STOCK MARKET
TWSE approves chairman
The the Taiwan Stock Exchange’s (TWSE) board of directors on Friday approved the appointment of former minister without portfolio Hsu Chang-yao (許璋瑤) as its chairman. The 66-year-old Hsu from 2004 to 2008 served as head of the Directorate-General of Budget, Accounting and Statistics, and was named minister without portfolio in charge of accounting, statistics and financial affairs in May last year. The government had been looking for a new chairman for the exchange since former chairman Shih Jun-ji (施俊吉) became vice premier in September.
ENERGY
New CPC chair appointed
The Ministry of Economic Affairs on Friday appointed Southern Taiwan University of Science and Technology principal Tai Chein (戴謙) to lead CPC Corp, Taiwan (CPC, 台灣中油). The state-run oil refiner is scheduled to convene a board meeting today to officially elect Tai as chairman, the ministry said. Tai was formerly vice minister of the National Science Council before he became principal of the university in August 2007. The ministry said Tai’s appointment reflects his expertise in science and his management capabilities.
AVIATION
CAL partners with Airbus
Airbus SE has chosen China Airlines Ltd (CAL, 中華航空) to become one of its maintenance, repair and overhaul suppliers in Asia, a press release said on Thursday. CAL senior vice president Houng Wang (王宏) said the company will also provide aircraft conversion services for the European firm. After opening a new hangar next year, Wang said the company is confident that its growing capabilities will offer comprehensive solutions to support Airbus aircraft in Taiwan.
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
NO SHORTCUTS: Asked about Elon Musk’s Terafab initiative, TSMC CEO C.C. Wei said it takes two to three years to build a fab and another one to two to ramp it up Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday raised its revenue growth forecast for this year to above 30 percent, up from the 25 percent it estimated three months earlier, citing extremely robust artificial intelligence (AI)-related chip demand. “Our customers and customers’ customers, who are mainly cloud service providers, continue to send us very positive signals and outlook,” TSMC chairman and CEO C.C. Wei (魏哲家) said at an earnings conference. The company also hiked its capital expenditure for this year toward the higher end of its forecast, or US$56 billion, as it aims to step up advanced chip capacity expansions, such as
The founder of Chinese property giant Evergrande Group (恆大集團) has pleaded guilty to charges of fraud and bribery, a court said yesterday, the latest blow for what was once the country’s leading developer. Evergrande’s rise was propelled by decades of rapid urbanization and rising living standards, but in 2020, its access to credit dramatically narrowed when the government introduced curbs on excessive borrowing and speculation. The company defaulted in 2021 after struggling to repay creditors. Founder Xu Jiayin (許家印), 67, known as Hui Ka Yan in Cantonese, was reportedly held by police in 2023, with Evergrande saying he had been subjected to
Taiwan is attracting a growing number of foreign jobseekers as companies increasingly recruit overseas talent to ease labor shortages and expand global reach, recruitment platform 104 Job Bank (104人力銀行) said yesterday. More than 40,000 foreign nationals searched for jobs in Taiwan through the platform last year, a 28 percent increase from a year earlier, the company said. Malaysians accounted for the largest share of overseas jobseekers at 12.2 percent, followed by Indonesians at 11.9 percent and Vietnamese at 10.8 percent. Indonesian applicants surged more than 50 percent year-on-year, while Vietnamese jobseekers rose by more than 30 percent. Applicants from the
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