TAIEX closes up 0.16%
Shares in Taipei yesterday ended slightly higher after moving in consolidation mode throughout the session. Turnover was reduced amid lingering concerns about US-China trade tensions after new tariffs imposed by Washington and Beijing against each other’s goods took effect on Sunday, while turmoil in Hong Kong also kept many investors away from the trading floor. The TAIEX closed up 16.80 points, or 0.16 percent, at the day’s high of 10,634.85, on turnover of NT$104.833 billion (US$3.34 billion). Foreign institutional investors bought a net NT$3.93 billion of shares on the main board, the Taiwan Stock Exchange’s data showed.
Acer unit plans rights issue
Acer Cyber Security Inc (安碁資訊), a subsidiary of PC brand Acer Inc (宏碁), yesterday said that it is planning a rights issue to raise NT$204 million to strengthen its working capital ahead of its debut on the local over-the-counter market. Its board of directors has approved a plan to issue a maximum of 3.71 million new shares at NT$55 per share, it said in a statement. The company swung back into profit last year, with earnings per share of NT$4.72. Cumulative revenue in the first seven months of the year rose 27.62 percent year-on-year to NT$320 million.
Teachers offered AI courses
MediaTek Inc (聯發科) yesterday announced a collaboration with the Taiwan Semiconductor Research Institute (TSRI) to provide “cutting-edge artificial intelligence (AI)” courses for teacher training to help nurture future professionals for the nation’s AI industry. The courses, which are based on MediaTek’s AI NeuroPilot platform and use its AI processing unit, started last week in Hsinchu and Tainan, with more than 80 participants from more than 10 universities and vocational institutions, MediaTek said. It is to also provide 30 software systems for AI platform development through the courses, a company statement said.
Singapore may gain from HK
Singapore’s hotels, entertainment venues and restaurants could be the prime beneficiaries of increased tourism as the Hong Kong protests rage on, DBS Bank Ltd said yesterday. The protests over the past 13 weeks have hurt the territory’s tourism sector, with visitor arrivals falling by 12 percent over June and July to about 5.2 million, the Hong Kong Tourism Board said. If 30 percent to 50 percent of travelers from key markets such as China, the UK and US now divert their trips to other Asian cities, “there could be 5-8 percent boost to monthly tourist arrivals,” with Singapore primed to reap the rewards, DBS said in a note.
Ai-1 Sport on sale
Motorcycle vendor Aeon Motor Co's (宏佳騰) sub-brand A Moto (宏佳騰智慧電車) released its first electric scooter, the Ai-1 Sport, which comes in five colors, on Wednesday. It uses the same motor and battery swapping system as Gogoro Inc’s (睿能創意) S2 series. The scooter features the Croxera 5 smart dashboard, that can direct riders with audio and visual guidance to the nearest battery swapping station, an a Moto official said yesterday. A Moto last month opened 12 battery swapping and repair outlets, and a bigger battery swapping station in Kaohsiung, the official said. The company is working on a second electric scooter with Gogoro, she added.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
‘LITTLE CHOICE’: The airline said it expected only about 8,000 of its 29,000 employees to be working by next month, but hoped to have 21,000 in the next two years Qantas Airways Ltd plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs as Australia’s largest airline tries to survive the coronavirus pandemic. Qantas yesterday announced a plan to reduce costs by billions of dollars and raise fresh capital. The plan includes grounding 100 planes for a year or more and immediately retiring its six remaining Boeing Co 747 planes. Chief executive Alan Joyce said the airline has to become smaller as it braces for several years of much lower revenues. He said the furloughed workers faced a long interruption to their airline careers. “The actions that we’re taking
Apple Inc’s decision to stop using Intel Corp processors in its Mac computers and switching to its own chips might benefit Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and boost Taiwan’s high-tech exports, Australia and New Zealand Banking Group (ANZ) said in a note on Tuesday. The US tech giant announced the “Apple silicon” initiative at its annual Worldwide Developers’ Conference, which started on Monday. The company said the first Mac powered by its own chips would debut by the end of this year and all product lines might shift to the new architecture in the next two years. TSMC is likely to
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price