Money supply has grown
Taiwan's money supply grew at a faster pace last month because of an increase in net foreign fund inflow, the central bank said in a statement.
M2, the broadest measure of the nation's money supply, rose 5.64 percent from a year earlier after increasing 5.57 percent in April, the Central Bank of China said in a statement in Taipei.
M1A, which tracks net currency in circulation plus checking accounts and passbook deposits, expanded 6.1 percent last month after increasing 7.6 percent in April, the central bank said.
M1B, which excludes time deposits and foreign-currency deposits included in M2, rose 5.9 percent last month after expanding 6.1 percent the previous month.
High-speed rail to sell shares
Taiwan High Speed Rail Corp (THSRC, 台灣高鐵) plans to sell shares for the first time on the Taiwan Stock Exchange and may raise as much as NT$32 billion (US$1 billion), a Chinese-language newspaper reported, citing company Assistant Manager Ted Chia (賈先德).
The company aims to apply to the regulator for the sale before June 30, the Taipei-based newspaper reported, citing Jian.
THSRC, the developer of the nation's fastest train service, expects its 345km "bullet train" railway line to begin operating by the end of October. But a government official said earlier this week that delays in construction would make the company impossible to implement the service by October.
Matsushita to make plasma TVs
Matsushita Electric Industrial Co plans to make 42-inch plasma televisions under the Panasonic brand in Taiwan to gain local market share, a Chinese-language newspaper reported, citing an unidentified Matsushita official in Taiwan.
Producing the high-definition TVs in Taiwan will help lower costs, the newspaper said. The first batch of the Taiwan-made TVs is scheduled to be sold in the local market early next year, it said.
Prices of those Taiwan-made TVs may fall below NT$100,000 (US$3,188) each, compared with the current import price of NT$149,000, the report said. That may trigger a price-cutting war in the market, it said, citing Taiwan Kolin Co (歌林), the nation's third-largest home appliance maker.
Watsons manager welcomed
Watsons Taiwan, the nation's largest health and cosmetics chain, welcomes its new managing director, Stuart Mitchell, who took up his post last Thursday.
Formerly a managing director in the UK's major retailer Sainsbury's Supermarkets Ltd, Mitchell is a seasoned retail expert with 20 years' experience. His predecessor, Gordon Reid, was promoted to take charge of Watsons' expansion in North Asia.
Mitchell, 45, said Watsons will focus on strengthening market presence by opening 90 new outlets by the end of the year to achieve the 400-store mark, and investing NT$1 billion (US$32 million) to refit 236 exiting stores this year.
By adhering to the twin policies of offering low prices and introducing better services, sales this year are expected to have double-digit growth from last year, he told reporters yesterday.
NT dollar trades lower
The New Taiwan dollar yesterday traded lower against its US counterpart, declining NT$0.002 to close at NT$31.361 on the Taipei foreign exchange market.
Turnover was US$783 million, up from US$616 million the previous day.
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