Business and Finance

Taipei Dept. of Environmental Protection proposes collecting tax on aviation fuel 

Songshan Airport responsible for 60% Taipei’s air pollution, taxes suggested

Taiwan News 
Date: 2017/12/11
By: Renée Salmonsen, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — The Taipei City Government Department of Environmental

Airplane fuel contains large amounts of hazardous sulfur dioxide. (Photo: Unsplash)

Protection (DEP) announced Monday Dec. 11 that sulfur dioxide emissions from the Songshan Airport have decreased by 42 percent compared to last year.

The department has now proposed a tax on aviation fuel to encourage a continued reduction in emissions, reported CNA.

The Songshan Airport alone is responsible for 60 percent of Taipei City’s air pollution.

In 2015 there was 900ppm of sulfur dioxide in aviation fuel at Songshan Airport and this year levels fell to 520ppm, a decrease of 42 percent.     [FULL  STORY]

Central bank denies foreign exchange intervention report

Focus Taiwan
Date: 2017/12/11
By: Chiu Po-sheng and Frances Huang 

Taipei, Dec. 11 (CNA) Taiwan’s central bank on Monday rejected a Bloomberg report that accused the bank of engaging in foreign exchange manipulation to keep the Taiwan dollar cheaper than other regional currencies.

Yang Chin-long (楊金龍), deputy governor of Taiwan’s central bank, said the value of the Taiwan dollar is determined by a market mechanism, and he denied that the bank has stepped up intervention to manipulate the currency’s value.

Speaking at a news conference, Yang said the central bank only steps in to maintain market order and stabilize financial markets when there is abnormal volatility due to large inflows or outflows of funds..    [FULL  STORY]

Pegatron sees 27% monthly revenue dip

SEASONAL EFFECT: Although the loss represents a year-on-year contraction of 3.19 percent, a Pegatron official said the decline fits company estimates and historic patterns

Taipei Times
Date: Dec 12, 2017
By: Lauly Li  /  Staff reporter

Pegatron Corp (和碩), which assembles Apple Inc’s iPhone models, yesterday reported a nearly 27 percent monthly fall in revenue to NT$121.83 billion (US$4.06 billion) last month from the previous month’s NT$166.47 billion, as the peak season waned and smartphone shipments declined.

On an annual basis, the NT$121.83 billion represented a 3.19 percent contraction from last year’s NT$125.84 billion, a company filing with the Taiwan Stock Exchange showed.

“The monthly decline was due to the seasonal effect, which is in line with Pegatron’s estimate and matches the company’s historic pattern,” a Pegatron investor relations official said by telephone.

The official said Pegatron remained optimistic that overall performance this quarter would outpace last quarter’s results on rising demand for communications products and notebook computers.    [FULL  STORY]

Formosa Petrochemical to cut fuel prices next week

Focus Taiwan
Date: 2017/12/09
By: Tien Yu-pin and Frances Huang 

Taipei, Dec. 9 (CNA) Formosa Petrochemical Corp., a private fuel supplier, said Saturday that it will lower its domestic gasoline and diesel prices next week in the wake of a decline in international crude oil prices this week.

In a statement, Formosa Petrochemical said international crude prices have dropped amid renewed concerns over a global supply glut after a rise in crude output and an increase in gasoline inventories in the U.S. market.

As a result, the fuel supplier said, it will cut its gasoline prices by NT$0.1 (US$0.0033) per liter and its diesel prices by NT$0.2 per liter, effective from 1 a.m. on Monday.

This week, Formosa Petrochemical raised its diesel prices by NT$0.1 per liter but left its gasoline prices unchanged.    [FULL  STORY]

FSC inks MOUs with nine countries

Radio Taiwan International
Date: 2017-12-08

The Financial Supervisory Commission (FSC) has signed 14 MOUs or memoranda of understanding with nine countries.

Those countries are all targets of the government’s New Southbound policy. They include Thailand, Singapore, Malaysia, Vietnam, Indonesia, India, New Zealand, the Philippines and Australia.

The government introduced the policy last year to forge closer economic and cultural ties with New Zealand, Australia, India and ASEAN member countries.

On Friday, the FSC said it had signed another MOU on insurance with its Philippine counterpart at the 23rd Ministerial Joint Economic Cooperation Meeting in Manila. The two sides already have another MOU on banking, which was signed back in 2007.
[FULL  STORY]

New Taiwanese startup incubator hoping to reduce high failure rate

Focus Taiwan
Date: 2017/12/08
By: Su Mu-chun and William Yen

Taipei, Dec. 8 (CNA) Taiwan Incubator (TI), which is jointly established by startup

Image of Taiwan Incubator’s official homepage (https://incubator.tw/)

organizations and local universities, is aiming to help startup companies survive and reduce their rate of failure, which currently stands at 99%, said its chief at a launching ceremony Friday.

Speaking at the event in Taichung City’s Central Taiwan Science Park, TI chief “Jack” Lin Ying-chieh (林英杰) said that despite the number of Taiwanese entrepreneurs increasing every year, the success or survival rate of local startup companies is very low.

