Business and Finance

Taiwan courts tech start-ups to drive economic growth

InterAksyon
Date: July 13, 2015
By: J.R. Wu, Reuters

TAIPEI — Companies such as electric motor scooter firm Gogoro could hold the key to

A mechanic examines a Gogoro Smartscooter which is connected to a tablet, in its shop in Taipei, Taiwan. Reuters file photo

A mechanic examines a Gogoro Smartscooter which is connected to a tablet, in its shop in Taipei, Taiwan. Reuters file photo

Taiwan’s economic growth.

In just three years, the start-up, which counts Japan’s Panasonic Corp as a strategic partner and Cher Wang, the founder of local smartphone maker HTC Corp as a key investor, raised $150 million to develop the smartphone-synched bike, and a charging network for it. The Smartscooters went on sale last month, starting at around $4,100.

Gogoro’s success in creating a home-grown, innovative product is precisely what Taiwan’s government wants to foster as it seeks to reduce the export-driven economy’s reliance on the island’s world-class tech manufacturing sector.     [FULL  STORY]

Tigerair to launch daily Kaohsiung-Tokyo flight

Taiwan News
Central News Agency
Date: 2015-07-13

Taipei, July 13 (CNA) Tigerair Taiwan, a joint venture between Taiwan’s China Airlines and Singapore’s Tiger Airways, said Monday it will launch flights between Kaohsiung in southern Taiwan and Tokyo (Narita) on Sept. 1 to capitalize on increasing interest in travel between Taiwan and Japan. The new daily flight will depart Kaohsiung at 3:20 p.m. and leave from Tokyo on the return leg at 12:10 p.m. (Japan time), the airline said. Tokyo will be Tigerair Taiwan’s third international destination from Kaohsiung, after the budget carrier launched flights from the southern Taiwan city to Macau last December and to Osaka earlier this month. (By Lee Hsin-Yin)

NDC approves 2016 budgets for major public works projects

Focus Taiwan
Date: 2015/07/13
By: Chen Cheng-wei and Romulo Huang

Taipei, July 13 (CNA) The National Development Council (NDC) approved the 2016 201507130027t0001budgets for 199 major infrastructure projects at a meeting Monday, according to an NDC statement.

The meeting reviewed a series of plans for the 199 projects presented by different government agencies and agreed to commit the government to invest NT$177.24 billion (US$5.7 billion) in those projects next year.

The proposal will be presented to the Cabinet for its approval before being referred to the Legislative Yuan by the end of this year.     [FULL  STORY]

Central bank strongly objects to SWF

NOT PLAYING:The central bank said that unlike foreign exchange reserve management, SWFs entail high risk, and that any SWF would have to buy its currencies on the market

Taipei Times
Date: Jul 14, 2015
By: Crystal Hsu  /  Staff reporter

The central bank yesterday voiced objections to a proposal to turn foreign exchange reserves into a sovereign wealth fund (SWF) aimed at stimulating the nation’s economy.

Academics have advised Premier Mao Chi-kuo (毛治國) to establish an SWF using foreign exchange reserves to generate higher returns that would benefit the economy as a whole.

“If an SWF is necessary, the government should first seek to pass a law for its establishment, management and oversight so it can operate legally,” the central bank said in a statement.     [FULL  STORY]

Halifax’s tofu maker brought Taiwan to Canada

CBC News
Date: Jul 12, 2015

Pay Chen remembers eating the tofu fresh and warm from the mould.

Food writer, Pay Chen can remember her parents working long hours for little pay when

Pay Chen remembers eating the tofu fresh and warm from the mould.

Pay Chen remembers eating the tofu fresh and warm from the mould.

they moved to Canada from Taiwan.

She also remembers how hard her parents worked for very little pay. But she also remembers there always being food for her and her brother to eat, especially tofu.

“I do have memories of my dad bringing it fresh and it still being warm that’s something that most people won’t get to experience is having it just out of the mold … being able to eat it warm with soy sauce, garlic or green onion,” said Chen.

Tofu has become a staple in the refrigerators of many Maritimers6:42

They found it difficult to find the flavours from home when they moved to Halifax.     [FULL  STORY]

Analysts see bumper Q3 for Catcher

UPWARD REVISION:Catcher concurs with market observers and has raised its forecast for this quarter to growth, from its previous estimates that sales would remain flattish

Taipei Times
Date:  Jul 13, 2015
By: Lauly Li  /  Staff reporter

Metal casing supplier Catcher Technology Co (可成科技) might post an even better sales performance this quarter after seeing record-high revenue last quarter, analysts said last week, citing the company’s increased market share in the smartphone segment and limited competition.

