Business and Finance

CPI increases at fastest pace in 11 months

Taipei Times
Date: Feb 09, 2017
By Crystal Hsu / Staff reporter

The consumer price index (CPI) last month rose 2.25 percent year-on-year, its fastest rise in 11 months, as service providers raised charges over the Lunar New Year holiday and fuel cost hikes neared 30 percent, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

The inflationary gauge might stabilize slightly this month as holiday disruptions decrease, while an increase in energy costs is expected to linger due to a low base of comparison for the whole of last year, the statistics agency said.

“Babysitters, hairdressers, taxi drivers and retail service providers raised charges steeply over the Lunar New Year holiday in keeping with tradition,” DGBAS Deputy Director Tsai Yu-tai (蔡鈺泰) said at a news conference.

Together, miscellaneous expenses lifted CPI by 0.44 percentage points, while entertainment and educational costs contributed 0.3 percentage points, Tsai said.
[FULL  STORY]

HK firm in talks to purchase ‘Our Times’ maker

The China Post
Date: February 9, 2017
By: The China Post news staff

TAIPEI, Taiwan — Hong Kong listed media holdings company HMV Digital China Group

HMW Digital China Group Chairman Shiu Stephen Junior (Facebook)

has announced that it has signed a letter of intent to purchase all shares of a Taiwan-based media firm.

In the announcement, HMV Digital China Group did not identify the Taiwanese firm but indicated that it was an entertainment company focusing on investment and movie production. It added that the company was a major investor in the 2015 hit romantic comedy “Our Times”(我的少女時代) and owned the franchising rights to the movie.

The Hong Kong company did not reveal the possible value of the purchase.

HMV Digital China Group Chairman Shiu Stephen Junior (蕭定一) said in the announcement that the purchase was in line with the expansion of the company and would help HMV Digital China Group to further establish its position in movie production and distribution in the Asia-Pacific region.    [FULL  STORY]

Tsai oversees opening of Smart Machinery Promotion Office

Radio Taiwan International
Date: 2017-02-07

The term comes from the German government’s widely imitated policy of introducing

President Tsai Ing-wen (front right) – CNA photo

computer technology to manufacturing, including the Internet of Things and cloud computing.

The president said the first mission of the office will be to build on cooperation between industry and academia to raise new networks of professional talent. She said she hopes students will be introduced earlier to cutting edge smart manufacturing technology and the latest market trends. Another point will be to enable people already in the workforce chances to go back to study and update their expertise.

Tsai said the office’s second mission will be to bring together the resources of government, research institutions and corporations. She said she hoped this would speed up the process of manufacturing innovation.    [FULL  STORY]

Uber drivers plan to protest end of operations on Friday

Drivers dissatisfied with company and government’s decisions

Taiwan News
Date: 2017/02/07
By: Matthew Lubin, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — Following the company’s announcement that it would cease

By Central News Agency

operations in Taiwan on Feb. 10, Uber drivers have announced that they will hold a protest the same day to allow for a resumption of services, UDN reported.

The protest is scheduled for Friday from 10 a.m. to 2 p.m. at the Ministry of Transportation and Communications (MOTC) on Renai Rd. At that time the drivers plan to hand over a petition to MOTC Minister Ho-Chen Tan (賀陳旦) to allow Uber to continue operations in Taiwan.

The protestors plan to meet at 8 a.m. at the corner of Hangzhou South Rd. and Aiguo East Rd. to identify drivers participating and to place protest signs on the cars.
[FULL  STORY]

Hon Hai seeks stake in Toshiba semiconductor business: report

Focus Taiwan
Date: 2017/02/07
By: Yang Ming-chu, Jalen Chung and Frances Huang

Taipei, Feb. 7 (CNA) Taiwan-based electronics manufacturing giant Hon Hai Precision Industry Co. (鴻海) is one of several bidders seeking to acquire a stake in Toshiba Corp’s semiconductor operations, the Asahi Shimbun reported on Tuesday.

The report said that Hon Hai, known as Foxconn outside Taiwan, participated in an auction for a minority stake in the company’s semiconductor business held by Toshiba on Feb. 3.

