Business and Finance

Tsai opens textile trade show

SENSING GROWTH:Among the products being highlighted at the show are functional fabrics that can be used to produce ‘smart’ clothing

Taipei Times
Date: Oct 18, 2016

The 2016 Taipei Innovative Textile Application Show (臺北紡織展), with a focus on environmentally

President Tsai Ing-wen, second left, listens yesterday as Far Eastern New Centruy Corp chairman Douglas Hsu, behind mannequin, introduces one of his company’s textile products at the 2016 Taipei Innovative Textile Application Show at the Taipei World Trade Center’s Nangang Exhitibion Hall. Photo: CNA

President Tsai Ing-wen, second left, listens yesterday as Far Eastern New Centruy Corp chairman Douglas Hsu, behind mannequin, introduces one of his company’s textile products at the 2016 Taipei Innovative Textile Application Show at the Taipei World Trade Center’s Nangang Exhitibion Hall. Photo: CNA

friendly and functional products, was opened yesterday by President Tsai Ing-wen (蔡英文) at the Taipei World Trade Center’s Nangang Exhibition Hall.
The government will work with textile manufacturers seeking to build their own brands and develop functional textiles, Tsai said in her opening speech.

She also urged local firms to cooperate with information technology companies to upgrade their industry and make it more competitive globally.

A total of 376 local and foreign exhibitors are displaying their products in 800 booths, making this year’s three-day show the biggest in its 20-year history, said the Taiwan Textile Federation (中華民國紡織業拓展會), the show’s organizer.

With the Paris Agreement under the UN Framework Convention on Climate Change to take effect on Nov. 4, Taiwan’s textile sector is determined to support the global trend of eco-friendly practices by exhibiting “green” products, the federation said.     [FULL  STORY]

More export orders for last month expected

APPLE EFFECT:The MOEA said the new iPhone range has been well received by the market, as a result of which local suppliers to Apple have enjoyed increased orders

Taipei Times
Date: Oct 17, 2016
By: Staff writer, with CNA

The nation is expected to have recorded a year-on-year increase in monthly export orders for the second consecutive month last month, largely on the back of the launch of Apple Inc’s latest iPhone models, the Ministry of Economic Affairs (MOEA) said on Saturday.

The US consumer electronics giant unveiled the 4.7-inch iPhone 7 and 5.5-inch iPhone 7 Plus on Sept. 7, and global sales began on Sept. 16.

The ministry said the new iPhone range has been well received by the market, as a result of which local suppliers to Apple have benefited from increased orders from the US firm.

The ministry is scheduled to release last month’s export orders data on Thursday.     [FULL  STORY]

Online sales in Taiwan reach US$2.85 billion in Jan-July period

Taiwan News
Date: 2016-10-16
By: Central News Agency

Online sales reached NT$90.4 billion (US$2.85 billion) in the first seven months of the year, according to new statistics provided by the Ministry of Economic Affairs (MOEA).
Sales could reach a new high this year, thanks to the increasing number of 4G Internet users and moves by online business operators to launch shopping applications (apps) for mobile devices, the ministry predicted.

The MOEA statistics show that sales of non-store retailers (online stores shops and retailers taking mail orders) increased from NT$110.3 billion in 2011 to NT$146.7 billion in 2015, which represents average annual growth of 7.5 percent.

Meanwhile, sales growth has increased demand for e-commerce related skills, according to the Workforce Development Agency under the Ministry of Labor (MOL).     [FULL  STORY]

Vice president attends award ceremony for outstanding business women

Focus Taiwan
Date: 2016/10/16
By: Chen Cheng-wei and Evelyn Kao

Taipei, Oct. 16 (CNA) Vice President Chen Chien-jen (陳建仁) said Sunday at an ward ceremony for

Vice President Chen presents award to Chen Huang (L front).

Vice President Chen presents award to Chen Huang (L front).

the top 10 outstanding ethnic Chinese businesswomen around the world that he hoped these women could use their strengths in the economic and trade areas to help the government promote exchanges with other countries.

At the Hua Guan (also spelled as Hua Kuang) Award (華冠獎) Ceremony for the World’s Top 10 Outstanding Chinese Women Entrepreneurs organized by the Global Federation of Chinese Business Women, Chen said that the winners of the award this year and in the past for their business accomplishments or contributions to society could serve as role models for Chinese business women around the world.

Chen also praised members of the federation for the economic power they display and the contributions they have made.     [FULL  STORY]

Taiwan Cement plans China price hike

RECOVERING DEMAND:This year, China is expected to produce more than 2.4 billion tonnes of cement, an increase of at least 4 percent from last year’s figure, the firm said

Taipei Times
Date: Oct 17, 2016
By: Kuo Chia-erh / Staff reporter

Taiwan Cement Corp (台灣水泥), the nation’s largest cement maker, said that by the end of the year it would raise prices of its cement products in China by as much as 7 percent, on the back of recovering demand.

The company’s latest price adjustments for its Chinese customers are scheduled to be announced early this week.

“We are planning to increase cement prices in southern China by 20 yuan [US$2.97] per tonne,” company senior vice president Edward Huang (黃健強) said by telephone on Friday last week.

