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Yen hurting machinery exports

TAIPEI: The persistent weakness in the yen might continue to drag down Taiwan’s machinery exports, the Taiwan Association of Machinery Industry said on Thursday. “Local machinery manufacturers are facing rising competition from their global peers, as well as challenges from the impact of easing monetary policies in Taiwan’s major trading partners, especially Japan,” said Wang Cheng-ching, secretary-general of the Taichung-based ... Read More »

Hon Hai raises US$1bn from bond issuance

TAIPEI: Hon Hai Precision Industry Co has raised a total of US$1 billion from corporate bonds issued in two tranches, according to a statement filed with the Taiwan Stock Exchange on Thursday. In the statement, Hon Hai said that through its fully owned subsidiary Foxconn (Far East) Ltd, it had sold US$600 million worth of five-year bonds with a 2.25 ... Read More »

Taiwan allows Canadian beef to enter its market

TAIPEI: Taiwan issued a permit Tuesday for a batch of Canadian beef to enter its market, for which sales of beef from Canada were banned until July 8 after that country was hit by mad cow disease outbreaks in February. It is the first batch of Canadian beef given the green light to enter Taiwan since the ban was lifted. ... Read More »

Nanya posts best revenue of year as demand lingers

TAIPEI: DRAM chipmaker Nanya Technology Corp yesterday said its received its highest monthly revenue of the year last month on the back of continuing demand. Revenue climbed 6.46 percent to NT$3.46 billion (US$110.15 million) from July’s NT$3.25 billion, the chipmaker said, attributing the growth to a price rebound of 3 percent and a 5 percent increase in shipments. However, the ... Read More »

Taiwan to cut multinational employers tax burden

TAIPEI: Taiwan is set to revise tax rules with plans to cut income tax for foreign professionals and ease their multinational employers’ tax burden, the Cabinet said. According to Kao Shien-quey, deputy minister of the Cabinet’s National Development Council, the government has identified 27 priority areas for policy changes to attract more foreign professionals to Taiwan. She said Sept. 1 ... Read More »

Decline in PC shipments to ease next year: MIC

TAIPEI: The decline in shipments by Taiwanese contract PC makers will slow next year, aided by potential replacement demand and weakening competition from Chinese rivals, the Market Intelligence and Consulting Institute said yesterday. Notebook computer shipments are forecast to contract by 1.9 percent next year following an annual decline of 8 percent this year, while the decline in desktop computer ... Read More »

Taiwan’s steel imports decrease 28% during 1H 2016

TAIPEI: According to Taiwan Trade Statistics, the country’s scrap steel imports dropped sharply during the initial six-month period of the current year. The imports during the month of June rebounded when matched with the previous year. Trade participants expect the momentum to sustain in the forthcoming months. Taiwan’s scrap steel imports surged higher by 23.7% year-on-year to 364,000 tons in ... Read More »

Taiwanese convenience store growth at six-year low; average spending up

TAIPEI: The pace of growth in the number of convenience stores in Taiwan last year fell to its lowest in six years, the Fair Trade Commission said. The five leading convenience store chains in Taiwan — 7-Eleven, FamilyMart, Hi-Life, OK Mart and Million — opened 53 new outlets last year, an increase of 0.52 percent from a year earlier, the ... Read More »

Industrial output falls short of government forecasts

TAIPEI: he nation’s industrial output last month contracted 0.31 percent annually, falling short of the government’s expectation as lackluster demand for Apple Inc’s iPhones curtailed camera lens orders, the Ministry of Economic Affairs said yesterday. A setback in the housing sector also dragged down overall output. The ministry expected industrial output to grow for a third straight month. However, the ... Read More »

Science parks revenue decrease 4.89% during 1H in Taiwan

TAIPEI: Taiwan’s three major science-based industrial parks, home to the country’s mainstay semiconductor and electronics industries, reported a 4.89 percent year-on-year decline in revenue in the first half of the year, the Ministry of Science and Technology (MOST) said Wednesday. Production revenue at the three parks totaled NT$1.078 trillion (US$34.2 billion) in the first six months of this year, down ... Read More »

