Tue, Nov 25, 2014 - Page 14 News List

Taiwan Business Quick Take

Staff writers, with CNA

INVESTMENT

Cross-strait deals approved

The Investment Commission of the Ministry of Economic Affairs yesterday said that it approved Taiwanese glassmaker G-Tech Optoelectronics Corp’s (正達國際) US$20 million investment in a subsidiary based in Chengdu, Sichuan Province. Mega International Commercial Bank (兆豐銀行) was granted permission to wire US$167 million for the setup of a new branch in Ningbo in Zhejiang. US company Costco Wholesale Co has been cleared to allocate its profits of NT$891.57 million (US$28.78 million) toward its investments in Taiwan.

FINANCE

China Development recruit

China Development Financial Holding Corp (中華開發金控) yesterday said its board of directors approved the hiring of new chief financial officer Eddie Chen (陳彥松) — former financial executive of E Ink Holding Co (元太科技) — to help the company expand overseas, the firm said in a statement submitted to the Taiwan Stock Exchange.

STOCK MARKET

TAIEX rises pre-elections

The TAIEX edged higher yesterday, but investors were generally cautious with Saturday’s local government elections looming, dealers said. The index closed up 30.8 points, or 0.33 percent, at 9,122.33 on relatively low turnover of NT$76.129 billion. Encouraged by a record high on Wall Street, the market opened up 52.89 points, but could not sustain the upward momentum.

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