IBT opens Tianjin office
The Industrial Bank of Taiwan (IBT, 台灣工銀) yesterday opened its representative office in Tianjin, China, making it the first Taiwanese lender to open in that city, the bank said in a statement.
IBT chairman Kenneth Lo (駱錦明) said the bank will seek to upgrade into a branch after a year — in keeping with its plans to expand in greater China — which would focus on banking, capital leasing, trust and industrial financing businesses.
The bank is planning to set up its third financial leasing outlet in China in the second half of this year.
Acer’s EMEA building finished
Acer Inc (宏碁), the world’s No. 4 PC brand, said on Monday that its new building for its EMEA — Europe, the Middle East and Africa — headquarters has been completed and is ready to house Acer’s main operations in the region.
Acer’s EMEA headquarters has been in the Swiss canton of Ticino for nine years. The new building is situated in Bioggio, near the Lugano airport and major highways, the company said in a statement.
Acer said the building would accommodate up to 250 employees, giving the firm space to expand its operations in line with business needs.
Lottery winner aids Taichung
A lottery winner in Greater Taichung yesterday donated NT$6 million (US$203,400) to the city government, which Mayor Jason Hu (胡志強) said will help thousands of underprivileged people.
The donor shared the top prize of NT$414.9 million with one other winner. He donated NT$12 million of his NT$207 million share to the city government and to the Chinatrust Charity Foundation.
Taiwan Lottery Co (台灣彩券) chairman Hsueh Hsiang-chuan (薛香川) and president Joy Huang (黃志宜) presented the donation to Hu on behalf of the winner.
Inflation forecast raised
Bank of America Merrill Lynch has raised its forecast for inflation in Taiwan to 2.2 percent this year from 2 percent following the government’s announcement of major increases in power rates.
The bank also revised upward its inflation forecast for next year from 1.5 percent to 1.9 percent, saying Taiwan’s consumer price index (CPI) was likely to continue to feel the effect of the latest price hikes into next year, according to a research note released on Monday.
Taipower stops drilling holes
State-run Taiwan Power Co (Taipower, 台電) said yesterday it would immediately stop drilling at Sioulin Township (秀林), Hualien County, after Democratic Progressive Party (DPP) Legislator Hsiao Bi-khim (蕭美琴) last week accused the company of drilling holes in the township in preparation for a nuclear waste storage dump.
Taipower denied the accusation. It reiterated in a statement that the drilling was part of nationwide granite texture inspections, but that it would only restart drilling after winning approval from local communities and the legislature.
NT dollar gains ground
The New Taiwan dollar yesterday rose against the US dollar, adding NT$0.022 to close at NT$29.542 as exporters cut their greenback positions throughout the trading session, dealers said.
The buying in the NT dollar reflected market expectations that the central bank will allow the unit to rise further in response to inflationary pressure caused by recent hikes in domestic fuel prices and planned electricity rates, dealers said.
Turnover totaled US$539 million during the trading session.