Thu, Mar 25, 2010 - Page 11 News List

Business Briefs

STAFF WRITER, WITH AGENCIES

TAIEX edges higher

Taiwanese share prices closed higher yesterday, with the TAIEX index climbing 10.84 points, or 0.13 percent, to close at 7,822.71.

The local bourse opened at 7,875.27 and fluctuated between a low of 7,822.71 and a high of 7,881.37 during the day’s trading. Market turnover totaled NT$113.55 billion (US$3.6 billion).

Five of the eight major stock categories gained ground, with paper and pulp shares gaining the most at 0.85 percent.

Losers outnumbered gainers 1,595 to 1,323, with 338 shares remaining unchanged.

Foreign investors and Chinese QDIIs were net buyers of NT$4.68 billion in shares.

HTC, Sprint unveil new phone

HTC Corp (宏達電), the manufacturer of the world’s first mobile phone running Google’s operating system, yesterday unveiled its first 4G, or WiMAX, mobile phone, dubbed the HTC EVO 4G, in collaboration with US wireless service provider Sprint. The mobile phone, running the Android operating system, will be available this summer, a joint statement by the companies said.

Sprint customers will be able to purchase the new phone through all Sprint channels and its national retail partners in the US, RadioShack, Best Buy and Walmart, this summer. Pricing will be announced at a later date.

Sprint 4G has more than 30 million subscribers and expects to have up to 120 million by the end of the year.

Former UMC boss warned

The High Court yesterday warned the former head of United Microelectronics Corp (UMC, 聯電) that he risks being arrested after shouting at judges and walking out of his trial for alleged illegal investment.

Robert Tsao (曹興誠), one of the nation’s most successful businessmen, on Tuesday accused the bench of violating the Constitution by trying him, before storming out of the court, local media reported.

In a statement the court said: “The court can make a ruling without hearing a defendant who is absent without valid reason and it can arrest a defendant who fails to attend court. The defendant should follow the rules of the court and the judges’ orders to avoid affecting his rights.”

Tsao was indicted in 2006 for breach of trust and violation of accounting rules over an investment by UMC in China-based chip maker Hejian Technology (Suzhou) Co (和艦).

Yahoo announces shakeup

Yahoo yesterday announced a staff shakeup designed to further strengthen its Asia-Pacific leadership team effective next Thursday.

The moves come as Yahoo’s Asia-Pacific regional structure expands to include Southeast Asian countries and India.

Yvonne Chang (張憶芬) will move from her current regional post as vice president of advertising sales and marketplace to take on a new role as head of Southeast Asia based in Singapore.

Ken Mandel, presently head of Yahoo Southeast Asia, will take over Chang’s previous role.

Jeff Han (韓志傑) has been promoted from acting senior director of marketing to vice president in charge of the Asia-Pacific region.

Bond issue planned

Far Eastern New Century Corp (遠東新世紀) plans to issue as much as NT$6 billion in bonds to repay short-term debt and strengthen its finances, the firm said in a filing to the Taiwan Stock Exchange yesterday.

NT dollar edges higher

The New Taiwan dollar gained ground against the US dollar on the Taipei Foreign Exchange yesterday, edging up NT$0.005 to close at NT$31.845.

A total of US$718 million changed hands during trading.

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