The TAIEX yesterday rallied 1.68 percent to close at 22,042.69, boosted by the US Federal Reserve’s cuts to its key interest rates for the first time in four years, dealers said.Turnover totaled NT$327.71 billion (US$10.26 billion). Amid hopes of increasing liquidity, investors in Taiwan rushed to p
The Central Bank of the Republic of China (Taiwan) announced on Thursday that it has upgraded its forecast of Taiwan’s gross domestic product (GDP) growth for 2024 to 3.82 percent, with the export- oriented economy expected to benefit from robust global demand for emerging technologies.The upgrade w
One of the most consequential US Federal Reserve meetings in recent history has put investors’ focus squarely on one question: Whether the central bank has kicked off its rate-cutting cycle in time to keep the economy from slowing too rapidly.The Fed delivered a 50 basis point rate cut on Wednesday
The Bank of England yesterday kept its main interest rate unchanged at 5 percent despite a big cut from the US Federal Reserve, its first since the onset of the COVID-19 pandemic more than four years ago.The decision was widely expected amid ongoing concerns about inflation within the bank’s monetar
FALLING DEMAND: The German automaker’s retreat from its biggest market is being driven by a consumer slump and a rapid shift toward smart electric vehicles
Volkswagen AG (VW) and its oldest Chinese partner plan to shutter one plant in China and possibly more in response to slowing demand for combustion-engine cars, in a further pullback after the venture’s first factory ceased output.The company’s four-decade-old business with SAIC Motor Corp (上海汽車集團)
Apple Inc has been warned by the EU to open up its highly guarded iPhone and iPad operating systems to rival technologies, or eventually risk significant fines under its flagship digital antitrust rules.EU watchdogs announced under the bloc’s Digital Markets Act (DMA) that Apple must step into line
OVERSUPPLY: With an excess of cheaper Chinese steel in regional markets, the prices of hot-rolled products in Southeast Asia plunged US$35 per tonne last month
China Steel Corp (CSC, 中鋼), the nation’s largest steelmaker, yesterday slashed steel quotation prices for domestic deliveries next month and next quarter as already sluggish demand worsened.The Kaohsiung-based steelmaker is to cut prices next month by NT$800 to NT$1,200 per tonne, compared with cuts
START-UP ECOSYSTEMS: The NDC has launched a ‘Bridge’ program to assist Taiwanese start-ups, and an innovation hub in Tokyo is the first step of that program
Taiwan hopes for increased cooperation with Japan in multiple areas, including talent cultivation and funding for innovation, National Development Council (NDC) Minister Paul Liu (劉鏡清) said on Tuesday, calling on Japanese firms to invest in Taiwan.At a joint news conference held by the Japan Nationa
Asustek Computer Inc (華碩電腦) yesterday said it has received orders for its new artificial intelligence (AI) servers powered by Nvidia Corp’s HGX H200 chips, with the first shipments scheduled for next month, fueling already strong server revenue growth.That would add to the already strong revenue gro
Google yesterday won a court challenge against a 1.49 billion euro (US$1.66 billion) EU antitrust fine imposed five years ago that targeted its online advertising business.The EU’s General Court said it was throwing out the 2019 penalty imposed by the European Commission, which is the 27-nation bloc
Indonesia’s central bank yesterday unexpectedly cut key interest rates for the first time in more than three years as the rupiah strengthens and ahead of an expected US Federal Reserve rate reduction later in the day.Bank Indonesia lowered the seven-day reverse repurchase rate by 25 basis points to
China’s Yangtze Memory Technologies Co (長江存儲) has made progress in replacing foreign chipmaking technology with homegrown alternatives and its latest storage products now rival global market leaders, according to new research from TechInsights Inc.The memory maker, one of a number of semiconductor c
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday.
A TechShare Inc employee maneuvers the Unitree G1 humanoid biped robot at Japan Robot Week, a robot technology exhibition at Tokyo Big Sight in Japan yesterday.
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion
Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker.Intel an
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions
Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse.The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, mov
Some Shin Kong Financial Holding Co (新光金控) shareholders appear to be pressing ahead with efforts to veto a merger with Taishin Financial Holding Co (台新金控) at a shareholders’ meeting next month, even after the Financial Supervisory Commission (FSC) on Monday rejected CTBC Financial Holding Co’s (中信金控
Outbound investments approved by the Department of Investment Review, excluding those to China, soared 201 percent year-on-year to US$33.67 billion in the first eight months of this year, as companies push forward global supply chain realignment, the Ministry of Economic Affairs said on Monday.The i
Singapore’s electronics shipments grew the most since 2010, fueled by overseas sales of ICs and disk media products, as a global technology boom is proving a boon to the city-state.Electronics exports rose 35.1 percent last month from a year earlier, following a revised increase of 16.8 percent the
Shares in Chinese electronic appliance maker Midea Group Co (美的集團) yesterday closed nearly eight percent higher on its Hong Kong debut, having raised about US$4 billion in the territory’s biggest initial public offering (IPO) in more than three years.The firm closed at HK$59.1 following early exchan