Vice Minister of Economic Affairs Yiin Chii-ming, at the head of a delegation made up of representatives of more than 30 firms, was to depart yesterday for Australia and New Zealand to explore trade and investment opportunities. \nThe trade promotion mission is the first organized by the Ministry of Economic Affairs, in cooperation with the Importers and Exporters Association of Taipei, since the containment of SARS late last month. \nThe business representatives in the delegation come from the domestic consumer electronics, hardware, plastics, automobile accessories, stationery, sporting goods, computer and telecommunications sectors. \nThanks to the containment of SARS and the conclusion of the US-led war in Iraq in the first half of this year, now is the right time for Taiwan companies to seek two-way trade and business opportunities with Australia and New Zealand as August is the high season for foreign traders in the two countries to place orders, business sources said. \nThe two economies, both rich in agricultural and mineral resour-ces, are complementary with Taiwan's manufacturing-oriented economy, the sources said. They added that Australia is also strong in the telecommunications, medical, biotechnology and environment-related industries and that there is a robust demand there for consumer and durable products and electrical engineering parts and components. \nIn an effort to broaden the possibility of bilateral cooperation, Yiin also invited over 20 Australian electrical-engineering and biotechnology and related government officials to take part in four professional round-table meetings in Sydney and Melbourne with their counterparts from Taiwan while he is in Australia. \nThe vice minister will also take the opportunity to invite them to participate in the 2003 Taiwan business Alliance conference slated for October in Taipei.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion
MediaTek Inc (聯發科) has hired a former US Department of Commerce official to help it navigate worsening US-China tensions that have already ensnared its customer Huawei Technologies Co (華為). Patrick Wilson, who most recently served as director of the department’s Office of Business Liaison, has been appointed vice president of government affairs at MediaTek USA to lead its public policy initiatives, the chip designer said in a draft press statement seen by Bloomberg News. Wilson previously worked at the Semiconductor Industry Association, where he led the trade group’s dealings with the US federal government. Technology companies with ties to or operations in China