Fri, Jun 21, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with agencies

MACROECONOMICS

M1B and M2 growth slows

Last month’s M1B — a measure of the amount of money in circulation in the nation — grew 7.23 percent year-on-year, slower than the 7.65 percent annual growth in April, the central bank said in a statement yesterday. M2 — which includes M1B, time deposits, foreign currency deposits and mutual funds — also saw annual growth slow to 3.4 percent, from 3.71 percent in April, the bank said. The declines were mainly because of net foreign capital outflows and slower growth in bank loans and investments, the bank added. For the first five months of this year, the average annual growth rates of M1B and M2 were 6.85 percent and 3.25 percent respectively, the bank said.

TELECOMS

CHT to hire 1,000 workers

Chunghwa Telecom Co (CHT, 中華電信), the nation’s biggest telecom, yesterday said that it plans to hire about 1,000 people with expertise in technology this year, with monthly pay of up to NT$48,000. College graduates with a technology-related degree could receive a starting monthly salary of NT$37,000, the company said. The hiring spree comes as it expects to face its largest-ever amount of retirement applications over the next five years. A total of 581 employees retired in the first half of this year, it said.

AIRLINES

Bamboo eyes more routes

Bamboo Airways Co Ltd, Vietnam’s fifth airline, said that it plans to operate more routes between Taiwan and Vietnam — including the popular tourist destination of Ha Long Bay, Nha Trang, Hanoi and Phu Quoc in September — after it launched direct flights between Taiwan Taoyuan International Airport and Da Nang on Tuesday. The round-trip flights, operated on Airbus SE A321neo aircraft every five days, are the first international route served by the airline. Bamboo Airways said that it plans to extend its flights to Taiwan and onward to the US, as well as service other routes to neighboring countries such as Japan and South Korea by 2022.

MOTORCYCLES

Harley, Qianjiang to team up

Harley-Davidson Inc is to partner with China’s Qianjiang Motorcycle Co (錢江摩托) to produce a new smaller motorcycle. Harley-Davidson on Wednesday said that the new bike would have an engine displacement of 338cc, by far the smallest engine it has ever made, and would be sold in China starting at the end of next year. The new model would initially be sold in China, one of the world’s largest motorcycle markets, before it is introduced to other Asian markets, Harley-Davidson said. Qianjiang is majority controlled by Geely Holding Group Co (吉利控股), a Chinese company that owns the Volvo brand of cars.

SMARTPHONES

iPhone demand weak: bank

Apple Inc could be seeing weaker-than-expected demand for its iPhone product line, especially in China, JPMorgan Chase & Co said on Monday. The macroeconomic uncertainty “is likely to drive greater headwinds to the smartphone market,” the US bank wrote in a note. JPMorgan lowered its iPhone shipment forecasts for the second quarter through the fourth quarter, dropping them by 4 percent to 139.5 million units. Credit Suisse Group AG said that the pace of decline for iPhone shipments in China has improved this quarter due to price cuts, but they were still down 4 percent compared with the year-ago period.

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