Business and Finance

Semiconductors drive rise in exports

DEPENDENCY?Shipments of electronics components rose 14.8% last month, while all other categories fell, indicating that a few sectors were carrying most of the weight

Taipei Times
Date: Sep 08, 2016
By: Crystal Hsu / Staff reporter

The nation’s exports grew 1 percent from a year earlier to US$24.66 billion last month, rising for two months running, led by robust demand for electronics components, particularly semiconductors used in smartphones and Internet of Things (IoT) applications, the Ministry of Finance said yesterday.

The growth momentum might continue this month and beyond as major technology firms step up capital spending to meet demand from customers, the ministry said.

“The marginal increase in the latest trade data reflects the recovery [in the domestic economy] advancing at a snail’s pace,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.    [FULL  STORY]

Nestle, Pxmart launch back-to-school breakfast deals

The China Post
Date: September 8, 2016
By: Nestle Taiwan, Special to the China Post

TAIPEI, Taiwan — With the arrival of back-to-school season, Nestle and supermarket chain Pxmart jointly

This photo shows a healthy breakfast set designed by nutritionist Chen Hsiang-ying (陳湘穎), incorporating the featured Nestle back-to-school breakfast package. Nestle and Pxmart's "Eat Breakfast at Home" discount event starts today and ends on Sept. 22. (Photo courtesy of Nestle Taiwan)

This photo shows a healthy breakfast set designed by nutritionist Chen Hsiang-ying (陳湘穎), incorporating the featured Nestle back-to-school breakfast package. Nestle and Pxmart’s “Eat Breakfast at Home” discount event starts today and ends on Sept. 22.
(Photo courtesy of Nestle Taiwan)

present discounts on a range of breakfast items, including brands such as KLIM, Milo and Nescafe Gold.

Nestle and Pxmart’s “Eat Breakfast at Home” discount period extends from today to Sept. 22, highlighting a breakfast package — which includes products from all three brands — that will meet the nutritional needs of the whole family.

Nutritionist Chen Hsiang-ying (陳湘穎) paired fresh ingredients and fruits with the breakfast package to create three types of breakfast sets: the energy booster, the low-calorie slim set and the brain power calcium meal.

The breakfast package is sold at NT$179 per set over the discount period. The non-discounted price is NT$253.

If purchases exceed NT$499, customers can enjoy another discount of NT$30.

Chen said people today often skip breakfast either because they are too busy or are dieting and think that eating less would result in a lower calorie intake.     [FULL  STORY]

HTC revenue for last month disappoints

IMPLAUSIBLE:Given its performance last month, and waning interest in the HTC 10, it is unlikely the firm’s smartphone business will break even this quarter, analysts said

Taipei Times
Date: Sep 07, 2016
By: Lauly Li / Staff reporter

HTC Corp (宏達電) yesterday posted weaker-than-expected revenue for last month, marking the company’s 17th consecutive month of year-on-year declines and putting the firm’s hopes of its smartphone business breaking even this quarter into doubt.

The firm posted revenue of NT$6.58 billion (US$209.47 million) last month, representing a 4.51 percent contraction from NT$6.88 billion in the same period last year, according to the firm’s filing with the Taiwan Stock Exchange.

However, the figure is a 4.12 percent increase from July’s NT$6.31 billion, the filing showed.     [FULL  STORY]

U.S. dollar closes lower on Taipei forex

Taiwan News
Date: 2016-09-06
By: Y.F. Low, Central News Agency

Taipei, Sept. 6 (CNA) The U.S. dollar fell against the Taiwan dollar Tuesday, shedding NT$0.094 to close at NT$31.412.
Turnover totaled US$812 million during the trading session. The greenback opened at NT$31.470, and moved between NT$31.345 and NT$31.470 before the close.     [SOURCE]

Hiring outlook for October optimistic: survey

Focus Taiwan
Date: 2016/09/06
By: Yu Hsiao-han and Lilian Wu

Taipei, Sept. 6 (CNA) Demand for workers in Taiwan will increase by 24,600 in October compared with 201609060019t0001July, according to a survey published by the Ministry of Labor (MOL) on Tuesday.

The poll showed that 19.46 percent of businesses with 30 or more employees plan to increase hiring at the end of October, while 4.87 percent intend to cut jobs.

The number of new employees at the end of October will be 38,700, while 14,100 jobs will be cut, resulting in a net increase of 24,600, according to the survey.

Some food and beverage, leisure, and entertainment businesses will cut staff in October as the warm weather and peak tourism season end, and also because of the slow recovery of the global economy, the MOL said.     [FULL  STORY]

Officials seize Bai Chi Gan Tou assets

GETTING PERSONAL:The seized assets include Bai Chi representative Yoshiaki Kashino’s 14.1% stake in XPEC, which was worth NT$984 million based on the stock’s closing price

Taipei Times
Date: Sep 07, 2016
By: Lauly Li / Staff reporter

The Securities and Futures Investors Protection Center has seized Japanese company Bai Chi Gan Tou Digital Entertainment Co’s (百尺竿頭) assets in Taiwan, as part of its efforts to protect investors’ interests, the Financial Supervisory Commission (FSC) said yesterday.

