Business and Finance

Nuclear reactors a last resort for stable power supply: minister

Focus Taiwan
Date: 2017/09/10
By: Yang Shu-min and S.C. Chan

Taipei, Sept. 10 (CNA) The two nuclear reactors in Taiwan that have been sitting idle

Shen (center)

will not be reactivated unless all other means of providing a stable power supply have been exhausted, Minister of Economic Affairs Shen Jong-chin (沈榮津) said Sunday.

Speaking to reporters on the sidelines of the World Congress on Information Technology (WCIT), Shen said that on the supply side, the government will make sure all power generators are operating normally and that the construction of new power plants is proceeding on schedule.

On the demand side, he said, his ministry is making efforts to improve load management and is encouraging consumers to adopt energy saving measures.
[FULL  STORY]

MOEA upbeat on exports for rest of year

Taipei Times
Date: Sep 11, 2017
By: Staff writer, with CNA

The Ministry of Economic Affairs (MOEA) is optimistic about Taiwan’s export performance for a second half of this year after the year-on-year increase in outbound sales last month for the 11th consecutive month.

The Bureau of Foreign Trade on Friday said that Taiwan is riding waves of solid global demand and enjoying a strong performance in exports at a time when the world’s economy is on the path of recovery.

Exports increased 12.7 percent year-on-year to US$27.77 billion last month, the highest in almost three years, according to Ministry of Finance trade data.

In the first eight months of this year, exports totaled US$202.59 billion, up 12.5 percent from a year earlier, the data showed.    [FULL  STORY]

Presidential Office: Taiwan APEC representative still being chosen

Radio Taiwan International
Date; 2017-09-09

The Presidential Office says it still choosing who will represent Taiwan at this year’s APEC leaders’ summit.

The office was responding to media speculation that former Premier Lin Chuan could be chosen for the job.

Taiwan is set to attend the 2017 APEC leaders’ summit, scheduled to take place this November in Vietnam. Due to sensitivity surrounding Taiwan’s political status, Taiwan sends a special representative to attend APEC leaders’ summits on behalf of the president.

In a piece Friday, Taiwan People News speculated that Lin Chuan’s recent appointment as a senior advisor the Presidential Office could be a move towards naming him Taiwan’s APEC envoy. The article cited an unnamed Democratic Progressive Party lawmaker who said it is possible Lin could be picked.
[FULL  STORY]

Taiwan’s export orders set record high in August

MOF said they were positive that the strong export performance would continue for the rest of the year.

Taiwan News
Date: 2017/09/09
By: Teng Pei-ju, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – As the global economy had shown a stable recovery, Taiwan’s

Stacks of containers (Source: Pexels)

export orders set a record high in August since September 2014, reaching US$27.7 billion and with overall exports increasing by double digits compared to August 2016, said Taiwan’s Ministry of Finance in a report released September 8.

Though Taiwan’s imports also increased in August, valued at about US$22 billion, the stronger export performance made a trade surplus worth US$5.7 billion, which is US$1.7 billion more than in August 2016.

The strong export performance is mainly attributed to electronic components, particularly the integrated circuit (IC) sector, which was responsible for US$8.3 billion out of the total US$9.6 billion in the category.    [FULL  STORY]

Taiwan wins big at international spirits competition

Focus Taiwan
Date: 2017/09/09
By: Chiu Po-sheng and Kuan-lin Liu

Taipei, Sept. 9 (CNA) Taiwan’s spirits shone bright at the 2017 Spirits Selection by Concours Mondial de Bruxelles, winning several gold and silver medals in the annual competition.

According to results of the 2017 Spirits Selection by Concours Mondial de Bruxelles that were released online Sept. 4, Taiwan won one grand gold medal, 11 gold medals, and 10 silver medals for the spirits it submitted to the competition in La Serena, Chile, Aug. 22-24.

The medal count put Taiwan among the top five countries in the competition, the others being France, China, Mexico and Italy.    [FULL  STORY]

Taiwan 2nd best quality of life in world: Internations

The report does not explain why Taiwan lost the top spot to Portugal this year

Taiwan News
Date: 2017/09/08
By: Sophia Yang,Taiwan News, Staff Writer

TAIPEI (Taiwan News) – In a new survey by the world’s largest network for people who

The photo shows Taipei 101, the tallest building in Taiwan. (photo by Sophia Yang) (By Taiwan News)

live and work abroad, Taiwan comes second in the world in terms of quality of life for expats, and ranked the 4th best place to work and live, according to Expat Insider 2017.

