Mandarin Oriental breached
High-end hotel chain Mandarin Oriental said on Thursday that the credit card systems at some of its hotels in the US and Europe were hacked. Several companies have been the target of cyberattacks in the last year, including retailer Home Depot and bank JPMorgan Chase. The company, however, did not specify which of its hotels were affected. It also did not give details on the extent of the hack or how many customers reported fraudulent charges on their credit cards as a result. Mandarin Oriental operates about 30 hotels in cities across the world. The company said it has removed the bad software from its systems and that it is still investigating the breach.
Japan Display to build plant
Japan Display Inc yesterday said it would spend US$1.4 billion on a new smartphone and tablet screen factory. The plant, which is expected to produce 25,000 sheets of LCD a month, isto be constructed in the central Japanese city of Hakusan at a cost of ￥170 billion (US$1.4 billion), the company said. The plant, which would boost Japan Display’s screen production by about 20 percent, is expected to start operating next year “to satisfy growing demand for ever-advancing displays,” it said in a statement.
Industrial production rises
Industrial production rose by 0.6 percent in January, a fifth consecutive monthly increase that was propelled by a surge in construction activity. Yesterday’s Federal Statistical Office’s report compared with economists’ forecast of a 0.5 percent month-on-month rise. It followed a 1 percent increase in December last year, revised upward from an initial reading of 0.1 percent. On Thursday, official data showed a much-larger-than-expected 3.9-percent drop in factory orders in January, but economists said that did not appear to be a substantial setback.
Mexican peso drops sharply
The Mexican peso dropped on Thursday to its lowest level against the US dollar since March 2009, when the nation was in deep recession. The currency closed at 15.50 pesos against the US dollar, shedding almost 1 percent from 15.35 pesos a day earlier, according to the private Banamex bank. Monterrey Institute of Technology financial expert Oliver Ambia said the depreciation of the peso was due to “low international oil prices and the country’s bad image due to lack of security,” which has affected foreign investor sentiment.
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
Taipei Times: When do you think the hospitality industry can return to how it was before the COVID-19 pandemic? How does Formosa International Hotels Group (FIH, 晶華酒店集團) fare this quarter and beyond? FIH chairman Steve Pan (潘思亮): The virus outbreak will have a serious impact on business travel, driven mainly by meetings, incentive travel, conferences and exhibitions over the past three decades. For the past six months, many businesspeople have grown used to exchanging information on the Internet, where more people can participate. The trend might sustain for three to five years until people are vaccinated and it is safe to