Fri, Sep 09, 2005 - Page 11 News List

Business Briefs

AGENCIES

■ TAIEX gains on phone stocks

Shares rose slightly yesterday as mobile phone stocks attracted buying on solid revenue figures for last month. The TAIEX gained 8.74 points, or 0.1 percent, to 6,149.88, on turnover of NT$64.22 billion (US$1.97 billion). Arima Communications Corp (華冠通訊), whose clients include Sony Ericsson Mobile Communications Ltd, rose by the daily maximum of 7 percent to NT$15.65 after the company said Wednesday its revenue for last month rose 72 percent from the same month last year to NT$2.03 billion (US$62.05 million).

Hopes for stronger handset shipment in the next few months also spurred strong buying in Compal Communications Inc (華寶通訊), Taiwan's second-largest handset maker by shipments. The stock rose 3.9 percent at NT$107.50.

■ BenQ secures EU approval

BenQ Corp (明基) secured EU antitrust approval to take over Siemens AG's unprofitable mobile-phone unit.

Siemens, Germany's largest engineering company, on June 7 said it will pull out of the mobile-phone industry after two decades and that BenQ will take over the business and its 7,000 employees. The acquisition will make BenQ the world's fifth-biggest handset maker.

"After the proposed merger BenQ will continue to face competition from strong, well-established competitors" in Europe such as Nokia Oyj, the European Commission, the 25-nation EU's antitrust regulator in Brussels, said.

■ NT dollar trades lower

The New Taiwan dollar yesterday traded lower against its US counterpart, declining NT$0.103 to close at NT$32.746. Turnover was US$745.5 million, down from US$1.16 billion the previous day.

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