Recent stock market volatility has disrupted the plans of several domestic financial institutions to increase capital, with some seeing their shares fall below the initial set trading value.
China Life Insurance Co (中國人壽), one of the nation’s top five life insurers, yesterday lowered the convertible price for subordinated bonds issued in 2009 from NT$9.40 per share to NT$8.58, the company said in a stock exchange filing.
The company, which aims to tap China’s bancassurance market, posted a net profit of NT$2.63 billion (US$88.71 million) from January to June, more than double the level in the same period last year, translating into diluted earnings per share of NT$1.37, data showed.
Shares in China Life closed up 0.65 percent to NT$31.05 yesterday, lower than the TAIEX’s 2.17 percent gain, after rallying to NT$46.70 early last month.
The board of state-run First Financial Holding Co (第一金控) on Wednesday extended a deadline for its cash injection plan to Oct. 7, the company said in a separate stock exchange filing.
First Financial, the nation’s fifth-largest financial service provider, earlier set a price of NT$20.5 per share, higher than the closing value of NT$19.4 yesterday, after a 2.17 percent rebound from Wednesday. The company said the extension was necessary for share subscription payments after financial shares tumbled amid worries over the eurozone debt crisis.
First Financial plans to raise NT$16.4 billion in new capital to strengthen asset quality and help its banking subsidiary, First Commercial Bank (第一銀行), expand in China.
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,
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
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
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