Taiwan’s company net loss $334m in 1H

TAIPEI: In the second quarter, the Taipei-listed PV cell and module producer posted a net loss of NT$826 million and an operating loss of NT$991 million, on revenue of NT$4.504 billion. It partly attributed the losses to ongoing efforts to raise production at its plant in Malaysia. It expects to wrap up this transition in the third quarter. The Taiwanese ... Read More »

Taiwan’s revenue increases 13.02% in July: Foxconn Technology

TAIPEI: Foxconn Technology has reported consolidated revenues of NT$6.86 billion (US$218.59 million) for July 2016, representing a 13.02% increase on month and 5.31% decline on year. Accumulated 2016 revenues through July totaled NT$43.684 billion, down 22.48% from a year earlier. The company posted net profits of NT$5.855 billion in the first half of 2016, increasing 246% from the same period ... Read More »

Paiho sales increase 8.2% on demand for VR elastics

TAIPEI: Taiwan Paiho Ltd, which supplies shoelaces and elastic tape, saw sales increase 8.2 percent annually to NT$753 million (USD$24.04 million) last month, driven by demand for elastic items related to virtual reality (VR) equipment. In the first seven months of the year, combined sales totaled NT$5.95 billion, an increase of 13.82 percent year-on-year, the sports goods and apparel accessories ... Read More »

Cheng Shin shares fall

YUANLIN: Tire maker Cheng Shin Rubber Industry Co yesterday saw its shares drop 4.53 percent after reporting a weaker-than-expected earnings for last quarter. Net profit fell 0.86 percent to NT$3.99 billion in the second quarter from the first quarter, because of higher marketing, and research and development expenses. Earnings per share were NT$1.23, with gross margin of 32.92 percent, the ... Read More »

Taiwan’s customs arrested man involved in smuggling

TAIPEI: Customs officers have intercepted a Taiwanese passenger who was trying to smuggle 4,050 grams of methamphetamine out of Taiwan, Taipei Customs said Tuesday. The customs officers found the methamphetamine in the check-in luggage of the passenger, identified only by his surname Pa. He was scheduled to take a flight to Sydney from Taiwan Taoyuan International Airport. Pa was taken ... Read More »

Taiwan’s customs seized 2,468 kilograms drugs during 1H

TAIPEI: Taiwan’s customs officers seized 2,468.82 kilograms of illegal drugs in the first half of 2016, compared with 2,900.54 kg seized in the same period last year, the Customs Administration said Sunday. In a report, the Customs said it carried out 190 drug busts in first half of this year, a 6.74 percent increase year-on-year. The drugs seized included 12.23 ... Read More »

Ministries of finance, interior to adjust property taxes

TAIPEI: The Ministry of the Interior and the Ministry of Finance plan to join hands and adjust the calculation mechanism for housing and land taxes to make them more accurate and reasonable with the aid of real-price transaction data. The move could lead to a steep increase in land and house taxes currently based on government-assessed values, which are much ... Read More »

Exports see smallest drop in 17 months

TAIPEI: Exports contracted by 2.1 percent annually to US$22.89 billion last month, the smallest decline in 17 months, as demand for technology products gained traction while non-technology exports remained weak, the Ministry of Finance said yesterday. Trade figures might return to positive territory this month, ending 17 consecutive months of declines, as demand spurred by inventory-building looks healthy and sustainable ... Read More »

Manufacturers optimistic over coming high season

TAIPEI: The nation’s official manufacturing purchasing managers’ index (PMI) came in at 53.3 last month, settling above the neutral mark for the fourth straight month, as operating conditions continued to improve thanks to the approaching high-sales season for technology products, the Chung-Hua Institution for Economic Research (CIER) said yesterday. The data showed a marginal decline of 1.6 points from May’s ... Read More »

Number of IPOs increases despite global slowdown

TAIPEI: Initial public offering (IPO) activity in Taiwan in the first half of this year was unfazed by the sluggish global economy, with five more IPOs taking place compared with the same period last year, according to a report issued by Ernst and Young Taiwan last week. The local capital market has seen a total of 27 IPO deals so ... Read More »