Once the most famous sightseeing spot in Taiwan, the observatory on top of the nation's third highest building, the Shin Kong Tower, will close down at the end of the year after posting losses over the past two years, a company official said yesterday.
The 12-year lease contract for the observatory, located on the 46th floor, or 200m up in the tower opposite the Taipei Main Station, will expire on Dec. 31.
Wu Chuan-chuan (吳娟娟), general manager of the Shin Kong Observatory, said the business started getting in the red two years ago and has posted losses of NT$6 million (US$179,100) this year alone.
"It's the best sightseeing spot. Perhaps people have forgotten about it, and perhaps we haven't done enough marketing and advertising," Wu said.
Opened in 1994, the observatory once drew over 6,000 people a day at its peak, but traffic has drastically declined to only 100 tourists on weekdays or more than 200 on weekends.
Shin Kong Tower's halo has been snatched by the much higher Taipei 101 Observatory, located on the 89th floor of the Taipei 101 building at a height of 382.2m.
Taipei 101 has become the new favorite with traffic surging to 5,000 to 8,000 people on holidays, said Michael Liu (劉家豪), assistant vice president of Taipei Financial Center Corp (台北金融大樓公司), manager of the skyscraper.
FIVE NEW FABS: An acquisition of Siltronic would boost GlobalWafers’ market share from 17 to 30 percent, easily surpassing Japanese rival Sumco’s 25 percent GlobalWafers Inc (環球晶圓) yesterday said it is in final talks to acquire Germany-based Siltronic AG in a 3.75 billion euro (US$4.5 billion) deal, which might help it compete with its closest rival Sumco Corp of Japan. The acquisition would be the fifth for GlobalWafers since 2008, as it has grown to become the world’s No. 3 supplier of silicon wafers through such deals. GlobalWafers, which has a 17 percent market share, would see its market position greatly elevated to 30 percent when combined with Siltronic’s 13 percent, according to a presentation Siltronic gave to its investors at a quarterly conference in August. Sumco
With the speed cryptocurrency is emerging as the millennial generation’s alternative asset of choice in India, it is hard to imagine that just two years ago a couple of blockchain pioneers were briefly in police custody. Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old start-up, were arrested in late 2018. No, they had not pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap bitcoin, ether or ripple for cash or vice versa. That was the whole point of unocoin, their crypto token exchange.
CONCERNS: The bank would act if it noticed currency speculation, the governor said, but he did not comment on a likely trajectory of the NT dollar against the greenback The central bank would intervene in the market whenever necessary to help stabilize the New Taiwan dollar, central bank Governor Yang Chin-long (楊金龍) said yesterday, adding that it is concerned Taiwan might be placed on the US watchlist for currency manipulation. The Control Yuan recently sent letter inquiring about the central bank’s market regulation efforts, Yang told a meeting of the legislature’s Finance Committee on the NT dollar’s appreciation and property price hikes. “It is the central bank’s top responsibility to stabilize foreign exchanges,” he said. The central bank has often stepped in toward the end of trading sessions to moderate the NT
Qualcomm Inc expects global shipments of 5G smartphones to more than double to between 450 million and 550 million units next year from this year, driven by increasing 5G network deployment worldwide and broader adoption of 5G technology beyond smartphones, a company executive told a virtual news conference yesterday. The San Diego-based company said that more than five times more telecoms have commercially launched 5G services in the first 18 months of the 5G era, compared with wireless technology transitions to previous generations. The momentum is to pick up speed in 2022, with the shipment volume of 5G-ready smartphones projected to reach