Forrester expects IT rebound
Global spending on information technology (IT) will rebound this year, rising more than 6 percent to top US$1.6 trillion, Forrester Research Inc said yesterday.
“The technology downturn of 2008 and 2009 is unofficially over,” Forrester vice president and principal analyst Andrew Bartels said in a release. “All the pieces are in place for a 2010 tech spending rebound.”
The industry tracker said that global purchases of computer gear will rise 8.2 percent while spending on software will increase 9.7 percent.
“We are entering a new six- to seven-year cycle of IT growth and innovation,” Bartels said.
Global spending on information technology sank 8.9 percent in 2009, Forrester said.
7-Eleven stores offer loans
President Chain Store Corp (統一超商), the nation’s largest convenience store operator, said yesterday it had teamed up with Chinatrust Commercial Bank (中國信託商銀) to provide personal loan services at its more than 4,700 7-Eleven convenience stores in Taiwan.
The two companies said in a joint statement they started the new services yesterday, allowing customers to apply for loans of up to NT$2 million at the ibon electronic kiosks at 7-Eleven stores.
Chinatrust is the nation’s largest credit card issuer and owns a network of 145 bank branches in Taiwan.
Vibo launches smartphone
Local telecom operator Vibo Telecom Inc (威寶電信) launched its first smartphone running the Android system on Tuesday, joining the nation’s three biggest phone companies in offering the popular Android smartphones.
The phone, made by Foxconn International Holdings Ltd (富士康), is the first own-brand handset, called Vibo A688, offered by Vibo.
Vibo expects between 200,000 and 300,000 of its subscribers to switch to smartphones in the near future. Vibo had 1.5 million users as of the end of last year and it aimed to increase the customer base to 2 million this year.
Vibo also launched 2 online application stores dubbed iMarket and MuchMarts.
China fund could earn 10%
China’s sovereign wealth fund could earn more than 10 percent from its investments for last year, up from 6.8 percent for the previous year, state media reported yesterday.
China Investment Corp’s (中國投資公司) holdings improved as the global economy and financial markets showed signs of recovery, the official Shanghai Securities News reported, citing an unnamed source.
The report said the fund may expand the scope of its investments and will probably add the high-speed railway sector in the US to its underperforming overseas portfolio, without elaborating.
NT dollar falls
The New Taiwan dollar slipped yesterday for a second day, after the central bank highlighted the benefits of capital controls in a press release on Tuesday.
The NT dollar declined as much as 0.2 percent to NT$31.84 versus the greenback before trading at NT$31.809 as of 4pm, compared with NT$31.79 on Tuesday, Taipei Forex Inc said.
The local currency also declined on concern spending will cool in China, the biggest buyer of Taiwan’s exports, after the People’s Bank of China on Tuesday ordered lenders to set aside more funds as reserves.
The risk is that “[China’s] central bank will impose capital controls,” said Henry Lin, a foreign-exchange trader at Shin Kong Commercial Bank (新光銀行). “China may raise interest rates to calm down economic growth. The Taiwan dollar could weaken to NT$32 this week.”
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