Former US vice president Dan Quayle is visiting Taiwan as a consultant to Cerberus Capital Management, an investment firm interested in setting up an asset management company locally.
Quayle met Minister of Finance Yen Ching-chang (
"Because Quayle is currently involved ... in an asset management corporation, he took the opportunity to understand regulations [regarding such companies] in our financial institutions merger law," Yen said shortly after an hour-long closed-door meeting.
PHOTO: GEORGE TSORNG, TAIPEI TIMES
According to Yen, Bruno had expressed interest in setting up an asset management company in Taiwan sometime in the near future.
The government is wooing international investment banks to set up asset management companies in joint venture with domestic firms to help clean up the nation's higher number of non-performing loans.
The Financial Institutions Merger Law, which was passed last Friday, is expected to aid the financial sector's restructuring.
Leading banks are seen as interested in coming to Taiwan to set up asset management corporations.
Quayle, however, declined to comment on the exact nature of his visit. The main purpose of this visit, he said, was to "see some friends in Taiwan and to have some good conversations with the president this afternoon."
Quayle met with President Chen Shui-bian (
He also met with the leaders of Shinkong Group yesterday and is expected to meet with the representatives of the Koo's Group and KMT chairman Lien Chan (
Stanley Kao (
Jackson is director of Asian Studies at Paul H. Nitze School of Advanced International Studies at John Hopkins University.
While Quayle is not expected to take up a government post, his influence may grow if George W. Bush wins the final vote tally in Florida. Quayle, 53, served as US vice president under former president George Bush from 1989 to 1992. The Bush-Quayle team lost their re-election bid in 1992 to the current Clinton-Gore administration.
Meanwhile, Quayle declined to make any specific comments on the US election. "I am not here talk about the support of recount, but to learn more about Taiwan," he said.
"I am delighted to be back here by my fourth visit of Taiwan, obviously at a rather historic time when the American presidency was still somewhat in limbo."
Quayle, however, said there is "no crisis" in the system. "We have a president, Bill Clinton, and we'll get on with the nation's business in due course."
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS