Tue, Oct 14, 2003 - Page 11 News List

Business Briefs

AGENCIES

More Chinese workers okayed

The government plans to allow increased employment of Chinese high-tech workers both by local companies and foreign firms operating here, a Mainland Affairs Council official said yesterday.

The Cabinet recently instructed government agencies to work on the liberalization in response to growing demand in the technology industry for high-quality and low-cost workers, the official said.

Separately, a Chinese-language newspaper said the authorities plan to remove current regulations which limit private firms to hiring no more than 20 percent of their research and development personnel from China.

In addition, companies would be permitted to recruit Chinese professionals directly from China rather than only from those living abroad, the newspaper said, adding that the easing of the rules is expected next month.

Rivals grabbing market share

China's Ningbo Bird Co (波導) and Sewon Telecom Ltd of South Korea are threatening to take more business from Taiwanese rivals after winning orders from Siemens AG to make mobile phones, a Chinese-language newspaper reported, without saying where it obtained the information.

Taiwanese companies such as BenQ Corp (明基), which makes handsets for Motorola Inc, and Arima Computer Corp (華宇), which supplies Sony Ericsson Mobile Communications AB, may lose profit margins that are as high as 20 percent now that more competition is coming from outside the country, the paper said.

Chinese and South Korean companies have narrowed the gap with their Taiwanese rivals as innovation in the mobile phone business slows and South Korean companies offer handsets that are more attractive than those most Taiwanese companies can design, it said.

Biotech park set for Pingtung

The first agricultural biotechnology park in Asia will be established in Pingtung and become operational by the end of next year.

Council of Agriculture Chairman Lee Chin-lung (李金龍) said Sunday that the 350-hectare park will be able to accommodate 120 investors.

It is aimed at modernizing and promoting agricultural production. Park output is expected to reach NT$20 billion (US$598 million) in 10 years.

New chips on the way

Transmeta Corp and Via Technologies Inc (威盛) plan to announce new microprocessor chips this week to target portable computers, the Wall Street Journal reported, citing the companies at a technical conference in Silicon Valley.

Transmeta and Via Technologies aim to compete with Intel, which provides more than 80 percent of personal computers with chips, the Journal said.

TSEC in pact with Luxembourg

Taiwan Stock Exchange Corp (TSEC) and Luxembourg Stock Exchange have signed a memorandum of understanding on information sharing, TSEC said Monday.

The agreement was forged by TSEC chairman Sean Chen (陳沖) and Luxembourg Stock Exchange president and chief executive Michel Maquil in New York, a TSEC statement said.

Taiwanese companies have issued 31 global depositary receipts and 105 corporate bonds on the Luxembourg Stock Exchange and the accord will strengthen market management and relations, according to the statement.

NT dollar gains ground

The New Taiwan dollar yesterday traded higher against its US counterpart, rising NT$0.033 to close at NT$33.710 on the Taipei Foreign Exchange.

Turnover was US$788 million.

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