JPMorgan Chase plans to double its Brazil team in the coming years, the company’s chief executive said in an interview with local magazine Exame.
“Over the next five years, we intend to double our team in the country,” Jamie Dimon told the news magazine.
But the company’s Brazil operation is “focused,” he said, and does not plan to go up against large Brazilian institutions at the moment.
“It’s very complicated to compete with the big Brazilian banks if you don’t have scale and heft,” Dimon told the magazine. “That might happen someday, but not now.”
JPMorgan Chase will have its biggest profit in Brazil this year, Dimon said.
Current investor enthusiasm for Brazil is not a fad, said Dimon, praising Brazil’s governance and “unbelievable” natural resources.
“Our economists see Brazil’s economy growing 0.3 percent this year and 5 percent next year,” he said.
And he noted that the recent appreciation in the country’s currency, the real, brings advantages as well as disadvantages.
“The important thing is that the reason behind the strength of the currency is good,” Dimon said. “Brazil is a very interesting place to invest.”
The 34 percent gain in the real this year has prompted much hand-wringing among exporters, who see their products becoming more expensive and harder to sell abroad.
Dimon’s name has been mentioned as a possible successor to US Treasury Secretary Timothy Geithner, the New York Post reported recently.
The nation’s fastest supercomputer, Nano 4 (晶創26), is scheduled to be launched in the third quarter, and would be used to train large language models in finance and national defense sectors, the National Center for High-Performance Computing (NCHC) said. The supercomputer, which would operate at about 86.05 petaflops, is being tested at a new cloud computing center in the Southern Taiwan Science Park in Tainan. The exterior of the server cabinet features chip circuitry patterns overlaid with a map of Taiwan, highlighting the nation’s central position in the semiconductor industry. The center also houses Taiwania 2, Taiwania 3, Forerunner 1 and
FIRST TRIAL: Ko’s lawyers sought reduced bail and other concessions, as did other defendants, but the bail judge denied their requests, citing the severity of the sentences Former Taipei mayor Ko Wen-je (柯文哲) was yesterday sentenced to 17 years in prison and had his civil rights suspended for six years over corruption, embezzlement and other charges. Taipei prosecutors in December last year asked the Taipei District Court for a combined 28-year, six-month sentence for the four cases against Ko, who founded the Taiwan People’s Party (TPP). The cases were linked to the Core Pacific City (京華城購物中心) redevelopment project and the mismanagement of political donations. Other defendants convicted on separate charges included Chinese Nationalist Party (KMT) Taipei City Councilor Angela Ying (應曉薇), who was handed a 15-year, six-month sentence; Core Pacific
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China used fake LinkedIn profiles to harvest sensitive data from NATO and EU institutions by soliciting information from staff, a European security source said on Friday. The operation, allegedly orchestrated by the Chinese Ministry of State Security, targeted dozens of employees at the military alliance or EU organizations through fictitious accounts, the source said, confirming reports in French and Belgian media. Posing as recruiters on the online professional networking platform, Chinese spies would initially request paid reports before later soliciting non-public or even classified information. One particularly active fake profile used the name “Kevin Zhang,” claiming to be the head
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