Thu, Oct 27, 2005 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ TAIEX drops

Share prices closed 0.36 percent lower yesterday, continuing weaker amid investor concerns over a possible bird flu outbreak and after Wall Street's lackluster performance overnight provided no support, dealers said.

The TAIEX closed down 20.59 points at 5,700.72, on turnover of NT$73.05 billion (US$2.17 billion).

■ German appliances coming

Miele, the German-based world's largest family-owned and operated household appliance producer, is aiming to get a foothold in the Taiwanese market, a company official said yesterday in Taipei.

"There is a vacuum in the premium home appliance market in Taiwan and we would like to occupy that space," Mario Miranda, Miele Pte Ltd's managing director for Southeast Asian market, said at a product launch.

Miele will target the niche high-end market of the segment by introducing a full range of home appliances entirely manufactured in Germany, Miranda said. Its washing machines, for instance, start at NT$80,000 (US$2,375) and can cost as much as NT$150,000, he added.

The company has appointed K.E & Kingstone Co (嘉儀企業) as the sole distributor in Taiwan with three showrooms in Taipei, Hsinchu and Kaohsiung, he said.

■ NT gains on greenback

The NT dollar rose against its US counterpart, climbing NT$0.081 to close at NT$33.66 on the Taipei foreign exchange.

Turnover was US$829 million, up markedly from US$656 million the previous day.

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