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."
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”
Garment maker Makalot Industrial Co (聚陽) yesterday reported lower-than-expected fourth-quarter revenue of NT$7.93 billion (US$251.44 million), down 9.48 percent from NT$8.76 billion a year earlier. On a quarterly basis, revenue fell 10.83 percent from NT$8.89 billion, company data showed. The figure was also lower than market expectations of NT$8.05 billion, according to data compiled by Yuanta Securities Investment and Consulting Co (元大投顧), which had projected NT$8.22 billion. Makalot’s revenue this quarter would likely increase by a mid-teens percentage as the industry is entering its high season, Yuanta said. Overall, Makalot’s revenue last year totaled NT$34.43 billion, down 3.08 percent from its record NT$35.52
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