Taiwan, Lithuania deepen economic ties in meeting
Taiwan, Lithuania deepen economic ties in meetingBy Crystal Hsu / Staff reporterLithuania reaffirmed via videoconference yesterday evening its intention to open a trade office in Taiwan this spring, while Taiwan reiterated pledges of US$200 million in investment funds and US$1 billion in credit loans, as the two nations work toward deepening their economic cooperation. “Whichever companies from Taiwan and Lithuania are interested in investment projects or joint ventures in Lithuania can apply for the investment funds and credit loans,” Kung said. National Development Council Minister Kung Ming-hsin speaks to reporters in Taipei yesterday. The trade office in Taiwan is under administrative review and should be established soon, along with outposts in other parts of the world, she said. Kung promised to lend a helping hand and said that a trade office in Taiwan would help expand the scope of cooperation.
Source:Taipei Times
January 11, 2022 22:01 UTC
GoStations set to outnumber gas stations
GoStations set to outnumber gas stationsBy Lisa Wang / Staff reporterElectric scooter maker Gogoro Inc (睿能創意) this year expects its number of electric battery swapping stations to outstrip the number of gas stations in the nation following seven years of deployment, a sign that electric two-wheelers are gaining traction. The number of gas stations operated by CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) was 2,487. Photo: Tyrone Siu, Reuters“By the end of this year, we are very confident that the number of battery swapping stations will surpass the number of gas stations nationwide,” Gogoro vice president for energy services Alan Pan (潘璟倫) told a news conference yesterday. Gorogo aims to deploy more large-scale electric battery swapping stations, dubbed Super GoStations, and other stations in collaboration with government agencies, Pan said. The company also plans to add battery stations in more remote areas, he said.
Source:Taipei Times
January 11, 2022 22:01 UTC
Indonesia eases ban on thermal coal shipments
Indonesia eases ban on thermal coal shipmentsCOAL CONUNDRUM: To ensure the state power utility does not run low on fuel again, the government is mulling new policies, including a levy system for minersReuters, JAKARTAChinese thermal coal futures fell yesterday after Indonesia, the world’s biggest thermal coal exporter, eased a ban on overseas shipments that surprised buyers at the start of the year, alleviating concerns about supply disruptions. The ban, which came into force on Jan. 1, triggered a rally in Australian and Chinese coal prices last week, but Chinese thermal coal futures yesterday fell more than 3 percent to 685 yuan (US$107.50) in reaction to the relaxation. “There is still demand for Indonesian coal from Chinese power plants,” one China-based trader said, adding that some might turn to Russian coal as an alternative. Shares of top Indonesian coal miners PT Bumi Resources Tbk, PT Adaro Energy Tbk and PT Indika Energy Tbk rose in early trading yesterday before paring gains. The document puts the potential levy at US$3.87 a tonne, which could provide an estimated US$2.5 billion a year to help PLN procure coal.
Source:Taipei Times
January 11, 2022 18:59 UTC
Combined revenue of listed companies rises 10.77 percent
Combined revenue of listed companies rises 10.77 percentWINNERS AND LOSERS: Shipping, iron and steel, and plastics firms posted the highest revenue rises last year, while the tourism sector underperformedBy Chen Cheng-hui / Staff reporterThe combined revenue of the 960 companies listed on the Taiwan Stock Exchange last month increased 10.77 percent year-on-year to NT$3.805 trillion (US$137.4 billion), the exchange said yesterday. The exchange in a statement said that 643 firms reported revenue growth, while 317 reported a decline. The combined revenue of listed firms last month grew 26.42 percent from December 2019, before COVID-19 was a factor, it added. Meanwhile, rubber manufacturers, some electronics companies, and biotechnology and healthcare firms reported relatively large revenue declines last month, the exchange said. Accumulated revenue for the 960 listed firms for the whole of last year was NT$38.165 trillion, up 15.19 percent year-on-year, the exchange said, adding that the increase from 2019 was 16.47 percent.
Source:Taipei Times
January 11, 2022 18:59 UTC
Helen Mirren: is the Israeli icon Golda Meir a role too far?
Helen Mirren: is the Israeli icon Golda Meir a role too far? It is the latest instance of a ‘Jewface’ row, a backlash to the assignment of a major Jewish role to someone not from that minority background. Helen Mirren the star of the 2006 film The Queen arrives to the premiere of the film in Beverly Hills, California. Actress Helen Mirren as Queen Elizabeth II in a scene from the 2006 film The Queen. It will not be the first leading Jewish role Mirren has played.
