CPC calculates its weekly fuel prices based on a weighted formula made up of 70 percent Dubai crude and 30 percent Brent crude. That would have brought the price of 95-octane unleaded gasoline to NT$30.3 per liter. The system was implemented by the Ministry of Economic Affairs to reduce the financial burden on consumers by stabilizing fuel prices at a time when international crude oil prices have been on the rise. It uses 95-octane unleaded gasoline as the benchmark for its price calculations. Under the system, if the price of 95-octane unleaded stays below NT$30 per liter based on CPC’s weekly weighted oil price formula, domestic fuel prices would fluctuate normally.
Religious minorities in Indonesia, especially Christians, have been repeatedly targeted by militants. The family had returned to Indonesia from Syria, where until recently the Islamic State (IS) group controlled significant territory, Karnavian said. A witness described the woman’s attack at the Diponegoro church, saying she was carrying two bags when she arrived. Mangera said three unexploded homemade bombs, two at the Pantekosta church and one at the Diponegoro church, were detonated by a bomb squad. “My thoughts are with all those affected by the attacks in France and Indonesia today.
By Jason Pan / Staff reporterTainan police have arrested a 39-year-old man suspected of killing three elderly family members with a hammer for money. The suspect, Kuo Chun-yi (郭濬毅), was yesterday placed in custody after he was transferred to the Tainan District Prosecutors’ Office. Local police on Friday responded to a call and found three elderly people dead in Tainan’s Nanhua District (南化). The three victims were Lee Hu Mu-nien (李胡木哖), Kuo’s 83-year-old maternal grandmother, and a couple in their late 70s surnamed Lee (李), who were Kuo’s uncle and aunt. The cash that was taken was less than NT$10,000,” said Lin Ching-jung (林清榮), vice captain of the Tainan Police’s Criminal Investigation Section.
While it is facing some difficult races, it is confident about its chances, party sources said. The DPP Central Executive Committee would have to approve the arrangement, but a DPP nominee could be named by the end of the month, if that is the choice. Given that many DPP members disapprove of Ko, the party could be learning toward nominating its own candidate. Chen has said that she would not run for Taipei mayor and that the chances of Lai doing so is slim. The DPP electoral strategy committee last week met with DPP Taipei city councilors, borough wardens and others to discuss the race, according to an anonymous source who attended the meeting.
Staff writer, with CNAHon Hai Precision Industry Co (鴻海精密) on Saturday confirmed that its Internet-focused subsidiary, Foxconn Industrial Internet Co Ltd (FII, 富士康工業互聯網), has received official authorization for an initial public offering (IPO) in Shanghai. The index is being closely watched by foreign institutional investors who are planning investments in emerging markets such as Shanghai. FII is likely to set the listing price at 13.8 yuan, market sources said. Hon Hai is expected to retain a 85 percent stake in FII after the IPO, the original prospectus showed. FII posted 15.87 billion yuan in net profit for last year, up 10.45 percent from a year earlier, while its sales grew 30 percent year-on-year to 354.54 billion yuan.
By Shelley Shan / Staff reporterShipping service operators have expressed concern that the US’ decision to withdraw from the Iran nuclear deal could trigger a further rise in oil prices and raise operational costs. It remains to be seen if Iran’s oil production will be affected by the US’ decision, but the US could increase its shale oil production to help balance oil prices, Hsieh said. It is difficult to estimate the effects from rising oil prices on Yang Ming, as factors such as cargo volume and cargo transportation service prices need to be taken into consideration, Hsieh said. Yang Ming and several other global sea liners last month launched the THE Alliance, which aims to raise the berth utilization rate and lower transportation costs. It last year posted a net profit of NT$320.85 million, compared with a net loss of NT$14.91 billion in 2016.
The thin and light notebooks and gaming models are still performing well, but overall market weakness remains, Quanta vice chairman C.C. Growth momentum in the cloud computing-based server business should remain strong this year, the company said. It predicted double-digit percentage growth in server sales thanks to an increase in orders from major clients. “This means Quanta has chosen to sacrifice short-term margin performance for long-term growth,” he said. KGI revised forecasts for Quanta’s revenue and earnings downward because of the effect of declining sales on its notebook business.
Staff writerYageo Corp (國巨), the nation’s biggest supplier of passive components, reported that net profit increased 583 percent year-on-year to NT$2.61 billion (US$87.7 million) last month, as revenue nearly doubled from the same period a year earlier. Yageo is the largest chip resistor maker in the world, with a 34 percent market share, and the third-largest MLCC supplier. The shortage of passive components is expected to persist into next year, Capital Investment Management Corp (群益投顧) analyst Ray Tsai (蔡睿) said. Therefore, we optimistically expect shortages of MLCCs and chip resistors to persist into next year,” Tsai said in a note on Thursday. “The passive components upcycle is forecast to continue for at least one to two years,” she said.
By Crystal Hsu / Staff reporterChailese Holding Co (中租控股), the nation’s top leasing services provider, is standing by its loan growth target for this year, after first-quarter revenue and profit hit record highs for the period. The Taipei-based company has set its overall loan growth target at 10 percent for this year, whereas loan growth in China and ASEAN markets might see a pickup of 15 to 20 percent from last year. In the first quarter, the company registered loan growth of 11.4 percent in Taiwan, 32.4 percent in China and 21.7 percent in the ASEAN region. In an investment note on Thursday last week, Capital Investment maintained its 12-month target price for Chailease’s shares at NT$125, valuing the stock at 13.75 times its estimated earnings per share of NT$9.09 this year. “We see further upside to the valuation of Chailease,” Capital Investment analyst Sean Yang (楊軒一) said in the note.
