CECC expects another COVID wave driven by BA.5 subvariant to peak mid-September

2022-08-25

The CECC says Taiwan will likely see another peak in local COVID infections in mid-September. The wave would be driven by the BA.5 omicron subvariant, which is highly capable of reinfecting people who were previously infected by the BA.2 subvariant.

With the Mid-Autumn Festival around the corner, health officials say that older adults and children who have not been vaccinated should avoid attending gatherings.

重複感染成BA.5特性 "沒確診過"感染機率較高

2022-08-25

BA.5具有免疫逃脫特性，感染過BA.2的人，可能再次重複感染，本土疫情再度升溫，指揮中心預估，9月中將進入疫情高峰。

面對即將到來的中秋節，指揮中心建議老人和小孩，如果還沒打疫苗，先別參加聚餐或中秋節活動。

The General Overview of the ISSB

The Taiwan Accounting Research and Development Foundation (ARDF) hosted the webinar “The General Overview of the ISSB”, inviting Ms. Katie Schmitz Eulitt, from the International Financial Reporting Standards ( IFRS)Foundation, to share the current development of the International Sustainability Standards Board (ISSB). There were more than 300 people attending this webinar on August 25,2022.

At the beginning, Dr. Chen-Shan Chang, Director-General, the Securities and Futures Bureau of the Financial Supervisory Commission (FSC), mentioned in his speech: 「The SFC has referred to the TCFD and SASB for Taiwan listed companies to strengthen the disclosure quality of the ESG reporting. Starting from 2023, Taiwan listed companies will be required to disclose their carbon emission information by the size and industry of companies.

Dr. Doris Wang, Chairperson of the ARDF, said that under the guidance of the FSC, the ARDF is also conducting research projects to traditional Chinese translation of the sustainability disclosure standards proposed by the ISSB.

Katie mentioned that the IFRS Foundation announced the establishment of the ISSB on COP26 last November, and consolidated the Value Reporting Foundation (VRF), which initially released the SASB Standards. The ISSB has released the drafts of IFRS S1 and IFRS S2 recently, was opened for comments until the end of July this year.

The ISSB has received more than 1,300 comment letters all over the world. Katie further explained that the preliminary analysis of the comments can be classified as five key points: proportionality, enterprise value, timing, data challenges, and industry-based requirements.

Mr. Zhong-Hao Huang, Director, Accounting and Auditing Supervision Division, Securities and Futures Bureau, FSC, mentioned that from the comment drafts received by the ISSB, the compliance of enterprises could require the competent authorities to adjust and arrange regulations. Mr. Huang believed that the most challenging thing would be the timing of the release of the ESG report, whether referring to the financial report. In addition, under globalization and supply chain, it is necessary to observe the progress of the international regulations trend to find a feasible way. In addition, the panel discussion was held during this session： The webinar host, Dr. Doris Wang, the chairperson of the ARDF; Ms. Katie Schmitz Eulitt, Senior Market Co-Leader for APAC, IFRS Foundation; Dr. Chen-Shan Chang, Director-General, Securities and Futures Bureau of the FSC; Mr. Zhong-Hao Huang, Director, Accounting and Auditing Supervision Division, Securities and Futures Bureau of the FSC, Mr. Winston Yu from KPMG in Taiwan; Mr. Ho,Brian Chi Kuen from Deloitte Singapore; Alice Fang from Deloitte Taiwan.

"Exploring the Industry Classification of Listed Companies in Taiwan: Reference to SASB New Industry Classification (SICS)" published according to the SASB “Sustainable Industry Classification System” will be released in the second edition next month. Dr Doris Wang, Chairperson of the ARDF, who is also the author. Doris said that the second edition currently has been applied to SASB for authorization. This eBook will continue to improve the understanding of the standard industry classification codes of Taiwan enterprises.

