■ Local shares close higher
Shares closed 0.54 percent higher yesterday as the continued appreciation in the Chinese yuan boosted local companies with exposure to Chinese markets, dealers said.
They said investor interest in such firms offset concerns over the fall in US chip giant Intel's share price overnight after its net profit plunged 39 percent in the fourth quarter.
The TAIEX was up 41.90 points at 7,833.98, on turnover of NT$102.01 billion (US$3.11 billion).
Risers led decliners 698 to 495, with 186 stocks unchanged.
■ Hsinchu International to delist
Hsinchu International Bank (新竹商銀) is to delist from the Taiwan Stock Exchange (TSE), with effect from today, according to a statement released yesterday by Standard Chartered Bank.
"Hsinchu Bank's shares will no longer be traded on the TSE. This means there will no longer be a TSE-regulated market for trading in Hsinchu International shares," the statement read.
Standard Chartered said it would purchase all remaining Hsinchu International shares during a 50-day period from today to March 8 at the price of NT$24.5 per share.
Standard Chartered currently holds approximately 96.4 percent of Hsinchu International shares following a successful tender offer in October last year and subsequent purchase of Hsinchu International shares in the open market, it said.
The TSE announced on Dec. 29 that it had granted approval for the delisting of Hsinchu International shares.
■ Cross-strait trade rises 18.2%
China's annual trade with Taiwan rose 18.2 percent last year to US$107.8 billion last year, the Chinese Cabinet's Taiwan Affairs Office said yesterday.
Taiwanese companies invested US$2.14 billion in China last year, the office's spokesman Yang Yi (楊毅) said.
China's imports from Taiwan rose 16.6 percent to US$87.1 billion, while exports to the nation were up 25.3 percent at US$20.7 billion, Yang said at a news conference.
The government says Taiwanese companies have invested more than US$100 billion in China since the early 1990s, setting up factories to produce goods ranging from computer chips to umbrellas.
■ Vibo to buy 52% of Trust Inc
Vibo Telecom Inc (威寶電信), the nation's only pure third-generation (3G) mobile service provider, said yesterday that it planned to buy 52 percent of Trust Inc (台灣優勢客服) for NT$75 million (US$2.29 million) to boost subscribers.
The investment would also give Vibo a foothold in the growing business process outsourcing market, where Trust Inc offers market survey and consultancy to customers in telecom, banking and other industries, Vibo said in a statement.
The new Trust Inc would boost its capital to NT$145 million, according to the statement. Vibo has 350,000 subscribers.
■ FSC signs MOU with British body
The Financial Supervisory Commission said it had signed a memorandum of understanding with Britain's Financial Service Authority on cooperation in financial supervision, information exchanges and assistance in probes into financial irregularities.
It is the first time the Cabinet-level commission has forged cooperative ties with a similar foreign financial supervisory body, the commission said on Tuesday.
Under the terms of the accord, the two sides will strengthen cooperation in financial supervision and investigations into suspected financial irregularities or crimes, it said.
■ NT dollar closes lower
The New Taiwan dollar lost ground against its US counterpart Wednesday, declining NT$0.017 to close at NT$32.792.
Turnover was US$910 million.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”