State-owned oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it would hike prices for gasoline and diesel by NT$0.2 and NT$0.3 per liter as crude import costs rose after supply concerns jacked up global crude prices amid escalating tensions in oil exporter Iraq.
OPEC decided to keep unchanged its daily output target at 3,000 barrels, raising worries that supply would tighten during crude consumption peak season in the second half of the year, CPC said in a statement posted on its Web site.
Adding to jitters over supply, the US said its commercial crude stocks dropped last week, according to the statement.
Global crude prices rose 0.61 percent last week to US$107.9 per barrel, compared with US$106.37 in the previous week, CPC said.
Factoring in the New Taiwan dollar’s appreciation of NT$0.037 versus the US dollar, domestic fuel prices should climb 1.05 percent, it said.
Formosa Petrochemical Corp (台塑石化), the nation’s sole private-run oil refiner, yesterday also said it would increase gasoline and diesel prices by NT$0.2 and NT$0.3 per liter.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained