India unveils US$26 billion plan to combat inflationBloombergIndia unveiled inflation-fighting fiscal measures estimated to cost US$26 billion that include lower fuel taxes and import levies, raising speculation the government would expand its bond borrowing program and potentially easing pressure on the central bank. A worker reacts as wheat is poured from a truck at a wholesale market in the Narela District of New Delhi, India, on Sunday. The revenue hit from the fuel tax would likely result in an extra 1 trillion rupees of government borrowing, people familiar with the matter said. The government’s steps follow a recent shift toward inflation fighting by the RBI, which announced a surprise rate hike earlier this month. India had earlier budgeted to raise about 14.3 trillion rupees through debt issuances in the fiscal year through March next year.

US forces would defend Taiwan: BidenFATES LINKED: The US president said that sanctions on Russia over Ukraine must exact a ‘long-term price,’ because otherwise ‘what signal does that send to China?’By Kayleigh Madjar / Staff writer, with AFP and CNAUS President Joe Biden yesterday vowed that US forces would defend Taiwan militarily in the event of a Chinese attack in his strongest statement to date on the issue. Asked if Washington was willing to get involved militarily to defend Taiwan, he replied: “Yes.”President Joe Biden speaks during a news conference with Japanese Prime Minister Fumio Kishida at Akasaka Palace, Monday, May 23, 2022, in Tokyo. Photo: ReutersIn Washington, the White House said that Biden was not diverging from the US’ official “one China” policy, which includes the commitment to “provide Taiwan with the military means to defend itself.”“Our policy has not changed,” an official said. In Taipei, Ministry of Foreign Affairs spokeswoman Joanne Ou (歐江安) thanked Biden and the White House for their “rock solid” commitment to Taiwan. In both instances, the White House made statements shortly afterward saying that US policy toward Taiwan had not changed.

Ministry mulling need for hate crime legislationBy Shelley Shan / Staff reporterThe Ministry of Justice yesterday said that it is considering whether the nation should enact legislation to target hate crimes after a shooting targeting the Irvine Taiwanese Presbyterian Church last week killed one person and injured five. Minister of Justice Tsai Ching-hsiang, center, walks to the legislature in Taipei yesterday to attend a meeting. Photo: CNAChou is believed to have targeted the Irvine congregation as the Presbyterian Church in Taiwan has been supporting Taiwanese independence. Democratic Progressive Party (DPP) Legislator Lo Chih-cheng (羅致政) last week told a news conference in Taipei held by the Presbyterian Church that he would propose legislation to punish hate crimes. “Many countries have taken similar legal actions to deter hate crimes and hate speech,” Lo said.

Indo-Pacific: Taiwan not included in trade pactAP, TOKYOUS President Joe Biden is expected to unveil a list of nations today who would be joining a long anticipated Indo-Pacific region trade pact, but Taiwan will not be among them. US National Security Adviser Jake Sullivan said that Taiwan is not among the governments included in the launch of the Indo-Pacific Economic Framework, a trade pact that is meant to allow the US to work more closely with key Asian economies on issues including supply chains, digital trade, clean energy and anticorruption efforts. The US president is scheduled to highlight the launch of the framework as he meets with Japanese Prime Minister Fumio Kishida today. US National Security Adviser Jake Sullivan speaks at a daily press briefing in the Brady Briefing Room of the White House in Washington on Wednesday. Beijing has criticized the US effort to form the trade pact.

Indo-Pacific: Biden in Japan to launch regional economic planCOUNTERING CHINA: Joe Biden is to attend a meeting of the Quad and launch the IPEF trade pact to give an economic pillar to Washington’s Indo-Pacific strategyReuters, TOKYOUS President Joe Biden yesterday arrived in Japan to launch a plan for greater US economic engagement with the Indo-Pacific region, facing criticism even before the program is announced that it would offer scant benefit to countries in the region. On the second leg of his first Asia trip as president, Biden is to meet with leaders of Japan, India and Australia, the Quadrilateral Security Dialogue (Quad), another cornerstone of his strategy to push back against China’s expanding influence. US President Joe Biden arrives at Yokota US Air Force Base in Fussa, Japan, yesterday. Biden plans to roll out the Indo-Pacific Economic Framework (IPEF), a program to bind regional countries more closely through common standards in areas including supply chain resilience, clean energy, infrastructure and digital trade. Tomorrow in Tokyo, Biden is to join the second in-person Quad summit.

