Wholesale fuel prices reduced
Formosa Petrochemical Corp (台塑石化), the nation's second-largest oil refiner, yesterday announced that it has lowered the wholesale price of gasoline and fuel oil from midnight Wednesday.
The company cut the price of wholesale gasoline by NT$0.3 per liter, and that of fuel oil by NT$200 per kiloliter. The adjustment was made after international oil prices fell to a stable level, the company said in a statement.
State-run Chinese Petroleum Corp (中油) later yesterday announced the same price cut on its wholesale gasoline, which went into effect at 10pm yesterday.
Acer raises outlook
Acer Inc has raised its revenue and income targets for next year, based on robust growth this year, the company said yesterday.
Acer set its income target for next year at US$190 million and its revenue target at US$9 billion, up 67 percent and 35 percent respectively year-on-year, Acer said in a statement.
Revenue from Acer's IT-product business is forecast to be US$7.35 billion, up 36 percent year-on-year, accounting for 82 percent of Acer's consolidated revenue.
It after-tax profit target is US$229 million, close to this year's figure owing to fewer stock disposals.
Acer raised its target after its January-to-November revenue hit a record high of NT$205.15 billion (US$6.39 billion), up 47.2 percent year-on-year and surpassing Acer's whole-year target of NT$202.09 billion.
Banana program to continue
The Council of Agriculture (COA) will continue its pilot program next year to allow unrestricted exports of bananas, particularly to Japan.
Since 1974, the Taiwan Provincial Fruit Marketing Cooperative (TPFMC) has been the sole exporter of bananas to Japan -- Tai-wan's largest fruit export market.
Since the number of Taiwan bananas exported to Japan in recent years has declined, the COA decided to allow other organizations to export bananas to areas outside of Japan on a trial basis this year.
The TPFMC will still handle the majority of the Japanese market, but others will come on board to try to expand Taiwan's banana-export footprint in Japan.
Profit-taking caps TAIEX gains
Share prices closed 0.2 percent higher yesterday after profit-taking capped gains on continuing expectations of a liquidity-driven rally in January, dealers said.
The TAIEX closed up 12.37 points at 6,100.86, on turnover of NT$66.89 billion (US$2.1 billion). Decliners led gainers 362 to 331, with 185 stocks unchanged.
Many investors also chose to stay on the sidelines ahead of the central bank's monetary policy announcement.
The central bank later yesterday announced that it was raising its benchmark interest rate for the second straight quarter.
The bank increased its discount rate by one-eighth of a percentage point to 1.75 percent.
NT dollar slightly lower
The New Taiwan dollar fell NT$0.002 to close at NT$31.978 against the US dollar yesterday on the Taipei foreign exchange market. Turnover was US$738 million, up from US$724 million on Wednesday.
The local currency has gained 0.7 percent this month as foreign investors were net buyers of Taiwan's stocks for 13 days, totaling NT$46.4 billion (US$1.45 billion).
The unit is strengthening because the economy "still remains one of the out-performers. As a result, we should see the central bank allow for more appreciation" in the currency, said Craig Chan, an economist at Royal Bank of Scotland in Hong Kong.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
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, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
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 in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
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