Former US vice president Dan Quayle is visiting Taiwan as a consultant to Cerberus Capital Management, an investment firm interested in setting up an asset management company locally.
Quayle met Minister of Finance Yen Ching-chang (
"Because Quayle is currently involved ... in an asset management corporation, he took the opportunity to understand regulations [regarding such companies] in our financial institutions merger law," Yen said shortly after an hour-long closed-door meeting.
PHOTO: GEORGE TSORNG, TAIPEI TIMES
According to Yen, Bruno had expressed interest in setting up an asset management company in Taiwan sometime in the near future.
The government is wooing international investment banks to set up asset management companies in joint venture with domestic firms to help clean up the nation's higher number of non-performing loans.
The Financial Institutions Merger Law, which was passed last Friday, is expected to aid the financial sector's restructuring.
Leading banks are seen as interested in coming to Taiwan to set up asset management corporations.
Quayle, however, declined to comment on the exact nature of his visit. The main purpose of this visit, he said, was to "see some friends in Taiwan and to have some good conversations with the president this afternoon."
Quayle met with President Chen Shui-bian (
He also met with the leaders of Shinkong Group yesterday and is expected to meet with the representatives of the Koo's Group and KMT chairman Lien Chan (
Stanley Kao (
Jackson is director of Asian Studies at Paul H. Nitze School of Advanced International Studies at John Hopkins University.
While Quayle is not expected to take up a government post, his influence may grow if George W. Bush wins the final vote tally in Florida. Quayle, 53, served as US vice president under former president George Bush from 1989 to 1992. The Bush-Quayle team lost their re-election bid in 1992 to the current Clinton-Gore administration.
Meanwhile, Quayle declined to make any specific comments on the US election. "I am not here talk about the support of recount, but to learn more about Taiwan," he said.
"I am delighted to be back here by my fourth visit of Taiwan, obviously at a rather historic time when the American presidency was still somewhat in limbo."
Quayle, however, said there is "no crisis" in the system. "We have a president, Bill Clinton, and we'll get on with the nation's business in due course."
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
TEMPORARY TRUCE: China has made concessions to ease rare earth trade controls, among others, while Washington holds fire on a 100% tariff on all Chinese goods China is effectively suspending implementation of additional export controls on rare earth metals and terminating investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House on Saturday issued a fact sheet outlining some details of the trade pact agreed to earlier in the week by US President Donald Trump and Chinese President Xi Jinping (習近平) that aimed to ease tensions between the world’s two largest economies. Under the deal, China is to issue general licenses valid for exports of rare earths, gallium, germanium, antimony and graphite “for the benefit of US end users and their suppliers
Dutch chipmaker Nexperia BV’s China unit yesterday said that it had established sufficient inventories of finished goods and works-in-progress, and that its supply chain remained secure and stable after its parent halted wafer supplies. The Dutch company suspended supplies of wafers to its Chinese assembly plant a week ago, calling it “a direct consequence of the local management’s recent failure to comply with the agreed contractual payment terms,” Reuters reported on Friday last week. Its China unit called Nexperia’s suspension “unilateral” and “extremely irresponsible,” adding that the Dutch parent’s claim about contractual payment was “misleading and highly deceptive,” according to a statement
The Chinese government has issued guidance requiring new data center projects that have received any state funds to only use domestically made artificial intelligence (AI) chips, two sources familiar with the matter told Reuters. In recent weeks, Chinese regulatory authorities have ordered such data centers that are less than 30 percent complete to remove all installed foreign chips, or cancel plans to purchase them, while projects in a more advanced stage would be decided on a case-by-case basis, the sources said. The move could represent one of China’s most aggressive steps yet to eliminate foreign technology from its critical infrastructure amid a
RSS