Thu, Jan 03, 2013 - Page 14 News List

[ BUSINESS BRIEFS ]

Staff writer, with agencies

TAIEX up on US budget deal

The TAIEX ended higher yesterday after the US House of Representatives followed the US Senate by passing a bill to avoid the much-vaunted “fiscal cliff,” dealers said.

Interest featured select large-cap stocks, in particular Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which media reports said was to start supplying chips made using 28 nanometer process to Apple Inc later this year, they said.

The weighted index closed up 79.72 points, or 1.04 percent, at 7,779.22, on turnover of NT$78.26 billion (US$2.69 billion).

Commission approves merger

The Fair Trade Commission yesterday approved a merger between Japan’s Elpida Memory Inc, US-based Micron Technology Inc and Taiwanese DRAM maker Rexchip Electronics Corp (瑞晶).

Following the merger, the new entity is expected to become the world’s second-largest DRAM memorychip maker, after South Korea’s Samsung Electronics Co, which enjoys a 40 percent share of the market, the commission said in a statement.

E Ink Holdings to pay dividends

E Ink Holdings Inc (元太科技), the world’s biggest e-paper display supplier, yesterday said its board has approved allocating NT$9.69 billion for payouts based on the company’s net profits in 2011.

E Ink said has adjusted its investment plan and will relocate some capital to issue dividends for shareholders, backtracking from an earlier plan to not deliver dividends based on its 2011 financial results.

The firm will now issue NT$0.19 per share in cash dividends and 7 percent in stock dividends after posting NT$6.53 billion, or NT$6.05 per share, in net profit in 2011.

Chip designer denies rumors

Global Mixed-Mode Technology Inc (致新), which designs power management chips used in flat panels, yesterday denied a newspaper report that it was in merger talks with Texas Instruments Inc.

Global Mixed-Mode said in a stock exchange filing that a report by the Chinese-language Liberty Times (the Taipei Times’ sister newspaper) that Texas Instruments was mulling buying Global Mixed-Mode for between NT$145 and NT$150 per share was “purely media speculation.”

Unpaid leave increases: council

The number of workers furloughed by their employers has risen slightly in the past two weeks, according to statistics released by the Council of Labor Affairs yesterday.

As of Monday, 4,450 workers from 62 companies had reached agreements with their employers to take leave without pay, with 4,289 of them presently on furlough, the statistics showed.

The number has increased from Dec. 15, when 4,311 workers from 57 companies had agreed to furlough arrangements with their employers, 4,250 of who were on unpaid leave at the time.

Central bank to auction NCDs

The central bank yesterday said it planned to auction NT$100 billion worth of 364-day negotiable certificates of deposit (NCDs) tomorrow.

The last time the central bank auctioned NT$100 billion in NCDs with one-year maturity was on Dec. 7 last year at an average interest rate of 0.73 percent, the lowest level in two years. That was also lower than the 0.758 percent interest rate recorded on Nov. 2, the previous time the central bank sold a similar quantity of 364-day NCDs, the bank’s data showed.

NT dollar gains on greenback

The New Taiwan dollar gained ground against the US dollar yesterday, adding NT$0.046 to close at NT$29.090. Turnover totaled about US$991 million.

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