Reported 9 months ago
With an influx of foreign investment, real estate prices in Hanoi, Vietnam, are on the rise. Areas that used to have no access are now filled with high-rise buildings, leading to significant increases in property prices and rents. The market is so hot that companies are offering one-stop services for buying and renting out properties. Despite a temporary decline in apartment searches in April, prices have remained high, with prices of affordable, middle-range, and upscale apartments increasing by 12%, 5%, and 3% respectively. The surge in demand is attributed to more workers moving to major cities for better job opportunities, while input costs like land, labor, and materials have also risen. Foreign direct investment in real estate projects in the first five months of this year surged by 70.8% compared to the same period last year, reaching $1.98 billion. Foreign investors are attracted by Vietnam's economic recovery prospects and are buying into resorts and hotels, while international hotel brands are expanding their operations in the country. The Vietnamese government is also revising the '2024 Land Law' to allow overseas Vietnamese or Vietnamese citizens living abroad to purchase land use rights in the country, with the aim of attracting billions of dollars in foreign exchange annually to promote economic growth.
Source: YAHOO
Reported 9 months ago
Norway's sovereign wealth fund, the eighth largest shareholder of Tesla, announced its intention to vote against CEO Elon Musk's excessive $56 billion compensation plan at the upcoming shareholders' meeting on June 13. Musk's compensation package was deemed invalid by a Delaware court in January 2024, with concerns raised about its unprecedented scale and potential unfairness to shareholders. The fund believes Musk's compensation doesn't align with long-term value creation and is worried about its impact on shareholder equity. Despite Musk's efforts to rally support from major shareholders, like billionaire investor Ron Baron, some significant investors, including California Public Employees' Retirement System (CalPERS), plan to vote against the proposal.
Source: YAHOO
Reported 9 months ago
In anticipation of excellent location conditions and future development benefits, major developers in Taipei have been investing heavily in the acquisition of large restaurant properties in the city center, totaling about NT$13.5 billion in the past five years. These transactions, involving well-known eateries like '89 Emperor Crab Specialty Restaurant' and '展華花園會館', provide developers with greater product planning space due to their large land areas exceeding 300 ping and high unit prices surpassing millions. By acquiring properties with existing buildings, developers can enjoy more flexible financing options compared to purchasing vacant land, and are driven by the advantages of prominent locations and potential development benefits to invest heavily in Taipei's restaurant properties.
Source: YAHOO
Reported 9 months ago
The German Chancellor, Olaf Scholz, expressed opposition towards the EU imposing tariffs on electric vehicles, stating that closing off the car market due to competition from foreign countries would not be beneficial for German companies. Meanwhile, Chinese company Geely Group's electric car brand, Volvo, has started shifting production lines from China to Belgium to avoid tariffs. Scholz emphasized the importance of fair and free world trade for progress and innovation in the automotive industry, amidst the EU's investigation and potential temporary tariffs on Chinese electric cars to be implemented from July 4th onwards, impacting global trade and competition.
Source: YAHOO
Reported 9 months ago
According to the latest statistics from the Tourism Bureau, the number of Taiwanese visiting Japan in 2023 reached 4.23 million, with the yen exchange rate being favorable this year, leading to a continuous increase in visitors to Japan. To cater to this trend, banks are offering various conveniences and discounts for travelers to Japan, recommending the use of dual currency cards combined with online currency exchange as the most effective strategy to reduce overseas shopping costs. Banks like E.SUN Bank and Taishin Bank are emphasizing the benefits of using a dual currency card paired with online currency exchange to enjoy discounts and savings when shopping abroad.
Source: YAHOO
Reported 9 months ago
In response to the rampant increase in fraud crimes in Taiwan, Cathay Life is actively promoting fraud prevention to protect customer assets. With a focus on the mission of safeguarding client's financial security, the company has been commended by the Ministry of the Interior for its successful prevention of fraudulent activities. They are the only insurer in the industry to receive such recognition. Implementing various strategies under the 'Anti-Fraud Strategy Action Plan 1.5' from the Executive Yuan, Cathay Life engages in educational outreach, reminder campaigns, and frontline intervention efforts to assist customers in combatting fraud. By organizing over 30 fraud prevention events and enhancing employee training, the company aims to minimize the risk of financial losses for its customers, demonstrating a commitment to protecting their well-being.
