Print

Mail

wiki links

Business Briefs

■ Ukraine WTO talks settled
Ukraine has completed bilateral talks with Taiwan to pave the way for the Eastern European country's accession to the WTO, a Ukraine official said on Thursday.
The announcement was made by Valeriy Pyatnytskiy, deputy minister of economy for Ukraine, while reporting to a WTO working group considering Ukraine's WTO entry application.
Three rounds of bilateral talks have been held between Taiwan and Ukraine. In addition to economic and trade issues, Taiwan has expressed concern during the talks over the Ukrainian government's rejection of ROC passports printed with the word "Taiwan" on their cover. Ukraine has dealt with the problem at Taiwan's request.
According to official statistics from Taiwan, bilateral trade between Taiwan and Ukraine was valued at US$257 million last year, down 41 percent from a year earlier, with Taiwan posting a trade deficit of US$12 million with the country.

■ Corning predicts clearances
Corning Inc, the world's largest maker of glass for liquid crystal displays, said customers will probably get rid of excess inventory by the end of September after cutting production.
"Inventory build up will now be cleared out of the system by the end of the third quarter," said Daniel Collins, a Corning spokesman, at a press briefing in Taipei yesterday.
The comments may help ease concerns that panel makers are producing more screens than they can sell after LG Philips LCD Co and AU Optronics Corp (友達光電) earlier this month cut shipment forecasts for the second quarter, saying sales of LCD televisions may be less then they previously expected.
The companies' plans to cut shipments contributed to the outlook for inventory clearing, Collins said.
New York-based Corning cut its shipment forecasts on May 22 for the second quarter because of a reduction in orders from customers.

■ Triad's Lin elected chairman
Roscher Lin (林秉彬), chairman of Triad International Corp (逸祥貿易), was elected as chairman of the National Association of Small and Medium Enterprises (中小企業協會), the local trade group said in a statement on Thursday.
Lin will take over the position from Day Sheng-tung (戴勝通), who has chaired the association for the past eight years.
After being elected as chairman, Lin said he hopes to push forward the implementation of various policies to benefit its members, and help to introduce more funds, technologies and talent to the enterprises.

■ China Steel to buy into firm
China Steel Corp (中鋼), Taiwan's largest steelmaker, said it plans to buy a 15 percent stake in a company that makes compressors for air conditioners in China for NT$262.5 million (US$8.1 million).
China Steel will buy the stake from Teco Electric & Machinery Co (東元電機), a Taipei-based home appliance maker, China Steel said in a statement to the Taiwan Stock Exchange on Thursday. The company is based in Qingdao in eastern Shandong Province, it said, without giving further details.
The investment still needs approval by the government's Investment Commission.
Separately, China Steel's board approved a plan to invest NT$3.98 billion to build new headquarters, the company said in a separate statement.

■ NT dollar stays strong
The New Taiwan dollar maintained its strength against the US dollar yesterday, rising NT$0.061 to close at NT$32.480 on the Taipei foreign exchange market.
Turnover was US$827 million.

This story has been viewed 8152 times.