ECONOMY
TAITRA plugs Web platform
Local manufacturers and exporters can make use of an e-commerce platform to expand their overseas markets, the Taiwan External Trade Development Council (TAITRA) said yesterday. The platform iDealEZ, which TAITRA launched in January in collaboration with EBay, has helped Taiwanese auto parts makers secure orders worth US$570,000 to date. However, the volume accounts for only a fraction of the annual output of Taiwan’s auto parts industry, which totaled NT$226.3 billion (US$7.56 billion) last year, TAITRA said.
FINANCE
Half of banks meet Basel III
About half of the nation’s banks have met the fully phased-in Basel III tier-1 capital requirement, while the rest are expected to be compliant through future earnings retention, Fitch Ratings said on Thursday. Total capital shortfall is manageable and expected to be funded by issuing Basel III-compliant tier-2 instruments, Fitch said. However, Taiwanese banks’ capitalization remains among the weakest in the region due to thin profits, it added.
PERSONAL WEALTH
Tsai still on top of rich list
Food tycoon Tsai Eng-meng (蔡衍明) remains the richest person in Taiwan, with a net worth of US$10.6 billion, Forbes Asia magazine reported. Tsai’s net worth has grown by US$2.6 billion from a year ago, largely on an increase in the stock price of the Hong Kong-listed Want Want China Holdings Ltd (中國旺旺控股), Forbes 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
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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