Source: YAHOO
Reported 9 months ago
Yulon announced a monthly revenue of 7.719 billion NT dollars for May, with a slight decrease from the previous month but a 13.6% year-on-year growth, largely supported by the steady delivery of Luxgen vehicles. Changan also experienced a 17.12% year-on-year growth in revenue for May, reaching 3.839 billion NT dollars, driven by MG sales, with cumulative revenue for the first five months of the year at 20.138 billion NT dollars. Both companies are expected to maintain this revenue scale until the end of the third quarter, with Changan looking forward to a boost in sales from the upcoming launch of its first electric vehicle.
Source: YAHOO
Reported 9 months ago
The Ministry of Finance Investment Conference is set to take place on July 23, featuring 70 investment cases across various sectors such as transportation, sewage and water facilities, agriculture, recycling facilities, and healthcare, with a potential of releasing 1.3 trillion NT dollars worth of business opportunities. The conference aims to increase private participation in public projects through various cooperation models like urban renewal, metro development, and land rights establishment. Notable projects include billion-dollar developments in Kaohsiung and New Taipei City, with expectations of positive outcomes from new transportation investment cases.
Source: YAHOO
Reported 9 months ago
Sunshine Life actively promotes sports culture and has partnered with the Taiwan Children's Football Promotion Association this year to organize the '2024 New Golf Junior Football Training Camp' on July 6 at the Sunshine Skyscraper Plaza. The camp led by Taiwan national football players will offer diverse professional courses to children, aiming to cultivate their interest in football and promote physical, mental, and emotional health. Encouraging family participation, the camp seeks to nurture potential future football stars and instill good sporting habits with various benefits, such as reducing stress and anxiety while fostering confidence, happiness, stability, and focus over time.
Source: YAHOO
Reported 9 months ago
The olive oil industry, considered a vital ingredient in Mediterranean cuisine, is facing a perfect storm due to a significant decrease in production caused by climate change. The soaring prices of olive oil, often referred to as 'liquid gold,' have reached historic highs, making it a target for thieves and adding to the challenges already faced by industry players. Climate change, high olive oil prices, interest rates, and inflation have created a difficult situation throughout the olive oil supply chain, presenting one of the most challenging times in the industry's history. Extreme weather conditions have had a significant impact on olive oil production in southern Europe, particularly in countries like Spain, Italy, and Greece, resulting in a sharp decline in yields.
Source: YAHOO
Reported 9 months ago
According to a draft emissions law in Taiwan, starting from June 9, 2024, a carbon fee will be imposed based on a standard of 25,000 tons, with traditional manufacturing sectors like steel not eligible for a deduction. This has raised concerns in the industry, leading to discussions between the Ministry of Economic Affairs and the Ministry of the Environment to address potential issues of unfair competition among domestic industries. The proposed law has different treatment for high and low carbon-emitting businesses, with those in higher-risk sectors like petrochemical, cement, and steel facing full imposition without any deductions, while lower-risk industries can benefit from the 25,000-ton deduction. The legislation is part of efforts to drive carbon reduction and promote more sustainable practices, but challenges around technological readiness and industry-specific considerations remain.
Source: YAHOO
Reported 9 months ago
China's State Council executive meeting on June 9, 2024, discussed real estate-related work, proposing to continue researching and implementing new measures to reduce inventory and stabilize the market. This signals a potential launch of new official policies to address the housing inventory issue. Current policies aim to accelerate sales, activate existing housing stock, and introduce more innovative measures. The report also mentions the success of recent policies like reducing mortgage rates and increasing government purchases of existing housing. Analysts predict upcoming measures will focus on accelerating the sale of existing and new housing to stabilize housing prices.
Source: YAHOO
Reported 9 months ago
In recent weeks, stocks related to power plants, such as electrical and cable companies, and wind power energy, have seen a resurgence in the Taiwan stock market. Huang Jen-Hsun, the founder of Nvidia, has once again sparked discussion on AI investments in Taiwan, highlighting concerns about power shortages for investments in the country. Stocks related to power plants are rising, with a focus on solar energy as a solution for potential electricity shortages. The market is anticipating investment opportunities related to Taiwan Power's robust electricity network plan and wind power projects, as well as potential opportunities stemming from nuclear power extension or restarts. Globally, even Microsoft co-founder Bill Gates' TerraPower company is planning to build a new-generation nuclear power plant in the United States. This surge in interest has positively impacted stocks related to electrical supply chains, boosting market confidence.
