Fri, May 13, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

HK bourse, TWSE ink pact

Hong Kong Exchanges & Clearing Ltd (香港交易及結算所), the world’s biggest bourse by market value, said it signed an agreement with Taiwan Stock Exchange Corp (TWSE, 臺灣證券交易) to share regulatory information.

The agreement will boost cooperation as more companies list securities on both bourses, the statement said. Sixteen Hong Kong-listed firms have depositary receipts trading on the Taiwanese exchange, the press release said.

Listed firms bounce back

Companies listed on Taiwan’s bourse saw their profits last year return to the levels before the global financial crisis started in 2007, the stock exchange said on Wednesday.

These companies posted a combined profit of NT$1.449 trillion (US$50.8 billion) last year, up 69.84 percent from a year ago, the exchange said.

The top five industries that had the biggest profit growth last year were the semiconductor industry, the shipping industry, the optoelectronics industry, the plastics industry and the financial and insurance sector.

The companies with the largest growth rates in profit last year were, in ranking order — Taiwan Semiconductor Manufacturing Co (台積電), AU Optronics Corp (友達光電) and Yangming Marine Transport Corp (陽明海運).

Tachan Securities signs MOU

Taipei-based Tachan Securities Co (大展證券) said yesterday it has signed a memorandum of understanding with Bank of China’s (BOC, 中國銀行) securities arm BOCI Securities Ltd (中銀國際證券) to forge closer ties.

Tachan Securities and BOCI Securities will exchange trading and research information, while the Taiwanese firm will serve as a broker and financial advisor to the Chinese partner for its investments in Taiwan.

In addition, they will start a program to allow their employees to visit their counterparts in an attempt to survey the markets in Taiwan and China. Over the long term, the two companies are likely to set up joint ventures, sharing experiences in management and business development, they said.

EVA’s cargo unit honored

EVA Air Cargo (長榮航空貨運) has been honored by Belgium’s Brussels Airport for its outstanding performance in network and route development in its Brussels service last year, the carrier said on Wednesday.

The Network Development Award (cargo airline) was presented to EVA at the 2010 Brussels Airport Aviation Awards ceremony held on April 29 in Brussels.

EVA said it had introduced a third weekly cargo flight from Brussels to New Delhi and Taipei last year. It also increased freight capacity to Brussels. As a result, there was a 110 percent growth in freight volume on the Brussels route last year, the company said.

NT dollar dips

The New Taiwan dollar reversed a gain in the final minute of trading on suspected intervention by the central bank to check appreciation that may hurt exports.

The NT dollar fell 0.5 percent to NT$28.793 against its US counterpart at the 4pm close yesterday, according to Taipei Forex Inc.

The local unit was trading 0.1 percent stronger two minutes before the end of trading and erased gains at the close on suspected intervention by the central bank, according to two traders who declined to be identified.

Meanwhile, the central bank increased inspections of foreign-currency transactions to catch speculators, the Chinese-language Commercial Times reported yesterday. The threshold for transactions that may be inspected has been lowered to from US$1 million to US$500,000, the report said.

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