Oil posts its biggest weekly decline in more than a decade
Oil posts its biggest weekly decline in more than a decadeBloombergOil posted its biggest weekly loss in more than 10 years after the administration of US President Joe Biden ordered a release of US strategic reserves. Photo: ReutersThe US plans to release 1 million barrels a day for six months. Biden expects allies to release an additional 30 million to 50 million barrels. As much as 180 million barrels might be released this time. Also contributing to this week’s slide were concerns about Chinese demand as the world’s biggest oil importer implements a series of lockdowns to curb a resurgence of COVID-19.
Source:Taipei Times
April 02, 2022 20:45 UTC
European shares rise slightly after bank stocks rally
European shares rise slightly after bank stocks rally‘PEAK INFLATION’: When inflation passes its highest in Europe, pressure on long bond yields would ease, although the market would change, an analyst saidReutersEuropean shares on Friday rose slightly after sluggishness early in the day as a rally in bank stocks helped outweigh worries about economic growth and inflation, with Europe facing a deadline to start paying for Russian gas in rubles. Russian President Vladimir Putin threatened to cut off gas supplies unless paid in local currency from Friday — a move that could exacerbate an energy crunch in the continent as Russian gas imports account for about 40 percent of Europe’s consumption. “The key question for Q2, maybe even Q3, is when are we going to get the peak inflation,” Joshi said. Technology stocks were one of the worst performers in the first quarter on inflation worries, down 17 percent. Analysts said that inflation would put pressure on the European Central Bank (ECB), which has thus far been reluctant to lift interest rates.
Source:Taipei Times
April 02, 2022 20:45 UTC
Michele Bullock named deputy governor at RBA
Michele Bullock named deputy governor at RBABloombergMichele Bullock yesterday was named as the Reserve Bank of Australia’s (RBA) first female deputy governor, propelling her to the front of the line to succeed RBA Governor Philip Lowe. Bullock was appointed to a five-year term as the central bank’s No. “Bullock will become the first female deputy governor of the RBA in their 62-year history,” Australian Treasurer Josh Frydenberg said in announcing her appointment. “Michele Bullock is a strong appointment,” said John Hawkins, who previously worked at the RBA, Australian Treasury and the Bank for International Settlements. Ong said that unlike previous deputy governors, Bullock has not spent time overseeing economics.
Source:Taipei Times
April 02, 2022 03:24 UTC
Pakistan rack up highest run chase to level series
Pakistan rack up highest run chase to level seriesAFP, LAHORE, PakistanSkipper Babar Azam and opener Imam-ul-Haq on Thursday smashed brilliant centuries to help Pakistan pull off their highest one-day international run chase in a six-wicket triumph over Australia in Lahore. Ben McDermott cracked a maiden one-day international century in Australia’s imposing total of 348-8 on a flat pitch. Pakistan’s Babar Azam, right, plays a shot as Australia wicketkeeper Alex Carey looks on in the second one-day international in Lahore, Pakistan, on Thursday. It’s a proud moment to win at my home ground,” said Azam, who is the fastest man to reach 15 one-day international tons in 83 innings, three quicker than Hashim Amla of South Africa. Haq added 111 for the second wicket with Azam off 92 balls.
Source:Taipei Times
April 01, 2022 22:26 UTC
CECC simplifies vaccination status verification
CECC simplifies vaccination status verificationBOOSTER REQUIRED: The booster vaccination rate is just below 50 percent, and most received them recently, so there is no immediate plan for fourth doses, the CECC saidBy Lee I-chia / Staff reporterThe Central Epidemic Command Center (CECC) yesterday updated its application mechanism for entities seeking to verify people’s digital COVID-19 vaccination certification. The station is set to serve as a temporary vaccination station again on Saturday. They would be enabled to scan people’s digital COVID-19 vaccination certificate and immediately see whether the person has received the three doses required, he said. Chuang said people who have been vaccinated in other countries can register their vaccination status with their local health departments and their digital vaccination certificate would be updated accordingly. Meanwhile, the CECC clarified that people need to book an appointment to see a doctor at a contracted clinic before receiving a government-funded at-home rapid COVID-19 test kit.
