House purchase data show buyers shunning Taipei
House purchase data show buyers shunning TaipeiBy Crystal Hsu / Staff reporterHousing transactions in the nation’s six special municipalities last month rose 7.1 percent to 27,802 units, led by conspicuous gains in central and southern Taiwan, data released yesterday from respective local governments showed. In particular, transfers in Taoyuan and Taichung advanced by double-digit percentages to above 5,000 units, as central and southern Taiwan are catching up with the north by measure of transaction volume. Photo: Hsu Yi-ping, Taipei TimesKaohsiung also achieved a milestone with 5,070 deals, representing an 8 percent increase from November, the local government’s statistics showed. Property deals in Taipei grew 6 percent to 2,869 units last month and shed 3 percent to 6,934 in New Taipei City, separate local government data showed. The trend could prompt developers to shift their focus away from Taipei and New Taipei City and give more attention to central and southern Taiwan, Tseng said.
Source:Taipei Times
January 04, 2022 03:54 UTC
Suez cargo hit record high last year
Suez cargo hit record high last yearAFP, CAIROEgypt’s Suez Canal Authority said that the key waterway netted record revenues last year, despite the COVID-19 pandemic and a six-day blockage by the giant cargo ship Ever Given. About 1.27 billion tonnes of cargo were shipped through the canal last year, earning US$6.3 billion in transit fees, 13 percent more than in 2020, and the highest figures ever recorded, the Suez Canal Authority (SCA) managing director Osama Rabie said. People watch a shipping container pass through the Suez Canal in Ismailia, Egypt, on Oct. 5 last year. In March, the Ever Given super tanker — a behemoth with deadweight tonnage of 199,000 — became stuck diagonally across the canal during a sandstorm. Egypt lost up to US$15 million each day during the canal closure, the SCA said.
Source:Taipei Times
January 03, 2022 23:28 UTC
Sudanese PM resigns amid crackdown on protesters
Sudanese PM resigns amid crackdown on protestersAFP, KHARTOUMSudanese Prime Minister Abdalla Hamdok resigned on Sunday, more than two months after a military coup and following another deadly crackdown on protesters, with the military now firmly in control. Protesters gather on Sunday in Khartoum at a demonstration against an Oct. 25 military coup in Sudan. Hamdok was the civilian face of the nation’s fragile transition, while al-Burhan has been the nation’s de facto leader following al-Bashir’s ouster. However, thousands still came out to demonstrate “in memory of the martyrs,” with at least 57 protesters now killed since the coup, according to pro-democracy medics. Young men on motorcycles were seen ferrying wounded protesters to hospitals as security forces blocked ambulances from reaching them.
Source:Taipei Times
January 03, 2022 16:45 UTC
Big tech adds US$2.5tn in value last year
Big tech adds US$2.5tn in value last yearBloombergBig tech powered US stocks to a third straight winning year last year, as giants such as Apple Inc and Microsoft Corp continue to see strong demand almost regardless of the economic environment. While their performances last year varied from Alphabet’s 65 percent surge to Amazon’s 2.4 percent slog, the group collectively added more than US$2.45 trillion in market valuation. Microsoft, Apple and Alphabet were among the three biggest contributors to the S&P 500 Index’s gains for the year. “While I believe in the merits of tilting toward cyclical names going into 2022, I would not abandon tech,” Luschini said. It was the strongest year for the stock since 2009, and it briefly joined Apple and Microsoft with a US$2 trillion market valuation.
Source:Taipei Times
January 02, 2022 23:29 UTC
Retired officers to depart for US to set up mission
Retired officers to depart for US to set up missionStaff writer, with CNARetired army major general Ni Pang-chen (倪邦臣) and retired navy captain Cheng Kuo-feng (程國峰) are to depart for the US today to establish a mission for the Veterans Affairs Council (VAC) that would oversee veterans’ affairs exchanges between the two countries. Ni has experience abroad, and is proficient in Spanish and English, the council said, adding that Cheng is also proficient in English, with a well-rounded military service in the navy. Both have passed the American Institute in Taiwan’s interview as well as English proficiency tests, it added. The long-term goal would be to establish official communication with the US Department of Veterans Affairs, with the expectation that the mission would serve as a channel for track two diplomacy, he said. President Tsai Ing-wen (蔡英文) on Nov. 26 announced that the council would establish a mission in the US.
