■ Chip cards widely accepted
More than 90 percent of the nation's 16,000 automated-teller machines (ATMs) have been upgraded to accept chip-embedded cards as of the end of last month, the Financial Supervisory Com-mission said yesterday in a statement.
Banks recently started to notify customers to renew their cards in an attempt to have all magnetic cards changed to chip-embedded cards by the year's end.
More than 60 million magnetic cards are in circulation, among which about 20 million are currently valid and used.
■ Tourist arrivals rebound 44%
The number of tourist arrivals reached 1.39 million in the year's first half, up 44.6 percent from the same period last year, the Direc-torate General of Budget, Account-ing and Statistics said yesterday.
Officials ascribed the increase to the fact that the number of tourist arrivals during the first half of 2003 was relatively low due to a SARS outbreak.
Japan remained the largest tourist source for the January-June period, with Japanese making 380,000 visits, a 17.4 percent increase from the year-earlier level.
Hong Kong and Macau residents made 201,000 visits during the same period, for a 55.5 percent increase, while Americans made 192,000 visits for an 86.3 percent growth rate.
■ EPZ workers on upswing
The number of workers employed in the five economic processing zones (EPZs) recently topped 71,000, the highest level in five years, an Economic Processing Zone Administration spokesman said yesterday in Kaohsiung.
The number of workers employed by the companies operating in the five EPZs accounts for 3.08 percent of the total number of workers in the manufacturing sector.
The official predicted that the number will continue to grow as a result of the rebounding economy, which is set to create a larger number of job opportunities. The number of jobs hit a record high of over 90,000 in 1987.
Of the five EPZs, the Kaohsiung Export Processing Zone in Nantze district employs the most workers with 39,590.
■ AKT opens R&D center
AKT Co, a US-based TFT-LCD equipment manufacturer, on Tuesday opened an Asia-Pacific R&D center in Taiwan.
Speaking at the ceremony, AKT president Wendell Blonigan said that the R&D center will cooperate with the Industrial Technology Research Institute and the Aero Industry Development Corp to boost the development of flat-panel displays.
In the initial stage, the R&D center will be staffed by senior researchers from the AKT head office who will carry out R&D projects in cooperation with Taiwan experts, Blonigan said.
■ Bullock to lead BritCham
The British Chamber of Com-merce in Taipei (BritCham) yesterday announced its appointment of Alistair Bullock, head of Standard Chartered Bank Taiwan, as its new chairman. The appointment takes effect immediately.
A former chairman of Brit-Cham in China, Bullock's extensive experience and knowledge would be invaluable assets to the chamber, executive director Ting Lee said in a statement.
■ NT dollar continues fall
The New Taiwan dollar yesterday continued losing ground against its US counterpart, declining NT$0.011 to close at NT$33.946 against the greenback on the Taipei foreign exchange market.
Turnover was US$394 million.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate
A Bollywood actor’s face tattooed on his arm, Sandeep Bacche’s devotion shocks few in India where stars enjoy semi-divine status, but even there the hallowed silver screen might be losing its shine to streaming services and pandemic fears. “Whenever things get better and theaters begin operations, I will watch three movies a day for sure just as a way to celebrate,” said the Mumbai rickshaw driver, who is recovering from the virus himself. However, others might not join the party. With cinemas shut for months due to a COVID-19 lockdown, and little prospect they will reopen soon, frustrated Bollywood producers have turned to