Tue, Oct 03, 2017 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

EMPLOYMENT

More workers furloughed

There were 319 workers at 15 companies who agreed to take unpaid leave in the final two weeks of last month, up 43 from the first two weeks, according to the latest statistics from the Ministry of Labor. All of the companies implementing furloughs had fewer than 50 employees. They were put in place after the workers agreed to take four days of unpaid leave per month for no more than three months, the ministry said in a statement yesterday.

EMPLOYMENT

Employers planning bonuses

More than 60 percent of local employers are planning to give small cash gifts to their employees to celebrate tomorrow’s Mid-Autumn Festival, a survey by online job bank yes123 found. Of the 904 firms polled, 63.7 percent said they would give money to their employees for the festival. Among the employers who said they would give money, 44.3 percent said the bonus would range between NT$800 and NT$1,200 (US$26.30 and US$39.46), while 19.1 percent said it would fall between NT$500 and NT$800. The average bonus among employers offering them was NT$1,406, the survey released yesterday showed.

TRADE

Manila a success: TAITRA

This year’s Taiwan Expo in Manila has garnered about US$58 million in business opportunities from 1,150 corporate buyers, the Taiwan External Trade and Development Council (TAITRA, 外貿協會) said yesterday. The three-day event concluded on Sunday. In particular, buyers were especially interested in “green” energy products as environmental awareness rises in the Philippines, TAITRA said. Previously, TAITRA has organized similar Taiwan expos to showcase the nation’s products in Indonesia and Vietnam, with the final event of this year taking place next month in Malaysia.

FOREIGN EXCHANGE

Foreigners dump NT dollar

The US dollar yesterday rose against the New Taiwan dollar, gaining NT$0.108 to close at NT$30.413 in the wake of foreign fund outflows on a possible interest rate hike by the US Federal Reserve, dealers said. Soon after the foreign exchange market opened, the US dollar got a boost as foreign investors moved more of their funds out of the nation, with foreign banks dumping the NT dollar as their outlook on the currency turned cautious, dealers said. Such caution was amplified when Philadelphia Federal Reserve President Patrick Harker said on Friday last week that he still has an interest rate hike “penciled in” for December. Harker also anticipated three more rate increases next year. Harker’s statement came in line with a hint made by the Fed in its last policymaking meeting in September that the US central bank is becoming more hawkish about monetary policy.

RETIREMENT

Most retirees conservative

A survey conducted by CTBC Financial Holding Co (中信金控) and Chinese-language magazine Global Views Monthly showed that local retirees are expecting a monthly retirement income of NT$30,811, or only 48 percent of their current monthly wage. The majority of that amount would be coming from their pension and personal savings, the survey which was released yesterday showed. Most Taiwanese are conservative when it comes to retirement planning, with most favoring tools such as insurance policies and fixed deposits, it showed.

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