Category: Business

Business

UN Backs Equal Earth Map in Historic Push to Replace Distorted Mercator World View

UNITED NATIONS — The United Nations General Assembly has endorsed a major shift in how the world could be represented on maps, backing the Equal Earth projection in a move aimed at correcting the dramatic distortions created by the centuries-old Mercator map. The resolution, passed on Friday with 164 member states voting in favor, encourages governments and institutions around the world to adopt the Equal Earth projection, which more accurately represents the relative sizes of continents. Only

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Business

How Democracy Changed Taiwan’s Streets — and What Traffic Safety Reveals About Freedom

TAIPEI, Taiwan — Taiwan's roads are often criticized for being dangerous, chaotic and unforgiving. For years, international media and frustrated residents have pointed to poor pedestrian protection, reckless driving and the country's high number of traffic accidents as evidence that Taiwan still has a long way to go. But according to a new feature by columnist Courtney Donovan Smith, Taiwan's changing traffic culture may also reveal something far bigger than road safety. It may show how profo

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Business

₱10K for a Killing? Cebu Gunman’s Chilling Account Points to Drugs, Possible Crime Network

CEBU CITY — A suspected gunman arrested after the fatal shooting of an online seller in Cebu City allegedly told investigators that he was paid ₱10,000 to carry out the killing, raising fresh questions about possible links between illegal drugs and contract-style violence in the city. The suspect, identified by police as Jun Abella Cabarrubias, 34, was arrested shortly after the August 9 shooting in Sitio Lawis, Barangay Pasil, Cebu City, where 38-year-old online seller Renevie Tanlangit Inot w

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Business

Inside Japan’s Century-Old Ice Craft That Has Become a Luxury Essential for Top Bars Worldwide

KANAZAWA, Japan — In the historic Japanese city of Kanazawa, blocks of crystal-clear ice are being carefully shaped, sliced and polished before beginning a journey to some of the world's most fashionable cocktail bars. For the craftsmen behind the process, ice is far more than frozen water. It is a luxury product. At Kuramoto Ice, a century-old company based in Ishikawa Prefecture on Japan's Sea of Japan coast, workers spend days producing exceptionally clear blocks designed to chill premium

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Business

EU Chief Heads to Greenland as Europe Moves to Strengthen Arctic Ties

NUUK, Greenland — European Commission President Ursula von der Leyen has arrived in Greenland for a two-day visit aimed at strengthening ties between the European Union and the strategically vital Arctic territory, as geopolitical competition over the region continues to intensify. Von der Leyen is due to sign a joint declaration with Greenlandic leaders, reinforcing the EU's long-term political and economic commitment to the Danish autonomous territory. The visit comes as Greenland's strategi

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Business

US Treasury to Auction Record US$100 Billion in Short-Term Bills as Cash Needs Surge

WASHINGTON — The US Treasury is set to auction a record US$100 billion in four-week Treasury bills, underscoring the government's growing need for short-term financing as Washington manages heavy cash requirements and prepares for another round of debt repayments. The auction is scheduled for Tuesday, with the bills set to mature on Oct. 6. The previous record for a four-week Treasury bill auction was US$95 billion, set in March, according to the Taipei Times report. Record Auction Highlight

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Business

Taiwan Fuel Prices Remain Unchanged Despite Sharp Rise in Global Oil Prices

TAIPEI, Taiwan — Taiwanese motorists will see no change in fuel prices this week despite a sharp surge in global crude oil prices, as CPC Corp, Taiwan and Formosa Petrochemical Corp announced they would keep domestic gasoline and diesel prices steady. The decision marks the sixth consecutive week that the two major fuel suppliers have maintained their domestic prices, even as renewed hostilities between the United States and Iran sent international crude oil prices sharply higher. Global Oil

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Business

Taiwan’s Foreign Exchange Reserves Climb Above US$600 Billion After Two Months of Declines

TAIPEI, Taiwan — Taiwan’s foreign exchange reserves climbed back above the US$600 billion mark in August, ending two consecutive months of declines as investment gains, a weaker US dollar and central bank intervention boosted the country’s holdings. Taiwan’s foreign exchange reserves rose by US$7.633 billion from July to US$601.904 billion, marking the largest monthly increase in more than a year, the Central Bank of the Republic of China (Taiwan) said. The rebound came after two months of fal

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Business

Taiwanese Writer Warns AI-Generated Works Could Destroy Literary Award System

TAIPEI, Taiwan — Artificial intelligence is delivering a serious blow to literature and the people tasked with judging it, Taiwanese writer Chu Yu-hsun has warned, saying that nearly 40 percent of novel submissions he reviewed this year appeared to be AI-generated. Chu said the growing flood of AI-written entries has transformed literary judging into what he described as one of the most difficult experiences of his career. Writing on Facebook on Saturday, Chu said the literary community is now

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Business

EVA Air to Raise Excess Baggage Fees Starting Sept. 29 as Travel Costs Continue to Rise

TAIPEI, Taiwan — Travelers flying with EVA Air could soon pay significantly more for extra luggage after the Taiwanese carrier announced that it will raise excess baggage fees and revise several other international baggage charges starting Sept. 29. The airline said the changes are being introduced in response to higher fuel prices and rising global operating costs, with the new rates applying to international flights with travel dates on or after Sept. 29. The revised policy will affect charg

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