Minister to visit Vietnam
Minister of Economic Affairs John Deng (鄧振中) yesterday said he will visit Vietnam between August and the end of this year to discuss the renewal of an investment protection agreement. “The Taiwan-Vietnam investment protection agreement was signed in 1993 and it is necessary to renew the content of the agreement as soon as possible,” Deng told a media briefing. Deng said the Ministry of Economic Affairs sent a draft of renewal agreement to the Vietnamese government, pending Vietnam’s response. He said the anticipated bilateral-ministerial meeting with Vietnam is also expected to discuss the possibility of simplifying customs inspections.
Pact to boost passengers
A new cross-strait agreement aimed at opening Taiwan’s airports to Chinese transit travelers is expected to enhance Taiwanese airlines’ long-haul passenger load factor, with benefits limited to current routes for the time being, UBS Securities Asia Ltd said yesterday. UBS said the new agreement is expected to attract between 400,000 and 800,000 additional passengers a year, or between 10 and 20 percent of total Chinese visitors to Taiwan last year. After the new policy takes effect in the middle of this year, incremental traffic could translate into 1.6 percent and 2.5 percent additional revenue for China Airlines Ltd (CAL, 中華航空) and EVA Airways Corp (EVA, 長榮航空) next year, the brokerage said.
Unimicron shares up 4.56%
Unimicron Technology Corp (欣興電子) shares surged 4.56 percent yesterday as investors said the Taoyuan-based printed circuit board (PCB) maker might have bottomed out last quarter. In the first quarter, Unimicron posted an operating loss of NT$733 million due to continual losses from its new plant for Intel Corp and lower utilization rates for all its product lines stemming from Apple Inc’s seasonality and weak PC demand. Unimicro said business for this quarter would improve because of the recovering utilization from high-density interconnect (HDI) PCB and flexible PCB. However, CIMB Securities said the company’s IC substrate, the main source of its losses, would not see much improvement this quarter and might continue to report an operating loss due to weak demand and production bottlenecks.
Far EasTone sets app target
Far EasTone Telecommunications Co (遠傳電信) yesterday said it is targeting 1 million downloads of the company’s “friDay APP Assistant” app by the end of this year, which has been downloaded by 500,000 users since its launch in November last year. The company plans to open a “friDay APP Assistant” app store next month, hoping to provide 10,000 mobile games this year, Charlene Hung (洪小玲), executive vice president of Internet and commerce at Far EasTone, said on the sidelines of an event to highlight the company’s latest collaborations with more than 10 game publishers.
M2 outpaces M1B gauge
The nation’s M2 broad money supply gauge continued to outpace the M1B narrow indicator last month, as people channeled cash into time deposits, the central bank said on Monday. However, the two gauges’ growths last month were slower than the previous month. The narrow gauge, which refers to cash and cash equivalents, increased 5.85 percent year-on-year last month and lagged behind the M2’s 6.53 percent gain, the central bank said.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB