Kwang Yang invests NT$40m in battery unit
“We want to offer diverse battery swapping options other than battery swapping stations. “We will not stop deploying battery swapping stations.”Kwang Yang has to date built 420 battery swapping stations, lagging behind its schedule as COVID-19 pandemic restrictions slowed its progress. The company currently has 437 battery swapping stations at CPC stations. Kwang Yang said CPC is one of its major partners, with about 100 swapping stations to be deployed at CPC stations. The company is also in talks with other gasoline suppliers, including the one operated by Shang-long Transportation Co (山隆通運), to build battery swapping stations.
Source:Taipei Times
August 31, 2021 15:56 UTC
China’s factory activity slows, while services slump
China’s factory activity slows, while services slumpReuters, BEIJINGChina’s businesses and the broader economy came under increasing pressure last month as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth. The manufacturing PMI showed demand slipped sharply, with new orders contracting and a gauge for new export orders falling to 46.7, the lowest in more than a year. Adding to signs of a broadening economic slowdown, COVID-19-related restrictions drove services sector activity into sharp contraction for the first time since the height of the pandemic in February last year. The official non-manufacturing PMI last month was 47.5, well down from July’s 53.3, bureau data showed. The official composite PMI for last month, which includes both manufacturing and services activity, fell to 48.9 from July’s 52.4.
Source:Taipei Times
August 31, 2021 15:56 UTC
Prosus to acquire India’s BillDesk for US$4.7 billion
Prosus to acquire India’s BillDesk for US$4.7 billionONLINE SERVICE: The European firm’s PayU unit has struck a deal to buy the Indian start-up, creating a digital payment giant with a total volume of US$147 billionBloombergProsus NV has agreed to acquire Indian online payment service BillDesk for 345 billion rupees (US$4.7 billion), making its largest global acquisition to date in the Asian nation. The European investment powerhouse’s PayU unit has struck a deal to buy the 11-year-old start-up, creating a digital payment giant with a total volume of US$147 billion. It would take Prosus’ investment in India to more than US$10 billion to date, the company said in a statement. Prosus, whose biggest investment is Tencent Holdings Ltd (騰訊), would be getting in on an Indian payment arena on the cusp of taking off. Its PayU unit grew total payment volume 51 percent in the year ended March to US$55 billion, Prosus said.
Source:Taipei Times
August 31, 2021 15:56 UTC
Storey wins ‘race of truth’ for 16th gold
Storey wins ‘race of truth’ for 16th goldRECORD HOPES: If the cyclist can retain her C4-5 road race title for a Tokyo gold medal hat-trick tomorrow, she would become the greatest ever British ParalympianAFP, TOKYOCycling queen Sarah Storey yesterday said she had to conquer a “race of truth” as she claimed a British record-equalling 16th Paralympic gold medal. “It’s the race of truth,” said Storey, who was born without a functioning left hand. Twenty-nine years later, she looks unassailable having broken her own world record in the pursuit and taken her third successive C5 time trial gold. However, she said she would not be taking for granted winning a third successive road race tomorrow, after taking gold in London in 2012 and Rio de Janeiro five years ago. “Road races are so unpredictable, they really, really are,” she said.
Source:Taipei Times
August 31, 2021 15:56 UTC
First autonomous cargo ship faces test in February
First autonomous cargo ship faces test in FebruaryBloombergIn just two decades from now, half of all domestic ships plying Japan’s coastal waters might be piloting themselves. That is the ambitious goal of the Nippon Foundation, a public interest organization backing the nation’s development of ocean-traversing autonomous ships. Photo: BloombergAccording to Nippon Yusen, the 380km voyage would be the world’s first test of an autonomous ship in an area with heavy marine traffic. The global market for autonomous shipping could grow to be worth about US$166 billion by 2030. The “immense challenge” would be developing a regulatory environment and industry standards around autonomous shipping by then, he said.
Source:Taipei Times
August 31, 2021 15:56 UTC
Chang Hwa Bank expects profitability to improve
Chang Hwa Bank expects profitability to improveBy Crystal Hsu / Staff reporterState-run Chang Hwa Commercial Bank (彰化銀行) yesterday said it expects profitability to improve in the second half of the year, despite a lackluster showing in the first six months, as growing vaccination rates at home and abroad would make operating conditions more friendly. A Chang Hwa Commercial Bank branch in Taipei’s Zhongshan District is pictured on June 2. Chang Hwa Bank’s loan-to-deposit ratio edged up to 76.39 percent last quarter, compared with 76.15 percent three months earlier, and should gain strength moving forward, officials said. The downtrend might reverse in the second half, as the world further emerges from the COVID-19 pandemic, giving customers and the bank more confidence about doing business, officials said. Chang Hwa Bank said it would raise its holdings of local shares during price corrections, guided by the principle of stability in dealing with investment funds.
