■ Fuel surcharges to rise
Taiwanese airlines will raise fuel surcharges on their international routes next month amid high fuel prices, the Civil Aeronautics Administration said yesterday. The leading carriers, China Airlines (華航) and EVA Airways (長榮航空), along with four other companies, will increase surcharges for short-haul flights from US$12.5 to US$15 and for long-haul flights from US$32.5 to US$39 starting on April 6, the administration said. "Higher fuel levies are being imposed because the airline companies can no longer absorb the additional fuel costs as oil prices continue to rise ... it would be lowered if crude prices drop in the future," it said in a statement.
■ Lin calls for FTA talks with US
Taiwan's representative to the WTO Lin Yi-fu (林義夫) called on the US on Wednesday to hold free trade agreement (FTA) talks with Taiwan as soon as possible. "While considering signing FTAs with its trade partners, the US government should give priority to the WTO member states that can bring greater economic benefits, including Taiwan," Lin said during a WTO meeting on US trade policy review. Lin said that the US is Taiwan's third-largest trade partner, with bilateral trade reaching US$49 billion last year, accounting for 14.5 percent of Taiwan's total foreign trade. He added that there is still great room for further expansion of bilateral trade and investment.
■ AUO-Sharp expand patent links
AU Optronics Corp (AUO, 友達光電), the world's third-largest flat-panel maker, said yesterday it would widen its cross-licensing agreement on thin-film-transistor liquid crystal display (TFT LCD) panels with Japan's Sharp Corp. The companies amended an earlier patent cross-licensing agreement on LCD panels for computers in order to expand the scope to cover other applications such as panels for televisions, a company statement said.
■ Asiaworld auction fails
The second public auction of Holiday Inn Asiaworld Taipei failed yesterday as no bid was tendered. The floor price was set at NT$8.79 billion (US$270 million), 20 percent off the price set at the first auction held last June. The Taipei District Court is expected to hold a third auction within the next month, according to regulations. Owned by Asiaworld Group (亞世集團), the money-losing hotel became a member of the Holiday Inn hotel chain in late 2003 and started to post profits. Wang Yung-ching (王永慶), chairman and founder of the Formosa Plastics Group (台塑集團), and his younger brother own over 50 percent of the hotel's debts.
■ Public bond sale announced
The government plans to sell NT$115 billion (US$3.5 billion) in bonds in the second quarter to help fund spending, the finance ministry said yesterday. That compares with the NT$100 billion the government sold during the same period last year. The ministry plans to auction NT$40 billion worth of five-year bonds on April 11, NT$35 billion of two-year debts on May 9 and NT$40 billion of 10-year securities on June 6, according to a statement on its Web site. The government needs to sell debt to fund a deficit that will reach NT$263 billion this year, according to next year's approved budget.
■ NT dollar weakens
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.021 to close at NT$32.578. A total of US$1.15 billion changed hands during the day's trading.
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
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