The New Taiwan fell sharply against the US dollar yesterday to close at its lowest level since May 22 amid a massive outflow of funds from the country because of investors panicking over global equity markets.The NT dollar ended at NT$31.580 against the US dollar, slightly lower than a previous reco
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is now ranked ninth among the world’s 100 most valuable companies after its market capitalization more than doubled over the past year, PricewaterhouseCoopers (PwC) Taiwan said in a report last month.TSMC’s market capitalization surged 101 percent ye
Airlines expect to carry more passengers this year, but earn only half as much profit as last year, as high fuel prices do not appear to be fully deterring travel, according to projections published on Sunday.The International Air Transport Association (IATA) predicted that its 370 member airlines,
BETTER FOUNDATIONS: People failed to recognize inequalities arising from globalization and the IMF head wants to make sure it does not happen with AI
After facing crisis upon crisis in the past few years, the world needs to build foundations that can withstand shocks that have become more frequent, IMF managing director Kristalina Georgieva said yesterday.“I am worried that we are not completely internalizing yet that this is how the world is goi
Global notebook computer shipments are expected to decline about 13 percent year-on-year this year, as rising prices and shortages of key components, including memory chips and central processing units, continue to weigh on consumer purchases in the second half of the year, TrendForce Corp (集邦科技) sa
Tourists visit the Royal Palace in Phnom Penh, Cambodia, yesterday. More than 1.3 million international tourists visited Cambodia in the first four months of this year, representing a 45.6 percent decline compared with the same period last year, according to statistics released by the Cambodian Mini
On June 6, Citibank Taiwan Ltd marked its 21st Citi Global Community Day, bringing together employees and their families to support conservation efforts along the Xindian River in Greater Taipei. Volunteers took part in hands-on initiatives to enhance river biodiversity, including creating safe upst
FOREIGN INVESTING: Investors from around the world have set records over the past several months as money pours into explosively expanding Taiwanese holdings
Foreign exchange reserves at the end of last month moved higher for the second consecutive month, while foreign investors’ holdings in Taiwan-listed stocks, bonds and New Taiwan dollar-denominated deposits neared US$1.9 trillion, the central bank reported on Friday.The nation’s foreign exchange rese
CPC Corp, Taiwan (CPC, 台灣中油) announced on Saturday that it would leave domestic gasoline and diesel prices unchanged this week to ease the impact of high international crude oil prices amid tensions in the Middle East.Formosa Petrochemical Corp (台塑石化) yesterday said it would also maintain fuel price
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation.“The advantage that Taiwan has is a growth story l
Alphabet Inc’s Google has agreed to pay Elon Musk’s Space Exploration Technologies Corp (SpaceX) US$920 million a month for computing power as part of a cloud services deal that runs through mid-2029, its second such agreement with an artificial intelligence (AI) competitor in a matter of weeks.Goog
A vendor shrinkwraps fruit before displaying it for sale before World Food Safety Day in Sana’a, Yemen, on Saturday.
The cars navigating Brazil’s crowded streets currently powered by sugarcane or corn-based ethanol could before long run on a cornucopia of fuels made from grains, tubers and other exotic feedstocks.A new wave of biofuel innovation is sweeping the nation, with developers in unexpected corners of the
Investors cheered when Venezuela opened its vast mineral reserves to private capital in April, but gang control over many mines could prove a powerful obstacle.The South American country, which is undergoing a profound transformation following the US overthrow of then-Venezuelan president Nicolas Ma
South Africa cannot create nearly enough green jobs to make up for the many thousands it would lose as it closes polluting coal mines and power stations, experts said, adding to the country’s burden of massive and rising unemployment.Nearly one-in-three South Africans are unemployed, latest governme
FUEL-DRIVEN: Last month’s 2.2% growth breached the bank’s 2% alert level, with communications and transportation prices rising 4% due to higher crude oil costs
Consumer price index (CPI) growth last month topped a 2 percent alert level set by the central bank largely due to a spike in crude oil prices amid military conflicts in the Middle East, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.Data compiled by the DGBAS sh
BRIGHT PROSPECTS: The company expects second-quarter performance to beat its forecast, but global political and economic factors bear watching
Hon Hai Precision Industry Co (鴻海精密) yesterday reported a 39.57 percent annual increase in revenue last month to a record NT$859.4 billion (US$27.3 billion), driven by strong growth in its cloud and networking business.On a sequential basis, revenue grew 3.28 percent from NT$832.1 billion in April,
Nvidia Corp CEO Jensen Huang (黃仁勳) yesterday said that his company has arranged to boost capacity in the second half of this year to next year to meet robust demand.Before boarding his private jet at the Songshan Airport in Taipei to wrap up a 14-day trip to Taiwan, Huang told reporters that Nvidia
Nvidia CEO Jensen Huang (黃仁勳) yesterday said that robotics would be South Korea’s next major sector, as he arrived for his second visit in seven months, underscoring deepening ties with local firms in not only chips, but also robotics and artificial intelligence (AI) factories.“Because [South] Korea
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