HSBC posts 8% profit
The Hongkong and Shanghai Bank-ing Corp (HSBC, 匯豐銀行) yesterday said it earned NT$680 million in pre-tax profit in the first quarter of his year, up 8 percent from last March.
Taiwan CEO Paul Leech was optimistic yesterday about the bank's post-SARS performance, saying its credit-card business has gradually picked up over the past two weeks.
Company moves hurt economy
Business relocations to overseas markets is the leading reason behind Taiwan's deteriorating business climate and operations, according to a recent survey by the Ministry of Economic Affairs.
About 42 percent of the companies polled pointed to business relocation as the major factor behind the business and investment climate. Some 28 percent singled out deflation as the chief element.
About 25 percent of respondents said they need assistance in technology and research upgrad-ing, while 21 percent hope for help with distribution and 17 percent called for help in the form of loans.
China Steel share sale planned
The government will prepare a plan in two weeks for selling its some of its 40 percent share in China Steel Corp (中鋼), a local newspaper said. It wants to sell as many as 1.99 billion shares, or 21 percent of stock, to local and overseas investors, hoping to fetch NT$47.5 billion (US$1.4 billion).
NT dollar dips
The New Taiwan dollar declined NT$0.069 to close at NT$34.614 to the US dollar on the Taipei foreign exchange market. Turnover was US$655 million.
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