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Taiwanese tourists propel surge in overseas spending
Following the pandemic, Taiwanese travelers have significantly increased their overseas spending, with credit card expenditures reaching new heights. The Financial Supervisory Commission reports a notable surge in tourism consumption, with Taiwanese visitors leading in Japanese spending.2023/12/10 19:29 -
Profit surges in select industries despite downturns
This news story covers the comprehensive submission of third-quarter financial reports by TWSE-listed companies, with Mutto Optronics Corporation being the only exception. It highlights significant revenue changes in various sectors, including the automotive, financial, and semiconductor industries.2023/11/22 20:42 -
NSB tracks illicit money from China ahead of election
The National Security Bureau (NSB) of Taiwan is actively investigating polling companies suspected of having strong ties with China and engaging in illicit financial activities. Concerns have been raised about potential Chinese intervention in the upcoming 2024 general elections. China’s Taiwan Affairs Office (TAO) has been accused of attempting to influence election results by inviting pro-Kuomintang (KMT) commentators and polling officials to China. There are reports of generative AI technologies being used to spread disinformation through edited viral clips, potentially impacting the elections. Democratic Progressive Party (DPP) legislators have called for offensive counter-espionage techniques to combat these opposing forces. The NSB is working to trace the origins of these financial flows and is closely monitoring the situation. The NSB has also warned that legal action will be taken if any manipulative activity or election fraud is detected.2023/11/08 19:16 -
Launch Technologies reports NT$1.3B losses from factory fire
Launch Technologies Co, a golf ball manufacturer, has announced losses of NT$1.329 billion resulting from a catastrophic factory explosion in late September. The losses include NT$273 million worth of inventory, NT$599 million in property and equipment damages, NT$2.71 million in other asset losses, and NT$455 million as a liability reserve. The company’s third-quarter financial report, approved by the board, reveals total revenues of NT$2.776 billion during the first three quarters. Operations have been suspended following the incident, which is expected to further impact the company’s operations. The factory fire in Pingtung County on September 22 resulted in 10 fatalities and over 100 injuries.2023/11/07 18:31 -
Semiconductor revenue expected to rebound by 11% in 2024
The global semiconductor revenue is projected to drop by approximately 12% in 2023 but is expected to rebound by more than 11% next year, reaching a total revenue of US$550 billion, according to International Business Strategies (IBS). Major semiconductor companies, including Intel Corp, TSMC, and Samsung Electronics, have indicated that the industry downturn has passed. Although Samsung Electronics’ profit for Q3 fell 38%, inventory is returning to normal levels, and oversupply is easing due to production cutbacks. Samsung’s deputy head of the Memory Division suggests that the recovery trend could continue into next year. Despite challenges such as inflation, the war in Ukraine, and clashes between Israel and Hamas, the semiconductor market recovery reflects the resilience of the global economy.2023/11/02 20:42