Jordan insurance pact inked
The Financial Supervisory Commission yesterday inked a memorandum of understanding with the Insurance Commission of Jordan, seeking further cooperation on insurance supervision, a commission statement said.
The bilateral agreement with Jordan will be the nation’s 33rd of its kind and the nation’s second insurance supervision agreement with a foreign country, the commission said.
Commission Chairman Gordon Chen (陳樹) and his counterpart Bassel Hindawi signed the memorandum, which will provide a framework for Taiwan to establish a global supervisory network, the commission statement said.
However, the commission said no domestic insurance companies have expressed plans to tap into the Jordan market, although Hindawi met with several local insurers during his visit to Taipei.
Yuanta Financial plans buyback
Yuanta Financial Holding Co (元大金控), owner of the nation’s largest brokerage, said it may spend as much as NT$6 billion (US$197 million) to buy back 300 million of its shares, or 3.6 percent of the company.
Yuanta Financial plans to purchase the shares at between NT$14 and NT$20 each, the Taipei-based company said in a filing to the Taiwan Stock Exchange yesterday.
The buyback begins today and will continue until July 29.
Yahoo-Kimo, HiNet unveil deal
Yahoo-Kimo Inc (雅虎奇摩) said it has partnered with Chunghwa Telecom Co’s (中華電信) HiNet to provide a second layer of Internet security for Taiwanese users, the companies said yesterday.
Two major Internet security gadgets are being used in Taiwan at present: an IC card system and Secure ID.
The IC card can be used to pay taxes as well as for online banking. It is issued by the Ministry of the Interior and costs NT$275. However, the card is only available to Taiwanese.
The Secure ID system is currently available to HiNet customers for NT$599 a month for the first year and NT$399 from the second year.
The Secure ID token contains six random digits which reset every 60 seconds, making it extremely difficult for hackers to steal personal information.
Yahoo-Kimo general manager Charlene Hung (洪小玲) said the collaboration with HiNet would increase users’ security online and promote safe spending.
“Secure ID is available from the Yahoo member center and auction site,” Hung said.
“We hope to implement it in three to four months’ time in our e-mail services as well,” she said.
Taiwan is currently the only country where Yahoo has partnered with a local service provider to provide Secure ID for its users.
Foreign investors park money
Overseas investors have parked their money in New Taiwan dollar accounts after selling Taiwanese stocks, central bank Deputy Governor George Chou (周阿定) told a press conference yesterday.
Foreign investors’ NT dollar positions “are little changed,” Chou said.
Overseas investors sold NT$73.1 billion (US$2.4 billion) more Taiwanese stocks than they bought from July 1 to Monday, the Taiwan Stock Exchange Web site showed.
The benchmark TAIEX fell 4.9 percent during the same period.
NT dollar edges higher
The NT dollar rose against the US currency on the Taipei Foreign Exchange yesterday, climbing NT$0.014 to finish the day at NT$30.390.
A total of US$888 million changed hands during the day’s trading.
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