CPC to cut gas prices
State-run CPC Corp, Taiwan (台灣中油) announced yesterday it was cutting wholesale gasoline and diesel prices by NT$0.2 per liter to reflect the declining oil prices. The new rates went into effect at 12am this morning.
Adjusted retail prices for 98-octane unleaded gasoline is NT$28.3, 95-octane unleaded gasoline is NT$26.8, 92-octane unleaded gasoline is NT$26.1 and top-grade diesel oil is NT$23 per liter, the company said.
Smaller rival Formosa Petrochemical Corp (台塑石化) later said it would lower its prices to match CPC Taiwan's.
Duty on China footwear coming
The Ministry of Finance announced yesterday to levy a temporary anti-dumping duty of 43.46 percent on footwear imported from China starting on Friday for a maximum of four months. This decision was made after the Ministry of Economic Affairs confirmed that cheap Chinese-made shoes have disturbed the local shoemaking industry.
The finance ministry will finalize its investigation within the next 60 days, or by May 12. After receiving reports from the finance ministry, the economics ministry will conduct its last round of investigations into whether the imports have damaged the local industry within 40 days.
AU sues LG Philips
AU Optronics Corp (友達光電) sued LG Philips LCD Co, claiming the larger rival infringed three patents.
AU Optronics filed the complaint on Thursday in Madison, Wisconsin, accusing LG.Philips of deliberately using its patented technology without permission.
AU Optronics is also seeking cash compensation.
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