Business and Finance

Taipei announces availability of Taiwan’s first-ever testing ground for driverless vehicles

At a press conference on Tuesday, Taipei City Government announced the availability of Taiwan’s first-ever testing ground for driverless vehicles, which is located in the Beitou Shilin Science Park

Taiwan News
Date; 2018/03/13
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News)—At a press conference on Tuesday, Taipei City Government

(Photo courtesy of Taipei City Government)

announced the availability of Taiwan’s first-ever testing ground for driverless vehicles, which is located in the Beitou Shilin Science Park.

During the press event held at the experimental site, several driverless vehicles were running their field tests, including the EZ10, which had appeared in several other occasions in the past, the self-driving golf cart developed by National Taiwan University, and the self-driving PEV tricycle developed by National Taipei University of Technology.

The testing ground has an area of 10 hectares and is equipped with road infrastructure, the city government said. It’s open to developers and research institutes to test their self-driving vehicles under simulated road conditions, including the ability to read traffic signs and signals and react properly, the city government added.    [FULL  STORY]

Taiwan hiring outlook highest in Asia-Pacific region in Q2

Focus Taiwan
Date: 2018/03/13
By: Chiu Po-sheng and Frances Huang

Taipei, March 13 (CNA) Taiwan’s hiring outlook for the second quarter of this year is the

CNA file photo

most optimistic in the Asia-Pacific region, with the financial/insurance sector showing the strongest willingness to boost its workforce, U.S.-based human resources advisory firm ManpowerGroup said Tuesday.

According to the advisory firm, manpower demand remained solid and enterprises appeared upbeat about their recruitment over the next three months at a time of economic recovery.

Citing the latest ManpowerGroup Employment Outlook Survey, which collected 1,036 valid questionnaires in Taiwan, the advisory firm said the net hiring outlook stood at 26 percent, the highest level among eight economies in the Asia-Pacific region, ahead of Japan’s 24 percent and India’s and Hong Kong’s 16 percent.

China reported the most downbeat hiring prospects in the region, with the net hiring outlook at 8 percent in the second quarter, ManpowerGroup said.    [FULL  STORY]

Revenue, profit to rise: Wistron

EXTENDING GROWTH: The chairman expressed confidence that last year’s growth would continue, following a 31.22 percent surge in net income to NT$3.88 billion

Taipei Times
Date: Mar 14, 2018
By: Lauly Li  /  Staff reporter

Wistron Corp (緯創), one of Apple Inc’s iPhone assemblers, yesterday forecast that revenue and profit would continue to expand this year on robust demand for smartphones and data centers, after reporting that last quarter’s net profit was its highest in the past 18 quarters.

“We faced a very difficult time from 2014 to 2016. Last year was the first to see top-line and bottom-line growth in the past few years,” Wistron chairman Simon Lin (林憲銘) told a teleconference.

“We are confident that the momentum will extend to this year,” he said.

Wistron began assembling iPhones at the end of 2016. It shares orders of the larger 5.5-inch Plus model with Hon Hai Precision Industry Co (鴻海精密).    [FULL  STORY]

MOEA Provides Special Loans for Hualien Businesses

ICRT Radio News
Date: 2018-03-12

The ministry of economic affairs has released information on a special loan
for Hualien businesses.

The loan will provide up to 2-billion NT to businesses that were affected by
the deadly earthquake that struck the area on February 6th of this year.    [FULL  STORY]

Consumer prices are stable: Official

Radio Taiwan International
Date: 2018-03-12

The head of Taiwan’s government statistics office – Chu Tzer-ming – was reassuring the

The public is worried about toilet paper and other consumer product prices rising. (CNA)

public on Monday that consumer prices are stable.

Chu’s comments came as toilet paper prices were set to increase by between 10% and 30%. According to opposition KMT lawmaker Lai Shyh-bao, chicken prices have already increased by 20%.

