Sunday, November 29, 2015
The chairman of the Hong Kong arm of one of China's biggest securities companies goes missing. The head of another firm resurfaces after months incommunicado. An executive at a film studio is detained for allegedly taking bribes.
Saturday, November 28, 2015
The Directorate General of Budget, Accounting and Statistics (DGBAS, 主計總處) yesterday cut its forecast for annual gross domestic product (GDP) growth from 1.56 percent to 1.06 percent.
The U.S. dollar rose against the New Taiwan dollar Friday, gaining NT$0.114 to close at NT$32.815 after Taiwan's central bank continued its efforts to prop up the U.S. currency and drag down the local unit for the sake of Taiwan's exports, dealers said.
The National Development Council's (NDC, 國發會) business monitoring indicator edged up one point in October to 15, flashing blue for recession for the fifth straight month.
Taiwan's consumer confidence weakened for the seventh consecutive month in November but sentiment toward the local economic climate recovered after falling in the previous six months, according to a survey released by National Central University on Friday.
Shares in Taiwan pulled back Friday to drag down the index below the 8,400 point mark as investors trimmed their holdings before Taiwan's weighting cut by global index provider MSCI Inc. in three of its indexes becomes effective next week, dealers said.
Shipments of large-size flat panels larger than 7 inches in 2015 are expected to fall 4.1 percent from a year earlier, reflecting weakness in the global information technology industry, a research report said Friday.
Japan Prime Minister Shinzo Abe has ordered Cabinet ministers to prepare an extra spending package, including cash handouts for the poorest pensioners, seeking to breathe fresh life into the nation's stalling recovery.
The merger of Warid and Mobilink announced on Thursday is only the first of a series of transformative steps about to sweep the world of the telecoms. Telenor and Zong have announced a deal to share cellphone towers, and the industry is abuzz with talk that PTCL and UFONE -- which despite having common shareholders have operated as separate entities -- could be merged into one.
The International Monetary Fund's (IMF) decision to include the yuan in the Special Drawing Rights (SDR) basket will not directly increase the demand for yuan assets. Also, the implicit endorsement of the yuan as a reserve asset is unlikely to sway the decisions of global asset managers. Indeed, mainland China's market interventions this year in response to capital outflows and the bursting of the equity bubble provide strong reasons for them to steer well clear.