However, due to the popularity of the scheme, the NT$20 billion allocated to the action plan has already been exhausted. As a result, a second edition of the plan, or Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan 2.0, one of the three plans approved, was drafted. The new plan promises an additional NT$500 billion in subsidies to overseas businesses returning to invest in Taiwan. Meanwhile, the other two plans approved seek to extend the benefits to large businesses that have remained in Taiwan, as well as small and medium-sized enterprises. The two groups are to be offered NT$80 billion and NT$20 billion in subsidies respectively.
The two leaders held talks after Xi’s arrival in the North Korean capital, China Central Television (CCTV) reported. North Korean state media had not yet given its account of the discussions. Xi has hosted Kim in Beijing before both of the North Korean leader’s meetings with Trump. The pair agreed at that meeting to “work toward complete denuclearization of the Korean Peninsula,” without defining what that meant or setting deadlines. While China says it supports a nuclear-free Korean Peninsula, it advocates a phased approach similar to Kim’s position.
Staff writer, with CNAIn anticipation that China will try to meddle in next year’s presidential election, the US has started dialogue with Taiwan to help strengthen its ability to deal with the issue, a US official said on Wednesday. “There’s no question in our minds that China will try to meddle, as it has done in every previous election,” Schriver said. Ahead of the 2000 presidential election, Beijing resorted to verbal threats, with Zhu warning voters not to vote for then-Democratic Progressive Party candidate Chen Shui-bian (陳水扁). Taiwan is described as a beacon of democracy, which means that any Taiwanese younger than 35 has “democratic DNA,” he said. After the forum, Moriarty told reporters that China should make sure its attempts to resolve cross-strait issues are acceptable to the people on both sides of the Taiwan Strait.
“We do not oppose the strike organized by flight attendants, but neither do we support it. After failing to reach an agreement on daily allowances and a “free-rider clause” banning non-union members from benefits enjoyed by union members, the union announced that EVA flight attendants would go on strike starting at 4pm. EVA should stipulate as soon as possible regulations governing the distribution of compensation to travel agents and customers, the association said. It should also assign a team to assist travel agents in handling customer-related issues, it said. “The association and travel agents would assist travelers in switching to other carriers during the strike.
Staff writer, with CNATwo Royal Canadian Navy vessels transited through the Taiwan Strait, the Canadian Trade Office in Taipei confirmed yesterday, adding that such passages were in line with its long-term naval practices and international law. The Ministry of National Defense on Wednesday said that a number of Canadian warships had recently sailed through Strait, a rare move by a non-US military vessel. “The most practical route between Cam Ranh Bay and northeast Asia involves sailing through the Taiwan Strait. Transit through the Taiwan Strait is not related to making any statement,” the trade office said. The HMCS Calgary, HMCS Chicoutimi and HMCS Vancouver operated throughout the Asia-Pacific region last year and during those activities the Calgary made a transit through the Strait in October, the office said.
AFP, BEIJINGChinese Premier Li Keqiang (李克強) yesterday vowed to further open up China’s economy during a meeting with chief executive officers of top global companies held amid simmering trade tensions with the US. Washington and other trade partners have long complained about the uneven playing field foreign companies encounter in China, theft of intellectual property and entry barriers that allow state-backed companies to dominate crucial sectors of the economy. During the meeting in Beijing with heads of 19 multinational companies, Li pledged to make China more attractive to foreign investors. “We welcome more and more foreign investment to come to China,” Li told the group representing the Global CEO Council. Schneider Electric SE CEO Jean-Pascal Tricoire told Li that foreign firms are the “best bridges” between China and the rest of the world.
By Kao Shih-ching / Staff reporterThe Taiwan Stock Exchange (TWSE) plans to require listed companies to disclose all information related to their subsidiaries’ initial public offerings (IPOs) in overseas markets, TWSE spokeswoman Rebecca Chen (陳麗卿) said on Wednesday. The move aims to increase transparency and protect the interests of listed companies’ shareholders, she said. TWSE’s board of directors on Tuesday approved amendments to regulations on listed companies, Chen said. However, CPT shareholders were mostly uninformed about the arrangement, New Power Party Legislator Huang Kuo-chang (黃國昌) has said. “Companies are free to make any promise in any market, but it matters if their actions affect their parent company’s profitability.
By Kwan Shin-han / Staff reporterTong Yang Industry Co Ltd (東陽實業), which manufactures bumpers and automotive sheet metal, expects sales to improve this year as it continues to expand its aftermarket business by investing in lightweight products, automated manufacturing and new molds for auto parts. Due to promising prospects for plastic auto parts used in electric and hybrid vehicles, Tong Yang would focus on lightweight products, it said. North America remained the largest market for Tong Yang products, contributing 66 percent of total sales last year, company data showed. Tong Yang said that it has invested in Chinese auto parts manufacturer FAW Group Co Ltd’s (一汽富維) factories in Qingdao and Tianjin, which produce bumpers and lightweight auto parts, and has started to see sales and earnings contribution this year. Tong Yang’s product portfolio includes bumpers, grilles, hoods, fenders and cooling products.
