Gasoline, diesel prices to fall as oil price declinesBy Chen Cheng-hui / Staff reporterState-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it would lower gasoline and diesel prices by NT$0.1 and NT$0.2 per liter respectively, after a drop in global crude oil prices reduced the cost of oil imports. It is the third price reduction that CPC has announced in the past three weeks. Effective today, gasoline prices at CPC stations are to fall to NT$29.1, NT$30.6 and NT$32.6 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel is to be NT$26.8 per liter, CPC said. Reports that OPEC has yet to discuss a potential output cut, and that oil exports from Iran and Iraq remain normal despite domestic difficulties, also weighed on oil prices last week, Formosa Petrochemical Corp (台塑石化) said. Formosa’s prices for 92, 95 and 98-octane unleaded gasoline are to drop to NT$29.1, NT$30.6 and NT$32.6 per liter respectively, while the price of premium diesel is to fall to NT$26.6 per liter.

Chinese air force incursions spike dramaticallyESCALATION: Last month’s 446 incursions were more than the number recorded in 2020, with Bonnie Glaser saying China is trying to wear down Taiwan’s pilotsBy William Hetherington / Staff writer with CNAThe Chinese People’s Liberation Army Air Force last month made 446 incursions into Taiwan’s air defense identification zone (ADIZ), the Defense Post reported on Thursday. Last month’s incursions far surpassed the number recorded during the whole of 2020, the report said. A Taiwanese F-16 jet, left, flies alongside a Chinese People’s Liberation Army Air Force H-6K bomber on May 11, 2018. The army’s Combined Arms Battalion, snipers, tanks, armored vehicles and mortars would be tested during the four-day live-fire exercises, the source said. It is the armed forces’ second-largest drill, following the annual Han Kuang exercises that involve all branches of the military.

Combat China through India tiesBy P.R. Beijing knows that India is emerging as the global alternative to China if it is allowed to grow unimpeded. That many countries, including India, do not formally recognize Taiwan is a political hindrance to forming a united front against China. At the outset, political exchanges between India and Taiwan must be increased so that the latter is not politically isolated. Innovative ways to enhance political, economic, diplomatic and military cooperation with Taiwan must be found to tackle a common threat: China.

Google’s immersive Street View offers glimpse of ‘metaverse’By Glenn CHAPMAN / AFP, MOUNTAIN VIEW, CaliforniaFifteen years after its launch, a Google Maps feature that lets people explore faraway places as though standing right there is providing a glimpse of the “metaverse” being heralded as the future of the Internet. Google global communications associate Sofia Abdirizak, left, measures a Street View camera for a journalist during a press event at the Google Street View Garage in Mountain View, California, on Monday. “He was talking to some of his colleagues at the time, saying: ‘I bet we can do something with this.’ That was the start of Street View,” Silverman said. Street View lets people click on locations in Google Maps to see what it might look like were they at that spot, and even look around. Now, the Internet behemoth is introducing an “immersive view” that fuses Street View images with artificial intelligence to create “a rich, digital model of the world,” Google Maps experiences vice president Miriam Daniel wrote online.

Textile designer is bringing back Mughal patternsBy Laurence Thomann / AFP, AMBER, IndiaTextiles designer Brigitte Singh lovingly lays out a piece of cloth embossed with a red poppy plant she said was probably designed for Mughal emperor Shah Jahan, builder of the Taj Mahal, four centuries ago. A worker uses a hand block printing technique on a cotton fabric at the workshop of textile designer Brigitte Singh in Amber, India, on June 2. Photo: AFP“I was the first to give a renaissance to this kind of Mughal design,” Singh said in her traditional printing workshop in Rajasthan. Textile designer Brigitte Singh, right, watches as a worker uses a hand block printing technique on a cotton fabric at her workshop in Amber, India, on June 2. A worker carves a design on wood to make a block used in hand block printing at the workshop of textile designer Brigitte Singh in Amber, India, on June 2.

