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Juventus beats Lazio 2-0 in Coppa Italia semis first leg

TURIN, Italy — Juventus earned a 2-0 advantage over Lazio in the first leg of their Coppa Italia semifinal on Tuesday when forwards Federico Chiesa and Dusan Vlahovic both scored for Massimiliano Allegri’s side in the second half.

The win edged Juventus closer to their 22nd final in the cup, which they have won a record 14 times.

The return leg will be played in Rome on April 23.

Juventus could have opened the scoring early in the game when they were awarded a penalty for Matias Vecino’s foul on defender Andrea Cambiaso but the referee overturned his decision after a VAR check showed that the Juve right-back was offside.

Lazio, who lost striker Mattia Zaccagni through injury in the 14th minute, looked better in the opening half, pressing for chances while they held more possession.

But the visitors, who on Saturday edged Juve 1-0 at home in Serie A with a last-gasp goal, struggled for precision and Chiesa eventually gave Juventus the lead five minutes after the break.

The Italy striker profited from a neat vertical pass by Mr. Cambiaso to strike from the edge of the box low inside the right post.

The goal sparked Juventus into life and Mr. Vlahovic doubled their advantage in the 64th minute, netting into the bottom far corner.

Weston McKennie played Mr. Vlahovic in from the right flank with a first touch for the Serbian to break into the box and score his 10th goal across all competitions since the turn of the year.

“It was a really difficult period for all of us, we knew we had to be up to this game,” Mr. Vlahovic told Mediaset.

“We played against a very strong team, with a strong coach. We gave everything and after the goal everything became easier.”

Juventus are unbeaten in their last 23 home games in the competition, a record streak for the Bianconeri in the tournament.

Their last home Coppa Italia defeat came in March 2015, a 2-1 loss to Fiorentina with a brace from Mohamed Salah.

Lazio, who have reached the Coppa Italia semifinals for the first time since 2018-19, ended the game with no shots on target, suffering five consecutive defeats away from home in the competition for the first time.

Fiorentina hosts Atalanta in the other semifinal on Wednesday. — Reuters

Powerful quake jolts Taiwan

FIREFIGHTERS work at the site where a building collapsed following the earthquake in Hualien, Taiwan, in this handout provided by Taiwan’s National Fire Agency on April 3, 2024. — TAIWAN NATIONAL FIRE AGENCY/HANDOUT VIA REUTERS

TAIPEI — A 7.2 magnitude earthquake rocked Taiwan on Wednesday, the strongest tremor to hit the island in at least 25 years, killing four people, injuring hundreds and sparking a tsunami warning for southern Japan and the Philippines that was later lifted.

Taiwan’s government said four people had died in the mountainous, sparsely populated eastern county of Hualien near where the epicenter was, with 711 injured.

The fire department said 77 people remained trapped, some in collapsed buildings in Hualien.

Taiwan television stations showed footage of buildings at precarious angles in Hualien, where the quake struck just offshore around 8am (0000GMT) as people were going to work and school.

The quake was centered just off the east coast at a depth of 15.5km (9.6 miles), according to Taiwan’s Central Weather Administration.

“It was very strong. It felt as if the house was going to topple,” said 60-year-old Taipei hospital worker Chang Yu-lin.

The presidential office said president-elect Lai Ching-te, who takes office next month, would visit Hualien later on Wednesday.

Video showed rescuers using ladders to help people out of windows, while elsewhere, massive landslides caused by the tremors carved down hillsides.

There was also strong shaking felt on Taipei’s subway system, which closed briefly to evacuate passengers though service resumed soon after on most lines.

Japan’s weather agency, which put the earthquake’s magnitude at 7.7, said several small tsunami waves reached parts of the southern prefecture of Okinawa.

The Philippines Seismology Agency issued a warning for residents in coastal areas of several provinces, urging them to evacuate to higher ground.

Taiwan also issued a tsunami warning, but reported no damage from that, and the Pacific Tsunami Warning Center in Hawaii later said the risk of damaging tsunami waves had passed.