Source:Taipei Times
March 30, 2022 20:40 UTC
Premier touts ‘substantive’ US relations
Premier touts ‘substantive’ US relationsNOT OVERNIGHT: Su Tseng-chang told legislators that establishing diplomatic or other formal ties with the US would ‘come naturally when the conditions are ripe’By Su Yung-yao and Kayleigh Madjar / Staff reporter, with staff writer and CNATaiwan is working to strengthen “substantive” relations with the US, Premier Su Tseng-chang (蘇貞昌) said yesterday when asked about the future of the relationship following comments from prominent US politicians calling for closer ties between the two nations. Formal diplomatic recognition “admittedly cannot be achieved overnight,” but “we take strengthening the substantive relationship between the two sides as our greatest effort at present,” Su told a hearing at the Legislative Yuan in Taipei. He was responding to a question from Taiwan People’s Party Legislator Chiu Chen-yuan (邱臣遠) over whether the government intends to maintain “pragmatic” relations with Washington, or is looking to establish more formal diplomatic ties. Pompeo repeated his call in an interview with the Washington-based Hudson Institute published on Monday. “We are committed to safeguarding Taiwan’s democracy and to working with Taiwan to safeguard democracies around the world,” Wilson said.
Source:Taipei Times
March 29, 2022 22:17 UTC
‘We’re family:’ meet Thailand’s ‘Chicano’ community
‘We’re family:’ meet Thailand’s ‘Chicano’ communityMexican-American Chicano subculture has made its way to Asia, with people adopting the sounds, styles and swagger that originated in the USBy Pitcha Dangprasith / AFP, BANGKOKThe crowd roars in the tightly packed room as the broad-shouldered, tattooed men stop pummeling a young recruit and smother him with hugs — completing his initiation into one of Thailand’s “Chicano” gangs. Dressed in baggy T-shirts and jeans, with bandanas and wraparound sunglasses only partially obscuring their intricate tattoos, Thais can now be seen on Bangkok’s sweaty streets celebrating a fusion of their own and Chicano culture each weekend. “I just want to combine a Thai touch with the Chicano style to make this lifestyle simple and accessible,” explained gang leader Chalakorn “Leng” Arttanasiri, dismounting from his Harley Davidson. We’re in Thailand.”‘LAW-ABIDING CITIZENS’“We’re law-abiding citizens who just love the Chicano subculture,” said Pongtep Singto, a lowrider car aficionado. Ultimately, the gang is about celebrating Chicano subculture together.
Source:Taipei Times
March 18, 2022 22:12 UTC
COVID-19: China weighing ‘zero COVID-19’ exit
COVID-19: China weighing ‘zero COVID-19’ exit‘A STEP WE MUST TAKE:’ Trying to coexist with the virus would likely lead to a wave of infections, due in part to the ineffectiveness of Chinese vaccines, an expert saidAP, BEIJINGEven as authorities lock down cities in China’s worst COVID-19 outbreak in two years, they are looking for an exit from what has been an arguably successful, but onerous disease prevention strategy. A statement by Chinese President Xi Jinping (習近平), a study, interviews with Chinese public health staff and public messaging by government-affiliated experts indicate that China is exploring ways of slowly easing its zero-tolerance approach — with the emphasis on slowly. A health worker yesterday poses for a photograph at a COVID-19 testing site at a residential compound in Shanghai, China. “We should carve a very clear path and not spend all our time debating whether we should continue zero COVID-19 or coexist” with the virus. Moreover, China is using only domestically developed COVID-19 vaccines that are less effective than those developed by drugmakers in other countries.
Source:Taipei Times
March 18, 2022 22:11 UTC
EDITORIAL: KMT-TPP cooperation doubtful
EDITORIAL: KMT-TPP cooperation doubtfulThe Chinese Nationalist Party (KMT) has not ruled out cooperating with other opposition parties in the local elections in November, especially in districts that are difficult to win, KMT Chairman Eric Chu (朱立倫) said on Friday. Taipei Mayor Ko Wen-je (柯文哲), who is chairman of the Taiwan People’s Party (TPP), said he had not talked to Chu about the issue, and that the scope of the KMT’s intended cooperation remains unclear. Taiwan’s opposition parties should also unite and “remove” the Democratic Progressive Party (DPP), he said, adding that defeating the DPP would be more important than individual opposition parties’ gains. Chiang on Friday dismissed the idea of KMT-TPP cooperation, saying that the public might see it as a quid pro quo and it could lead to a decline in support for both parties. The KMT and the TPP might need to develop clearer positions before they can see whether they can cooperate.
Source:Taipei Times
March 12, 2022 22:01 UTC
Love for Ukraine and wrath for Russia at US eateries
Blocks away, at the city’s long-popular Russia House restaurant, five windows have been smashed in and owners are thinking they might not reopen. People line up outside Ukrainian-owned D Light Cafe and Bakery in Washington on Saturday last week. Anastasiia and Vira Derun, sisters and owners of D Light Cafe and Bakery, sit in front of a “Stand With Ukraine” sign in Washington on Tuesday last week. The owners had been on the verge of reopening after a two-year COVID-19 hiatus when Russian President Vladimir Putin launched his invasion of Ukraine. Its former name “just brings pain to people of Ukraine and others, even Russians,” Monamour said.
