Fri, May 17, 2013 - Page 14 News List

Taiwan Business Quick Take

Staff writer with CNA

ENERGY

Giga forms EU partnership

Giga Solar Materials Corp (碩禾), which supplies solar conductive paste, yesterday said it has subscribed the corporate bonds of one of Europe’s top three solar companies for 2.29 million euros (US$2.95 million). The deal came after the European Commission is set to announce punitive tariffs on solar panels imported from China early next month. As part of the deal, Giga Solar won a two-year contract to supply the European solar module maker. The company could ship at least 2 million tonnes of aluminum paste and an unspecificed amount of silver paste to the solar module maker. Giga Solar said its European partner raised its solar module shipments by 83 percent in the first quarter of the year from a year ago. Giga Solar shares rose 2.55 percent in Taipei yesterday to NT$281 after the deal was disclosed before the stock market opened.

CURRENCY

Central bank buoys NT dollar

The New Taiwan dollar dropped against the US dollar yesterday, losing NT$0.022 to close at NT$30.050 as the greenback recovered from early losses with the help of the central bank, dealers said. The central bank’s buying of the US dollar showed its determination to maintain the currency above the NT$30 mark in a bid to preserve the nation’s global competitiveness at a time when the Japanese yen and the South Korean won are on a downtrend, dealers said. Before the central bank’s intervention, the US dollar was taking a beating, dealers said.

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