The Ministry of Finance yesterday formally announced that Michael Chang (
First Financial, 35 percent controlled by the government, is scheduled to hold a board meeting on Monday to select the new chairman, said Liu Teng-cheng (
Liu said Chang will also take over Vice Minister of Finance Gordon Chen's (陳樹) seat on the company's board. Chen has served as First Financial's acting chairman since an extraordinary shareholders' meeting last month.
Taiwan Business Bank's chairmanship will be temporarily filled by the bank's president, Peter Lo (
As the two state banks Chang formally chaired -- Bank of Overseas Chinese (
The government downplayed the speculation.
"We respect Chang's decision-making abilities. Whether he continues with the restructuring task launched by his predecessors is up to him," the Finance Ministry's Liu said.
Meanwhile, Liu said that the legislature's decision on Thursday night to slash the NT$40.2 billion (US$1.26 billion) budget earmarked for the release of government shareholdings in five state banks would not affect the second stage of financial reforms.
However, the budget cut will delay the privatization of the Bank of Taiwan (台灣銀行) and Lank Bank of Taiwan (土地銀行), he noted.
The five state banks to be privatized include Taiwan Cooperative Bank (
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”
TRANSFORMATION: Taiwan is now home to the largest Google hardware research and development center outside of the US, thanks to the nation’s economic policies President Tsai Ing-wen (蔡英文) yesterday attended an event marking the opening of Google’s second hardware research and development (R&D) office in Taiwan, which was held at New Taipei City’s Banciao District (板橋). This signals Taiwan’s transformation into the world’s largest Google hardware research and development center outside of the US, validating the nation’s economic policy in the past eight years, she said. The “five plus two” innovative industries policy, “six core strategic industries” initiative and infrastructure projects have grown the national industry and established resilient supply chains that withstood the COVID-19 pandemic, Tsai said. Taiwan has improved investment conditions of the domestic economy
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day