M1B money supply rises
The annual growth of M1B money supply last month reached its highest level in more than three years, mainly due to a significant increase in bank loans and investments on the back of stronger demand for funds during the Lunar New Year holiday, the central bank said yesterday. The M1B, a narrow measure of money in circulation, including currency and passbook savings deposits, rose 9.93 percent from a year ago, the central bank said. The broader M2 measurement — which includes M1B, time deposits, foreign currency deposits and mutual funds — increased 5.97 percent last month compared with the same period last year, the report said. After adjusting for seasonal factors, the annual growth rates of M1B and M2 were 8.83 percent and 5.77 percent respectively, data showed.
Uni-President builds plant
Food maker Uni-President Enterprises Corp (統一企業) officially began the second phase of construction yesterday on its new production plant in Hsinchu County, which the company said would bring NT$10 billion (US$329.6 million) in revenue and create more than 1,000 jobs. At the facility’s second ground breaking, Uni-President chairman Alex Lo (羅智先) said the first phase of construction on the plant in Hukou Township (湖口) would be finished by next month. The second phase is expected to be finished by late next year, Lo added.