Bond issuance beats target
International bonds issued in Taiwan have exceeded the government’s target of NT$600 billion (US$18.94 billion) for this year, the Financial Supervisory Commission said on Thursday. As of the end of last month, the total bond issuance of NT$1.29 trillion was 214.96 percent of the target amount, the commission said. Foreign-debt issuers this year launched nine yuan-denominated Formosa bonds totaling 7.73 billion yuan (US$1.15 billion), it said. The international bonds issued in Taiwan have reaped investment returns of NT$58.4 billion over the past two years, bringing in underwriting and consulting fees of about NT$3.5 billion as well as NT$10.5 billion in tax revenues, it added.
Convenience store sales rise
The nation’s two major convenience store operators both reported increased sales for last month, supported by robust demand for fresh food and iced products. President Chain Store Corp’s (統一超商) sales increased 2.99 percent annually to NT$18.1 billion last month, with aggregate sales in the first nine months rising 5.48 percent annually to NT$161.5 billion. Taiwan FamilyMart Co (全家便利商店) reported revenue last month increased 2.96 percent year-on-year to NT5.03 billion. FamilyMart’s sales in the first nine months of this year increased 4.3 percent year-on-year to NT$45.3 billion.
HTC boosts start-up funds
HTC Corp (宏達電) yesterday said it will invest an additional US$100 million in its Vive X accelerator program, which aims to fund virtual reality (VR) start-ups around the world. The new investment represents the second stage of the Vive X program, which was launched in August in Taipei, San Francisco, Beijing and Shenzhen with HTC’s first US$100 million investment. The company backed more than 30 VR start-ups in the first phase of the program.
Occupancy rates revealed
There were 862,600 unoccupied residential properties in Taiwan last year, accounting for 10.35 percent of the total, the Ministry of the Interior said on Thursday. Of the empty properties, 118,713 were in New Taipei City and 63,890 were in Taipei, meaning that more than 20 percent of properties in the region were unoccupied, according to statistics compiled by the ministry’s real-estate information platform. The highest non-occupancy rate — 15.98 percent — was in Yilan, where 28,000 properties were unoccupied. Among the six special municipalities, Taoyuan had the highest non-occupancy rate at 11.49 percent, followed by Kaohsiung (10.86 percent), Tainan (10.15 percent), Taichung (10.02 percent), New Taipei City (7.72 percent) and Taipei (7.22 percent).
US seeks arbitration
The US on Thursday said it was calling for a WTO arbitration panel to resolve an escalating trade dispute on Chinese export barriers for raw materials, including lead, tin, graphite, antimony, chromium and copper. “We will aggressively pursue this challenge on behalf of US steelworkers, auto workers, aerospace workers and the many Americans whose businesses, jobs and livelihoods depend on the strength of these and other industries,” US Trade Representative Michael Froman said in a statement. Froman’s office in July took the initial step of calling for consultations with China to resolve the matter. Thursday’s announcement seeking arbitration indicated such consultations had not been successful.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion