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Taiwan’s exports of finished goods boost by MOEA project

TAIPEI: Economic Affairs Minister John Deng said Wednesday that Taiwan’s exports of finished products to five emerging markets have been significantly boosted by a trade promotion project conceived by the Ministry of Economic Affairs. The significant growth is the result of the ministry’s Project to Promote Most-Valued Products in Emerging Markets, aimed at providing good quality goods at affordable prices ... Read More »

Taiwan Customs intercepts shipment of smuggled medical materials

TAIPEI: Customs at Taiwan Taoyuan International Airport on Sunday intercepted a shipment of smuggled medical materials at Terminal 2, estimated to be worth NT$1 million (US$30,460), and charged a man in terms of the Pharmaceutical Affairs Act. Senior customs officials said the most commonly seen aesthetic medicine product being smuggled into the nation is hyaluronic acid, followed by placentas and ... Read More »

Taiwanese banks pre-tax net income rise 4.7% to $712.31m

TAIPEI: Earnings by the nation’s 39 banks last month began to stabilize, with pre-tax net income growing 4.7 percent annually to NT$23.46 billion (US$712.31 million), recovering from a 10.4 percent year-on-year slump recorded in September, Financial Supervisory Commission (FSC) data showed yesterday. The gains in earnings were primarily driven by banks’ operations abroad, with earnings of offshore banking units rising ... Read More »

Taiwan manufacturing PMI falls to 45.1 in Nov

TAIPEI: The manufacturing purchasing managers’ index (PMI) contracted to 45.1 last month, down from 46 the previous month, indicating a further deterioration in operating conditions for local manufacturers, the Chung-Hua Institution for Economic Research (CIER) said yesterday. It was the fifth straight month of contraction for the economic barometer, a critical gauge of the manufacturing industry’s health, as external demand ... Read More »

Taiwan Customs seizes smuggled medical materials worth NT$1 million

TAIPEI: Customs at Taiwan Taoyuan International Airport on Sunday intercepted a shipment of smuggled medical materials at Terminal 2, estimated to be worth NT$1 million (US$30,460), and charged a man in terms of the Pharmaceutical Affairs Act. Senior customs officials said the most commonly seen aesthetic medicine product being smuggled into the nation is hyaluronic acid, followed by placentas and ... Read More »

Taiwan GDP can grow 2.1% in 2016: Fubon

TAIPEI: The nation’s export-oriented economy could expand a mild 2.1 percent next year, as advanced markets undergo a small recovery, while emerging markets avoid a hard landing, Fubon Financial Holding Co said yesterday. There is no evident concern or excitement on the horizon next year, when the economies in the US, Europe and Japan may grow 2.4 percent, 1.6 percent ... Read More »

Taiwan customs seizes pharmaceuticals worth $30,460

TAIPEI: A 33-year-old man from Hong Kong was found with 100 cases of botulinum toxin, 31 cases of hyaluronic acid and 16 cases of microcrystalline hydroxyapatite Customs at Taiwan Taoyuan International Airport on Sunday intercepted a shipment of smuggled medical materials at Terminal 2, estimated to be worth NT$1 million (US$30,460), and charged a man in terms of the Pharmaceutical ... Read More »

Taiwan police arrest man for smuggling 1,003 kg of chloroephedrine

TAIPEI: Police said Friday that they recently nabbed a Taiwanese man for allegedly smuggling more than 1,000 kilograms of chloroephedrine, a substance that can be used to produce amphetamines, from China into Taiwan. The 1,003 kg of chloroephedrine, packaged in 106 bags, could be used to produce 700 kg of amphetamines, worth about NT$200 million (US$6.12 million), the Criminal Investigation ... Read More »

Taiwan’s firms revenue dip 0.14% to NT$19.2 trillion

TAIPEI: In the first three quarters of the year, aggregate pre-tax income reported by firms listed on the nation’s main bourse rose 7.75 percent year-on-year to NT$1.42 trillion (US$43.42 billion), despite a 0.14 percent dip in total revenue to NT$19.2 trillion, Financial Supervisory Commission data showed yesterday. The commission said that growth during the period was propelled by the technology ... Read More »

FX Hotels suffers loss of NT$76.22 million in first three quarters of 2015

TAIPEI: FX Hotels Group Inc, which manages more than 50 directly operated and franchise hotels in Taiwan and China, is to report losses this year after closing unprofitable businesses and recognizing bad debts from operations in China, chairman Alvin Ho said yesterday. The group incurred a loss of of NT$76.22 million (US$2.33 million) in the first three quarters of the ... Read More »

