Makro to close two outlets \n \nThe Makro Taiwan Ltd (萬客隆) announced yesterday that it will shut down two outlets, one in Tainan and one in Kaohsiung, local TVBS reported, citing a marketing manager from the store surnamed Wang. \nHe said the closures, which are expected to affect about 200 workers, is part of the company's business streamlining plan. \nMakro, a joint venture between Taiwan's Feng Chun Group (豐群集團) and the Holland-based company, opened its doors in Taiwan 14 years ago. Following the closures, Makro will have six outlets remaining in Taiwan. \nTSMC waits for the Cabinet \n \nPremier Yu Shyi-kun said yesterday that the Cabinet will make a decision in early February whether it will allow Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to build a chip plant in China. \nDuring a news briefing yesterday, Yu said that there's been no change in the government's plan to allow the chipmaker to invest in China. But because TSMC needs to provide more information to supplement its investment application, the government has to take added time to review the proposal, he said. \nCAL seeks China's approval \n \nChina Airlines Co (華航) said yesterday it had submitted an application with China's aviation authorities to provide indirect chartered-flight services between Shanghai and Taipei during the Lunar New Year holiday. \nChina Airlines spokesman Roger Han (韓梁中) confirmed that the carrier has filed the application with the Civil Aviation Administration of China but declined to give further details, such as the date of the flight, on the grounds that the application is still awaiting approval by Beijing. \nOther air carriers including EVA Airways (長榮), Far East Air Transport (遠東), TransAsia Airways (復興), UNI Airways (立榮) and Mandarin Airlines (華信), were tight-lipped on their application plans. \nCPC may boost gas prices \n \nState-owned Chinese Petroleum Corp (中油) said there's room for the company to raise petroleum prices, Chairman Kuo Chin-tsai (郭進財) told lawmakers Wednesday. \nKuo said the company will be closely watching the world oil market after prices surged to US$31.97 per barrel, a 23-month high, this week. \nConcerns over a strike in Venezuela, a major oil producer, and the threat of a US invasion of Iraq, are sources of concern for Chinese Petroleum, he said. \nTaiwan rules notebook market \n \nTaiwan companies will account for 62 percent of world's notebook PC production this year, a local newspaper said, citing output targets of local makers. \nThe two largest suppliers, Quanta Computer Inc (廣達電腦) and Compal Electronics Inc (仁寶電腦), which will made more than half of Taiwan's notebook computers this year, plan to increase output next year to 12.5 million units from this year's 9.5 million, the report said. \nQuanta and Compal share Dell Computer Corp, Hewlett Packard Co and Acer Inc as customers, while Quanta also supplies NEC Corp and Compal supplies Toshiba Corp, the report said. \nNT declines against US dollar \n \nThe New Taiwan dollar traded weaker against its US counterpart yesterday, amid a thin trading. The local currency dropped NT$0.018 against the greenback to close at NT$34.868 on the Taipei foreign exchange market. \nTurnover was US$270 million, compared with the previous day's US$134 million.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion