Taiwan vows to help as US eyes Indo-Pacific shift
Ministry of Foreign Affairs spokeswoman Joanne Ou speaks at a news conference at the ministry in Taipei yesterday. The nation “solemnly condemns China’s continued use of undue political bullying and economic coercion to exert pressure on Lithuania,” Ou told the news conference. China is through multiple channels attempting to change the policy of mutual representation and strengthening of economic relations between Taiwan and Lithuania, Ou said. “Taiwan will stand firmly with Lithuania and, together with our international allies, will take practical steps to support Lithuania through these difficulties,” Ou said. “We will continue to deepen our friendly and close relations with Lithuania, demonstrating the solidarity and resilience of democratic nations.”
Source:Taipei Times
February 10, 2022 22:00 UTC
Manila online casinos vacate half of their offices
Manila online casinos vacate half of their officesBloombergChina-centric online casinos vacated half of their offices in the Philippine capital during the COVID-19 pandemic, as travel restrictions, taxes and precarious relations between the two countries throttled their operations. Before the pandemic, the US$8 billion industry and its tens of thousands of migrant workers boosted property prices across Metro Manila and its surrounds. Operators employ mostly Chinese to answer queries and process payments for clients who place bets on livestreamed games of baccarat and fan-tan. Vacancy might ease should online casinos return and add to demand from outsourcing companies, he said. As travel restrictions ease, “it’s really up to Philippine-China relations, with respect to the level of tolerance in allowing the industry to prosper,” Andaya said.
Source:Taipei Times
February 09, 2022 22:01 UTC
Annual ‘Cycling for a Free Tibet’ rolls out in Taipei
Annual ‘Cycling for a Free Tibet’ rolls out in TaipeiBy Jason Pan / Staff reporterTibetan groups and rights advocates were yesterday joined by independent Legislator Freddy Lim (林昶佐) and New Power Party Legislator Chiu Hsien-chih (邱顯智) in launching this year’s “Cycling for a Free Tibet” campaign ahead of next month’s main event. Supporters of the Human Rights Network for Tibet and Taiwan ride bicycles in Taipei yesterday as they launch this year’s “Cycling for a Free Tibet” campaign. Photo: Tu Chien-jung, Taipei TimesThe “Cycling for a Free Tibet” campaign began in 2011 to raise public awareness of the pain and suffering of Tibetans’ plight, he said. “The Beijing regime has carried out oppression and human rights abuse against Tibetans, Uighurs and Hong Kongers. It is the right principle for a free and democratic country with respect for human rights to follow, Chiu said.
Source:Taipei Times
February 09, 2022 21:57 UTC
Industrial output a drag on PMI
Industrial output a drag on PMIOUTLOOK UNCLEAR: GDP growth of more than 4 percent this year hinges on whether service-focused sectors emerge from the pandemic, the CIER president saidBy Crystal Hsu / Staff reporterThe official manufacturing purchasing managers’ index (PMI) last month was 56.2, above the expansion mark for the 19th consecutive month, but 3.1 points lower than December, dragged by slack industrial output, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. “The latest PMI data represented the slowest expansion since September 2020 after the sub-index on industrial output slipped into the contraction zone,” CIER president Chang Chuang-chang (張傳章) said, citing the institute’s monthly survey. The sub-index on inventory added 2.2 points to 56.7, while customers’ inventory rose 2.4 points to 50.7, it showed. The non-manufacturing index fell 4.7 points to 53.9, suggesting business improvement ahead of the Lunar New Year holiday, the institute said in a separate survey. The reading on the six-month business outlook sub-index slumped 11.6 points to 53, as restaurants, hotels, retailers, telecoms and logistic service providers are expecting a downturn, he said.
Source:Taipei Times
February 08, 2022 22:08 UTC
Hotai eyeing 5 percent sales growth
Hotai is aiming to sell 164,000 vehicles this year — 155,000 sedans and crossovers, and 9,000 commercial vehicles — it said in the statement. “Through offering a comprehensive lineup of vehicles, Hotai is setting a goal of selling 155,000 units of sedans and crossovers. That would be the highest volume of such vehicles sold in Taiwan in the company’s history,” Hotai said in the statement. That would represent annual growth of 2.27 percent from 449,800 new vehicles sold last year. Hotai said the global chip crunch and the development of the COVID-19 pandemic would be major factors for the auto market this year.
