Technology stocks lift TAIEX
The TAIEX closed up 1.37 percent yesterday, lifted by high-tech stocks that benefited from Apple Inc’s announcement of its latest tablet computer on Wednesday, dealers said.
The benchmark index closed 118.47 points higher at 8,738.37, after moving between 8,661.63 and 8,758.89, on turnover of NT$130.31 billion (US$4.4 billion).
Semiconductor and flat-panel stocks were also boosted by the government announcement on Wednesday on allowing Chinese firms to invest in these sectors.
A total of 2,960 stocks closed up, 1,427 finished down and 459 remained unchanged.
Carlyle to sell cable TV stake
The Carlyle Group is seeking to sell its stake in local cable TV network Eastern Broadcasting Co (東森電視) for between NT$17 billion and NT$20 billion, the Chinese-language Commercial Times reported, without saying where it got the information.
The US private equity firm in 2006 acquired stakes in a collective purchase of Eastern Broadcasting, Eastern Multimedia and Eastern Home Shopping Network (東森得易購) for NT$48 billion to NT$50 billion.
ICBC to offer more loans
The Industrial and Commercial Bank of China Ltd (ICBC, 中國工商銀行) will increase loans to Taiwanese companies in China, as part of its support for the government’s target to help small and medium-sized enterprises in China, bank president Yang Kaisheng (楊凱生) said in Beijing yesterday.
Meanwhile, China will actively promote cross-strait cooperation and the Economic Cooperation Framework Agreement with Taiwan (ECFA), according to the text of a speech to be delivered yesterday by Jia Qinglin (賈慶林), head of the Chinese People’s Political Consultative Conference, in Beijing.
Chinese solar firms eye Africa
Chinese solar power producers are trying to attract more clients in Africa, where nearly two-thirds of the population lives off the electric grid.
Organizers of the African Energy Indaba in Johannesburg said yesterday that 60 of 80 stands at the conference were Chinese vendors.
By contrast, Germany, the leader in solar energy in the West, sent only representatives from its chamber of commerce.
Shenzhen Xunlei plans US IPO
Shenzhen Xunlei Network Technology Ltd (深圳迅雷網路技術), a Chinese video and music file-sharing company partly owned by Google Inc, is planning to raise about US$200 million in an initial public offering (IPO) in the US this year, according to two people with knowledge of the situation.
The company has hired underwriters including JPMorgan Chase & Co and Deutsche Bank AG for its IPO, said the people, who declined to be identified because the plans aren’t public.
Xunlei had about 190 million online video users at the end of last year and also offers other Web services, including games.
Aviva plans asset sales
Aviva, Britain’s No. 2 insurer, said yesterday it could sell assets this year as part of a plan to concentrate on the countries where it was best established.
CEO Andrew Moss said the firm would focus more closely on its most profitable markets, at the expense of other territories.
“We are going to focus on and invest in 12 key markets; and on the positive side, you will see that investment in those markets,” he told reporters on a conference call.
NT dollar gains ground
The New Taiwan dollar rose NT$0.123 to close at NT$29.542 on turnover of US$659 million yesterday.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
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