Taiwan Economic News articles from October 2008

Taiwan Economic News archives from October 2008

Gov't Offering Five-Year Tax Holiday to All Investment Projects.
October 31, 2008... Taipei, Oct. 31, 2008 (CENS)--The Executive Yuan (the Cabinet) resolved yesterday (Oct. 30) to extend five-year tax holiday to almost all investment projects during the period from July this year to December next year. The resolution involves...

CBC Cuts Policy-Interest Rates by 0.25 Percentage Point.
October 30, 2008... Taipei, Oct. 30, 2008 (CENS)--On the heels of the 0.5 percentage-point cut on the federal-fund rate by the Fed on Wednesday, Taiwan's Central Bank of China (CBC) announced a 0.25 percentage-point cut on policy-interest rates this morning...

Some Listed Firms Buying Back CBs to Cut Long-Term Liabilities.
October 29, 2008... Taipei, Oct. 29, 2008 (CENS)--Amid jittery mood plaguing the financial market, a number of listed companies have decided to buy back convertible bonds in advance from the market, a move which can enable them to list profits on their books,...

Stock Market Facing Extensive Margin Calls.
October 28, 2008... Taipei, Oct. 28, 2008 (CENS)--With the Taiex index shedding another 212 points and closing at 4,366 yesterday (Oct. 27), Taiwan's stock market is facing extensive margin calls, which will trigger further sell-off of stocks. Yesterday's sharp...

FSC Resumes 7% Limit on Share-price Drop in Taiwan.
October 27, 2008... Taipei, Oct. 27, 2008 (CENS)-The Financial Supervisory Commission (FSC) announced Oct. 26 to resume the 7% daily limit on stock price drop on Oct. 27, ending the provisional measure of halving it to 3.5% enforced two weeks ago. To bolster the...

Limiting Share Volatility in Taiwan Sparks Liquidity Woes in Market.
October 24, 2008... Taipei, Oct. 24, 2008 (CENS)-Aiming to ease the impact of the global financial tsunami on the share price volatility in Taiwan, limiting by the authorities the daily price falls to half or 3.5%, however, has sparked a liquidity problem, as...

Taiwan's Unemployment Rate Hits Four-year High in September.
October 23, 2008... Taipei, Oct. 23, 2008 (CENS)-Due to massive layoffs from business closures, Taiwan's unemployment rate hit 4.27% in September, up 0.13 of a percentage point from August for a four-year monthly high, said the Directorate General of Budget,...

Dai-ichi of Japan to Inject NT$8 B. of Fresh Fund into Shin Kong.
October 22, 2008... Taipei, Oct. 22, 2008 (CENS)-Swept by the global financial tsunami, Shin Kong Financial Holding, Taiwan's third largest life insurer, will receive an injection of NT$8 billion of fresh fund from its long-term partner the Dai-ichi Mutual Life...

Fubon Poised to Be 3rd-largest FHC After Acquiring ING Antai.
October 21, 2008... Taipei, Oct. 21, 2008 (CENS)-BY acquiring ING Antai Life Insurance into its portfolio, Fubon Financial Holding is poised to be Taiwan's third-largest financial holding company, nudging out Taishin Financial Holding and Mega Financial Holding,...

Fubon FHC's Buyout of AIG Antai to Up It to 4th in Life Segment.
October 20, 2008... Taipei, Oct. 20, 2008 (CENS)-Fubon Financial Holding announced on Oct. 20 the acquisition of ING Antai Life Insurance for US$600 million (NT$19.5 billion, at US$1=NT$32.5), a move which will elevate Fubon's ranking in the domestic life...

Formosa Plastics Group Founder Y.C. Wang Passes Away at 92.
October 17, 2008... Taipei, Oct. 17, 2008 (CENS)--Y.C. Wang, founder of Formosa Plastics Group, Taiwan's largest business conglomerate, died of heart and lung failure at his New Jersey residence at 9:38 a.m. of Oct. 15, U.S. time, at the age of 92. Morris Chang,...

