■ Aviation
Low-cost flights considered
South Korean flag carrier Korean Air said yesterday it may set up a low-cost carrier for short-distance international routes amid an expected raise in competition over short-haul travel within the region. "We will consider establishing a separate low-cost carrier, if needed for short-distance overseas services. We have already studied it and preparations are under way," Korean Air chairman Cho Yang-ho told reporters. Cho said the low-cost carrier could operate independently from Korean Air, in a move which may prompt carriers in Japan and other Asian countries to intensify competition. Korean Air is the world's third largest air cargo carrier and the 15th largest in terms of passenger numbers. The carrier posted a net profit of 472 billion won (US$467 million) last year with sales rising 16.7 percent year-on-year to 7.21 trillion won, thanks to increased demand for air travel and cargo transportation.
■ Inflation
Consumer price index up
Hot on the heels of the Federal Reserve's tough new line on inflation came alarming news Wednesday that US consumer prices posted their biggest gain in four months in February. Surging energy prices fuelled a 0.4 percent rise in the consumer price index (CPI) last month, the US Labor Department reported. The core CPI rate, which excludes volatile food and energy costs, rose 0.3 percent. The markets had been expecting the headline figure to go up 0.3 percent and the core rate to rise by 0.2 percent. The figures came a day after the Federal Reserve's Open Market Committee (FOMC) shocked Wall Street with strong language on inflation as it raised interest rates by 25 basis points to 2.75 percent.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from
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