The Taiwan Stock Exchange and Abu Dhabi Securities Market may co-list Islamic funds on their respective stock exchanges as part of a cooperative agreement signed between the two.
The two exchanges signed the agreement to share experience and encourage cross-listings, they said in a statement today. Taiwan also expects a similar tie-up with other Middle East exchanges such as the Dubai International Financial Exchange Ltd, said Wu Rong-i (吳榮義), chairman of the Taiwan Stock Exchange Corp.
"Both sides have agreed to study exchange-traded funds, especially Islamic-related funds," Wu said in an interview today from Dubai. "Taiwan can play gateway to Asia-Pacific and the UAE can play the same role in the Middle East."
The Taiwan Stock Exchange is looking overseas to lure more investment to the bourse ahead of a merger and public share sale.
The exchange expects to list approximately 20 percent of its shares by the first quarter of 2009 after it merges with the island's smaller bourses to create a new entity with total capital of US$1.3 billion, Wu said.
Taiwan's Cabinet proposed a revision to current laws in October that would allow the Taiwan Stock Exchange to merge with the GRETAI stock exchange, Taiwan Futures Exchange, and the Taiwan Depository & Clearing Corp.
The Taiwan Stock Exchange is targeting 40 new net listings next year following the March presidential election, Wu said.
"After the next March election, we will have a more open policy toward China, and how open it is, of course we'll wait and see," he said.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
RSS