Fri, Dec 08, 2006 - Page 11 News List

Business Briefs

STAFF WRITER WITH AGENCIES

■ Trading sluggish ahead of polls

Shares closed little changed yesterday following Wall Street's losses overnight and with trade cautious ahead of key weekend mayoral elections, dealers said.

The TAIEX slipped 6.81 points at 7,686.52, on turnover of NT$120.37 billion (US$3.71 billion).

Decliners outpaced gainers 717 to 499, with 196 stocks unchanged.

The New Taiwan dollar ended NT$0.003 lower at NT$32.3 against the US dollar on the Taipei Forex Inc.

■ ECCT elects officers

The European Chamber of Com-merce Taipei (ECCT) announced yesterday that Ralf Scheller will serve as chairman of the ECCT board of directors next year for the second consecutive year.

Scheller is the managing director of TUV Rheinland Taiwan Ltd.

In a statement, ECCT said that Peter Albrich, president and CEO of Siemens Ltd Taiwan, was also re-elected vice chairman, and Philipppe Pellegrin, senior country officer of Calyon Taipei Branch, was elected treasurer.

■ Sanyo fined over ad

Home appliance maker Sanyo Electric Co (三洋電機) was fined NT$750,000 (US$23,220) by the Fair Trade Commission yesterday for fraudulent advertising.

The commission said that Sanyo ran advertisements in newspapers in April last year claiming that one of its air-conditioner models could save consumers up to 59 percent in energy bills.

However, the Bureau of Standards, Metrology and Inspection said Sanyo's tests did not fall in line with national standards and the figures the firm offered were not representative.

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