Leading kitchen appliance and water heater supplier Taiwan Sakura Corp (台灣櫻花) is to invest NT$1.3 billion (US$41.56 million) in Taiwan, the Ministry of Economic Affairs said yesterday as it approved the firm’s application along with five others to invest back home.
Taiwan Sakura, which operates three manufacturing facilities in Taichung’s Shengang (神岡), Daya (大雅) and Wufeng (霧峰) districts, said earlier this year that it would set up another plant in Wufeng to handle rising demand.
The company’s investment plans show that Taiwan Sakura is to renew machinery equipment and introduce automated production systems at its Shengang and Daya plants, the ministry said, adding that the investment is expected to provide about 30 job opportunities.
Tire maker Federal Corp (泰豐輪胎) plans to invest NT$3.2 billion as it aims to relocate its Chinese production to Taiwan by setting up a plant at the Taoyuan High-Tech Industrial Park (桃園科技工業園區), which is expected to provide about 258 new jobs, the ministry said.
TSRC Corp (台橡) is to expand its production line of high-end shoe materials at its plant in Kaohsiung’s Gangshan District (岡山).
Cosmetics company Luo Lih-Fen Holding Co (羅麗芬控股) is to invest NT$1.4 billion in a plant and a laboratory in New Taipei City through its biotech unit in cooperation with Tzu Chi Hospital, the ministry said.
Sysgration Ltd (系統電子), which provides industrial Internet of Things solutions, automotive electronics and energy storage systems, plans to add an automated production line at its plant at the Nantou Nangang Industrial Park (南投南崗工業區) to reduce costs, as the company ships 92 percent of its China-made products to the US, the ministry said.
The company plans to invest NT$400 million and provide up to 400 job opportunities, the ministry said.
P-Duke Technology Co (博大科技), which specializes in the production and sales of DC/DC converters and related products, plans to invest more than NT$1.2 billion by setting up a new plant at the Taichung Industrial Park (台中工業區) and recruiting 230 people, the ministry said.
Since the program was launched at the start of this year, a combined NT$576.7 billion in investments from 129 companies has been approved, providing up to 50,609 job opportunities, the ministry said.
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
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