38th Han Kuang military exercises include simulated tabletop war games and live-fire drills. The tabletop exercise concluded on Friday last week, while the live-fire component is scheduled for July 25 to 29. Minister of National Defense Chiu Kuo-cheng, right, and Chinese Nationalist Party (KMT) Legislator Lee Guei-min argue at the legislature in Taipei yesterday. Photo: Fang Pin-chao, Taipei TimesThe tabletop exercise simulated the military’s tactics against possible Chinese invasion scenarios drawn from Russia’s invasion of Ukraine, the Ministry of National Defense said.

Listed companies’ pretax profits hit 10-year highBy Kao Shih-ching / Staff reporterThe nation’s listed companies posted pretax profits of NT$1.26 trillion (US$42.7 billion) last quarter, up 26.6 percent year-on-year and the highest first-quarter performance in the past decade, data released by the Financial Supervisory Commission showed. The overall pretax profits of all 946 firms listed on the Taiwan Stock Exchange (TWSE) grew 27.31 percent year-on-year to NT$1.14 trillion in the first quarter, also the best performance in 10 years, commission data showed. However, the financial sector posted a decline in pretax profits because of lower investment income due to interest rate increases and uncertainty on financial markets amid Russia’s invasion of Ukraine. The photovoltaic and plastics sectors also posted contractions in pretax profits as rising inflation reduced demand, TWSE data showed. Pretax earnings posted by the 794 firms listed on the Taipei Exchange (TPEX) grew 11.63 percent year-on-year to NT$76.8 billion last quarter, also the best performance in 10 years, commission data showed.

Large OTT TV operators subject to new regulations under NCC’s latest draft actBy Shelley Shan / Staff reporterLarge over-the-top (OTT) television operators would be required to register with the government and subject to other special obligations under a new draft act regulating Internet audiovisual services (網際網路視聽服務法草案), the National Communications Commission (NCC) said yesterday. The OTT TV operators regulated by the draft act are those that establish service bases in Taiwan or have substantial ties with the nation, he said. The draft stipulates obligations common to all OTT TV operators and obligations that only apply to registered operators, Wong said. Overseas operators without local agents or operators failing to register as required would face penalties, he said. The draft act provides tax incentives for operators that produce local content, as long as the incentives comply with tax laws, Wong added.

Property, manufacturing sectors lose hope: surveySURPRISE: The service sector’s confidence gauge rose in part because restaurants, hotels and travel agencies are expecting Taiwan to reopen as COVID-19 cases dropBy Crystal Hsu / Staff reporterAn increase in COVID-19 cases and China’s lockdowns have cast a shadow over business prospects for local manufacturers, and property builders and brokers, the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) said yesterday. The confidence reading for the manufacturing industry declined 4.49 points to 99.1 — its lowest since July 2020 — as sales of machinery equipment, optical devices and plastic products slowed, although foundries held strong, the survey found. From left, Gordon Sun, director of the Taiwan Institute of Economic Research’s Economic Forecasting Center, institute president Chang Chien-yi and researcher Arisa Liu hold a news conference in Taipei on March 25. The number of manufacturers with positive outlooks dropped from 27.9 percent to 25.5 percent, while the number of those with dim outlooks climbed 7.1 points to 14.7 percent, the survey said. As for property developers and brokers, their confidence score tumbled 7.85 points to 96.1 after housing transactions shrank 11.2 percent in the six special municipalities, the survey said.

TPP lawmakers lament US trade framework snubBy Chung Li-hua and William Hetherington / Staff reporter, with staff writerThe government must not describe those who scrutinize its foreign relations as “looking down on Taiwan,” as the nation’s diplomatic predicament is “a plain fact and clear to everyone,” Taiwan People’s Party (TPP) Legislator Chiu Chen-yuan (邱臣遠) said yesterday. “Taiwanese were shocked by the news that Taiwan was left out” of the US-led Indo-Pacific Economic Framework (IPEF), Chiu told a news conference in Taipei after the membership of the framework was announced. “Minister of Foreign Affairs Joseph Wu (吳釗燮) had told the legislature that in principle, Taiwan was likely to be included,” Chiu said. “President Tsai Ing-wen (蔡英文) also spoke of ‘rock solid’ ties with the US.”From left, Taiwan People’s Party (TPP) legislators Tsai Pi-ru and Chiu Chen-yuan, and TPP New Taipei City councilor candidate Chang Kai-chun attend a news conference in Taipei yesterday. The government would still negotiate with the US about other ways Taiwan could meaningfully participate in the trade framework, and on the possibility that Taiwan and US could work out a bilateral trade agreement, Chiu said.

Qualcomm maintains multiple sourcing strategyBy Lisa Wang / Staff reporterQualcomm Inc yesterday said it would maintain its supply chain strategy of sourcing chips from multiple foundry partners, including advanced chips from two major suppliers, to ensure a sufficient chip supply amid the COVID-19 pandemic. Qualcomm is sourcing chips made by mature technologies from several foundry partners, the company said. Photo: ReutersAlex Katouzian, general manager of Qualcomm Technologies Inc’s mobile, compute and XR business, told a virtual media briefing that the strategy helped the firm deal with a chip shortage. Qualcomm Technologies is a wholly owned subsidiary of Qualcomm. “You can see the Wi-Fi 6 adoption rate and how fast the ramp was.