Source:Taipei Times
January 11, 2022 03:59 UTC
Fed rate increase makes outlook worse for SK won
Fed rate increase makes outlook worse for SK won‘WON DOWNSIDE’: After falling to a 17-month low last week, Goldman Sachs and Citigroup are urging a third BOK rate increase to prevent more selling off of the wonBloombergThe South Korean won was Asia’s worst performer over the past six months, and technical indicators suggest the misery is not yet over. The won dropped to a 17-month low last week, breaching a key support level. Other indicators, including the moving average convergence-divergence, suggest that the tech-dependent currency could slip further against the US dollar. The Bank of Korea (BOK) could give traders more reason to sell the won on Friday if it disappoints the likes of Goldman Sachs Group Inc and Citigroup Inc, who are calling for a third rate increase sooner than later. US Department of the Treasury 10-year yields have surged to their highest since April last year, denting sentiment for emerging-market assets.
Source:Taipei Times
January 11, 2022 03:59 UTC
Hon Hai secures over 54,200 patents
Hon Hai secures over 54,200 patentsStaff writer, with CNAHon Hai Technology Group (鴻海集團), also known as Foxconn Technology Group (富士康科技集團), yesterday said it has secured more than 54,200 invention patents around the world, of which 62.5 percent were granted in the US and Japan. On its Web site, Hon Hai, the world’s largest electronics manufacturer, which assembles iPhones and iPads for Apple Inc, said it has received 17,600 patents in the US, or 32.5 percent of the total, and 16,200 patents in Japan, or about 30 percent. Hon Hai has also acquired more than 11,200 and 5,620 patents in China and Taiwan respectively. A Model T electric bus is pictured at the entrance to Hon Hai Precision Industry Co’s headquarters in New Taipei City’s Tucheng District on Monday last week. Photo: screen grab from FacebookAbout 17 percent of the patents obtained by Hon Hai was in the area of computer accessories, and 14 percent in semiconductors, it said.
Source:Taipei Times
January 10, 2022 22:00 UTC
COVID-19: Long-haul arrivals to await test results
COVID-19: Long-haul arrivals to await test resultsSTRATEGY TWEAK: Arrivals to Taiwan testing positive for COVID-19 are to be escorted to an ambulance via a special exit and hospitalized, the health minister saidBy Lee I-chia / Staff reporterStarting today, arrivals on long-haul flights must wait for the results of COVID-19 tests before finishing airport entry procedures, the Central Epidemic Command Center (CECC) said yesterday. Airport staff in protective gear assist passengers in the arrivals hall at Taiwan Taoyuan International Airport yesterday. “We urge inbound travelers to cooperate with airport staff, and avoid walking around while waiting for the COVID-19 test and for the result,” he added. Another local case is a child who is the son of an infected couple — case Nos. The sixth local case is a friend of case No.
Source:Taipei Times
January 10, 2022 21:58 UTC
As health concerns increase, automotive gadgets proliferate
As health concerns increase, automotive gadgets proliferateAFP, LAS VEGASWith personal health a rising priority around the world, the auto industry is on the hunt for new gadgets and accessories to make the vehicle cockpit feel safer for the driver and passengers. The objective is to transform vehicles “into a sort of health cocoon,” Valeo SA chief executive officer Christophe Perillat told a news conference at the Las Vegas trade show. US company Luminar Technologies Inc demonstrates its collision avoidance system at CES in Las Vegas on Wednesday. CabinAir Sweden AB and Marelli Corp also showcased air purification systems that could be installed inside the cockpit or in a cup holder. The company was in Las Vegas to launch the technology for the US, where there are dozens of casualties each year due to hyperthermia.
Source:Taipei Times
January 10, 2022 03:52 UTC
FEATURE: Taiwan, Hungary form tech partnership
FEATURE: Taiwan, Hungary form tech partnershipBy Lin Chia-nan / Staff reporterTaiwan and Hungary have joined forces to promote autonomous vehicle testing, with Taiwan’s chip industry seen as bringing “added value” to the partnership, experts said. Photo: Taiwan CAR Lab, National Applied Research LaboratoriesWhile the site covers only 1.75 hectares, much smaller than ZalaZone’s 265 hectare proving grounds — the largest in Europe — Hungary sees potential benefits in cooperating with Taiwan. “It is not the size that matters,” ZalaZone research and innovation head Zsolt Szalay told the Taipei Times in a video interview last month. Through the cooperation with ZalaZone, Taiwan would have early access to new EU legislation, allowing local firms to save costs and time when developing new automotive components, he said. Before autonomous vehicles can enter real-world settings, the transport infrastructure, such as traffic signals, should be digitized, he said.
