Business and Finance

Monthly unemployment rate declines

STAGNANT WAGES:Average earnings rose 1.37 percent in the first eight months of the year, but a 1.38 percent increase in inflation erased gains in purchasing power

Taipei Times
Date: Oct 25, 2016
By: Staff writer, with CNA

The unemployment rate last month declined 0.09 percentage points from August to 3.99 percent, although it rose 0.10 percentage points from the same period last year, government figures released yesterday showed.

After seasonal adjustments, the jobless rate declined 0.02 percentage points to 3.93 percent last month, due to a drop in first-time jobseekers, the Directorate-General of Budget, Accounting and Statistics said.

That means 469,000 people were out of work, a decrease of 11,000 compared with August, the agency said.

The jobless rate tends to rise in July and August because of the entry to the job market of new university graduates.     [FULL  STORY]

French manager complains of Taiwanese workers’ deference

Focus Taiwan
Date: 2016/10/23
By: Chen Cheng-wei and Evelyn Kao

Taipei, Oct. 23 (CNA) A French senior executive at RT Mart Taiwan said Sunday that he has not been 201610230018t0001able to get used to his Taiwanese colleagues’ deference, adding that they tend to acquiesce to those in authority and seldom point out the faults of their superiors.

Jean-Manuel Cros, the human resources director at RT Mart Taiwan, who has worked in Taiwan for three years, said it is difficult for him to fit into the workplace culture, in which his Taiwanese colleagues show no defiance to orders.

Describing silence as the first impression Taiwanese people gave him, Cros said that “everybody in France argues with the boss, even entry-level workers in a company,” whereas Taiwanese workers do not usually stand up to their boss.

Under these circumstances, Cros said, it is difficult for him to find out the truth about a given situation, even though he has an actual need to learn what local consumers want as he tries to expand RT Mart’s market share in Taiwan.     [FULL  STORY]

Taiwan manufacturing sector’s output forecast to grow 1% in 2017

Taiwan News
Date: 2016-10-22
By: Central News Agency

With global economic growth momentum picking up in 2017, the production value of Taiwan’s manufacturing sector is expected to grow about 1 percent this year, according to the government-sponsored Industrial Technology Research Institute’s Industrial Economics and Knowledge Center (IEK, 工研院產業經濟與趨勢研究中心).

The IEK said that on the back of improving global demand, which will boost Taiwan’s export-oriented economy, the local manufacturing sector is expected to post NT$17.58 trillion (US$554 billion) in output in 2017, up NT$170 billion, or 1 percent, from a year earlier.

The IEK said that the latest forecast of the output of the local manufacturing sector came after Taiwan reported a rebound in outbound sales and an improvement in its composite economic indicators, which indicated that the local economy is growing at a quicker pace and that such a favorable development is expected to give a boost to the manufacturing sector.

In September, Taiwan’s export orders grew 3.9 percent from a year earlier. That represented the second consecutive month of year-on-year growth on the back of the launch of Apple Inc.’s iPhones.     [FULL  STORY]

First locally built tram car to be delivered Nov. 11

Focus Taiwan
Date: 2016/10/23
By: Bernie Chiu and S.C. Chang

Taipei, Oct. 23 (CNA) The first domestically built tram car will be delivered to Danhai Light Rail Transit 201610230021t0001System Nov. 11 with 15 more to follow in 2017, according to Taiwan Rolling Stock Co. (TRSC).

The company, based in Hukou, Hsinchu, has been making commuter trains for Taiwan Railway Administration. After investing billion of dollars in its tram car project, it will deliver its first tram to New Taipei city government next month.

“We’re already 20 years behind other advanced countries (in making trams),” said Tsai Huang-liang (蔡煌瑯), chairman of TRSC which is a joint venture of China Steel Corp., Tang Eng Iron Works and two Japanese firms — Nippon Sharyo and Sumitomo Corp. — who are minority share holders.

To manufacture light rail trams, TRSC has been cooperating with Germany’s Voith Engineering Services. “Light rail trams are pollution-free and environmentally friendly; they will be the mainstream public transit tools of the future,” said Tsai.    [FULL  STORY]

TSMC hands out extra bonuses

Taiwan News
Date: 2016-10-22
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – Taiwan Semiconductor Manufacturing Co., Ltd., the world’s biggest computer

TSMC Chairman Morris Chang.

TSMC Chairman Morris Chang.

chip contract manufacturer, announced Saturday it would spend NT$432 million (US$13.6 million) on bonuses for its employees next month.

The announcement was made by its long-term chairman, Morris Chang, at the company’s annual sports event, attended by an estimated 20,000 people at a stadium in Zhubei, Hsinchu County.

