Business and Finance

Chinese drone king turns to farming

‘ENTERPRISE’ DRONES:A drone carrying a payload of 15kg can spray the same area covered by 30 workers and do a more efficient job, the manager of a small firm said

Taipei Times
Date: Jun 26, 2017
By: AFP, SHENZHEN, China

Chinese drone maker Da-Jiang Innovations Technology Co (DJI, 大疆創新科技) is betting on flying machines that shoot pesticide instead of photographs to fend off growing competition in the global remote-controlled aircraft market.

The world leader in the civilian drones sector is switching its focus from leisure photography to more professional uses for its uncrewed aerial vehicles and it sees agriculture as the future for the burgeoning industry.

DJI’s campus lies within a high-tech park in Shenzhen, where visitors are treated to a showroom featuring an array of drones.

Half the space of the showroom is dedicated to the recreational machines like the Phantom series, while the other half shows off the “enterprise” drones for agriculture, public safety, professional photography or film-making.    [FULL  STORY]

I-Mei blends arts and crafts and gourmet foods in its new operation in Taiwan’s Yilan

The artisan shop, located in the northern area of the Park, carries many wood and bamboo products from local artisans, while also offering visitors a space to relax with a cup of coffee and enjoy the natural and healing environment.

Taiwan News
Date: 2017/06/25
By: Wendy Lee , Taiwan News, Staff Writer

TAIPEI (Taiwan News) – I-Mei Gourmet Supplier Co. (義美吉盛), a subsidiary of I-Mei Foods Co. (義美食

Minister of Agriculture Lin Tsong-Hsien (left) and I-Mei Gourmet Supplier Co. Chairman Luis Ko (right). (By Taiwan News)

品), announced Saturday its operation in Yilan Luodong Forestry Culture Park (羅東林業文化園區).

Named “Sen Yi Hall” (森藝館, literally means forest and crafts), the store features displays of locally made wood crafts and sells a variety of quality crafts, to promote Yilan County’s local forest industry and leisure and recreation industry.

The site, established during the Japanese colonial period, was originally used to house staff at the former forestry center as well as for log storage. The restoration and rebuilding of the old houses was part of the Yilan government’s effort to boost the development of the county’s cultural and creative industry.

Attending the opening ceremony of the Sen Yi Hall, I-Mei Gourmet Supplier Co. Chairman Luis Ko (高志明) said today in his speech that Yilan is such a beautiful place to visit, the company is here to share its business experience with local industry, and has devoted much of its attention to increase the cultural visibility of Yilan.    [FULL  STORY]

Taiwan could be further isolated if Japan, EU sign FTA, expert warns

Focus Taiwan
Date: 2017/06/25
By: Yang Shu-min and S.C. Chang

Taipei, June 25 (CNA) An industry leader expressed worry on Sunday that Taiwan could be further

File photo

isolated and more of its businesses forced to move overseas if a reported free trade agreement (FTA) between Japan and Europe becomes a reality.

Tsai Lien-sheng (蔡練生), secretary general of the Taipei-based Chinese National Federation of Industries (CNFI), said there is little chance that Japan would help Taiwan integrate into the global trading system after it signs an FTA with Europe, as reported by the New York Times (NYT) and local media.

A United Evening News report cited the NYT as reporting that such an agreement, in part aimed at countering rising protectionism in the United States led by President Donald Trump, could be inked within the coming week at the earliest.

As Taiwanese products often have to compete with their Japanese counterparts globally, some local academics see the upcoming Japan-EU FTA as likely to have an adverse impact on Taiwan.
[FULL  STORY]

TAIEX could see light drop as shares go ex-dividendTAIEX could see light drop as shares go ex-dividend

DOMINANT PLAYER:Of the 10 stocks to go ex-dividend today, TSMC is the biggest player and analysts gave its shares a positive outlook in light of its market dominance

Taipei Times
Date: Jun 26, 2017
By: Staff writer, with CNA

Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is scheduled to go ex-dividend today, with the reference for its opening share price dropping by NT$7, or the equivalent of its dividend per share on last year’s earnings.

Some investors are likely to wait for TSMC’s share price to bounce back, while others might pocket their gains, market analysts said.

On Friday, shares of TSMC, the most heavily weighted stock in the local equity market, closed down 0.46 percent at NT$217 amid profit-taking by investors. In the past six trading sessions, TSMC shares rose NT$9, or 4.32 percent, on buying by local proprietary brokerages that were betting on the price rising after the ex-dividend date.

TSMC is the supplier of A11 chips for Apple Inc’s new iPhones that are expected to be launched in September.    [FULL  STORY]

Foxconn announces $10 billion ‘Flying Eagle Plan’ to move plants to US

Apple products made on American soil?

Taiwan News
Date: 2017/06/23
By: Renée Salmonsen, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — Foxconn Technology Group chairman and CEO, Terry Gou (郭台銘),

Foxconn plans to open factories in U.S. (By Wikimedia Commons)

announced yesterday at the annual shareholder’s meeting plans to spend over US$10 billion on American expansion projects come August.

