State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would cut gasoline and diesel prices by NT$0.8 and NT$0.9 per liter respectively beginning today, to reflect last week’s fall in global crude oil prices.
CPC said oil prices plummeted before the US Federal Reserve ended a monetary policy committee meeting on Wednesday. The increase in Libyan oil production also depressed international crude prices last week, the company said.
According to CPC’s weighed oil pricing formula, prices dropped to US$51.9 per barrel, down 6.63 percent, or US$3.69, compared with the previous week’s US$55.59 per barrel, CPC said.
After the New Taiwan dollar’s appreciation of NT$0.01 against the US dollar, which helped lower CPC’s import costs, mean domestic fuel prices should decline 5.33 percent this week, CPC said.
Formosa Petrochemical Corp (台塑石化), the nation’s only private oil refiner, on Saturday announced that it would also lower wholesale prices of gasoline and diesel by NT$0.8 and NT$0.9 per liter respectively effective from yesterday.
CPC’s wholesale oil prices will still be higher than those of Formosa Petrochemical’s products, except for its 98-octane unleaded gasoline, which is is NT$0.2 per liter cheaper than Formosa’s.
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
TECH RACE: The Chinese firm showed off its new Mate XT hours after the latest iPhone launch, but its price tag and limited supply could be drawbacks China’s Huawei Technologies Co (華為) yesterday unveiled the world’s first tri-foldable phone, as it seeks to expand its lead in the world’s biggest smartphone market and steal the spotlight from Apple Inc hours after it debuted a new iPhone. The Chinese tech giant showed off its new Mate XT, which users can fold three ways like an accordion screen door, during a launch ceremony in Shenzhen. The Mate XT comes in red and black and has a 10.2-inch display screen. At 3.6mm thick, it is the world’s slimmest foldable smartphone, Huawei said. The company’s Web site showed that it has garnered more than
Demand for artificial intelligence (AI) chips should spur growth for the semiconductor industry over the next few years, the CEO of a major supplier to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said, dismissing concerns that investors had misjudged the pace and extent of spending on AI. While the global chip market has grown about 8 percent annually over the past 20 years, AI semiconductors should grow at a much higher rate going forward, Scientech Corp (辛耘) chief executive officer Hsu Ming-chi (許明琪) told Bloomberg Television. “This booming of the AI industry has just begun,” Hsu said. “For the most prominent
PARTNERSHIPS: TSMC said it has been working with multiple memorychip makers for more than two years to provide a full spectrum of solutions to address AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has been collaborating with multiple memorychip makers in high-bandwidth memory (HBM) used in artificial intelligence (AI) applications for more than two years, refuting South Korean media report's about an unprecedented partnership with Samsung Electronics Co. As Samsung is competing with TSMC for a bigger foundry business, any cooperation between the two technology heavyweights would catch the eyes of investors and experts in the semiconductor industry. “We have been working with memory partners, including Micron, Samsung Memory and SK Hynix, on HBM solutions for more than two years, aiming to advance 3D integrated circuit
RSS