Tuesday, February 25, 2014
In an effort to beef up the nation's financial health, the Ministry of Finance (MOF) rolled out new measures to manage the treasury more effectively, including tax reforms that aim to channel capital held by the wealthy toward the less advantaged.
The Taiwan Taipei District Court yesterday ruled to levy fines of NT$30 million to Chen Song-chu (陳松柱), former chairman of the Taiwan Asset Management Co. (TAMCO, 台灣金聯), and four managers involved in manipulating the company's bonus and profit-sharing scheme for personal gain.
Twenty-two electric public buses will go into service in Kaohsiung and Pingtung County on March 1 in a state-subsidized green program jointly proposed by major public bus operators in Southern Taiwan.
The sales of Taiwan's trade and food services sectors grew year-on-year for the fifth consecutive month in January to the third highest monthly level in history, according to government statistics released Monday.
A ranking official in the government on Monday confirmed that Hon Hai Group expressed its intention to merge subsidiary panel maker Innolux Corporation with its closest rival AU Optronics Corp (AUO), according to local reports.
Taiwan is expected to hold a 21-percent share of the global market for 4G LTE small cell base stations this year, with an expected annual output of 580,000 units, researchers at Taiwan's Industrial Technology Research Institute (ITRI) predicted Tuesday.
Dragged down by the government's fiscal reform plan, Taiwan's share market ended down 0.47 percent on Monday to close at 8,560.61, while the U.S. dollar gained NT$0.03 to close at NT$30.425 on the Taipei foreign exchange market.
Monday, February 24, 2014
Although the net outflow of Taiwan's financial accounts for the October-December period hit a quarterly high, the Central Bank said on Friday this only shows the ability of Taiwanese businesses and individuals to invest overseas.
Against the weakening momentum of the greenback, Asian currencies led by Singaporean dollars and South Korean won are expected to appreciate by 4-5 percent, DBS said.
South Korea and Australia signed Sunday a currency swap deal worth US$4.5 billion, Seoul's central bank said, in a move to boost trades and help curb currency swings.