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July, 25, 2016

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Business > Asia
Premier Lin Chuan said the government's plan to develop the smart machinery industry in Taiwan is aimed at turning the country into a global R&D and manufacturing hub for the industry.
 
The budget for an episode of an average local TV drama is rarely more than NT$3 million (US$93,748), about 12.5 percent that of the South Korean TV drama "Descendants of the Sun," the Public Television Service (PTS) board of directors has said.
 
A knowledge exchange platform will be established to help Taiwan's banking industry beef up information security, Financial Security Commission (FSC, 金管會) Vice Chairman Kuei Hsien-nung (桂先農) said Thursday.
 
Asian markets mostly rose Thursday following a fresh Wall Street record as traders are pumped up by strong corporate results and expectations of fresh stimulus.
 
The 2016 BioTaiwan exhibition, which showcases the country's biotechnology industry and matches buyers, researchers and local manufactures, opened in Taipei Thursday.
 
The flood of billions of dollars out of China slowed dramatically in the second quarter, official figures showed Thursday, despite the yuan's persistent weakness making it less attractive to hold.
 
Holding banks account-able
Union members of the Bank of Kaohsiung Corporate Union (高雄銀行企業工會) voice their demands in the bank lobby on Thursday, July 21. Demonstrators staged a protest outside the Kaohsiung headquarters, protesting against the firm for not paying its staff for working overtime as required, and said they were "outraged" at current laws that permit high-level executives to receive 4.6 months of their original salary.
 
The yen on Thursday slid to its lowest level in about six weeks on expectations of fresh stimulus from the Japanese government and central bank, ahead of a European Central Bank meeting later in the day.
 
Shares in Taiwan closed higher Thursday as investors took cues from a further upturn on Wall Street overnight to chase prices on the local main board, pushing up the weighted index to a new one-year high, dealers said.
 
EVA Airways, one of Taiwan's leading airlines, announced Thursday that it will suspend all its flights to Istanbul from July 25 due to the recent political turmoil there, adding that services will not resume until at least next summer, when the carrier will re-evaluate the situation.
 
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