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Taiwan

Taiwan’s economy continues to show stable growth in Feb

TAIWAN

TAIPEI: Taiwan’s economy flashed a green light in February, signaling stable growth for the eighth consecutive month, the National Development Council (NDC) said on Monday. The composite indicator for February dropped 1 point from a month earlier to 28, the council said. The NDC uses a five-color system to gauge the country’s economic performance, with blue indicating economic recession, yellow-blue ... Read More »

American arrested for allegedly smuggling drugs into Taiwan

TAIWAN

TAIPEI: An American man was arrested at Taiwan Taoyuan International Airport Thursday when he was found to have 10 packages of drugs in his carry-on baggage as he arrived in the country, according to aviation police. A total of 10 packs of marijuana, classed as a class-2 narcotic in Taiwan’s four-category classification for narcotics, were found in his luggage, the ... Read More »

Day trading transaction tax cut expected to take effect late April

TAIWAN

TAIPEI: A cut in the transaction tax for day trading is expected to go into effect in late April at the earliest, on hopes that the eased financial burden shouldered by equity investors will boost turnover on the broader market, the Ministry of Finance (MOF) said Thursday. The expected implementation timetable was announced by the MOF after the Legislative Yuan ... Read More »

China-Taiwan trade slips 0.7% in 2016

trade

BEIJING: Trade between Taiwan and China fell 0.7 percent in 2016 from the previous year, according to a Mainland Affairs Council (MAC) report released Monday. The report says, based on Taiwan customs statistics, that bilateral trade in 2016 was valued at NT$117.9 billion (US$3.86 billion). Despite overall trade declining in the year, the data showed that Taiwan’s exports to China ... Read More »

Cathay Financial raises Taiwan’s 2017 GDP forecast

TAIWAN

TAIPEI: Cathay Financial Holding Co. one of the leading financial holding firms in Taiwan, has raised its forecast of Taiwan’s gross domestic product (GDP) for 2017 to 2.1 percent, citing an improvement in exports amid recovering global demand. Cathay Financial said that Taiwan’s GDP is expected to grow 2.1 percent in 2017, up from a December forecast of a 1.5 ... Read More »

Taiwani government may ease water costs

TAIWAN

TEIPEI: The Water Resources Agency is to negotiate with the Taipei Water Department and Taiwan Water Corp  today over the department’s selling prices to Taiwater in an effort to lower the state-run water company’s purchasing costs, the Ministry of Economic Affairs said yesterday. “We hope the two parties can reach a consensus over the price as soon as possible. The ... Read More »

CPC cuts fuel prices for coming week

TAIWAN

TAIPEI: State-owned CPC Corp, Taiwan yesterday announced that it will cut gasoline prices by NT$0.3 and diesel prices by NT$0.4 per liter today following a sharp drop last week in international crude oil prices. CPC said its average crude oil costs last week dropped US$1.58 per barrel to US$543.14 from the previous week after international prices fell following concerns about ... Read More »

Bill to reduce day-trading tax would boost turnover: FSC

TAIWAN

TAIPEI: The Financial Supervisory Commission (FSC) yesterday said that a proposed bill to reduce tax on day-trading transactions would boost average daily turnover on the local bourse by NT$25 billion (US$805.93 million). The estimate was given by FSC Chairman Lee Ruey-tsang at a meeting of the Legislative Yuan’s Finance Committee. Halving the tax from 0.003 percent to 0.0015 percent would ... Read More »

Fitch: Taiwan household debt to drag on growth, bank profiles

TAIWAN

TAIPEI: Taiwan’s high household leverage and rising debt-servicing pressures are likely to constrain economic growth and act as a headwind to further improvements in the financial profiles of Taiwanese banks, says Fitch Ratings. Risks to broader financial stability are mitigated by high household assets and strong collateralisation. Fitch expects household debt to rise modestly to 84% of GDP in 2017-2018, ... Read More »

HTC revenue rebounds in February

TIAWAN

TAIPEI: Taiwan-based smartphone vendor HTC’s revenue in February increased 11 per cent from a year ago to TWD4.67 billion ($152 million) – rebounding from nearly a 30 per cent year-on-year drop in January. However, revenue for the first two months of the year was down 11.6 per cent to TWD9.33 billion. HTC last month said its focus for 2017 is ... Read More »

