Wed, Sep 16, 2009 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

TAIEX up 1.23 percent

Taiwanese shares closed 1.23 percent higher yesterday, led by big caps in the electronics sector, dealers said.

The TAIEX index rose 89.31 points to 7,346.26 on turnover of NT$97.45 billion (US$2.99 billion). Foreign institutional investors were net buyers of NT$5.7 billion in shares, Taiwan Stock Exchange tallies showed.

Gainers outnumbered losers 1,458 to 801, while 253 stocks were unchanged. A total of 52 shares surged to their daily 7 percent limit, against 10 that were limit-down.

Taipei helps books turn digital

The government yesterday said it would allocate NT$2.13 billion to help local publishers digitalize books over the five-year period ending in 2013.

The subsidy program, which received Cabinet approval on Aug. 31, could help create a digital publication industry with annual revenues of NT$100 billion in Taiwan, the Industrial Development Bureau said in a press release.

The bureau said it aimed to help create two or three digital publishers or content providers, which could produce as many as 100,000 titles by in 2013.

Bank’s outstanding loans rise

Outstanding loans by nine state-run or controlled banks totaled NT$10.65 trillion last month, rising 1.39 percent from last year and 0.83 percent from a month earlier, the Ministry of Finance said in a statement yesterday.

Meanwhile, loans to small and medium companies stood at NT$2.16 trillion, down 1.23 percent from last year but up 0.63 percent from a month earlier, the statement said.

The ministry interpreted the data as signs of improving economic activity one year after the global financial crisis.

Also, the ministry said the lenders dutifully stood by the government’s policy to avoid a credit crunch.

Steelmaker sees recovery

China Steel Corp (中鋼), the nation’s largest steelmaker, said its operations “are gradually recovering” after posting a loss in the first half as the price of metal rises, the Kaohsiung-based company said in a stock exchange filing yesterday.

Taiwan Ratings Corp (中華信評), a Standard & Poor’s venture, lowered China Steel’s rating by one level to “twAA+” on Monday.

Yuanta names new president

The board of Yuanta Financial Holding Co (元大金控) yesterday promoted Tony Shen (申鼎籛) to be its new president, replacing outgoing Felice Chen (陳嫦芬).

Shen was formerly the financial holding company’s vice president and doubled as chairman of its securities brokerage arm.

The company’s board hopes to take advantage of Shen’s experience and expertise in the company’s most profitable securities brokerage businesses in paving a foundation for its future expansion plan into China and overseas markets, company spokesperson Chuang Yu-de (莊有德) said.

Chen submitted her resignation for “personal reasons,” he said.

HTC to build Sindian HQ

HTC Corp (宏達電), the largest maker of mobile phones running on Windows operating system, said the company planned to spend NT$3.38 billion to build research and development headquarters in Sindian (新店), Taipei County, the company said in a stock exchange filing on Monday.

Construction of the project is scheduled to start on Oct. 31, with completion on Aug. 31, 2011.

NT dollar gains on greenback

The New Taiwan dollar gained against the US dollar on the Taipei Foreign Exchange yesterday, rising NT$0.031 to close at NT$32.637. Turnover was US$794 million.

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