Dell news boosts TAIEX
Taiwanese shares scored gains yesterday, led by the bellwether electronics sector, after sentiment was boosted by US high-tech giant Dell Inc’s better-than-expected first-quarter results, dealers said.
The TAIEX rose 60.75 points, or 0.68 percent, to 8,944.84, after moving between 8,885.40 and 8,946.99, on turnover of NT$87.18 billion (US$3.02 billion)
First Commercial sells bonds
First Commercial Bank (第一銀行) has sold NT$3 billion in unsecured subordinated bonds, parent First Financial Holding Co (第一金控) said in a statement to the Taiwan Stock Exchange yesterday.
The lender sold NT$2.5 billion in seven-year notes at an annual interest rate of 1.65 percent and NT$500 million in 10-year debt at 1.72 percent, the company said.
Hon Hai fails to sell bonds
Hon Hai Precision Industry Co (鴻海精密) failed to sell NT$4.95 billion in unsecured bonds in an auction and it plans to reopen bids for the offer, a company document said.
The company expects to sell NT$4 billion in five-year bonds and NT$950 million in seven-year debt, the company said.
Foxconn outlines profit drive
Foxconn International Holdings Ltd (富士康控股) said the sale of excess facilities and termination of unprofitable operations would help the company post a “dramatic improvement” in financial results this year.
The company plans to consolidate sites in Beijing, Lang Fang and Tianjin in China and will sell a facility in Taiyuan to its parent, chief executive officer Samuel Chin (陳偉良) said after the company’s annual general meeting in Hong Kong yesterday. Foxconn will also diversify by adding new customers, while expanding relationships with companies including Huawei Technologies Co (華為).
“Profitability, profitability, profitability: That’s our drive,” Chin said at a press briefing.
ITRI to receive award
The Industrial Technology Research Institute (ITRI, 工研院) was to receive the Society for Information Display’s Silver Display Component of the Year Award yesterday in Los Angeles for its invention of a flexible substrate for displays.
The invention is currently the first and only technology to allow for the mass production and development of flexible and transparent displays of all sizes, according to an ITRI statement.
This year’s Display of the Year Awards recognize innovative display products, components and applications that hold the most promise for shaping the future of the global display industry.
Chunghwa joins up with China
Chunghwa Telecom Co (中華電信) and China Telecom Corp (中國電信) signed an agreement to cooperate on cloud computing, including technology development, the Taipei-based firm said in a stock exchange statement yesterday.
GRETAI to sponsor seminar
GRETAI Securities Market, the operator of the nation’s biggest debt exchange, is to sponsor a seminar on Tuesday on an initial public offering (IPO) and Taiwan depositary receipt (TDR) issuances, the institution said on its Web site.
The seminar, to be held from 2pm to 6pm at the Grand Hyatt in Taipei, is intended to help set up a high-tech and innovative businesses’ fund-raising platform, the institution said.
NT gains ground against dollar
The New Taiwan dollar gained ground against the US currency yesterday, adding NT$0.015 to close at NT$28.850 on a recovering euro, dealers said.
Turnover totaled US$687 million during the trading session.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
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
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last