Biden seeks ‘free and open’ Pacific in first meet with Australia, India, Japan
“Free and open” has become code for expressing worry about swelling Chinese economic, diplomatic and military presence — including threats to vital international sea lanes. Biden, who often talks about democracies needing to prove their capability in an age of powerful autocracies in Russia and China, sought to show that the Quad was about action. India said it would export 8 million one-dose Johnson & Johnson vaccines by the end of next month. On another key priority for Biden, the Quad leaders said the four nations would all make “ambitious” announcements at the upcoming Glasgow climate summit with an aim of bringing the warming planet to net-zero emissions by 2050. US officials said they did not see the Quad as a military alliance even as they sought to broaden cooperation.
Source:Taipei Times
September 25, 2021 15:56 UTC
Keep the flame alive
US could block Beijing’s CPTPP entry bid: officialBY OTHER MEANS: China could see CPTPP membership as a means of circumventing trade restrictions imposed by the US, amid an ongoing trade dispute between them The US could invoke a clause in its trade agreement with Canada and Mexico to block China’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a government official said yesterday. Under Article 32.10 of the Exceptions and General Provisions of the United States-Mexico-Canada Agreement (USMCA), if either Canada or Mexico enter a free-trade agreement with a nonmarket economy — such as China — the US could withdraw from the agreement. “If that clause applies to multilateral free-trade agreements such as the CPTPP — which Mexico and Canada are members of — that might be cause for the twoBy Lee Hsin-fang and William Hetherington
Source:Taipei Times
September 24, 2021 15:56 UTC
Police make arrests after Ligue 1 rocked by violence
Police make arrests after Ligue 1 rocked by violenceAFP, PARISFrench police made arrests on Thursday and soccer authorities held an emergency meeting after a series of violent incidents involving supporters during midweek Ligue 1 matches. Another match on Wednesday between Angers SCO and Olympique de Marseille at Angers’ Stade Raymond Kopa was interrupted when supporters invaded the pitch and threw flares. At the final whistle of the 0-0 draw, a group of Marseille supporters left the area of the stadium reserved for visiting fans and tried to confront their Angers counterparts before stadium security staff regained control. Two Marseille supporters were arrested for their role in those incidents, prosecutors said. French Minister of National Education Jean-Michel Blanquer, who also has overall responsibility for sports, described the incidents as the result of “unacceptable hooliganism” and called for tough action from Ligue 1.
Source:Taipei Times
September 24, 2021 15:56 UTC
Vaccines just one factor in alert level
Medical workers administer COVID-19 vaccines in Taipei yesterday. Photo: Geroge Tsorng, Taipei TimesThe nationwide COVID-19 alert was on July 27 lowered from level 3 to level 2 and has been extended four times. Chen’s comment came in response to Taoyuan Mayor Cheng Wen-tsan (鄭文燦), who had suggested lowering the alert, citing low case numbers in the past few weeks. To confirm the positive result, she was given a traditional PCR test, and the result was negative, the center added. Meanwhile, CECC data showed that 87,708 young Taiwanese on Thursday received their first dose of the Pfizer-BioNTech COVID-19 vaccine.
Source:Taipei Times
September 24, 2021 15:56 UTC
Cross-platform e-payment to launch next month to boost digital payments
Cross-platform e-payment to launch next month to boost digital paymentsBy Kao Shih-ching / Staff reporterA new system established by Financial Information Service Co Ltd (FISC, 財金公司) is set to launch next month, allowing users to transfer money between different e-payment platforms, a change that would help boost digital payment transactions, the Financial Supervisory Commission said on Thursday. The nation’s eight e-payment companies with full operational licenses are required to join the “cross-platform e-payment system” before the end of this month, the commission told a news conference. All eight e-payment service providers have run tests of their interfaces with the FISC system and they are expected to join on time, the commission said. Should all eight e-payment companies join the system successfully, their combined 12 million users would benefit, as they would be able to transfer money more conveniently, it said. Currently transfers between e-payment users is only viable when the users use the same e-payment service provider — a Jko Pay user cannot currently transfer money to a user of Line Pay Money.
