Incoming Minister of Finance Joseph Lyu (
"I'll hold discussions with the ministry's staff [today] to gain a clear understanding [about the ministry's tasks] before advancing my opinions," said Lyu, who served as chairman of the Bank of Taiwan (台灣銀行) until yesterday.
Lyu will assume office today, while Lin will retire. Lin has been invited to serve as an unpaid National Policy Adviser to President Chen Shui-bian (
After evading reporters' questions several times at Lin's farewell party yesterday, the tight-lipped Lyu merely said, "I'll do my best" at his own farewell event later in the day.
During Lyu's 575-day chairmanship of the nation's largest lender, the 50-year-old banker was known for strong execution skills and an active management style.
As of Monday, the bank had recorded NT$1.36 trillion (US$42.5 billion) in total lending. The previous high was in 2000, when the century-old bank's loans totaled NT$1.35 trillion.
Its broad-based non-performing loan (NPL) ratio has dropped to under 1.5 percent, and it reported pretax profits of NT$15.2 billion last year, surpassing the statutory budget, Lyu said.
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
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