Financial Institutions Allowed Not to List Huge Financial Loss in Q3 Income Statement.
October 16, 2008... Taipei, Oct. 16, 2008 (CENS)--In accordance with the resolution of the International Accounting Standards Board (IASB), the Accounting Research Development Foundation decided yesterday (Oct. 15) to allow domestic financial institutions to...

Financial Institutions May Not Have to Reflect Their Huge Loss in Income Statements.
October 15, 2008... Taipei, Oct. 15, 2008 (CENS)--To help stabilize the financial market, the Financial Supervisory Commission (FSC) may allow domestic financial institutions not to reflect their staggering financial loss in their income statement by permitting...

CEPD to Cut Forecast Growth of Taiwan's Economy in 2009.
October 14, 2008... Taipei, Oct. 14, 2008 (CENS)--Due to the aftereffect of the global financial tsunami, Taiwan may not be able to realize the 5.08% economic growth next year forecast by the Directorate General of Budget, Accounting, and Statistics (DGBAS),...

Gov't Announces Trio Market-Bolstering Measures.
October 13, 2008... Taipei, Oct. 13, 2008 (CENS)--To alleviate the impact on the Taiwanese stock market of global market crash on the Taiwan's Double Ten (Oct. 10) National Day last Friday, the Executive Yuan (the Cabinet) announced three measures last night...

CBC Cuts Interest Rate Along With the World's Major Central Banks.
October 9, 2008... Taipei, Oct. 9, 2008 (CENS)--In tandem with the move of the world's major central banks, the Central Bank of China (CBC) announced today (Oct. 9) to cut Taiwan's policy interest rates by 0.25 of a percentage point, effectively immediately. As...

Gov't to Provide Full Protection to All Deposits.
October 8, 2008... Taipei, Oct. 8, 2008 (CENS)--With Taiwan's financial market facing a systematic risk and the danger of domino effect, Premier Liu Chao-shiuan announced yesterday (Oct. 7) providing full protection to all deposits at local financial...

Taiwan Exports 17.3% More Machine Tools in First Seven Months.
October 8, 2008... Taipei, Oct. 8, 2008 (CENS)--Taiwan exported US$2.24 billion worth of machine tools in the first seven months of this year, for an annual growth of 17.3%, according to customs-cleared statistics compiled by the non-profit Taiwan Machine Tool...

CBC Governor Proposes Setting Up a National Investment Holding Firm.
October 7, 2008... Taipei, Oct. 7, 2008 (CENS)--The government should transform the existing NT$100 billion national development fund into a national investment holding company and inject more funds into the company by issuing government bonds or corporate...

2008 Taiwan Business Alliance Conference Kicks Off Today.
October 6, 2008... Taipei, Oct. 6, 2008 (CENS)--Over 10 foreign enterprises are going to sign letters of investment intent with the Ministry of Economic Affairs (MOEA), highlighting the two-day 2008 Taiwan Business Alliance Conference which will kick off today...

Gov't Leans Towards Slashing Inheritance/Gift Taxes to 10%.
October 3, 2008... Taipei, Oct. 3, 2008 (CENS)--To induce the return of overseas Taiwanese funds, the government appears to lean towards slashing the inheritance and gift tax rate to 10%, down from the existing 50% A scholar attending a meeting of the tax...

FSC and MOJ to Coordinate Actions Against Insider Trading.
October 2, 2008... Taipei, Oct. 2, 2008 (CENS)--The Financial Supervisory Commission (FSC) and the Ministry of Justice (MOJ) announced yesterday (Oct. 1) the establishment of a joint working panel to coordinate the legal actions against insider trading, in...

Taiwan Consumer Confidence Index Bottoms in September.
October 2, 2008... Taipei, Oct. 2, 2008 (CENS)--Taiwan's consumer confidence index (CCI) hit the third consecutive monthly record low of 54.32 points in September, and the six key factors that supported the confidence all posted a downward trend, according to a...

FSC Bans Short Sale Temporarily.
October 1, 2008... Taipei, Oct. 1, 2008 (CENS)--To bolster the Taiwanese stock market, the Financial Supervisory Commission (FSC) announced last night banning short sale and intraday trading for two weeks, starting today (Oct. 1) through 14. Wu Tang-chieh, vice...