Gasoline and diesel prices to rise NT$0.3 per liter
Gasoline and diesel prices to rise NT$0.3 per literBy Chen Cheng-hui / Staff reporterDomestic fuel prices are to increase for a fourth consecutive week this week, with the retail price of 95-octane unleaded gasoline reaching the highest level in nine months. Gasoline and diesel prices are to rise NT$0.3 per liter this week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday. Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$29.8, NT$31.3 and NT$33.3 per liter for 92, 95 and 98-octane unleaded gasoline respectively. Meanwhile, premium diesel is to cost NT$27.3 per liter at CPC stations and NT$27.1 at Formosa pumps, the companies said. International oil prices fell earlier last week as investors expected geopolitical tensions to diminish in the Middle East, Formosa said.
Source:Taipei Times
July 28, 2024 20:11 UTC
KMT, TPP and the old party-state ideologies
KMT, TPP and the old party-state ideologiesBy Lee Min-yung 李敏勇Cursing, biting, blocking, kicking and grabbing... What has the Legislative Yuan become? The KMT and TPP seem to be intent on creating chaos. The TPP is also failing to live up to public expectations as a young upstart party and echoes the KMT, which has been haunted by the party-state ideology and has failed to reform itself. If we look at the forms and rituals of Taiwan’s political system, the Executive Yuan and Legislative Yuan are counterparts: The Executive Yuan proposes policy and budget plans to the Legislative Yuan, while the Legislative Yuan questions the Executive Yuan’s officials and reviews the budgets, thus forming a “ritual relationship” in politics. Regarding national governance, the Legislative Yuan’s counterpart is the Executive Yuan, in accordance with the constitution of the ROC since its establishment in China.
Source:Taipei Times
July 27, 2024 17:05 UTC
India needs to face up to its worrying junk food crisis
India needs to face up to its worrying junk food crisisBy Mihir Sharma / Bloomberg OpinionIndia is not the world’s healthiest country. That is a crisis — one that is set to grow worse as India becomes richer and more urban. At the same time, there is data suggesting junk food in India is worse than in many other countries, with higher levels of salt, sugar and saturated fats. More importantly, packaged food can be regulated, so people at least know what they are eating. As scientists said, that merely “helps the consumer choose the least unhealthy option among a host of unhealthy options.”Critics worry that India’s food regulators respond more readily to big food companies than to doctors.
Source:Taipei Times
July 27, 2024 17:05 UTC
TPP says ruling against Kao not proportionate
TPP says ruling against Kao not proportionateBy Lee Wen-hsin and Jake Chung / Staff reporter, with staff writerThe Taipei District Court’s ruling against Hsinchu Mayor Anne Kao (高虹安) was regrettable and highlighted the lack of proportionality in the justice system’s meting out of punishments for similar crimes, the Taiwan People’s Party (TPP) said yesterday. Kao was found guilty of contravening the Anti-Corruption Act (貪污治罪條例) and sentenced to seven years and four months in prison for corruption that involved misuse of public funds. Taiwan People’s Party Chairman Ko Wen-je, center, speaks to reporters in Taipei yesterday. Photo courtesy of the Taiwan People’s PartyFormerly an aide to business tycoon Terry Gou (郭台銘), Kao joined the TPP and served as a legislator at-large from 2020 to 2022 before running for Hsinchu mayor. The judiciary should not have double standards and should investigate the other case to uphold the integrity of the law, the TPP said.
Source:Taipei Times
July 26, 2024 20:12 UTC
Pakistan using ‘terrorism’ to stay relevant, Modi says
Pakistan using ‘terrorism’ to stay relevant, Modi saysReuters, NEW DELHIPakistan is trying to stay relevant through “terrorism” and “proxy war,” but its “unholy plans” would never succeed, Indian Prime Minister Narendra Modi said yesterday. Pakistan denies the accusations, saying it only provides diplomatic and moral support to Kashmiris seeking self-determination in the Muslim-majority region. Indian Prime Minister Narendra Modi speaks at a ceremony at the Kargil War Memorial in Drass, India, yesterday. Photo: AFP / Indian Press Information BureauModi’s comments came at an event to mark the 25th anniversary of India’s short military conflict with Pakistan in the Himalayan region of Kargil. Earlier this year, Pakistan said there was credible evidence linking Indian agents to the killing of people on its soil — accusations that India termed “fake.”
