AMPED ANTICIPATION: The latest Luxgen vehicle, a joint product by Yulon and Foxtron, is set to hit the road on schedule, after awaiting a series of safety testing
Foxtron Vehicle Technologies Co (鴻華先進), an electric vehicle development venture between Hon Hai Precision Industry Co (鴻海精密) and Yulon Motor Co (裕隆汽車), yesterday said it is on schedule to deliver its new electric vehicle, the Model C, but the vehicle’s commercial launch will hinge on the decision of
China Evergrande Group (恆大集團) sold a luxury superyacht for about US$32 million earlier this year, said two sources, further shrinking the developer’s offshore assets as its cash crunch worsened and it scrambled to pull together a debt revamp plan.Evergrande’s offshore bondholders are expected to sha
The US remained Taiwan’s largest debtor last quarter as domestic banks increased stakes in US dollar-based assets to a record high, attracted by their high interest rates, the central bank said on Thursday.As of June, the local banking industry reported international claims of US$549.9 billion, an a
Eurozone inflation fell this month to its lowest level in two years, suggesting the European Central Bank’s (ECB) steady interest rate hikes were succeeding in curbing runaway prices albeit at the cost of economic growth.Consumer prices in the zone rose by 4.3 percent in September, the slowest pace
A wave of supply chain relocation away from China is partly driven by the desire of companies to diversify their geopolitical risks, Tung Tzu-hsien (童子賢), chairman of Taiwan-based contract electronics maker Pegatron Corp (和碩), said on Wednesday.Speaking at the Taiwan Women on Boards Association’s an
A man shops at a makeshift market on the last day of its operation in Taipei yesterday. The new Nanmen Market is scheduled to open next Saturday.
Aiming high: Despite pandemic-related losses, Eslite’s newest location should help the department store regain footing with a potential NT$4 billion in sales
Eslite Spectrum Corp (誠品生活) yesterday held a grand opening for a new department store in New Taipei City’s Sindian District (新店) that is the largest in Asia by floor space and would help the leisure lifestyle services provider swing into profit next year.The new outlet, Eslite Spectrum Sindian, has
submarine cables : With the Kaohsiung plant, Walsin Energy Cable and NKT HV Cables is set to bring in NT$10 billion in investment and create 250 jobs
Walsin Energy Cable System Co (華新能源電纜系統) yesterday broke ground on a new submarine power cable plant in Kaohsiung to help contribute to the localization of Taiwan’s offshore wind industry.The plant, the first of its kind in Taiwan, is expected to be completed in 2025 and become fully operational in
Micron Technology Inc on Wednesday predicted a steeper loss than anticipated in the current quarter, indicating that an industry slump is still weighing on the largest US maker of memory chips.The company projected a fiscal first-quarter loss of as much as US$1.14 a share, excluding some items. Anal
Meta Platforms Inc chief executive officer Mark Zuckerberg on Wednesday said the tech giant is putting artificial intelligence (AI) into digital assistants and smart glasses as it seeks to gain lost ground in the AI race.Zuckerberg made the announcements at the Connect developers conference at Meta’
Alphabet Inc’s Google Pixel is eroding the iPhone’s dominance in Japan as the Apple Inc device gets pricier, finding success after years of misfires.Google phones accounted for a record 12 percent share in the Asian country in the June quarter, six times what it was a year ago, according to Counterp
E.SUN Bank’s “E.SUN ESG Initiative Event” was convened for the third consecutive year in Taipei, Taiwan. President Tsai Ing-wen, Secretary-General Lin Chia-lung, Deputy Minister Yeh Chun-hung of the Ministry of the Environment, and Vice Chairman Chiu Shu-chen of the Financial Supervisory Commission
Visitors attend the interactive Your Planet exhibiton during the Planet Budapest 2023 Sustainability Expo at the Hungexpo Budapest Congress and Exhibition Center in Budapest, Hungary, on Wednesday.
‘BLUE’: Retail and dining revenues grew, while the job market was stable, an official said, as the contraction has lasted longer than that of the 2008 global financial crisis
The government’s business climate monitor last month flashed a 10th consecutive “blue” signal indicating a recessionary state after all economic indicators remained sluggish, although a decline in exports mitigated the situation, the National Development Council (NDC) said yesterday.The total value
The consumer confidence index (CCI) this month shed 0.78 points to 66.73, with all six components weakening in line with a prevalent conservative sentiment, a survey released by National Central University said.Though the retreat is small, poor exports pose a threat that would take a toll on the job
China Steel Corp (CSC, 中鋼) is facing the biggest challenges in the company’s history as a sudden drop in demand is eating into its profitability, chairman Wong Chao-tung (翁朝棟) said on Tuesday. Wong’s comments reversed his previous remarks. A few weeks earlier, Wong said demand would pick up in the s
Cathay Financial Holding Co (國泰金控) yesterday lowered its forecast for the nation’s GDP growth this year from 1.8 percent to 1.3 percent — its second downward revision this year — due to weak exports, slowing capital equipment imports and sagging private investment.Despite the strength of domestic co
CRACKDOWN: Prior to Xu Jiayin’s alleged ‘residential surveillance,’ authorities in Shenzhen earlier this month had arrested several Evergrande employees
The billionaire boss of beleaguered Chinese property developer Evergrande Group (恆大集團) is being held by police, a report said yesterday, as the debt-ridden company grapples with severe financial difficulties.Xu Jiayin (許家印), who is known as Hui Ka Yan in Cantonese, was taken away by authorities earl
The nation’s three major science parks posted combined revenue of NT$1.8 trillion (US$55.8 billion) for the first half of the year, down 11.95 percent year-on-year, the National Science and Technology Council said in a report yesterday.The council attributed the decline to sluggish end-market demand
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