Fubon Financial Holding Co (富邦金控) signed a memorandum of understanding with Mitsubishi UFJ Financial Group Inc to form a strategic alliance between their banking units, a Fubon Financial official said yesterday.
“This represents a first step between the two companies’ banking units in exploring opportunities to provide corporate banking services to businesses in Asia,” a Fubon Financial vice president, who requested anonymity, told the Taipei Times during a telephone interview yesterday.
She said the two banks had been working together in the foreign exchange business for many years and launched negotiations on the partnership 18 months ago.
Fubon Financial, the nation’s third-largest financial services company by market value, and Mitsubishi UFJ Financial — Japan’s biggest bank by market value — will soon provide more details about the new alliance, she said.
Mitsubishi UFJ Financial is the world’s 10th largest financial group, with ¥193 trillion (US$1.8 trillion) in assets.
In a press statement yesterday, Fubon Financial chairman Daniel Tsai (蔡明忠) said he hoped that the new partnership with the Japanese financial service provider would help Fubon as it continues to position itself as “a top-tier financial institution” in the Asia-Pacific region.
The partnership will cover corporate banking, accounts receivable and syndicated loans, Tsai said.
It could expand into retail, private banking and trade finance, he said.
Shares of Fubon Financial rose 0.38 percent to NT$26.5 yesterday after the Financial Supervisory Commission said on Wednesday it would allow insurance companies, such as those controlled by Fubon Financial, Cathay Financial Holding Co (國泰金控) and Shin Kong Financial Holding Co (新光金控), to buy back their own shares to help shore up the local stock market.
PROTECTION: The investigation, which takes aim at exporters such as Canada, Germany and Brazil, came days after Trump unveiled tariff hikes on steel and aluminum products US President Donald Trump on Saturday ordered a probe into potential tariffs on lumber imports — a move threatening to stoke trade tensions — while also pushing for a domestic supply boost. Trump signed an executive order instructing US Secretary of Commerce Howard Lutnick to begin an investigation “to determine the effects on the national security of imports of timber, lumber and their derivative products.” The study might result in new tariffs being imposed, which would pile on top of existing levies. The investigation takes aim at exporters like Canada, Germany and Brazil, with White House officials earlier accusing these economies of
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
Teleperformance SE, the largest call-center operator in the world, is rolling out an artificial intelligence (AI) system that softens English-speaking Indian workers’ accents in real time in a move the company claims would make them more understandable. The technology, called accent translation, coupled with background noise cancelation, is being deployed in call centers in India, where workers provide customer support to some of Teleperformance’s international clients. The company provides outsourced customer support and content moderation to global companies including Apple Inc, ByteDance Ltd’s (字節跳動) TikTok and Samsung Electronics Co Ltd. “When you have an Indian agent on the line, sometimes it’s hard
‘SACRED MOUNTAIN’: The chipmaker can form joint ventures abroad, except in China, but like other firms, it needs government approval for large investments Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) needs government permission for any overseas joint ventures (JVs), but there are no restrictions on making the most advanced chips overseas other than for China, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. US media have said that TSMC, the world’s largest contract chipmaker and a major supplier to companies such as Apple Inc and Nvidia Corp, has been in talks for a stake in Intel Corp. Neither company has confirmed the talks, but US President Donald Trump has accused Taiwan of taking away the US’ semiconductor business and said he wants the industry back
RSS