The 70-year-old company said it is seeing a gradual recovery this year, supported by improving demand from China’s infrastructure and residential property sectors.     [FULL  STORY]

Taiwan Optical seeking to acquire EBC TV station

Focus Taiwan
Date: 2016/10/15
By: Esme Jiang and Frances Huang

Taipei, Oct. 15 (CNA) Taiwan Optical Platform Co. (台灣數位光訊) is aiming to acquire a majority stake 201610150005t0001in Eastern Broadcasting Co. (EBC, 東森電視) and says it hopes to transform it into a 4K high-definition TV platform after it completes its deal to purchase the major Taiwanese broadcasting company.

Taiwan Optical, which provides a wide range of telecommunication services, such as Internet broadband access service, online gaming, e-learning, VoIP service, and wireless broadband service, announced on Friday that it will acquire a 65 percent stake in EBC for NT$11.12 billion (US$351 million).

EBC is one of the top 10 TV stations in Taiwan; operating 10 TV channels, including two news channels.

Currently, Taiwan Optical Platform ranks as the 5th largest cable TV system operator in the country, having about 295,600 subscribers in central Taiwan, where the company is based, and taking a 5.8 percent share in the local cable TV market.     [FULL  STORY]

Over 7,000 customers take part in green power purchase project

Taiwan News
Date: 2016-10-15
By: Central News Agency

More than 7,000 customers have signed up to the green power purchase project launched by state-owned Taiwan Power Co. (Taipower) in an effort to promote renewable energy and environmental protection, surpassing its goal of 4,000 customers for the year.

The latest statistics show that 7,029 customers — including enterprises and individuals — have bought green energy so far this year.

Although the number of customers has surpassed the original goal of 4,000, Taipower has still fallen far short of its goal of selling 1 billion kilowatt hours of renewable energy for the year, with existing customers buying only 268.9 million kWh in total.

Of the enterprises that purchased green energy, 19 bought more than 1 million kWh.     [FULL  STORY]

Stabilization fund rakes in NT$1.2 billion in net profit

Focus Taiwan
Date: 2016/10/15
By: Chiu Po-sheng and Frances Huang

Taipei, Oct. 15 (CNA) The National Financial Stabilization Fund made a profit of about NT$1.2 billion (US$37.85 million) after disposing of shares it bought in the local equity market during its intervention from August 2015 to April 2016, according to statistics released by the Ministry of Finance (MOF).

During the intervention, the fund spent NT$19.658 billion buying shares in a bid to counteract negative impacts on the equity market, the data showed.

By Sept. 21, 2016, the stabilization fund had sold the shares it bought in 29 large-cap stocks from Aug. 25, 2015 to April 12, 2016. The net profit of NT$1.21 billion represented a 6.16 percent return on its investment.

The NT$500 billion stabilization fund was set up by the government to serve as a buffer against unexpected external factors disrupting the local bourse.    [FULL  STORY]

Taiwan could report export order growth for 2nd straight month

Taiwan News
Date: 2016-10-15 06:40 PM
By: Huang Chiao-wen and Frances Huang, Central News Agency

Taipei, Oct. 15 (CNA) Taiwan is expected to report a year-on-year increase in monthly export orders for the second consecutive month in September, largely on the back of the launch of Apple Inc.’s latest iPhone models, the Ministry of Economic Affairs (MOEA) said Saturday.

The U.S. consumer electronics giant unveiled the 4.7-inch iPhone 7 and 5.5-inch iPhone 7 Plus on Sept. 7, with global sales rolled out on Sept. 16. The MOEA said that the new iPhones have been well received by the market, as a result of which local suppliers to Apple have benefited from increased orders from the U.S. firm.

The ministry is scheduled to release September export order data on Oct. 20. In August, Taiwan’s export orders rose 8.3 percent year-on-year to reach US$37.93 billion, ending a 16-month falling streak caused by weak global demand. The MOEA said that the improvements in export orders in August largely came from a rebound in orders enjoyed by the electronics sector, in particular orders from Apple, which was in the process of building up inventory in preparation for the launch of the new iPhones.     [FULL  STORY]

Central bank denies exchange rate manipulation

Focus Taiwan
Date: 2016/10/15
By: Chiu Po-sheng and Romulo Huang

Taipei, Oct. 15 (CNA) Taiwan’s central bank denied Saturday that it has engaged in exchange rate 201610150020t0001manipulation, emphasizing that its job is to maintain a stable currency exchange rate for the nation.

Commenting on a report released by the United States Department of Treasury on the foreign exchange policies of its major trading partners a day earlier placing Taiwan, China, Japan, South Korea, Germany and Switzerland on a monitoring list, the central bank issued a statement that said Taiwan has a trade-oriented open economy in which imports and exports account for a high percentage of GDP.

As such, Taiwan is unable to embrace completely free exchange rate fluctuation, the nation’s monetary policy maker noted.

The central bank said that it will continue to communicate with the U.S. Department of Treasury on the operation of the foreign exchange market in Taiwan.     [FULL  STORY]