CPI drops year-on-year
\nConsumer prices continued to fall last month although the headline rate of deflation eased compared with August, the Directorate General of Budget, Accounting and Statistics (DGBAS) said yesterday.
\nLast month's consumer price index fell 0.22 percent year-on-year and was down a seasonally adjusted 0.07 percent from August, when CPI fell 0.59 percent from a year earlier but was up 0.02 month-on-month.
\nIn the nine months to last month, CPI fell 0.31 percent year-on-year.
\nThe wholesale price index rose 0.74 percent from a year earlier but was down a seasonally adjusted 0.53 percent month-on-month, the DGBAS said.
\nThe DGBAS said it is maintaining its earlier forecast of a slight decline in full year CPI and a 0.13 percent year-on-year increase for the three months to December.
\n"For now, we are keeping our August estimate that 2003 CPI is expected to fall 0.09 pct from a year earlier," DGBAS' statistics bureau director Chen Chang-shang (陳昌雄) said.
\nHe said the recent strengthening in the NT dollar will likely add to the deflationary pressures as it will cut the cost of imports.
\nVLSI seminar opens
\nThe 2003 International Symposium on VLSI Technology, System and Applications (2003 VLSI-TSA) opened at the Ambassador Hotel in Hsinchu yesterday with the participation of top scientists and engineers in semiconductor industries in Taiwan and abroad.
\nThe symposium, considered one of the three leading conferences of its kind in the world along with the ones held biannually in Japan and the US, serves as a bridge ushering overseas Taiwanese or foreign scientists and specialists into Taiwan to join the lines of semiconductor research and development and manufacturing industry, said an ITRI official who is co-sponsoring the conference.
\nToday, United Microelectronics Corp (UMC, 聯電) chairman Robert Tsao (曹興誠), MediaTek Inc (聯發科技) chairman Tsai Ming-chieh (
RESTRUCTURING: Taichung and Taoyuan profited most from local firms moving back high-end manufacturing amid the US-China decoupling of trade ties, the ministry said The government’s “Invest in Taiwan” initiative might this year see NT$627.1 billion (US$21.7 billion) of investment pledges realized, with several firms raising stakes and two dropouts due to customer losses, Minister of Economic Affairs (MOEA) Wang Mei-hua (王美花) said yesterday. Wang made the statement at the monthly meeting of the Third Wednesday Club, a local trade group featuring the top 100 firms of each business sector. Since early last year, the government has launched three programs intended to help local companies grapple with US-China trade rows and the COVID-19 pandemic, mainly through moving production lines back to Taiwan. Thus far, the ministry
JOBS AT RISK? Most Cathay Dragon routes are to be operated by Cathay Pacific or a subsidiary, but it was unclear how Taiwanese workers would be affected Cathay Pacific Airways Ltd (國泰航空) yesterday said it is planning new flight services for Taiwan as it announced a corporate restructuring that included the shutdown of its regional subsidiary, Cathay Dragon (國泰港龍), and could lead to job cuts in Taiwan. Cathay Pacific said the shutdown means that the one round-trip service between Taichung and Hong Kong per day and seven round-trip services between Kaohsiung and Hong Kong operated by Cathay Dragon prior to the COVID-19 pandemic would be terminated. “The parent company is planning a new schedule between Taiwan and Hong Kong,” Cathay Pacific assistant manager for corporate communications Moses Hou (侯恩錫)
OVERHEATED MARKET?: The gauge would be designed to provide more reliable information than private-sector data, and help improve policymaking, the council said The National Development Council (NDC) is considering creating a business climate index on Taiwan’s property market, allowing policymakers to better monitor market movements and intervene if necessary, NDC Minister Kung Ming-hsin (龔明鑫) said yesterday. Kung made the remarks at a meeting of the legislature’s Economic Committee where lawmakers from across party lines voiced concerns about housing price hikes driven by capital repatriation. Kung said that the council is assessing the possibility of creating an index designed to provide more accountable and transparent information than data provided by private-sector market analysts, and could help improve policymaking. The council would compile a report on
STOCK MARKETS TAIEX closes slightly higher The TAIEX closed slightly higher yesterday as market sentiment remained cautious over the Nov. 3 US presidential election. Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was again the anchor stabilizing the broader market, preventing the main board from falling into negative territory at the end of the session, dealers said. The TAIEX closed up 14.88 points, or 0.12 percent, at 12,877.25, on turnover of NT$167.982 billion (US$5.81 billion). TSMC, the most heavily weighted stock on the local market, rose 0.44 percent after fluctuating between NT$451 and NT$456. The semiconductor subindex and the bellwether electronics sector