■ Electronics boost TAIEX
Share prices closed 0.45 percent higher yesterday, supported by key electronics blue chips Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and United Microelectronics Corp (UMC, 聯電), dealers said. However, other major technology stocks fell as investors cashed in on early morning gains driven by the overnight rise on NASDAQ, they said. The TAIEX rose 29.57 points at 6,642.96, on turnover of NT$105.08 billion (US$3.26 billion). Decliners outnumbered risers 542 to 410, with 182 stocks unchanged. TSMC closed up NT$2.30 at NT$62.70 and UMC added NT$0.20 at NT$19.40.
■ Lawsuit threat over ETC fuss
Far Eastern Electronic Toll Collection Co (遠通電收) said it would take legal actions if its rivals and others continue to tarnish its reputation amid the uproar over its Electronic Toll Collection (ETC) system. The company has done nothing illegal and hoped thorough investigations could be launched soon to resolve the ETC dispute, it said in a statement. After a court ruled last week that the government had erred in picking the system, the number of ETC requests dropped dramatically, the company said, but "returned to more than 800 units on Wednesday." More than 90 people have applied for refunds for the required on-board units.
■ Chunghwa sweetens offer
Chunghwa Telecom Co (中華電信) is offering a new retirement program in a bid to rejuvenate its work force and boost efficiency, it said in a statement yesterday. The latest early retirement offering is the sixth program the company has offered since 2001. The program will run until the end of the month. Employees 47 years old and up are eligible. The new program offers up to 17 months salary as compensation, the statement said. Chunghwa Telecom has cut around 20 percent of its workforce in the past few years and has seen the number of employees drop from 35,000 to 27,500. The company wants to hire more young professionals to improve its competitiveness.
■ CDFH adds to portfolio
China Development Financial Holding Corp (CDFH, 中華開發金控), the nation's seventh-biggest financial services group by market value, has increased its stake in Taiwan International Securities Corp (金鼎證券) to 32.1 percent. China Development said in a statement late on Wednesday that it had bought 63 million shares, or 5.8 percent, of Taiwan International, which completed the merger of two smaller rivals -- First Securities Co (第一證券) and Far Eastern Securities Co (遠東證券) -- on Feb. 27.
■ Card debt talks succeeding
Negotiations on credit-card debt repayment have a success rate of more than 80 percent so far, Financial Supervisory Commission Chairman Kong Jaw-Sheng (龔照勝) said yesterday. "Out of the 14,000 card-debt inquiries from borrowers, 7,041 of 8,773 negotiations were successful, involving capital exceeding NT$10 billion," he said. Taishin International Bank (台新銀行) staff said that they receive 300 to 400 telephone inquiries about debt negotiations a day, and that the bank has resolved 300 cases so far. The commission said it receives around 1,000 phone calls a day from borrowers requesting credit-card debt talks with banks.
■ NT dollar slips
The New Taiwan dollar lost ground against its US counterpart yesterday, declining NT$0.027 to close at NT$32.310 on the Taipei foreign exchange market. Turnover was US$940 million.
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