Business and Finance

Nuclear waste disposal contract with North Korea invalid: Taipower

Focus Taiwan
Date: 2017/09/25
By: Huang Li-yun and Y.F. Low

Taipei, Sept. 25 (CNA) A contract signed between state-run Taiwan Power Co.

CNA file photo

(Taipower) and North Korea in 1997 on the disposal of nuclear waste has never been valid, leaving the company with no obligation to pay any compensation to North Korea, an official said Monday.

The contract had allowed Taipower to ship 60,000 barrels of low-radioactive nuclear waste to North Korea for ultimate disposal but never came into force because North Korea did not provide Taipower the data necessary to obtain an export permit for the shipment, according to Taipower spokesman Lin Te-fu (林德福).

Although North Korea reportedly planned to seek NT$300 million in compensation from Taipower for breach of contract, the company has never received any formal request from North Korea for compensation or made any such payment, he said.
[FULL  STORY]

Taiwan at top of business cycle: Cathay

 FAINT SIGNAL:A former minister said Taiwan had not experienced a positive shock since the cross-strait trade pact and that civil servant pay rises would not be enough

Taipei Times
Date: Sep 26, 2017
By: Ted Chen  /  Staff reporter

Cathay Financial Holding Co (國泰金控) yesterday said it expects GDP growth next year to slow to 2 percent from 2.1 percent this year, as the expansion phase for the nation’s business cycle nears its conclusion in the absense of clear global growth catalysts.

“The nation’s business cycle is estimated to have entered its expansionary phase in October of 2015 and we are approaching the end of the growth period, which is predicted to last between 24 and 37 months,” said National Central University economics professor Hsu Chih-chiang (徐之強), who led the research team.

Much like other major markets such as the US, China and Europe, where the pace of growth has started to stabilize following a long expansionary period in their business cycles, Taiwan’s most recent expansion cycle has been tepid, Hsu said.

A slowdown in economic expansion would begin to take shape in the second half of this year, with quarterly growth predicted to fall to 0.58 percent between July and September and 0.46 percent in the last quarter of the year, Hsu said
[FULL  STORY]

Taiwan gas prices set to rise at midnight on Sunday

Radio Taiwan International
Date: 2017-09-24

Taiwan’s gas prices are set to rise for a fifth week in a row, pushing prices at the pump to a near seven-month high.

The state-run CPC Corporation, Taiwan will increase gas prices by NT$0.3 and diesel prices by NT$0.4 (both about US$0.01) per liter. The new prices will go into effect at midnight on Sunday going into Monday morning.

The new prices per liter will be: for super diesel, NT$22.6; for 92 octane unleaded, NT$24.8; for 95 octane unleaded, NT$26.3; and for 98 octane unleaded, NT$28.3 per liter.    [FULL  STORY]

Japanese Peach Aviation to launch Taoyuan-Sapporo flights starting Sunday

The budget airline has been trying to expand its market in Taiwan

Taiwan News 
Date: 2017/09/24
By: Juvina Lai, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — According to reports from Central News Agency, Japan-

(By Central News Agency)

based airline Peach Aviation will debut its Taoyuan-Sapporo flight service on Sunday and Taoyuan-Sendai flights on Monday. The round trip flights to Sapporo will be available every Wednesday, Friday and Saturday and the Taoyuan-Sendai flights shall be available every week on Monday, Tuesday, Thursday and Saturday.

There were recent reports about the budget airline trying to expand its market in Taiwan as the airline claimed the Taiwanese are among its most frequent travelers. Therefore, to be able to attend to more customers the airline decided to increase the number of flights and include more destinations for the travelers to choose from.

The reports also claimed that the company plans to double the current number of flights, which is 19, by 2020.    [FULL  STORY]

New Southbound Policy and Dutertenomics complement each other: MECO

Focus Taiwan
Date: 2017/09/24
By: Emerson Lim and William Yen

Manila, Sept. 24 (CNA) Taiwan’s New Southbound Policy and Dutertenomics

Philippine President Rodrigo Duterte/CNA file photo

complement each other economically, said Arthur Abiera, Jr., assistant corporate secretary of Manila Economic and Cultural Office (MECO).

Abiera explained to the Central News Agency that Dutertenomics seeks “to improve on construction of infrastructure and to deliver a better commercial and investment environment.”

“We welcome foreign business companies to be a part of the related plans”, he added.

Executive Secretary Salvador Medialdea of the Philippines Presidential Office described Dutertenomics as focusing on removing criminals from the streets in order to allow the populace to stay away from drugs and creating a safe environment for economic and social development.    [FULL  STORY]

Phison to incorporate AI in new drives

SMART AND SPEEDY:The technology would allow for faster data reading and writing speeds, as well as self-repair to extend the lifespan of its solid-state drives

Taipei Times
Date: Sep 25, 2017
By: Lisa Wang  /  Staff reporter, in HSINCHU

Phison Electronics Corp (群聯電子), a designer of NAND flash memory controllers

Robots move along designated routes without bumping into each other to demonstrate autonomous cars at the launch of an artificial intelligence lab organized by Phison Electronics Corp and National Chiao Tung University on Tuesday in Hsinchu.  Photo: Lisa Wang, Taipei Times

and modules, plans to launch its first controller that uses artificial intelligence (AI) for its next-generation solid-state drive (SSD) next year.