The move comes with Silicon Valley firms under pressure over the spike in real-estate prices, lack of affordable housing and growing homeless problem in the San Francisco Bay Area. Google had previously invested in housing in areas where it has operations, Pichai said. “Today we’re announcing an additional US$1 billion investment in housing across the Bay Area,” Pichai said in a blog post. “We hope this plays a role in addressing the chronic shortage of affordable housing options for long-time middle and low-income residents.”Google also pledged a US$250 million investment fund providing incentives to build at least 5,000 affordable housing units across the market. Microsoft Corp, based in Seattle, has pledged US$500 million for a similar initiative.
By Lisa Wang / Staff reporterAsia Pacific Telecom Co (APT, 亞太電信) yesterday said that it was gearing up for the 5G spectrum auction in December and is seeking capital to fund its 5G network deployment. The shareholder was concerned that since APT was still making losses and paying hefty depreciation and amortization costs, the 5G investment would add another financial burden. APT “will definitely bid” for 5G bandwidth during the first round, Lu said. APT is arranging another syndicated loan and preparing for the issuance of new shares to finance its 5G deployment, Lu said, declining to specify how much it would need. APT has gone one step further in its 5G efforts by completing a data fiber-optical deployment nationwide to deliver data on fixed and wireless networks, he said.
BloombergTesla Inc is revamping its organization in Asia to put more focus on China as the company prepares to start manufacturing in the world’s largest electric car market, people familiar with the matter said. Tesla CEO Elon Musk is betting on China, Tesla’s biggest market after the US, to boost sales and restore investor confidence that has slumped along with the company’s stock this year. The Asia-Pacific region’s other teams would report to Tesla’s head office in Palo Alto, California, they said. FINANCIAL INCENTIVEThe need for Tesla to expand beyond the US was highlighted by its latest quarterly results, which missed analysts’ projections. Tesla shares on Tuesday climbed as much as 4.3 percent, but the stock is still down 32 percent this year.
By Kwan Shin-han / Staff reporterConsumer electronics maker Sampo Corp (聲寶) yesterday said that it expects sales to improve in the second half of this year on the back of new product launches and a government stimulus package to boost demand. Domestic demand for home appliances has weakened following the government’s pension reforms, as consumers have become more conservative on spending, the company said. Sampo plans to introduce new home appliances, such as fans and air-conditioners, as summer approaches, Sampo spokesman Chiang Chuan-tien (江全田) told the Taipei Times by telephone. Sampo plans to redevelop the land in Linkou to keep with the government’s industrial development plan, it added. That was a dividend yield of 8 percent based on the stock’s closing price of NT$17.5 in Taipei trading yesterday.
Other lawmakers demanded hearings and questioned whether the coin, called Libra, would have appropriate oversight. “Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data,” Waters said in a statement. “We look forward to responding to lawmakers’ questions as this process moves forward,” a Facebook spokeswoman said. However, like others, he did not identify a particular watchdog, perhaps signaling uncertainty over who might police Libra. States and banking regulators such as the US Federal Reserve could potentially have a role in regulating Libra.
By Natasha Li / Staff reporter, in KAOHSIUNGChina Steel Corp (CSC, 中鋼) yesterday said that it is cautious about the third quarter, as a sluggish global economy has dragged down market demand since the fourth quarter of last year amid a lingering US-China trade conflict. Wong said that he is also confident about the fourth quarter due to more Taiwanese companies relocating back to Taiwan, in particular those specializing in routers and servers, which would drive up demand for laminated products. CSC reported net profit of NT$4.14 billion (US$132.06 million) for the first quarter, down 24.11 percent from NT$5.46 billion in the same period last year. The decline in earnings was mainly due to rising raw material costs and higher tariffs, CSC president Lin Horng-nan (林弘男) said. Wong, who represents the Ministry of Economic Affairs, was also reappointed as chairman at a subsequent board of directors meeting.
By Diane Baker / Staff reporterTwo dance programs in Taipei this weekend focus on questions of identity, experimentation and creation. 2 WHEN: Tomorrow and Saturday at 6pm, Saturday and Sunday at 1pm WHERE: 濕地 venue B1, No. The question it poses is how does an artist recreate a new identity for themselves? Regardless, it is firmly attached to the Warhol brand, and fits neatly into today’s selfie and Instagram-obsessed culture. The four artists are Chen Chiu-yen (陳秋燁), Shi Yu-che (施豫澤), Lu Yi-chieh (陸伊潔) and Palmer Mathews.
June 19, 2019 16:03 UTC