■ Local, Hong Kong banks in talks
Hsinchu International Bank (新竹企銀), a small Taiwanese lender, is in cooperation talks with a Hong Kong bank, it said in a statement to the Taiwan Stock Exchange. Hsinchu did not name the bank.
"We are now in talks with a Hong Kong bank on the possible areas that we can seek cooperation on," the statement said. "No details or agreement have been reached." The statement gave no further details.
Last week, Fubon Financial Holding Co (富邦金控) offered to buy Hong Kong's International Bank of Asia (港基銀行) for HK$4.3 billion (US$553 million) to improve service to its clients in China.
■ Ford Lio Ho raises prices
Ford Lio Ho Motor Co (福特六和), the local joint venture in which the US automaker has a 70-percent stake, said yesterday that it will hike prices on Metrostar sedans and Mondeo sports cars by an average of NT$20,000, reflecting a strengthening euro.
Both Metrostar and Mondeo -- two medium-sized models that are assembled in Taiwan but equipped with a number of imported European parts and components -- have seen increased cost pressure due to the euro's appreciation of more than 20 percent against the greenback over the past six months, Ford Lio Ho said in a statement.
To lower the models' cost, the 2.5-liter Metrostar A+ sedan will be priced between NT$889,000 and NT$949,000, an increase of about 2 percent from the current NT$869,000 to NT$929,000, the company said. Ford also adjusted the base price for RS Mondeo to NT$949,000 from NT$929,000.
The price hikes will take effect immediately.
■ ProMOS posts Q4 profit
Fourth-quarter profits for ProMOS Technologies Inc (茂德), the nation's second-largest computer memory-chip maker, rose 82 percent over a year earlier.
The company's net income rose to NT$942 million compared with NT$517 million in the same period a year earlier.
Sales rose to NT$8.1 billion from NT$6.2 billion.
ProMos reported NT$330 million in net income for all of 2003.
■ Foreign insurers look to expand
Cardif of France and Prudential Life Insurance of the US have expressed interest in expanding their businesses in Taiwan by acquiring local life insurers, a Chinese-language newspaper reported, citing Mark Wei (魏寶生), director-general of the Ministry of Finance's insurance department.
The paper said Prudential has demonstrated interest in several local insurers, including China Life Insurance Co (中國人壽), Kuo Hua Life Insurance Co (國華人壽), Far Glory Life Insurance Co (遠雄人壽) and Global Life Insurance Co (國寶人壽).
Prudential entered the Taiwan market 14 years ago and Cardif began to set up its Taiwan branch in 1998. The two insurers' revenues from premiums accounted for less than 1 percent of the nation's insurance market last year, the paper said.
■ Fishing group to promote tuna
Officials from the Taiwan Deep Sea Tuna Boatowners and Exporters Association said yesterday that they are adjusting their strategy and will now promote tuna products in the European, US and domestic markets. In the past, tuna catches were mostly destined for Japan.
Taiwan's annual tuna catch is around 363,000 tonnes, ranking first in the world, and bringing in more than NT$40 billion each year.
■ NT dollar rises
The New Taiwan dollar moved up against its US counterpart, advancing NT$0.025 to close at NT$33.105 on the Taipei foreign exchange market.
Turnover was US$1.15 billion.
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