GDP to grow by 3% to 4%
The nation’s GDP is expected to grow this year at a rate of between 3 percent and 4 percent, with a better economic outlook in the second half, Minister Without Portfolio Kuan Chung-ming (管中閔) said yesterday.
The economy bottomed out in the first quarter and is expected to pick up in the second half, Kuan said in response to reporters’ questions on whether China’s lower GDP forecast would affect Taiwan’s economic growth.
China earlier this month cut its GDP growth target for this year to 7.5 percent, its lowest rate since 2004.
Kuan said the lower GDP forecast signaled a change in the Chinese government’s policy, but posed little threat to Taiwan’s GDP.
Taiwan’s GDP growth is likely to be maintained at between 3.5 percent and 3.8 percent, amid a global economic downturn, Kuan said.
However, it could be difficult for Taiwan to attain 4 percent GDP growth this year, he said.
MStar, Freescale sign deal
MStar Semiconductor Inc (晨星半導體), the world’s biggest supplier of chips for LCD TVs, has signed a cross-licensing agreement with US chipmaker Freescale Semiconductor Inc to broaden its patent coverage, the company said in a filing to the Taiwan Stock Exchange.
The agreement will provide a better legal shield for MStar in the field of imaging chips, the company said.
No financial terms were disclosed.
Chunghwa, game firm team up
The nation’s biggest telecoms provider, Chunghwa Telecom Co (中華電信), yesterday said it had signed a memorandum of understanding with local online game provider Chinese Gamer International Corp (中華網龍) to provide its cloud-computing technology services for Chinese Gamer International in developing a new game.
This is the first time Chinese Gamer International plans to use cloud-computing technology to develop games. The new game is set to be released in the next quarter.
The service would help Chinese Gamer International solve the problem of slow Internet connection speeds when the number of multiplayers spikes during popular game-playing hours at night.
The telecoms company would also provide servers to deal with sudden increases of Internet traffic.
MediaTek dividends approved
The board of MediaTek Inc (聯發科) approved a plan to pay a dividend of NT$9 per share for last year’s profit, the company said in statement to the Taiwan Stock Exchange yesterday.
Formosa passes dividend plan
The board of Formosa International Hotels Corp (晶華國際酒店集團) approved a plan to pay a cash dividend of NT$10.85 per share for last year’s profit, the company said in a statement to the Taiwan Stock Exchange yesterday.
New Century passes bond sale
The board of Far Eastern New Century Corp (遠東新世紀) approved a plan to sell up to NT$12 billion (US$406.1 billion) in five-year corporate bonds, the company said in a stock exchange filing on Tuesday.
The money will be used to repay short-term debt and strengthen the company’s financial structure, according to the statement.
NT dollar declines
The New Taiwan dollar lost ground against the greenback yesterday, declining NT$0.018 to close at NT$29.576. Turnover totaled US$713 million.
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