TSMC agrees to end dispute
Taiwan Semiconductor Manufacturing Co (台積電, TSMC) said yesterday it had agreed to settle a trade secret dispute with US-based UniRAM Technology Inc, which designs, develops and licenses high performance memory solutions.
“Both sides have agreed to terminate all the litigation process,” a TSMC spokesman said, but declined to disclose any terms about the settlement.
In September last year, a district court in San Francisco ruled in favor of UniRAM, awarding the company US$30.5 million in damages after it sued TSMC for misusing its trade secrets related to embedded memory chip products.
Park revenue grows 42 percent
Some 50 companies located in the Central Taiwan Science Park (中部科學園區) yesterday posted NT$221.8 billion (US$6.86 billion) in accumulated revenues for the first eight months of this year, or 42 percent growth year-on-year.
The park’s administration further expects sales of these companies to meet this year’s goal of NT$360 billion.
The park’s optronics companies had the highest revenues, taking up an 80 percent share of total company revenues, followed by integrated circuit companies at 18 percent and precision machinery companies’ 2 percent, the administration’s statistics showed yesterday.
Police arrest counterfeiters
Taiwanese authorities arrested six people suspected of counterfeiting 100 million yuan (US$14.1 million) as they tried to smuggle the fake cash into China, officials said yesterday.
Soldiers and police tracked the suspects, aged from 32 to 67, for nearly five months before pouncing as they tried to set off on a fishing boat for China, the National Police Agency said in a statement.
ECCT calls for more EU trade
The European Chamber of Commerce Taipei (ECCT) called on the EU yesterday to enhance trade with Taiwan, saying that this would boost not only the EU’s export and production, but also its competitiveness in Asia.
The call came after Copenhagen Economics, a reputable international consultancy commissioned in January by the ECCT, released a report that found economic merits of EU-Taiwan trade enhancement measures (TEMs) worth billions of euro annually for both economies.
ECCT chairman Philippe Pellegrin yesterday said the chamber has called on the governments of both Taiwan and the EU to begin talks on TEMs — similar to free trade agreements.
NT dollar falls in credit crunch
The New Taiwan dollar declined yesterday for a third day as deepening turmoil in global credit markets damped investor demand for emerging-market assets.
The currency extended two weeks of losses after the cost of borrowing US dollars for three months in London rose last week to the highest level since January on speculation the credit crisis would mean more banks will have to be rescued.
Taiwan’s benchmark stock index fell to the lowest level since August 2004 as the global credit crisis worsened in Europe.
“Emerging markets are coming under the most pressure as far as currencies are concerned,” said Dwyfor Evans, a foreign-exchange strategist at State Street Global Markets in Hong Kong. “The problem is now being seen as a global issue rather than a US issue. People are selling regions en masse.”
The NT dollar fell as much as 0.48 percent to NT$32.343 against the US dollar, according to Taipei Forex Inc, on turnover of US$1.101 billion.
STEPPING UP: The firm has also asked employees to work in split shifts from this week and to halt all but essential overseas business travel from next month Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has implemented a remote work policy for employees not on production lines in an attempt to curb the spread of COVID-19, the world’s largest contract chipmaker said yesterday. This is the first time in the Hsinchu-based company’s history that it has launched a large-scale remote work policy, joining global technology companies, such as Apple Inc and Google, that encourage employees to work from home. The chipmaker has also asked employees to work in split shifts from this week, it said. As the number of virus infections continues to climb worldwide, TSMC has urged employees to halt unnecessary
A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside. As COVID-19 grips the world, it might just be the safest place to work right now. The teams belong to ASML Holding NV, which holds a de facto monopoly on the industry of
DBS Bank Ltd yesterday hacked its GDP growth forecast for Taiwan this year to 0.9 percent, down from its estimate of 2.3 percent two months earlier, in light of the COVID-19 pandemic and increasing financial market volatility. The bank’s latest forecast was even lower than London-based IHS Markit Ltd’s estimate of 1 percent, while other research institutes’ projections range from 1.6 percent to 2.6 percent. Taiwan’s economic momentum is being negatively affected by the pandemic, DBS said. The rapid spread of the disease from Asia to Europe and the US has dampened the bank’s previous expectation of a “V-shaped” global rebound in the
Manufacturers are on a mission to produce desperately needed medical ventilators for the COVID-19 pandemic, even if it means converting assembly lines now making auto parts. Along with a shortage of masks and gloves, the spread of COVID-19 to almost every corner of the globe has highlighted a great need for specialized machines that help keep severely afflicted patients alive. “As the global pandemic evolves, there is unprecedented demand for medical equipment, including ventilators,” GE Healthcare chief executive officer Kieran Murphy said. The group has hired more workers and is making ventilators around the clock. Swedish group Getinge AB is also ramping up output