Aftershocks could still be felt in Taipei, with more than 50 aftershocks registered, according to Taiwan’s central weather administration.

Chinese state media said the quake was felt in China’s Fujian province, while a Reuters witness said it was also felt in Shanghai.

Electricity operator Taipower said most power had been restored, adding that the island’s two nuclear power stations were not affected by the temblor.

Taiwan’s high speed rail operator said no damage or injuries were reported on its trains, but noted trains will be delayed while it carries out inspections.

Semiconductor giant Taiwan Semiconductor Manufacturing Co. (TSMC), a major Apple and Nvidia supplier, said it had evacuated some fabrication plants and its safety systems were operating normally.

“To ensure the safety of personnel, some fabs were evacuated according to company procedure. We are currently confirming the details of the impact,” according to the company.

It later added that those evacuated were beginning to return to their workplaces.

Taiwan’s benchmark share index largely brushed off the impact of the earthquake, closing down 0.6%. TSMC’s Taipei-listed shares ended down 1.3%. — Reuters

J.K. Rowling will not face action under Scottish hate crime laws, police say

J.K. ROWLING — EN.WIKIPEDIA.ORG

LONDON — J.K. Rowling will not face any action under Scotland’s new hate crime law after she challenged it by asserting on social media that a number of transgender women were men, police said on Tuesday.

The Harry Potter author, a prominent gender critical campaigner, made the comments on Monday, the day that the crime of “stirring up hatred” relating to age, disability, religion, sexual orientation and transgender identity came into effect.

She was backed by British Prime Minister (PM) Rishi Sunak, who said people should not be criminalized for saying “common sense” things about biological sex.

Police Scotland said it had received complaints in relation to Ms. Rowling’s social media post.

“The comments are not assessed to be criminal and no further action will be taken,” a spokesperson said.

Scotland’s First Minister Humza Yousaf had said the bill was about “protecting people from a rising tide of hatred.”

“Unless your behavior is threatening or abusive and intends to stir up hatred, then you have nothing to worry about in terms of the new offences being created,” he said.

Women are not protected as a group, but the Scottish National Party-led government in Edinburgh is looking at separate reforms to target misogyny.

Scotland has been at the forefront of extending rights to the transgender community but a previous attempt to make it easier to change a legal gender was blocked by London over concerns it would impinge existing equality legislation.

The new hate crime law has also faced criticism over its impact on freedom of speech and concerns that it could be used to silence some views, including from those who advocate for women-only spaces.

Ms. Rowling tested the law by listing 10 trans women, including a convicted rapist, sex abusers and high profile activists, on X and saying they were men.

“Freedom of speech and belief are at an end in Scotland if the accurate description of biological sex is deemed criminal,” she said.

LAW GIVES POLICE ‘WRONG PRIORITIES,’ PM SAYS
“I’m currently out of the country, but if what I’ve written here qualifies as an offence under the terms of the new act, I look forward to being arrested when I return to the birthplace of the Scottish Enlightenment.”

Scottish ministers have previously said misgendering people would not be an offense under the new law.

However, Minister for Victims and Community Safety Siobhan Brown told BBC radio on Monday it would be a matter for police to decide.

Mr. Sunak said Britain had a proud tradition of free speech and that the new law had given the police the wrong priorities.  “We should not be criminalizing people saying common sense things about biological sex,” he told reporters. “Clearly that isn’t right.”

India Willoughby, Britain’s first transgender newsreader and one of those who was listed by Ms. Rowling, questioned why anyone should “publicly denigrate and mock” trans people.

“What a sad pathetic sight. The best-known author in the world sitting up all night to write a mega-long troll post about me, because she’s consumed by a hatred of trans people. Completely deranged,” India Willoughby said.

The Scottish Police Federation said officers were being asked to enforce new laws when resources were being cut.