Source:Taipei Times
July 26, 2024 20:12 UTC
Closer Taiwan-India ties needed
Closer Taiwan-India ties neededBy Sana Hashmi 胡莎娜The return to power of the Democratic Progressive Party (DPP) in Taiwan and the Bharatiya Janata Party in India marked a pivotal moment for advancing India-Taiwan relations. Economic ties between Taiwan and India show promise, but remain underdeveloped relative to their global trade capacities. Revitalizing and expanding such exchanges could deepen mutual understanding and cooperation across sectors, thereby strengthening bilateral ties. In the absence of formal diplomatic ties, think tanks and political party dialogues play a crucial role. Initiatives such as the Taiwan-Asia Exchange Foundation-led India-Taiwan dialogue demonstrate the potential of non-governmental engagements in deepening bilateral understanding and collaboration.
Source:Taipei Times
July 26, 2024 03:47 UTC
EDITORIAL: Lai needs nimbler defense team
EDITORIAL: Lai needs nimbler defense teamWhen it comes to national security and foreign affairs, President William Lai (賴清德) has said he wants to maintain the same policies as his predecessor, Tsai Ing-wen (蔡英文). The loss of a legislative majority aside, the regional geopolitical situation is in a continuous state of flux. Even if he says he would retain Tsai’s strategies, Lai must acknowledge that the geopolitical ground has shifted under his feet. Lai needs to address this situation both internationally and at home, and for this he requires a nimble foreign affairs and national security team with the ability to adjust policy and strategy to meet the ever-changing circumstances. This is why Lai needs to re-evaluate the strategy and sense of urgency in Taiwan’s war preparedness, in both the military and civil spheres.
Source:Taipei Times
July 26, 2024 03:47 UTC
TIER raises 2024 GDP forecast to 3.85%
TIER raises 2024 GDP forecast to 3.85%GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphonesBy Crystal Hsu / Staff reporterThe Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taiwan Institute of Economic Research yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent. Photo: CNATaiwan is home to major suppliers of high-end chips, servers, storage, memory and other devices used in AI tools and solutions. Imports, a critical gauge of capital equipment and input material purchases to meet export needs, might rise by 7.29 percent, up from 6.64 percent, the TIER said. The sense of wealth inflation would likely have evaporated this month as a result of rapid and deep share price corrections.
Source:Taipei Times
July 25, 2024 20:11 UTC
What China expects from Kamala Harris presidency
What China expects from Kamala Harris presidencyBloombergChina officially avoided commenting on US Vice President Kamala Harris’ late entry into the US presidential race. “And at the level of whether it’s Biden or Trump or Harris, it’s really just a matter of style,” Mahoney said. Harris has only met Xi on the sidelines of a summit in Thailand and has not visited Beijing in her current role. “Harris does not have a track record on China, and it is not an area she is particularly comfortable,” added the former Pentagon official. Harris also visited Palawan, the Philippines, an island close to an area that is in heavy dispute between China and neighboring countries.
Source:Taipei Times
July 24, 2024 17:09 UTC
Heavy users post annual increase in electricity use
The institute forecast GDP growth of 4.5 percent for last month and said it expects that momentum to continue for the rest of this year. People walk toward electricity meters on a wall in Taipei on April 30. In contrast, the service sector consumes 18 to 19 percent of the power supply, while average households use about 18 percent, the researcher said. TSMC’s electricity use grew 5.8 percent from a year earlier and firms in its supply chain, such as providers of silicon wafers and printed circuit boards, also used more power, the TRI said. Electricity consumption by makers of chemical and steel products rose 5.4 percent and 1.5 percent respectively, as improved inventory demand pushed up production and selling prices, it said.
