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July, 30, 2016

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Taiwan > Business
Local economy grows after shrinking for 3 straight quarters
Taiwan's economy registered a growth of 0.69 percent in the second quarter of this year, bringing the country's economic growth back in the positive territory, according to a preliminary estimate released by the Cabinet's Directorate General of Budget, Accounting and Budget (DGBAS) Friday.
 
Shares in Taiwan moved lower and closed below the 9,000-point mark Friday as investors rushed to cut their holdings in large-cap stocks in both the electronics and non-high-tech sectors by locking in gains they had built up in recent sessions, dealers said.
 
Taiwan-based tech giant Asustek Computer Inc. (華碩) chairman Jonney Shih (施崇棠) appointed the company's chief strategy officer Ted Hsu (徐世昌) to serve as the next chairman, confirming previous rumors.
 
The Export Processing Zone Administration (EPZA) under the Ministry of Economic Affairs (MOEA) issued the greenlight to four enterprises to invest in local export processing parks, and the presence of the four is expected to bring in about NT$400 million (US$12.5 million) in new funds and create 130 new job openings.
 
The U.S. dollar fell against the New Taiwan dollar Friday, shedding NT$0.029 to close at NT$31.926 as traders here were encouraged by gains posted by the Japanese yen to pick up the local currency throughout the session, dealers said.
 
Taiwan Index Plus Corp. (TIP), a subsidiary fully funded by Taiwan Stock Exchange (TWSE), has launched two new index products.
 
Wetskills Taiwan 2016, a two-week event challenging participating students and professionals to come up with innovative solutions to water-related problems, has concluded.
 
Lingering caution over Taiwan's property market prompted a more than 50 percent reduction in home construction permits in Taipei in the first six months of this year, property consulting firm REPro Knight Frank said Monday.
 
The financial markets are bracing for a "perfect storm" following Britain's decision to leave the European Union, according to Development Bank of Singapore (DBS).
 
Domestic gasoline and diesel prices are likely to drop next week as concerns over a supply glut continued to weigh on international crude oil prices this week, market sources said Friday.
 
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