“We are anticipating a high number of complaints in relation to social media posts and it is clearly going to create a lot of extra work,” it said. — Reuters

North Korea aims to switch to solid-fuel missiles for faster launches

SEOUL — North Korea successfully test-fired a new hypersonic missile, state news agency KCNA said on Wednesday, the latest step in a plan its leader Kim Jong Un described as aimed at using solid fuel to power its entire range of missiles.

The North is developing missiles and nuclear weapons undeterred by sanctions in the wake of United Nations (UN) Security Council bans, while analysts say solid-fuel missiles can be faster to deploy than liquid-fuel variants.

It drew swift condemnation from neighbors South Korea and Japan, as well as the United States for firing the intermediate-range ballistic missile (IRBM) into the sea on Tuesday.

Mr. Kim oversaw the launch of the new Hwasong-16B missile, KCNA said, calling it a strategic weapon showcasing the “absolute superiority” of the North’s defense technology.

It perfects the North’s project for “putting all the tactical, operational and strategic missiles with various ranges on solid-fueled, warhead-controlled and nuclear warhead-carrying basis,” Mr. Kim said, according to KCNA.

That would give North Korea the capacity for “rapidly, accurately and powerfully striking any target in the enemy side worldwide,” Mr. Kim said.

Analysts said it was unclear if the North would exclusively use solid-fuel missiles in future, and what the switch would mean for its arsenal of liquid-fuel weapons, such as its largest Hwasong-17 and Hwasong-15 intercontinental ballistic missiles (ICBMs).

North Korea may heavily favor solid-fuel systems where possible, but actually phasing out liquid-fuel weapons is likely to play out over years, said Ankit Panda of the US-based Carnegie Endowment for International Peace.

“There are obvious strategic advantages to an all-solid-fuel force for them in the form of greater promptness, responsiveness, and survivability,” he added.

North Korea would need to have high confidence in its production capabilities to allow solid-fuel missiles to sit for a number of years, during which they may develop imperfections that lead to in-flight failures, Mr. Panda added.

“India and other countries have had problems with this sort of thing with solid-fuel missiles,” he said. “Liquid-fuel missiles, despite their strategic disadvantages, don’t face this particular long-term handling problem.”

A move away from liquid fuel would be surprising, given recent state media coverage of such weapons, but would make sense if North Korea wants an extremely responsive missile force, said Decker Eveleth of the James Martin Center for Nonproliferation Studies in California.

“Solid-fuel missiles are much, much faster to get off the ground in an emergency,” he said in a post on X.

Such a shift could also see North Korea place some ICBMs in silos, in addition to the mobile launch vehicles it has exclusively used so far, Mr. Eveleth added.

North Korea’s pursuit of hypersonic vehicles helps its broader effort to field warheads tougher to intercept.

Warheads typically launched by such missiles travel at more than five times the speed of sound or about 6,200 kph (3,850 mph), often maneuvering at relatively low altitudes.

That maneuverability, not speed, is the most attractive feature of such weapons, analysts say, as the latter can sometimes be matched or exceeded by traditional ballistic missile warheads.

Tuesday’s launch, which followed a ground test late in March of a solid-fuel engine for a new type of intermediate-range hypersonic missile, was also condemned by Britain, which said it breached UN Security Council resolutions. — Reuters

Dusit Thani Manila named one of the Top 10 Hotels and Resorts in the Philippines in the 2024 DestinAsian Readers’ Choice Awards

Dusit Thani Manila has been recognized as one of the Top 10 Hotels and Resorts in the Philippines in the 2024 DestinAsian Readers’ Choice Awards. This prestigious accolade underscores the hotel’s unwavering commitment to excellence and unwavering dedication to guest satisfaction.

DestinAsian magazine, widely recognized as Southeast Asia’s foremost luxury travel publication, recently revealed the results of its highly anticipated 17th annual Readers’ Choice Awards (RCA 2024). Dusit Thani Manila secured a coveted spot in the Top 10 Hotels and Resorts category, reaffirming its position as a premier hospitality destination in the Philippines known for exceptional service and world-class amenities.

