Agency to ask firm to fix ‘flaw’ in new train doors
Agency to ask firm to fix ‘flaw’ in new train doorsBy Shelley Shan / Staff reporterThe Taiwan Railways Administration plans to ask Hyundai Rotem to address a “craftsmanship flaw” in doors of EMU900 commuter trains, after they opened on their own several times over the past year, the agency said yesterday. Sixteen EMU900 trains have been delivered, of which 15 have been in operation since April last year. The agency is still testing one EMU900 train. On Sunday, three doors of an EMU900, train No. On Jan. 1, doors on another EMU900 train were unable to open normally.
Source:Taipei Times
February 22, 2022 03:58 UTC
Wall Street retreats on Ukraine jitters
“This is a confused market, confused about Ukraine, confused about how aggressive the Fed is going to be, and pretty much ignoring very strong earnings results from the fourth quarter,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. The indices logged weekly declines for the second straight week, buffeted by rising tensions between Moscow and the West over Ukraine. For the week, the S&P 500 fell 1.6 percent, the Dow lost 1.9 percent and the NASDAQ declined 1.8 percent. About 78 percent of the 417 S&P 500 companies have in this reporting season posted quarterly earnings above analyst estimates as per Refinitiv data. The S&P 500 posted eight new 52-week highs and 28 new lows; the NASDAQ Composite recorded 19 new highs and 395 new lows.
Source:Taipei Times
February 20, 2022 02:35 UTC
European stocks retreat on Russia-Ukraine woes
European stocks retreat on Russia-Ukraine woesReutersEuropean shares ended lower on Friday and dropped nearly 2 percent this week with travel and banking shares leading the declines over caution around rising tensions between Russia and Ukraine ahead of the weekend. The pan-European STOXX 600 fell 0.8 percent and dropped 1.9 percent for the week with travel and banking shares the top weekly losers. “There is a higher probability either of a diplomatic solution or some kind of an incursion, but fairly contained,” PineBridge Investments multiasset manager Hani Redha said. Banking shares have come under pressure this week as rising conflict fears pushed investors toward safer assets, driving short-term European yields lower, which have fallen 12 basis points this week. Finnish drug manufacturer Orion Corp jumped 22.2 percent to the top of STOXX 600 following positive trial results for its prostate cancer treatment.
Source:Taipei Times
February 20, 2022 02:35 UTC
Intel sees sales picking up in coming years
Intel sees sales picking up in coming yearsBloombergIntel Corp expects revenue to rise by just under 2 percent this year, with growth picking up in later years as CEO Pat Gelsinger pursues a turnaround of the once-dominant chipmaker. Intel Corp CEO Pat Gelsinger holds a wafer as he speaks onstage at the company’s investor meeting in San Francisco on Thursday. While the chip industry’s sales gained 26 percent last year to a record US$556 billion, Intel posted a 4 percent decline. The biggest chunk of Intel’s sales still comes from the personal-computer market, where its processors remain the most important component of the majority of laptops and desktops. Meanwhile, its outsourced chip business is still in the early stages — “just beginning,” Gelsinger said.
Source:Taipei Times
February 18, 2022 23:29 UTC
EDITORIAL: Taiwan’s sovereignty on KMT’s radar
EDITORIAL: Taiwan’s sovereignty on KMT’s radarChinese state media on Saturday last week labeled two Chinese Nationalist Party (KMT) legislators as “secret Taiwanese independence advocates.”The report in the People’s Political Consultative Daily said that KMT legislators Lin Wei-chou (林為洲) and Charles Chen (陳以信) colluded with external antagonists to act against China’s interests. As China now appears to be equating ROC sovereignty claims by the KMT with ambitions for Taiwan’s formal independence, the KMT has lost its trump card, which relied on keeping details of “one China” ambiguous. According to sources, Chinese academics are saying that under unification, Taiwan could retain powers of governance, but should be an entity without sovereignty, similar to Hong Kong and Macau. It might also feel that allowing ambiguity on ROC sovereignty has made unclear its goal of unification by applying its “one country, two systems” formula to Taiwan. Neither the “1992 consensus” nor “one country, two systems” has any place in Taiwan’s future, and the KMT and China must accept that.
