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May, 1, 2016

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Business > Asia > Taiwan
The U.S. dollar rose against the Taiwan dollar Friday, gaining NT$0.034 to close at NT$32.330, as foreign investors moved funds out of the region, dealers said.
 
Shares in Taiwan closed moderately lower Friday as investors took cues from the losses on Wall Street overnight amid concerns over earnings among the heavyweights in the U.S. market, dealers said.
 
The average wage for the first two months of this year fell from a year earlier as employers doled out lower year-end bonuses before the Chinese New Year holiday in the wake of an economic slowdown, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday.
 
Evergreen Marine Corp., the largest shipping company in Taiwan, has signed a memorandum of understanding with its three foreign counterparts to set up a shipping alliance.
 
Weak trading 'unrelated' to rescue fund exit
The finance minister on Thursday rejected criticism that the exit of the National Stabilization Fund put downward pressure on Taiwan shares earlier this week.
 
The Executive Yuan on Thursday moved to cancel a tax exemption for imported express consignment of less than NT$3,000, in a bid to curb tax evasion in e-commerce.
 
Steel stocks moved higher Thursday, led by China Steel Corp. after the largest steel supplier in Taiwan raised its domestic wholesale prices for June deliveries after the price hikes seen in the previous few months at a time of rising iron ore prices in the global market, dealers said.
 
Tax evasion bill a priority for successor: minister
Finance Minister Chang Sheng-ford (張盛和) on Wednesday said that pushing through a bill to curb tax evasion would be a priority for his successor Sheu Yu-jer (許虞哲).
 
Foreign orders fell 4.7 percent to US$36.6 billion in March, marking the 12th straight month of annual decline, the Ministry of Economics Affairs (MOEA, 經濟部) reported on Wednesday.
 
The Taipei-based Chung-Hua Institution for Economic Research (CIER) has lowered its forecast for Taiwan's gross domestic product (GDP) growth in 2016 to 1.36 percent, barely half the level of its previous projection.
 
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