The center on Saturday announced that it was expanding the rapid test diagnosis policy to people living in indigenous townships and outlying islands, starting today. Some PCR testing capacity would remain at the stations, as people who tested positive with a rapid test but do not agree with the result and people who have COVID-19 symptoms but tested negative using a rapid test can still undergo a PCR test for clarification, he said. Chen said 198 new moderate cases and 58 new severe cases were confirmed, while 15 moderate cases developed into severe cases. Separately, Taipei Mayor Ko Wen-je (柯文哲) yesterday tested positive using a rapid test. He later had a PCR test at a hospital and it came back positive with a cycle threshold value of 16.

Spain temperatures break May record‘EATING UP SPRING’: Temperatures are 10oC to 15oC above the seasonal average and a city northwest of Madrid experienced its first ‘tropical’ May night on FridayThe GuardianParts of Spain are experiencing their hottest May since records began, as a mass of hot, dry air blows in from Africa, bringing with it dusty skies and temperatures of more than 40°C. “In many places the temperature did not fall below 25°C, something practically unheard of in May.”A woman cools off in a fountain during a heat wave in Cordoba, Spain, on Saturday. The city of Segovia, northwest of Madrid, also experienced its first “tropical” May night on Friday as temperatures remained above 20°C. A recent Aemet study found that the arrival of 30°C temperatures across Spain and the Balearic islands had come an average of 20 to 40 days earlier over the past 71 years. However, it said there was no indication this year that the unusually hot spring presaged a record-breaking hot summer.

The farm is at the forefront of a scheme called solar sharing that involves the use of farmland for producing crops and generating power. The movement is gaining adherents as the global push to replace fossil fuels is encouraging more innovative approaches to boosting capacity for renewable energy. Solar sharing is also useful in countries with harsh growing environments, protecting crops by absorbing sunlight and acting as a shield. However, while Magami has demonstrated the success of solar sharing, the practice has not been widely adopted in Japan. Those have all been filled.”Other nations are making progress with solar sharing, especially in countries that face a similar lack of space.

Oil rises weekly as demand outweighs recession concernsBloombergWest Texas Intermediate (WTI) set its fourth straight weekly gain as product markets remain tight amid healthy demand, eclipsing concerns about an economic slowdown that have roiled financial markets. Despite the choppy trading, it posted its best run of weekly increases since the middle of February. Rising demand for motor fuels and shrinking inventories ahead of the summer driving season underscored a fundamentally tight supply situation even as broader economic fears shook equity markets. While the US and UK have announced bans on Russian exports, flows to Asia have picked up. China is seeking to replenish strategic stockpiles with cheap Russian oil even as officials grapple to suppress COVID-19 outbreaks.

Wimbledon stripped of points over Russia banAFP, PARISWimbledon, widely regarded as the world’s most prestigious tennis tournament, was on Friday stripped of ranking points by the sport’s main tours in a move that threatens to reduce the Grand Slam to the status of a high-profile exhibition event. The decision by the ATP and WTA was in response to Wimbledon banning Russian and Belarusian players following the invasion of Ukraine. “It is with great regret and reluctance that we see no option but to remove ATP Ranking points from Wimbledon for 2022,” an ATP statement said. Daniil Medvedev of Russia returns against Richard Gasquet of France during their Geneva Open men’s singles match in Switzerland on Tuesday. “We deeply regret the impact of this decision on the individuals affected,” a statement from the Wimbledon organizers said.

