MOTOR SPORT
Formula One delays IPO
Motor racing business Formula One Group has decided to delay its initial public offering (IPO) on the Singapore stock exchange because of global market weakness, the Wall Street Journal said yesterday, quoting unnamed sources. Formula One, whose major shareholder is private equity firm CVC Capital Partners, was in pre-marketing mode and had been planning to launch a preliminary prospectus with the Monetary Authority of Singapore by Tuesday, the newspaper added.
ELECTRONICS
Sharp to upgrade displays
Japanese electronics maker Sharp Corp says it is upgrading its current displays to make them slimmer and clearer. Sharp also said yesterday that its innovation is based on technology that reduces power consumption. For liquid crystal displays, the technology, called IGZO, requires little adjustment to production lines or investment. The upgrade will be introduced this fiscal year. The technology can also be applied to organic LED screens, which can be paper-thin.
TELECOMS
KPN mulls E-plus sale
Dutch telephone company Royal KPN NV says it is considering selling the third-largest mobile operator in Germany, E-Plus, to thwart a hostile bid by Mexican operator America Movil for a minority stake in KPN. Movil, controlled by billionaire Carlos Slim, has offered 8 euros (US$9.90) per share for enough KPN shares to give it a stake of just under 30 percent — the threshold at which it must by Dutch law launch a full takeover bid. KPN’s management said yesterday it had advised investors not to accept the Movil bid, dismissing it as too low and “opportunistic.”
GERMANY
Q1 exports increase 5.8%
New figures show the nation’s exports increased 5.8 percent in the first quarter of this year compared with the same period last year, but slowed within the EU market and dropped sharply in those European nations worst hit by the financial crisis. The Federal Statistical Office reported yesterday that exports grew to 276 billion euros in the first quarter compared with 260.9 billion euros a year earlier. Exports within the EU grew 2.2 percent to 161.2 billion euros, and only 0.9 percent in the other 16 countries using the euro to 107.4 billion euros.
SOUTH KOREA
Exports fall for third month
The nation’s exports declined year-on-year for a third straight month last month as eurozone turbulence and China’s slowdown took their toll on the export-dominated economy, official figures showed yesterday. Exports for last month fell 0.4 percent from a year earlier to US$47.2 billion, according to preliminary data from the Ministry of Knowledge Economy. Imports were down 1.2 percent at US$44.8 billion. However, inflation remained moderate last month, with the consumer price index rising 2.5 percent from a year earlier. The year-on-year increase was unchanged from April.
SOFTWARE
Windows test version out
Microsoft on Thursday released the final test version of its next-generation Windows software crafted to power devices ranging from tablets to desktop computers. “We are thrilled to be at this milestone with the Windows 8 Release Preview,” Windows and Windows Live division president Steven Sinofsky said. The nearly finished Windows 8 software is available for download in 14 languages at preview.windows.com.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
PRECEDENTED TIMES: In news that surely does not shock, AI and tech exports drove a banner for exports last year as Taiwan’s economic growth experienced a flood tide Taiwan’s exports delivered a blockbuster finish to last year with last month’s shipments rising at the second-highest pace on record as demand for artificial intelligence (AI) hardware and advanced computing remained strong, the Ministry of Finance said yesterday. Exports surged 43.4 percent from a year earlier to US$62.48 billion last month, extending growth to 26 consecutive months. Imports climbed 14.9 percent to US$43.04 billion, the second-highest monthly level historically, resulting in a trade surplus of US$19.43 billion — more than double that of the year before. Department of Statistics Director-General Beatrice Tsai (蔡美娜) described the performance as “surprisingly outstanding,” forecasting export growth
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