Source:Taipei Times
February 08, 2022 22:08 UTC
Toshiba to split into two companies
Toshiba to split into two companiesSPIN-OFF: The Japanese company dropped its plan to split into three firms, citing higher-than-expected costs and an extensive process to list the two new entitiesAFP, TOKYOToshiba Corp yesterday announced plans to split into two companies, revising a controversial proposal to divide into three following a tumultuous period for the storied industrial conglomerate. The logo of Toshiba Corp at its headquarters in Tokyo is pictured yesterday. The firm also said it would unload its stake in air-conditioning business Toshiba Carrier Corp, and seek to sell its elevator and lighting units. Toshiba initially unveiled a plan to split into three in November last year, in what analysts called a test case for other Japanese giants. A two-way split instead “can significantly reduce separation costs, secure financial soundness for each company, and significantly reduce spin-off uncertainty,” the company said.
Source:Taipei Times
February 08, 2022 03:56 UTC
Mega, First aiming for stable earnings growth
Mega, First aiming for stable earnings growthFOCUS: Mega Financial said that rate hikes would allow it to pursue better asset returns, while First Financial said that it would work on deepening customer relationshipsBy Crystal Hsu / Staff reporterState-run Mega Financial Holding Co (兆豐金控) and First Financial Holding Co (第一金控) yesterday said that they are aiming for stable profit growth this year, despite lingering uncertainties. Mega Financial said that the operating environment would turn favorable for financial institutions this year after major central banks worldwide disclosed plans to raise interest rates, which would widen interest spreads and profit margins. Mega Financial chairman Michael Chang (張兆順) urged his colleagues to meet the growth challenges by embracing change. Mega Bank president Robert Tsai (蔡永義) said that the Fed could raise interest rates three to five times this year, which would benefit the Taiwanese lender’s operations. First Financial Holding said that it is seeking to bolster its operating resiliency and raise profit contributions from non-bank subsidiaries.
Source:Taipei Times
February 07, 2022 22:09 UTC
Cyclone Batsirai displaces 48,000 in Madagascar
Cyclone Batsirai displaces 48,000 in MadagascarAFP, MAHANORO, MadagascarCyclone Batsirai killed at least 10 people and displaced nearly 48,000 when it struck Madagascar overnight, the Madagascan National Office of Risk and Disaster Management said on Sunday. Parts of the country were lashed with heavy rains and wind before the cyclone made landfall in Mananjary. A girl holds a baby outside a damaged house in Fianarantsoa, Madagascar, on Sunday after Cyclone Batsirai caused flooding in the area. Batsirai made landfall late on Saturday as an “intense tropical cyclone,” packing winds of 165kph, said Faly Aritiana Fabien of the disaster management agency. The Meteo-France weather service had earlier predicted that Batsirai would pose a “very serious threat” to Madagascar.
Source:Taipei Times
February 07, 2022 22:09 UTC
EDITORIAL: Keep economic expectations in check
EDITORIAL: Keep economic expectations in checkThe nation’s economy expanded 4.88 percent in the fourth quarter of last year, bringing the year’s GDP growth to 6.28 percent, the Directorate-General of Budget, Accounting and Statistics reported late last month. The nation’s growth momentum surprisingly accelerated after GDP expanded 3.11 percent in 2020, due to robust exports and domestic investments. While their growth benefited from improved export performance and private consumption, the rise was boosted by a low comparison base. The Omicron variant is creating obstacles worldwide, with the global economy in a weaker position than previously expected, according to the IMF’s latest World Economic Outlook report released last month. Taiwan’s manufacturing sector is to remain one of the key pillars of the economy this year on the back of robust global demand.
Source:Taipei Times
February 07, 2022 04:02 UTC
Fuel prices to stay flat for second week in a row
Fuel prices to stay flat for second week in a rowBy Chen Cheng-hui / Staff reporterCPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday said they would continue to keep gasoline and diesel prices unchanged this week for a second consecutive week. This is despite a seventh weekly rise in global crude oil prices amid tensions in Ukraine and a tight supply in the US. Global crude oil prices continued to climb last week on a combination of factors that included a cold snap in Texas and rising concerns about the state’s shale oil production. The refiner said its crude oil costs last week rose 2.1 percent, following an increase of 1.23 percent the previous week, based on its floating oil price formula. To comply with government policy, CPC said that it would not raise fuel prices so that consumer costs would remain stable through the Lunar New Year holiday.
