Business and Finance

Foxconn offering university graduates starting pay of NT$45,000

Master's degree employees will receive NT$52,000, while doctorate degree workers are offered NT$60,000 per month

Taiwan News
Date: 2020/04/03
By:  Central News Agency

Taiwan-based manufacturing giant Foxconn Technology Group has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates.

For those with a master's degree, the starting pay will be NT$52,000 per month at the minimum, while doctorate degree holders will earn at least NT$60,000 a month, Foxconn announced in a statement issued earlier this week. The latest recruitment drive is aimed at attracting talent mainly in the core technology areas of artificial intelligence, semiconductors, and next generation mobile communications, and also in the emerging industries of electric cars, digital healthcare, and robotics, the company said.

In addition, the company said, it will offer comprehensive training in technology, management, and general knowledge to help its new employees build successful careers. For example, all employees hired in the latest round of recruitment will be trained to become mid-range management staff in the future, said Foxconn.

It urged interested persons to apply via its website and said interviews of selected applicants will also be conducted online. Foxconn, the world's largest contract electronics maker, has been working to expand into the development of software and to integrate that with its hardware manufacturing proficiency.    [FULL  STORY]

Taiwan’s aid agency promotes financial inclusion in Palau

Focus Taiwan
Date: 04/03/2020
By: Emerson Lim

Image taken from Pixabay

Taipei, April 3 (CNA) The International Cooperation and Development Fund (ICDF), a development aid agency founded by Taiwan's foreign ministry, will soon help cash-strapped people and businesses in Palau through a financial inclusion scheme.

The program, which took effect after the signing of an agreement on March 30, is aimed at promoting inclusive and sustainable growth in the Pacific island nation, ICDF's public relations officer Alex Chang (張子弋) told CNA on Friday.

Under the plan, the ICDF and National Development Bank of Palau (NDBP) will team up to offer microfinance services to women, young people, and micro, small and medium-sized enterprises (MSMEs), which often have trouble obtaining loans, Chang said.

The ICDF will provide funds to NDBP, which will then loan out the funds based on its credit review procedures and also set up an assistance office to guide borrowers on how to utilize the money to improve their lives or create their own business, he said.    [FULL  STORY]

March housing transactions rose 7.8%

NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said

Taipei Times
Date: Apr 04, 2020
By: Crystal Hsu / Staff reporter

Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data.

Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said.

Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed.

Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality.    [FULL  STYORY]

Our Investor Personality Study reveals how investors cope differently in a market crisis

Survey of emerging affluent, affluent, and high-net-worth investors unveils top personality traits that impact investment decisions

Date: April 2, 2020

.In times of market turbulence, such as the current market swings caused by COVID-19, investors and their wealth advisors need to make challenging decisions and/or avoid bad ones. Standard Chartered’s new Investor Personality Study reveals the individual personality traits that have a major impact on the way investors react when faced with difficult investment decisions. Understanding these traits can help investors and their wealth advisors recognise and overcome the natural biases that can compromise their ability to make objective decisions about their portfolios, and to drive better investment outcomes.

The report surveyed 1,200 emerging affluent, affluent and high-net-worth (HNW) investors across Hong Kong, Singapore and Taiwan. It revealed nine personality traits that best describe each investor’s financial personality: Risk tolerance; Speculation; Composure; Confidence; Financial Comfort; Desire for Guidance; Impulsivity; Desire for Legacy; and Internal Locus of Control.

New Taiwan rules detailed for quarantine of deep-sea fishing boat crews

Taiwan News
Date: 2020/04/02
By:  Central News Agency

Taiwan is introducing new coronavirus rules for fishing crews  (CNA photo)

Crews on deep-sea fishing boats that have anchored in other countries or engaged in improper interactions during the COVID-19 pandemic will be subject to 14-day quarantine on their vessel when they return to Taiwan, effective immediately, according to a government official.

Crew members on deep-sea fishing ships and near-sea tuna fishing boats operating in waters between Taiwan and Japan, mostly migrant fishermen, will be covered by the new rule as part of government efforts to prevent the spread of the COVID-19 coronavirus, Fisheries Agency (FA) Director-General Chang Chih-sheng (張致盛) told CNA Wednesday.

Deep-sea fishing vessels are targeted because they spend more time operating in oceans far from Taiwan, while tuna fishing boats have been included because a large number of Taiwanese ships are engaged in the trade at a time when tuna fishing peak season is approaching.

