Central bank sells NCDs
The central bank sold NT$100 billion (US$3.4 billion) of 364-day negotiable certificates of deposit (NCD) at an average interest rate of 1.054 percent at an auction yesterday, it said in a statement.
The sale attracted bids for 2.65 times the amount on offer, the bank said, adding that it would issue the 364-day NCD on Monday.
This was the 17th auction of 364-day NCDs by the bank since April last year, as the local market has been awash in liquidity.
The central bank said the sale of the instruments since April last year was the equivalent of increasing bank reserve requirements by 4.55 percentage points.
Chinatrust Financial profits fall
Chinatrust Financial Holding Co (中信金控) yesterday posted NT$1.59 billion (US$54.61 million) in net profit for last month, slowing 42.94 percent from June, the nation’s third-largest financial service provider by assets said in a statement.
It attributed the monthly decline to a high base resulting from more recognition of bad loan recoveries and dividend yields in June, the statement said.
It also said that last month saw stable growth in interest and fee incomes.
For the first seven months, net income amounted NT$12.73 million, translating into earnings of NT$1.22 per share, it said.
ITRI signs research MOU
The Industrial Technology Research Institute (ITRI) signed a memorandum of understanding (MOU) with the Lawrence Berkeley National Laboratory (LBNL) yesterday to work together on energy technology.
They will work to develop photovoltaic energy systems, large electricity storage technology, nanomaterials to capture carbon dioxide, green buildings and water-related technology.
Since 2004, the ITRI and the Berkeley Lab — a US Department of Energy Office of Science national lab — have been working together to develop energy and nanotechnologies, the institute said.
Fubon Financial sells stock
Fubon Financial Holding Venture Capital Co (富邦金控創投) booked a gain of NT$576 million from selling 4.57 million shares in Fubon Multimedia Technology Co (富邦媒體科技), Fubon Financial Holding Co (富邦金控), the companies’ parent, said in a statement to the Taiwan Stock Exchange yesterday.
‘Destructive innovation’ urged
The super-slim and extra-powerful Ultrabook notebooks, which will debut globally next month, could be a short-lived hot seller, Acer Group (宏碁集團) founder Stan Shih (施振榮) said on Thursday, as he called for “destructive innovation” in the PC industry.
All PC innovations couldn’t and shouldn’t be dependent solely on Apple Inc — whose iPads and iPhones are selling like hotcakes in the global markets, he said.
Citing a case of “destructive innovation,” Shih said that Microsoft Corp’s decision to make its Windows operating system support ARM processors in notebooks is an innovation that “thinks out of the box.”
Processors of the ARM architecture are currently used in mobile phones and boast features such as “instant on.”
NT dollar drops
The New Taiwan dollar fell against the US currency yesterday, down NT$0.073 to close at NT$29.025 on a funds exodus as the local bourse took a beating after a Wall Street dive overnight amid concern over the global economy, dealers said.
Asian currencies largely trended lower against the greenback, led by the South Korean won and Malaysia’s ringgit, they said.
Turnover totaled US$1.531 billion during the trading session, up from US$936 million on Thursday