Business and Finance

Taiwan boosts tourism cooperation with Myanmar

Myanmar is one of the countries that Taiwan’s New Southbound policy is targeting

Taiwan News
Date: 2018/07/21
By: Alicia Nguyen, Taiwan News, Staff Writer

Taiwan’s Tourism Bureau conducted the first overseas tourism workshop in Myanmar on July 18 (By Central News Agency)

TAIPEI (Taiwan News) – In an attempt to attract a larger number of tourists from Myanmar, Taiwan’s Tourism Bureau organized the first overseas tourism workshop in the Southeast Asian nation.

In a press release issued on July 20, the Tourism Bureau stated that the number of tourists coming from Myanmar has seen a significant increase of 58 percent from January to May of this year, which is a result of the New Southbound Policy’s simplified visa application for Southeast Asian tourists.

On July 18, a small group formed by Tourism Bureau’s members received a warm welcome from the local government to conduct first international Taiwan’s Tourism Workshop in Yangon, Myanmar. The activity drew the attention of Myanmar Union of Travel Association, Myanmar Responsible Tourism Institute along with more than 150 local travel operations, reported CNA.

Attending the opening ceremony, Taiwan’s Representative in Myanmar expressed his expectation of solid bilateral cooperation between travel agencies of the two countries, a stable framework for a future market development, and an increasing number of Myanmar tourists to Taiwan.    [FULL STORY]

Foreign brokerages maintain ‘buy’ ratings on TSMC

Focus Taiwan
Date: 2018/07/21
By: Jeffrey Wu, Chang Chien-chung and Frances Huang

Taipei, July 21 (CNA) Several foreign brokerages have recommended that

CNA file photo

investors buy into shares of Taiwan Semiconductor Manufacturing Co. (TSMC), the world largest contract chipmaker, after the company on Thursday gave its third-quarter sales guidance.

Although TSMC has forecast a slowdown in its quarterly revenue growth, its share price has been factored into its third-quarter projection of less than 10 percent growth, the brokerages said.

On Thursday, TSMC CEO and Vice Chairman C.C. Wei (魏哲家) said at an investor conference that weaker global demand for mining devices used for cryptocurrency transactions is expected to affect the company’s sales, resulting in 8 percent sequential growth in the third quarter.

The third quarter guidance was given after TSMC reported a net profit of NT$72.29 billion (US$2.35 billion) for the April-June period, down 19.5 percent from the first quarter. The second quarter results, however, were in line with market expectations.    [FULL  STORY]

New Taiwan dollar hits 16-month low

FALLING YUAN: The US dollar fell against major currencies amid criticism by Trump against the Fed and the greenback’s strength amid depreciation of China’s currency

Taipei Times
Date: Jul 22, 2018
By: Staff writer, with CNA and Reuters

The New Taiwan dollar on Friday fell to NT$30.716 against the US dollar, its lowest level in 16 months, as regional currencies dropped during the week, dealers said.

Buying in the US dollar strengthened as foreign investors remitted their funds after receiving large cash dividends from their investments in some listed companies in Taiwan, the dealers said.

The NT dollar on Friday fell NT$0.084, or 0.27 percent, against the US dollar after moving between NT$30.630 and NT$30.750.    [FULL  STORY]

Pharmaceutical R&D breakthroughs recognized

Radio Taiwan International
Date: 2018-07-20

The government has given awards to the top R&D breakthroughs in the field of pharmaceutical research.

The Food and Drug Administration (FDA) and the Industrial Development Bureau co-hosted the Pharmaceutical Technology Research and Development Award on Friday. The awards have been in existence for 17 years. They honor technological achievements by local pharmaceutical companies.
Nine companies were recognized this year. Awards included a successful improvement to the flu vaccine by Adimmune, and a new patent from Chunghwa Chemical Synthesis & Biotech that reduces the cost of multiple drugs.

An FDA official said Taiwan’s pharmaceutical companies possess world-class R&D capability and the government will continue to help them shine on the world stage in the future    [FULL  STORY]

5,500 Taiwanese companies to showcase their wares in Vietnam

Taiwan Expo 2018 to showcase the best of Taiwan’s technology and lifestyle companies in Ho Chi Minh City

Taiwan News 
Date: 2018/07/20
By: Scott Morgan, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – More than 5,500 Taiwanese technology, eco-friendly and

Taiwanese products on display. (Image courtesy of Taiwan Expo in Vietnam Facebook)

lifestyle companies will showcase their wares at the Taiwan Expo 2018 in Ho Chi Minh City from July 26 to 28.

The event will be split into eight themes: Digital Commerce, Green Products, Healthcare, Orchids, Smart City, Taiwan Bubble Tea, Taiwan Excellence, and Tourism.

The event will also have facilities for one-on-one meetings between suppliers and buyers, a showcase of Taiwanese startups, cultural performances and a showcase of Taiwanese medicine.

There will also be seminars on “Taiwan Excellence Smart Life” and “Future Trends of the Orchid Industry” according to Vietnam News.    [FULL  STORY]

Employees in rented accommodation spend 27 percent of income on rent

Focus Taiwan
Date: 2018/07/20
By: Tsai I-chu and Hsu Hsiao-ling

Taipei, July 20 (CNA) Salaried workers who live in rented accommodation in

CNA file photo

Taiwan spend about 27 percent of their income on average on rent, according to a poll released Friday by the 1111 Job Bank.

The poll respondents have an average monthly salary of NT$34,386 (US$1,122.50).

The respondents in Taipei spend an average NT$10,392 per month for their accommodation, the highest level among the six municipalities — Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung.

Among the six municipalities, Tainan has the cheapest rent, with respondents spending an average NT$6,000 per month, according to the poll.   [FULL  STORY]

Export orders flat last month

DOWNTREND: Last month signaled an end to 21 months of expansion as orders for technology-related products declined, but first-half orders still hit a record high

Taipei Times
Date: Jul 21, 2018
By: Kuo Chia-erh  /  Staff reporter

Export orders edged down 0.1 percent year-on-year to US$40.31 billion last month, mainly due to slower sales of information technology and communications (ICT) products, the Ministry of Economic Affairs said yesterday.

Last month’s figure ended 21 consecutive months of annual expansion and missed the ministry’s target.

Export orders for the first half of the year still reached a record-high US$238.44 billion, up 6.6 percent from the same period last year.

“Last month’s decline was mainly due to a drop in orders for technology-related products,” Department of Statistics Director-General Lin Lee-jen (林麗貞) said at a news conference.    [FULL  STORY]

Power use hits record high for July in Taiwan

Electricity consumption in Taiwan hit an all-time high for July at 36.705 million kilowatts on Thursday, July 19

Taiwan News  
Date: 2018/07/20
By:  Central News Agency

TAIPEI (CNA) — The soaring mercury pushed peak electricity consumption in

(By Central News Agency)

Taiwan to an all-time high for July of 36.705 million kilowatts on Thursday, according to state-run Taiwan Power Co. (Taipower).

The record high occurred at 1:50 p.m., and surpassed the previous highest for July of 36.46 million kW set the previous day, Taipower said, adding that it was also the third highest daily consumption ever recorded.

The two highest daily power consumption levels were 36.771 million kW and 36.713 million kW set on May 30 and May 31, respectively, Taipower data shows.

Cheng Yu-tsai (鄭有財), Taipower’s deputy superintendent for central coordination, said heat accumulated from continued days of high temperature has driven up electricity consumption.    [FULL  STORY]

Outstanding industry players recognized at Bio Taiwan 2018

Focus Taiwan
Date: 2018/07/19
By: Han Ting-ting and Evelyn Kao

Taipei, July 19 (CNA) CH Biotech R&D Co., and TaiGen Biotechnology Co. on

President Tsai Ing-wen (蔡英文, right)

Thursday received gold awards for their outstanding achievements in the biotechnology industry during the opening ceremony of Bio Taiwan 2018, Asia’s leading event for biotech industry, according to the event’s organizers.

Foresee Pharmaceuticals Co. and medical devices producer, Wiltrom Co. won the award for biotech companies with the greatest potential, while iXensor, SynCore Biotechnology Co., and TAHO Pharmaceuticals Ltd. clinched innovation awards.

TaiGen was rewarded for developing antibiotics that have been licensed for use in more than 30 countries and for completing a second-stage clinical trial of a new drug for hepatitis C. The company also plans to submit an application for its newly developed orally administered antiflu drug with the United States Food and Drug Administration’s Investigational New Drug (IND) program in 2019.

TSMC drops revenue growth forecast

RIGID GOAL: The chipmaker said that its objectives are unchanged, and it still expects to meet its five-year compound annual growth target of between 5 and 10 percent in 2021

Taipei Times
Date: Jul 20, 2018
By: Lisa Wang  /  Staff reporter

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies chips for Apple Inc’s iPhones, yesterday cut its revenue growth forecast for this year again, to less than 10 percent, as volatile bitcoin prices dampened demand for the chips used in cryptocurrency mining machines.

The latest downward adjustment came after TSMC reported a 19.5 percent contraction in net profit to NT$72.29 billion (US$2.36 billion) for the April-to-June quarter, compared with NT$89.79 billion in the first quarter. Net profit expanded 9.1 percent year-on-year from NT$66.27 billion.

At the beginning of this year, the Hsinchu-based chipmaker was aiming for a revenue growth rate of between 10 and 15 percent for this year.

However, a decrease in smartphone demand last quarter and the recent decline in cryptocurrency mining activity has prompted clients to cut orders, TSMC said.