Source:Taipei Times
August 31, 2021 15:56 UTC
COVID-19: Reward for travel agencies raised to NT$1.1bn
COVID-19: Reward for travel agencies raised to NT$1.1bnBy Shelley Shan / Staff reporterThe Tourism Bureau on Monday raised the total reward for travel agencies that organize the most domestic tour groups during the COVID-19 pandemic to NT$1.1 billion (US$39.6 million) from NT$800 million announced previously. However, the announcement drew criticism from small and medium-sized travel agencies, which said that the program would only benefit large travel agencies that can afford large marketing campaigns to attract customers. The number of tour groups that can be subsidized with government funds should depend on the size of travel agencies, he added. Lion Travel general manager Andy Yu (游國珍) said that more travel industry operators are eyeing business opportunities that would be created through the issuance of travel vouchers, now that they can be used to cover a variety of travel expenses. Visitors can use the locker rooms and showers on condition that they provide contact information and observe disease prevention guidelines, it added.
Source:Taipei Times
August 31, 2021 15:56 UTC
Giving credit
Nvidia said to seek EU approval for Arm takeoverANTITRUST: The European Commission is likely to launch a 90-day full-scale probe after a 25-day preliminary review of Nvidia’s US$54 billion bid to acquire the chip designer Nvidia is likely to seek EU antitrust approval for its US$54 billion takeover of British chip designer Arm early next month, with regulators expected to launch a full-scale investigation after a preliminary review, people familiar with the matter said. The world’s biggest maker of graphics and artificial-intelligence chips announced the Arm deal last year, sparking an immediate backlash in the semiconductor industry. Arm has long been a neutral player licensing key intellectual property to customers that are otherwise intense rivals, including Qualcomm Inc, Samsung Electronics Co and Apple Inc. However, Nvidia said it has garnered the support of Arm customers Broadcom, MediaTek and
Source:Taipei Times
August 31, 2021 15:56 UTC
If Taiwan is lost, US loses, too: Craft
Craft made the remarks at the Ketagalan Forum — 2021 Asia-Pacific Security Dialogue. “If Taiwan is lost, we lose, too.”Taiwan should be included in the Quad as a “plus one” member, Craft said, adding that Taiwan should also participate in Japanese naval exercises. Speaking in a panel discussion, Project 2049 Institute chairman Randall Schriver — a former US assistant secretary of defense for Indo-Pacific security affairs under Trump — also stressed Washington’s commitment to Taiwan. If Taiwan is lost, it would be incredibly difficult to defend the first island chain, the Miyako Strait and freedom of navigation in the South China Sea, he said. Taiwan is also fully committed to collaborating with its neighbors to prevent armed conflict in the Taiwan Strait, and the East and South China seas, she said.
Source:Taipei Times
August 31, 2021 15:56 UTC
Protesters say climate policies ‘on life support’
Protesters say climate policies ‘on life support’By Hsieh Chun-lin and Kayleigh Madjar / Staff reporter, with staff writerSaying the nation’s climate governance is “on life support,” youth environmental groups yesterday issued an urgent call for policy reform with the goal of reaching net-zero emissions by 2045. Representatives of several environmental groups from central Taiwan perform at a news conference in Taipei yesterday to urge the government to achieve net-zero carbon emissions by 2045, instead of 2050. With Taiwan’s climate governance “already on life support,” Su’s plan to target 2050 for net-zero emissions in an amendment to the Greenhouse Gas Reduction and Management Act (溫室氣體減量及管理法) does not show enough urgency, the coalition said. Winters are half as long, but if carbon emissions are not reduced soon, Taiwan might not have winter by 2060, he said. The complex burns one-third less coal than is burned at the Taichung Power Plant, but the Taichung plant is the fourth-largest coal-fired power plant in the world, she said.