Vessels that belong to these two categories that did not visit ports in other countries, did not interact with other ships or ship catch for other fishing vessels, those that did not change their crew and were not inspected by foreign officials in the 30 days before their return to Taiwan are excluded from the quarantine measure, Chang said.    [FULL  STORY]

Cabinet proposes NT$150 billion COVID-19 aid package for workers

Focus Taiwan
Date: 04/02/2020
By: Wu Chia-jong and Matthew Mazzetta

Taipei, April 2 (CNA) The Cabinet on Thursday put forth a plan to allocate NT$150 billion (US$5 billion) in aid to workers in Taiwan affected by the impact of the COVID-19 coronavirus on the country's labor market.

According to Minister without Portfolio Kung Ming-hsin (龔明鑫), the proposed special budget of NT$150 billion will be used to prevent mass unemployment in industries affected by the COVID-19 pandemic.

Under the plan, the government will pay subsidies to 1.92 million employees in industries reeling under the economic impact of the coronavirus, Kung said, adding that the number represents 16.67 percent of Taiwan's workforce.

Over a three-month period, the 1.92 million workers will receive 40 percent of their regular salary, he said at a press conference after the Cabinet met to draft the aid package.    [FULL  STORY]

Commercial property deals retreat 60%

HOLDING OUT: Sellers struggling to stay afloat and buyers waiting for price corrections remain on the sidelines to see how the COVID-19 crisis turns out for the property market

Taipei Times
Date: Apr 03, 2020
By: Crystal Hsu / Staff reporter

Commercial property transactions last quarter totaled NT$12.9 billion (US$425.63 million), declining 60 percent from the same period last year, as buyers turned conservative amid the COVID-19 pandemic, the latest data released by property brokers showed.

Industrial properties accounted for 80 percent of transactions, followed by offices at NT$1.34 billion, Colliers International Taiwan (高力國際) said in a quarterly survey yesterday.

However, Cushman & Wakefield Taiwan (戴德梁行) data showed that overall deals totaled NT$9.51 billion, representing a 61 percent retreat.

“The market might see a panic sell-off if the outbreak persists beyond this quarter,” Cushman & Wakefield Taiwan general manager Billy Yen (顏炳立) told an online news briefing last week.

Taiwan’s COVID-19 relief package could reach NT$1.05 trillion

Taiwan News
Date: 2020/04/01
By:  Central News Agency

The government plans to provide NT$1.05 trillion (US$34.64 billion) in two phases of an economic relief package to provide emergency aid to businesses and individuals hit by the COVID-19 coronavirus pandemic, President Tsai Ing-wen (蔡英文) said Wednesday.

The size of the package is expected to reach the NT$1.05 trillion figure after an estimated NT$150 billion is added to the package in the second phase, Tsai said in a speech on the government's response measures relating to the COVID-19 pandemic.

In the first phase, the government has allocated a NT$60 billion special budget to help fund industries affected by the pandemic and to provide an additional NT$40 billion sourced from government budgets and funds, such as the Employment Security Fund and the Tourism Development Fund, toward emergency relief and economic stimulus measures, according to Tsai.

Meanwhile, the first phase of the emergency relief package also includes nearly NT$350 billion in loans for businesses, she added.    [FULL  STORY]

Taiwan shares end lower ahead of long weekend

Focus Taiwan
Date: 04/01/2020
By: Frances Huang

Taipei, April 1 (CNA) Shares in Taiwan moved lower Wednesday to close below 9,700 points, as investors grew more cautious about the spread of the COVID-19 coronavirus during the upcoming Tomb Sweeping Festival, dealers said.

Selling was seen across the board in most sectors, led by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, as investors were seeking to hold onto cash due to the global uncertainty caused by the COVID-19 pandemic, dealers said.

The weighted index on the Taiwan Stock Exchange (Taiex) ended down 44.43 points, or 0.46 percent, at the day's low of 9,663.63, after coming off a high of 9,736.00. Turnover totaled NT$117.37 billion (US$3.88 billion) during the session.

The market opened up 0.19 percent on follow-through buying from the previous session, when the Taiex closed up 0.82 percent, but it soon fell into see-saw trading for most of the session, dealers said.    [FULL  STORY]

Manufacturing PMI increases to 53.1

UNEXPECTED: The increase was tied to the COVID-19 pandemic, as the outbreak disrupted work in China and delayed shipments, the vice president of CIER said

Taipei Times
Date: Apr 02, 2020
By: Crystal Hsu / Staff reporter

The official manufacturing purchasing managers’ index (PMI) held surprisingly strong at 53.1 last month, as inventory demand bolstered suppliers of electronics and optical products, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.

However, firms were downbeat about business in the next six months, as the COVID-19 pandemic is spreading in Europe and the US, hurting demand for exports, the Taipei-based think tank said in a survey.

Last month’s PMI reading rose 0.4 percentage points from a month earlier, as firms in the electronics, transportation and biotechnology sectors reported an improvement in business, while those selling food products, machinery equipment and basic raw materials reported negative cyclical movements, it said.    [FULL  STORY]