Alipay expands mobile payment service to Taiwan

TAIPEI: Mainland tourists in Taiwan will soon be able to buy from thousands of vendors using a mobile app from Alipay, the mainland’s leading electronic payment platform. Although currently only a few chain stores in Taiwan offer the service, the total number of vendors to adopt the mobile payment method will reach 3,000 by the end of the year, said ... Read More »

Taiwanese SMEs generate $2.8m revenue from exports

TAIPEI: Taiwanese small- and medium-sized enterprises (SMEs) generate the highest revenue from exports in 13 markets around the world, the results of a survey commissioned by express delivery service FedEx Express show. Taiwanese SMEs generate an average of US$2.8 million in revenue per year from exports, according to the survey that was carried out by market research consultancy Harris Interactive ... Read More »

Value of Taiwan’s gold reserves declines about NT$380bn

TAIPEI: The value of the gold reserves held by the central bank has dropped by about NT$380 billion (US$11.59 billion) amid falling global gold prices, but the nation’s foreign exchange reserves remain at a record high. With the US dollar strengthening, the price of gold has fallen to about US$1,076 per ounce in New York, the lowest in six years. ... Read More »

Taiwan unemployment rate surges by 0.01% in Oct

TAIPEI: Unemployment last month rose by 0.01 percentage points to 3.9 percent, the lowest level for October in 15 years, according to government figures released yesterday. The number of total unemployed people was 455,000 last month, an increase of 1,000 from the previous month, but a decrease of 2,000 from the same month last year, the Directorate General of Budget, ... Read More »

Average wages in Taiwan rise 3% in first nine months

TAIPEI: The average monthly wages of workers rose 3 percent in the first nine months of this year from a year earlier, partially reflecting an increase in year-end and performance bonuses, according to government statistics released yesterday. In the nine-month period, the average employee earned NT$49,977 (US$1,524) per month, the highest-ever recorded for the same period of the year in ... Read More »

Taiwan’s CPC to cut prices of diesel, gasoline

TAIPEI: State-run oil refiner CPC Corp, Taiwan (CPC) yesterday announced that it would cut gasoline and diesel prices by NT$0.7 and NT$0.8 per liter respectively from today. It said the cut reflects the falling import costs due to excessive supply in the global market. After the adjustments, fuel prices are at their lowest levels since January 2009, CPC said. Crude ... Read More »

Alibaba launches funds to invest in HK, Taiwan startups

HANGZHOU: Alibaba on Thursday launched two nonprofit venture capital funds to help startups in Hong Kong and Taiwan. Alibaba set aside 10 billion new Taiwan dollars ($300 million) for its Taiwan fund and earmarked 1 billion Hong Kong dollars ($129 million) for the Hong Kong fund. Alibaba said it started receiving applications on Thursday and investment choices will be released ... Read More »

Taiwan IC revenue grows 3.3% to $18.9bn

TAIPEI: According to the TSIA that Taiwan IC revenue of Q3 2015 as a whole (including design, manufacturing, packaging and testing) totaled NT$574.3 billion(US$18.9B), 3.3% growth on-quarter and down 2.4% on-year. In the individual category, is NT$156.2B in design, 11.8% increase on-quarter and up 0.8% on-year; NT$305.9B in manufacturing,0.2% rise on-quarter and down 1.8% on-year; NT$252.4B in foundry, 1.3% growth ... Read More »

Taiwan police seize over 200kg of amphetamine

TAIPEI: A joint task force seized over 200 kilograms of amphetamine in a raid in a residential area of New Taipei Monday, according to the Investigation Bureau. The raid was conducted at four locations in New Taipei’s Xindian District after the main suspect, a man surnamed Chiang, was arrested outside one of the production facilities, the bureau said. The authorities ... Read More »

Hon Hai net income rises 11.06% to $1.14bn in Q3

TAIPEI: Hon Hai Precision Industry Co, Apple Inc’s iPhone assembler, yesterday posted a net income of NT$37.85 billion (US$1.14 billion) for last quarter, marking the highest net profit over the same period of time in the firm’s history. On the back of improved efficiency and strong demand for Apple’s devices, Hon Hai’s earnings beat the estimate of NT$34.8 billion for ... Read More »