Portugal beats Taiwan, the 2016 winner, and surpasses Spain, Singapore, Austria, Switzerland and Germany in the survey for quality of life.

Expat Insider is one of the largest surveys worldwide offering an in-depth analysis of expat life across the world. More than 12,500 respondents representing 166 nationalities and living in 188 countries or territories were surveyed, providing insights through the eyes of expatriates in 2017.

Scores were calculated on dozens of factors, including quality of life, ease of settling in, cost of living, family life, personal finance, cost of living and healthcare.
[FULL  STORY]

Taiwan’s Kaohsiung City to launch electric car sharing system

Focus Taiwan
Date: 2017/09/08
By: Chang Che-fon and Y.F. Low

Taipei, Sept. 8 (CNA) Taiwan’s Kaohsiung City will open an electric car rental station on Oct. 1 as part the city’s electric car sharing system, Kaohsiung’s Transportation Bureau said Friday.

The station will be located at the No. 2 exit of the Sizihwan station of Kaohsiung’s MRT system. Five electric cars will be available during the month for people to try out the new service free of charge, the bureau said in a statement.

The electric car sharing system is being introduced in Kaohsiung based on a contract signed in May between the city government and the electric car rental company Unicar, according to the bureau.

Over the next two years, 50 electric car rental stations will be opened offering a total of 84 vehicles in the city, and the rate is tentatively set at NT$150 (about US$5.00) per 30 minutes, it said.    [FULL  STORY]

Exports hit four-year high

TECH BOOST:The finance ministry was not concerned about the decline in capital equipment imports, but added that it might need to revise up its exports forecast

Taipei Times
Date: Sep 09, 2017
By: Crystal Hsu / Staff reporter

The nation’s exports rose 12.7 percent from a year earlier to a four-year high of US$27.77 billion last month, aided by the launches of next-generation electronic devices ahead of the high sales season, the Ministry of Finance said yesterday.

The momentum might pick up further starting this month as Christmas and the Lunar New Year approach, analysts said.

“Apple Inc is due to launch its new iPhone next week, accounting for the strong demand for electronic parts used in mobile devices,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) told reporters.

Electronic components, which made up 34.7 percent of overall shipments, expanded 14.4 percent to a record-high US$9.64 billion last month, as the US technology giant is to release a redesign of the phone to mark its 10th anniversary.    [FULL  STORY]

Taiwan’s Foxconn closes in on Toshiba

Foxconn forms alliance with Apple and Sharp in its campaign to acquire Toshiba chips unit

Taiwan News
Date: 2017/09/07
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Foxconn Technology Group was getting closer to a takeover

Foxconn moves in on Toshiba. (By Associated Press)

of the memory chips unit of troubled Toshiba Corporation as it had formed an international alliance with Apple Inc. and SoftBank Group Corporation, news service Bloomberg reported Thursday.

Toshiba has been talking about selling off its memory division for months, as it is facing problems with other units, in particular its nuclear business in the United States.

An alliance including Bain Capital offered about US$19 billion for the memory chip maker, while KKR and Co. came up with a similar sum.

Foxconn, which is better known as Hon Hai Precision Industry Co., Ltd. (鴻海) in Taiwan, is not revealing details about its offering but it will be part of a major international alliance in order to avoid Japanese political fears of growing Chinese or Taiwanese influence over a key business, Bloomberg reported.    [FULL  STORY]

U.S. dollar closes lower on Taipei forex (update)

Focus Taiwan
Date: 2017/09/07
By: Frances Huang

Taipei, Sept. 7 (CNA) The U.S. dollar fell against the Taiwan dollar Thursday, shedding NT$0.043 to close at NT$30.062 amid rising hopes that the U.S. Federal Reserve will slow the pace of its rate hike cycle, dealers said.

Such expectations received a boost with the surprise resignation of U.S. Federal Reserve Vice Chair Stanley Fischer, who has been seen as a key supporter of interest rate normalization, they said.

Although foreign institutional selling in local equities helped the U.S. dollar combat downward pressure resulting from the Fed related developments, the U.S. currency still closed at its lowest level since May 22, when the unit ended at NT$30.052 against the Taiwan dollar, they added.

The greenback opened at a high of NT$30.090, and moved to a low of NT$30.010 before rebounding. Turnover totaled US$821 million during the trading session.
[FULL  STORY]