Source:Taipei Times
January 09, 2022 22:09 UTC
Czech PM’s four-year plan to bulk up Taiwanese ties
Czech PM’s four-year plan to bulk up Taiwanese tiesBy Yang Cheng-yu and William Hetherington / Staff reporter, with staff writerCzech Prime Minister Petr Fiala on Thursday approved his government’s four-year administrative plan, which includes measures to bolster partnerships with Taiwan, as well as other democracies in East Asia. Czech Prime Minister Petr Fiala, right, gives a statement to the media in Lany, Czech Republic, on Nov. 28 last year. Photo: AFPThe plan reflects a continuation of former prime minister Vaclav Havel’s foreign affairs policies, which largely focused on strengthening partnerships with fellow democracies. In Taipei, the Ministry of Foreign Affairs on Saturday said that it welcomes the Czech Republic’s policies on the region, adding that it looks forward to further deepening ties with the European country. The Czech Republic’s successes in transitional justice and the protection of human rights have ensured its place within European politics, it added.
Source:Taipei Times
January 09, 2022 22:09 UTC
Sharetea to upgrade to TPEX trading
Sharetea started as a black tea stall on Taipei’s Nanyang Street in 1992 and established Lian Fa in 2004. Photo: CNAIts IPO prospectus showed that it operates 125 Sharetea outlets in the US, its largest market, and 44 shops in Hong Kong, the second-largest. In the first nine months of last year, Lian Fa posted NT$614 million in consolidated sales, up 31 percent from a year earlier. Lian Fa president Lai Po-yu (賴伯宇) said in the statement that Sharetea’s global expansion plan focuses on the US. Lian Fa has signed an agreement with a partner in Kuwait, where its outlet would be the only international hand-shaken beverage brand store, it said.
Source:Taipei Times
January 09, 2022 17:29 UTC
Revenue at T3EX surges as shipping rates remain high
Revenue at T3EX surges as shipping rates remain highBy Kao Shih-ching / Staff reporterFreight forwarder T3EX Global Holdings Corp (台驊國際) on Friday reported revenue for last year of NT$3.45 billion (US$124.6 million), up 90 percent from a year earlier, and cumulative revenue of NT$36 billion for the year, up 137 percent from a year earlier, on the back of high shipping rates. Port congestion and labor shortages, as well as COVID-19 lockdowns in Southeast Asian countries, continued to push sea freight rates upward, contributing to revenue momentum, the forwarder said. There is still a discrepancy between supply and demand in the sea shipping market,” T3EX said in a statement. The forwarder expects air cargo rates to remain high this year, as the disruption in the sea freight market could prompt more clients to utilize air services, it said. Revenue from its sea freight forwarding operation advanced 137 percent year-on-year to NT$16.2 billion, accounting for 41.8 percent of all revenue, it said.
Source:Taipei Times
January 09, 2022 17:29 UTC
EDITORIAL: Booster shots should be boosted
EDITORIAL: Booster shots should be boostedThe Central Epidemic Command Center (CECC) on Friday announced that people aged 18 or older who received their second dose of a COVID-19 vaccine 12 weeks or more before are eligible for a booster dose to improve immune protection against the Omicron variant of SARS-CoV-2. The announcement came after many public health and healthcare specialists suggested that the government consider shortening the booster interval for high-risk groups. Calls for earlier booster shots grew as four confirmed cluster infections within quarantine hotels were reported in Taoyuan and Taipei, and the daily imported case numbers continued to rise. Several local government heads also urged the CECC to provide earlier booster doses to front-line workers with higher infection risks. An Advisory Committee on Immunization Practices meeting was held on Thursday, and it recommended shortening the booster dose interval to 12 weeks.
Source:Taipei Times
January 09, 2022 04:11 UTC
Oil posts third weekly rise on outages
Oil posts third weekly rise on outagesBloombergOil rose for a third straight week as demand remained resilient, while supplies are frayed across the OPEC+ coalition and beyond. Kazakhstan’s biggest oil producer has altered output at the giant Tengiz field following protests, while Libyan production has also been crimped. “The oil market remains very tight and seems like it will go higher,” said Ed Moya, Oanda Corp’s senior market analyst for the Americas. TCO is a joint venture led by Chevron Corp that pumps about one-third of the nation’s oil. A deep freeze in Canada and the northern US has also disrupted oil flows this week.
Source:Taipei Times
January 09, 2022 00:57 UTC