Business and Finance

Inventory-building lifts exports

GOLDEN WEEK:Companies are growing their inventories ahead of the week-long holiday in China to meet expected higher demand for new electronic gadgets there

Taipei Times
Date: Apr 11, 2017
By: Crystal Hsu / Staff reporter

The nation’s exports grew 13.2 percent year-on-year to US$25.71 billion last month, as local firms benefited from inventory-building demand ahead of high-season sales in China, and development of next-generation electronic devices, the Ministry of Finance said yesterday.

The growth dynamism could sustain this quarter, as the world economy is gaining momentum, giving global technology brands confidence to upgrade devices to boost sales.

“Exports saw an uptrend for the sixth consecutive month and recovered above the US$25 billion mark, in line with a stable economic recovery at home and abroad,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.

The upcoming Golden Week in China to celebrate Workers’ Day is leading firms to build inventory as people are expected to take advantage of the week-long holiday to buy new electronic gadgets, Tsai said.    [FULL  STORY]

Uber Taiwan to restart engine on Thursday

The China Post
Date: April 11, 2017
By: James Lo

Ridesharing company Uber on Monday announced that the company and its mobile

In this file photo taken Feb. 10, a car printed with the logo of the ridesharing company Uber Taiwan is seen in this photo. (Morgan Lin, The China Post)

application would be making a return to the Taiwanese market this Thursday with a new business model that aims to make the government view the business as one that operates legally.

After receiving NT$831 million (US$27 million) in fines for violations against Taiwan’s transportation laws, Uber’s Taiwan subsidiary suspended its services on Feb. 10. In total the company has been fined on 35 separate occasions. The government has said that Uber has yet to pay any of the total owed.

The suspension announcement led to criticism by both local Uber drivers and riders toward the government and Uber. Several Uber drivers even protested outside of the Ministry of Transportation and Communications Feb. 10, before a larger protest of some 300 drivers on Feb. 26.    [FULL  STORY]

Taiwan to invest NT$70B in smart machinery industry

Taiwan plans to inject NT$70 billion to transform Taichung City into smart machinery industry hub

Taiwan News
Date: 2017/04/07
By: Judy Lin, Taiwan News, Staff Write

Taiwan’s ITRI showcases its high precision machining centers, a precision equipment for aerospace applications.(By Central News Agency)

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TAIPEI (Taiwan News)—Taiwan’s Vice Economic Minister Shen Jong-chin (沈榮津) announced plans to invest NT$70 billion (US$2.29 billion) to transform Taichung City into a smart machinery city.

The Tsai Administration aims to transform Taiwan into a top exporter of smart machinery equipment, periphery accessories and systems to neighboring Southeast Asian countries.

Shen defined smart machinery industry as encompassing robotics, IoT, big data, smart technology, precision mechanics, and smart manufacturing.

The move to transform Taiwan’s manufacturing industry can also resolve low salary issues, he added.    [FULL  STORY]

Formosa Petrochemical announces fuel price hike for next week

Focus Taiwan
Date: 2017/04/08
By: Pan Chi-I and Frances Huang

Taipei, April 8 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier, said Saturday that it will raise its domestic gasoline and diesel prices next week as international crude oil prices continued an uptrend this week, in particular after an unexpected missile attack by the United States on Syria.

The military action, along with reduced worries over a supply glut, sent international crude oil prices up about 3 percent this week, prompting Formosa Petrochemical to decide on the price hike of NT$0.6 (US$0.02) per liter for gasoline and NT$0.7 per liter for diesel, effective from 1 a.m. Monday.

After the price increase, fuel prices at Formosa Petrochemical gas stations islandwide will rise to NT$21.7 per liter for super diesel, NT$24.3 per liter for 92 octane unleaded, NT$25.7 per liter for 95 unleaded and NT$27.8 per liter for 98 unleaded.
[FULL  STORY]

Taiwan to invest NT$70B in smart machinery industry

Taiwan plans to inject NT$70 billion to transform Taichung City into smart machinery industry hub

Taiwan News
Date: 2017/04/07
By: Judy Lin, Taiwan News, Staff Writer

TAIPEI (Taiwan News)—Taiwan’s Vice Economic Minister Shen Jong-chin (沈榮津)

Taiwan’s ITRI showcases its high precision machining centers, a precision equipment for aerospace applications.(By Central News Agency)

announced plans to invest NT$70 billion (US$2.29 billion) to transform Taichung City into a smart machinery city.

