Rookie Theegala seizes PGA lead, Pan closes inAFP, WASHINGTONSahith Theegala, chasing his first US PGA title, on Saturday fired a bogey-free five-under-par 67 to grab a one-stroke lead in the third round of the Sanderson Farms Championship, with Taiwan’s C.T. The 23-year-old American, a rookie making only his 15th US PGA start, stood on 18-under 198 after 54 holes at the Country Club of Jackson in Mississippi. Pan watches his drive from the second tee during the third round of the Sanderson Farms Championship in Jackson, Mississippi, on Saturday. His second round performance was flawless, with birdies on holes five, six and 14, and an eagle on three. At the LPGA ShopRite Classic in Galloway, New Jersey, Ko Jin-young and Park In-bee set the stage for a South Korean shoot-out, firing second-round 65s to share a two-stroke lead after the second round.

COVID-19: CECC eases outdoor mask regulationsBREATHE EASY: People like farmers, and visitors to forests and beaches, would not have to wear masks as long as they can ensure social distancing, the minister of health saidStaff writer, with CNAThe Central Epidemic Command Center (CECC) yesterday announced a partial relaxation of the nation’s outdoor mask mandate as it reported zero new domestically transmitted COVID-19 cases. A farmer works in a field in Taipei yesterday. From tomorrow, farmers are not required to wear masks if they are outdoors and can maintain social distancing. A comprehensive outdoor mask mandate was introduced after Taiwan’s COVID-19 alert level was raised to level 3 in May, amid a spike in locally transmitted cases. With no new deaths reported yesterday, the number of confirmed COVID-19 deaths remained at 843, with all but 12 recorded since May 15, the data showed.

Academia Sinica has sometimes been confused with the Chinese Academy of Sciences, as its Latin name translates to “Chinese Academy” in English, Fan said at the time. The entrance to Academia Sinica in Taipei’s Nangang District is pictured on Dec. 31 last year. Photo: Yang Yuan-ting, Taipei TimesLiao promised to ensure that Academia Sinica members discuss a name change, and has since formed an ad hoc committee for that purpose, which has met four times. Changing it might also result in difficulties when cooperating with Chinese researchers, it said. Fan on Saturday commended the institution for its progress on the matter, and said she welcomed further deliberation by all Academia Sinica members and researchers.

Mask mandate might be relaxedALERT TO REMAIN: The CECC said that agencies have relayed complaints from people saying there is no need for a farmer in a field or a family hiking to wear masks Taiwan’s mask mandate is to be relaxed from tomorrow as the number of domestic cases of COVID-19 has fallen, but the level 2 alert will be extended, Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the Central Epidemic Command Center (CECC), said yesterday. The CECC is reconsidering mask requirements while outdoors in areas where there are few people, Chen said. Government agencies have relayed complaints about having to wear a mask in places where there are few people, such as a farmer working in a field or a family hiking, he said. As Taiwan reported an average of two locally transmitted

Walter Lohman On Taiwan: Back to basics on Taiwan’s participation in international organizationsFor all the hard work and debate, Congress may not present an omnibus China bill to the President this year. There are big problems with that bill — not least its price tag — but among the useful things it does is incorporate two measures on Taiwan’s international space. Look, even with all that’s going on with China now — its wolf warrior diplomacy, its armed harassment of Taiwan — it’s a hard slog getting support for expanding Taiwan’s international space. There is an enormous amount to be done besides, as anyone close to the effort to help Taiwan gain participation in international organizations can attest. Kudos to Congressmen Bera, Chabot, Connolly, Curtis, their many co-sponsors and the House Foreign Affairs Committee for grasping this.

