Taiwan, Nicaragua talk FTA
A second round of FTA bilateral consultations between Taiwan and Nicaragua has just been completed in San Francisco, marking a step forward in efforts for the two countries to eventually sign an FTA, the Bureau of Foreign Trade (BOFT) reported yesterday.
Officials headed by ROC Economic Affairs Vice Minister Steve Chen (陳瑞隆) on the Taiwan side and Alejandro Arguello, Nicara-gua's vice-minister of development, industry and commerce on the other, reached consensus upon the conclusion of the consultation on several issues, including market access, trade facilitation and cooperation for the attainment of a third round of such talks.
In detail, the two sides reached consensus on areas including animal quarantine, technical trade barriers, fair competition, labor, intellectual property rights, telephone and other telecommunications, investment and trade regulations as well as procedures.
The two sides agreed that the third round of talks will be held between Jan. 31 and Feb. 4 next year, in the hope that the two countries can complete their bilateral talks and ink a formal FTA in the first half of next year.
Apple to buy more computers
Apple Computer Inc will probably raise purchases of computers and other parts in Taiwan by about a quarter to US$5 billion next year, a Chinese-language newspaper reported, without saying where it obtained the information.
Apple may increase orders on optimism about sales of iMac personal computers and iPod digital music players, the report said.
Apple also hired more people at its Asia procurement office in Taiwan, where the company has about 100 employees, compared with about 20 when it was set up three years ago, the paper said.
China Steel may up bonus
China Steel Corp (中鋼) may increase this year's annual bonus to employees on expectations of higher profits, a Chinese-language newspaper reported, without saying where it obtained the information.
The bonus would increase their annual pay to the equivalent of 26 months' salary from about 22 months last year, the Taipei-based newspaper reported.
China Steel, Taiwan's biggest steelmaker, on Oct. 16 said profits this year will exceed the NT$46.4 billion (US$1.4 billion) forecast made in June because of higher global all-round prices and stron-ger demand.
Formosa ups Vietnam stakes
Formosa Plastics Group (台塑) plans to invest an additional US$268 million on its textile manufacturing and power plant projects in Vietnam, a Chinese-language newspaper reported without saying where it obtained the information.
The additional investment will lift Formosa Plastics' total investment in Vietnam to about US$750 million, the Taipei-based newspaper said.
Formosa Plastics is Taiwan's largest industrial group.
NT dollar rises
The New Taiwan dollar rose against its US counterpart on speculation exporters will buy the local currency after US Treasury Secretary John Snow suggested his government won't act to curb the greenback's decline.
The NT dollar climbed NT$0.13 to close at NT$32.070 on the Taipei foreign exchange market. Turnover was US$754 million.
The local currency this year gained 6 percent against the US dollar.
"The US probably still won't intervene to buy its currency," said William Chou, a currency analyst in Taipei at Hua Nan Commercial Bank (華南銀行). "Exporters may rush to buy NT dollars after the currency rises beyond NT$32."
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
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