Stanley Lo, General Manager of Dusit Thani Manila, expressed his gratitude, stating, “We are deeply honored to be acknowledged among the top hotels and resorts in the Philippines by the discerning readers of DestinAsian. This prestigious accolade is a testament to our unwavering commitment to delivering unparalleled guest experiences.”

The complete list of winners from the RCA 2024 can be found in the March/May 2024 print edition of DestinAsian magazine and will soon be available online at DestinAsian.com.

 

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Philippines says it is committed to maintaining position at Second Thomas Shoal

AN AERIAL VIEW of the BRP Sierra Madre at the contested Second Thomas Shoal on March 9, 2023. — REUTERS

MANILA – The Philippines will continue resupply missions to soldiers stationed in a grounded warship off Second Thomas Shoal in the South China Sea and China’s attempts to foil them will be met with a response, a top security official said on Wednesday.

Jonathan Malaya, spokesperson of the National Security Council, said the Philippines remains committed to keep the BRP Sierra Madre which it deliberately grounded in 1999 to bolster its maritime claims to the disputed waters.

“Our commitment to maintain (BRP Sierra Madre) will always be there. Any attempt by China to interfere with resupply missions will be met by the Philippines in a fashion that protects our troops both doing resupply and those that are (on shoal),” Malaya told a maritime forum.

The disputed shoal in the South China Sea has been a flashpoint of recent maritime run-ins between Manila and Beijing, including the Chinese coast guard’s use of water cannons that have injured Filipino soldiers.

China claims almost the entire South China Sea, a conduit for more than $3 trillion in annual ship commerce. Its territorial claims overlap with waters claimed by the Philippines, Vietnam, Malaysia and Brunei.

In 2016, the Permanent Court of Arbitration in the Hague said China’s claims had no legal basis, a decision Beijing has rejected. — Reuters

Russian billionaires see collective wealth near $600B — Forbes

An employee holds 1000 Russian Rouble notes at Goznak printing factory in Moscow, Russia July 11, 2019. — REUTERS

LONDON — Russia’s richest people added $72 billion to their fortunes over the past year, taking their collective wealth to $577 billion, Forbes said on Tuesday, with Vagit Alekperov, former president of oil major Lukoil, taking Russia’s top spot.

In 2021, before Russia’s invasion of Ukraine, Forbes had estimated the total wealth of Russian billionaires at $606 billion. High commodity prices in the past two years and Russia’s war-focused economic growth stifling the impact of Western sanctions have aided a recovery towards that figure.

Many Russian billionaires fell under Western sanctions as the West sought to punish President Vladimir Putin and those deemed close to him for launching the war in Ukraine. Their total wealth dropped to $353 billion in 2022.

Alekperov’s fortune rose to $28.6 billion from $20.5 billion over the past year, Forbes said. He took first place in Russia from now seventh-placed Andrei Melnichenko, who made his fortune in fertilizers and whose worth fell to $21.1 billion from $25.2 billion.

Leonid Mikhelson, the head of Russian natural gas producer Novatek NVTK.MM, was listed in second place by Forbes, with his wealth increasing by $5.8 billion to $27.4 billion.

Forbes said there were now more billionaires worldwide than ever, with 2,781 in total and the top 20 accounting for most of the gains in wealth. Alekperov came in 59th place globally.

“They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023,” Forbes said.

Putin has repeatedly touted the failure of Western sanctions to destroy the Russian economy and played up the fact that Russia’s economy expanded faster last year – with GDP growth of 3.6% – than any of the Group of Seven nations largely responsible for sanctions.

Boasting vast natural resources, Russia’s economy rebounded sharply from a 2022 slump, but the growth relies heavily on state-funded arms and ammunition production for the war in Ukraine, masking problems that are hampering an improvement in Russians’ living standards.

This year, the International Monetary Fund (IMF) expects Russian GDP growth of 2.6%, but foresees tough times ahead for the economy due to outflows of people and shortages of technology.

