■ 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.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
RSS