“We see Catcher’s sales growing by 7 percent this quarter from last quarter,” HSBC Securities Taiwan Corp analyst Carrie Liu said in a report on Monday last week.     [FULL  STORY]

Promoting Made-In-Taiwan with pop up stores

Focus Taiwan
Date: 2015/07/12
By: Elizabeth Hsu

Taipei, July 12 (CNA) As part of its efforts to boost exports, Taiwan has come up with

CDRI staff Kang Keng-fu introduces MIT products at Wow! Taiwan Selects pup pop store in Jakarta. Photo courtesy of the think tank

CDRI staff Kang Keng-fu introduces MIT products at Wow! Taiwan Selects pup pop store in Jakarta. Photo courtesy of the think tank

an innovative way to promote Made-In-Taiwan (MIT) products in emerging markets upon discovering that a sale within a limited period of time — the increasingly popular “pop-up” model — can rouse consumers’ urge to shop.

The “Wow! Taiwan Selects” pop-up store, commissioned by the Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs, opened in Jakarta, Indonesia in late June to a warm response from consumers there who snapped up specialty products from Taiwan, according to the Taipei-based Commerce Development Research Institute (CDRI), a national-level think tank in services research.

The pop-up store, which remained open for only one week from June 22-28, featured “a fusion of technology, entertainment and trendy design elements,” with MIT products packaged to highlight “Taiwan’s unique lifestyle,” the CDRI said in a statement.     [FULL  STORY]

Taiwan to propose economic cooperation pact with Australia

Taiwan News
Date: 2015-07-12
By: Central News Agency

Taipei, July 12 (CNA) Taiwan will express the idea of signing an economic cooperation agreement (ECA) with Australia at an upcoming vice ministerial-level trade and economic meeting between the two nations in Taipei, according to sources from the Ministry of Economic Affairs (MOEA). Taiwan previously presented such a proposal after the signing of the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation (ANZTEC) in July 2013, the sources revealed. Australia turned down that proposal, saying that it lacked the manpower to handle the issue because at the time it was negotiating with China over a free trade agreement (FTA), the sources said.      [FULL  STORY]

Taiwan investors warned of potential Chinese stock conflict of interest

Want China Times
Date: 2015-07-11
By: Wei Chiao-yi and Staff Reporter

Investment trust companies in Taiwan have been reminded by regulators of the

Lin Hung-li, chairman of Taiwan's Securities Investment Trust & Consulting Association, July 3. (Photo/Hung His-lung)

Lin Hung-li, chairman of Taiwan’s Securities Investment Trust & Consulting Association, July 3. (Photo/Hung His-lung)

potential conflict of interests they may face redeeming Chinese-themed funds, given the volatility of Chinese stock markets.

Taiwan’s Securities Investment Trust and Consulting Association (SITCA) issued the notice on July 9 to the group’s 37 investment trust company members at the behest of the Financial Supervisory Commission (FSC).

According to the FSC’s Securities and Futures Bureau, insiders in investment trust companies will face a potential conflict of interest after suspended stocks in China resume trading and funds investing in Chinese stocks are assessed and re-valued.

Regulators fear that those insiders, including investment trust firm employees and their family members, will have inside access to information on the process leading to new fund valuations and could apply for fund redemptions ahead of general investors.

Many listed Chinese companies saw trading of their shares suspended this week after the benchmark Shanghai Composite Index plunged from a high of 5,166.35 on June 12 to below 4,000 in early July.     [FULL  STORY]

Taipower could cut electricity rates in October

Focus Taiwan
Date: 2015/07/11
By: Lin Meng-ju and Y.F. Low

Taipei, July 11 (CNA) State-run Taiwan Power Co. (Taipower) is likely to lower the 201507110013t0001country’s electricity rates in October due to its good profitability in the first half of this year, a Taipower source said Saturday.

According to Taipower, the company made a profit of NT$6.5 billion (US$209.5 million) in the first half of this year, thanks mainly to a price drop of natural gas.

Taipower President Chu Wen-chen (朱文成), however, said that the company has had to use more expensive light diesel oil to generate power because the No. 1 reactor at the first nuclear power plant has been out of service since December and private power plants have experienced several accidents.

These factors have offset the decline in natural gas prices, Chu said.     [FULL  STORY]