Russian business people have in benefited from the Western corporate exodus, with scores of companies selling assets cheaply or having their Russian operations seized and local managers installed. — Reuters

MG gears up for huge, electrifying announcements at MIAS 2024

MG ONE

MG in the Philippines is set to shake up the local automotive scene with a huge, diverse, and innovative lineup of vehicles and announcements at this year’s Manila International Auto Show (MIAS) this coming April 4-7 at the SMX Convention Center in Pasay City.

Promising to deliver an exciting and can’t-miss glimpse of a next-level experience for Filipino motorists, the brand is preparing a major showcase of an array of new MG vehicles set to appear at the show, led by the recently launched MG ONE crossover SUV and the groundbreaking EV roadster MG Cyberster.

MG Cyberster

The Cyberster champions MG’s commitment to futuristic innovation and sustainability through the larger push for electric vehicles (EVs) — it’s the brand’s first-ever all-electric sports car, and the Philippines got its first taste of it back in March when it touched down with British adventurers the Turner Twins for the local leg of the Cyberster World Tour.

Rounding out MG’s futuristic entries at MIAS is the crossover SUV MG ONE, the first car to be built using MG’s SIGMA architecture platform.

Joining the Cyberster are MG’s other upcoming EV and ICE offerings that are entering the Philippines this week, as well as the brand’s familiar and reliable nameplates, which include the MG ZS crossover SUV and the MG5 subcompact sedan. 

“The innovation and cutting-edge technology that delivers the best possible performance to Filipino motorists that MG is bringing in its MIAS lineup is the real culmination of 100 years of the brand’s motoring excellence,” said Felix Jiang, MG Philippines president. “We at MG in the Philippines are truly excited to usher in the future to a country that’s ready for the next level of automobiles.”

Visit the MG booth and experience the brand’s grand lineup at the SMX Convention Center leg of MIAS 2024 from April 4-7, 2024.

To know more about MG’s full slate of vehicles, visit mgmotor.com.ph.

 

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Fed officials see three rate cuts ‘reasonable’ this year

REUTERS

A pair of Federal Reserve policymakers often considered to have divergent monetary policy leanings on Tuesday both said they think it would be “reasonable” to cut U.S. interest rates three times this year, even as stronger recent economic data has sown investor doubts about that outcome.

Cleveland Fed Bank President Loretta Mester and San Francisco Fed Bank President Mary Daly last month joined the U.S. central bank’s unanimous vote to leave short-term interest-rates in the 5.25%-5.5% range to keep putting downward pressure on inflation.

“At this point, the economy and policy are in a good place,” Daly said at an event in Las Vegas. “Inflation is coming down, but it’s slow, it’s bumpy and slow. The labor market is still going strong and growth is going strong. So there’s really no urgency to adjust the rate.”

Projections published at the Fed’s March meeting showed the typical policymaker expected to deliver three quarter-point interest rate cuts this year, though nearly half of officials – nine of the 19 – see two or less this year, according to forecasts issued last month.

“I think that is a very reasonable baseline,” said Daly, often pegged as dovish though a self-described policy centrist.

Still, Daly said, there is a “real risk” of cutting rates too soon and locking in the “toxic tax” of too-high inflation.

Mester, on the more hawkish end of the Fed’s policy spectrum, told reporters on Tuesday that three rate cuts for this year remain a “reasonable” forecast while deeming it a “close call.”

Though, like Daly, she acknowledged the risk of keeping rates high for too long and unnecessarily harming the labor market, “at this point, I think the bigger risk would be to begin reducing the funds rate too early,” Mester said at an event in Cleveland.

Inflation by the Fed’s targeted measure was 2.5% in February, far below its mid-2022 peak of around 7% but still above the 2% goal, with progress slower so far this year than for much of last year. Meanwhile the labor market has been strong, with unemployment at 3.9% in February.

Data this week showed manufacturing unexpectedly rebounding, with a rise in raw materials prices raising fears that inflation could resurge.

