Taiwan’s prominent industry publication, Excellence Magazine, announced the winners of the 2024 Excellence Banking Awards. Citi Taiwan Ltd claimed two major honors in the foreign bank category, winning both the “Best Corporate Bank” and the “Best ESG Award,” demonstrating its market leadership. Citi continues to expand its exceptional financial services to support companies in their sustainability transformation and ESG initiatives.
According to Excellence Magazine’s online survey, Citi has won the “Best Corporate Bank” among the international banks for the second consecutive year and the “Best ESG Award” for the third year in a row. The awards underscore Citi’s support for Taiwanese companies as they navigate international supply chain shifts, leveraging its unmatchable global network with a presence in over 90 markets and sustainable solutions to aid clients in their business growth and achieve their sustainability goals. Since 2020, Citi has raised over US$25 billion for local clients from global capital markets to support their financial needs.
Additionally, Citi Taiwan was awarded the “Best Staff Retention Award” at the inaugural 104 Job Bank Awards, highlighting Citi’s commitment not only to outstanding business performance but also for nurturing and retaining professional talent. Citi strives to create a positive workplace environment while prioritizing the growth and development of employees, thereby enhancing the long-term competitiveness of its workforce.
Photo courtesy of Citi Taiwan Ltd
This year, Citi released the fifth ESG Report, showcasing its long-standing commitment and contributions to ESG initiatives.
“Citi Taiwan has long recognized the importance of sustainability, and we integrate ESG into our business strategy and other sustainability related activities. Our sustainability journey reflects the challenges posed by a transition to net zero, while also recognizing the opportunities. We are proud to have financed more than NT$4 billion (approx. US$125 million) in 2023 through sustainability-linked loans, tailored to help clients on their low-carbon transition journey,” Citibank Taiwan chairman Aftab Ahmed said.
Citi Taiwan head of commercial banking Michelle Yu stated, “Global environmental changes have made supply chain shifts a major trend, with many companies beginning to focus on expansion in Japan, ASEAN, Europe, and the United States. Citi’s robust network provides clients with cross-border payment, financing, and capital solutions to help them expand internationally, optimize operational costs, and ensure adequate liquidity.”
This year, YO-Wash Care Association was selected as the Global Innovation Challenge grant to receive US$500,000 from Citi Foundation to the to support the homeless re-enter the workforce and regain dignity.
Citi has been recognized at the Excellence Banking Awards for nine consecutive years, receiving multiple accolades for the financial services and sustainability efforts. This year marks the second consecutive year that Citi has won both the “Best Corporate Banking” and “Best ESG” awards. These achievements underscore Citi’s commitment to providing comprehensive financial services to the corporate clients, while leveraging its global ESG resources to support clients in their net-zero transitions and create a sustainable future.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
RATIONING: The proposal would give the Trump administration ample leverage to negotiate investments in the US as it decides how many chips to give each country US officials are debating a new regulatory framework for exporting artificial intelligence (AI) chips and are considering requiring foreign nations to invest in US AI data centers or security guarantees as a condition for granting exports of 200,000 chips or more, according to a document seen by Reuters. The rules are not yet final and could change. They would be the first attempt to regulate the flow of AI chips to US allies and partners since US President Donald Trump’s administration said it rescinded its predecessor’s so-called AI diffusion rules. Those rules sought to keep a significant amount of AI
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
A new worry has been rippling across the stock market lately: Entire businesses, not just their employees, might be thrown out of work. While most economists say fears of an artificial intelligence (AI) job apocalypse are overblown, seismic shifts have happened in the past after big tech breakthroughs. The IT revolution of the 1990s led to a surge in productivity that sped up the US economy for several years. It also rendered companies or even industries largely redundant — from travel agents and stockbrokers to classified advertising and newspapers, or video rental stores. Economists expect AI would deliver higher productivity,
RSS