Google shelves plan for bank accountsTRICKY TRANSITION: Google has struggled for years to become a primary medium of commerce through its Google Pay app, a goal that has also eluded rival FacebookBloombergAlphabet Inc’s Google is shelving plans to add bank accounts to its payment app, becoming the latest tech giant to dial back its ambitions for financial services. The idea was that Google Pay users would be able to use the app to apply for so-called Plex checking and savings accounts from 11 banks. The Plex accounts were just one part of a broad overhaul of the Google Pay app, which also allowed users to link up their existing bank accounts and credit cards, and search for discounts when setting out to shop or dine. Since its debut in 2015, Google Pay — originally called Android Pay — has amassed 150 million users in 30 countries. Work on updating the Google Pay app — which consumers mostly rely on to send money to friends or for online shopping — began under Caesar Sengupta.

Poll shows concern over Chinese port investments‘REOPEN INVESTIGATIONS’: A New Power Party survey showed satisfaction with President Tsai, although most want action on Chinese stakes in ports and science parksBy Hsieh Chun-ling and William Hetherington / Staff reporter, with staff writerA poll conducted by the New Power Party (NPP) showed that a majority of respondents want authorities to crack down on Chinese investment in Taiwan’s science parks and ports, the party said yesterday. Chinese investment in science parks and port areas is viewed as a national security concern, the NPP told a media briefing in Taipei. The DPP had not listened to the NPP’s suggestion of increasing housing taxes for those with multiple properties, which would likely have helped curb prices, NPP Chairwoman Chen Jiau-hua (陳椒華) said. The survey also asked respondents how satisfied they were with the performance of President Tsai Ing-wen (蔡英文) and Premier Su Tseng-chang (蘇貞昌). The poll showed that 56 percent were satisfied with Tsai’s performance and 37.4 percent were dissatisfied, while 49.5 percent were satisfied with Su and 43.1 percent dissatisfied.

US private equity firm wins auction for UK’s MorrisonsAFP, LONDONA US private equity firm has won an auction for British supermarket group WM Morrison Supermarket PLC, the UK’s Takeover Panel which oversees merger and acquisition deals said on Saturday. The panel said that Clayton Dubilier & Rice LLC (CD&R) bid ￡2.87 per share, beating private equity giant Fortress Investment Group, which bid ￡2.86, the panel announced in a short statement. The winning bid values the company at about ￡7.1 billion (US$9.61 billion), Morrisons said. A person exits a Morrisons supermarket in London on Saturday. The auction was held because neither CD&R or Softbank Group Corp-owned Fortress lodged a final offer on their earlier bids.

BizLink to take over industrial solutions firmPRODUCT MIX BOOST: The binding deal with Germany’s Leoni is part of the wire harness maker’s long-term diversification plan, BizLink’s Liang saidBy Chen Cheng-hui / Staff reporterWire harness maker BizLink Holding Inc (貿聯控股) on Friday announced that it had reached a binding agreement with Leoni AG to acquire the German company’s Leoni Industrial Solutions for 451 million euros (US$522.9 million) in an all-cash transaction. BizLink chairman Roger Liang, center, and other company executives attend a news conference at the Taiwan Stock Exchange in Taipei on Friday. Photo: Chen Rou-chen, Taipei TimesLeoni Industrial Solutions last year reported revenue of 430 million euros. “BizLink’s acquisition of Leoni Industrial Solutions will boost our technical and service capabilities, solidify our global scale, bring us closer to customers and gain access to new industrial customers,” BizLink chairman Roger Liang (梁華哲) said in a statement. “The acquisition brings forward our long-term diversification plan and will provide BizLink with immediate gains within multiple secular growth industries.”The Leoni Industrial Solutions deal comes after BizLink completed the acquisition of Leoni’s electrical appliance business in 2017 and Speedy Industrial Supplies Pte Ltd last year.

Medigen to develop next-gen vaccine on Beta variantBy Kao Shih-ching / Staff reporterMedigen Vaccine Biologics Corp (高端疫苗) is planning to develop its next-generation COVID-19 vaccine by using a sequence of the Beta variant of SARS-CoV-2, which was first detected in South Africa, the company said in a statement on Thursday. The company’s animal tests showed that a booster shot built on the Beta variant prompted immunity in hamsters against all variants of the virus, it said. The logo of Medigen Vaccine Biologics Corp is pictured at the entrance to the company’s facility in Hsinchu on Aug. 31. Medigen in May conducted research on whether a third dose of its current vaccine would bolster immunity against the original SARS-CoV-2 virus, the company said. Hamsters that were given two shots developed on the original virus and a third shot based on the Beta variant developed the highest antibody levels, regardless of whether they were infected with the Alpha, Beta, Gamma or Delta variants, the company said.

