■ TAIEX down on profit-taking
Shares closed 0.38 percent lower yesterday as profit-taking stepped up in late trade and reversed an earlier upswing driven by another record finish on Wall Street overnight in the aftermath of the US midterm elections, dealers said.
The TAIEX closed down 27.21 points at 7,151.13, on turnover of NT$139.51 billion (US$4.24 billion).
On the Taipei foreign exchange market, the New Taiwan dollar traded in a tight range against the US dollar, declining NT$0.001 to close at NT$32.87. A total of US$807 million changed hands.
■ Yageo sells Tait stake
Yageo Corp (國巨) yesterday announced that it had transferred its 19.5 percent stake (32.25 million shares) in Tait Marketing and Distribution Co (德記洋行) to Uni-President Enterprises Corp (統一企業) in the open market. The transfer price was NT$9.75 per share with the total proceeds amounting to NT$314.4 million (US$9.6 million).
The decision follows Uni-President's announcement on Tuesday that it wanted to acquire one-fifth of Tait to expand its distribution channels and strengthen logistic services.
■ Bank, insurance firm upgraded
Fitch Ratings yesterday upgraded its individual rating of Cathay United Bank (國泰世華銀行) and affirmed its support given the bank's solid management, strong franchise, consistent profitability, sound asset quality and above-industry-average capitalization.
Taiwan Ratings Corp (中華信評) yesterday also revised its outlook rating on Shin Kong Insurance Co (新光產險) to positive from stable given improved risk controls.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
TECH CLUSTER: The US company’s new office is in the Shalun Smart Green Energy Science City, a new AI industry base and cybersecurity hub in southern Taiwan US chip designer Advanced Micro Devices Inc (AMD) yesterday launched an office in Tainan’s Gueiren District (歸仁), marking a significant milestone in the development of southern Taiwan’s artificial intelligence (AI) industry, the Tainan City Government said in a statement. AMD Taiwan general manager Vincent Chern (陳民皓) presided over the opening ceremony for the company’s new office at the Shalun Smart Green Energy Science City (沙崙智慧綠能科學城), a new AI industry base and cybersecurity hub in southern Taiwan. Facilities in the new office include an information processing center, and a research and development (R&D) center, the Tainan Economic Development Bureau said. The Ministry
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
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