Taiwan, Nicaragua talk FTA
A second round of FTA bilateral consultations between Taiwan and Nicaragua has just been completed in San Francisco, marking a step forward in efforts for the two countries to eventually sign an FTA, the Bureau of Foreign Trade (BOFT) reported yesterday.
Officials headed by ROC Economic Affairs Vice Minister Steve Chen (陳瑞隆) on the Taiwan side and Alejandro Arguello, Nicara-gua's vice-minister of development, industry and commerce on the other, reached consensus upon the conclusion of the consultation on several issues, including market access, trade facilitation and cooperation for the attainment of a third round of such talks.
In detail, the two sides reached consensus on areas including animal quarantine, technical trade barriers, fair competition, labor, intellectual property rights, telephone and other telecommunications, investment and trade regulations as well as procedures.
The two sides agreed that the third round of talks will be held between Jan. 31 and Feb. 4 next year, in the hope that the two countries can complete their bilateral talks and ink a formal FTA in the first half of next year.
Apple to buy more computers
Apple Computer Inc will probably raise purchases of computers and other parts in Taiwan by about a quarter to US$5 billion next year, a Chinese-language newspaper reported, without saying where it obtained the information.
Apple may increase orders on optimism about sales of iMac personal computers and iPod digital music players, the report said.
Apple also hired more people at its Asia procurement office in Taiwan, where the company has about 100 employees, compared with about 20 when it was set up three years ago, the paper said.
China Steel may up bonus
China Steel Corp (中鋼) may increase this year's annual bonus to employees on expectations of higher profits, a Chinese-language newspaper reported, without saying where it obtained the information.
The bonus would increase their annual pay to the equivalent of 26 months' salary from about 22 months last year, the Taipei-based newspaper reported.
China Steel, Taiwan's biggest steelmaker, on Oct. 16 said profits this year will exceed the NT$46.4 billion (US$1.4 billion) forecast made in June because of higher global all-round prices and stron-ger demand.
Formosa ups Vietnam stakes
Formosa Plastics Group (台塑) plans to invest an additional US$268 million on its textile manufacturing and power plant projects in Vietnam, a Chinese-language newspaper reported without saying where it obtained the information.
The additional investment will lift Formosa Plastics' total investment in Vietnam to about US$750 million, the Taipei-based newspaper said.
Formosa Plastics is Taiwan's largest industrial group.
NT dollar rises
The New Taiwan dollar rose against its US counterpart on speculation exporters will buy the local currency after US Treasury Secretary John Snow suggested his government won't act to curb the greenback's decline.
The NT dollar climbed NT$0.13 to close at NT$32.070 on the Taipei foreign exchange market. Turnover was US$754 million.
The local currency this year gained 6 percent against the US dollar.
"The US probably still won't intervene to buy its currency," said William Chou, a currency analyst in Taipei at Hua Nan Commercial Bank (華南銀行). "Exporters may rush to buy NT dollars after the currency rises beyond NT$32."
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Taiwan has enough crude oil reserves for more than 100 days and sufficient natural gas reserves for more than 11 days, both above the regulatory safety requirement, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday, adding that the government would prioritize domestic price stability as conflicts in the Middle East continue. Overall, energy supply for this month is secure, and the government is continuing efforts to ensure sufficient supply for next month, Kung told reporters after meeting with representatives from business groups at the ministry in Taipei. The ministry has been holding daily cross-ministry meetings at the Executive Yuan to ensure
RATIONING: The proposal would give the Trump administration ample leverage to negotiate investments in the US as it decides how many chips to give each country US officials are debating a new regulatory framework for exporting artificial intelligence (AI) chips and are considering requiring foreign nations to invest in US AI data centers or security guarantees as a condition for granting exports of 200,000 chips or more, according to a document seen by Reuters. The rules are not yet final and could change. They would be the first attempt to regulate the flow of AI chips to US allies and partners since US President Donald Trump’s administration said it rescinded its predecessor’s so-called AI diffusion rules. Those rules sought to keep a significant amount of AI
RSS