Gasoline and diesel prices are to increase NT$0.5 and NT$0.6 per liter respectively this week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday, as global crude oil prices last week posted their biggest weekly gain since June.
Gasoline prices at CPC and Formosa stations are to rise to NT$27, NT$28.5 and NT$30.5 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements.
Premium diesel is to cost NT$25.5 per liter at CPC stations and NT$25.3 at Formosa pumps, they added.
The latest adjustments come as oil prices moved higher after US President Donald Trump said meeting with Russian President Vladimir Putin would be a waste of time, and amid concerns over potential global supply disruptions due to new US sanctions on Russia’s two largest crude producers, Lukoil PJSC and Rosneft PJSC, the companies said.
Additionally, a US Energy Information Administration report showed that US commercial crude oil stockpiles posted an unexpected decline for the first time in four weeks in the week ending on Oct. 17, which further supported oil prices, the companies said.
Front-month Brent crude oil futures — the international oil benchmark — last week rose 7.59 percent to settle at US$65.94 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US oil gauge — gained 7.61 percent to close at US$61.5 per barrel on the New York Mercantile Exchange.
Mercuries Life Insurance Co (三商美邦人壽) shares surged to a seven-month high this week after local media reported that E.Sun Financial Holding Co (玉山金控) had outbid CTBC Financial Holding Co (中信金控) in the financially strained insurer’s ongoing sale process. Shares of the mid-sized life insurer climbed 5.8 percent this week to NT$6.72, extending a nearly 18 percent rally over the past month, as investors bet on the likelihood of an impending takeover. The final round of bidding closed on Thursday, marking a critical step in the 32-year-old insurer’s search for a buyer after years of struggling to meet capital adequacy requirements. Local media reports
US sports leagues rushed to get in on the multi-billion US dollar bonanza of legalized betting, but the arrest of an National Basketball Association (NBA) coach and player in two sprawling US federal investigations show the potential cost of partnering with the gambling industry. Portland Trail Blazers coach Chauncey Billups, a former Detroit Pistons star and an NBA Hall of Famer, was arrested for his alleged role in rigged illegal poker games that prosecutors say were tied to Mafia crime families. Miami Heat guard Terry Rozier was charged with manipulating his play for the benefit of bettors and former NBA player and
The DBS Foundation yesterday announced the launch of two flagship programs, “Silver Motion” and “Happier Caregiver, Healthier Seniors,” in partnership with CCILU Ltd, Hondao Senior Citizens’ Welfare Foundation and the Garden of Hope Foundation to help Taiwan face the challenges of a rapidly aging population. The foundation said it would invest S$4.91 million (US$3.8 million) over three years to foster inclusion and resilience in an aging society. “Aging may bring challenges, but it also brings opportunities. With many Asian markets rapidly becoming super-aged, the DBS Foundation is working with a regional ecosystem of like-minded partners across the private, public and people sectors
BREAKTHROUGH TECH: Powertech expects its fan-out PLP system to become mainstream, saying it can offer three-times greater production throughput Chip packaging service provider Powertech Technology Inc (力成科技) plans to more than double its capital expenditures next year to more than NT$40 billion (US$1.31 billion) as demand for its new panel-level packaging (PLP) technology, primarily used in chips for artificial intelligence (AI) applications, has greatly exceeded what it can supply. A significant portion of the budget, about US$1 billion, would be earmarked for fan-out PLP technology, Powertech told investors yesterday. Its heavy investment in fan-out PLP technology over the past 10 years is expected to bear fruit in 2027 after the technology enters volume production, it said, adding that the tech would
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