Toshiba in chip sales boost
Japanese electronics maker Toshiba Corp plans to boost the value of its chip sales by two-thirds by the financial year ending March 2011, it said yesterday. The company aims to raise its chip sales to ¥2 trillion (US$16.2 billion) from sales of ¥1.2 trillion last fiscal year by selling more NAND flash memory chips, a Toshiba spokesman said. Demand for the NAND chips, used in cell phones, personal computers, digital cameras and MP3 players, is growing. Toshiba said, to help it achieve the ¥2 trillion sales target, it would raise its monthly capacity at its NAND chip plant in Yokkaichi, Mie prefecture, to 150,000 300mm wafers by September.
HSBC raises Vietnam stake
Global banking giant HSBC said it has received approval from the State Bank of Vietnam to increase its stake in a Vietnamese bank in a deal worth US$33.7 million. HSBC has raised its shareholding in Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) to 15 percent from 10 percent. The deal came after Vietnam passed a decree in April to allow foreign banks to own 15 percent of a domestic commercial bank, which may be increased further to 20 percent after approval from the government.
Sensex predicted to soar
India's Sensex will reach 16,000 this year, the upper end of a projected range, as earnings climb and concerns about rising interest and inflation rates ease, Citigroup Inc said. The brokerage estimated the Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, would trade between 14,700 and 16,000 points by December. The index rose to an intraday record of 15,075.30 yesterday, surpassing the high set on Friday. Citigroup expects the index to trade between 17,500 and 18,400 points by December next year, the brokerage said.
Plan to cut Thai rate gap
The Bank of Thailand will allow overseas investors to renew their baht swap contracts with domestic banks as part of an attempt to reduce the gap in the currency's exchange rate in offshore and onshore markets. Overseas investors can buy the swap contracts to cover the exchange rate risk of their investments if those assets were bought before the imposition of capital controls in December, Suchart Sakkankosone, the bank's exchange control director, said yesterday.
Vodafone opens Hanoi office
Vodafone Group PLC, the world's largest mobile phone company, opened an office in Hanoi last month as it seeks opportunities ahead of the possible sale of Vietnamese government-owned wireless operators. "We set up an office in Hanoi last month to monitor the situation," said Ben Padovan, a spokesman for the Newbury, England-based Vodafone. Vietnam has "growth" opportunities in the wireless market. Under chief executive Arun Sarin, Vodafone has focused on acquisitions and partnerships in emerging markets. The company completed its purchase of a controlling stake in India's Hutchison Essar Ltd in May for US$10.7 billion. Growth in western Europe has slowed as most people there now have mobile phones. "Ahead of the anticipated equitization of local GSM mobile network operators, Vodafone has opened a representative office in Vietnam to learn more about the market," Padovan said.
SCHEDULE: The delegation is due to meet with President Tsai Ing-wen this morning and witness the signing of an MOU on bilateral health cooperation in the afternoon US Secretary of Health and Human Services (HHS) Alex Azar yesterday arrived in Taipei aboard a US government plane at the head of a delegation that is the highest-level visit by a US official since Washington switched diplomatic recognition to China in 1979. Azar’s flight landed at Taipei International Airport (Songshan airport) at 4:48pm, nearly one hour earlier than scheduled, the Ministry of Foreign Affairs said. The apron where it landed is reserved for military aircraft, the Songshan Air Force Base Command said. The members of Azar’s delegation included HHS Assistant Secretary for Preparedness and Response Robert Kadlec, HHS Chief of Staff Brian
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
‘CROSS-STRAIT CONSIDERATIONS’: Groups said that the Ministry of Education’s policies excluded Chinese and students should not be blocked over political issues The Taiwan International Student Movement yesterday said it would protest today outside the Ministry of Education in Taipei against a policy that excludes some Chinese students from returning to Taiwan amid the COVID-19 pandemic. Since June 17, the ministry has allowed foreign students from 19 “low risk” and “medium-low risk” countries and regions to enter Taiwan. On July 22, it announced that it was relaxing restrictions to include students from all countries and regions who are graduating this semester and on Wednesday it further expanded entry to students enrolled in degree programs. A letter sent by the ministry on Wednesday to universities did
The military last week sent “no small number” of Marine Corps officers to the Pratas Islands (Dongsha Island, 東沙群島) following reports of a Chinese People’s Liberation Army (PLA) drill targeting the islands scheduled for this month. In an interview with Hong Kong’s Bauhinia Magazine published on Saturday last week, PLA National Defense University professor Li Daguang (李大光) confirmed that the Chinese army was planning to stage a simulated invasion of the Pratas Islands in the South China Sea this month. The islands comprise three atolls, with Pratas Island, at 1.74km2, being the largest. They lie southwest of Taiwan proper in the South