Source: YAHOO
Reported 9 months ago
Many mainland Chinese travelers and self-driving enthusiasts often find themselves booking highly acclaimed star-rated hotels in unfamiliar cities, only to discover upon check-in that while the hotel exterior may be luxurious, the interior facilities are outdated. With the hotel industry in China entering an era of stock transformation, renowned hotel chains have been focusing on revamping existing hotels to tap into new growth opportunities. By leveraging customer resources and market experience, renovating aging facilities, and upgrading prime urban locations, these existing hotels have the potential to boost chain hotel group performance. The case of the Edison Hotel in Shanghai serves as a prime example of successfully transforming an aging hotel into a popular landmark and profitable asset through a balance of historical preservation and modern design.
Source: YAHOO
Reported 9 months ago
The government is actively attracting private investment to inject funds into the economy, with five projects worth billions under the Promotion of Private Participation Law currently underway. The largest project, the 200 billion NT dollars BOT project for the Star Diamond Transportation Center in Tainan City, involves building a multi-storey parking lot and mixed commercial space on a site of approximately 1.12 hectares. Other projects include a 150 billion NT dollars sports field development in Banqiao, a 141 billion NT dollars large-scale logistics center in Hukou, a 130 billion NT dollars transportation hub in Shuhan, and a 104.6 billion NT dollars logistics center in Dayuan. Companies like Fubon Life and Uni-President are planning significant investments in logistics centers as e-commerce drives the trend, with a total of five cases amounting to nearly 23 billion NT dollars. Notably, this year's logistics center investments showcase three main trends: shifting from Taoyuan to Hsinchu, focusing on multi-temperature storage facilities, and seeing new market entrants like Fubon Life and Uni-President investing heavily in the sector.
Source: YAHOO
Reported 9 months ago
Saudi Arabian oil company Aramco announced a new stock issuance on June 6, aiming to raise $11.2 billion for economic diversification. Despite the initial pricing at the lower end of the range, subscriptions were robust, with nearly 60% from international investors, leading to a 2.7% stock price increase and a positive outlook for Saudi Arabia's future. This issuance is seen as a step towards attracting international investors and supporting Saudi Arabia's economic transformation goals, despite challenges from low oil prices and a push towards green energy globally.
Source: YAHOO
Reported 9 months ago
The article discusses the Economic Cooperation Framework Agreement (ECFA) over the past 14 years, highlighting the benefits and challenges. The ECFA aims to facilitate trade between Taiwan and mainland China by reducing tariffs and promoting market access. However, recent developments, such as the termination of certain tariff benefits by China, have raised concerns. The article also touches upon issues related to Most Favored Nation (MFN) status and trade barriers, emphasizing the importance of logical consistency in Taiwan's economic policies.
Source: YAHOO
Reported 9 months ago
EY企業家獎享譽全球，今年《EY世界企業家大獎》在蒙地卡羅舉行，來自47個國家的51位得主參與。台灣企業家高新明代表臺灣參加，而印度企業家Vellayan Subbiah以創新精神榮膺大獎，他在主持Chola金融公司期間，使公司市值暴漲60倍，並推動Tube Investments of India（TII）成功進軍電動車市場和其他產業，也讓TII成為印度領先的工程公司之一。安永全球主席暨執行長Carmine Di Sibio稱讚他不僅有卓越的數字成長表現，也推動他人改善生活，成為《EY世界企業家大獎》的楷模。
Source: YAHOO
Reported 9 months ago
As the Taiwanese stock market fluctuates at a high level, there is a shift in momentum with domestic funds gaining more influence compared to foreign funds. Despite foreign funds only buying a net total of 45 billion NT dollars in stocks this year (much lower than 349.1 billion NT dollars by fund managers), the market has surged by nearly 4,000 points, indicating a decrease in foreign influence as domestic funds take the lead. With fund managers ramping up activity at the end of the season, following domestic funds for investment may be advantageous. Key stocks to watch include Cathay Financial, Evergreen Marine, Taiwan Semiconductor Manufacturing Company, and 13 other 'fund management favorites'.