Tibetan democracy feted in Taipei at legislature eventBy Yang Cheng-yu and Jake Chung / Staff reporter, with staff writerTaiwan and Tibet share a democratic way of governance, and China’s oppression cannot make Tibetans abandon their belief in democracy, the Central Tibetan Administration’s Sikyong Penpa Tsering said in a pre-recorded message at an event yesterday marking the 62nd anniversary of the founding of Tibet’s government-in-exile. Tsering’s pre-recorded comments were played at an event at the legislature in Taipei jointly held by the Taiwan Tibetan Welfare Association, the Dalai Lama’s Tibet Education Foundation and the Taiwan Parliament Group for Tibet to mark the founding of the Tibetan parliament in exile. People sing the Tibetan anthem yesterday during an event at the Legislative Yuan in Taipei to mark the 62nd anniversary of the founding of Tibet’s government-in-exile. Independent Legislator Freddy Lim (林昶佐) said at the event that the Tibetan efforts over the past two decades had not been wasted, citing the first democratic election of the Central Tibetan Administration’s sikyong Lobsang Sangay in 2012. Democratic Progressive Party Legislator Michelle Lin (林楚茵) said that many support a democratic Tibetan government, adding that she hopes Tibetans continue their fight against the tyranny of the Chinese.

India commissions second aircraft carrierAP, NEW DELHIIndia yesterday commissioned its first home-built aircraft carrier as it seeks to counter regional rival China’s much larger and growing fleet, and expand its own indigenous shipbuilding capabilities. The INS Vikrant, whose name is a Sanskrit word for “powerful” or “courageous,” is India’s second operational aircraft carrier, joining the Soviet-era INS Vikramaditya, which it purchased from Russia in 2004. People gather on the deck of the INS Vikrant during the aircraft carrier’s commissioning in Kochi, India, yesterday. Until then, it would rely on the Russian aircraft borrowed from India’s other carrier, said Rahul Bedi, a defense expert. Modi yesterday said security concerns in the Indo-Pacific region and the Indian Ocean have been ignored for too long.

TSMC says three fabs to start production in 2024ADVANCED PROCESSES: The company expects to start producing 3-nanometer chips in Tainan in the second half and 2-nanometer chips at new factories in Hsinchu Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that three new plants in Kaohsiung, Japan and the US would start production in 2024, as it accelerates its capacity expansion to cope with growing semiconductor demand. Apart from the two fabs that are under construction in Arizona and in Kumamoto, Japan, the world’s biggest contract chipmaker plans to start building a new fab in Kaohsiung in the second half of this year, TSMC vice president Y.L. Wang (王英郎) said at the firm’s annual technology symposium in Hsinchu. The Kaohsiung fab, dubbed Fab 22, would produce 7-nanometer and 28-nanometer chips once it beginsBy Lisa Wang

Google defends Meta deal, ad empire from US states’ antitrust threatBloombergA 2018 advertising pact between Alphabet Inc’s Google and Meta Platforms Inc does not contravene antitrust law because it does not restrict Facebook from using rival ad exchanges, Google’s attorney told a federal judge. Google and Meta, which is not a defendant in the case, have defended the agreement and denied any wrongdoing. The deal expanded competition because it allows Facebook to bid on ads being sold through Google’s ad exchange on behalf of Web sites or mobile apps within its Facebook Audience Network, he said. In exchange, the social media company abandoned plans to adopt a new type of technology that would have undercut Google’s online advertising monopoly, he said. Lawyers for the US Department of Justice — which sued Google in 2020 for allegedly monopolizing the search market and is separately probing the company’s ad tech business — attended Wednesday’s hearing.

Toyota to invest ￥730bn in batteriesEV BOOST: Toyota’s plan to invest ￥325 billion in the US follows the passage of a US law offering tax credits for buying vehicles with batteries made in North AmericaAP, TOKYOToyota Motor Corp is investing ￥730 billion (US$5.26 billion) in Japan and the US to boost production of batteries for electric vehicles (EV), the Japanese automaker said yesterday. In the US, about ￥325 billion would be invested in Toyota Battery Manufacturing in North Carolina, the company said. Toyota has scored success with the Prius and other hybrid models, which have an engine as well as a battery-driven electric motor, and so the company has at times been seen as a laggard on electric vehicles. People inspect a Toyota Motor Corp Lexus NX plug-in hybrid electric vehicle at the Gaikindo Indonesia International Auto Show in Tangerang, Indonesia, on Aug. 18. Photo: BloombergHowever, the global demand for electric vehicles is expected to grow in coming years as fuel prices rise and concerns grow about the environment.