Source:Taipei Times
February 07, 2022 02:25 UTC
China ignoring player’s human rights, coach says
China ignoring player’s human rights, coach saysReuters, BEIJINGThe coach of the Finnish men’s ice hockey team yesterday accused China of not respecting a player’s human rights, saying that Marko Anttila was being kept in COVID-19 isolation for no reason. Finland head coach Jukka Jalonen made the remark shortly after Germany said it was satisfied with a swift improvement of isolation conditions for their three athletes who tested positive for COVID-19 and are in quarantine. When Anttila arrived in China he tested positive and was immediately taken to an isolation hotel. “We know that he’s fully healthy and ready to go and that’s why we think that China, for some reason, they won’t respect his human rights and that’s not a great situation,” Jalonen said. “These isolation decisions are not based on medicine or science, it’s more cultural and political decisions,” Voltonen said.
Source:Taipei Times
February 06, 2022 22:01 UTC
US House backs sweeping China competition bill
US House backs sweeping China competition billReuters, WASHINGTONThe US House of Representatives on Friday narrowly passed a multibillion-dollar bill aimed at increasing US competitiveness with China and boosting domestic semiconductor manufacturing, despite Republican opposition. The House bill authorizes almost US$300 billion for research and development, including US$52 billion to subsidize semiconductor manufacturing and research into the key components. The House bill also includes some pro-Taiwan provisions previously initiated by lawmakers. These include the draft “Taiwan Fellowship Act,” “Taiwan Diplomatic Review Act,” “Taiwan Peace and Stability Act” and “Taiwan International Solidarity Act,” as well as the Taiwan Allies International Protection and Enhancement Initiative (TAIPEI) Act. The ministry said it would monitor the follow-up review of the House bill and maintain close contact with friends in Congress to deepen the close partnership between the two countries.
Source:Taipei Times
February 05, 2022 22:00 UTC
Australia’s cricket coach delivers shock resignation
Australia’s cricket coach delivers shock resignationAFP, SYDNEYAustralian men’s cricket coach Justin Langer yesterday announced his abrupt departure, just weeks after his side trounced archrivals England in a lopsided Ashes series and months after they won the T20 World Cup. Australia’s cricket coach Justin Langer speaks to reporters in the Albion suburb of Brisbane, Australia, on May 3, 2019. Sports management company DSEG announced Langer’s departure in a terse statement saying: “Our client Justin Langer has this morning tendered his resignation as coach of the Australian men’s cricket team.”“The resignation follows a meeting with Cricket Australia last evening. Langer took the job in 2018, with Australian cricket at its lowest ebb for decades in the wake of the sandpaper-gate cheating affair that shocked the country. Langer was part of a golden era for Australian cricket, with greats such as Shane Warne, Adam Gilchrist, Glenn McGrath and Ponting in the all-conquering team.
Source:Taipei Times
February 05, 2022 22:00 UTC
Village in India banking on tree mortgages
Village in India banking on tree mortgagesBy K. Rajendran / Thomson Reuters Foundation, WAYANAD DISTRICT, IndiaP. K. Madhavan stood proudly next to a young, sturdy mahogany tree, one of 100 he planted three years ago on his farm in Wayanad District in the southern Indian state of Kerala. Tea grows in a forest in Wayanad District, India, on Sept. 17 last year. Photo: AFPThe 84-year-old farmer is being paid to plant and protect trees through a “tree banking” scheme, the project at the heart of Meenangadi’s campaign to become India’s first carbon-neutral village. Wayanad District is suffering more than most, with the Kerala State Action Plan on Climate Change naming it as one of the state’s four hotspots. Vinayan, president of the village council.
Source:Taipei Times
February 05, 2022 16:41 UTC
Flight ordered for team in India
Flight ordered for team in IndiaPLAYERS TEST POSITIVE: Despite fears of the women’s team not being able to compete in the FIFA finals, the game will proceed, with a private flight after the final matchBy Jason Pan / Staff reporterFour members of the national women’s soccer team no longer had COVID-19 symptoms yesterday, while three only had mild symptoms, but top government officials have ordered a chartered flight to bring them back from India. Members of the Taiwan women’s soccer team celebrate beating Thailand at the Asian Football Confederation Women’s Asian Cup in Navi Mumbai, India, on Friday. Photo courtesy of the Chinese Taipei Football AssociationThe crucial playoff match takes place at 3:30pm Taiwan time, and is to be broadcast by Elta Sports and Public Television Service’s Channel 3, soccer officials have said. On Friday, it was reported that seven team members had tested positive for COVID-19, after undergoing a polymerase chain reaction (PCR) test. “Taiwan’s women’s team battled hard to win 3-0 against Thailand on Friday, despite being short seven players...
Source:Taipei Times
February 05, 2022 16:41 UTC