2022-08-25

KMT vice chair meets head of China’s Association for Relations Across the Taiwan Straits

2022-08-25

Doctors use long-term study to develop obesity-linked disease detection system

2022-08-25

Four-day hot air balloon festival kicks off in Taichung’s Shigang District

2022-08-25

Labor representative proposes raising minimum wage to NT$28,000

The Ministry of Labor’s salary review committee is set to convene Sept. 1 to discuss adjustments to the minimum wage. Labor representatives say the government should significantly raise the base salary amid soaring inflation. One representative says the minimum monthly salary should be brought up to NT$28,000. Meanwhile, businesses representatives say that the government should also consider the impact of inflation on operating costs.

Black tea, milk powder and brown sugar go in the shaker and given a thorough mix. The drink is poured into a cup to make this shop’s signature bubble tea. Mr. Yeh works here part time. He says he makes 15 to 30 drinks per hour, for which he gets paid NT$170. It’s barely enough to get by.

Mr. Yeh
Barista
Food is getting more expensive. My wallet can barely take it. Of course I’d like wages to go up. The minimum hourly wage could go to NT$175, or NT$173. Or better yet, up to NT$180.

Tai Kuo-jung
Trade union representative
I would like to see the minimum monthly wage be adjusted in one go to NT$28,000. According to the OECD, low-income workers refer to people who have a net income below two-thirds of the median. In Taiwan, anyone with monthly earnings below NT$28,000 is low-income.

Inflation and rising material costs are sending prices soaring. Earlier this year, the minimum monthly wage was adjusted up by 5.21%. The wage review committee is scheduled to discuss any further adjustments on Sept. 1. Labor representatives say they hope the minimum monthly wage can be sorted out in one go, and be raised from the current NT$25,250 to NT$28,000, an increase of 10.9%. Business representatives say that’s too much.

Hsu Shu-po
General Chamber of Commerce
Every time, labor representatives ask for very high salaries. But in the end, it’s the Ministry of Labor that makes the final decision. Of course inflation is putting a lot of pressure on employees. But it’s also putting a lot of pressure on businesses, which are seeing rising material costs.

Voice of Lee Chien-hung
CCU Labor and Human Resources Dept.
I do agree that the base wage should be revised up next year. With inflation at 3%, and economic growth of 1.5% to 1.6%, add those up and you get a rise of 4.5%.

Experts say the minimum wage should be adjusted to keep up with inflation and economic growth. But they argue that the raise should not exceed 5% to avoid an impact on consumer prices. Meanwhile, the head of the General Chamber of Commerce says that inflation affects both labor and businesses, saying that big wage hikes would only put additional pressure on businesses. He adds that the government should draw up a system to calculate adjustments to prevent tensions between laborers and employers.

2022-08-25

Low precipitation this summer brings down water levels at reservoirs

This summer was an especially hot one with little rainfall. Taiwan recorded an average of just 28.2 millimeters of rain in all of July, the lowest amount in 12 years. Reservoirs are running low, and, with high electricity consumption due to the heat, concerns are rising on how long the situation can hold on.

The sun scorches down. This year, summery clothes barely provide a shield from the heat. A strong North Pacific High and a lack of typhoons have resulted in little rainfall in Taiwan this summer. In July, Taiwan saw an average of just 28.2 millimeters of precipitation, about a third of last year. Reservoirs in the country are running low: Keelung’s Xinshan Reservoir and Nantou’s Wushe Dam are currently both at around 40% capacity.

Wang I-feng
Water Resources Agency
Over July the Keelung region only had 31 millimeters of precipitation, in August there’s only been 52 millimeters so far. Such level of rainfall is only over 20% of years past. The Xizhi area has two water sources: one from Xinshan Reservoir and another from Feitsui Reservoir. We’re currently working on increasing the amount of water directed at the Xizhi area to take water supply pressure off Xinshan Reservoir.

Electricity consumption has also increased as a result of high temperatures. At 1:30 p.m. Wednesday, electricity consumption soared to 39.795 million kilowatts, the second-highest peak recorded this month. The operating reserve fell to 5.01%.

