Yungtay shares jump after takeover offer from Hitachi
Yungtay shares jump after takeover offer from HitachiBy Angelica Oung / Staff reporter, with CNAShares of Yungtay Engineering Co (永大機電) moved sharply higher yesterday after the company announced a day earlier that major shareholder Hitachi Ltd had offered to bring the Taiwanese elevator manufacturer fully under its ownership. Yungtay shares closed up 10 percent, the maximum daily increase, at NT$63.4, with 466 million shares changing hands on the Taiwan Stock Exchange (TWSE), where the benchmark TAIEX closed down 0.76 percent amid concerns over power rationing in China. Photo courtesy of Yungtay Engineering Co via CNAHitachi has agreed to launch a stock swap to buy Yungtay shares for NT$65.1 each, a 12.82 percent premium over its closing price of NT$57.5 on Monday, Lin said. At one point Pau Jar controlled the board, but as Hitachi steadily acquired Yungtay shares on the open market, the group led by Pau Jar steadily lost influence. The stake held by Pau Jar and its allies has shrunk to 7.86 percent.
Source:Taipei Times
September 28, 2021 15:56 UTC
Sanofi says that it is not pursuing its mRNA vaccine
Sanofi says that it is not pursuing its mRNA vaccineBloombergSanofi does not plan to pursue the development of a messenger RNA (mRNA) vaccine against COVID-19 because the shot will come too late to market. “Sanofi is focusing therefore on a recombinant protein candidate to address the needs of a booster vaccine.”A test tube is pictured in front of a Sanofi logo on Sept. 8. Ordinarily a giant in the vaccines space, Sanofi has lagged behind BioNTech SE and Moderna Inc in the pandemic as they raced ahead with mRNA shots that have now been injected into arms more than 1 billion times and generated billions in revenue. Last month, Sanofi bought its mRNA development partner Translate Bio Inc for US$3.2 billion with the aim of moving beyond vaccines and harnessing mRNA for treatments — something that BioNTech is investigating for cancer. “Our goal is to unlock the potential of mRNA in other strategic areas such as immunology, oncology and rare diseases in addition to vaccines,” Sanofi chief executive officer Paul Hudson said at the time of the deal.
Source:Taipei Times
September 28, 2021 07:30 UTC
UEFA ends action against three Super League rebels
UEFA ends action against three Super League rebelsReuters, MANCHESTER, EnglandUEFA has nullified disciplinary action against breakaway European Super League clubs Real Madrid, Barcelona and Juventus after a Madrid court ruled that European soccer’s governing body should not sanction the rebel clubs. UEFA had opened a probe against the three clubs, but in June it suspended proceedings after being notified by Swiss authorities of a court order from the commercial court in Madrid obtained by the legal entity European Super League Company SL. The latest step from UEFA was to declare that the proceedings were nullified. Proceedings have continued in a Madrid court to stop UEFA from punishing the clubs who tried to break away from the established European soccer structures, including UEFA’s Champions League. UEFA said that it “remains confident in and will continue to defend its position in all the relevant jurisdictions.”
Source:Taipei Times
September 27, 2021 21:33 UTC
Envoy welcomes TSMC to invest in Germany
Envoy welcomes TSMC to invest in GermanyIMPROVING COOPERATION: No matter the outcome of the German election, lawmakers would be interested in forming a delegation to visit Taiwan, Jorg Polster saidBy Lin Chia-nan / Staff reporterGermany welcomes Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to establish a new fab in Saxony, German Institute Taipei Director-General Jorg Polster said yesterday at a news briefing on the country’s election. German Institute Taipei Director-General Jorg Polster, right, holds a news conference at the institute in Taipei yesterday to give an update on Germany’s Bundestag election. In July, TSMC said it was evaluating the feasibility of constructing a semiconductor fabrication plant in Germany. Berlin welcomes the firm’s establishment plan, Polster said, adding that the east German state of Saxony would be a suitable location. Germany and Taiwan have many small and medium-sized enterprises, so he hopes to learn more about their operations in Taiwan, Polster said, adding that he is interested in visiting Taiwan’s science parks.
Source:Taipei Times
September 27, 2021 16:00 UTC
Five more allies voice support at UN
Five more allies voice support at UN‘FRESH SOLUTIONS’: The UN would be living up to its objectives by including Taiwan, Eswatini said, while Tuvalu called for Taiwanese citizens to be allowed into UN premisesStaff writer, with CNAFive more diplomatic allies on Saturday spoke up at the UN General Assembly in support of Taiwan’s inclusion: Eswatini, Haiti, Saint Lucia, Saint Vincent and the Grenadines, and Tuvalu. Twelve of Taiwan’s 15 diplomatic allies that are UN members have so far spoken out on behalf of the nation at the General Assembly — tying last year’s number. Tuvaluan Deputy Prime Minister Kausea Natano in a pre-recorded message addresses the UN General Assembly at UN headquarters in New York on Saturday. Tuvaluan Prime Minister Kausea Natano called for the UN to recognize that Taiwanese have a right to access UN premises. Vatican Secretary of State Cardinal Pietro Parolin was the only representative of Taiwan’s diplomatic allies who did not mention the nation in his address at the General Assembly on Saturday.
Source:Taipei Times
September 26, 2021 16:00 UTC
Musk reassures Beijing at China tech conference
Musk reassures Beijing at China tech conferenceBloombergTesla Inc chief executive officer Elon Musk yesterday spoke at the opening of China’s World Internet Conference, reassuring Beijing about his company’s commitment to invest and expand in the country against a backdrop of unprecedented economic turbulence. Alibaba Group CEO Daniel Zhang speaks at the World Internet Conference in Wuzhen, China, on Nov. 23 last year. “At Tesla, we are glad to see a number of laws and regulations that have been released to strengthen data management,” Musk said by videoconference. This collaborative international tone was in contrast to the great domestic upheaval for China’s Internet firms. Tesla, Intel and Qualcomm are among a handful of US companies with ambitions to expand their business in China.
Source:Taipei Times
September 26, 2021 15:56 UTC
Afghan fighters seek glory on windblown Kabul field
Afghan fighters seek glory on windblown Kabul fieldAFP, KABULEvery weekend, fighters from around Afghanistan gather on a public field in the capital to pit their skills against each other in a sport that is a mix of judo and wrestling. “I have been fighting for 17 years,” said Mohammad Atef, a well-built 31-year-old from Samangan Province in northern Afghanistan, after disposing of his opponent with an expert throw. “It is popular in Samangan, Kunduz, Baghlan — and there are many famous wrestlers in Sheberghan, too.”Fighters from across Afghanistan exhibit their judo and wrestling skills at Chaman-e-Huzuri Park in downtown Kabul on Friday. “Today, my competitor was from Kunduz,” Atef said after disposing of his rival with an acrobatic throw. Hekmat, a 21-year-old also from Samangan, is just starting his career and was beaming after his first victory of the weekend.
Source:Taipei Times
September 26, 2021 15:56 UTC
Chu hopes the KMT, CCP will seek common ground
Chu hopes the KMT, CCP will seek common groundRESPONDING TO XI: The DPP’s ‘anti-China’ policy has changed the ‘status quo’ across the Taiwan Strait and caused alarm on both sides, the KMT chairman-elect saidBy Sherry Hsiao / Staff reporterChinese Nationalist Party (KMT) chairman-elect Eric Chu (朱立倫) yesterday said he hopes the KMT and the Chinese Communist Party (CCP) will seek common ground and respect differences on the basis of the “1992 consensus” and opposition to Taiwanese independence. Chu made the remarks in response to a congratulatory letter from Chinese President Xi Jinping (習近平) written in his capacity as general secretary of the CCP Central Committee on the occasion of Chu’s election as KMT chairman on Saturday. Chinese Nationalist Party (KMT) chairman-elect Eric Chu speaks to reporters in Taoyuan yesterday. Chu said he hopes that the KMT and the CCP will, on the basis of the “1992 consensus” and opposition to Taiwanese independence, seek common ground and respect differences, increase mutual trust, and bolster exchanges and cooperation so that the peaceful development of cross-strait relations can continue. Chu is expected to be sworn in as KMT chairman on the same day as the party’s National Congress, which is scheduled to convene on Oct. 30, according to the KMT’s charter.
Source:Taipei Times
September 26, 2021 15:56 UTC
Draft bill sets schedule for defense enhancement
Draft bill sets schedule for defense enhancementBOOSTING DEFENSE: With the production of most new equipment ready to start, the Chungshan Institute of Science and Technology expects a revenue surge next yearBy Lo Tien-pin and Jonathan Chin / Staff reporter, with staff writerThe Executive Yuan on Friday revealed the schedule for Taiwan’s indigenous missile and warship production. The schedule is part of a draft bill on the nation’s sea and air combat power enhancement program that the Cabinet submitted to the legislature. Visitors look at a Hsiung Feng III anti-ship missile displayed at the Kaohsiung Exhibition Center on Sep. 27, 2018. The Hsiung Feng I and Hsiung Feng II missiles’ coastal defense variants and their dedicated road-based mobile launch vehicles would be produced from next year to 2026, the bill said. The Hsiung Feng III missile would be produced from 2023 to 2026, it said.
Source:Taipei Times
September 26, 2021 15:56 UTC
Animal crossing signs in Nantou aim to raise awareness
Animal crossing signs in Nantou aim to raise awarenessBy Chen Feng-li and Jonathan Chin / Staff reporter, with staff writerA cute animal crossing sign on a lonely mountain road in Nantou County has made a splash online. The page’s moderator on Thursday urged drivers to be mindful of wildlife and navigate that section of the highway carefully. An animal crossing sign featuring a Perny’s long-nosed squirrel is pictured on the side of a mountain road in Nantou County on Thursday. An animal crossing sign featuring sheep is pictured along Provincial Highway 14A near Cingjing Farm in Nantou County on Saturday. The animals on the signs are chosen to reflect the species that are found in the area, they said.
Source:Taipei Times
September 26, 2021 15:56 UTC
Vendors say four people won NT$10m in lottery
Vendors say four people won NT$10m in lotteryStaff writer, with CNAFour uniform invoices issued in July and last month had the winning serial number drawn on Saturday in the bimonthly lottery for the top prize of NT$10 million (US$360,607), according to the vendors that issued the invoices. The winning number for the NT$10 million special prize drawn in the July-August uniform lottery is 52604932, the Ministry of Finance said. The ministry releases details about the winning special and grand prize invoices about one week after the lottery is drawn. In the latest lottery draw, the ministry added 100,000 new NT$800 prizes, in addition to 30 NT$1 million prizes, 16,000 NT$2,000 prizes, and 1 million NT$500 prizes. People can verify the winning numbers on mobile phone apps they use for digitally stored invoices, or on the government’s E-Invoice Web site from tomorrow.
Source:Taipei Times
September 26, 2021 15:56 UTC
Fuel prices remain steady despite a rise in oil prices
Fuel prices remain steady despite a rise in oil pricesBy Chen Cheng-hui / Staff reporterCPC Corp, Taiwan (CPC, 台灣中油) yesterday said that its gasoline and diesel prices would remain unchanged from last week, a move echoed by the privately run Formosa Petrochemical Corp (台塑石化). The firms last week raised gasoline prices by NT$0.1 per liter, while lowering diesel prices by NT$0.1 per liter. Prices at CPC stations would remain at NT$28.2, NT$29.7 and NT$31.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would remain at NT$25.3 per liter, CPC said in a statement. While its gasoline and diesel prices could have increased by NT$0.6 and NT$1.5 per liter respectively this week based on its floating oil price formula, CPC said that it would absorb the cost increase to comply with government policy. Formosa said that it was leaving the prices of its 92, 95 and 98-octane unleaded gasoline unchanged at NT$28.2, NT$29.6 and NT$31.7 per liter for this week respectively, while the price of premium diesel would remain at NT$25.1 per liter.
Source:Taipei Times
September 26, 2021 15:56 UTC
A third generation of Maldini family scores in Serie A
AC Milan forward Daniel Maldini celebrates after opening the scoring against Spezia in their Serie A match at the Stadio Alberto Picco in La Spezia, Italy, on Saturday. He showed me what we were doing at set-pieces, so I realized that I would be in the starting XI,” Daniel Maldini told broadcaster DAZN. The coach gives me advice... Thankfully, we came through the match, which was very hard,” Daniel Maldini added. Daniel Maldini joined Milan’s youth setup after his dad retired, and has him at his side as the club’s technical director, watching his every move on the field. “He’s demanding — rightly so — but he helps me out,” Daniel Maldini said.
Source:Taipei Times
September 26, 2021 15:56 UTC
Pandering to Beijing will make KMT target for ‘united front,’ MAC tells Chu
Pandering to Beijing will make KMT target for ‘united front,’ MAC tells ChuBy Chen Yu-fu, Yang Chun-hui and Kayleigh Madjar / Staff reporters, with staff writerPro-Beijing pandering by the Chinese Nationalist Party (KMT) chairman-elect ignores the facts and would allow the party to become a target for China’s “united front” tactics, the Mainland Affairs Council (MAC) said yesterday. The KMT on Saturday elected former New Taipei City mayor Eric Chu (朱立倫) as chairman on promises of reopening all channels of communication with the Chinese Communist Party (CCP). The title and logo of the Mainland Affairs Council are displayed on a wall at its Taipei headquarters in an undated photograph. Chu only cares about meeting Beijing’s expectations while ignoring mainstream domestic public opinion, it said, adding that this kind of leadership cannot carry the KMT into a new era as Chu has promised. The DPP also decried Chu’s failure to hold the true perpetrators to account while blaming the victims.
Source:Taipei Times
September 26, 2021 15:56 UTC
Consumer confidence recovering
The poll showed that 25.6 percent of respondents expected the job market to improve, up from 23.5 percent last month. However, 33.6 percent of respondents expected the job market to worsen, down from 39.3 percent last month, it showed. Nearly 80 percent said that prices of consumer goods appear to have increased, and 75 percent said they expect the trend to continue over the next six months, the survey showed. On average, respondents expected a 2.05 percent consumer goods price increase this year, compared with an average increase of 2.03 percent expected last month, the survey showed. The government’s latest consumer price index forecast predicted a 1.74 percent upswing this year.
Source:Taipei Times
September 26, 2021 15:56 UTC