Investors are eager to hear how Fed Chair Jerome Powell, speaking at Stanford University on Wednesday, adds it all up. They are also focused on whether the next monthly read on the U.S. labor market, due on Friday, backs up other data suggesting the labor market is cooling, and if fresh inflation reads ahead of the Fed’s next two meetings, April 30-May 1 and June 11-12, show prices are as well.

Powell, speaking last Friday, said the stronger-than-expected inflation readings so far this year have not changed his overall view that inflation is headed downward and the Fed will cut rates later this year.

Financial markets are betting heavily against a May 1 rate cut. Mester on Tuesday said she does not think there will be enough information between now and then to justify it.

But that could change by June, Mester said.

“We have to be data dependent so I don’t want to rule that out,” Mester told reporters after her speech.

Interest-rate futures prices currently imply about a 65% chance of a rate hike by June, down from about 70% after the Fed’s March meeting. — Reuters

Biden, Xi call navigates Philippines and Taiwan tensions

REUTERS

WASHINGTON – U.S. President Joe Biden sought to manage tensions over the South China Sea and Taiwan’s May presidential inauguration in a call with Chinese President Xi Jinping on Tuesday, their first direct talks since meeting in November.

Biden used the call to emphasize “the importance of maintaining peace and stability across the Taiwan Strait and the rule of law and freedom of navigation in the South China Sea,” the White House said in a statement.

Xi said ties between the China and the U.S. are beginning to stabilize, but warned that they could “slide into conflict or confrontation,” according to China’s official Xinhua news agency.

White House national security spokesperson John Kirby told a briefing after the call that U.S. Secretary of State Antony Blinken would travel to China in the coming weeks. That follows a trip this week by Treasury Secretary Janet Yellen.

The nearly two-hour call between the leaders – described by Kirby as “business-like” – comes ahead of meetings next week between Biden, Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos as China flexes its military might.

On Monday, a senior U.S. administration official said the U.S. and Chinese militaries would hold maritime talks this week in Honolulu. Washington has expressed concern over China’s coast guard’s use of water cannons on Philippines vessels near Second Thomas Shoal in a disputed section of the South China Sea.

An escalating diplomatic row and recent maritime run-ins between the two Asian countries has made it a potential flashpoint between the U.S. and China.

Beijing claims vast portions of the South China Sea, sometimes in direct opposition to international law.

“China seems determined to continue to run these gray zone operations, driving the U.S.-Philippine alliance and Philippines-Japan security ties closer, which we’ll see on display next week,” said Gregory Poling, a South China Sea expert at the Center for Strategic and International Studies, referring to the trilateral summit in Washington.

‘CREATING RISKS’

Xi and Biden also discussed U.S. efforts to block certain U.S. technologies, including advanced semiconductors, from export to China.
Xi warned Biden that the U.S. is “not de-risking but creating risks” by suppressing China’s trade and technology development and adding new entities to U.S. sanctions lists.

Biden told Xi the U.S. “will continue to take necessary actions to prevent advanced U.S. technologies from being used to undermine our national security, without unduly limiting trade and investment,” according to the White House.

Kirby said Biden broached U.S. concerns about popular social media app TikTok, which faces proposed U.S. legislation that would force its Chinese-owner ByteDance to divest over data security and disinformation concerns.

“He made it clear to President Xi that this was not about a ban of the application, but rather our interest in divestiture so that the national security interests, and the data security of the American people can be protected,” Kirby said.

TAIWAN TEST

China’s response to Taiwan’s presidential inauguration in May will test the stability of relations between Beijing and Washington.

China regards Taiwan, a self-governed island with democratic elections, as part of its territory and recently dropped language about a “peaceful reunification” from its budget. Taiwan strongly objects to China’s sovereignty claims and says only the island’s people can decide their future.

Taiwan’s current Vice President Lai Ching-te, who Beijing views as a separatist, won the presidency in January and Beijing has increased pressure on Taiwan ahead of his swearing in.

Xi urged Washington to translate “Biden’s commitment of not supporting ‘Taiwan independence'” into concrete actions, Xinhua reported.
Biden and Xi agreed in November to reopen military communications and cooperate to curb fentanyl production. After that meeting, Biden told reporters he had not changed his view that Xi is a dictator, a comment that China called “extremely absurd.”

But the two have looked to smooth over a rocky period in relations that took a turn for the worse after a suspected Chinese surveillance balloon transited the U.S. and was shot down by a U.S. fighter jet last year.

Biden and Xi’s call also addressed U.S. concerns over China’s support for Russia’s war against Ukraine, its economic trade practices, human rights abuses in Xinjiang and the denuclearization of the Korean peninsula, the White House said. — Reuters

Taiwan hit by strongest quake in 25 years, buildings damaged

XANDREASWORK-UNSPLASH

TAIPEI – A 7.2 magnitude earthquake rocked Taiwan on Wednesday, the strongest tremor to hit the island in at least 25 years, shaking buildings from their foundations and sparking a tsunami warning for the islands of southern Japan and the Philippines.

Taiwan television stations showed footage of buildings at precarious angles in the sparsely populated eastern county of Hualien, near the quake’s epicenter.

Local media said some people were trapped, but there were no immediate reports of deaths or injuries.

The quake, which knocked out power in several parts of the capital Taipei, hit at 07:58 a.m. (2358 GMT) at a depth of 15.5km (9.6 miles) just off the eastern coast of Taiwan, according to Taiwan’s Central Weather Administration.

Japan’s weather agency said several small tsunami waves reached parts of the southern prefecture of Okinawa, and later downgraded the earlier tsunami warning to an advisory. It revised the magnitude to 7.7.

The Philippines Seismology Agency also issued a warning for residents in coastal areas of several provinces, urging them to evacuate to higher ground.

The quake was felt in Shanghai, a Reuters witness said. Chinese state media said it was also felt in Fuzhou, Xiamen, Quanzhou and Ningde in China’s Fujian province.

Aftershocks could still be felt in Taipei, according to a Reuters witness, with at least 25 aftershocks registered so far, according to Taiwan’s central weather administration.

China Earthquake Networks Center recorded five aftershocks of around 5 magnitude in Taiwan within an hour after the initial quake.

The Taipei city government has not received any reports of damage and the city’s MRT was up and running soon after, while electricity operator Taipower said more than 87,000 households in Taiwan were still without power.

Taiwan’s high speed rail operator said no damage or injuries were reported on its trains, but noted trains will be delayed while it carries out inspections.

Southern Taiwan Science Park, where semiconductor giant Taiwan Semiconductor Manufacturing Co has a plant, said companies were operating without impact.

TSMC said its safety systems are operating normally.

“To ensure the safety of personnel, some fabs were evacuated according to company procedure. We are currently confirming the details of the impact,” according to the company.

Shares of TSMC were down 1.4% in early trade, while Apple supplier Foxconn’s stock fell more than 2% and shares of flat panel maker Au Optronics dropped 1.7%.

Taiwan’s official central news agency said the quake was the biggest to hit the island since 1999 when a 7.6 magnitude tremor killed around 2,400 people and destroyed or damaged 50,000 buildings in one of Taiwan’s worst-recorded quakes.

Taiwan’s Central Weather Administration said the earthquake registered the second-highest intensity of an “Upper 6” in Hualien county, on the 1-7 intensity scale.

In an Upper 6 earthquake, most unreinforced concrete-block walls collapse and people find it impossible to remain standing or move without crawling, the Japan Meteorological Agency says. — Reuters

Franchise Asia Philippines is back this April

All is set for Franchise Asia Philippines Expo, Asia’s biggest franchise show and the country’s most awaited business opportunities event, on April 12 to 14 at the SMX Convention Center-Manila. Organized by the Philippine Franchise Association (PFA), this premier event promises to be a platform for entrepreneurs and investors seeking lucrative franchise opportunities and valuable business insights.