Source:Taipei Times
February 18, 2022 22:06 UTC
Chinese Olympic official makes political statement
Chinese Olympic official makes political statementReuters, BEIJINGPolitics yesterday entered the Olympics when an official for the Beijing Winter Games spoke about Taiwan and Xinjiang, the first such statements by the host since the competition started. International Olympic Committee (IOC) spokesman Mark Adams was asked a question at the daily news conference about Taiwan’s presence at the closing ceremony on Sunday. Following his comments, Beijing Games spokesperson Yan Jiarong said: “There is only one China.”Her statement reiterates China’s stance toward democratically governed Taiwan. Later, Yan again insisted on making a statement about Xinjiang when a reporter directed a question to the IOC about material from China’s Xinjiang region being used in clothing. The IOC has 206 members, including the Peoples’ Republic of China and the National Olympic Committee of Chinese Taipei,” Yan said.
Source:Taipei Times
February 17, 2022 22:14 UTC
Support not affected by Ukraine: US
Support not affected by Ukraine: USBACKING ‘ROCK SOLID’: Indo-Pacific security is a global concern, and the US would ‘vigorously pursue’ the world’s strategic goals in standing against China, a US official saidStaff Writer, with CNA, WashingtonThe US has reaffirmed its commitment to Taiwan amid concerns that a possible Russian invasion of Ukraine could have domino effects for security in the Indo-Pacific region. Photo: REUTERS“The United States’ support for Taiwan is rock solid. We will continue to stand with our friends and allies to advance our shared prosperity security, and values,” he said. The US Department of State official was addressing concerns that the focus on Ukraine could lead to a permanent strategic shift by Washington away from the Indo-Pacific region. After earlier stating that the US would deepen ties with “democratic” Taiwan, Kritenbrink nixed the idea of allowing China into any future Indo-Pacific economic framework.
Source:Taipei Times
February 17, 2022 22:14 UTC
COVID-19: Moderna says it is to set up Taiwan vaccine unit
Moderna has signed a contract with Taiwan to offer 20 million COVID-19 vaccine and booster doses this year, and another 15 million next year, the company said in a statement. An employee holds a vial of the Moderna COVID-19 vaccine at Northwell Health’s Long Island Jewish Valley Stream hospital in New York on Dec. 21, 2020. Photo: ReutersIn Taiwan, its COVID-19 vaccine has been approved for people aged 18 or older, while its booster shots can be given to those who had their second dose five months prior, it said. Moderna did not say whether it would consider manufacturing its COVID-19 vaccine in Taiwan, but the Central News Agency (CNA) yesterday reported that the government is attempting to arrange a technology transfer for the vaccine. Moderna said that the addition of the four subsidiaries comes as it continues to scale up the manufacturing and distribution of its COVID-19 vaccine, and future mRNA vaccines and therapeutics.
Source:Taipei Times
February 16, 2022 22:09 UTC
Shining’s new projects total NT$30bn
The plan includes projects valued at NT$10.8 billion in Taiwan and NT$19 million in Chengdu, China, Lai said at a gathering in Taipei. He said he believes that Taiwan’s policymakers would introduce more unfavorable local property market measures, as real-estate lending has failed to slow down. Shining Building Business Co chairman Lai Cheng-i stands in front of a model of a construction development in Taipei on March 18 last year. The Changhua project has 238 apartment units on plot of 1,500 ping (4,959m2) and could generate NT$2.8 billion in sales, the company said. In the meantime, Shining aims to focus on urban renewal projects in Taipei and New Taipei City, as such undertakings are not affected by credit controls, Lai said.
Source:Taipei Times
February 16, 2022 22:09 UTC
Hon Hai targets Southeast Asian digital healthcare
Hon Hai targets Southeast Asian digital healthcareStaff writer, with CNAHon Hai Precision Industry Co (鴻海精密), which has intensified efforts to extend its reach beyond contract production, has set its sights on the Southeast Asian market for digital healthcare devices, a senior company official said yesterday. Chiang made the comments after Hon Hai earlier in the day signed an agreement with Taiwan Biophotonic Corp (臺醫光電) and the government-sponsored Industrial Technology Research Institute (ITRI, 工業技術研究院) to develop a long-distance healthcare monitoring platform. Photo: CNAUnder the agreement, the three partners are to build a digital healthcare ecosystem in Taiwan. Hon Hai aims to take advantage of its strength in information and communications technology to develop digital healthcare devices and create value-added smart medicare gadgets, Chiang said. Chiang said that Hon Hai would seek further cooperation in developing heartbeat, blood oxygen and blood sugar monitors, as well as electrocardiography devices.
