Taishin buys investment trust
The board of Taishin Securities Co (台証證券), a subsidiary of Taishin Financial Holding Co (台新金控), yesterday approved a proposal to take up the remaining 55 percent stake in Taishin Investment Trust Co (台新投信), making the investment trust arm wholly owned, the company said in a press statement.
Taishin Securities will complete the acquisition at a cost of NT$14.55 per share, the statement said, without disclosing the deal’s total amount.
After the merger, the parent financial group hopes to leverage the outlets of both companies to strengthen its financial services.
Gasoline, diesel prices down
Domestic gasoline prices as well as diesel prices will both be lowered by NT$0.1 per liter today, state-owned oil refiner CPC Corp, Taiwan (CPC, 台灣中油) said yesterday.
After the adjustment, CPC’s price for a liter of 98-octane unleaded gasoline will be NT$25.2, 95-octane unleaded gasoline will cost NT$23.7, and 92-octane unleaded gasoline NT$23.
Diesel will be priced at NT$20.2.
Rival Formosa Petrochemical Corp (台塑石化), the nation’s only publicly traded oil refiner, said it would match CPC’s price adjustment and that its new prices would also take effect from today.
CPC adjusts its gas prices every Friday.
China Life plans to sell debt
China Life Insurance Co (中國人壽) plans to sell NT$2 billion (US$58 million) of five-year subordinated debt through a private placement to boost capital, the company said in a stock exchange filing yesterday.
The debt, which is sold through a private placement, will be converted into shares of China Life on maturity, the statement said. The subordinated debt pays an interest of 4 percent.
NASDAQ, TAIFEX ink deal
The NASDAQ OMX Group Inc and the Taiwan Futures Exchange (TAIFEX) have signed a Memorandum of Understanding (MOU) with the intent to pursue a business partnership, the two exchanges said in a joint statement yesterday.
Under the MOU, the two exchanges will share information and best practices regarding product development, market operations and common interest areas in the derivatives market, the statement said.
The two exchanges signed the MOU at the FIA Conference in Boca Raton, Florida, on Thursday, with TAIFEX president Steve Wang (王中愷) and NASDAQ OMX president Magnus Bocker participating.
“In response to the rapidly changing global financial landscape, TAIFEX and NASDAQ OMX will work closely to leverage unique knowledge from each other’s markets,” Wang said in the statement.
FTC tightens bank rules
The Fair Trade Commission yesterday said that banks wishing to charge management fees on small accounts must fully disclose the information in a contract or a similar written document to depositors beforehand.
Financial institutions that fail to do so and deduct fees directly from the depositor’s account would be fined between NT$50,000 and NT$25 million for violating the Fair Trade Law (公平交易法), the commission said in a statement.
Local currency loses ground
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.001 to close at NT$34.495.
Turnover was US$1.032 billion.
Taishin buys investment trust
The board of Taishin Securities Co (台証證券), a subsidiary of Taishin Financial Holding Co (台新金控), yesterday approved a proposal to take up the remaining 55 percent stake in Taishin Investment Trust Co (台新投信), making the investment trust arm wholly owned, the company said in a press statement.
Taishin Securities will complete the acquisition at a cost of NT$14.55 per share, the statement said, without disclosing the deal’s total amount.
After the merger, the parent financial group hopes to leverage the outlets of both companies to strengthen its financial services.
Gasoline, diesel prices down
Domestic gasoline prices as well as diesel prices will both be lowered by NT$0.1 per liter today, state-owned oil refiner CPC Corp, Taiwan (CPC, 台灣中油) said yesterday.
After the adjustment, CPC’s price for a liter of 98-octane unleaded gasoline will be NT$25.2, 95-octane unleaded gasoline will cost NT$23.7, and 92-octane unleaded gasoline NT$23.
Diesel will be priced at NT$20.2.
Rival Formosa Petrochemical Corp (台塑石化), the nation’s only publicly traded oil refiner, said it would match CPC’s price adjustment and that its new prices would also take effect from today.
CPC adjusts its gas prices every Friday.
China Life plans to sell debt
China Life Insurance Co (中國人壽) plans to sell NT$2 billion (US$58 million) of five-year subordinated debt through a private placement to boost capital, the company said in a stock exchange filing yesterday.
The debt, which is sold through a private placement, will be converted into shares of China Life on maturity, the statement said. The subordinated debt pays an interest of 4 percent.
NASDAQ, TAIFEX ink deal
The NASDAQ OMX Group Inc and the Taiwan Futures Exchange (TAIFEX) have signed a Memorandum of Understanding (MOU) with the intent to pursue a business partnership, the two exchanges said in a joint statement yesterday.
Under the MOU, the two exchanges will share information and best practices regarding product development, market operations and common interest areas in the derivatives market, the statement said.
The two exchanges signed the MOU at the FIA Conference in Boca Raton, Florida, on Thursday, with TAIFEX president Steve Wang (王中愷) and NASDAQ OMX president Magnus Bocker participating.
“In response to the rapidly changing global financial landscape, TAIFEX and NASDAQ OMX will work closely to leverage unique knowledge from each other’s markets,” Wang said in the statement.
FTC tightens bank rules
The Fair Trade Commission yesterday said that banks wishing to charge management fees on small accounts must fully disclose the information in a contract or a similar written document to depositors beforehand.
Financial institutions that fail to do so and deduct fees directly from the depositor’s account would be fined between NT$50,000 and NT$25 million for violating the Fair Trade Law (公平交易法), the commission said in a statement.
Local currency loses ground
The New Taiwan dollar lost ground against the US dollar on the Taipei Foreign Exchange yesterday, declining NT$0.001 to close at NT$34.495.
Turnover was US$1.032 billion.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last