Members of the public have filed 300 to 400 light pollution complaints per year since the promulgation of the Light Pollution Control Guidelines (光污染管理指引) in March last year, the EPA has said. While the EPA is the government authority in charge of dealing with light pollution, Lin said, all that the agency could come up with for combatting the issue was a set of guidelines — the Light Pollution Control Guidelines. Light pollution should be considered when these assessments are conducted, and the government should regulate it in the same way that the Air Pollution Control Act (空氣污染防制法) regulates air pollution and the Noise Control Act (噪音管制法) regulates noise pollution, he said. The existing Light Pollution Control Guidelines mainly serves as a reference when government agencies receive complaints from the public, he said. “A provision regulating light pollution should be added as the final component of environmental impact assessments,” he said.

Gasoline, diesel prices to rise by NT$0.1 per literBy Chen Cheng-hui / Staff reporterCPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday said they would raise gasoline and diesel prices by NT$0.1 per liter this week, effective today, after keeping their fuel prices unchanged last week. Prices at CPC stations would rise to NT$28.3, NT$29.8 and NT$31.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would increase to NT$25.4 per liter, CPC said in a statement. Prices at Formosa stations would rise to NT$28.3, NT$29.7 and NT$31.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would increase to NT$25.2 per liter. Formosa said in a separate statement that surging natural gas prices had led to increased demand for fuel for power generation, which in turn pushed up crude oil prices. However, a stronger US dollar and an unexpected increase in US crude oil inventories capped the increase in oil prices last week, Formosa added.

EDITORIAL: Reinvesting during China’s outagesOver the past two to three decades, Taiwan’s tepid economy has been routinely compared with China’s rapid growth. China’s continuous growth has led some to think that it would leave its rivals, including the US, far behind. In the peak season for manufacturers, Beijing has had to resort to power rationing because of electricity shortages in some parts of China. Whatever its goals, Beijing’s unexpected power rationing has not only affected Chinese industries, but also foreign companies, including those in Taiwan. The business environment in China — from regulatory tightening to Evergrande Group’s financial turmoil to the recent power rationing — is deteriorating, pushing investment risks higher.

Local firms taking risk in ChinaBy Liu Ming-te 劉明德In the short, medium and long term, Taiwanese businesses operating in China are likely to face three major problems. In 2018, China imported more than 80 million tonnes of coal from Australia, or more than 20 percent of total coal imports that year. As a result, Taiwanese businesses operating in China will in the foreseeable future likely experience frequent power outages and must prepare for them to increase in duration. Taiwanese businesses operating in China might therefore come under significantly increased pressure from local governments, including with regard to taxation, environmental regulations and labor disputes. Finally, if Taiwanese businesses operating in China believe that the CCP would not know how much money they have made, then they are naive in the extreme.

Third quarter is busiest for Asia IPOs on record with US$56 billion in dealsBloombergAsia has had its best third quarter on record for initial public offerings (IPOs), even with Hong Kong turning quiet as many firms put listing plans in the regional powerhouse on hold amid China’s sweeping regulatory clampdown. Photo: BloombergAsia’s record third-quarter came despite the slowdown in Hong Kong, one of the world’s busiest listing venues. That saw listing volumes in the financial hub dip to US$6 billion in the third quarter, trailing South Korea for the first time in four years. Chinese firms that had initially eyed Hong Kong or US listings might opt to raise money privately instead as they wait for the clouds to clear. London-based insurer Prudential PLC fetched US$2.4 billion in a Hong Kong share sale last month in one of the territory’s biggest follow-on offerings of the year.