ECONOMY
3.74% Q1 GDP growth: ANZ
Australia and New Zealand Banking Group (ANZ) yesterday set its forecast for Taiwan’s GDP growth last quarter at 3.74 percent on the back of better domestic demand. The forecast is higher than the government’s projection in February of 3.5 percent for the January-to-March period. The Directorate-General of Budget, Accounting and Statistics is due to announce first-quarter growth figures on Thursday next week. ANZ in February raised its GDP growth forecast for Taiwan this year from 3.7 percent to 4.2 percent, saying that cheaper oil prices would cut import costs and boost trade surplus.
ELECTRONICS
No stock split for Largan
Largan Precision Co (大立光), which makes smartphone lenses, yesterday said it has not considered a stock split. The firm’s remarks came after its shares surged 4.07 percent to a record high of NT$3,065 yesterday, prompting Hsieh Chin-ho (謝金河), the publisher of the Chinese-language Business Today (今周刊) weekly, to suggest that Largan consider a stock split to lower costs for investors and issue more dividends. Largan said it has not considered such a move as Taiwan lacks relevant regulations, adding that it distributed cash dividends since 2008 and does not plan to alter the policy.
SEMICONDUCTORS
N America rides high: SEMI
The book-to-bill ratio for North American-based semiconductor equipment manufacturers rose to 10 month high at 1.1 last month, indicating a positive sentiment in the industry, trade association SEMI said in a statement on Tuesday. The three-month average of worldwide bookings rose 4.6 percent to US$1.37 billion last month from February, while the three-month average of worldwide billings fell 2.4 percent to US$1.25 billion, which brought the book-to-bill ratio to 1.1 last month, compared with 1.03 in February.
SOLAR POWER
Firm to offer new shares
Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer maker by capacity, yesterday said its board approved a NT$600 million (US$19.3 million) fundraising plan via 34.68 million new shares. Green Energy has decided to price the new shares at NT$17.3 each, it said in a statement. San Chih Semiconductor Co (尚志半導體) and Chih Sheng Holding Co (志生投資) have agreed to subscribe to the new shares, the statement added. Green Energy, San Shih and Chih Sheng are units of Tatung Group (大同集團), a domestic home appliances brand.
ENERGY
Taipower boosts cash prize
State-run Taiwan Power Co (Taipower, 台電) is to host a nationwide power conservation competition with a top prize of NT$500,000 cash. To encourage more people to join the contest, the utility plans to give away a total of NT$22.5 million this year, which is 66 percent more than last year’s total prizes of NT$13.5 million, it said. A total of 88,000 households participated in the competition last year, Taipower said.
INVESTMENTS
Cross-strait funds approved
The Investment Commission yesterday said it has approved the state-run Bank of Taiwan (台灣銀行) to transfer US$165 million to China for setting up a branch in the city of Guangzhou. The commission also approved Hua Nan Commercial Bank (華南商業銀行) to wire US$83 million to its branch in Shenzhen, China, the commission said in a statement.
Contract chipmaker United Microelectronics Corp (UMC, 聯電) yesterday said it has signed a memorandum of understanding (MOU) with Polar Semiconductor LLC to collaborate on the production of 8-inch wafers in the US. The collaboration aims to strengthen 8-inch wafer manufacturing in the US amid Washington’s efforts to increase onshore manufacturing of semiconductors, contribute to supply chain resilience against shifting geopolitical dynamics, and ensure a secure domestic supply of power semiconductors critical to automotive, electric grids, robotic manufacturing and data centers, the companies said in a joint statement. Under the MOU, Polar and UMC will identify devices for Polar to manufacture at
TARIFF TALKS: The US secretary of commerce is eyeing more than US$300 billion in investments and said Taiwan would train US workers, but Taipei has denied the latter US Secretary of Commerce Howard Lutnick said the US is expecting a large investment pledge from Taiwan in trade talks, while President William Lai (賴清德) listed areas that need improvement in order for projects to be completed. “We’re in the midst of discussions,” Lutnick said on Wednesday. “But the fact is, this administration’s goal is to bring semiconductor manufacturing to America.” Lai on Wednesday said Taiwan is supportive of US President Donald Trump’s goal of reindustrializing the US, including efforts to ramp up semiconductor production. Such a goal would require the US to reduce its reliance on Taiwan as a key source
The demise of the coal industry left the US’ Appalachian region in tatters, with lost jobs, spoiled water and countless kilometers of abandoned underground mines. Now entrepreneurs are eyeing the rural region with ambitious visions to rebuild its economy by converting old mines into solar power systems and data centers that could help fuel the increasing power demands of the artificial intelligence (AI) boom. One such project is underway by a non-profit team calling itself Energy DELTA (Discovery, Education, Learning and Technology Accelerator) Lab, which is looking to develop energy sources on about 26,305 hectares of old coal land in
Netflix on Friday faced fierce criticism over its blockbuster deal to acquire Warner Bros Discovery. The streaming giant is already viewed as a pariah in some Hollywood circles, largely due to its reluctance to release content in theaters and its disruption of traditional industry practices. As Netflix emerged as the likely winning bidder for Warner Bros — the studio behind Casablanca, the Harry Potter movies and Friends — Hollywood’s elite launched an aggressive campaign against the acquisition. Titanic director James Cameron called the buyout a “disaster,” while a group of prominent producers are lobbying US Congress to oppose the deal,
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