Interest rates are nearing a peak and should see only a mild increase in the future, a Union Bank of Taiwan (
"Even if the central bank decides to raise interest rates again [late this month], there's not much room for interest rates to go up any further," said Herman Tu (
Tu said that the banking sector's interest rates for one-year time deposits had risen by 100 basis points to around 2.6 percent in the past year and should see only a moderate rise in the future.
To attract time depositors, Union Bank in mid-January introduced a special rate offer of 3 percent for three-year time deposits of less than NT$1.5 million (US$48,600), Tu said.
This compares with its peers' offers of 2.3 percent to 2.7 percent for three-year time deposits.
Interest payments for the special rate offer, which runs until April 17, will be made on a monthly basis. So far, the bank has absorbed more than NT$2 billion in new three-year time deposits.
Tu also expressed confidence in the bank's loans business, saying it had granted NT$110 billion in mortgages, NT$65 billion in corporate loans and NT$10 billion in car loans.
The bank, which has 79 branches nationwide, expects to add eight branches in Taipei and Taoyuan in the next two years.
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
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
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
RSS