Cathay Financial's US woes fade
BETTER DAYS:
The company's exposure to collateralized debt obligations has declined from a peak of NT$29 billion last year to NT$21.63 billion, its chief strategy officer said
By Lisa Wang Cathay Financial Holding Co Ltd (國泰金控), the nation's biggest financial service provider by assets, yesterday said the negative impact of the US subprime mortgage crisis was waning and the company must now deal with the problem of short-term impact from the volatile foreign exchange market.
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Shares rally 2.25% ahead of vote
By Kevin Chen Shares climbed 2.25 percent yesterday, the last trading session before the presidential election, driven primarily by expectations that cross-strait relations will improve after the election, analysts said.
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Decline in interest rates abroad may cost central bank
UPS AND DOWNS:
Local earnings from the US have also been hurt as the NT dollar rises in response to a widening gap in rates with the US
The central bank's income may be hurt by falling global interest rates, central bank Governor Perng Fai-nan (彭淮南) said.
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China Metal buys 10 more floors at Taipei's Asiaworld
GOOD DEAL:
Sinyi Real Estate said the bidding price was slightly lower than the average market price for the area, which is NT$500,000 per ping
By Jerry Lin China Metal Products Group (CMP Group, 勤美集團) has become Asiaworld Shopping Mall's (環亞購物廣場) largest property owner after it bought 10 floors of the building for NT$3.72 billion (US$121.1 million) on Thursday, following its purchase of the building's first and second floors late last year.
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Sony, Nokia in patent violation probe
Sony Corp and Nokia Oyj were among 30 companies named in a probe by the US International Trade Commission into allegations they violated a patent for technology used in electronics such as Blu-ray DVD players.
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China penalizes Web sites for questionable content
STRIKING A BALANCE:
While the Chinese Communist Party wants to make money from video-sharing sites, it's struggling to keep control of the new mass media
China will shut down or punish dozens of video-sharing Web sites for carrying content deemed pornographic, violent or a threat to national security under rules that tighten Internet controls, a regulator said yesterday.
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Empty seat at BOJ worries officials
The Bank of Japan chief vowed yesterday not to let the absence of a governor hamper the country's economic and financial activities, while another bank official said the economy is "sharply" slowing.
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Samsung to build cellphone plant in northern Vietnam
Samsung Electronics Co plans to build a US$670 million plant to make mobile phone handsets in northern Vietnam, a Vietnamese official said yesterday.
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Business Briefs
Taiwan to sell bonds
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