The Ministry of Finance announced yesterday the appointment of Financial Supervisory Commission Vice Chairwoman Susan Chang (張秀蓮) as chairwoman of the state-run Taiwan Financial Holding Co (臺灣金控) and Bank of Taiwan (臺灣銀行).
With a master’s degree in economics, Chang, 60, will replace Tsai Jer-shyong (蔡哲雄) as head of the two 100 percent government-owned financial institutions, starting on Monday, the ministry said.
The government launched Taiwan Financial Holding on Jan. 2 after combining the Bank of Taiwan, the Land Bank of Taiwan (士地銀行), the Export-Import Bank of the Republic of China (中國輸出入銀行), the BankTaiwan Life Insurance Co (臺銀人壽保險) and a Bank of Taiwan brokerage unit to create the nation’s largest financial service provider by assets.
Last month, the government said it would maintain the independence of the Export-Import Bank and prevent it joining the holding company. Taiwan Financial is Asia’s 18th largest bank and the 91st biggest in the world, ministry figures showed.
The ministry said yesterday that Peter Lo (羅澤成), the Bank of Taiwan’s incumbent president, would retain his post and double as acting president of Taiwan Financial. Lo, 61, has a master’s degree in economics from Chinese Culture University. His appointment will also take effect on Monday, the ministry said.
Land Bank of Taiwan (士地銀行) chairman Wu Fan-chi (吳繁治) will leave his post as acting president at Taiwan Financial, the ministry said.
The ministry has approved the appointment of a central bank official to head the government-owned Central Deposit Insurance Corp (CDIC, 中央存保).
Fred Chen (陳上程), director general of the central bank’s department of financial inspection, has been appointed CDIC chairman, the ministry said.
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
RSS