Taiwan Cooperative aims to match economic growth
Taiwan Cooperative aims to match economic growthRESTRICTED: The conglomerate’s net income for the first three quarters dropped 6.29% from a year earlier, due to the low interest rate environment, its president saidBy Crystal Hsu / Staff reporterTaiwan Cooperative Financial Holding Co (TCFH, 合庫金控) aims to improve its business next year in line with the nation’s economic growth, but uncertainty related to the COVID-19 pandemic lingers, top executives told an investors’ conference yesterday. A sign displaying the logo of Taiwan Cooperative Financial Holding Co stands outside the company’s headquarters in Taipei’s Songshan District on May 21, 2018. Net interest margin, a critical gauge for the banking industry, stood at 0.966 percent in September, compared with 0.993 percent three months earlier. The lender attributed the retreat to interest rate cuts at home and abroad, as well as competition among its peers to woo customers. Chen said net interest margin showed signs of stabilization last quarter, but added that it is too early to talk about a recovery.
Source:Taipei Times
November 24, 2020 15:56 UTC
The big winners!
Chen Shu-fang (L) won best actress AND supporting actress, and Mo Tzu-yi (R) picked up the Golden Horse Award for best actor. (Photo by Mykonos Chiang)What were the biggest and most surprising wins at this year's Golden Horse Awards? Andrew and Leslie weigh in on some of Taiwan's brightest stars at what's often called the Chinese-language Oscars. Chunghwa Telecom is going to start trial deliveries with DRONES. Almost half of Taiwanese adults are overweight?!
Source:Taipei Times
November 23, 2020 16:52 UTC
T-REC green energy sales exceed 700 million kWh
T-REC green energy sales exceed 700 million kWhBy Angelica Oung / Staff reporterMore than 700 million kilowatt-hours (kWh) of green energy has been sold through the Taiwan Renewable Energy Certificate (T-REC) program, the Bureau of Standards, Metrology and Inspections said yesterday. In addition, the transaction volume also surpassed the bureau’s expectation, bureau division director Huang Chih-wen (黃志文) said. Huang last month told the Taipei Times that the bureau predicted “more than 500 million kilowatt-hours” of green energy would be sold through the T-REC platform by the end of the year. With 113 million kWh of certificates sold through the first batch and 705 million kWh of certificates sold through the second batch, the bureau has surpassed the 500 million kWh prediction. The other notable change is the inclusion of onshore wind in the T-REC system, Huang said, adding that the first batch was entirely solar photovoltaics.
Source:Taipei Times
November 23, 2020 15:56 UTC
Ractopamine not in all US pork, Chen Shih-chung says
Ractopamine not in all US pork, Chen Shih-chung saysDOUBLE-EDGED SWORD: About 80 percent of US pork does not contain the additive, but Taiwanese might reject all US pork, the minister of health saidBy Lee I-chia / Staff reporterNot all US pork contains ractopamine and just because pork contains the additive does not mean it is poisonous, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. Minister of Health and Welfare Chen Shih-chung attends a meeting of the Social Welfare and Environmental Hygiene Committee yesterday at the Legislative Yuan in Taipei. The rally’s organizers said that more than 50,000 people attended the march, although Chen said it was uncertain if that many people opposed ractopamine pork. US pork does not mean pork containing ractopamine, and pork containing ractopamine is not equal to poisonous pork,” he added. Chen said that the government hopes that US authorities would understand that allowing imports of US pork containing ractopamine might not necessarily benefit US pork exports, as Taiwanese consumers might be suspicious of all US pork, including the nearly 80 percent without the additive.
Source:Taipei Times
November 23, 2020 15:56 UTC
Profit momentum at CTBC overseas units continues to slow on bad loans
Profit momentum at CTBC overseas units continues to slow on bad loansOPTIMISTIC OUTLOOK: Net profit at Japanese subsidiary Tokyo Star Bank plunged 85 percent annually as net fee income halved and bad loans increased by 4.8 timesBy Kao Shih-ching / Staff reporterCTBC Bank (中信銀行) yesterday said that its overseas units’ profit momentum continued to slow last quarter, due to bad loans amid the COVID-19 pandemic, but it remains upbeat for next year in light of positive steps in vaccine development. Tokyo Star has been seeing bad loans since the second quarter, after loans to some Japanese hotels and airlines turned sour, said Chiu Ya-ling (邱雅玲), spokeswoman for CTBC Financial Holding Co (中信金控), the parent firm of CTBC Bank. Tokyo Star posted cumulative profits of NT$19 million in the first three quarters of the year, making it the fourth-largest profit generator among CTBC Bank’s overseas units, Chiu said. Their non-performing loan ratio rose to 1.12 percent as of the end of September, compared with 0.48 percent for CTBC Banks’ domestic corporate lending and 0.08 percent for the bank’s personal lending, the data showed. Overall, combined profit generated by its overseas units made up less than 20 percent of CTBC Bank’s total profit for the first three quarters, compared with 30 percent last year, Chiu said.
