REAL ESTATE
Brokers out of work
As the slump in the local housing market continues, more than 1,000 real-estate brokers have lost their jobs in the past three years, Chinese Association of Real Estate Brokers chairman Lin Cheng-hsiung (林正雄) said yesterday. The Taipei-based association said the number of real-estate brokerages nationwide had dropped from 6,500 in 2014 to 5,400 last month, and the number could decline further given unfriendly government policies. The association is to continue discussing house and land sales tax cuts with the government to boost market transactions, Lin said. The regulations subject property transaction gains to income taxes of 45 percent if the houses are resold within one year of purchase, and 35 percent for houses sold within two years of purchase.
RETAIL
Mercy Wu to head Eslite
The Eslite Corp (誠品生活) board yesterday unanimously approved company vice chairwoman and president Mercy Wu (吳旻潔) as its new chairwoman with immediate effect, the bookstore chain operator said in a filing with the Taiwan Stock Exchange. The decision came one day after Wu’s father, Robert Wu (吳清友), the founder and chairman of Eslite, died of heart failure on Tuesday night. Mercy Wu started working as Robert Wu’s special assistant in 2005. She was promoted to executive vice president in 2007 and became vice chairwoman in 2010. Eslite shares dropped 0.67 percent to NT$148.5 on the Taipei Exchange yesterday.
TECHNOLOGY
Chipbond mum on rumors
Chipbond Technology Corp (頎邦), a driver integrated circuit packaging and testing-service provider, yesterday declined to comment on rumors that it plans to sell its Chinese unit to Chinese flat-panel manufacturer BOE Technology Group Co (京東方). The Chinese-language United Evening News reported that Chipbond might complete the sale of about 50 percent of its shares in Chipmore Technology Co Ltd (頎中科技) to BOE by the end of September. Chipbond has close business ties with BOE in China, where it runs Chipmore in Suzhou and International Semiconductor Technology Ltd (飛信) in Kunshan.
AVIATION
Fleet upgrade approved
Mandarin Airlines (華信航空), a subsidiary of China Airlines Ltd (中華航空), yesterday said its board approved a plan to introduce nine ATR72-600 aircraft to upgrade its fleet for domestic routes, beginning in November. The board has entrusted chairman Hsieh Shih-chien (謝世謙) to sign leasing agreements with British Aviation PLC for three ATR72-600 and letters of intent with Toulouse, France-based turboprop aircraft manufacturer ATR for another six 70-seat aircraft, Mandarin Airlines said.
TECHNOLOGY
Bixby to understand English
Samsung Electronics Co said its Bixby voice assistant for smartphones would start speaking English, but only in two countries: South Korea and the US. The firm said that starting yesterday, users of Galaxy S8 smartphones can ask their smartphones to turn on the flashlight, take a selfie or search for photographs in English. Samsung did not say why Bixby in English was not made available to users outside South Korea or the US, or when it might be available in other languages in other countries.
STEEP DECLINE: Yesterday’s drop was the third-steepest in its history, the steepest being Monday’s drop in the wake of the tariff announcement on Wednesday last week Taiwanese stocks continued their heavy sell-off yesterday, as concerns over US tariffs and unwinding of leveraged bets weighed on the market. The benchmark TAIEX plunged 1,068.19 points, or 5.79 percent, to 17,391.76, notching the biggest drop among Asian peers as it hit a 15-month low. The decline came even after the government on late Tuesday authorized the NT$500 billion (US$15.2 billion) National Stabilization Fund (國安基金) to step in to buoy the market amid investors’ worries over tariffs imposed by US President Donald Trump. Yesterday’s decline was the third-steepest in its history, trailing only the declines of 2,065.87 points on Monday and
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
Six years ago, LVMH’s billionaire CEO Bernard Arnault and US President Donald Trump cut the blue ribbon on a factory in rural Texas that would make designer handbags for Louis Vuitton, one of the world’s best-known luxury brands. However, since the high-profile opening, the factory has faced a host of problems limiting production, 11 former Louis Vuitton employees said. The site has consistently ranked among the worst-performing for Louis Vuitton globally, “significantly” underperforming other facilities, said three former Louis Vuitton workers and a senior industry source, who cited internal rankings shared with staff. The plant’s problems — which have not
TARIFF CONCERNS: The chipmaker cited global uncertainty from US tariffs and a weakening economic outlook, but said its Singapore expansion remains on track Vanguard International Semiconductor Corp (世界先進), a foundry service provider specializing in producing power management and display driver chips, yesterday withdrew its full-year revenue projection of moderate growth for this year, as escalating US tariff tensions raised uncertainty and concern about a potential economic recession. The Hsinchu-based chipmaker in February said revenues this year would grow mildly from last year based on improving supply chain inventory levels and market demand. At the time, it also anticipated gradual quarter revenue growth. However, the US’ sweeping tariff policy has upended the industry’s supply chains and weakened economic prospects for the world economy, it said. “Now
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