Trade fair attendance low
The number of foreign buyers visiting the Taipei International Electronics Spring Show and the Taipei International Opto-electronics Show, which started last Friday at the Taipei World Trade Center Exhibition Hall, were down by 66.22 percent to 883 from the previous year's event due to fears of a respiratory disease, the China External Trade Development Council said yesterday.
The number of local buyers were also down by 3.73 percent this year. Nearly 20,000 buyers visiting the five-day event.
KGI Securities to buy rival
KGI Securities Co (中信證券), the brokerage arm of Koos Group (中信證券), said it will buy smaller rival Taiyu Securities Co (台育證券) to expand its business on the island.
KGI will pay shareholders of privately held Taiyu in the form of 426.4 million new KGI shares, it said in a statement. That values the takeover at NT$4.2 billion (US$120 million), based on KGI's closing price today.
Central bank head to testify
Central bank Governor Perng Fai-nan (彭淮南) and 10 other current or former government financial officials were summoned by the Investigation Bureau to testify in a loan scandal, local newspapers reported.
Perng was questioned in connection with a decision by the Central Trust of China (中央信託局) to participate in a syndicated loan for a property development that later turned bad, the reports said. Perng was chairman of Central Trust of China at the time, the reports said.
The Investigation Bureau also summoned former finance minister Lee Yung-san (李庸三), who was chairman of the Farmers Bank of China (農民銀行) when the bank agreed to participate in the same syndicate, one of the newspapers said.
LCDs shipments rise
Large-sized LCD panel shipment volume saw a 12.3 percent increase from the fourth quarter of last year, reaching over 7.2 million units in the first quarter, the government-funded Market Intel-ligence Center (MIC, 市場情報中心) said in a statement.
Total shipment value similarly grew 14.6% during the same period to reach US$1.3 billion due to rising panel prices, reversing the loss in shipment value seen over the two previous quarters, the research institute said.
MIC said shipments for LCD monitor applications are anticipated to comprise over 70 percent of output in the second quarter, while shipments for LCD TV will likely rise given Taiwanese makers' growing involvement in the production of displays for this application.
Long Life in China by year's end
The most popular local cigarette brand -- Long Life -- is to hit the Chinese market at the end of this year, Taiwan Tobacco and Liquor Corp (TTL, 台灣菸酒公司) Chairman Huang Ying-san (黃營杉) said Monday.
Huang estimated that sales of Long Life cigarette can reach two million cartons, worth NT$35 billion (US$1 billion), in the first year.
The Chunghwa brand from China entered the Taiwan market a few days ago after the TTL and the Shanghai Tobacco Co -- manufacturers of the Chunghwa brand -- reached a trademark-exchange agreement, with TTL ceding its local trademark of the Chunghwa name in Taiwan in exchange for the Long Life trademark on the mainland.
NT dollar declines
The New Taiwan dollar yesterday continued to lose ground against its US counterpart, declining NT$0.020 to close at NT$34.816 on the Taipei foreign exchange market. Turnover was US$490 million.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
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