Consumer prices fall
Consumer prices last month drop-ped 0.42 percent from the year before due to the falling cost of fruit and apparel, official data showed yesterday.
The consumer price index (CPI) fell a seasonally adjusted 0.64 percent from the previous month, the Directorate General of Budget, Accounting and Statistics said.
In the six months to June, the CPI fell 0.13 percent.
The wholesale price in June rose 1.43 percent from a year earlier, but was up 3.25 percent in the first half of this year, it said.
Formosa cuts diesel price
Formosa Petrochemical Corp (台塑石化), the nation's second-largest oil refiner, announced yesterday that it will cut the retail price of diesel by NT$1.2 per liter, effective today, the company said in a statement.
The superior-grade diesel will be NT$12.83 per liter, the company said.
State-run Chinese Petroleum Corp (中油) yesterday said it would follow suit by cutting the retail prices of diesel by NT$1.0 per liter, because of lower crude-oil costs. Price of superior-grade diesel will be NT$14.4 per liter and that of normal-grade diesel will be NT$13.9, the refiner said in a statement.
Hon Hai set for debt sale
Hon Hai Precision Industry Co (鴻海精密), the country's biggest electronics manufacturer by sales, may sell as much as NT$600 million (US$17 million) in debt to help fund expansion of a factory in the Hungarian capital Budapest, a Chinese-language newspaper reported, citing chairman Terry Kuo (郭台銘).
The company will also decide this year on a location in Mexico for a new plant as part of a strategy to set up manufacturing in Europe, China and North America, the report said.
The company will probably scrap plans to sell as many as 250 million new shares overseas because terms for selling debt are more favorable, the newspaper said.
Hon Hai shareholders on June 9 approved a plan to sell about 206 million shares overseas, raising up to NT$26.1 billion based on Friday's closing price.
CKS airport numbers rise
The number of travelers passing through the CKS airport totaled 39,803 on Sunday, a record high since the outbreak of SARS in mid-March.
An airport official said yesterday that the airport had 20,471 arriving passengers and 19,432 departing passengers on Sunday.
The airport had 242 arriving and departing flights on Sunday, carrying an average of 164.47 passengers each.
President ups 7-Eleven stake
Philippine Seven Corp, the Manila-based franchisee of 7-Eleven stores, said President Chain Store Corp (統一超商) boosted its stake in the company to 56.59 percent.
President Chain Store (Labuan) Holdings Ltd, a unit of President Chain, paid 41 million pesos (US$767,934) to raise its holding from 50.4 percent, Philippine Seven counsel Evelyn Enriquez said in a statement.
It bought ought 14.7 million shares, or 6.19 percent of the stock outstanding, at 2.80 pesos a share.
President Chain invested in Philippine Seven three years ago after the Philippines lifted a ban on foreign ownership of domestic retailers and allowed overseas investors to hold 100 percent stake in the companies.
NT dollar pares gains
The NT dollar pared gains from a 10-month high on trader speculation the central bank sold the currency to curb gains that may sap exporter earnings.
The local currency yesterday dropped NT$0.015 against its US counterpart to close at NT$34.405 on the Taipei foreign exchange market.
Turnover was US$1.07 billion.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
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MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last