Taiwanese woman arrested for drug smuggling

TAIWAN

TAIPEI: A 41-year-old woman was arrested at Taiwan Taoyuan International Airport on Saturday as she was attempting to travel to Seoul with more than 2 kilograms of amphetamine, aviation police said. The woman, who was booked on a China Airlines flight to Seoul, was dressed in bulky clothing and was found to be acting strangely during the security checks at ... Read More »

Taiwanese woman arrest at airport for drug smuggling

Taiwan Taoyuan International Airport

TAIPEI: A 41-year-old woman arrested at Taiwan Taoyuan International Airport as she was attempting to travel to Seoul with more than 2 kilograms of amphetamine, aviation police said. The woman, who was booked on a China Airlines flight to Seoul, was dressed in bulky clothing and was found to be acting strangely during the security checks at Terminal 1, the ... Read More »

Davao region imports down by 33% in Q3 2016

taiwan

TAIPEI: Imports made by Davao Region for the third quarter of 2016 decreased by 33.03 percent to 376.45 million US dollars (USD) from USD562.16 million in the same period in 2015. Among the top import commodities of the region include other medium oils and preparations at USD33.33 million, lights oils and preparations at USD19.93 million, and unbleached Kraftliner at USD19.31 ... Read More »

Crocs sees Q1 revenue below view

TAIWAN

TAIPEI: Crocs Inc. ( CROX ) said that it expects first quarter 2017 revenue to be between $255 and $265 million. Analysts polled by Thomson Reuters expected the company to report revenues of $277.77 million for the first-quarter. Analysts’ estimates typically exclude special items. The company expects gross margin for the quarter to be approximately 200 basis points higher than ... Read More »

Tsang Yow to invest NT$200m in China

TAIWAN

TAIPEI: Auto parts supplier Tsang Yow Industrial Co yesterday said it plans to invest about NT$200 million (US$6.53 million) on capacity expansion in China this year in a bid to increase its presence in the nation’s automatic transmission market. The company, which makes automotive powertrain components for global brands, is to add several laser-welding production lines at its subsidiary in ... Read More »

Star records pre-tax profit of RM146.21m

TAIWAN

TAIPEI: Star Media Group Bhd registered a profit before tax of RM146.21mil on revenue of RM932.12mil for the financial year ended Dec 31, 2016. In the preceding year, the group’s pre-tax profit and revenue were at RM170.07mil and RM1.02bil, respectively. In the fourth quarter, Star Media Group registered a pre-tax profit of RM47.52mil on a turnover of RM260.35mil. In the ... Read More »

Major Taiwan textile firm plans 1st overseas plant in Indonesia

TAIWA

TAIPEI: Lealea Enterprise Co. one of the largest polyester filament yarn and polyester chip makers in Taiwan, said Saturday it will set up its first overseas factory later this year in Indonesia. Lealea Chairman Kuo Shao-yi has made investing in Indonesia one of the company’s strategic priorities and set the goal of launching operations at the production site in the ... Read More »

Instant noodle output value rises to NT$11.5b

TAIWAN

TAIPEI: The nation’s instant noodle production value last year increased 14.6 percent year-on-year to NT$11.5 billion (US$375.2 million), the second consecutive year of annual expansion, suggesting that domestic consumers have moved on from a series of tainted oil scandals in 2014, the Ministry of Economic Affairs said yesterday. The figure also represented the second-highest production value in the instant noodle ... Read More »

Taiwan’s thermal coal imports down 2% in 2016

Thermal Coal

TAIPEI: Taiwan imported 65.32 million metric ton (mt) of thermal coal in 2016, down 2% on the year to the lowest annual volume since 2012, as shipments from Indonesia and Russia dropped, according to customs data. According to details, of the total, 64.08 million mt was bituminous coal and the remaining 1.24 million mt was sub-bituminous. Imports of Indonesian thermal ... Read More »

Citigroup to settle rand case with US$5.4m fine

TAIWAN

TAIPEI: Citigroup Inc has agreed to pay a penalty of almost 70 million rand (US$5.4 million) to settle a South African antitrust investigation that said the US bank participated in an alleged cartel to manipulate the value of the rand. Citigroup will make available witnesses to help prosecute other banks that participated in price fixing and market allocation in the ... Read More »