Source:Taipei Times
February 16, 2022 03:52 UTC
Drugs have dangerously polluted the world’s rivers, scientists warn
Drugs have dangerously polluted the world’s rivers, scientists warnPharmaceutical pollution poses ‘global threat to human and environmental health,’ major study findsBy Damian Carrington / The GuardianHumanity’s drugs have polluted rivers across the entire world and pose “a global threat to environmental and human health,” according to the most comprehensive study to date. The scientists measured the concentration of 61 active pharmaceutical ingredients (APIs) at more than 1,000 sites along 258 rivers and in 104 countries, covering all continents. New research shows that Iceland is one of only two places covered in the study that is not polluted with pharmaceutical ingredients. Drug pollution was already known to be harming wildlife, from antidepressants causing starlings to feed less and contraceptive drugs reducing fish populations. They are also increasing the number of drugs measured and hope to assess levels in rivers across the year in order to examine seasonal trends.
Source:Taipei Times
February 15, 2022 22:13 UTC
Axis Bank set to buy Citigroup’s India retail unit
Axis Bank set to buy Citigroup’s India retail unitBloombergAxis Bank Ltd is nearing a deal to buy Citigroup Inc’s India retail banking business in a transaction that could be valued at about US$2.5 billion, people familiar with the matter said. The deal would include a cash component of less than US$2 billion, accounting for the consumer business’ liabilities, they said. Axis Bank would need about six months to merge its consumer business in the country with Citigroup’s, a different person said. Representatives for Axis Bank and Citigroup declined to comment. Axis Bank, India’s third-largest private-sector lender, has been trying to boost retail loans to tap pent-up demand after the first two waves of COVID-19.
Source:Taipei Times
February 15, 2022 03:57 UTC
Taiwan’s Tseng Chun-hsin wins second Challenger
Taiwan’s Tseng Chun-hsin wins second ChallengerStaff writer, with CNATaiwan’s Tseng Chun-hsin on Sunday won his second ATP Challenger title after defeating Borna Gojo of Croatia in a pulsating Bengaluru Open 1 men’s singles final in India. Taiwan’s Tseng Chun-hsin holds the Bengaluru Open trophy in Bengaluru, India, on Sunday. The Taiwanese tennis champion grabbed the first two games in the second set, with a break in the first. It was difficult to adjust initially and control the ball as it was getting dark and fast,” Tseng said. Tseng enters the Bengaluru Open 2 ATP Challenger singles event seeded eighth.
Source:Taipei Times
February 15, 2022 03:55 UTC
Singapore Airshow returns as industry recovers slowly
Singapore Airshow returns as industry recovers slowlyReuters, SINGAPOREThe aviation industry’s slow recovery in the Asia-Pacific region is to cast a shadow over the Singapore Airshow this week, despite signs of improvement, as concerns over the Omicron variant of SARS-CoV-2 recede. Military and commercial aircraft are yesterday parked to be exhibited at the Singapore Airshow. Planemakers Airbus SE, Boeing Co and Lockheed Martin Corp are planning to send senior executives to the Singapore Airshow from tomorrow to Friday, using it as an opportunity for rare face-to-face meetings with customers. Some industry executives have pulled out, concerned about restrictions including daily COVID-19 testing, no intermingling during mealtime, mandatory masks in the tropical heat and hotel isolation if they test positive. Boeing last month launched a freighter version of its 777X wide-body that would compete against Airbus’ A350 freighter.
Source:Taipei Times
February 14, 2022 03:52 UTC
Billions in Taiwan funds at risk in Russia, Ukraine
Billions in Taiwan funds at risk in Russia, UkraineFSC REPORT: Insurers had the highest risk exposure in Russia at NT$14bn, while banks’ credit risk exposure was NT$5.285bn to Russia and NT$6m to UkraineStaff writer, with CNAWith the possibility of military conflict between Russia and Ukraine rising steeply, coupled with concerns about a potential disruption to the global market, the Financial Supervisory Commission (FSC) has conducted an assessment of Taiwan’s risk exposure in banking, insurance and securities in the two countries. Taiwanese insurers had no risk exposure in Ukraine, but their risk exposure in Russia was as high as NT$147 billion, the bureau said. The securities bureau estimated that the risk faced by private investors using domestic funds to invest in Russia totaled NT$21.4 billion, while the risk faced by those using overseas funds was NT$35.4 billion. The risk exposure for private investors using domestic funds to invest in Ukraine was NT$5.08 billion, while the risk faced by those using overseas funds was NT$15 billion. Overall, Taiwan had a financial risk of NT$209.085 billion in Russia and NT$20.086 billion in Ukraine, the commission said.
Source:Taipei Times
February 13, 2022 22:08 UTC