The American investment scheme, dubbed the “Flying Eagle Plan” (飛鷹計畫), will potentially move Foxconn’s display production plants to the U.S.

Factories and offices will be constructed in a minimum of three states. Seven potential states have been named so far: Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas, and Wisconsin. Foxconn representatives are still working on deals with the White House, state governors, and other officials, including Gou’s previous two meetings with President Trump.    [FULL  STORY]

Taiwan 2017 GDP growth may top 2% but strength could weaken in Q3

Focus Taiwan
Date: 2017/06/24
By: Tien Yu-pin and Frances Huang

Taipei, June 24 (CNA) Taiwan’s gross domestic product (GDP) for 2017 is expected to grow more than 2 percent on the back of a global economic recovery, but may slow down in the third quarter of the year, according to Cathay Financial Holding Co. (國泰金).

Cathay Financial, one of the leading financial holding firms in Taiwan, said in a research paper that it was retaining its forecast of 2.1 percent economic growth in 2017.

Several other financial institutions and economic think tanks have also forecast that Taiwan’s GDP growth will top 2 percent in 2017, compared with a 1.52 percent increase in 2016.

The government, meanwhile, has upgraded its 2017 GDP growth forecast to 2.05 percent from 1.92 percent.    [FULL  STORY]

Far EasTone seeks boost to revenue

VALUE-ADDED SERVICES:Company president Yvonne Li said that subscribers to services such as its mobile wallet and videos are expected to reach 20 million by 2020

Taipei Times
Date: Jun 24, 2017
By Lisa Wang / Staff reporter

Far EasTone Telecommunications Co Ltd (遠傳電信) aims to more than triple revenue contributions from

Douglas Hsu, chairman of Far Eastern Group, to which Far EasTone Telecommunications belongs, speaks at a shareholders’ meeting in Taipei yesterday. Photo: CNA

its value-added services to 20 percent within three years on fast-growing demand for its online payment services and mobile video subscriptions.

Value-added services accounted for 6 percent of Far EasTone’s overall revenue in the first half as it has accumulated 9.4 million customers for the services, the nation’s No. 3 telecom said.

“We hope to increase that to 20 percent in 2020,” Far EasTone president Yvonne Li (李彬) told reporters on the sidelines of its annual general meeting yesterday.

By that time, the number of subscribers to value-added services is expected to reach 20 million, Li said.    [FULL  STORY]

Unemployment falls to two-year low in May

Radio Taiwan International
Date: 2017-06-22

Taiwan’s unemployment rate continued a steady decline in May and fell to a two-year low. That’s according to the latest government figures.

May’s jobless rate was 3.66%, a slight dip from the previous month and a 0.18% drop year-on-year. The average unemployment rate for the first five months of the year has also dropped compared to 2016.

May saw a total of 11.3 million people employed, 6,000 more than April and 84,000 more than May 2016. The government statistics office remains conservative on the nation’s economic recovery, however. It says growth has not reached the same level as 2015.    [FULL  STORY]

Foxconn chief slams Toshiba deal as “high-tech scam”

Gou wants to build Toshiba factory in U.S.

Taiwan News
Date: 2017/06/22
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Foxconn Technology Chairman Terry Gou (郭台銘) slammed Toshiba’s decision

Hon Hai chairman Terry Gou rips up Toshiba news report. (By Central News Agency)

not to sell its chip unit to the Taiwanese company as a “high-tech scam” and publicly ripped up a newspaper reporting on the deal.

Foxconn, better known in Taiwan as Hon Hai Precision Industry Co., Ltd. (鴻海精密工業), was one of several bidders for the Japanese chipmaker, but on Wednesday, Toshiba named an alliance between Bain Capital of the United States, Innovation Network Corporation of Japan (INCJ) and Development Bank of Japan (DBJ) as its preferred bidder.

Addressing a regular shareholder meeting at his company headquarters in New Taipei City Thursday, Gou first said the die had not yet been cast and changes were still possible.

He later derided Toshiba’s decision as a “high-tech scam” and blamed Japanese government bureaucrats for pushing the Toshiba Memory unit toward an uncertain future. They were taking revenge because he had not followed their advice during his takeover of Sharp Corporation last year, Gou said.
[FULL  STORY]

Think tank raises Taiwan GDP growth forecast for 2017 to over 2%

Focus Taiwan
Date: 2017/06/22
By: Tsai Yi-chu and Frances Huang

Taipei, June 22 (CNA) The Taiwan Research Institute said on Thursday it has raised its forecast for gross domestic product (GDP) growth in Taiwan for 2017 to more than 2 percent, at a time of rising global demand.

The institute, one of the leading think tanks in Taiwan, upgraded its GDP growth forecast from 1.74 percent to 2.01 percent. The institute joined a growing list of think tanks to hike their GDP predictions to more than 2 percent.

On the back of a global economic recovery, Taiwan’s commercial sales, which are comprised of wholesale, retail and restaurant/food/beverage industries, started to make a comeback in the second half of last year, while momentum also picked up in industrial production in the second half of last year on the back of growing exports, the institute said.    [FULL  STORY]