Staff writer, with CNAIn a bid to raise the number of Chinese visiting Taiwan, the Ministry of the Interior on Friday proposed reducing the amount they must prove they have in savings by half. The proposal would amend the Regulations Governing the Approval of People of the Mainland Area Visiting Taiwan for Purposes of Tourism (大陸地區人民來台從事觀光活動許可辦法) to lower the amount Chinese need to have in their bank accounts from NT$200,000 to NT$100,000. Most of the people who have been detained for engaging in such activities came as independent tourists, Hsu said. Requiring independent Chinese travelers to provide a copy of their itinerary could help prevent such problems, he said. Hsu rejected concerns that such a requirement would discourage independent Chinese tourists from visiting Taiwan.
By Kuo Chia-erh / Staff reporterChina Synthetic Rubber Corp (CSRC, 中橡), the world’s fifth-largest carbon black supplier, said its board has approved a plan to spin off its carbon black and biotech units, as the 45-year-old company considers transforming into a holding firm. CSRC, a major subsidiary of the nation’s largest cement maker, Taiwan Cement Corp (台灣水泥), said it would remain listed on the local bourse after the move and would rename itself International CSRC Investment Holdings Co Ltd (國際中橡投資控股). CSRC said it plans to inject US$155 million into Continental Carbon India Ltd, which would be used to expand manufacturing capacity of carbon black at the unit’s plants in India’s Gujarat State. As for the US investment, CSRC proposed a capital injection of US$52 million to Continental Carbon Co, headquartered in Houston, Texas, to replenish its operating capital, the filing showed. The firm operates plants in the US, China and India, with a combined capacity of about 790,000 tonnes of carbon black per year, company data showed.
Kaohsiung police and coast guards in March last year intercepted a fishing vessel carrying 1.1 tonnes of contraband cargo. The cargo contained 782kg of hydroxylamine hydrochloride, which was placed in 45 sacks labeled as animal feed, investigators found. The men were convicted for contravening the Narcotics Hazard Prevention Act (毒品危害防制條例), which classifies hydroxylamine hydrochloride as a Category 4 substance. The district court yesterday released a statement to clarify the matter and maintained that there was no mix-upThe 419.28g was a mistake made by a court clerk when transcribing the report for the first ruling, it said. Chang’s and Yang’s sentences were based on the total 782kg of cargo seized, and were given because the two suspects had admitted their crimes and had cooperated with the authorities, it said.
By Rachel Lin and Wu Po-hsuan / Staff reportersNational Taiwan University (NTU) yesterday urged the Ministry of Education to approve the appointment of NTU president-elect Kuan Chung-ming (管中閔), after a provisional school affairs meeting passed a motion supporting Kuan. Kuan was on Jan. 5 elected NTU president and was supposed to take office on Feb. 1. A resolution proposed by NTU agricultural economics professor Jerome Geaun (官俊榮) and NTU psychology professor Hsu Yung-fong (徐永豐) urged the ministry to give Kuan an appointment contract and advised the school to take legal action if the ministry refuses. Two motions launched by NTU economics professor Jang Show-ling (鄭秀玲) and NTU electrical engineering professor Wu Ruey-beei (吳瑞北) sought to start a new election process, but both were voted down. Students waiting outside the meeting room were blocked by staff who said there was no more room, said Kao Shao-fang (高紹芳), NTU student and NTU Presidential Election Reform Front spokesperson.
By Lee I-chia / Staff reporterLast year’s Taipei Summer Universiade displayed the “tough Taiwanese spirit,” Taipei Mayor Ko Wen-je (柯文哲) said yesterday. Ko made the remarks in response to comments by former vice president Annette Lu (呂秀蓮) that Taiwan won many medals in the Games because China’s best athletes did not compete. They held the National Games of the People’s Republic of China at the same time, so all the best athletes stayed in China,” Lu said on a political talk show aired on Thursday evening. Taipei was the host of the Games and Team Taiwan won 26 gold medals, 34 silvers and 30 bronzes, the best Universiade result that the nation had ever achieved. Lu’s remark caused many upset netizens to leave comments on her Facebook page, including some asking her to apologize to Taiwanese athletes for discrediting their efforts, some accusing her of shaming Taiwanese athletes to achieve her political goal of attacking Ko, and others saying her remark would hurt the Democratic Progressive Party’s (DPP) election results in the Nov. 24 nine-in-one elections.
By Chen Yu-fu / Staff reporterPan-green lawmakers slammed the Ministry of Civil Service for failing to recall excess salaries that the government had paid to former and incumbent Chinese Nationalist Party (KMT) officials who doubled as civil servants during the party-state era, as the one-year deadline set by lawmakers in April last year expired on Friday. The Legislative Yuan last year passed an amendment to the Act on the Settlement of the Combination of Years of Service in Public Sector and Political Organizations (公職人員年資併社團專職人員年資計發退離給與處理條例), which stipulates that the ministry should by May 11 this year reclaim overpaid salaries to KMT officials who held public office. The ministry has been unable to reclaim even one cent from the KMT officials over the past 12 months, a source familiar with the matter said on Friday. Democratic Progressive Party (DPP) Legislator Lai Jui-lung (賴瑞隆) accused the ministry of negligence over its failure to ascertain by Friday’s deadline how much the government overpaid the KMT members. He urged the ministry to reclaim the excess payments as soon as possible, saying that its handling of the issue has disregarded last year’s legislation and goes against public expectations.