Source:Taipei Times
March 12, 2022 22:01 UTC
Smartphones to return to design classic foldables
Star of the early 2000s, the flip-phone is making a comeback, with the big names of the industry hoping the high-tech new version — the foldable smartphone — is on the verge of going mainstream. Samsung has been the pioneer in the sector, presenting the first foldable smartphone at the Barcelona conference three years ago. The South Korean firm accounted for 87 percent of foldable phone sales last year, analysts at Display Supply Chain Consultants (DSCC) said. “Apple is a hugely influential company,” said Bendre, estimating that foldable sales would surpass 60 million when it gets involved. “This will add further credibility and help open up the foldable market to iPhone customers,” DSCC cofounder and chief executive officer Ross Young said.
Source:Taipei Times
March 04, 2022 02:46 UTC
Cabinet approves TRA’s transition to corporation
Cabinet approves TRA’s transition to corporationBy Lee Hsin-fang and Jake Chung / Staff reporter, with staff writerThe Executive Yuan yesterday passed a draft regulation that would, if ratified by the Legislative Yuan, transform the Taiwan Railways Administration (TRA) into the state-owned Taiwan Railways Corp. The railway agency has an outstanding debt of NT$420.8 billion (US$15 billion) divided into four categories, which would each be handled differently. Executive Yuan spokesman Lo Ping-cheng speaks to reporters in Taipei yesterday about Taiwan Railways Administration’s corporatization. Premier Su Tseng-chang (蘇貞昌), who chaired yesterday’s weekly Cabinet meeting, has asked Minister of Transportation and Communications Wang Kwo-tsai(王國材) to address TRA employees’ concerns about the agency’s debt and employees’ benefits. Su said that Wang would facilitate the reforms, adding that other department heads have been asked to offer the TRA assistance in the transition.
Source:Taipei Times
March 04, 2022 02:46 UTC
Housing deals drop 34.9% in special municipalities
The number of transactions totaled 15,646 in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung. All municipalities, with the exception of Taipei, saw a retreat of more than 30 percent, local government data showed. Taipei posted a decline of 29.6 percent with 1,915 deals. It might introduce more tightening measures to induce a soft landing for housing prices as public complaints over unaffordability mount. Housing transactions would gain momentum this month, the analyst said, adding that developers and builders are about to launch spring promotion campaigns.
Source:Taipei Times
March 03, 2022 03:01 UTC
Stakhovsky hopes not to use gun to defend Ukraine
Stakhovsky hopes not to use gun to defend UkraineAFP, LONDONUkrainian tennis player Sergiy Stakhovsky hopes he does not have to use a gun after joining the fight to protect his country from the Russian invasion. Stakhovsky, who famously beat Roger Federer at Wimbledon in 2013, is the latest Ukrainian sports star to defend his country. Ukraine’s Sergiy Stakhovsky returns to Hungary’s Marton Fucsovics in their Davis Cup men’s singles match in Budapest on Sept. 15, 2019. I pretty much hope that I won’t have to use the gun,” Stakhovsky told BBC Radio 4’s Today program. They don’t understand war.
Source:Taipei Times
March 03, 2022 03:01 UTC
US delegation arrives for peace and security talks
US delegation arrives for peace and security talksROCK-SOLID COMMITMENT: A senior official in the Biden administration said that the two-day visit is intended to ‘demonstrate our continued robust support for Taiwan’Staff writer, with CNAA delegation led by former chairman of the US Joint Chiefs of Staff Mike Mullen arrived in Taipei yesterday afternoon for discussions with top-level officials on regional peace and security, among other topics. The delegation, which includes four other former US defense and security officials and their staffers, departed for Taiwan on a US government aircraft on Monday and arrived at Taipei International Airport (Songshan airport) at 4:13pm yesterday. Led by Mullen, the delegation also includes Meghan O’Sullivan, a former deputy national security adviser under former US president George W. Bush, and Michele Flournoy, a former undersecretary of defense in former US president Barack Obama’s administration. The delegation is scheduled to meet with President Tsai Ing-wen (蔡英文) and Minister of National Defense Chiu Kuo-cheng (邱國正) today to discuss regional peace and stability, Taiwan-US relations and various areas of bilateral cooperation, the government said. Meanwhile, a Taiwanese national security official, who spoke on condition of anonymity, on Monday told the Central News Agency that Biden’s selection of former senior defense and security officials was meant to offer “reassurance” of the US’ commitment to peace and security in the Taiwan Strait and the Indo-Pacific region.
Source:Taipei Times
March 02, 2022 04:08 UTC