When Lai asked why the Consumer Price Index (CPI) does not reflect rising prices, Chu responded by saying it’s because there has been a decrease in prices for other products.
[FULL  STORY]

Taiwan shares end above 11,000 points

Focus Taiwan
Date: 2018/03/12
By: Frances Huang

Taipei, March 12 (CNA) Shares in Taiwan closed sharply higher above the 11,000-point mark Monday on the back of a rally on Wall Street at the end of last week in reflection of job data from Washington, dealers said.

The bellwether electronics sector led the upturn, with tech heavyweights in focus after the tech-heavy NASDAQ index hit a record high, while buying in the financial sector also appeared solid, boosted by improved profitability, the dealers said.

The weighted index on the Taiwan Stock Exchange ended up 137.28 points, or 1.26 percent, at 11,002.10, after moving between 10,908,99 and 11,016.56, on turnover of NT$139.84 billion (US$4.77 billion).

The market opened up 0.41 percent in a knee-jerk reaction to a rise on Wall Street, where the Dow Jones Industrial Average ended up 1.77 percent, returning to the 25,000-point mark Friday.    [FULL  STORY]

Cathay lifts GDP growth to 2.3%

RISKS TO GROWTH: While global prospects look rosy, inflation is rising at a faster pace and central banks around the world are preparing to end quantitative easing

Taipei Times
Date: Mar 13, 2018
By: Ted Chen  /  Staff reporter

Cathay Financial Holding Co (國泰金控) yesterday raised its GDP growth forecast for the nation this year, but warned of external risks to growth.

The company revised up its growth forecast from 2 percent to 2.3 percent, as an improving economic growth momentum translates into stronger wage growth and consumption as well as higher interest rates ahead.

Despite the rosier outlook on global growth, inflation in the US, Europe and China is expected to rise faster at a time when central banks across the globe prepare to pull back quantitative easing efforts, researchers said, citing a survey by Bloomberg.

National Central University economics professor Hsu Chih-chiang (徐之強), who led the research team, said that Taiwan is also facing rising inflation, which adds to the conditions that would prompt the central bank to begin its interest rate hike cycle in the second half of this year.    [FULL  STORY]

U.S. dollar lower in Taipei trading

Focus Taiwan
Date: 2018/03/12
By: Y.F. Low

Taipei, March 12 (CNA) The U.S. dollar was traded at NT$29.256 at 10 a.m. Monday on the Taipei Foreign Exchange, down NT$0.044 from the previous close.   [SOURCE]

Officials brace for CPTPP membership

HIGH SPIRITS: The Bureau of Foreign Trade said Taiwan could make its membership bid in about two months, possibly hurting local industries, but bolstering global competitiveness

Taipei Times
Date: Mar 12, 2018
By: Staff writer, with CNA

Government officials are hopeful that Taiwan can join the recently signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), but cautioned that businesses catering to the home market could be hurt.

Bureau of Foreign Trade Director-General Yang Jen-ni (楊珍妮) on Friday said that Taiwan would have to lower its import duties if it joined the CPTPP, which would increase price competition for businesses that sell mainly to domestic customers.

Taiwan’s import duties currently average 4.1 percent for manufactured goods and 12.84 percent for agricultural produce.

The Ministry of Economic Affairs projects that reducing tariffs and opening the domestic market to meet the terms of the CPTPP would affect the automotive and heavy industries, as well as household electrical appliance manufacturers, which have mostly national markets, Yang said.    [FULL  STORY]

Economics ministry seeks talks over US tariffs

Radio Taiwan International
Date: 2018-03-09

The economics ministry said Friday that it hopes to hold talks with the United States on its new tariffs on steel and aluminum products.

The US president, Donald Trump, has announced a 25% tariff on steel imports and a 10% tariff on aluminum imports. The new tax, by which Trump seeks to protect domestic industry, has drawn criticism from many trading partners.

The economics ministry said the United States accounted for 13.16% of Taiwan’s steel exports and 23% of its aluminum exports in 2017. This makes the US Taiwan’s largest steel export market and sixth-largest aluminum export market.

The ministry said it hopes to exchange views with the US on the latest tariff and find ways to protect Taiwan’s interests.    [FULL  STORY]