Citibank Taiwan Ltd (台灣花旗) and United Way of Taiwan (UWT) yesterday announced the launch of their 24th annual fundraising campaign in Taipei, calling for charitable donations from the public to fund small and medium-sized social welfare groups and help those in need.
Citibank Taiwan chairman Paulus Mok (莫兆鴻) said for the past years, there have been many people who have silently supported the Citi-United Way Fundraising Campaign, adding that their seemingly “ordinary” act has in fact created many “extraordinary” and touching moments for those in need.
He said Citibank Taiwan has been serving customers in Taiwan for more than 50 years and it has always taken corporate social responsibility seriously, by not only encouraging staff member and clients to make charitable donations, but also incorporating innovative thinking to help people with different needs through various programs, such donating solar panels and holding toy recycling programs.
Photo courtesy of Citibank Taiwan Ltd
UWT director Chen Yong-Ching (陳永清) said the annual Citi-United Way Fundraising Campaign each year helped more than 1.1 million people with different needs in Taiwan.
He said as donors are usually concerned about how the donations are put to use, about 200 specialists and committee members last year spent more than 9,700 hours to reasonably allocate the about NT$260 million (US$8.4 million) to 330 small and medium-sized social welfare groups.
Chen said he personally observed two issues that needed to be addressed in the past few years: one is elderly people being left behind in rural areas due migration from rural to urban areas, and the other is how the growing number of new immigrants and their children adapt to Taiwanese culture and society.
Chen said while coordinating with the government’s Long-term Care Service Program 2.0 and children education policies, the UWT hopes that members of the public can also support those in need of better care or education through the fundraising campaign.
Taiwanese singer Cheer Chen (陳綺貞) was invited to be the charity ambassador for the 24th Citi-United Way Fundraising Campaign, and echoing the Year of the Pig next year, Taiwanese illustrator Magger designed the visual character for this year’s campaign, which is a smiling pink pig wearing an orange-and-yellow shirt and carrying a camera.
Cheer Chen said the pig carries the camera to take pictures of “love” in everyday life, which suggests that people might feel ordinary, but they can do something extraordinary for others by just changing their perspective and doing a small act, such as donating to help people in need.
The fundraising campaign will run until Feb. 28 next year.
People who donate NT$500 or more for 12 consecutive months or make a single donation of more than NT$6,000 are to receive a specially designed pig doll and a beverage bag.
More details about the campaign can be found at its official Web site (www.unitedway.org.tw/citi24/).
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US
CORPORATE SCANDAL: Cathay Life has invested NT$13.3 billion in Bank Mayapada since 2015, but the latest loss of NT$8.8 billion has completely written off its investment Cathay Life Insurance Co (國泰人壽) yesterday said it would recognize an investment loss of NT$8.8 billion (US$298.1 million) in Indonesia’s Bank Mayapada Internasional Tbk PT due to concerns about the lender’s operations amid a corporate scandal. The company said it would revise its earnings result for June, from a net profit of NT$6.52 billion to a net loss of NT$520 million, its first monthly loss over the past 17 months. After booking an investment loss of NT$5.2 billion in Bank Mayapada earlier this year, Cathay Life has so far recognized total investment losses of NT$14 billion in the lender, executive vice president
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported that revenue last month expanded 25 percent annually, but fell 12.8 percent month-on-month to NT$105.96 billion (US$3.59 billion). In the first seven months of this year, the chipmaker’s revenue surged 33.6 percent to NT$727.26 billion, compared with NT$544.46 billion a year earlier. TSMC has said it aims to grow its revenue by more than 20 percent this year. The company has since May 15 stopped taking new orders from Huawei Technologies Co (華為), its second-biggest customer after Apple Inc, due to the US’ restrictions on exports containing US technologies. TSMC has no plans to
The US stock market has been on a tear, yet the country’s economy is in the dumps. So why do so many people believe — undoubtedly incorrectly — that the stock market has decoupled from reality? The economy many people experience, while bleak, is local, personal and, for the most part, either not publicly traded or plays only a small part in the stock market’s moves. To explain why these personal experiences have so little effect on equity markets, we must look more closely at the market role of the weakest industry sectors. The surprising conclusion: The most visible and economically vulnerable