Business and Finance

Taiwan ranks 20th in 2018 International IP Index

Taiwan News
Date: 2019/02/08
By:  Central News Agency

Taiwan gets good marks for its Intellectual Property environment. (By Central News Agency)

Taiwan ranked 20th in the international intellectual property (IP) index issued Thursday by the Global Innovation Policy Center (GIPC) of the U.S. Chamber of Commerce.

The GIPC report released its International IP Index, “Inspiring Tomorrow,” which assesses the IP environments of 50 world economies representing 90 percent of global GDP in 2018.

In the report, Taiwan’s ranking remained the same as in 2017, with a score of 28.05 points, among the 50 countries surveyed, while China ranked 25th, according to the report.

Among Asian countries, Taiwan came behind Japan in eighth, Singapore at 10th and South Korea in 13th. The United States, Britain and Sweden took the top three positions.  [FULL  STORY]

Free-range chicken best-selling jail-made food in 2018

Focus Taiwan
Date: 2019/02/07
By: Liu Shih-yi and Evelyn Kao 

Taipei, Feb. 7 (CNA) A species of native free-range chicken bred at Mingde Minimum-Security Prison in Tainan was the best-selling jail-made food across Taiwan in 2018, according to the Agency of Corrections under the Ministry of Justice.

Sales reached NT$10.60 million (US$344,870) last year with more than 4,000 customers, many placing occasional orders, said an agency official.

Mingde Minimum-Security Prison is situated in a mountainous area with fresh air and good quality water, with 30,000 chickens housed in several coops each year.

The Taiwan black-feathered country chickens are medium in size, with a single comb and red earlobes. They are also more disease-resistant than other species, according to the prison.    [FULL  STORY]

Migrant worker 2018 remittances to top US$3 billion: Central Bank

Focus Taiwan
Date: 2019/02/06
By: Pan Tzu-yu an Flor Wang

Taipei, Feb. 6 (CNA) Migrant workers likely remitted more than US$3 billion out of Taiwan in 2018, reflecting their growing numbers in the country, according to the Central Bank of the Republic of China (Taiwan).

In the first 11 months of 2018, migrant workers remitted US$2.8 billion out of Taiwan, compared with US$3 billion for the whole of 2017, said Ho Pei-chen (賀培真), deputy head of the central bank’s Foreign Exchange Department.

That amounted to remittances of more than US$300 per migrant worker on a monthly basis, which accounts for as much as half of their income, she said, based on statistics compiled by the Ministry of Labor (MOL).

The MOL estimates that foreign caregivers in Taiwan earn an average of US$647 per month and industrial workers average US$902 per month, Ho said.    [FULL  STORY]

TSMC production mishap to drag down Q1 sales by 2%: brokerage

Focus Taiwan
Date: 2019/02/05
By: Jeffrey Wu and Frances Huang

Taipei, Feb. 5 (CNA) A production problem in January caused by substandard raw materials will likely cost Taiwan Semiconductor Manufacturing Co. (TSMC) 1-2 percent of its sales in the first quarter, according to foreign brokerages.

An Asian brokerage said in a research note that the incident, which damaged more than 10,000 TSMC wafers, is expected to drag down the company’s sales by 1-2 percent in the first quarter and affect its gross margin.

In a statement filed with the Taiwan Stock Exchange on Jan. 29, TSMC said the problem, which was identified on Jan. 19, resulted in low yields on wafers produced with the 12 nanometer and 16nm processes at TSMC’s Fab 14B, a 12-inch wafer production site in Tainan.

An investigation found the problem to be caused by a batch of substandard photo-resistant materials, TSMC said, noting that the products were from “a well-performing” supplier with which the company has worked for years.    [FULL  STORY]

China Airlines addresses potential pilot strike at press conference

Seven representatives answered media questions about strikes Monday afternoon

Taiwan News
Date: 2019/02/04
By: Ryan Drillsma, Taiwan News, Staff Writer

It is not yet known if a strike will take place (By Central News Agency)

TAIPEI (Taiwan News) — China Airlines president Hsieh Shih-chien (謝世謙) led a press conference of seven company representatives Monday afternoon regarding disagreements over working conditions with the Pilot’s Union.

Taoyuan International Airport’s Pilot’s Union announced a potential Lunar New Year strike earlier this month. China Airlines said the company cannot know if it will go ahead or not.

Hsieh said if a strike does happen, China Airlines cannot guarantee it will definitely transport passengers to their destinations on time, but will undertake appropriate measures and make its best effort to see all reach their destinations.