Buffett’s BYD sale fuels fears of more to comeBloombergTraders rushed to sell BYD Co (比亞迪) after Warren Buffett’s Berkshire Hathaway Inc trimmed its stake in the Chinese electric vehicle (EV) maker, fearing that the legendary investor might be gearing up for an eventual exit after a decade as the company’s most notable backer. BYD shares yesterday plunged as much as 13 percent in Hong Kong, the most in seven weeks and the worst performance on the benchmark Hang Seng Index. The investment has also proved hugely lucrative as BYD shares have soared more than 2,000 percent since his initial purchase. Investors view BYD, China’s biggest EV maker, as a bellwether for the sector. A BYD official, in comments to China’s 21st Century Business Herald, said there is “no need to overinterpret” the stake sale, and added that the company’s operations remain normal.

EU to intervene in energy market as winter loomsBloombergThe EU is preparing to step into its energy market, intervening in the short term to dampen soaring power costs as the continent braces for the economic hit of energy shortages this winter. Introducing a maximum regulated price in an emergency would be limited to its duration and the market price should be used as long as possible. “Skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” Von der Leyen said earlier on Monday at the Bled Strategic Summit in Slovenia. European natural gas prices on Monday plunged the most since March after Germany said its gas stores are filling up faster than planned. “We will look very carefully at what instruments we have that we can use to bring down electricity prices,” Scholz said.

Guatemalan minister reaffirms support for TaiwanStaff writer, with CNAGuatemalan Minister of Foreign Affairs Mario Bucaro yesterday reaffirmed his country’s support for Taiwan while encouraging dialogue between Taipei and Beijing to ease tensions. During a meeting with President Tsai Ing-wen (蔡英文), Bucaro said that his five-day visit to Taiwan is testament to Guatemala’s support for the nation in an increasingly volatile world. President Tsai Ing-wen, right, meets Guatemalan Minister of Foreign Affairs Mario Bucaro at the Presidential Office in Taipei yesterday. Photo: CNAHe also encouraged Taipei to engage in dialogue with Beijing, saying that the Guatemalan government firmly believes that talks are necessary to defuse tensions. Guatemala will “always support Taiwan” and has showed solidarity with Taiwan since the two countries established diplomatic relations in 1933, Bucaro said.

Micron seeks US tax breaks for US$160bn chip plantMicron Technology Inc is considering to spend as much as US$160 billion on a new semiconductor factory in central Texas. The company filed applications with the Texas Comptroller’s office to lock down property-tax breaks in exchange for a potential new facility near Lockhart, an exurb 48km south of Austin. It would be built in eight phases with construction beginning in January next, the application showed. There is no guarantee that Micron will make an investment of that magnitude, and a company spokeswoman declined to comment on the potential spending. However, companies like Micron are rushing to file applications before a tax-break program

China irate over Kyiv pro-Taiwan groupDISPUTE BREWING: Beijing is worried Kyiv’s defense against Russia could become a model for Taiwanese resistance against China, Ukrainian lawmaker Inna Sovsun saidBy Liu Tzu-hsuan / Staff writer, with CNAThe Chinese embassy in Ukraine attempted to thwart the Ukrainian parliament’s plan to establish a pro-Taiwan group, Newsweek magazine reported on Saturday. Newsweek reported that “a diplomatic dispute is brewing between Ukraine and China” as Beijing lodged a protest against the newly established group at the Ukrainian embassy in China last week. Ukrainian lawmaker Inna Sovsun, another member of the group and a long-term supporter of Taiwan, said that “China is worried Ukraine’s defense against Russia could become a model for Taiwanese resistance against China,” the magazine reported. She said that group members “coordinated the creation of the group through different layers of government” so as not to cause trouble for the executive. What we want from them is not to help Russia,” Sovsun was quoted by Newsweek as saying.