Source:Taipei Times
September 24, 2021 15:56 UTC
Defense among priorities for premier
Defense among priorities for premierLIVELIHOODS, DEVELOPMENT: Su Tseng-chang wrote that the defense budget is to reach a record, while families and admission to the CPTPP are other key itemsBy Chien Hui-ju / Staff reporterAn increased defense budget, improving people’s livelihoods and pushing for sustainable development were among the items Premier Su Tseng-chang (蘇貞昌) presented in a written report to the Legislative Yuan yesterday. Frequent Chinese military incursions into Taiwan’s air defense identification zone have destabilized regional security, Su wrote in the report. “Only if we help ourselves will other countries come to our aid in a time of need.”The defense budget for next year is a record NT$470 billion (US$16.95 billion), it said. Taiwan’s fleet of 141 US-made F-16A/B fighters are being upgraded to F-16Vs, with Taiwan’s first F-16V wing to be commissioned in November to bolster the nation’s strategic air defense, the report said. Taiwan has filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the report said.
Source:Taipei Times
September 24, 2021 15:56 UTC
Credit controls to reduce property purchases by 15%
Credit controls to reduce property purchases by 15%By Crystal Hsu / Staff reporterThe central bank’s latest credit controls would reduce property transactions by 10 to 15 percent this year, which would particularly affect people looking to move, developers and analysts said yesterday. However, the central bank described its adjustment as “minor.”The central bank previously directed its credit controls at corporate buyers, but shifted focus to individuals, Lai said, adding that the move would hurt real demand. Without grace periods, owners would pay NT$33,608 a month to cover interest and the principal of a NT$10 million loan, it said. Jessica Hsu (徐佳馨), head researcher at H&B Realty Co (住商不動產), said she was not surprised at the tightening measure, as real-estate lending has showed no signs of subsiding following two earlier waves of credit controls. Buyers of land plots in industrial parks must take action on their development plans within one year after purchase.
Source:Taipei Times
September 24, 2021 15:56 UTC
Police must crack down on online child abuse
Police must crack down on online child abuseBy Tsao Yao-chun 曹耀鈞Between 2017 and last year, the numbers of sexual exploitation cases involving children reported by local governments pointed to a growing trend. Seventy-two percent of the cases involved online crime, with most of the victims being junior-high school students. Examples are the “Nth Room” online sexual exploitation case in South Korea — which drew the attention of the country’s presidential office — as well as similar cases in Taiwan. Education authorities at every level are working hard to increase public awareness and provide more information about online security, including how to strengthen parents’ and children’s online security competence. The measures include online security training in junior-high school textbooks, inviting experts to schools to explain the legal ramifications and building dedicated information security Web sites.
Source:Taipei Times
September 24, 2021 15:56 UTC
Darnold, defense lead Panthers to victory in Texas
Darnold, defense lead Panthers to victory in TexasAP, HOUSTON, TexasThanks to another efficient performance from Sam Darnold and continued dominant play by their defense, the Carolina Panthers are 3-0 for the first time since 2015, when they reached the Super Bowl. That combination was certainly too much for the Houston Texans on Thursday in Carolina’s 24-9 victory, but a hamstring injury to star running back Christian McCaffrey could cause serious adversity for Darnold and the Panthers’ offense going forward. Photo: AFPDarnold threw for 304 yards and ran for two touchdowns as the Panthers eased past the Texans despite losing McCaffrey early in the second quarter. Darnold topped 300 yards passing for the second straight game as he continues to revitalize his career with the Panthers after being cast aside by the New York Jets. “He handled himself well.”Darnold’s five-yard run put the Panthers ahead early and McCaffrey was injured on Carolina’s next drive.
Source:Taipei Times
September 24, 2021 15:56 UTC
China likely to ban more fruit, DPP lawmaker says
China likely to ban more fruit, DPP lawmaker saysBy Chien Hui-ju and Jonathan Chin / Staff reporter, with staff writerThe government should prepare contingency plans for a possible Chinese ban on oranges from Taiwan, Democratic Progressive Party (DPP) Legislator Lai Hui-yuan (賴惠員) said yesterday. Beijing on Monday suspended imports of custard apples and wax apples from Taiwan, citing mealybug infestations in shipments on “multiple occasions” this year. Photo: Taipei Times fileMore restrictions by China would hurt Tainan growers, who are already suffering from the effects of water shortages this year, she said. Beijing’s announcement on Sunday of the ban was the second time this year that China has suspended imports of fruits from Taiwan. In February, China banned imports of pineapples from Taiwan, citing “harmful creatures” that could arrive with the fruit.
