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 (
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
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China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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