Source:Taipei Times
January 02, 2022 22:15 UTC
French vehicle ads must promote greener options
French vehicle ads must promote greener optionsAFP, PARISVehicle advertisements in France are from this year required to include messages encouraging people to consider less-polluting travel alternatives as part of the government’s drive to rein in carbon dioxide emissions. Similar to mandatory reminders to eat healthy on food and beverage ads, the standardized messages are to suggest that drivers adopt more environmentally responsible options when possible. The ads are also required to include a vehicle’s carbon dioxide emission class, a new ranking system to inform consumers about the environmental impact that is part of a widespread climate action law approved by lawmakers in July last year. It’s the first time we’ve had such a direct message from the government,” Hyundai Motor France president Lionel French Keogh said. As part of the new French law, advertising for the most polluting vehicles — those that emit more than 123 grams of carbon dioxide per kilometer, including many popular SUVs — are to be completely outlawed from 2028.
Source:Taipei Times
January 02, 2022 04:01 UTC
Russia’s gas supplies to Europe are under scrutiny
Russia’s gas supplies to Europe are under scrutinyBy Florian Cazeres with Charlotte Causit / AFP, BERLINWith the arrival of winter in Europe and energy prices soaring, tensions are running high over the provision of gas from Russia — especially through the Yamal-Europe pipeline that runs through Poland and Belarus. Photo: ReutersIt delivers 30 billion cubic meters of gas to Europe each year, making it one of the most important vehicles for the provision of Russian gas to the continent. However, this means that it is more cost efficient for Poland to buy Russian gas from Germany. Meanwhile, Russian gas continues to flow to Europe through other major pipelines such as Nord Stream I and TurkStream. Some European states, such as Poland and Ukraine, have accused Moscow and Russian energy company PJSC Gazprom of cutting gas supplies to Europe to exert political pressure over these tensions.
Source:Taipei Times
January 02, 2022 04:01 UTC
Oil’s annual gains largest since 2009
Oil’s annual gains largest since 2009BloombergOil posted its biggest annual advance since 2009 as COVID-19 vaccination rollouts accelerated the reopening of economies, spurring global consumption, while crude production returned at a more moderate pace. West Texas Intermediate (WTI) rose 55 percent for the biggest year-to-date gain in more than a decade. Brent, the global benchmark, rose 50 percent, the largest gain since 2016. Oil’s rally last year was also due to an energy crunch, prompted by shortages of natural gas and coal earlier this fall. Surging gas prices led to rising demand for alternative power generation in Europe and Asia heading into the Northern Hemisphere winter.
Source:Taipei Times
January 01, 2022 23:28 UTC
Agriculture key to Lithuania ties
Agriculture key to Lithuania tiesBy Marcin Jerzewski 葉皓勤Lithuania, arguably one of the most vocal supporters of Taiwan in Europe, remains a target of Chinese tools of negative economic statecraft. Given that cereals constitute the largest export product of Lithuania to China, farmers and food producers have been hit particularly hard through the ongoing spat. The strong representation of Lithuanian food producers at the recently concluded international food show Food Taipei marks an important step in the right direction. Consequently, intersectoral cooperation between TAITRA, the Council of Agriculture, the National Development Council and other executive agencies is required for a holistic and nuanced approach to building ties. It is also important to recognize that incumbents from the ruling coalition notice the sensitivity of agricultural and food sector cooperation.
Source:Taipei Times
January 01, 2022 22:02 UTC
Slew of new rules to take effect with the new year
However, from next month, all COVID-19 tests would have to be paid for, the center added. Starting today, the monthly minimum wage for workers is to be raised by 5.21 percent from NT$24,000 (US$867) to NT$25,250, and the hourly minimum wage is to be lifted from NT$160 to NT$168. Ministry of Labor figures show that 2.45 million workers would benefit from the monthly and hourly wage increases. From earners of the minimum monthly salary, NT$581 would be deducted monthly from their paychecks, their employer would pay NT$2,033, and the government would cover the remaining NT$290. The minimum age for people who wish to claim full pensions under the Labor Insurance program is to be raised from 62 to 63 next year.
