INVESTMENT
Eight projects approved
The Investment Commission yesterday approved eight investment projects totaling NT$25.8 billion (US$885.81 million): two foreign direct investment projects in Taiwan, one investment project in the US and five investment projects in China. The foreign projects are in renewable energy, with GRP III Taiwan UK Ltd buying NT$7.6 billion of stock in New Green Power Co (永鑫能源), a photovoltaic systems company, and Germany-based Yunlin Holding GMB investing NT$2.8 billion in Yunneng Wind Power Co (允能風力發電), the developer of a Yunlin offshore wind farm, the commission said. Formosa Plastics Group (台塑集團) also gained approval to invest NT$5.46 billion in its US-based subsidiary, Formosa Industries Corp (台塑工業美國), it added.
SHIPPING
Yang Ming names new head
Yang Ming Marine Transport Corp (陽明海運) yesterday announced that its board of directors approved the appointment of National Development Council Deputy Minister Cheng Chen-mount (鄭貞茂) as company chairman and CEO from today. Cheng replaces Bronson Hsieh (謝志堅), who retired yesterday. Cheng in 2018 joined the board as a representative of the National Development Fund, which is Yang Ming’s second-largest shareholder, the company said in a statement, adding that Cheng has become familiar with the container shipper’s operations and strategies over the past two years.
ELECTRONICS
Unity Opto to be delisted
LED company Unity Opto Technology Co (東貝光電) yesterday said that its shares are to be delisted from the Taiwan Stock Exchange on Nov. 10, as its book value has fallen into negative territory, a company regulatory filing showed. Unity Opto’s book value fell to minus-NT$5.27 per share by the end of last year due to chronic losses. The debt-ridden firm last year posted losses of NT$7.31 billion, or losses per share of NT$15.86. The company has yet to submit financial statements for this year to regulators.
AUTOMAKERS
Hua-chuang’s Huang retires
Hua-chuang Automobile Information Technical Center (華創車電) vice president Huang Chen-hung (黃振宏) has retired, parent company Yulon Motor Co (裕隆汽車) said in a statement. Hua-chuang Automobile is 100 percent owned by Yulon Motor. Huang’s retirement preceded the creation of an electric-vehicle venture between Yulon Motor and Hon Hai Precision Industry Co (鴻海精密). Hon Hai plans to unveil an outlook and blueprint for the venture on Oct. 16, while Yulon Motor said that the venture is to begin by the end of this year.
ELECTRONICS
Sony unveils 5G Xperia 5 II
Sony Mobile Taiwan has launched its flagship 5G Xperia 5 II smartphone in Taiwan for the price of NT$29,990. The Xperia 5 II builds on the success of the Xperia 1 II 5G, Sony Mobile Taiwan president Jonathan Lin (林志遠) told a launch ceremony on Monday. “The Xperia 1 II 5G was the best-selling flagship Android phone in June, July and August,” Lin said, adding that the two phones’ features mostly share the same specifications, while the Xperia 5 II is smaller and has a 6.1-inch screen. Product marketing manager Jerry Peng (彭浩正) said that the camera can take a string of 20 photographs auto-focused on the eyes, to spontaneously capture the subject’s emotions.
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,”
Meta Platforms Inc offered US$100 million bonuses to OpenAI employees in an unsuccessful bid to poach the ChatGPT maker’s talent and strengthen its own generative artificial intelligence (AI) teams, OpenAI CEO Sam Altman has said. Facebook’s parent company — a competitor of OpenAI — also offered “giant” annual salaries exceeding US$100 million to OpenAI staffers, Altman said in an interview on the Uncapped with Jack Altman podcast released on Tuesday. “It is crazy,” Sam Altman told his brother Jack in the interview. “I’m really happy that at least so far none of our best people have decided to take them
PLANS: MSI is also planning to upgrade its service center in the Netherlands Micro-Star International Co (MSI, 微星) yesterday said it plans to set up a server assembly line at its Poland service center this year at the earliest. The computer and peripherals manufacturer expects that the new server assembly line would shorten transportation times in shipments to European countries, a company spokesperson told the Taipei Times by telephone. MSI manufactures motherboards, graphics cards, notebook computers, servers, optical storage devices and communication devices. The company operates plants in Taiwan and China, and runs a global network of service centers. The company is also considering upgrading its service center in the Netherlands into a
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