Business and Finance

Review of five Chinese steel products announced

Radio Taiwan International
Date: 2018-04-18

The economics minister, Shen Jong-chin, said Wednesday that the ministry will conduct a

Economics Minister Shen Jong-chin appears in this CNA photo taken Wednesday.

trade review of five Chinese steel products imported to Taiwan. The review will look for evidence of unfair subsidy and dumping practices and evaluate any harmful effects on local industry.

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The move comes in response to the US announcement of steep tariffs on steel and aluminum imports. Taiwan is seeking exemption from these tariffs. Shen said his ministry hopes Washington will take note of Taiwan’s response. He also said the European Union is conducting a review of 26 steel products and Taiwan is therefore in step with the international community on this issue.

The ministry will first seek to establish if China has engaged in unfair subsidies or dumping of steel products. If this is the case, it will evaluate what harm may have been done to Taiwan’s steel industry as a result. The ministry will pass its findings to the finance ministry to determine what further steps should be taken, if any.   [FULL  STORY]

Taiwanese businessmen chair ABAC panel meetings in Tokyo

The wrap-up reports following the meetings will be sent to APEC leaders 

Taiwan News 
Date: 2018/04/18
By: Sophia Yang, Taiwan News, Staff Writer

TAIPEI (Taiwan News) –  The APEC Business Advisory Council (ABAC) hosted its second meeting of the year in Tokyo, Japan, which runs from April 16-19, with Taiwanese businessmen elected by the members to chair different working group meetings.

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The meeting was attended by three Taiwanese business representatives including Chairman of I-Mei Foods Co. Henry Kao (高志尚), PChome Online Chairman Chan Hung-chih (詹宏志), and O-Bank Vice Chairperson Tina Lo (駱怡君).

Chan chaired a meeting of ABAC’s newly-established digital innovation working group, according to a Liberty Times report, and he also informed the members of the upcoming digital innovation forum to take place in Taiwan this coming July.    [FULL  STORY]

Qatar government bonds to be listed in Taiwan

Focus Taiwan
Date: 2018/04/18
By: Han Ting-ting and Kuan-lin Liu

Taipei, April 18 (CNA) Qatar government bonds will start trading over the counter on the

Image taken from Pixabay

Taipei Exchange (TPEx) on April 23, the exchange’s president said Wednesday.

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Speaking at a press conference, Su Yu-ching (蘇郁卿) said that for the first time, foreign government bonds will be listed in Taiwan, based on new trading regulations that took effect on April 3.

When the bell rings at 9 a.m. Monday, US$6 billion worth of Qatar government bonds will open for trading, Su said, adding that it will be the biggest issue of foreign bonds in Taiwan.

The bonds have been issued for a 30-year term at a fixed interest rate of 5.103 percent and were underwritten by the Taiwan branches of Standard Chartered PLC and Deutsche Bank, he said.    [FULL  STORY]

Ex-TSMC engineer indicted for theft

HSINCHU CASE: The man allegedly copied information to take with him to a new job in China. He was charged with contravening the Trade Secrets Act and breach of trust

Taipei Times
Date: Apr 19, 2018
By: Lisa Wang  /  Staff reporter

A former Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) employee was indicted yesterday for theft of trade secrets linked to the chipmaker’s 28-nanometer process technology, the Hsinchu District Prosecutors’ Office said.

The engineer, surnamed Wu (吳), copied the technological information in September last year with the aim of taking the data with him to China when he took up a new job at CSMC Technologies Corp (華潤上華) in December, the office said in a news release.

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“The engineer contravened the Trade Secrets Act (營業秘密法), as he intended to use and divulge the trade secrets he illegally copied in China,” the statement said.

Wu was also indicted for breach of trust, the office said.    [FULL  STORY]

NT dollar loses value four days in a row to hit three-month low

Formosa News
Date: 2018/04/17

In line with global market trends, the value of the NT dollar took a four-day slide ending Monday, hitting a three-month low yesterday against the greenback, after losing the value of 12% of an NT dollar in just one day. Though the NT rallied today, reaching 29.362, analysts say that its value is likely to keep falling.

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The Taiwan dollar’s multi-day tumble ended in a one day drop of 12% of a dollar yesterday, closing at 29.425 against the greenback. Though the slide was checked today by a rally that brought the NT back up to 29.362, looking at global trends analysts believe new lows are on the horizon.    [FULL  STORY]

Japan’s StarFlyer airline to come to Taiwan in October

Regular flights between Taoyuan and Fukuoka, Kitakyushu and Nagoya of Japan are scheduled to be operated

Taiwan News 
Date: 2018/04/17
By: Juvina Lai, Taiwan News, Staff Writer

TAIPEI (Taiwan News) —  Starflyer, a Japanese airline, announced Tuesday that starting

Image from Starflyer’s official website

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October of this year it will start operating regular direct flights between Taoyuan and three Japanese cities–Fukuoka, Kitakyushu, and Nagoya–with one flight each day. However, the official start date is yet to be announced by the company.

