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."
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