StarLux mulls A330 deal
New carrier StarLux Airlines Co (星宇航空) is considering adding wide-body Airbus SE A330 aircraft to its fleet to fly between Taiwan and capital cities in Asia where demand is strong, airline spokesman Nieh Kuo-wei (聶國維) said yesterday. The airline is still evaluating which model of the Airbus A330 and how many of the jets it might procure, with a final decision expected in the middle of next year, Nieh said. The carrier is scheduled to launch commercial services to Macau, Vietnam’s Da Nang and Malaysia’s Penang on Jan. 23, using single-aisle Airbus A321neo aircraft.
Atypical workers on the rise
The number of atypical workers in Taiwan continues to increase, but the pace of growth is slowing, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said. In a national survey released on Thursday last week, the DGBAS said that the number of atypical workers rose 0.67 percent year-on-year to 819,000 in May. Over the past three years, atypical workers accounted for about 7.1 percent of employees in Taiwan, far lower than Japan’s 37.9 percent and South Korea’s 33 percent, DGBAS data showed.
Soil survey budget released
The Ministry of Economic Affairs is to allocate NT$1.7 billion (US$55.7 million) over five years to survey the potential for soil liquefaction across Taiwan, the Central Geological Survey (CGS) said in a statement on Thursday last week. Of the NT$1.7 billion, about NT$300 million is to be allocated for next year, CGS Acting Director Tsao Shuh-jong (曹恕中) said.
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US
CORPORATE SCANDAL: Cathay Life has invested NT$13.3 billion in Bank Mayapada since 2015, but the latest loss of NT$8.8 billion has completely written off its investment Cathay Life Insurance Co (國泰人壽) yesterday said it would recognize an investment loss of NT$8.8 billion (US$298.1 million) in Indonesia’s Bank Mayapada Internasional Tbk PT due to concerns about the lender’s operations amid a corporate scandal. The company said it would revise its earnings result for June, from a net profit of NT$6.52 billion to a net loss of NT$520 million, its first monthly loss over the past 17 months. After booking an investment loss of NT$5.2 billion in Bank Mayapada earlier this year, Cathay Life has so far recognized total investment losses of NT$14 billion in the lender, executive vice president
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported that revenue last month expanded 25 percent annually, but fell 12.8 percent month-on-month to NT$105.96 billion (US$3.59 billion). In the first seven months of this year, the chipmaker’s revenue surged 33.6 percent to NT$727.26 billion, compared with NT$544.46 billion a year earlier. TSMC has said it aims to grow its revenue by more than 20 percent this year. The company has since May 15 stopped taking new orders from Huawei Technologies Co (華為), its second-biggest customer after Apple Inc, due to the US’ restrictions on exports containing US technologies. TSMC has no plans to
The US stock market has been on a tear, yet the country’s economy is in the dumps. So why do so many people believe — undoubtedly incorrectly — that the stock market has decoupled from reality? The economy many people experience, while bleak, is local, personal and, for the most part, either not publicly traded or plays only a small part in the stock market’s moves. To explain why these personal experiences have so little effect on equity markets, we must look more closely at the market role of the weakest industry sectors. The surprising conclusion: The most visible and economically vulnerable