Source:Taipei Times
August 31, 2021 15:56 UTC
EDITORIAL: Vague rules tearing families apart
EDITORIAL: Vague rules tearing families apartThe COVID-19 pandemic has challenged democracies worldwide with legal and ethical dilemmas, pitting public health against other core values such as privacy and freedom of movement. Since last year, foreign spouses have been calling for senseless spousal visa rules to be eased, but their concerns have fallen on deaf ears. Unaware of the policy and what constitutes a “humanitarian” reason, few immigration officials are recommending this route, inadvertently separating an estimated 1,000-plus spouses and children from their families. The vast majority of people would agree that the “humanitarian” thing to do would be to keep immediate families together, especially while weathering a global pandemic. Yet ambiguous rules — however well-intentioned — are adding undue stress to people already anxious about being separated from their partners, as well as to immigration officials who are unsure of the rules and reluctant to pass judgement on a case.
Source:Taipei Times
August 30, 2021 16:07 UTC
F1 under fire after Spa race ‘farce’
F1 under fire after Spa race ‘farce’Reuters, LONDONSunday’s rainswept Belgian Grand Prix will go down in history as Formula One’s shortest-ever race, and also as a leading contender for most farcical. The safety car leads Formula One drivers during the Belgian Grand Prix at the Spa-Francorchamps in Stavelot, Belgium, on Sunday. “If there were actually no race laps, no competition, why should points be given and any result be given, because there was basically no race?” said Ferrari’s Carlos Sainz, who finished 10th. “We wanted to race, our drivers wanted to race and of course we know you wanted to see a race,” Brown told fans in a video posted on Twitter. “The outcome should not be a race after three laps behind a safety car...
Source:Taipei Times
August 30, 2021 16:00 UTC
COVID-19: CECC reports three local COVID-19 cases
COVID-19: CECC reports three local COVID-19 casesBy Sherry Hsiao / Staff reporterThe Central Epidemic Command Center (CECC) yesterday reported three local COVID-19 infections, five imported cases and zero deaths. The five imported COVID-19 cases are two arrivals from Indonesia, and one each from the Netherlands, the Philippines and Thailand. The arrival from Thailand — a Taiwanese man in his 40s — had been vaccinated against COVID-19, CECC data showed. As of yesterday, the CECC had recorded 15,991 confirmed cases of COVID-19, including 1,413 imported and 14,525 domestic cases, with 834 deaths. From May 11 — when the last local outbreak began — to Saturday, 14,761 COVID-19 cases had been confirmed, CECC data showed.
Source:Taipei Times
August 30, 2021 16:00 UTC
THSRC first public transport service to issue green bonds
THSRC first public transport service to issue green bondsSUSTAINABILITY: The funds raised would be used to automate a maintenance depot and upgrade a passenger information systemBy Shelley Shan / Staff reporterTaiwan High Speed Rail Corp (THSRC) yesterday became the nation’s first public transport service provider to issue sustainability bonds to fund its green initiatives and social investment projects. Sustainability bonds refer to financing instruments in which the issuer uses all the funds raised for green initiatives, social investment projects or other related plans. The bonds must be issued based on the Taipei Exchange’s “Rules Governing the Issuance of Sustainability Bonds,” and can be traded on the over-the-counter market. “The issuance of the sustainability bonds shows our determination to fulfill our responsibilities to the environment, society and corporate governance, as well as our commitment to pursuing the sustainable development of the rail service,” it said in a statement. The Yenchao project is a green investment plan, as it would prevent and control pollution.
Source:Taipei Times
August 30, 2021 15:56 UTC
Police seize vapes, cannabis extracts
Police seize vapes, cannabis extractsEXTRA INGREDIENTS: Officers broke up an alleged criminal ring selling e-cigarettes containing cannabis extract, also seizing ketamine, guns and cashBy Jason Pan / Staff reporterLaw enforcement and health officials reminded the public that e-cigarettes and using or selling cannabis are illegal in Taiwan, after the arrest of five people in Taipei last week. Taipei police said over the weekend that they had broken up a criminal organization, whose members have been accused of selling e-cigarette oil containing cannabis extracts. Health officials and police inspect a store selling e-cigarettes and vaping products in New Taipei City on Aug. 6. When cannabis or other drugs are added to vaping oil, sellers and customers could be charged with contravening the narcotics act, health officials said. Ministry of Justice officials said yesterday that e-cigarettes and other vaping devices are being found more commonly on school campuses, often containing cannabis.
Source:Taipei Times
August 30, 2021 15:56 UTC