Taiwan News Morning Headlines - January 17
Taiwan News
2014-01-17 09:04 AM
Market & Commodity

Taiwan stock market (TAIEX) opened higher at 8,628 points, up 16 points, or 0.19 percent, on turnover of NT$2.52 billion.

■ Stocks are ending mostly lower after several companies turned in disappointing earnings news, including Best Buy, Citigroup and the railroad operator CSX. The Dow Jones industrial average fell 64 points, or 0.4 percent, to 16,417 Thursday. The Standard & Poor's 500 index fell two points, or 0.1 percent, to 1,845. The Nasdaq composite edged up almost four points, or 0.1 percent, to 4,218. (AP)

■ The price of oil edged lower Thursday. Benchmark U.S. crude oil for February delivery slipped 21 cents to close at $93.96 a barrel on the New York Mercantile Exchange. Gold for February delivery rose $1.90, or 0.2%, to settle at $1,240.20 an ounce on the Comex division of the New York Mercantile Exchange. (AP)

World News

■ The U.N. human rights office says that a "soaring" number of executions in northern Syria could amount to war crimes. (AP)

■ Floods and landslides resulted from the torrential rains in a northern central Indonesian province killed at least 13 people and forced 40,000 to leave from their homes to temporary shelters and that moreover, two people remain missing, the government’s disaster agency said Thursday. (AP)

■ Faced with increased demand for power, Vietnamese Government must develop the 1st nuclear construction as soon as possible, however, amid concerns over safety and efficiency, Vietnam Government decided to delay the first nuclear power plant to Russian companies. (AP)

■ Intel posts 6 pct rise in 4th-qtr net income, falls slightly short of Wall Street predictions. American Express says its net income more than doubled in the fourth quarter, as its cardholders boosted spending and borrowing during the holiday season, in line with analysts' expectations. (AP)

■ European car sales dropped for the sixth straight year in 2013, but there were signs of improvement. (AP)

Local News

■ Confronted with continued problems in the roll-out of a new toll system for the nation's network of highways despite weeks of excuses and apologies from installer FETC, Premier Jiang Yi-huah told a Cabinet meeting Thursday morning that more drastic measures are in order. Jiang ordered the Ministry of Transportation and Communications to apply administrative punishments to the Freeway Bureau for its role in the toll system. (Taiwan News)

■ The Lord Mayor of the City of London finished her two-day visit in Taipei Wednesday. During her visits with some high-ranking officials in Taiwan, she expressed concern over Taiwan's tight regulation over financial products and its initiative to develop an offshore renminbi market. (Taiwan News)

■ Over the past few days KMT legislator Alex Tsai has alleged in Facebook postings and in public that Transportation minister Yeh Kuang-shih was getting too close to business relations between Chunghwa Telecommunications and Senao International and had even asked the chairman of Chunghwa, Lee Yen-sung, to retire after Lee failed to follow up on a suggestion to buy shares of Senao stock. (Taiwan News)

■ Saying that any new system can always be improved, Premier Jiang Yi-huah announced Wednesday that a full review of the second generation of the National Health Insurance (NHI) system with recommendations for improvement will be carried out in April this year. (Taiwan News)

■ The American Chamber of Commerce in Taipei (AmCham) expressed concerns on Thursday over Taiwan's new regulations on labeling food products which might affect the operations of its retail members. AmCham also clarified that its member companies "have yet indicated any intention to reduce its presence in Taiwan." (Taiwan News)

■ The first batch of upgraded indigenous defense fighter (IDF) jets and the installation of a new weapons system on the locally developed fighters will boost Taiwan's air defense capabilities, the Air Force said Thursday. (CNA)

Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chip maker, has announced a record-high net profit for 2013, with market analysts attributing the growth to solid demand for mobile devices. In an investor conference Thursday, TSMC said it posted NT$188.15 billion (US$6.27 billion) in net profit for 2013, up 13.1 percent from 2012, with earnings per share (EPS) of NT$7.26. (CNA)

■ The American Institute in Taiwan (AIT) and the Taiwan Design Center jointly launched an innovation center in Taipei Thursday to promote digital learning with an emphasis on innovation, creativity and design. The American Innovation Center, the first of its kind in Asia, is equipped with computers, 3-D printers, scanners, books, audio-visual materials and an online database. (CNA)

■ Temperatures will remain mild around Taiwan Friday before dropping as yet another cold air mass approaches Saturday, the Central Weather Bureau forecast. (CNA)

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