Domestic banks’ exposure to China rose to a record-high level again at the end of last quarter, making China Taiwan’s second-largest debtor, the central bank said in a report released on Saturday.
That was despite a rarely seen decline in the nation’s total international claims. The figure decreased by 2.31 percent, or US$5.36 billion, to US$226.39 billion as of the end of June, from US$231.75 billion three months ago, according to the central bank’s tally.
It was the first time Taiwan’s international claims have shown a sequential decline since the global financial crisis in 2008.
International claims comprise all claims on non-residents in all currency units and foreign currency claims on residents.
“Taiwanese redeemed more overseas funds in the second quarter, mainly due to concerns over the US Fed’s quantitative tapering,” Su Dao-min (蘇導民), deputy head of the central bank’s banking examination department, said at a press conference.
Based on the central bank’s statistics, Taiwanese redeemed at least US$3.6 billion in overseas funds during the April-to-June period.
However, claims on China totaled US$30.85 billion at the end of June, up US$398 million from the level recorded at the end of March. The nation’s claims on China remained the second-largest of all countries, behind claims on Luxembourg, the bank said in its quarterly report.
Domestic banks’ exposure to China may rise further amid increased financial exchanges between the two sides, the central bank said.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
RSS