Source:Taipei Times
November 23, 2020 15:56 UTC
Annual GDP growth set to top 1.8 percent: NDC
Annual GDP growth set to top 1.8 percent: NDCBULLISH: The NDC minister attributed the optimistic projection to 3.33% GDP growth in the third quarter and the ‘better-than-estimated’ performance of exportsStaff writer, with CNAThe National Development Council (NDC) has forecast that annual GDP growth would be more than 1.8 percent this year, thanks to better-than-expected export orders in the fourth quarter. Kung attributed the optimistic projection to 3.33 percent GDP growth in the third quarter and what he described as the “better-than-estimated” performance of exports and export orders so far this quarter. Photo: Peter Lo, Taipei TimesAsked if GDP growth this year could surpass 2 percent, Kung said only that the government is continuing its efforts to boost the economy. Despite the global COVID-19 pandemic, which has adversely impacted economic activity worldwide, Taiwan has so far managed to sustain its economic growth. On Nov. 3, the Taiwan Institute of Economic Research (台灣經濟研究院) increased its forecast for GDP growth this year by 0.80 percentage points to 1.91 percent.
Source:Taipei Times
November 23, 2020 15:56 UTC
Unemployment rate falls for sixth consecutive month
Unemployment rate falls for sixth consecutive monthBy Crystal Hsu / Staff reporterThe nation’s unemployment rate last month dropped to 3.8 percent, falling for the sixth consecutive month, as fewer people quit their jobs, although more people became unemployed due to business downsizing or closures, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The data represented a fractional 0.03 percentage point retreat from one month earlier as the effects of the COVID-19 pandemic continued to subside, but has not disappeared altogether, the statistics agency said. People with junior-high school education had the lowest unemployment rate at 2.66 percent. The unemployment rate was lowest for people aged 45 to 64 at 2.25 percent. Taiwan’s unemployment rate was higher than South Korea’s 3.7 percent and Japan’s 3 percent, but lower than Hong Kong’s 6.6 percent, the report said.
Source:Taipei Times
November 23, 2020 15:56 UTC
Taiwan and US sign MOU for annual economic talks
Taiwan and US sign MOU for annual economic talksLAYING A FOUNDATION: A petition signed by 50 US senators calling for a trade agreement signaled strong support for Taiwan, the minister of foreign affairs saidBy Wu Su-wei and William Hetherington / Staff reporter, with staff writerTaiwan and the US signed a five-year memorandum of understanding (MOU) to establish annual economic talks, which could be extended another five years, Minister of Foreign Affairs Joseph Wu (吳釗燮) said yesterday. Minister of Foreign Affairs Joseph Wu speaks during a news conference at the Executive Yuan in Taipei yesterday. “This memorandum is a foundation on which the US and Taiwan can expand economic cooperation,” he said. US Secretary of State Mike Pompeo initiated the Economic Prosperity Partnership Dialogue with Taiwan to bolster cooperation. The talks follow repeated calls from Washington and Taipei for negotiations over a formal trade deal.
Source:Taipei Times
November 21, 2020 15:56 UTC
Taipei tourism bid led by Tshing Shan Festival
Taipei tourism bid led by Tshing Shan FestivalBy Cheng Ming-hsiang and Dennis Xie / Staff reporter, with staff writerThe Tshing Shan Festival — one of the three biggest temple festivals in Taipei — is to be held on Dec. 4, as the city government lines up several special events over the next four months in a bid to boost local tourism. To mark its 165th anniversary, the temple has expanded the scale of the festival in cooperation with the Taipei City Government and the General Association of Chinese Culture, Huang said. Taipei Deputy Mayor Tsai Ping-kun, center right, Qingshan Temple chairman Huang Ching-yuan, center left, and representatives of other temples from across Taiwan attend the opening of the Tshing Shan Festival in Taipei on Tuesday. Other Wanhua festivals include the West-Taipei Life Festival — which started on Thursday and runs through Dec. 6 — and the Taipei Lantern Festival, Taipei Deputy Mayor Tsai Ping-kun (蔡炳坤) said. The West-Taipei Life Festival highlights local temples.
Source:Taipei Times
November 21, 2020 15:56 UTC
Commission celebrates life of ‘mother’ of modern dance
Commission celebrates life of ‘mother’ of modern danceBy Chen Yun and Jason Pan / Staff reportersThe National Human Rights Commission yesterday honored the “mother of Taiwanese modern dance,” Tsai Jui-yueh (蔡瑞月), who was imprisoned by the Chinese Nationalist Party (KMT) regime during the White Terror era. The commemoration, held at the Tsai Jui-yueh Dance Research Institute in Taipei, comes ahead of the UN’s International Day for the Elimination of Violence Against Women on Wednesday next week. National Human Rights Commission chairwoman and Control Yuan President Chen Chu, front row fourth left, and others yesterday hold signs and wear purple to raise awareness about violence against women at a commemoration ceremony in Taipei. A documentary on Tsai’s life was shown at the commemoration, with many in attendance wearing purple ribbons to raise awareness about violence against women. “We must pursue human rights at all times.
Source:Taipei Times
November 21, 2020 15:56 UTC
KMT blocks Su again over pork
During the administration of former president Ma Ying-jeou (馬英九) of the KMT, the Democratic Progressive Party (DPP), then in opposition, strongly opposed the import of US pork containing the leanness-enhancing feed additive. However, President Tsai Ing-wen (蔡英文) of the DPP on Aug. 28 announced that the government would lift the bans on US pork containing traces of ractopamine and US beef from cattle more than 30 months old. “As we’ve stated multiple times over the past three months, the KMT is concerned about public health and is against the decision to allow imports of US pork containing ractopamine,” Lin said. The DPP’s former staunch opposition to pork containing leanness-enhancing feed additives is at odds with its Aug. 28 announcement, Lin said. Meanwhile, the KMT yesterday held a news conference in front of the Legislative Yuan to publicize the annual “Autumn Struggle” labor protest march tomorrow.
Source:Taipei Times
November 20, 2020 15:56 UTC
‘New residents’ coalition launched
‘New residents’ coalition launchedFORCE FOR TAIWAN: ‘New residents’ are the bridges to link with their home nations, becoming the advance guard for international diplomacy, Lo Mei-ling saidBy Huang Hsin-po and Jason Pan / Staff reportersDemocratic Progressive Party (DPP) Legislator Lo Mei-ling (羅美玲) yesterday launched a coalition to advocate rights protection and improved welfare programs for “new residents” of Taiwan, many of whom had acquired citizenship through marriage to a Taiwanese. Lo said that she had received much help and support from across the political spectrum ahead of the inauguration of the Taiwanese New Immigrants’ Rights Advocacy Alliance of the Legislative Yuan. Malaysia-born Lo said that the alliance is needed because the number of “new residents” had reached 560,000, or nearly 1 million when combined with their children who were born in Taiwan. “We want ‘new residents’ who live in Taiwan to have security and happiness for their families, as they are the bridges for Taiwan to link with their home nations, becoming the advance guard for the government’s international diplomacy,” Lo said. I always remind officers in the immigration agency to treat them just like they are Taiwanese,” Minister of the Interior Hsu Kuo-yung (徐國勇) said.
Source:Taipei Times
November 20, 2020 15:56 UTC
FSC mulls more policies to shore up the NT dollar
The central bank advised the bureau to raise the limit to 45 percent, so insurers could sell more US dollar-denominated policies, which would increase demand for the US dollar and slow the strong NT dollar, bureau Director-General Shih Chiung-hwa (施瓊華) told reporters by telephone yesterday. If the commission decides to raise the ceiling, it would ask life insurers to inform policyholders of the foreign-exchange risks, she added. For example, it is economical for people to exchange local currency into the greenback to pay their US-denominated premiums, as the NT dollar has remained strong, but if the NT dollar weakens, the foreign-exchange rate would no longer favor policyholders, the official said. The NT dollar yesterday closed lower at NT$28.82, approaching the central bank’s reported defense threshold of NT$28.50. “That would be too big of a change, as life insurance companies invest tens of trillions of NT dollars overseas,” Shih said.
Source:Taipei Times
November 20, 2020 15:56 UTC
Central bank meets lenders as property lending soars
Central bank meets lenders as property lending soarsBy Crystal Hsu / Staff reporterThe central bank met with eight local lenders on Thursday to call for restraint in real-estate financing, which approached a record high in September, sparking concern that it might drive up property prices. The central bank in Taipei is pictured yesterday. “Lenders must take up their social responsibility and guide funds to real investment that can create job opportunities and boost income rather than overly concentrating on property lending,” the bank said. Central bank Deputy Governor Chen Nan-kuang (陳南光) has several times expressed concern over the formation of a property bubble and pressed for pre-emptive measures to reverse the trend. The central bank said it has sent officials to visit lenders to see if they exercise due caution when handling real-estate loan requests.
Source:Taipei Times
November 20, 2020 15:56 UTC
Tainan tackles mental illness with art therapy
Tainan tackles mental illness with art therapyBy Wu Chun-feng and Kayleigh Madjar / Staff reporter, with staff writerChi Mei Medical Center and Chimei Museum in Tainan on Tuesday said that they are seeking to help people in the area regain confidence through art therapy classes as prejudices grow in tandem with sensationalized media reports. At an event at the museum, Tainan Public Health Bureau senior specialist Wu Chao-hui (吳昭慧) called on people to support and accept the 9,678 city residents who are under supervision because of a mental illness. Lin Ya-chi, an assistant at the Chimei Museum in Tainan, on Tuesday displays works of art created by people with schizophrenia. Art therapy is a good technique to help people with schizophrenia, as they can express themselves without language, Chang said. Art is at its essence medicine for society, Kuo said, adding that aside from offering art education resources, the museum also strives to bring art into everyday life.
Source:Taipei Times
November 20, 2020 15:56 UTC