Competitiveness to fall
Taiwan’s overall trade competitiveness ranking could fall this year by two places to 14th out of 54 major and emerging economies, a survey said yesterday. The poll, conducted by the Importers and Exporters Association of Taipei, revealed that Singapore is poised to take the leading position for a fourth consecutive year, followed by the US and Canada in second and third place respectively, while Taiwan continues its two-year plummet in global trade competitiveness. The survey evaluates the degree of freedom, convenience, ease and exposure to risk for trading in world markets. The association attributed Taiwan’s poor performance in the survey to its slow progress in securing trade agreements. The association urged the government to accelerate efforts in securing trade agreements, boosting international promotion, establishing third-party payment services and devising specialized marketing strategies to tap into niche markets abroad.
Output value to rise
The value of the output of Taiwan’s manufacturing sector is expected to grow by 2.93 percent this year from a year earlier, an upward revision of 0.07 percentage points from a previous estimate, because of the global economic recovery, the Industrial Economics and Knowledge Center said on Tuesday. The center, a research unit of the Industrial Technology Research Institute (工研院), said the local manufacturing sector would generate output worth NT$19.55 trillion (US$619 billion) this year, up from the estimated NT$18.99 trillion for last year. The report said that manufacturing output is expected to grow 2.32 percent year-on-year in the first quarter, 2.5 percent in the second quarter, 3.8 percent in the third quarter and 3.01 percent in the fourth quarter.
Apple challenging Samsung
Apple Inc is chipping away at Samsung Electronics Co’s dominant position on its home turf in South Korea — thanks to its new iPhone 6 series. Apple captured a record 33 percent market share in South Korea in November last year, the highest-ever for a foreign brand, according to a monthly report released on Wednesday by Hong Kong-based market research company Counterpoint. In contrast, Samsung’s share slipped to 46 percent after hovering at about 60 percent for five months.
LCY Chemical sells land
LCY Chemical Corp (李長榮化工) on Wednesday said it would book a divestment gain of NT$169.75 million by selling idle real-estate assets in Greater Kaohsiung to China Steel Corp (中鋼). LCY said in a Taiwan Stock Exchange filing that it had sold a plot of land and buildings on the land in Siaogang District (小港) for NT$937 million to China Steel, which is the nation’s only integrated steelmaker.
Chamber announces roles
The European Chamber of Commerce Taiwan on Wednesday said two directors-elect, STMicroelectronics Taiwan general manager Giuseppe Izzo and BNP Paribas Taiwan manager Olivier Rousselet were elected as vice chairmen of the chamber. The board also elected Societe Generale Taipei Branch head Godwin Chang (張建西) and Siemens Ltd Taiwan president and chief executive officer Erdal Elver to serve as the chamber’s executive directors, the chamber said in a statement. The chamber promotes European business interests in Taiwan.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
BAD RAP: The exchange said Tatung had seriously breached shareholders’ rights and failed to give a satisfactory explanation of its board election dispute Tatung Co (大同) shares yesterday plunged by the maximum daily limit of 10 percent to NT$18.90, the lowest in three months, after the Taiwan Stock Exchange (TWSE) on Tuesday evening changed the company’s classification to a full-delivery stock effective tomorrow. The TWSE’s move follows the company’s failure to give a clear and satisfactory explanation of why it deprived dozens of shareholders of their voting rights during a board election at the annual shareholders’ meeting on Tuesday morning. Under the exchange’s regulations, investors are not allowed to engage in margin trading of a full-delivery stock, TWSE spokeswoman Rebecca Chen (陳麗卿) told
SIZE MATTERS: Medium-sized hotels that do not have the support of parent groups are more vulnerable and are forced to take action, a REPro Knight Frank researcher said About 50 hotels across Taiwan are seeking to exit the market as they succumb to the bleak business outlook amid international travel restrictions imposed to combat the COVID-19 pandemic. Yomi Hotel (優美飯店) on Minsheng E Road, Sec 1, in Taipei is seeking to transfer ownership with an asking price of NT$950 million (US$32.15 million) and a pledge for a lease contract that guarantees a 3 percent return. The budget hotel, with room rates that start from NT$1,400 per night, maintains normal operations, but has been struggling since March, when the government placed restrictions on inbound and outbound travel. Occupancy rates for hotels in
With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd (渣打台灣銀行) said on Thursday. The bank said that the US Federal Reserve since last month has been buying bonds issued by US companies to curb default rates. The US dollar is forecast to be weaker against the pound, the euro and the yen, as well as the Canadian dollar, the Swedish krona and the Swiss franc, as the greenback lacks high investment returns after the Fed in March slashed the benchmark interest rate