Source: YAHOO
Reported 9 months ago
As the rainy season approaches in June, high humidity can lead to concerns about clothes not drying properly, furniture getting damp and moldy, and health issues like asthma and skin allergies. Choosing an energy-efficient dehumidifier becomes crucial, with Panasonic's inverter dehumidifier offering energy savings up to 64%, specialized gear for drying shoes and clothes, and a convenient single-handed water tank design. With a stylish pearl-white exterior and unique dual technology for energy savings and purification, Panasonic's dehumidifiers prioritize both moisture removal and clean air, with an outstanding efficiency in removing PM2.5 and formaldehyde. Made in Taiwan, Panasonic dehumidifiers have dominated sales for 15 years and won accolades like the 2023 Platinum Brand Award. Purchase selected models by August 20, 2024, and receive a vacuum insulated coffee mug set as a limited summer gift.
Source: YAHOO
Reported 9 months ago
Amid intensified price wars in the mainland China car market, the profitability of the automotive industry remains at historic lows. With manufacturers facing challenges due to fierce competition and increasing development costs, profit margins are being further squeezed despite slight improvements thanks to expanded production and cost reductions on materials. Numerous car companies, including those in the fuel car sector, have responded with subsidies and price cuts as the Chinese government introduced policies encouraging car replacements with generous subsidies. Despite strong performance from some companies in the mainland's low base production and sales during the first four months of 2024, many enterprises are experiencing significant profit declines and increased survival pressures. However, with stable production and active efforts to stabilize consumer consumption of fuel cars, the overall outlook for the automotive industry in China appears to be cautiously optimistic.
Source: YAHOO
Reported 9 months ago
According to recent reports, Taiwan is moving forward with its low Earth orbit satellite project with a plan to have coverage over the entire island by the end of the month. The government is set to allocate nearly 10 billion NTD for a 4-year plan to maintain existing sites, obtain higher bandwidth from OneWeb's satellites, and establish more mobile network response vehicles to help Taiwan build its own satellite system. Additionally, the National Space Organization will revise and expand its long-term national space technology development plan, incorporating various projects such as low Earth orbit satellite communication, with a budget scaling to over 65 billion NTD by 2031. Discussions are ongoing to further solidify Taiwan's position in the space technology and industry sectors.
Source: YAHOO
Reported 9 months ago
The high-profile divorce case between SK Group Chairman Chey Tae-won and former South Korean President Roh Tae-woo's daughter Roh Soh-yeong, dubbed the 'century divorce,' reveals not only record-breaking financial settlements but also political ties and monetary transactions. The court ruling ordered Chey Tae-won to pay approximately 1.38 trillion Korean won (about 33.1 billion New Taiwan dollars) plus additional compensation. The case delves into the intertwined relationships between conglomerates and the political arena, shedding light on hidden secrets and moral implications beyond monetary disputes.
Source: YAHOO
Reported 9 months ago
The editorial on June 9, 2024, discusses the highly anticipated 20th Third Plenary Session of the 20th Central Committee of the Communist Party of China, scheduled for mid-July. The delay in this session, usually held in the fourth quarter, is believed to stem from challenges in the mainland's economy due to property developer defaults affecting real estate, the financial system, and social stability, along with geopolitical challenges in export markets. After implementing measures to stabilize the economy post Chinese New Year, Hong Kong saw positive impacts with real estate stabilization and economic boost activities, reflecting Beijing's strategy to address market risks before introducing major economic policies at the upcoming Third Plenary Session in July, focusing on long-term development and structural reforms. President Xi Jinping's speeches emphasized deeper reforms, building a socialist market economy, and enhancing market systems to boost efficiency, suggesting a shift towards a more market-oriented approach in China's economic policies. The impending Third Plenary Session could signal a turning point in China's economic strategy.
Source: YAHOO
Reported 9 months ago
In an effort to compete with China and the US, the EU is considering using public funds to support local manufacturing industries, a significant departure from their long-standing policy of limiting national subsidies. Thierry Breton, the EU Internal Market Commissioner, has proposed the establishment of a €100 billion public fund to reduce Europe's dependence on American defense manufacturers. The goal is to boost European arms production capabilities and strengthen the industrial base to rival the manufacturing industries of China and the US. The EU is also looking to expand investments in defense industries and may resort to debt to achieve these goals.
Source: YAHOO