The Hsinchu-based company is joining the ranks of its global semiconductor peers in exploring AI business opportunities to embrace the arrival of the Internet of Things era and the challenge it poses of processing massive amounts of data.

“Nowadays, people receive tons of information from the Internet and social media, like Google or Facebook, that need to be sorted and analyzed, sometimes instantly,” Phison founding chairman Pua Khein-seng (潘健成) said on Tuesday on the sidelines of a news conference for the launch of an AI and robotics lab in Hsinchu.

“We hope to incorporate AI technology into our products and use it to deal with the complicated job of big-data sorting and analysis. As data traffic is doubling every year, it is increasingly impossible for people’s brains to do the job,” Pua said.
[FULL  STORY]

Taiwan to ban trade with North Korea

Radio Taiwan International
Date: 2017-09-23

The Cabinet has announced a ban on all trade with North Korea, to take effect next week. The Cabinet announced the ban late Friday.

Cabinet spokesperson Hsu Kuo-yung said that North Korea’s repeated missile launches and nuclear tests threaten international order and Taiwan’s security. Hsu said Taiwan condemns any behavior that damages regional peace and stability. He said Taiwan will comply with any joint action by the international community that will help maintain stability.

Hsu called on Pyongyang to abide by the decisions of the UN Security Council and to stop actions that threaten regional security.    [FULL  STORY]

Women rush to buy up Taiwan’s I-Mei Milk Tea at Costco

Report caused stir online due to the quantity involved

Taiwan News  
Date: 2017/09/23
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Three women caused a stir online by buying 18 boxes of I-

Three women buy 18 boxes of I-Mei Milk Tea at Costco (photo courtesy of Baofei Gongshe).

Mei Milk Tea (義美厚奶茶) within five minutes of a Costco outlet opening for business, according to a report in the Chinese-language Apple Daily.

A customer of the American supermarket chain witnessed the feat and took pictures to post on the Baofei Gongshe (爆廢公社) online forum.

The Costco outlet, which was not identified, opened at 9:30, but at 9:35 a.m. the three middle-aged women already stood by the cash register at the exit with three carts loaded with, according to the photographer, 18 large boxes of the milk tea.

The product must have been the most popular item on sale at Costco since a recent rush on its strawberry cakes, the Apple Daily wrote.

According to the witness, there was no milk tea left for other customers, which was echoed by online commentators who said they now knew why they never found the product when visiting the supermarket.    [FULL  STORY]

TSMC operations base to remain in Taiwan: Chairman

Focus Taiwan
Date: 2017/09/23
By: Chang Chien-chung and Kuan-lin Liu

Taipei, Sept. 23 (CNA) Morris Chang, chairman of the world’s largest contract chip

CNA file photo

maker, Taiwan Semiconductor Manufacturing Co. (TSMC), made it clear on Saturday that the company’s production and research and development base will remain in Taiwan even with opportunities abroad.

Chang said that TSMC’s base for production and R&D will remain primarily in Taiwan, although mainland China will be a vast market in the future, while answering questions from the audience at a 20th anniversary event for National Chiao Tung University’s EMBA program.

The tech tycoon noted the huge market and opportunity that China presents during a speech on “Growth & Innovation,” but clarified that being part of China’s supply chain does not mean most of TSMC’s production will move to China.    [FULL  STORY]

Taiwan, China rise at Frankfurt auto show

Taipei Times
Date:  Sep 24, 2017
By: Estelle Peard  /  AFP, FRANKFURT AM MAIN, Germany

Taiwan’s Thunder Power, which makes electric vehicles, is planning to sell up to

The new Thunder Power sports utility vehicle is displayed on the first press preview day of the International Motor Show in Frankfurt, Germany, on Sept. 12.
Photo: EPA

40,000 units a year in Europe, while Chinese automakers aim to pass the European quality test before expanding to other regions

Traditional heavyweights Fiat Chrysler Automobiles NV, PSA Peugeot Citroen and Volvo Car Corp might have shunned this year’s International Motor Show (IAA) in Frankfurt, Germany, but for Taiwanese and Chinese automakers looking to make inroads in Europe the chance to step into the limelight was not to be missed.

Two years after becoming a surprise hit at the previous IAA with an electric sedan concept car to rival Tesla Motors Inc’s Model S, Taiwanese upstart Thunder Power Co Ltd (淳紳) was back at Europe’s top industry showcase, which ends today.
[FULL  STORY]