The Chinese National Federation of Industries (
Lin had previously said that he hoped that his dropping out of a re-election bid would set a good example for future chairman, encouraging them to only serve one term.
Ho, 63, is chairman of Tung Ho Steel Enterprise Corp (
Before heading Tung Ho, Ho served as chairman of the government-funded Taiwan Aerospace Corp (
Two new vice chairmen were also elected yesterday to assist Ho. They are Chen Wu-hsiung (
Before the election, both Chen and Pan participated in an ad-hoc coordination task force and successfully sought reconciliation and negotiated for a final choice among several possible candidates competing for the chairmanship. However, they were not expected to take up the posts of vice chairman. Instead, Ho's former rivals Lin Por-fong (林伯豐), president of Taiwan Glass Industry Corp (台玻), and Rock Hsu (許勝雄), chairman of Compal electronics Inc (仁寶) and Taiwan Electrical and Electronic Manufacturers Association (電電公會) were expected to be appointed as vice chairmen.
Hsu will serve as a standing board member while Lin will head the supervisory board.
The business group also reshuffled half of its 45-member board and its 15-member supervisory board.
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
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