Business and Finance

Taiwan’s consumer prices stable as CPI shows 1.31% rise in June

Focus Taiwan
Date: 2018/07/05
By: Pan Tzu-yu and Evelyn Kao 

Taipei, July 5 (CNA) Taiwan’s consumer price index (CPI) rose 1.31 percent in June from a year earlier, due largely to a spike in tobacco tax and the price of raw materials, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Thursday.

When fruit, vegetables and energy were excluded, the core CPI for June showed only a 1.3 percent rise year-on-year, said Mei Chia-yuan (梅家瑗), deputy director of the DGBAS Statistics Department.

For the first half of the year, the increase in the core CPI was 1.6 percent, she said, adding that the latest figures indicated stable inflation.

Month-on-month, the CPI rose in June by 0.43 percent, and after seasonal adjustments by 0.28 percent, according to the DGBAS data.    [FULL  STORY]

Giant investing 15m euros for Hungary plant

EUROPEAN HUB: The plant in Gyongyos would be able to supply 300,000 bicycles per year after the first phase of construction is completed next year

Taipei Times
Date: Jul 06, 2018
By: Kuo Chia-erh  /  Staff reporter

Bicycle maker Giant Manufacturing Co (巨大機械) yesterday said it plans to spend 15 million euros (US$17.6 million) to build a new plant in northern Hungary to cement its position in the European market.

“The facility would become Giant’s second manufacturing base in Europe,” a company official said by telephone, adding that the firm expects sales to Europe to see double-digit percentage growth this year on the back of growing demand for electric models.

Giant said it chose Hungary as a base because of its favorable location and well-developed transportation network, which could help the company expand its sales channels in eastern Europe, chairwoman Bonnie Tu said in a statement.

Covering about 22 hectares, the plant in Gyongyos would be able to supply 300,000 bicycles per year after the first phase of construction is completed in the second half of next year, Giant said.    [FULL  STORY]

Harvard professor, tech industry converge at AI conference in northern Taiwan

Hsinchu Science Park to put on industry-university conference to improve Taiwan’s AI tech on July 6

Taiwan News
Date: 2018/07/04
By: Scott Morgan, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Hsinchu Science Park (新竹科學工業園區) will put on an industry-

Hsinchu Science Park Administration Building (By Wikimedia Commons)

university conference, drawing in participation from some of Taiwan’s most successful tech companies and a Harvard professor to improve artificial intelligence (AI) technology in Taiwan on July 6.

Harvard Professor H. T. Kung (孔祥重) and companies including Quanta Computer, Lianfa Technology and MediaTek will attend the “The Future AI” conference at the Sheraton Hsinchu Hotel, reported CNA.

Kung is the William H. Gates Professor of Computer Science and Electrical Engineering, and his research primarily focuses on machine learning, compressive sensing and computer networks.

The conference’s topic is “Deep Learning: Why It Matters to Most of Us” and is an opportunity for both teams and individuals to showcase their AI research, results and experiences.    [FULL  STORY]

Taiwan shares open lower

Focus Taiwan
Date: 2018/07/05
By: Flor Wang

Taipei, July 5 (CNA) The Taiwan Stock Exchange’s main index opened down 30.96 points Thursday at 10,690.91 on turnover of NT$1.8 billion (US$58.95 million).   [SOURCE]

Property deals might slow over price feuds: analysts

Taipei Times
Date: Jul 05, 2018 
By: Crystal Hsu  /  Staff reporter

Real-estate transactions might slow down, despite a modest gain in the first half of the year, as demand alone is not enough to uphold the market, Cushman & Wakefield Taiwan said yesterday.

The total number of property deals this year might hover at about 260,000 units, behind last year’s 266,000, as buyers and sellers remain divided on property values, Cushman & Wakefield Taiwan general manager Billy Yen (顏炳立) said.

“Willful buyers who underpinned the market in previous few years want to cash out now … but they refuse to concede and drag out the drama,” Yen told a news conference.

It is not wise to ask for unreasonable prices, Yen said, adding that a lack of concessions has rendered transactions difficult, if not impossible.    [FULL  STORY]

Australian reserve bank keeps interest rate unchanged at 1.5 %

Official cash rate left unchanged for 23rd consecutive month

Taiwan News 
Date: 2018/07/03
By: Scott Morgan, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The Reserve Bank of Australia (RBA) kept the official interest rate

RBA building in Sydney. (Flickr user: Newtown Graffiti )

unchanged at the historic low of 1.5 percent today, on the back of high household debt and relatively low consumer spending.