Hsieh also mentioned that the union launched 21 labor disputes last year, five of which have been resolved. The other issues were left to be dealt with in further talks.
[FULL  STORY]

DBS lowers GDP forecast for Taiwan

WAITING ON 2020: The bank said the near-term outlook for the tech sector remained a challenge as the nation awaits rollout of 5G and a recovery in demand from China

Taipei Times
Date: Feb 04, 2019
By: Chen Cheng-hui  /  Staff reporter

DBS Bank Ltd (星展銀行) has lowered its GDP growth forecast for Taiwan this year to 1.9 percent, down from the 2.2 percent it estimated in December last year, as the economy faces increasing downside risks from the tech sector in the near term.

DBS said it would maintain its economic growth forecast for South Korea at 2.6 percent this year, despite its tech sector also slowing rapidly since the fourth quarter last year.

“Taiwan is more vulnerable than South Korea to the tech slowdown, given its higher exposure to the tech sector and higher reliance on external trade,” Singapore-based DBS economist Ma Tieying (馬鐵英) said in a report on Friday.

Electronics account for more than 40 percent of Taiwan’s total exports, while exports of overall goods and services account for 77 percent of the country’s GDP, DBS said.
[FULL  STORY]

Taiwan’s Foxconn confirms Wisconsin factory ‘moving forward’ after Trump phone call

Despite mixed messaging and incorrect reports, Foxconn expresses confidence in the Mount Pleasant project with a revised 18 month timetable

Taiwan News
Date: 2019/02/02
By: Duncan DeAeth, Taiwan News, Staff Writer

File Photo: Donald Trump and Terry Gou (R) review scale model of Mount Pleasant factory site (By Associated Press)

TAIPEI (Taiwan News) — Following several concerning reports about the state of Foxconn’s business abroad, and some rumors that the company was considering abandoning their multi-billion dollar panel production project in Wisconsin, the company has re-confirmed that despite some shift in focus, the Mount Pleasant panel factory remains on track.

The statement from Foxconn followed a reported phone conversation between U.S. President Donald Trump and CEO Terry Gou. Trump released a tweet reading “Great News on Foxconn in Wisconsin after my conversation with Terry Gou,” with a link to a CNBC article on the company doing “damage control” in Wisconsin.

Despite failing to meet hiring expectations for 2018, and failing qualify for tax incentives, Foxconn in mid-January said that they were confident in their hiring prospects and the pace of development for the US$10 billion Wisconsin factory.

That was before a Reuters report emerged days later saying the company was “refocusing” some aspects of its Wisconsin project.    [FULL  STORY]

Over 96% of full-time workers seeking Lunar New Year jobs: poll

Focus Taiwan
Date: 2019/02/02
By: Chiu Po-shen and Ko Lin

Taipei, Feb. 2 (CNA) More than 96 percent of full-time workers in Taiwan are hoping to find short-term jobs during the nine-day Lunar New Year break, according a recent survey.

Online job bank yes123 said that since it started conducting the annual poll in 2009, it is the first time that such a high percentage of employees have indicated they are interested in temporary jobs during the Lunar New Year holiday.

The poll showed that 96.1 percent of people who are currently employed in full-time jobs are seeking opportunities for short-term work over the nine-day break, which started Feb. 2.

On the question on why they are looking for temporary jobs, 50.9 percent said they are worried about not having enough money to spend during the holiday break, while 47.7 percent noted that the pay is generally higher during that period.    [FULL  STORY]

US dollar weakens after wage inflation fails to hit forecast

PATIENCE: The greenback surged after the report was released, but it returned to pre-data levels, which an analyst said reinforced the Fed’s moderate approach

Taipei Times
Date: Feb 03, 2019
By: Staff writer, with CNA and Reuters

The New Taiwan dollar on Friday fell against the US dollar, shedding NT$0.005 to close at NT$30.745.

However, that was a 0.3 percent gain from a close of NT$30.825 on Jan. 25.

The greenback opened at NT$30.750, moving between NT$30.725 and NT$30.775 before the close. Turnover totaled US$565 million during the trading session.

Elsewhere on Friday, the US dollar slipped after the US nonfarm payrolls report for last month showed very little wage inflation, affirming the US Federal Reserve’s patient stance on further interest rate increases.    [FULL  STORY]

We’re hiring!

Radio Taiwan International 
01 February, 2019
By: Andrew Ryan

Radio Taiwan International’s English Service Has an Opening For a Contract-based News and Social Media Editor

Responsibilities include:

writing, copy-editing, broadcasting, and maintaining web page and social media presence

Applicants must:

— have graduated from university

— have a good speaking voice

— be fluent in spoken and written English

— have knowledge of Taiwan news

— have experience editing news and managing social media presence

Proficiency in Mandarin Chinese and video editing experience are a plus.  [FULL STORY]