TAIEX recoups early losses
Share prices recouped early losses to return to positive territory yesterday after -government-run funds resumed buying in large-cap stocks in a bid to offset the impact of the financial crisis in the eurozone and shore up market confidence, dealers said.
While the TAIEX climbed from the day’s low below the 6,900 point mark, turnover remained thin as many investors stayed cautious, watching closely to see if the European financial ministers meeting would decide on new bailout funds for debt-ridden Greece, dealers said.
The TAIEX closed up 33.90 points, or 0.48 percent, at 7,047.87, after moving between 6,889.99 and 7,047.99, on turnover of NT$88.95 billion (US$2.90 billion).
Reference figures out: Chang
The government plans to tax real estate based on transaction prices in stages instead of using reference figures, Deputy Minister of Finance Chang Sheng-ford (張盛和) said by telephone yesterday.
The government now calculates the tax based on its assessment of the property, Chang said, which are usually lower than market prices. There is no fixed timetable for the new levy, he said.
On Monday, Minister of the Interior Jiang Yi-huah (江宜樺) said real-estate tax based on transaction prices, which President Ma Ying-jeou (馬英九) has pledged to achieve gradually, could be implemented in three to five years.
Furukawa to build new plant
Japanese firm Furukawa Electric Co is spending NT$4.6 billion to expand in Taiwan, including building a new plant in Yunlin County to produce electrodeposited copper foils.
The Ministry of Economic Affairs on Monday said that Furukawa would spend NT$2.45 billion in setting up a plant to produce the copper foils, which are used in automobile lithium-ion batteries.
The plant marks Furukawa’s first such overseas facility and is slated for mass production in August next year.
The company is also investing NT$2.1 billion to boost copper foil output for printed circuit boards at an existing facility in Yunlin, the ministry said.
NexPower write-off announced
United Microelectronics Corp (聯電), the world’s second--largest contract chipmaker, said its NexPower Technology Corp (聯相光電) affiliate wrote off NT$1.239 billion from the impairment of assets in the third quarter, the Hsinchu-based chipmaker said a filing to the Taiwan Stock Exchange yesterday.
Chunghwa to introduce platform
Chunghwa Telecom Co (中華電信), the largest telecom operator in Taiwan, will introduce its “-Chunghwa cloud market” service platform tomorrow — the first of its kind in the country.
The cloud market can help independent software vendors find a client base with increased precision and thus help them save on marketing costs, according to Chunghwa officials.
The new service will also enable small and medium-sized enterprises to rent software and hardware on the platform, helping them to lower their operating costs, they added.
The company said the service is part of its plan to establish an integrated platform that speeds up cloud computing applications in the country and creates low-cost and highly efficient services.
NT dollar falls against US
The New Taiwan dollar fell against the US dollar yesterday, down NT$0.093 to close at NT$30.680, a reflection of the weakness of Asian currencies, led by a falling euro, dealers said.
Turnover totaled US$949 million during the trading session.
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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