The labor union for the Bank of Overseas Chinese (
"No group agreement, no merger deal," union acting chairman Chen Huei-chih (
"If the bank refuses to sign the agreement by Nov. 30, we will call a strike on Dec. 29," Chen said.
The union made the decision in a meeting on Saturday. Chen said some 60 percent of the union's 1,450 members agreed with the signing of the job protection pact and supported the strike plan.
The union will hold a press conference today and contact the Financial Supervisory Commission tomorrow. It plans to hold a protest outside the bank's headquarters in Taipei next Wednesday.
Bank of Overseas Chinese president Shih Chiao-hsin (施教興) said the bank would continue negotiations with employees.
The planned strike could be the second in the nation's financial sector after strikes by workers at Taiwan Business Bank's (
The financial regulator said it would demand that the Bank of Overseas Chinese comply with labor regulations.
"We will try our best to coordinate the talks between the two camps before the authority governing labor rights issues steps in," commission spokesperson Susan Chang (
Rumors have filled the market for months that the Bank of Overseas Chinese was in investment or buyout talks with Citibank.
The local lender admitted it was talking to a foreign investor but did not offer further details.
As a result of the extensive coverage of the rumored deal, the commission will keep a close eye on any possible share price manipulation that would violate the Securities and Exchange Law (證券交易法), Chang said.
If the merger occurred, the commission would attempt to trace abnormal trading records and hand over illegal trading cases to prosecutors for further investigation, she said.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
‘MAKE OR BREAK’: Nvidia shares remain down more than 9 percent, but investors are hoping CEO Jensen Huang’s speech can stave off fears that the sales boom is peaking Shares in Nvidia Corp’s Taiwanese suppliers mostly closed higher yesterday on hopes that the US artificial intelligence (AI) chip designer would showcase next-generation technologies at its annual AI conference slated to open later in the day. The GPU Technology Conference (GTC) in California is to feature developers, engineers, researchers, inventors and information technology professionals, and would focus on AI, computer graphics, data science, machine learning and autonomous machines. The event comes at a make-or-break moment for the firm, as it heads into the next few quarters, with Nvidia CEO Jensen Huang’s (黃仁勳) keynote speech today seen as having the ability to
RSS