“We have the Japanese company’s assets in hand. We will not let investors lose their life savings over this incident,” FSC Chairman Ding Kung-wha (丁克華) told reporters on the sidelines of a forum in Taipei.

Ding’s comments came after shares of game developer XPEC Entertainment Inc (樂陞科技) yesterday plunged by the 10 percent daily limit for the fifth consecutive trading session, after Bai Chi on Tuesday last week abandoned its planned acquisition of a 25.7 percent stake in XPEC that was worth NT$4.68 billion (US$148.99 million), or 38 million shares at NT$128 per share.

XPEC’s stock closed at NT$46.2 per share, the lowest price since July 10, 2012, da     [FULL  STORY]

CPC sells half of oil exploration project in Chad to China firm

Taiwan News
Date: 2016-09-05
By: Huang Li-yun and Frances Huang, Central News Agency

Taipei, Sept. 5 (CNA) CPC Corp., Taiwan, the state-owned oil supplier, has handed over half of its oil exploration project in Chad to China CEFC Energy Co. in a bid to reduce possible risks associated with the project and lower the Taiwanese firm’s financial burden.

According to the transfer agreement between CPC and China CEFC Energy, the Chinese firm spent US$114 million to take over 35 percent of the oil exploration rights to the Chad project from the Taiwanese oil supplier.

After the transaction, CPC now owns 35 percent and China CEFC Energy has gained an additional 35 percent of the exploration rights to the Chad project, while the African country still keeps the remaining 30 percent, the Taiwanese oil firm said.

Chad is one of the major oil-producing countries in Africa. CPC began to seek oil exploration deals in Chad in 2003.     [FULL  STORY]

Taiwan forex reserves set new record in August

Focus Taiwan
Date: 2016/09/05
By: Chiu Po-sheng and Romulo Huang

Taipei, Sept. 5 (CNA) Taiwan’s foreign exchange reserves set a new record at the end of August thanks 201609050032t0001to an increase in investment returns from the central bank’s management of the assets in the month, the bank said Monday.

As of the end of August, Taiwan’s foreign exchange reserves totaled US$435.86 billion, up US$1.78 billion from a month earlier, marking the seventh consecutive month for the country to report a new high in its forex reserves, it said.

The bank attributed the increase in foreign exchange reserves in August mainly to returns from foreign exchange reserves management and the appreciation of the euro and other reserve currencies against the U.S. dollar.

“Foreign exchange reserves denominated in these currencies were worth more in terms of the base currency, the U.S. dollar,” it noted.     [FULL  STORY]

Ghost Month dampens housing sales

lACKLUSTER:All six municipalities except Tainan reported declines in housing sales last month, fueling concern that transactions this year could drop to a record low

Taipei Times
Date: Sep 06, 2016
By: Crystal Hsu / Staff reporter

Housing transactions in the nation’s six special municipalities last month fell 14.5 percent from July, as the lunar Ghost Month dampened buying interest, analysts said.

Housing sales in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung totaled 15,170 units last month, as prospective buyers shunned the market, Taiwan Realty Co (台灣房屋) said.

“While the month-on-month retreat is normal during this time of the year, expectations of a price fall exacerbated the situation,” Taiwan Realty analyst Yeh Li-ming (葉立敏) said.

Most Taiwanese avoid activities such as moving into a new house, starting a new business or getting married during the seventh month of the lunar calendar.     [FULL  STORY]

China agrees on steps to reduce steel exports

The China Post
Date: September 6, 2016
By: Joe McDonald ,AP

HANGZHOU, China — China agreed to steps toward reducing its politically volatile steel exports but

Russian President Vladimir Putin, sixth left, meets with Chinese President Xi Jinping, seventh right, in Hangzhou, China, Sunday, Sept. 4, 2016, ahead of the G20 Leaders Summit. (Alexei Druzhinin/Pool Photo via AP)

Russian President Vladimir Putin, sixth left, meets with Chinese President Xi Jinping, seventh right, in Hangzhou, China, Sunday, Sept. 4, 2016, ahead of the G20 Leaders Summit. (Alexei Druzhinin/Pool Photo via AP)

avoided binding limits as leaders of major economies ended a summit Monday with a forceful endorsement of free trade and a crowded agenda that included the Koreas, Syria and refugees.

In a joint statement, President Barack Obama and Chinese President Xi Jinping and the leaders of Britain, Japan, Russia and other Group of 20 economies pledged to boost sluggish global growth by promoting innovation and to strengthen the global financial system.

In an effort to shore up public support for trade, they promised “inclusive growth” to spread the benefits of closer global integration more widely to millions of people who have been left behind by wrenching change. The pledge reflected a growing recognition that economic strains are fueling political tensions and a growing clamor to protect local industries.

Chinese leaders hope the two-day meeting will increase their influence in managing the global economy.     [FULL  STORY]