Prices of gasoline and diesel products at domestic fuel stations are this week to fall NT$1.1 and NT$1.2 per liter respectively, dropping for the second consecutive week despite an increase in international crude oil prices, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
International crude oil prices fluctuated last week, with the average prices higher than the previous week, amid a mixed bag of positive and negative factors, the companies said.
While market sentiment improved on optimistic expectations of the US-China trade negotiations, concerns over some OPEC+ members’ decision to accelerate oil output next month lingered, they said.
Front-month Brent crude oil futures — the international benchmark — rose 4.27 percent last week to US$63.91 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US benchmark — increased 4.68 percent in the week to US$61.02 per barrel on the New York Mercantile Exchange.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$26.1, NT$27.6 and NT$29.6 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$24.5 per liter at CPC stations and NT$24.3 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
Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (US$7.8 billion) of the city’s currency, according to an alert sent on its Bloomberg page yesterday in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the local currency’s moves within its HK$7.75 to HK$7.85 per US dollar trading band. Heavy sales of the local dollar by
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
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
RSS