Fri, Oct 18, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

BANKING

Citibank fined for data error

The Financial Supervisory Commission yesterday fined Citibank Taiwan Ltd (台灣花旗) NT$5 million (US$162,967) for a malfunction of its information system in January that caused incorrect account balances to be displayed, inconveniencing more than 10,000 clients. As it was the second time that Citibank Taiwan’s information system has had a major problem — following a logic error that allowed a cardholder to spend more than his credit limit, which resulted in a fine to the bank in November last year — the commission has ordered it to review the systems used by its local operations and at its regional headquarters in Singapore, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) told a news conference in New Taipei City.

INNOVATION

SMEA launches start-up hub

The Small and Medium Enterprise Administration (SMEA) yesterday launched the Start-up Terrace, home to the nation’s innovative businesses in New Taipei City’s Linkou District (林口). Based in what was the athlete’s village for the 2017 Taipei Summer Universiade, the Start-up Terrace houses 132 international and local start-ups and accelerators specializing in various domains. It provides offices, housing, coworking spaces, an exhibition center and other facilities over 59,382m2, SMEA said. The site also provides financial and legal counseling services, as well as access to international mentors, as it aims to become one of the most important start-up hubs in Asia, it said.

REAL ESTATE

Yulon halts development

Yulon Motor Co (裕隆汽車) yesterday said that its board of directors has approved suspending construction of a residential compound in New Taipei City’s Sindian District (新店), as well as reducing the scale of a commercial area in the project. However, it would continue a partnership with Eslite Bookstore (誠品) and Vieshow Cinemas (威秀影城) to develop the commercial area, it said in a filing with the Taiwan Stock Exchange. Yulon said that it could restart development of the residential compound depending on market conditions.

TELECOMS

Far EasTone to offer jobs

Far EasTone Telecommunications Co (遠傳電信) plans to offer about 100 positions in Taipei’s Neihu District (內湖) at a job fair today organized by the Taipei City Government, the company said yesterday. About 40 percent of the job opportunities, including application engineers and cloud-related service developers, would be created to cope with a growing demand for information technology services, the company said. About 30 percent of the positions aim to tackle rising e-commerce business, with the remaining 30 percent for salespersons and retail channel analysts, Far EasTone said.

HEALTHCARE

FDA probing Ispect Biotech

Ispect Biotech Ltd (艾思博生物科技), which makes a plate and screw implant for broken bones, is under investigation for allegedly supplying hospitals with falsely certified products, the Food and Drug Administration (FDA) said on Wednesday. The firm is suspected of falsifying the serial numbers on its products, allegedly using the Good Manufacturing Practice serial numbers of other companies, FDA Director-General Wu Shou-mei (吳秀梅) said. From January to July, 80 hospitals had procured the uncertified implants, which were used on about 70,000 patients, Wu said.

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