Source:Taipei Times
September 24, 2021 15:56 UTC
Japan’s consumer prices cease their 13-month fall
Japan’s consumer prices cease their 13-month fallBloombergJapan’s consumer prices stopped falling last month for the first time in 13 months, ending the country’s longest deflationary stretch since 2011. Rising costs for hotels, processed food and energy cushioned the impact of mobile phone rates that have fallen sharply under pressure from outgoing Japanese Prime Minister Yoshihide Suga. “At least we can say prices aren’t falling, so the BOJ can continue to keep a close eye on it, without taking additional easing steps,” NLI Research Institute economist Taro Saito said. While producer prices have jumped, climbing 5.5 percent last month, most Japanese firms aren’t choosing to pass those costs on to customers. Global supply-chain snags and surging commodities prompted the Paris-based Organisation for Economic Co-operation and Development this week to raise its forecast for consumer price inflation this year and next in every G7 country, except Japan.
Source:Taipei Times
September 24, 2021 15:56 UTC
KMT hopefuls assess odds for chairperson election
KMT hopefuls assess odds for chairperson electionBy Shih Hsiao-kuang and Jake Chung / Staff reporter, with staff writerThe four camps of the candidates in the Chinese Nationalist Party (KMT) chairperson election yesterday gave assessments of their prospects in today’s vote. Chu spokesman Ling Tao (凌濤) said that Chu’s campaign message is clear — the KMT must prosper in next year’s general elections and win the 2024 presidential election. Chang spokesman Ho Chi-sheng (何啟聖) said that Chang’s campaign was confident about the support it has generated, but is not certain how many votes it would receive. Cho spokesman Wu Ming-sheng (吳明聖) said that Cho sought to rally the support of all 370,000 KMT members. The KMT National Congress today is to hold elections for party delegates alongside the chairperson vote.
Source:Taipei Times
September 24, 2021 15:56 UTC
Exports post best August performance
Exports post best August performanceMADE IN TAIWAN: The share of export orders for products made overseas versus those made in local factories decreased by 4.4 percent year-on-year to 49.3 percentBy Angelica Oung / Staff reporterTaiwan’s export orders expanded 17.6 percent year-on-year to US$53.5 billion last month, the best August performance ever, the Ministry of Economic Affairs said yesterday. On a monthly basis, export orders dropped 3.2 percent from US$55.3 billion. The ministry expects export orders to rise again this month, with growth coming from information and communications technology (ICT) and electronic products. “We predict demand driven by the global recovery and strong commodity prices will keep supporting strong export orders,” Huang said. While the 18-month winning streak for Taiwanese export orders might seem impressive, it is far from record breaking, she added.
Source:Taipei Times
September 24, 2021 15:56 UTC
Supply disruption cuts Nike forecast
Supply disruption cuts Nike forecastBloombergNike Inc lowered its sales outlook as production and shipping delays hobbled the company’s efforts to meet strong demand for shoes and athletic wear. Sales this quarter could fall as factory closures in Vietnam prevent Nike from keeping up with consumer demand, the world’s largest athletic wear company said on Thursday. That means full-year growth would be in the mid-single digits rather than the low double digit percentage rate Nike targeted earlier. Nike does not expect the facilities to reopen until October, and they could require several months to ramp up manufacturing. Cuts in wholesale distribution have put renewed focus on Nike’s direct-to-consumer channel, which grew 25 percent this quarter on a constant-currency basis.
Source:Taipei Times
September 24, 2021 07:07 UTC
Fears grow as Evergrande misses interest deadline
A deadline for paying US$83.5 million in bond interest passed without remark from Evergrande, and bondholders had not been paid nor heard from the company, two people familiar with the situation told Reuters. Evergrande appointed financial advisers and warned of default last week, and world markets fell heavily on Monday amid fears of contagion, though they have since stabilized. Evergrande has promised to prioritize such investors and resolved one coupon payment on a domestic bond this week. However, it has said nothing about the offshore interest payment that was due on Thursday or a US$47.5 million payment due next week. Bloomberg Law also reported that regulators had asked Evergrande to avoid a near-term default, citing unnamed people familiar with the matter.
Source:Taipei Times
September 24, 2021 06:11 UTC