Business and Finance

Taiwan’s debt obligations total almost NT$24 trillion: TIER

Focus Taiwan
Date: 2015/07/14
By: Chen Cheng-wei and Frances Huang

Taipei, July 14 (CNA) Taiwan’s government debt and future government obligations have 2015071400181reached nearly NT$24 trillion (US$774 billion), which could impose a heavy financial burden on Taiwan, the Taiwan Institute of Economic Research (TIER,台灣經濟研究院) said Tuesday.

The TIER, one of Taiwan’s leading think tanks, said public debt accumulated by the central and local governments stood at NT$5.25 trillion and NT$731.2 billion, respectively, as of the end of 2014, according to Ministry of Finance statistics.

The total debt — NT$5.99 trillion — was 37.2 percent of gross domestic product in 2014, approaching the average of 40.6 percent ceiling imposed by the Public Debt Act in the previous three years before 2014, TIER President Lin Chien-fu (林建甫) told reporters.     [FULL  STORY]

FSC to relax securities borrowing, lending rules next year

Taiwan News
Date: 2015-07-15
By: Central News Agency

Taipei, July 15 (CNA) The Financial Supervisory Commission (FSC), the top financial regulator in Taiwan, said Wednesday that it will relax rules on the securities borrowing and lending (SBL) mechanism starting on Jan. 1, 2016 in a bid to further boost trading activity in the local equity market.

The current SBL system only allows retail equity investors to be the borrowers of securities from the Taiwan Stock Exchange, securities companies or other financial firms for a wide range of purposes, such as short sales and then need to return securities to lenders, the FSC said. After the relaxation, retail investors will also be eligible to lend securities to brokerages or other financial firms so the TWSE will not serve as the only securities lending source to brokerages and financial firms, the FSC said. Since the SBL mechanism will allow lending in both directions, securities supplies are expected to be raised at a time when the FSC has relaxed the rules on day trading in which investors of a given stock are allowed to buy first and sell later or sell first and buy later in a single session.     [FULL  STORY]

China Airlines grounds some flights to Japan due to typhoon

Focus Taiwan
Date: 2015/07/15
By: Lee Hsin-Yin

Taipei, July 15 (CNA) China Airlines (CAL) on Wednesday canceled and rescheduled

CNA file photo

CNA file photo

some of its flights between Taiwan and Japan this week one as Typhoon Nangka approached Japan.

The airline said two flights from Taoyuan — CI150 to Nagoya on Thursday and CI113 to Hiroshima on Friday — will be canceled due to the storm, which was taking direct aim at Japan as of Wednesday.

Flights CI178 and CI179 between Taoyuan and Takamatsu will not be in operation Thursday but rather have been rescheduled for Friday, CAL said.     [FULL  STORY]

Asustek aims to double US tablet shipments in 2015

Want China Times
Date: 2015-07-15
By: CNA

Asustek Computer aims to double its tablet computer shipments to the United States

A ZenPad during its launch at a press conference in Taipei, July 14. (File photo/CNA)

A ZenPad during its launch at a press conference in Taipei, July 14. (File photo/CNA)

this year with its low-cost ZenPad range, which went on sale Tuesday in Taiwan.

The Taiwanese PC maker has teamed up since April this year with AT&T, the second-largest US wireless carrier, to sell the MeMO Pad tablet, said Asustek vice president Samson Hu.

To make a further push into the US, an 8-inch flagship model and a 7-inch entry-level model in Asustek’s ZenPad series will go on sale later this month through US retailer Best Buy, Hu told the press at the Taiwan launch of the ZenPad range.

With the expanding distribution channels, Asustek aims to double its US tablet shipments from 1 million units last year to 2 million units this year, Hu said, adding that his company has gained more confidence in the US market with its “refreshed” strategy.     [FULL  STORY]

Taiwan’s labor force forecast to decrease 180,000 annually

Focus Taiwan
Date: 2015/07/14
By: Y.L. Wei and Lillian Lin

Taipei, July 14 (CNA) The Ministry of Labor stressed on Tuesday the urgency of i201507140036t0001ntroducing more migrant workers to Taiwan in view of a continuing decline in the labor force, which is forecast to decrease by 180,000 annually in the coming years.

A ministry spokesman said that local industries are already facing labor shortage problems, especially those in the 3D — dirty, dangerous and demeaning — sectors.

The ageing population has added to the labor force shortage problem, as an increasing number of dementia sufferers creates demand for more caregivers. A large number of the foreign workers employed in Taiwan are taking care of aged people.     [FULL  STORY]

Former head of Samsung Taiwan mobile to join Apple retailer

Want China Times
Date: 2015-07-14
By: CNA

The former head of Samsung Electronics’ information technology and mobile

Andy Tu in 2012. (File photo/Yen Chien-lung)

Andy Tu in 2012. (File photo/Yen Chien-lung)

businesses in Taiwan will take up a position with Data Express Infotech, one of Apple’s main distributors in Taiwan, a source familiar with the matter told CNA on Monday.

Andy Tu, who worked at Samsung Taiwan from 2009 to May this year, will assume the post of general manager of Data Express on Aug. 1, the source told CNA, requesting anonymity for confidentiality reasons.

Tu was also appointed Monday as a vice president of Far EasTone Telecommunications, Taiwan’s third-largest mobile carrier.     [FULL  STORY]

Inotera shares soar on bid rumor

BUYOUT:Tsinghua Unigroup, China’s largest chip design company, intends to pay US$21 a share for Micron, Inotera’s parent firm, the ‘Wall Street Journal’ reported

Taipei Times
Date: Jul 15, 2015
By: Lisa Wang  /  Staff reporter

Shares of DRAM chipmaker Inotera Memories Inc (華亞科技) rocketed 9.93 percent amid speculation that its parent company, Micron Technology Inc, has become a target of China’s state-owned Tsinghua Unigroup Ltd (清華紫光) in a buyout bid worth US$23 billion.

Shares in Inotera, which is 33 percent owned by Micron, surged to NT$22.7 yesterday, with trading volume hitting a more than two-year high at 235.79 million shares.

Inotera yesterday said it does not comment on “market rumors.”     [FULL  STORY]

Taiwan’s basic metal output down 0.56 percent in January-May

Steel Orbis
Date: 13.07.2015

Taiwan’s industrial production index in May this year remained almost stable compared to April  and was down 3.18 percent year on year, according to the country’s Ministry of Economic Affairs (MOEA). Meanwhile, Taiwan’s seasonally adjusted industrial production index in May decreased by two percent compared to the previous month and fell by 1.1 percent year on year.

In the first five months of this year, Taiwan’s seasonally adjusted industrial production index increased by 3.82 percent year on year.

In May of the current year, industrial output in the country’s basic metal manufacturing increased by 1.56 percent and output of metal product manufacturing decreased by 6.42 percent, both compared to the previous month. In addition, on year-on-year basis, in May this year the basic metal manufacturing sector remained almost stable in output and the metal product manufacturing sector saw a decrease of 1.88 percent. In the first five months, a 0.56 percent year-on-year decrease was recorded in Taiwan’s basic metal manufacturing output, while the fabricated metal product output index saw a decrease of 0.68 percent year on year.

Meanwhile, in May this year, production in Taiwan’s machinery and equipment industry increased by 0.23 percent, while output in the automotive industry rose by 16.79 percent, both year on year.     [STORY SOURCE]

Taiwan’s CSC threatens action over steel dumping by Asian competitors

Platts
Date: 13Jul2015

Taiwan’s biggest steelmaker China Steel Corp. said Monday it was gathering evidence of steel dumping by several Asian countries as it urged them to exercise self-restraint or face trade action.

“We’re collecting related information before we stand a chance [of proving the claims],” a company spokesman in Kaoshiung told Platts.

CSC alleged China, Japan, South Korea, Indonesia and India were exporting plate, hot rolled coil and bars at $96-108/mt, $88-147/mt and $50-160/mt respectively below their domestic prices for the same products, which was having a “serious impact” on Taiwan’s steel industry.

Taiwan’s biggest steelmaker China Steel Corp. said Monday it was gathering evidence of steel dumping by several Asian countries as it urged them to exercise self-restraint or face trade action.

“We’re collecting related information before we stand a chance [of proving the claims],” a company spokesman in Kaoshiung told Platts.

CSC alleged China, Japan, South Korea, Indonesia and India were exporting plate, hot rolled coil and bars at $96-108/mt, $88-147/mt and $50-160/mt respectively below their domestic prices for the same products, which was having a “serious impact” on Taiwan’s steel industry.     [FULL  STORY]

Transformers of Taiwan Wins the First Place in Robot Performance Contest

Ctimes
Date: Jul 13,2015
By: Vincent Wang

TAIPEI, Taiwan — “Transformers of Taiwan” is a team that come from Kaohsiung, which won the first place in 2015 First LEGO League (FLL) and First Tech Challenge (FTC) robot performance contest taken place in Sydney, Australia on July 12. Team members are from ESUNRA (台灣玉山機器人協會) that proves Taiwan’s leading status in robotics industry and robotics education.

First Tech Challenge (FTC) is designed for students in grades 7-12 to compete head to head, using a sports model. Teams are responsible for designing, building, and programming their robots to compete in an alliance format against other teams. The robot kit is reusable from year-to-year and is programmed using a variety of languages. Teams, including coaches, mentors and volunteers, are required to develop strategy and build robots based on sound engineering principles.

Meanwhile, awards are given for the competition as well as for community outreach, design, and other real-world accomplishments.

In First LEGO League (FLL), children are immersed in real-world science and technology challenges. Teams design their own solution to a current scientific question or problem and build autonomous LEGO robots that perform a series of missions. Through their participation, children develop valuable life skills and discover exciting career possibilities while learning that they can make a positive contribution to society.