In addition to Hon Hai, other participants in the auction included U.S-based Western Digital and U.S. and European investment funds, the Asahi Shimbun said. The Wall Street Journal reported on its Chinese language website that the bidders also included South Korean memory chip maker SK Hynix Inc.    [FULL  STORY]

Strong demand boosts exports

ELECTRIC ECONOMY:Electronics shipments, which account for 32.7 percent of overall exports, rose by a double-digit percentage to US$7.77 billion, a new high for January

Taipei Times
Date: Feb 08, 2017
By: Crystal Hsu / Staff reporter

The nation’s exports grew 7 percent year-on-year to US$23.74 billion last month, thanks to strong demand for electronic components used in mobile and Internet-of-Things devices, the Ministry of Finance said yesterday.

The figure represented the fourth consecutive month of expansion as the global economy improved, more than offsetting shipment disruptions caused by the Lunar New Year holiday, the ministry said.

“Growth momentum may pick up further this month and beyond, as holiday disruptions fade away and upgrade demand gains momentum,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.

Electronics shipments, which account for 32.7 percent of overall exports, rose by a double-digit percentage to US$7.77 billion, a new high for the month, Tsai said.    [FULL  STORY]

Electric scooter industry growing

Radio Taiwan International
Date: 2017-02-06

Last year, 20,000 electric scooters were sold in Taiwan. That set a new record and was

Electric scooters

nearly double the figure from the year before. (CNA file photo)
Last year, 20,000 electric scooters were sold in Taiwan. That set a new record and was nearly double the figure from the year before. To date, some 60,000 electric scooters have been sold in Taiwan.

There are currently about 1.65 million two-stroke scooters on the roads in Taiwan. The Environmental Protection Administration is looking to replace them within three years. If riders continue to replace them at last year’s rate, Taiwan may see over 40,000 electric scooters sold this year.

Economics Minister Lee Chih-kung spoke on Monday about plans to develop the market.   [FULL  STORY]

Evergreen Marine recognized for whale, clean air conservation

Focus Taiwan
Date: 2017/02/06
By: Chen Wei-ting and Elizabeth Hsu

Taipei, Feb. 6 (CNA) Evergreen Marine Corp. has received recognition for its

Photo courtesy of Evergreen Marine Corp.

performance in a voluntary environmental and ecological protection program aimed at reducing the greenhouse gas emissions of vessels and avoiding collisions with whales by encouraging slower sailing speeds, the Taiwanese company said in a statement Monday.

Evergreen Line was honored in September 2016 with an environmental protection award by the Port Authority of Los Angeles in recognition of its excellent performance in the 2015 Vessel Speed Reduction Program led by the National Oceanic and Atmospheric Administration (NOAA) of the United States, the company said.

The award ceremony took place on Jan. 23, it added.    [FULL  STORY]

Hotai looking to increase market share

WITH BENEFITS:The company is not relying on the government’s new car subsidy this year to improve sales, but is instead launching several new Toyota models

Taipei Times
Date: Feb 07, 2017
By: Kuo Chia-erh / Staff reporter

Hotai Motor Co (和泰汽車), the nation’s largest car distributor, yesterday said it aims to increase its local market share from 31.7 percent to 32.5 percent this year, supported by sales of its new models.

The company has also set an annual target to sell 140,000 cars, compared with last year’s 139,495, Hotai president Justin Su (蘇純興) said.

The company is relatively conservative about its sales outlook for this year, as the benefit of the government’s subsidy program might not be as effective as last year, Su told reporters.

The government’s five-year subsidy program offers car owners a NT$50,000 discount on commodity taxes when they buy a new car within six months of exporting or scrapping their used car    [FULL  STORY]

Local bourse ‘likely’ to break 10,000 points

The China Post
Date: February 7, 2017
By: The China Post news staff and CNA

TAIPEI, Taiwan — The weighted index on the Taiwan Stock Exchange will very likely

In this file photo dated Jan. 30, 2012, three men dressed as traditional fortune gods perform at a securities trading house in Taipei as the Taiwan Stock Exchange resumes trading after the Lunar New Year holiday. (AFP)

soar past the 10,000-point mark sometime in the first half of the year, bolstered by the growth momentum of international equity funds flowing into the market amid the weakening of the greenback, according to market observers.

Bullish sentiment seen since the local bourse reopened last Thursday following the Lunar New Year holiday continued on Monday, pushing up the index to end at the session’s high of 9,548 points, the highest level for a year and half.

Financial and old economy shares, which have large property assets, attracted strong buying throughout the session.    [FULL  STORY]