Lawmakers yesterday expressed concern about the recent string of foreign financial institutions announcing plans to take over local banks, saying that it was tantamount to a modern version of the invasion mounted by "allied forces of the eight powers."
Standard Chartered Bank has acquired more than 51 percent of the shares of Hsinchu International Bank (新竹國際商銀), while Citibank is rumored to be in buyout talks with Bank of Overseas Chinese (華僑銀行) and HSBC is reportedly interested in the Far Eastern International Bank (遠東商銀).
During the legislature's Finance Committee yesterday morning, Democratic Progressive Party Legislator Gao Jyh-peng (
Minister of Finance Ho Chih-chin (
Shih Jun-ji (
"The fact that foreign players are willing to invest in Taiwanese banks demonstrates their confidence in Taiwan's financial development. They're welcome here," Shih said.
Lin Wen-lang (林文郎) echoed Gao's comments, saying that foreign capital accounts for more than 30 percent of large-scale financial holding companies.
Chinatrust Financial Holding Co (
Lin urged the government to keep a close eye on any future developments.
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
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
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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