Voice of Wu chin-chung
Taipower spokesperson
Yesterday the solar panels in Southern Taiwan were affected by the weather, but the situation had improved today, so there’s more electricity generated by solar PVs. The highs have slightly dipped by around 1 degree Celsius, so the overall energy supply shouldn’t be much of a problem.

Liu Pei-teng
CWB forecaster
From the evening of Aug. 27 to Aug. 28, there will be a soft northerly wind. So Northern Taiwan and the Yilan region will see scattered showers between the evening of Aug. 27 and Aug. 28. Other regions will more or less experience afternoon thundershowers. By Sunday there will be more moisture.

The Central Weather Bureau says a front could approach Taiwan next Thursday, bringing down temperatures across the island.

2022-08-25

Coral reefs surrounding Taiwan undergoing mass bleaching event

2022-08-25

Nantou fights predatory carp that disturb ecology of Sun Moon Lake

2022-08-25

Taiwan Plus Life Festival to be held in Tokyo

2022-08-25

Export of Taiwanese pomelos to Japan thriving after Beijing bans imports

2022-08-25

Defense ministry says officers followed standard procedures in response to drone intrusion

The Ministry of National Defense says officers in Kinmen’s Erdan Island followed the relevant procedures in response to a drone intrusion earlier this month. The ministry has confirmed that a Chinese civilian drone had approached a sentinel station on the island on Aug. 16. Amid concerns that drone intrusions could become more commonplace in the future, experts say Taiwan must make good use of anti-drone systems, which are due to be installed next year. The systems will allow Taiwan’s military to identify potential threats, as well as launch response mechanisms adapted to a wide variety of situations.

A Chinese drone approaches a sentinel station on Erdan Island. Soldiers throw stones at it to drive it away. Before leaving, the drone captured a high-definition photo of two of the soldiers.

The Kinmen Defense Command on Wednesday confirmed that a civilian drone had approached the area on Aug. 16. It said that the soldiers on duty had carried out identification and response measures and reported the sighting, while the soldiers off duty spontaneously decided to throw stones at the drone. The officers involved had abided by the principle of “preparing for war without starting a war” and had avoided escalating the incident and causing conflict while taking any necessary precautions.

In a press release on Wednesday, the Ministry of National Defense said that after Taiwan’s drone defense system is installed next year, defense operations in outlying islands will have priority for its usage to respond to gray-zone threats.

The drone defense system was developed by the National Chung-Shan Institute of Science and Technology. The remotely-operated system has optoelectronic, surveillance and interference functions.

Hsu Chih-hsiang
Institute for National Defense and Security Research
The drone spotted in Kinmen was likely a small multi-axis camera drone. When countering unmanned systems, there are many considerations and approaches, ranging from soft kills and interference to hard kills. By the time we can see drones with our bare eyes, it is too late. You have to construct a surveillance system that can detect drones before launching interference operations and countermeasures.

Taiwan recently inaugurated a drone research and development center in Chiayi, aimed at establishing a national team with expertise in unmanned aerial vehicles. A DPP lawmaker recently pointed out that although Taiwan’s government does not utilize China-made drones, it is difficult to control whether members of the public use Chinese drones. He says that the back-end of the drone systems should be kept in Taiwan, so that data is not sent to China, giving rise to security concerns.

Hsu Chih-hsiang
Institute for National Defense and Security Research
Some countries buy Chinese drones and adjust them, but they don’t say how.
The U.S. Special Forces, like the U.S. Navy SEALs, and Germany’s army have purchased drones from Da Jiang Innovations for training. They won’t use them in actual battle scenarios, but it’s to see how their adversaries could potentially use these drones. Then, you can learn how to counter them. The drones are modified to remove components that could give rise to information security concerns. They can be used as targets, and to familiarize troops with equipment that the enemy might use.

As technology advances, warfare, too, changes. And as drones become more ubiquitous, Taiwan’s military must figure out how to effectively deal with a growing threat.

2022-08-25