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.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last