The nation’s credit card issuers are planning to reduce their interest rates for revolving loans by 0.25 percentage points to 2.5 percent after the Lunar New Year holiday, local newspapers reported yesterday.
Officials at the Financial Supervisory Commission’s banking bureau said yesterday that 10 major credit card issuers are scheduled to finalize their rate cuts on Friday at the earliest.
The credit card issuing banks which have mapped out plans to cut their rates are Chinatrust Commercial Bank (中國信託), Taishin International Bank (台新銀行), Union Bank of Taiwan (聯邦銀行), Taipei Fubon Bank (台北富邦銀行), E.SUN Commercial Bank (玉山銀行), Ta Chong Bank (大眾銀行) and Shin Kong Bank (新光銀行), the Chinese-language Economic Daily News said.
The appeal to card issuers came after the central bank cut its benchmark interest rate for the sixth time since September last year, by a total of 2.125 percentage points, but the banks’ highest revolving interest rates on credit and cash cards have remained unchanged at 19 percent and 20 percent respectively.
The Chinese-language Apple Daily, citing Banking Bureau Deputy Director General Hsiao Chang-jui (蕭長瑞), said the rate cuts at some banks are lower because those banks thought they bear more risks on credit card loans than other types of consumer loans, which requires them to charge a much higher revolving rate.
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