Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.4 per liter, after international crude oil prices last week ended a two-week losing streak, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
International crude oil prices rose after US President Donald Trump’s administration imposed fresh sanctions on Iran to curb oil exports from the Middle Eastern country, CPC said in a statement.
In addition, several OPEC+ members submitted output-reduction plans to compensate for producing above their respective quotas since last year, which also helped boost crude oil prices last week, Formosa said in a separate statement.
Front-month Brent crude oil futures — the international benchmark — on Friday increased 4.94 percent last week to US$67.96 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US benchmark — rose 5.17 percent to US$64.68 per barrel on the New York Mercantile Exchange.
Based on CPC’s floating oil price formula, the cost of its crude oil imports rose 1.91 percent last week from a week earlier, the company said.
Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$28.3, NT$29.8 and NT$31.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$26.9 per liter at CPC stations and NT$26.7 at Formosa pumps, the companies said.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
RSS