Source:Taipei Times
July 24, 2024 03:44 UTC
Kakao founder arrested in stock manipulation case
Kakao founder arrested in stock manipulation caseReuters, SEOULSouth Korean authorities yesterday arrested Kim Beom-su, the billionaire founder of tech giant Kakao Corp, on suspicion of manipulating stocks during the acquisition of a K-pop agency last year. Kim, also known as Brian Kim, is seen as a visionary in South Korea’s digital industry for building the Kakao group from the ground up. Kakao Corp founder Kim Beom-su, center, leaves after a warrant hearing at the Seoul Southern District Court on Monday. In a statement, Kakao called the situation “unfortunate,” adding that Kakao CEO Shina Chung, would lead efforts to minimize the effects of any potential management vacuum. The high-profile tech entrepreneur is the largest shareholder of Kakao, with a 24 percent stake that he and affiliated entities control.
Source:Taipei Times
July 24, 2024 03:42 UTC
Typhoon Gaemi shuts Taiwan’s financial markets
Typhoon Gaemi shuts Taiwan’s financial marketsBloombergTaipei is today suspending work, classes and its US$2.4 trillion stock market as Typhoon Gaemi approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed income trading, statements from its stock and currency exchanges said. Authorities had yesterday issued a warning that the storm could affect people on land and canceled some ship crossings and domestic flights. A woman looks at an electronic stock board at the Taiwan Stock Exchange in Taipei on July 18. Over the past few days, Gaemi traveled past the Philippines, which placed northern parts of its main Luzon island on alert.
Source:Taipei Times
July 23, 2024 17:17 UTC
Asymmetric warfare key for Taiwan
Certainly, the administration of US President Joe Biden seems to have changed the US’ longtime strategy of ambiguity to a policy of defending Taiwan. These only demand peaceful unification of China and Taiwan, but no commitment to defend Taiwan. The consensus is that, as seen with the tactics Ukraine used to push back against Russia, Taiwan primarily needs asymmetric warfare capabilities with numerous small, dispersed, mobile, lethal and inexpensive weapons. The politically correct speech was effective in enhancing a sense of solidarity between Taiwan and liberal democracies, involving their strong moral support for Taiwan. The new normal can be expected to gradually but significantly exhaust Taiwan’s military preparedness.
Source:Taipei Times
July 23, 2024 17:17 UTC
Manila, Beijing at odds over sea deal
Manila, Beijing at odds over sea dealSECOND THOMAS SHOAL: The Philippines objected to China’s claim that it has agreed to provide prior notice and allow full monitoring of its resupply missionsBloombergThe Philippines and China are already at odds over the details of a “provisional arrangement” that is to govern resupply missions to Manila’s military outpost in the South China Sea, just hours after announcing the agreement. Chinese coastguard vessels fire water cannons towards a Philippine resupply vessel Unaizah May 4 on its way to a resupply mission at Second Thomas Shoal in the South China Sea, March 5, 2024. Vessels from the two countries have engaged in testy confrontations when the Philippines send supply missions to the Sierra Madre. Beijing stressed that it has sovereignty over the shoal, and reiterated that the Philippines should remove the Sierra Madre. Manila, for its part, said it would continue to assert its rights and jurisdiction in its maritime zones, including the Second Thomas Shoal.
Source:Taipei Times
July 23, 2024 03:48 UTC
Public-sector workers to get 3% pay raise next year
Public-sector workers to get 3% pay raise next yearStaff writer, with CNAThe Executive Yuan has agreed to raise the salaries of civil servants, military personnel and public school teachers by 3 percent next year, Premier Cho Jung-tai (卓榮泰) said yesterday. Cho told reporters on the sidelines of an event in Pingtung County that he hoped the government’s wage hike would prompt the private sector to also raise salaries and bolster the nation’s competitiveness. Photo: Lo Hsin-chen, Taipei TimesGiven that the local economy is in recovery, the Cabinet believes that civil servants, military personnel and public school teachers should also benefit, he said. The Executive Yuan increased salaries for civil servants, military personnel and public school teachers by 4 percent this year. Many employees have urged their employers to raise wages as their income has been eroded by inflation.
Source:Taipei Times
July 22, 2024 20:10 UTC