TRADE
Turkey can be springboard
Taiwan plans to tap Turkey as a gateway to increased trade with the Middle East, the Taiwan External Trade Development Council (TAITRA) said yesterday, adding that it will hold a seminar in Taipei on Thursday to discuss the potential for business opportunities in Turkey. TAITRA said in a statement that Turkey could serve as the best springboard for Taiwanese companies to enter markets in the Middle East, Central Asia and North Africa. Iraq, which is forecast to register 9 percent economic growth for this year, is a good example of growth in the Middle East, TAITRA said, adding that Iraq plans to invest US$186 billion this year in major infrastructure such as electricity, housing and roads.
BANKING
Mega Bank eyes Myanmar
Mega International Commercial Bank (兆豐國際商銀) has secured approval from the Financial Supervisory Commission to open a representative office in Yangon, Myanmar, according to a statement issued by the commission on Friday. Mega Bank is still awaiting approval from Myanmar’s financial authorities to set up the office, it said. So far, First Commercial Bank (第一銀行) and E.Sun Commercial Bank (玉山銀行) have opened representative offices in Yangon, while Cathay United Bank (國泰世華銀行) obtained the green light earlier this month to set up an office in the city, but it is waiting for approval from Myanmar’s authorities.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
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