Hon Hai, Yageo venture to acquire 30% APEC stakeBy Lisa Wang / Staff reporterHon Hai Precision Industry Co (鴻海精密) and Yageo Corp (國巨) yesterday said that they plan to acquire a 30 percent stake in local semiconductor manufacturer Advanced Power Electronics Corp (APEC, 富鼎) for about NT$2.89 billion (US$97.45 million) through a joint venture, their latest effort to broaden their semiconductor portfolios. Yageo chairman Pierre Chen, left, and Hon Hai chairman Young Liu bump elbows in an undated photograph. Hon Hai is a major iPhone assembler, while Yageo is the world’s No. “Semiconductors have been one of the three key technology pillars of Hon Hai,” said Hon Hai chairman Young Liu (劉揚偉), who is also chairman of XSemi. “Our alliance with APEC is to capture the upcoming opportunities in analogue and power semiconductors,” Yageo chairman Pierre Chen (陳泰銘) said in the statement.

Inhumane animal traps should be banned: advocatesBy Yang Cheng-yu and Jake Chung / Staff reporter, with staff writerThe manufacture and use of animal traps that mutilate their catch should be banned via legal amendments, animal protection groups said yesterday. Members of the Taiwan Animal Protection Monitor Network and legislators from different parties watch a man demonstrate how animal traps work at a news conference in Taipei yesterday. A child could step into a boar trap and be hung from a tree, which would make Taiwanese think twice about such traps, ACT founder Sean McCormack said. Separately, Forestry Bureau staff demonstrated redesigned animal traps, which allow for adjustable diameters and pressure plates, preventing bears and leopard cats from activating the traps. The new traps are designed to meet farmers’ needs to deter animals, and old traps should be traded in for the new model, bureau staff said.

MOL eases rules for applications for COVID leaveBy Jonathan Chin / Staff writer, with CNAWorkers can turn in their COVID-19 isolation notification form any time within 30 days after the end of their isolation or quarantine period, the Ministry of Labor (MOL) said yesterday, as the nation recorded 85,720 new domestic cases. Employees who are confirmed to have COVID-19 can apply for sick or injury leave, while those in self-isolation after being listed as a contact can apply for pandemic prevention leave, he said. Those who need to stay home to care for an isolating child can request family care leave or pandemic prevention care leave, he said. Chen, who also heads the CECC, said that the quarantine notification system would be separated from the National Infectious Disease Reporting System to enhance their efficiency. Over the past two years, there have been only 457 confirmed COVID-19 reinfections in Taiwan, he said, citing data valid as of Monday.

Systems to defend against UAVs approved: sourceStaff writer, with CNAThe military yesterday approved a project to install indigenous uncrewed aerial vehicle (UAV) defense systems at 45 bases across the nation to neutralize hostile drones, a military source said. Under a five-year project ending in 2026, the Ministry of National Defense is to spend NT$4.3 billion (US$144.45 million) to purchase the UAV systems, which were designed by the Chungshan Institute of Science and Technology, the source said on condition of anonymity. The defense systems are to be installed at 45 air, naval and missile bases across the nation, including in remote mountain areas and on outlying islands, the source said. The UAV defense systems were designed to disrupt and neutralize drones engaged in hostile airborne surveillance and other potentially malicious activities, the institute said. They are capable of remotely detecting, tracking and classifying small UAVs before providing an option to disrupt their activity, the institute said.

Inherited properties rise 12 percentBy Crystal Hsu / Staff reporterGifted and inherited properties last quarter increased 12 percent and 4.3 percent year-on-year to 15,481 and 14,952 units respectively, government data showed yesterday, as people appeared to be undeterred by stricter property tax terms while becoming more active in asset allocations. The figures show a seven-year high following the introduction of combined property taxes, data on the Ministry of the Interior’s Web site showed. Photo: Hsu Yi-ping, Taipei TimesTightened property tax terms should result in higher taxes when people sell inherited and gifted properties, although people regardless seem to be pressing ahead with asset allocations, especially those with multiple homes, Lang said. Owners of multiple homes can bypass stricter lending terms by gifting properties to spouses or children who qualify for higher house loans, Lang said. Gifted and inherited properties could also allow first-time property sellers the choice to apply a 10 percent tax rate on transaction gains, benefits usually not available to multiple home sellers.