Wealth management eyed
The Financial Supervisory Commission is to ease regulations and approve new wealth management programs by the end of this year, Chairman Wellington Koo (顧立雄) said. The move is expected to help banks and stock brokerages develop their wealth management businesses and compete with their peers in Hong Kong and Singapore, Koo said in an interview, which was reported yesterday by major Chinese-language newspapers. He did not elaborate on details of the new programs, saying that the commission would first review existing programs run at local lenders’ offshore and domestic banking units. It might also ease restrictions on structured notes to lure more professional investors, he said.
Export zones to hold fairs
The nation’s export processing zones in Kaohsiung’s Nanzih District (楠梓) and Pingtung County are to offer up to 481 employment opportunities at two job fairs on Friday, the Ministry of Economic Affairs said yesterday. The openings are at 27 companies, including OSE Corp (華泰電子), ASE Technology Holding Co (日月光投資控股), DingZing Corp (鼎基) and Sinpro Electronics Co (星博電子). The fairs would be held separately in Kaohsiung and Pingtung, the ministry said, adding that the vacancies are for jobs such as technicians, production assistants, engineers and managers.
TAIEX slides on chip shares
Local shares yesterday closed below 10,600 points as the semiconductor sector came under pressure, sending ripples through the broader market. Market sentiment remained cautious as investors spotted futures on US equity markets falling amid rising trade tensions between the US and China. The TAIEX ended down 76.64 points, or 0.72 percent, at 10,558.21, on turnover of NT$104.651 billion (US$3.33 billion), Taiwan Stock Exchange data showed. Foreign institutional investors sold a net NT$7.19 billion of shares on the main board, the data showed.
Huaneng could make unit
China Huaneng Group Co’s (華能集團) plan to buy the remaining shares in its Hong Kong-listed wind power subsidiary could be part of an effort to create a new green energy unit. Huaneng Renewables Corp (華能新能源) on Monday said in a filing with the Hong Kong Stock Exchange that the state-owned parent intends to make an offer for all outstanding shares, which could lead to privatization and delisting. If completed, Huaneng Group could consolidate the wind power unit with other assets, including solar farms it aims to acquire through a separate deal, analysts said.
European firms team up
Seven European mobile payment systems yesterday said they are joining forces, in a move seen as an attempt to create a regional standard for smartphone payments that does not require Apple Inc, Google, Visa Inc or Mastercard Inc. Mark Wraa-Hansen, CEO of Denmark’s MobilePay system, said that the European Mobile Payment System Association combines 25 million registered users, about 1 million merchant acceptance points and more than 350 partner banks. The association is to focus on making it possible to use mobile payments seamlessly across Belgium, Germany, Austria, Portugal, Switzerland and four Nordic nations, Wraa-Hansen said. The association, headquartered in Zurich, Switzerland, has not yet spoken with the European Commission.
PLANNED OUT: The government is lifting sale and export restrictions on 60% of the 20 million masks made daily, but people can still make purchases using their NHI cards Twenty thousand boxes of 50 masks each would be on sale at FamilyMart convenience stores starting tomorrow, Taiwan FamilyMart Co Ltd (全家便利商店) said yesterday. A box of 50 masks would cost NT$249 for those with FamilyMart memberships and NT$299 for those without, with no limits placed on how many boxes a person can buy, the company said. Convenience store chain operator Hi-Life International Co Ltd (萊爾富) said that it would also start selling masks from tomorrow. It has yet to announce details about prices and quantity. Hypermarket chain operator Carrefour Taiwan (家樂福) said that it would start selling packs of five
Delta Electronics Inc (台達電), the nation’s leading power management solutions provider, has signed an agreement to acquire Canadian software firm Trihedral Engineering Ltd to bolster its smart production efforts, it said on Saturday. Delta said in a statement that it would acquire Trihedral for C$45 million (US$32.68 million) through its 100 percent-owned subsidiary Delta Electronics (Netherlands) BV. Trihedral specializes in supervisory control and data acquisition (SCADA) and industrial Internet of Things software, which would strengthen Delta’s hardware offerings in fast-growing areas such as automation, artificial intelligence and data analytics, it said. “The collection, monitoring and analyzing of data are critical to Delta’s two
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
BOOSTING BUYING: A source said that the idea of pre-ordering vouchers online is being considered, but the preliminary plan is for people to buy them at post offices A stimulus voucher program to be rolled out next month to boost consumption would be available not only to Taiwanese, but also foreign nationals and Chinese spouses who hold residency permits, a source familiar with the matter said yesterday. The government is fine-tuning the details of the program, which involves issuing vouchers for in-store purchases to revive buying amid the COVID-19 pandemic. During a radio interview on Monday last week, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the plan is to allow anyone, regardless of age or income level, to buy NT$3,000 (US$99.89) worth of vouchers for