Minister of Finance Lin Chuan (
Speaking to nearly 200 executives of British investment and financial agencies at the seminar, Lin urged them to seize the business and cooperation opportunities between the two countries.
Lin said that the Ministry of Finance is slated to release late next year its holdings of government shares of all Taiwan's public banks, except for the Bank of Taiwan (台灣銀行), to allow for a greater degree of foreign ownership in domestic banks in line with a government privatization project.
Stressing that Taiwan is poised to extend foreign ownership in its banking sector to sharpen the domestic industry's competitive edge as part of its bid to build the nation into a regional financial hub, Lin said that relevant legislation has been underway to encourage mergers and consolidation among banks.
According to the finance minister, there are currently more than 50 banks in Taiwan, including 12 government-controlled ones that account for more than 60 percent of the domestic banking industry's assets.
However, he pointed out that profits posted by the public banks lag far behind those of private banks and that this is the reason behind the government's decision to launch the privatization plan to increase their profitability.
Council for Economic Planning and Development Vice Chairman Hsieh Fa-ta (
When Lika Megreladze was a child, life in her native western Georgian region of Guria revolved around tea. Her mother worked for decades as a scientist at the Soviet Union’s Institute of Tea and Subtropical Crops in the village of Anaseuli, Georgia, perfecting cultivation methods for a Georgian tea industry that supplied the bulk of the vast communist state’s brews. “When I was a child, this was only my mum’s workplace. Only later I realized that it was something big,” she said. Now, the institute lies abandoned. Yellowed papers are strewn around its decaying corridors, and a statue of Soviet founder Vladimir Lenin
UNIFYING OPPOSITION: Numerous companies have registered complaints over the potential levies, bringing together rival automakers in voicing their reservations US President Donald Trump is readying plans for industry-specific tariffs to kick in alongside his country-by-country duties in two weeks, ramping up his push to reshape the US’ standing in the global trading system by penalizing purchases from abroad. Administration officials could release details of Trump’s planned 50 percent duty on copper in the days before they are set to take effect on Friday next week, a person familiar with the matter said. That is the same date Trump’s “reciprocal” levies on products from more than 100 nations are slated to begin. Trump on Tuesday said that he is likely to impose tariffs
HELPING HAND: Approving the sale of H20s could give China the edge it needs to capture market share and become the global standard, a US representative said The US President Donald Trump administration’s decision allowing Nvidia Corp to resume shipments of its H20 artificial intelligence (AI) chips to China risks bolstering Beijing’s military capabilities and expanding its capacity to compete with the US, the head of the US House Select Committee on Strategic Competition Between the United States and the Chinese Communist Party said. “The H20, which is a cost-effective and powerful AI inference chip, far surpasses China’s indigenous capability and would therefore provide a substantial increase to China’s AI development,” committee chairman John Moolenaar, a Michigan Republican, said on Friday in a letter to US Secretary of
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) market value closed above US$1 trillion for the first time in Taipei last week, with a raised sales forecast driven by robust artificial intelligence (AI) demand. TSMC saw its Taiwanese shares climb to a record high on Friday, a near 50 percent rise from an April low. That has made it the first Asian stock worth more than US$1 trillion, since PetroChina Co (中國石油天然氣) briefly reached the milestone in 2007. As investors turned calm after their aggressive buying on Friday, amid optimism over the chipmaker’s business outlook, TSMC lost 0.43 percent to close at NT$1,150
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