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June, 25, 2016

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President Tsai Ing-wen (蔡英文) said on Monday that the robust industrial foundation in the Greater Taichung area should be utilized to support the development of the intelligent machinery and aerospace industries, the Central News Agency reported.
 
Formosa Petrochemical Corp., a privately owned gasoline supplier in Taiwan, said Saturday it will lower its gasoline and diesel prices next week to reflect falling international crude oil prices.
 
Chinese yuan-denominated deposits held by Taiwan-based banks were down for the fourth consecutive month in May after banks cut their time deposit rates on the Chinese currency, according to the central bank.
 
Aerospace Industrial Development Corp. (AIDC), one of Taiwan's leading aviation firms, has suggested that Taiwan should set up an alliance to push for its initiatives to develop the aviation industry.
 
Taipei to see return of double-decker buses by year-end
The Taipei City Government unveiled Friday the design of a fleet of eight double-decker buses that will hit the road for tourists by the end of this year.
 
Shares in Taiwan moved higher Friday on a technical rebound from a slump seen a session earlier as investors took cues from the gains on Wall Street overnight to pick up bargains, dealers said.
 
Domestic gasoline and diesel prices are likely to trend lower next week as international crude oil prices fell amid renewed concerns over global demand ahead of a referendum scheduled by the United Kingdom for June 23 to decide on whether to leave the European Union, market sources said.
 
Mainland China ordered at least 255 Shanghai-based industrial facilities, including part of a major oil refinery operated by Sinopec Corp, to shut for 14 days to reduce pollution ahead of the G-20 summit, according to an official document reviewed by Reuters.
 
Rubber man won't bend on SE Asia
Synthetic rubber-maker TSRC Corp. (台橡) CEO Tsai Wei-chiang (蔡偉強) gestures as he shares his thoughts on the government's "New Southbound Policy," Friday, June 17. Though the government has good intentions, Tsai said, it must realize expanding into the Southeast Asian market is not as easy as it thinks. According to Tsai, the local chemical industry is highly competitive, with most plants owned by foreign investors, and Taiwan firms would be facing "world-class opponents."
 
Singapore exports surged in May on increased pharmaceutical and gold shipments as traders seek a safe haven from market turmoil but analysts warned Friday the surprise jump did not indicate a wider economic recovery.
 
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