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Saturday, September 5, 2015
China's stock rescue jolts companies, reform plans
Tonhe Electronics is a casualty of Beijing's frantic effort to stop a stock market bust. The maker of electrical equipment, part of a technology industry the ruling Communist Party wants to promote, hoped to raise 200 million yuan (US$32 million) from an initial public offering of stock to build a research and development center.
Mainland China's market regulator has fined three companies, including Alibaba-linked Hundsun, a combined 453 million yuan ($71 million) for conducting "illegal securities business," which has been blamed for volatility on the plunging markets.
A government-run job website has advertised 15,000 positions in the hospitality industry, as the tourism market continues to strengthen, labor officials said Friday.
The price of a cab ride will go up in Taipei City, New Taipei City and Keelung City starting Oct. 1, the Taipei City Public Transportation Office (台北市公共運輸處) said, yesterday.
Shares of touch panel maker TPK Holding Co. (宸鴻) jumped Friday morning after the company reported a more than 20 percent month-on-month increase in sales for August, which spurred optimism about further sales growth in the third quarter on the back of orders from Apple Inc., dealers said.
Shares in Taiwan closed down more than 1 percent Friday on thin trading as investors appeared anxious, waiting for the release of the official U.S. job report later in the day, ...............
The U.S. dollar rose against the New Taiwan dollar Friday, gaining NT$0.032 to close at NT$32.833, on moderate trading volume as many traders stayed on the sidelines ahead of the release of the U.S. non-farm payroll report for August, dealers said.
Friday, September 4, 2015
World finance ministers and central bankers gather in Turkey this weekend to grapple with the fallout of slowing growth in mainland China, tanking emerging economies and panicked global stock markets.
The U.S. dollar rose against the New Taiwan dollar Thursday, gaining NT$0.039 to close at NT$32.801 as Taiwan's central bank continued its intervention to vault the greenback back into positive territory by the close, dealers said.
Fuel prices in Taiwan are expected increase next week after a recent technical rebound in international crude oil prices, but concerns over a supply glut remained in place, market sources said Thursday.
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