The Tsai Administration aims to transform Taiwan into a top exporter of smart machinery equipment, periphery accessories and systems to neighboring Southeast Asian countries.

Shen defined smart machinery industry as encompassing robotics, IoT, big data, smart technology, precision mechanics, and smart manufacturing.

The move to transform Taiwan’s manufacturing industry can also resolve low salary issues, he added.   [FULL  STORY]

USITC to probe alleged patent infringement by MediaTek, others

Focus Taiwan
Date: 2017/04/07
By: Jackson Chang and Frances Huang

Taipei, April 7 (CNA) The U.S. International Trade Commission (USITC) has voted to launch an investigation into patent infringement allegations against Taiwan-based integrated circuit designer MediaTek Inc. (聯發科) and other high-tech firms.

In a statement posted on its website on Thursday, the USITC said it will investigate a complaint filed by U.S.-based IC designer Broadcom Corp., which has accused MediaTek and its subsidiary MStar Semiconductor Inc. (晨星) and other companies from the U.S. and Japan of infringing on its technology in certain semiconductor devices.

According to the USITC, the products at issue are semiconductors and consumer audiovisual products containing those semiconductors, such as digital televisions (DTVs), set-top boxes, Blu-Ray disc players, DVD players/recorders, and multimedia streaming players.    [FULL  STORY]

Phison mulls bid for Toshiba chip unit

BIG BET:The firm said it may try to raise NT$10 billion to NT$20 billion by selling bonds and up to NT$6 billion by offering 20 million shares via a private placement

Taipei Times
Date: Apr 08, 2017
By: Lisa Wang / Staff reporter

NAND flash memory controller supplier Phison Electronics Corp (群聯電子) yesterday said it is considering making a NT$26 billion (US$849.65 million) contribution to a group of investors looking to acquire Toshiba Corp’s memorychip unit, to show its support for its debt-ridden Japanese partner.

Phison, about 10 percent owned by Toshiba, said it has formed a strong partnership with the Japanese firm over the past decade and it “would not be absent” from Toshiba’s divestment of its memorychip unit.

Phison was informed about the spinoff when Toshiba made the decision before the Lunar New Year holiday in February, the company said.  [FULL  STORY]

Penghu welcomes luxury liner

The China Post
Date: April 8, 2017
By: CNA

America’s luxury cruise ship Silver Shadow, photographed here, docked for the first time at Penghu’s Magong Harbor on Friday, April 7. The cruise ship brought 116 foreign visitors to the shores of Taiwan, marking the first cruise ship this year to stop by the country and therefore officially kicking off tourist season.   [FULL  STORY]

Majority of young workers in Taiwan cannot afford to buy homes: poll

Focus Taiwan
Date: 2017/04/07
By: Chiu Po-sheng and Y.F. Low

Taipei, April 7 (CNA) Most office workers in Taiwan under the age of 40 cannot afford to buy a home, despite a recent drop in property prices, according to a survey released by an online job broker Friday.

The survey conducted by yes123.com showed that only 12.1 percent of office workers under 40 have been able to purchase their own homes.

The other 87.9 percent cannot afford to do so, even though prices have declined in recent months, the poll found.

According to the survey, 53.9 percent of office workers under the age of 40 still live with their parents or other relatives, while 34 percent live on their own in rented units.
[FULL  STORY]

Compal to make Apple Watch, report says

Taipei Times
Date: Apr 07, 2017
By: Lauly Li / Staff reporter

Compal Electronics Co (仁寶) has reportedly joined Apple Inc’s Apple Watch supply chain and is likely to start shipments in the second half of this year, challenging Quanta Computer Inc’s (廣達) position as the product’s sole assembler, the Chinese-language newspaper Digitimes said yesterday.

Quanta has been the sole assembler of Apple Watch’s first and second-generation series since the US company unveiled its smartwatch in September 2014.

While Quanta has secured 100 percent order allocation for the next-generation Apple Watch, which is expected to be released in the second half of the year, Compal will be sharing the production load for the second-generation series, Digitimes said, citing sources in upstream supply chains.

To prepare for the manufacturing of Apple Watch in the second half, Compal has moved its smart devices manufacturing equipment from its Chinese plants in Nanjing and Kunshan to Chongqing, the report said.    [FULL  STORY]