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Thursday, August 14, 2014
As a raid was launched on the residences of former MediaTek Inc. (聯發科技) employees for alleged trade secret thefts, a Sinyi Realty (信義房屋) executive was sued for falsely accusing a rival of the same crime.
The U.S. dollar rose against the Taiwan dollar Wednesday, gaining NT$0.005 to close at the day's high of NT$30.065 in a relatively quiet session, dealers said.
Despite an ongoing blame game with CPC Corp. (台灣中油) over responsibility for the gas explosions in Kaohsiung, LCY Chemical Corp. (李長榮化工) staged a technical rebound on Wednesday.
Insurers study possible acquisition of ailing peers
Fubon Financial Holding Co. (富邦金控) and Cathay Financial Holding Co. (國泰金控), two of Taiwan's leading financial institutions, said Wednesday that they will study the feasibility of acquiring two ailing life insurers that were taken over Tuesday by regulators.
Shares in Taiwan moved higher Wednesday on a technical rebound as high-tech blue chips extended gains from a session earlier amid optimism that companies would benefit from peak season effects in the third quarter, dealers said.
Wednesday, August 13, 2014
FSC orders takeover of insurance carriers
Financial Supervisory Commission (FSC) Chairman Tseng Ming-chung (曾銘宗) yesterday announced that the commission has ordered the Taiwan Insurance Guaranty Fund (保險安定基金) to take over two troubled insurance carriers, namely Global Life Insurance Co. (國寶人壽) and Singfor Life Insurance Co. (幸福人壽).
All Nippon Airways (ANA) will replace Japan Airlines (JAL) as the company charged with maintaining two government aircraft, it was announced Tuesday, following yet another battle between the domestic rivals.
Major companies in Taiwan, both locally based and multinational corporations, will increasingly use offshore renminbi (RMB) for payments, according to data compiled and analyzed by Bank of America (BofA) Merrill Lynch.
Shares in Taiwan closed slightly lower on thin turnover Tuesday as investors lacked confidence in the market's outlook after heavy losses seen a week earlier, dealers said.
The U.S. dollar rose against the New Taiwan dollar Tuesday, gaining NT$0.008 to close at the day's high of NT$30.060 after the greenback recouped earlier losses in a quiet session, dealers said.
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