■ Investment cases approved
The Economic Processing Zone Administration under the Ministry of Economic Affairs approved two high-tech investment cases last month, ministry officials said yesterday. One of the cases involves the Tsichen Technology Development Corp (磁震科技開發), which will invest NT$100 million in manufacturing high-tech materials, including environmentally friendly electric cars, astronomy telescopes and medical equipment in a facility at the Chungkang Industrial Park. The other is associated with the Chiehkang Corp (捷康), which will invest NT$5 million in producing high-tech semiconductor-related materials in the Nantze Industrial Park.
■ Life insurers increase stakes
The nation's two major life insurers have increased their stakes in domestic commercial banks during the first half of the year in a bid to strengthen their shareholder position in the lenders, a Chinese-language newspaper reported yesterday, citing company data. Cathay Life Insurance Co (國泰人壽), Taiwan's biggest life insurer, spent about NT$2.09 billion buying 90.4 million shares of E.Sun Financial Holding Co (玉山金控), raising its stake to about 8 percent, the paper said. Small rival Shin Kong Life Insurance Co (新光人壽) paid NT$2.85 billion for 118 million shares of International Bank of Taipei (台北商銀), and NT$2.17 billion for 108 million shares of Cosmos Bank Taiwan (萬泰銀行).
■ IPR courts in the offing
Government officials are scheduled to meet today with representatives from intellectual property right (IPR) holders, foreign trade organizations as well as IPR lawyers and law professors on the establishment of the nation's first IPR courts, according to officials at the Judicial Yuan. Among topics to be discussed will be plans to seek land lots for the proposed courts and ways to train the IPR judges, officials said. They will also discuss whether the courts' jurisdiction will include civilian, criminal and administrative actions.
■ TSMC asks for easier rules
Taiwan Semiconductor Manufacturing Co (台積電) said it asked the government to ease rules on the technology it will use to make chips in its first China plant. TSMC Chairman Morris Chang (張忠謀) requested Premier Yu Shyi-kun to let the factory make chips with spaces between transistors measuring 0.18 micron, less than is allowed at present, TSMC spokesman Tzeng Jinnhaw (曾晉皓) said.
■ Financial industry clean-up
To help clean up the nation's financial industry, financial authorities are considering to allow foreign financial institutions and investment funds to bid for the debt-ridden Chung Shing Bank (中興銀行), a Chinese-language newspaper reported yesterday, citing officials from the management committee of the Financial Restructuring Fund. Kong Jaw-sheng (龔照勝), chairman of Financial Supervisory Commission, and other committee members of the Financial Restructuring Fund, proposed the introduction of foreign investors to help clean up the nation's financial industry, during a meeting on Tuesday.
■ NT dollar keeps on rising
The New Taiwan dollar yesterday continued gaining ground against its US counterpart, rising NT$0.09 to close at NT$33.963 on the Taipei foreign exchange market. Turnover was US$702 million.
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