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CNA
27 minutes ago
- CNA
Taiwan plans AI projects to boost economy by $510 billion
TAIPEI :Taiwan plans to launch its "Ten Major AI Infrastructure Projects" initiative, aimed at generating more than T$15 trillion ($510 billion) in economic value by 2040 as it strives to become a global leader in artificial intelligence. Premier Cho Jung-tai said in a Facebook post late on Tuesday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a "smart technology island." Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics. Silicon photonics is a technology that Taiwan's TSMC, the world's largest contract chipmaker, and many other firms in the industry are actively developing. The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs. Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains. Industry groups, including one led by Foxconn Chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance on Tuesday to support the local development of AI robotics and related ecosystems. Taiwan also plans to establish a quantum technology industry chain. The 10 projects also include the development of sovereign AI - ability to build and control domestic AI technologies - and computing infrastructure, efforts to balance AI development across different regions of the island, and the introduction of AI across a wide range of industries. The government also calls for expanding investment in AI innovation, with more than T$100 billion ($3.08 billion) in venture capital funding, as it seeks to become a global hub for AI talent and investment. The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories.
CNA
27 minutes ago
- CNA
HDB launches 10,200 new flats for sale, with 4 Prime projects
SINGAPORE: The Housing and Development Board (HDB) launched 10,209 flats for sale in July's Build-to-Order (BTO) sales exercise, it said on Wednesday (Jul 23). This includes 5,547 BTO flats and 4,662 Sale of Balance (SBF) flats, it said in a press release. Seven out of 10 BTO flats up for sale have waiting times of four years or lower, including 1,396 units with less than three years' waiting time at Clementi Emerald and Bangkit Breeze. Sembawang Beacon, the first BTO project in the new Sembawang North neighbourhood, will comprise 775 units and has a wait time of three years. HDB noted that flat buyers looking to move into their homes sooner can consider applying in the SBF exercise, where 1,733 - or more than a third of SBF flats - have been completed. BTO FLATS, SUBSIDY CLAWBACK There are four standard and four prime BTO projects offered in the latest sales exercise, comprising flats ranging from two-room flexi to 3Gen flats. The standard projects on offer are in Bukit Panjang, Sembawang, Tampines and Woodlands, while the prime projects include two in Bukit Merah and one each in Clementi and Toa Payoh. "To ensure affordability, all new flats are priced with significant market discounts," HDB said. On top of the market discounts, Prime flats - which command higher market values due to their more favourable locational attributes - get additional subsidies to ensure affordability and accessibility. The selling prices for these new flats are substantially lower than the transacted prices of comparable resale flats, said HDB. Correspondingly, one of the additional restrictions that come with Prime flats is the subsidy clawback upon resale, which is derived as a percentage of the flat's resale or valuation price, whichever is higher. Alexandra Peaks, Alexandra Vista and Toa Payoh Ascent will have subsidy clawback rates of 11 per cent, while Clementi Emerald will have a 12 per cent subsidy recovery rate. "They are commensurate with the extent of the additional subsidies provided for the respective projects," HDB said. Eligible first-timer families stand to benefit from the enhanced CPF housing grant of up to S$120,000 (US$94,000). With the grant, homebuyers can purchase a 3-room standard flat starting from S$162,000 or a 4-room standard flat starting from S$248,000, said the Housing Board. CHANGES FROM JULY HDB also outlined some changes that will take effect from the current sales exercise, including improvements to the Family Care Scheme, which will provide priority access to parents and their children, when applying for a new flat to live with or near each other. First announced in March, the allocation quota for three-room and larger BTO flats for second-timer families has also been raised by 5 percentage points. The deferred income assessment rules have been expanded, such that only one party in a couple needs to be a recent or current full-time student or National Serviceman. Previously, both parties needed to meet the requirement. The Fresh Start Housing Grant, provided to support second-timer public rental families to buy a new standard two-room Flexi or standard three-room flat on a shorter lease, was also enhanced to S$75,000 from S$50,000. SBF FLATS The 4,662 SBF flats offered in the current exercise are more than the 3,000 units HDB previously committed to, it noted. Together with the 5,590 such flats offered in February, the total SBF supply this year has exceeded 10,200 flats. This is the largest annual supply of SBF flats since 2016, HDB said. Like BTO flats, SBF flats are subsidised and priced lower than comparable resale flats. Eligible first-timer singles can apply for any of the two-room flexi SBF flats across the island in this sales exercise, HDB said.
CNA
27 minutes ago
- CNA
Malaysia PM Anwar announces US$24 cash handout for all adults to head off rising costs
KUALA LUMPUR: Malaysia's Prime Minister Anwar Ibrahim on Wednesday (Jul 23) announced new measures to address growing public disquiet about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices. The announcement came ahead of a planned protest to be held in Malaysia's capital Kuala Lumpur on Saturday, calling for Anwar to step down over escalating prices and a failure to deliver on promised reforms, among other concerns. Anwar's administration has carried out a number of measures to boost revenue and productivity this year, including a minimum wage hike, increased electricity tariffs on heavy power users, and new sales taxes on some imported fruits and luxury goods. Anwar has said the moves were mainly targeted at large businesses and the wealthy, but critics have voiced fears that higher costs would eventually be passed down to consumers, including lower and middle income earners. On Wednesday, Anwar said all adult Malaysians above 18 years old will receive a RM100 (US$24) one-off cash aid to be disbursed from Aug 31. The government will spend a total RM15 billion in cash aid in 2025, up from RM13 billion originally allocated for the year, he said. Police have said they expect between 10,000 and 15,000 people to attend the Saturday protest, which has been organised by opposition parties. "I acknowledge the complaints and accept that the cost of living remains a challenge that must be addressed, even though we have announced various measures thus far," Anwar said. He added that further initiatives to aid those in poverty will be launched on Thursday. Anwar said the government will also announce details on a long-awaited plan to remove blanket subsidies on the widely used RON95 transport fuel before the end of September. Once the subsidy changes are implemented, Malaysians will see fuel prices at the pump drop to RM1.99 per litre, compared to the current price of RM2.50, Anwar said. Foreign nationals, however, will have to pay unsubsidised market prices for the fuel, he added. Anwar previously said in his Budget 2025 speech last year that RON95 subsidies will be cut for Malaysia's top 15 per cent income group. It is not clear whether this remains part of the rationalisation plan. Some middle-class Malaysians had expressed concerns that they could fall into this group - which a 2022 income survey defined as households with a combined monthly income of at least RM13,500 - despite already struggling with rising expenses. Anwar on Wednesday also announced additional allocations for a government programme aimed at increasing access to affordable goods and necessities, and vowed to improve other existing aid measures. Malaysia has seen inflation fall this year, but worries persist over increasing prices of basic necessities like food. Data released this week showed consumer prices rising 1.1 per cent from a year earlier last month, but the costs of food and beverages were up at a faster pace of 2.1 per cent.