Source:Taipei Times
January 01, 2022 04:13 UTC
Base metals shine in 2021, but gold and iron suffer
Base metals shine in 2021, but gold and iron sufferBloombergMetals are heading for more drama after a tumultuous year dominated by supply squeezes, China’s property-led economic slowdown and a global energy crisis that hints at more disruptions to come. Last year saw copper hitting a record as the COVID-19 pandemic roiled supply and demand, but tin was the star performer as base metals marched higher. For now, soaring energy costs in Europe also continue to dominate the supply-side for base metals. Yesterday, base metals were mostly lower, with copper edging down 0.4 percent in London for a 24 percent advance this year. Iron ore gyrated around US$120 per tonne and was headed for a 25 percent decline last year.
Source:Taipei Times
December 31, 2021 23:28 UTC
Convincing the unvaccinated
Convincing the unvaccinatedUndertakers, rabbis join global fight promoting COVID shotsAPIn Germany, Lutheran pastors are offering COVID-19 shots inside churches. SHOTS IN CHURCHGerman pastor Christoph Herbst believes giving COVID-19 shots in surroundings that feel more familiar than medical settings may help. Caesar Thompson speaks with participants in the READI Chicago program about COVID-19 vaccines. I just don’t see the reasoning for me to get the vaccine.”She said the US government is pushing COVID-19 vaccines too hard. He has repeatedly booked and canceled COVID-19 vaccine appointments.
Source:Taipei Times
December 31, 2021 22:14 UTC
Victims react to Ghislaine Maxwell being found guilty
Victims react to Ghislaine Maxwell being found guiltyThe Guardian, LOS ANGELESA Manhattan jury’s decision to find Ghislaine Maxwell guilty of sex trafficking has left victims of the British socialite and her former boyfriend, Jeffrey Epstein, “relieved and grateful.”Maxwell was found guilty on five of six charges for her involvement in Epstein’s sexual abuse of teenage girls. Prosecutors said that Maxwell “preyed on vulnerable young girls, manipulated them and served them up to be sexually abused.”A courtroom sketch shows Ghislaine Maxwell listening as the guilty verdict in her sex abuse trial is read in New York City on Wednesday. Photo: Reuters“I am so relieved and grateful that the jury recognized the pattern of predatory behavior that Maxwell engaged in for years and found her guilty,” said Annie Farmer, one of the victims who testified at the trial. “As the verdict was read, Maxwell struggled to stand, but said nothing,” Brown wrote on Twitter. Late on Wednesday, Maxwell’s brother, Kevin Maxwell, said the family stood by her and believed that she would be vindicated during the appeals process.
Source:Taipei Times
December 31, 2021 03:59 UTC
Japan’s royal dilemma
One is to allow royal women to keep their title and public duties when they wed outside the family. The second is to allow men from 11 former branches of the royal family abolished in post-war reforms to “rejoin” the direct line through adoption. Royal women have long walked a difficult path in Japan. The divine status of the imperial family was renounced after World War II following Japan’s militaristic sweep across Asia in the name of Emperor Hirohito. Since 1947, royal succession has been dictated by the Imperial Household Law, and issues surrounding it remain a delicate topic tightly bound with ideas of national identity.
Source:Taipei Times
December 31, 2021 03:59 UTC
Doctors sentenced over tax evasion charges
Doctors sentenced over tax evasion chargesSUBSIDY SCHEME: A court said that a foundation allowed people who gave it money to apply for research, study or social welfare grants of up to 95 percent of the amountStaff writer, with CNATri-Service General Hospital superintendent Wang Chih-hung (王智弘) and 24 other military physicians on Wednesday were sentenced by the High Court to between two months and a year in prison in a tax evasion case. The physicians were among 27 people indicted on tax evasion charges in 2016, with the Taipei District Court finding them not guilty in the first trial. However, prosecutors appealed the decision and the High Court overturned the ruling, finding 25 of the defendants guilty of using a charitable foundation as a vehicle for tax evasion. The second trial found that the foundation allowed those who donated to get back most of what they gave and benefit from tax deductions. The tax evasion activity of the 25 defendants did not all take place in the same year and their intentions were separate from each other, so they are to be punished separately, the High Court added.
Source:Taipei Times
December 30, 2021 16:57 UTC