StarFlyer Inc. is a Japanese airline headquartered on the grounds of Kitakyushu Airport in Kitakyushu, Fukuoka Prefecture, Japan. The most attractive feature of their airplanes is that the body is characterized by black color with modern design and that its interior is quite spacious, local news reported.

The report also mentioned that the airline not only provides free meals, but also allows 20 kg of free checked baggage at a price similar to that of budget airlines. It also has LCD screens with sockets and USB ports for charging electronic devices as well as more spacious seating facility.     [FULL  STORY]

Taiwan business group signs MOU with Indonesia’s Islamic group

Focus Taiwan
Date: 2018/04/17
By: Justin Su and Elizabeth Hsu 

Taipei, April 17 (CNA) The Taiwan-ASEAN Business Council (TABC) and Nahdlatul Ulama (NU), the largest Islamic organization in Indonesia, signed a memorandum of understanding to promote cooperation in business investment Tuesday in Taipei.

Under the MOU, the two groups will deepen cooperation, promote investment in industries such as intelligent farming, intelligent cities, as well as the development of medical and financial technologies, said TABC Chairman Lu Jih-sheng (盧日勝).

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Speaking at the signing ceremony at the Legislative Yuan, Lu touted NU as influential in Indonesia with more than 91 million members and over 12,000 affiliated schools and 50 hospitals. The bilateral collaboration will help the two countries to deepen industrial cooperation, he said.    [FULL  STORY]

Chip supply constraints help boost Nanya’s profits

IN CONTROL: The top memory chipmakers are keeping capacity expansion tight to maintain supply demands and keep prices up, Nanya Technology president said

Taipei Times
Date: Apr 18, 2018
By: Lisa Wang  /  Staff reporter

DRAM chipmaker Nanya Technology Corp (南亞科技) yesterday said net profits last quarter more than doubled to NT$7.23 billion (US$246 million) from a year earlier as price hikes helped raise its gross margin to a record high amid unresolved supply constraints.

On a quarterly basis, net profits tumbled 67 percent without the gain of NT$16.12 billion from sales of Micron Technology Inc shares in the fourth quarter of last year.

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However, a strong NT dollar prevented the chipmaker’s bottom line from breaking a new record.

Maybank estimated that Nanya Technology would make profit totaling NT$7.9 billion last quarter.

Unfavorable foreign-exchange rates saw the company incur a loss of NT$1.18 billion last quarter.        [FULL  STORY]

Waterland sees income boost on trading success

WILD RIDE: The financial service provider said all of its subsidiaries posted profits last year, but this year sees challenges from global market volatility

Taipei Times
Date: Apr 17, 2018
By: Crystal Hsu  /  Staff reporter

Waterland Financial Holdings Co (國票金控) posted NT$659 million (US$22.4 million) in net income for last quarter, a 10.07 percent increase from the same period last year aided by improved stock brokerage and trading business, executives said yesterday.

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While economic fundamentals remain healthy at home and abroad, Waterland Financial said that continued volatility across global bourses and bond markets might pose a challenge to its profitability this year.

“All subsidiaries generated profits last year, but wild volatility across global stock and bond markets are driving up hedging costs and challenging profitability this year,” executive vice president Andrew Chiu (邱銘恩) told an investors’ conference in Taipei.
[FULL  STORY]

Chunghwa Post reveals Taiwan’s first ‘Digital Post Office’ with ‘smart’ assistant

The Jinnan rd. post office in Taipei has a ’24-hour self-service station’ where customers to manage their finances online, among other services

Taiwan News 
Date: 2018/04/16 
By: Duncan DeAeth, Taiwan News, Staff Writer

TAIPEI (Taiwan News)—Taiwan’s very first digital post office was formally launched at the

The smart assistant “Pepper” at the Chunghwa digital post office in Taipei (By Central News Agency)

Jinnan Road Post Office in central Taipei (台北金南郵局), April 16.

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The new digital post station allows citizens to manage their post office banking, as well as prepare their parcels for shipping, with digital registration. They can also access email and purchase stamps, boxes and other goods on sale at the post office.

The digital post station is the first of its kind offered by Chunghwa Post, the government owned postal service of Taiwan. CNA reports that Chunghwa is keeping up with the times, as Taiwan continues to develop its digital communication infrastructure, and as Taipei begins its drive to become a “smart-city.”

The office on Jinnan road will offer a 24-hour self-service area that includes an ATM and a computer system to register mail. Additionally, a smart robot assistant is also onsite to help customers navigate the menu of services available.    [FULL  STORY]