The decision to leave official interest rate at 1.5 percent was strongly expected by economists and analysts, as reflected by the Australian dollar being unaffected by the news.

This was the 23rd consecutive month where the official cash rate was left unchanged.

Australia currently has strong business investment and infrastructure spending, however relatively weak consumer spending, high household debt and slower than expected wage growth which dampened thoughts about raising interest rates.    [FULL  STORY]

Taiwan’s Chang Hwa Bank to officially open Manila branch

Focus Taiwann
Date: 2018/07/03
By: Han Ting-ting and William Yen

Taipei, July 3 (CNA) Taiwan’s Chang Hwa Bank (CHB) is set to officially open a branch in

CNA file photo

Manila, capital of the Philippines July 9, as part of an ongoing plan to expand its overseas operations.

In July 2017, CHB, one of the major commercial banks in Taiwan, announced that the Philippine government approved its application to open a branch in Manila.

The bank is looking to capitalize on rapid economic growth in the Philippines and the government’s policies to improve the investment environment, it said.

The Philippines has performed strongly in recent years, with an economic growth rate of over 6 percent every year since 2010, CHB pointed out.    [FULL  STORY]

Nanya revenue hits record high in June

ROBUST DEMAND: Replacement demand for entry-level smartphones in developing countries such as India is expected to spur memorychip demand, the company said

Taipei Times
Date: Jul 04, 2018
By: Lisa Wang  /  Staff reporter

DRAM chipmaker Nanya Technology Corp (南亞科技) yesterday saw last month’s revenue climb to a record high as the company offered a bulked-up, more cost-effective 20-nanometer chip to satisfy robust customer demand.

The gain marked the third consecutive month that the chipmaker broke a company record, as it benefits from the longest boom period for the DRAM industry since the second half of 2016.

Revenue last month rose 3.12 percent to NT$8.59 billion (US$280.85 million), compared with NT$8.33 billion in May and NT$4.19 billion in June last year, bringing second-quarter revenue up 30.85 percent to NT$24.6 billion from NT$18.8 billion in the first quarter, a company statement said.

Planning to convert more chips from 30 nanometer to 20 nanometer technology and to sell more of the higher-priced DDR4 chips, Nanya Technology expects second-quarter shipments to grow at a quarterly rate of 15 percent from the first quarter.    [FULL  STORY]

Agricultural council vows to help pineapple farmers sell products

Radio Taiwan International
Date: 2018-07-02

Agriculture Minister Lin Tsung-hsien says the government will help pineapple farmers sell their produce, including processed pineapple products. He was speaking on Monday at the legislature.

Farmers are having a bumper harvest this year. Government estimates show that pineapple production could reach over 580,000 tons this year. By late June, pineapple exports had already reached 30,000 tons, up nearly 30% over last year.    [FULL  STORY]

‘2018 APEC O2O Summit’ held in southern Taiwan

The Summit, which kicked off in Kaohsiung on July 2, aims to promote ‘Online to Offline’ integration for regional start-ups and SMEs

Taiwan News 
Date: 2018/07/02
By: Duncan DeAeth, Taiwan News, Staff Writer

The 2018 APEC O2O Summit (By Central News Agency)

TAIPEI (Taiwan News) – The 2018 APEC O2O Summit, jointly hosted by the Ministry of Economic Affairs (MOEA) and the Kaohsiung City Government began in Kaohsiung on Monday, July 2, and will finish on July 3.

Representatives from 20 different countries, including Thailand, Malaysia, and the Philippines joined the Asia-Pacific Economic Cooperation (APEC) Summit in southern Taiwan to discuss merging trends in regional business and to promote “Online to Offline” (O2O) integration strategies to drive economic development and expand digital business opportunities.

The Summit’s focus is to promote the digital transformation of small and medium enterprises throughout the region. Liberty Times reports that 10 new foreign start-ups were represented at the Summit, and representatives from 50 new domestic start-up companies were in attendance as well.

APEC is one of the few international organizations in which Taiwan has full official membership. APEC recognizes the important position that Taiwan plays in regional development and economic cooperation across various industries.    [FULL STORY]