A total of 36,000 employees in Taiwan who had joined the company before June 1 were qualified to receive NT$12,000 (US$378) each at the end of November, reports said.

In his address to TSMC staff, Chang said that despite key changes in the chip business and the advent of several strong competitors, the Taiwanese company had still managed to increase its market share as well as its profits.    [FULL  STORY]

New China Steel Corp. chairman named

Focus Taiwan
Date: 2016/10/22
By: Tang Pei-chun and Lilian Wu

Taipei, Oct. 22 (CNA) The president of China Steel Corp. (CSC, 中鋼) has been appointed to serve as the

CNA file photo

CNA file photo

new board chairman of the company, the Executive Yuan confirmed Saturday.

Cabinet spokesman Hsu Kuo-yung (徐國勇), said that Wong Chao-tung (翁朝棟) will formally assume his new post very soon. Former CSC Chairman Andrew Sung (宋志育) retired at the end of September.

Wong, 62, started his way up from the grassroots of the company, and was assigned to supervise the building of a cold rolled steel plate plant in Vietnam six years ago.

He returned to Taiwan in January this year to serve as CSC subsidiary China Ecotek Corp. (中宇環保) chairman.

When he assumed the post of CSC president in June, he said he will work with the government’s “New Southbound Policy,” which ties in with the company’s project to tap the Association of Southeast Asian industry.   [FULL  STORY]

TWSE trading on Friday

Taiwan News
Date: 2016-10-21
By: Central News Agency

The weighted index on the Taiwan Stock Exchange opened at 9,322.55 today. After moving between 9,292.53 and 9,348.09, the index closed at 9,306.57 points, down 10.67. Turnover totaled NT$74.72 billion.

The weighted index, excluding the financial sector, closed at 7,945.74 points, down 9.99.

A total of 2,156 stocks closed up, and 2,799 ended down with 585 unchanged.

The top 10 stocks in terms of trading volume were 2409, 3481, 00637L, 1314, 2317, 2313, 00632R, 2891, 00633L and 2002.     [FULL  STORY]

All of Taiwan’s subway stations to get talking ATMs by 2017

Focus Taiwan
Date: 2016/10/21
By: Tsai Yi-chu and Frances Huang

Taipei, Oct. 21 (CNA) The Taipei and Kaohsiung subway systems will have talking automated teller 201610210017t0001machines (ATMs) installed at all of their stations by next year to serve the visually impaired, the Financial Supervisory Commission (FSC) said Friday.

Taiwan’s top financial regulator said banks in Taiwan will complete the installation of the machines, which use audible commands so they can be operated without assistance by the visually impaired, in all 154 stations of the two systems by May 2017.

One ATM will be installed at each station.

Currently, Cathay United Bank (國泰世華) is in charge of installing ATMs in the Taipei Metro, while Union Bank of Taiwan (聯邦銀行) is responsible for putting in ATMs in the Kaohsiung Metro.

As of the end of June, there were 260 talking ATMs available in all of Taiwan regardless of venue, including some in Taipei subway stations, but none had yet been installed in the Kaohsiung subway system.    [FULL  STORY]

Investors urged to try simulation of new TWSE feature

The China Post
Date: October 22, 2016
By: CNA

TAIPEI — The Taiwan Stock Exchange (TWSE) has urged investors to use its “trade-to-trade” simulation platform to gain familiarity with the securities trading mechanism that has gained popularity in global markets.

The exchange is making the appeal as it plans to extend the use of the “trade-to-trade” mechanism it currently uses for the warrants market to all securities.

In many stock markets, a “call auction” mechanism is used to match potential buyers and sellers of shares. Buy and sell orders are collected over a fixed period (which in Taiwan is five seconds) and are matched up at the end of the period.

Under a “trade-to-trade” system, however, buy and sell orders are matched up as soon as they are reported to the exchange, leading to trading on a real-time basis without any lag.     [FULL  STORY]

TWSE trading on Thursday

Taiwan News
Date: 2016-10-20
By: Central News Agency

The weighted index on the Taiwan Stock Exchange opened at 9,288.49 points today. After moving between 9,331.89 and 9,279.15, the index closed at 9,317.24, up 33.25. Turnover totaled NT$63.6 billion.

The weighted index, excluding the financial sector, closed at 7,955.73 points, up 32.02.

A total of 2,386 stocks closed up, and 2,655 ended down with 535 unchanged.

The top 10 stocks in terms of trading volume were 1314, 2313, 00632R, 2885, 2317, 2409, 00637L, 2371, 2023 and 1718.

The top 10 stocks in terms of trading value were 2317, 2330, 2498, 1301, 3008, 2313, 1314, 1326, 2412 and 00632R.     [FULL  STORY][