The nation’s two oil refiners said yesterday they would raise domestic fuel prices by NT$0.3 per liter today to reflect rising crude oil prices caused by increased geopolitical tensions in the Middle East.
CPC Corp, Taiwan (CPC, 台灣中油) said its average crude oil costs increased by US$3.11 a barrel to US$120.53 last week from the previous week — the highest costs in the past nine months.
The New Taiwan dollar rose against the US dollar by NT$0.001 last week, which helped to partially offset the price rises in imported crude, the state-run company said in a statement.
Formosa Petrochemical Corp (台塑石化) said the rising prices reflected market concerns about rising tensions between Iran and the West.
The improving outlook for the eurozone debt crisis on a Greece rescue deal was also adding to price pressures in global crude oil last week, Formosa said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
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A former ASML Holding NV employee is facing a lawsuit in the Netherlands over suspected theft of trade secrets, Dutch public broadcaster NOS said, in the latest breach of the maker of advanced chip-manufacturing equipment. The 43-year-old Russian engineer, who is suspected of stealing documents such as microchip manuals from ASML, is expected to appear at a court in Rotterdam today, NOS reported on Friday. He is accused of multiple violations of the sanctions legislation and has been given a 20-year entry ban by the Dutch government, the report said. The Dutch company makes machines needed to produce high-end chips that power
As South Korea descends into political chaos, its equity market risks falling further behind major tech rival Taiwan, which is basking in the glory of a global artificial intelligence (AI) boom. A near-30 percent surge in Taiwan’s stock benchmark this year, set to be the best since 2009, has already helped spur a historic divergence between Asia’s two tech-dominated markets. The nation’s market capitalization now exceeds South Korea’s by about US$950 billion as the world’s AI frontrunners from Nvidia Corp and Microsoft Corp to OpenAI all increasingly turn to Taiwanese firms for supply. Looking ahead to next year, while both export-oriented economies
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