GREEN’ ENERGY
Fubon eyes solar investment
Fubon Financial Holding Co (富邦金控) yesterday said it plans to invest NT$300 million (US$9.51 million) in a solar power joint venture through Fubon Life Insurance Co (富邦人壽), according to a Taiwan Stock Exchange filing. The solar power venture will invest in solar power plants in Taiwan and Fubon Life Insurance will hold 30 percent of the venture, Fubon Financial said. Last year, Cathay Life Insurance Co (國泰人壽) — through Cathay Financial Holding Co (國泰金控) — announced that it would invest NT$1.58 billion in a solar venture along with solar cell maker Neo Solar Power Corp (新日光能源) to build power plants in Taiwan.
FOOD
Pre-holiday fruit prices rise
In the run-up to the Lunar New Year holiday, meat prices have remained relatively stable while prices for fruit have seen the biggest increase compared with last year, the Council of Agriculture said on Thursday. On average, fruit was being sold at NT$72.1 per kilogram at the Taipei Fruit and Vegetable Market on Thursday, 29.2 percent more than the NT$55.8 recorded during the same period last year, the council said. Indian jujubes, in particular, were 94.9 percent more expensive than last year and tangerines 30 percent higher, the council said. Vegetable prices were 45.8 percent cheaper than last year, while seafood was 9.4 percent more expensive, it said.
APPS
Public safety app launched
Asustek Computer Inc (華碩) yesterday launched a mobile app in collaboration with the National Police Agency that enables users to report incidents and send the information on their locations to the police. Users can also use the app to check real-time traffic information. Asustek chairman Jonney Shih (施崇棠) said the work with the police agency aims to help the government provide a safer environment for the public. Shih said the app will be preinstalled in all of the ZenFones in the Taiwanese market.
FINANCING
Chang Wah secures loan
Chip packaging and testing materials supplier Chang Wah Electromaterials Inc (長華電材) and its semiconductor materials subsidiary, Chang Wah Technology Co Ltd (長華科技), yesterday secured a NT$6.85 billion syndicated loan from six domestic banks led by the Bank of Taiwan (臺灣銀行). Chang Wah Electromaterials said it plans to use NT$2.85 billion of the new loan to repay old bank loans and strengthen its working capital, while Chang Wah Technology said it would use NT$4 billion to fund its acquisition of SH Asia Pacific Pte Ltd of Singapore. In November last year, the two companies announced the would acquire SH Asia Pacific Pte Ltd for ￥15 billion (US$141 million), with Chang Wah Electromaterials taking a 30 percent stake and Chang Wah Technology 70 percent.
TAITRA
Appointments approved
The board of the Taiwan External Trade Development Council (TAITRA, 外貿協會) yesterday approved the appointment of New Southbound Policy Office Director James Huang (黃志芳) as its new chairman, replacing Francis Liang (梁國新), who took over as the nation’s representative to Singapore last month. It also approved the appointments of Chuang Suo-hang (莊碩漢) and Kuo Lin-wu (郭臨伍) as vice chairmen of the council, while naming Walter Yeh (葉明水) as executive president, the council said in a statement.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS