Business and Finance

Fuel prices in Taiwan drop amid crude price fluctuations

Want China Times
Date: 2015-08-31
By: CNA

Gasoline prices in Taiwan will move lower by NT$0.7 (US$0.022) per liter, while diesel prices

A scooter is filled at a CPC gas station in Taipei, Aug. 30. (File photo/Kuo Chi-chuan)

A scooter is filled at a CPC gas station in Taipei, Aug. 30. (File photo/Kuo Chi-chuan)

will be cut by NT$0.8 (US$0.02) per liter starting midnight Sunday, according to the state-owned CPC Corp, Taiwan.

International oil prices have seen vigorous fluctuations over the past week, with first a sharp fall recorded due to concerns over a slowdown of China’s economy, followed by a rebound thanks to Beijing’s monetary policy easing and US economic growth, the company said.

The overall drop in oil prices was still substantially greater than the rebound on average during the week, it added.

After the planned adjustment, prices at the pump will fall to NT$20.1 (US$0.61) per liter for super diesel, NT$22.4 (US$0.68) per liter for 92 octane unleaded gasoline, NT$23.9 (US$0.73) per liter for 95 octane unleaded gasoline and NT$25.9 (US$0.79) per liter for 98 octane unleaded gasoline.     [FULL  STORY]

Short-selling ban could be lifted

‘EXCESSIVE’:The nation has too many financial institutions and smaller entities need help to consolidate the sector, THE Financial Supervisory Commission Chairman said

Taipei Times
Date: Sep 01, 2015
By: Ted Chen  /  Staff reporter

Financial Supervisory Commission (FSC) Chairman William Tseng (曾銘宗) yesterday said that the commission will not rule out lifting a ban on the short-selling of stocks at less than the previous day’s closing prices, as the local stock market is regaining strength.

However, Tseng said that a few more days of observation is needed before scrapping the ban, depending on the TAIEX’s trading prices and turnout.

“The ideal turnover is about NT$12 billion [US$365.74 million] per day,” Tseng said.     [FULL  STORY]

Shin Kong shares could plateau

INSURING PROFIT:Forecasts for the insurance business next year show weak short-term growth, while the firm is to incur costs shifting its product focus to regular-paid policies

Taipei Times
Date:  Aug 31, 2015
By: Ted Chen  /  Staff reporter

CIMB Securities Ltd has advised investors to put a hold on Shin Kong Financial Holding Co (新光金控) shares amid concerns over the company’s looming uncertainty and mediocre expectations on earnings through 2017.

“Uncertainties include potential new business strain, higher hedging costs, tapering credit cycle and stagnating net interest margin,” Taipei-based CIMB Securities analyst Nora Hou (侯乃鳳) said on Thursday.

Despite strong 848 percent year-on-year growth in the first half of the year, Shin Kong Life Insurance Co (新光人壽), the financial holding firm’s most profitable unit, has seen growth momentum in the first year premium begin to fade in the second quarter, Hou said.     [FULL  STORY]

Domestic fuel prices plummet amid crude price fluctuations

Focus Taiwan
Date: 2015/08/30
By: Milly Lin and Elizabeth Hsu

Taipei, Aug. 30 (CNA) Gasoline prices in Taiwan will move lower by NT$0.7 (US$0.022) per 201508300017t0003liter, while diesel prices will be cut by NT$0.8 per liter, starting midnight Sunday, according to the state-owned CPC Corp., Taiwan (中油).

International oil prices have experienced vigorous fluctuations over the past week, with first a sharp fall being recorded due to concerns over a slowdown of China’s economy, the second-largest in the world, and then a rebound thanks to Beijing’s monetary policy easing and the economic growth of the United States, the company said.

The overall drop in oil prices was still substantially greater than the rebound on average during the week, it added.     [FULL  STORY]

SPIL-Hon Hai pact could fend off ASE

VERTICAL INTEGRATION:A SPIL-Hon Hai partnership has the potential to create an international powerhouse business, rivaling technology manufacturer ASE, analysts said

Taipei Times
Date:  Aug 31, 2015
By: Lisa Wang  /  Staff reporter

Siliconware Precision Industry Co’s (SPIL, 矽品精密) plans to partner with Hon Hai Precision Industry Co (鴻海精密) is expected to defend SPIL against as a hostile takeover bid from rival Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), analysts said.

The two companies’ strategic alliance would expand SPIL’s presence in the fast-growing system-in-a-package (SiP) business, a potential threat to ASE’s touch controller SiP module and camera SiP module businesses, they said.

“We see this equity swap as a powerful move for SPIL as a way to defend its operation and cope with a potential hostile takeover bid,” Daiwa Capital Markets analyst Rick Hsu (徐稦成) said on Friday.     [FULL  STORY]

Taiwan’s confidence in equity market down sharply: survey

Focus Taiwan
Date: 2015/08/29
By: Tien Yu-pin and Frances Huang

Taipei, Aug. 29 (CNA) Taiwanese investors’ confidence in the equity market fell sharply amid 201508290014t0001lingering concerns over the economic climate at home and abroad and due to a shock resulting from recent volatility in the global financial markets, according to a survey released by J.P. Morgan Asset Management.

The survey showed that the equity investment index in Taiwan fell 24.7 points from a quarter earlier to 81.7 in the third quarter, the lowest level since J.P Morgan Asset Management started such a survey in July 2004.

The weighted index on the Taiwan Stock Exchange hit a 2015 high of 9,973.12 points on April 27. But since then, the local main board has started trending lower amid worries over the debt problems in the eurozone and fears of an interest hike by the U.S. Federal Reserve.     [FULL  STORY]

New ZenFone models well-received: vendor

Want China Times
Date: 2015-08-29
By: CNA

Asustek Computer, a Taiwan-based PC vendor, said on Friday its new generation ZenFone

The ASUS ZenFone 2. (Photo/China Times)

The ASUS ZenFone 2. (Photo/China Times)

smartphone series has received a good market response after being launched the previous day.

The company said it has received orders for 600,000 units of smartphones, with the orders to be filled by the end of this year and roughly two-thirds of them are for the new ZenFone 2 Laser model.

The other units are mainly the ZenFone Selfie and ZenFone 2 Deluxe models, it said.

The new ZenFone series features numerous functions. For instance, ZenFone Selfie lauds embellishing photos with different photographic modes.     [FULL  STORY]

Digital Domain appoints HTC’s Chou to leadership

KEEPING HIS HTC JOB:The Future Development Lab head is to start tomorrow and hold the position until the next general meeting, when he can be re-elected

Taipei Times
Date:  Aug 30, 2015
By: Staff writer, with CNA

Peter Chou (周永明), head of smartphone vendor HTC Corp’s (宏達電) Future Development Lab, has been appointed executive director of Hong Kong-listed Digital Domain Holdings Ltd (數字王國).

Digital Domain is engaged in a wide range of businesses, including media entertainment, digital visual special effects, coproduction of movies, property investment and development and trading.

On its Web site, Digital Domain states that it has delivered innovative visuals for more than 100 movies, including Iron Man 3, the Transformers series and Titanic.     [FULL  STORY]

Taiwan and Vietnam to start talks on new investment agreement

Focus Taiwan
Date: 2015/08/28
By C.W. Huang and Lillian Lin

Taipei, Aug. 28 (CNA) Vietnam has agreed to start talks on a new Taiwan-Vietnam Bilateral

Shen Jong-chin (in blue shirt, CNA file photo)

Shen Jong-chin (in blue shirt, CNA file photo)

Investment Agreement (BIA) to provide more protection for Taiwanese businessmen investing in the Southeast Asian country, a spokesman of the Ministry of Economic Affairs said Friday.

The spokesman said that Vietnam is the top destination of Taiwanese businesses making investments in countries of the Association of Southeast Asian Nations.

Even after the anti-China riots in May 2014, Taiwanese business people did not leave Vietnam. However, the existing Taiwan-Vietnam investment agreement signed in 1993 is not sufficient to provide adequate protection to the investors, according to the spokesman.     [FULL  STORY]

Taiwan wins big at IFTDO event in Kuala Lumpur

Want China Times
Date: 2015-08-28
By: CNA

Taiwan emerged as the top winner of the human resource development competition organized

Delegates from Taiwan at the 44th IFTDO in Kuala Lumpur, Aug. 27. (Photo/CNA)

Delegates from Taiwan at the 44th IFTDO in Kuala Lumpur, Aug. 27. (Photo/CNA)

by the International Federation of Training and Development Organizations (IFTDO) in Kuala Lumpur, Malaysia, Thursday by gaining six awards.

The 44th World Conference and Exhibition, organized by IFTDO from Aug 24-27, with 18 countries submitting 38 human resource development projects in the competition.

Taiwan won six of the 18 awards–the most among the competing countries–with pieces from National Academy of Civil Service (NACS), the Talent Development Institute for Local Government, the Workforce Development Agency, Tainan City government and Cathay Bank, according to Lee Chung-cheng, leader of the Taiwan delegation to the event.

The NACS’ project that recruits voluntary retired public servants to provide guidance and assistance to the trainees who intend to be public servants, won the award of Improved Quality of Working Life.     [FULL  STORY]