DENIAL: The FPCC rejected allegations it was creating an artificial shortage to drive up prices, saying it had been impacted by surging costs amid the Middle East conflict
A Democratic Progressive Party (DPP) lawmaker yesterday called for a government probe into Formosa Petrochemical Corp (FPCC, 台塑石化) over suspected output cuts and possible stockpiling of key petrochemical feedstocks amid a plastics shortage in Taiwan.At a news conference, DPP Legislator Chung Chia-pi
New car sales in Taiwan last month reached 39,318 units, a 78.4 percent increase from the previous month, as the number of working days returned to normal from a mere 14 days in February, market researcher U-Car said in a report yesterday. A renewal of government tax incentives, such as the NT$100,0
Taiwan’s manufacturing purchasing managers’ index (PMI) last month expanded for the sixth straight month, despite the Middle East conflict, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.The gauge came in at 55.4, down 3.1 points from February, but still above the 50
A fund focusing on smaller Taiwanese firms in the artificial intelligence (AI) supply chain has emerged as a big winner, with a diversified strategy helping it weather the volatility that has rattled the industry over the past year.The Nomura Taiwan High Tech Fund run by George Hsieh (謝文雄) has outpe
O-Bank Co (王道商業銀行) yesterday said its exposure to the Middle East remains limited and manageable despite escalating regional tensions, adding that it maintains a cautious but optimistic outlook for this year.The Web-only lender’s holdings related to the Middle East account for only 0.76 percent of i
A picture of Apple founders Steve Wozniak, right, and Steve Jobs is displayed in decor of the garage where it all started, at the new Apple Museum, which traces 50 years of the brand’s innovations, in Utrecht, Netherlands, yesterday.
DISPLAYS TO TRANSMISSION: The company said that its experience with micro LED displays puts it at an advantage as it taps into the micro LED CPO business
Flat-panel maker AUO Corp (友達) yesterday said it is submitting samples of power-efficient micro LED modules to customers in preparation for commercial launch of new advanced packaging copackaged optics (CPO) used in artificial intelligence (AI) data centers.“We believe micro LED-based CPO is very su
GEOPOLITICS: Sentiment had improved from last year, but it shifted abruptly after the blockade in the Middle East, which is a ‘black swan’ event, Evertrust Rehouse said
Taiwanese have turned markedly more pessimistic about the housing market and economic outlook following the closure of the Strait of Hormuz amid escalating Middle East tensions, a survey released yesterday by Evertrust Rehouse Co (永慶房屋) showed.The poll showed that 42 percent of respondents expect ho
Standard Chartered Taiwan on March 26 announced that it has partnered with international fintech firm FinIQ to build an “Automated Structured Products Pricing Platform.” The bank is also introducing products from global issuers including Goldman Sachs Group Inc, Barclays PLC and BNP Paribas SA. The
Cable and connector maker Wonderful Hi-Tech Co (萬泰科技) yesterday said revenue is expected to grow sequentially each quarter this year, with full-year revenue likely to surpass the company’s target of NT$10 billion (NT$312.7 million).The company reported revenue last year grew 6.1 percent year-on-year
TS Financial Holding Co (台新新光金控) yesterday said it is positioned for growth this year, driven by robust global demand linked to artificial intelligence (AI) and stable domestic economic conditions.The group also plans a series of subsidiary mergers to improve its competitive position across banking,
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release.The ministry green-lit the plan for the facility
Taiwanese shares have outperformed their South Korean peers by the widest margin since 2009, underscoring their relative resilience as the Middle East tensions roil markets.Last month, Taiwan’s benchmark TAIEX fell 10 percent, while South Korea’s KOSPI gauge plunged 19 percent. Taiwan’s largest equi
Women perform tea ceremonies at a news conference in Hsinchu County’s Emei Township yesterday. The Tri-Mountain National Scenic Area Administration is to hold a lakeside event on April 18 and 19 in Emei, featuring the making and tasting of locally produced oolong tea, known as Oriental Beauty tea, a
Hon Hai Precision Industry Co (鴻海精密), known internationally as Foxconn Technology Group (富士康科技集團), has increased its investment in a subsidiary in the US, which an industry source said was aimed at expanding artificial intelligence (AI) server production.Hon Hai has invested another US$295 million i
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million.Grab submitted the filing to the Fair Trade Commission on Friday last week, wi
FORECAST: Crude oil prices are highly volatile and could fall to about US$70 per barrel if hostilities in the Middle East end quickly, central bank Governor Yang Chin-long said
Taiwan’s consumer price index (CPI) could rise about 1.9 percent this year, if crude oil prices average US$100 a barrel, central bank Governor Yang Chin-long (楊金龍) said yesterday, signaling that price pressures remain broadly contained for the time being. The central bank on March 19 raised its infl
Taiwan plans to launch a US$250 billion credit guarantee program to support domestic companies investing in the US, part of a broader effort to deepen supply chain cooperation with Washington following conclusion of tariff negotiations earlier this year, National Development Council Minister Yeh Chu
Industrial computer maker Ennoconn Corp (樺漢科技) yesterday said it expects first-quarter revenue to remain flat from NT$34.47 billion (US$1.08 billion) a year earlier, as geopolitical uncertainties, sharp fluctuations in memory supply and prices are likely to defer some orders to the second and third
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