“Our show has always been in April,” explains PFA Chairman Chris Lim, “we just moved it to October the last 2 years because of our hosting of the meetings of the World Franchise Council (WFC) and the Asia-Pacific Franchise Confederation (APFC) last year.” Last year’s show was PFA’s biggest ever but this year’s show still promises to be a motherlode of franchise opportunities for Filipinos who want to start a business and achieve financial freedom.

With over 700 franchise brands and other business opportunities, Franchise Asia Philippines Expo 2024 offers visitors a one-stop shop of a variety of franchise investment packages and business solutions. From established brands to emerging concepts, expo visitors will have the chance to explore a diverse array of options across numerous sectors.

In addition to showcasing an extensive lineup of franchise brands and business solutions, the expo will also feature several seminars namely:

  • How to Invest in the Right Franchise — for aspiring franchisees who want to start a business via franchising
  • How to Franchise Your Business — for entrepreneurs who want to grow their business using the franchising business model
  • 5 Ways to Grow Profit by Action Coach
  • Unified Branding: Bridging Generations for Business Growth and Scale
  • And How to Expand your Franchise Globally

For more information about the seminars, please visit: https://www.franchiseasiaph.com/seminars.

This year’s theme, “Explore. Expand. Excel.” encapsulates the essence of franchising as a pathway to business growth and success. “Whether attendees are seasoned franchisees looking to expand their portfolio or aspiring entrepreneurs seeking their first venture,” says Expo Chair Robert Trota, “the said event offers unparalleled opportunities for exploration and advancement.”

“We are thrilled to present Franchise Asia Philippines Expo 2024, where entrepreneurs can discover new opportunities, expand their networks, and excel in the dynamic world of franchising,” PFA President Joseph Tanbuntiong remarks. “With a diverse range of franchise brands and informative seminars, this event is a must-attend for anyone looking to enter or thrive in the franchise industry.”

Entrance to the Expo is free for those who register online. https://register.franchiseasia.com.ph/register/expo/.

“Franchise Asia Philippines Expo 2024 promises to be an invaluable experience offering a platform for networking, learning, and growth,” Expo Co-Chair Joey Alvero declares. “Don’t miss this opportunity to explore the exciting world of franchising and take your business aspirations to new heights.”

Franchise Asia Philippines 2024 is Co-Presented by PLDT Enterprise and Powered by SM Supermalls & GCash.

The event is also supported by Platinum Partners 7-Eleven, Caltex, Concepcion Industries, Megaworld, Seaoil, The Generics Pharmacy, Jollibee; Gold Partners Francorp, Gateway Mall 2, Potato Corner, Robinsons Malls, Qualiplus, Globaltronics; Silver Partners K2 Pharmacy, LT & G Credit Line, BBK, Famous Belgian Waffles, Kurimi Milk Tea Bar, Living Water Station, Goldilocks, Master Siomai, Max’s, Purenectar, Grainsmart, Shawarma Shack, Pheonix Super LPG, Mitsubishi, Unionbank, Oryspa; and Bronze Partners Alipay, BPI, Coolaire, Fruitas, Macao Imperial Tea, Mister Donut, Shakey’s, Julie’s, Unioil, Yale Smart Shop, Mr. Quickie, Waltermart & Bench.

Event Partners: KFC, Hungry Pita, Generika, BO’S Coffee, Carrier, Condura, Midea, Otis, Chowking, Greenwich, Mang Inasal, Red Ribbon, UFranchise, Action Coach, TPB, BCS Heritage, Balay Baler, and Jimac

Media Partners: Net 25 Eagle Broadcasting Corp., BusinessWorld, Business Mirror, Mega Mobile (Inquirer Mobile), Asia Journal / Balikbayan Magazine, The Philippine Star, Philippine Daily Inquirer, Daily Tribune, and Media Blitz

For more information and registration details, visit https://www.franchiseasiaph.com/expo.

 

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