Citing statistics from the Ministry of Economic Affair’s Small and Medium Enterprise Administration, Lin said the death rate of a Taiwan-based startup in the first five years is 99 percent.

Common problems startups face are lack of funding, insufficient support, government red tape, as well as general skepticism about them.    [FULL  STORY]

Ex-Nanya worker charged over secrets

COVETOUS CONTENDER: Chinese semiconductor firms have been poaching Taiwanese engineers in hopes of speeding up the country’s transition to a major player

Taipei Times
Date: Dec 09, 2017
By: Lisa Wang  /  Staff reporter

Prosecutors yesterday charged a former Nanya Technology Corp (南亞科技) employee

Nanya Technology Corp’s logo is displayed in front of the company’s headquarters in New Taipei City yesterday.  Photo: Hung Yu-fang, Taipei Times

with theft related to 20-nanometer manufacturing know-how from the chipmaker, which the suspect allegedly attempted to transfer to a Chinese company.

it is the latest in a slew of corporate espionage cases uncovered by local companies in the memorychip industry, after five former employees of Inotera Memories Inc (華亞科技) were in September indicted for allegedly passing confidential information to a Chinese semiconductor firm.

The engineer, identified only as Lee, 46, was accused of stealing Nanya’s 20-nanometer technology in December last year while taking online courses provided by the company, the Taoyuan District Prosecutors’ Office said in a statement.

Lee, a former senior engineer at Nanya, memorized the manufacturing know-how from screenshots of the process technology and used it for a job interview with Xian UniIC Semiconductors Co Ltd (西安紫光國芯) in Shaanxi Province in January.   [FULL  STORY]

AI, IoT to greatly benefit Taiwan ICT sector, says TCA chair

Digi Times
Date: Thursday 7 December 2017
By: Sammi Huang, Taipei; Willis Ke, DIGITIMES 

Taiwan information and communication technology (ICT) industry has no reason to show

TCA chairman Tung Tzu-hsien.
Photo: Shihmin Fu, Digitimes, December 2017

pessimism about its future prospect, as such new tech applications as AI (artificial intelligence), IoT (Internet of Things), and smart cities will be extended to all the industrial and commercial fields in the near future and generate tremendous business opportunities, according to Tung Tzu-hsien, chairman of Taipei Computer Association (TCA).

Tung told Digitimes in an interview held after opening of the IT Month on December 6 at Exhibition Hall 1, Taipei World Trade Center that with robust industrial chains, Taiwan’s ICT sector will play an important role in the new tech applications and stand to benefit from the ensuing huge business opportunities.

Tung said unlike the winners-take-all scenario seen in the mobile devices sector, the IoT sector will see business opportunities more open to interested players and the entire IoT supply chain is likely to experience a major reshuffle in the next 5-10 years.
[FULL  STORY]

Taiwan’s taxation regime earns plaudits from EU

Taiwan News  
Date: 2017/12/07
By: Taiwan Today,Agencies

The government is committed to promoting fair and transparent taxation, and will continue working with its international partners to tackle evasion, fraud and money laundering around the world, the Ministry of Finance said Dec. 6 after Taiwan was not featured on the List of Non-cooperative Jurisdictions for Tax Purposes released the day before by the Council of the European Union.

Taiwan was among 92 countries and territories included in a review launched by the EU Code of Conduct Group in January this year aimed at fostering cooperation on fair taxation, taxation transparency and the implementation of measures to tackle base erosion and profit shifting (BEPS).

According to the MOF, upon receiving a request from the EU to participate in the study, the Cabinet instructed relevant agencies to fully comply by providing detailed information on the nation’s taxation regime. In its response in October, the EU commended the country’s measures in tackling avoidance and enhancing information transparency, the ministry said.    [FULL  STORY]

Air France-KLM eyes greater synergies in Taiwan market

Focus Taiwan
Date: 2017/12/07
By: Lee Hsin-Yin

Taipei, Dec. 7 (CNA) Senior officials from Air France-KLM Group said Thursday that the

Johnson Wan (溫爾功, left) and Bas Gerressen

reopening of the Taipei-Paris route by its subsidiary Air France next April is expected to create new synergies between its Air France and KLM divisions.

Passengers who plan to visit Europe could make good use of flight combinations including both airlines, with the hubs of Amsterdam Airport Schiphol and Paris-Charles de Gaulle Airport offering easy transit options, said Bas Gerressen, the group’s general manager for Greater China.

The fact the Taipei-Paris non-stop flights will take off early afternoon in Taipei and arrive in Paris on the same day could also provide greater flexibility for Paris-bound KLM passengers, who currently have to make transits in Amsterdam, said Gerressen.

After a hiatus of 20 years, Air France will operate three weekly flights between Taiwan Taoyuan International Airport and Paris Charles de Gaulle Airport starting on April 16, 2018.    [FULL  STORY]