BANKING
First Bank plans Laos branch
First Commercial Bank (第一銀行), the flagship banking arm of First Financial Holding Co (第一金控), has obtained the green light from the Financial Supervisory Commission to open a branch in Vientiane, the capital of Laos. First Bank said in a statement yesterday it would seek approval from financial authorities in Laos to open the branch as soon as possible.
TECHNOLOGY
Hon Hai sells patents
Hon Hai Precision Industry Co (鴻海精密), the major assembler of Apple Inc’s iPhone and iPad, has sold a number of its communications technology patents to Google Inc for an undisclosed sum. The company said in a statement that it would continue to invest in research and development, “transforming such investments into valuable intellectual property assets.” Pennsylvania-based MiiCs & Partners facilitated the sale, Hon Hai said.
INVESTMENT
Chinese input plummets
Chinese investment in Taiwan in the first quarter plummeted 90.83 percent to US$12.75 million from a year earlier, and investments from other foreign countries also fell in the first quarter by 33.82 percent to US$833.7 million, the Ministry of Economic Affairs’ Investment Commission said on Monday. Meanwhile, Taiwanese investment in China grew 28.97 percent in the first quarter from a year ago to top US$2.8 billion, the commission said.
Semiconductor business between Taiwan and the US is a “win-win” model for both sides given the high level of complementarity, the government said yesterday responding to tariff threats from US President Donald Trump. Home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), Taiwan is a key link in the global technology supply chain for companies such as Apple Inc and Nvidia Corp. Trump said on Monday he plans to impose tariffs on imported chips, pharmaceuticals and steel in an effort to get the producers to make them in the US. “Taiwan and the US semiconductor and other technology industries
SMALL AND EFFICIENT: The Chinese AI app’s initial success has spurred worries in the US that its tech giants’ massive AI spending needs re-evaluation, a market strategist said Chinese artificial intelligence (AI) start-up DeepSeek’s (深度求索) eponymous AI assistant rocketed to the top of Apple Inc’s iPhone download charts, stirring doubts in Silicon Valley about the strength of the US’ technological dominance. The app’s underlying AI model is widely seen as competitive with OpenAI and Meta Platforms Inc’s latest. Its claim that it cost much less to train and develop triggered share moves across Asia’s supply chain. Chinese tech firms linked to DeepSeek, such as Iflytek Co (科大訊飛), surged yesterday, while chipmaking tool makers like Advantest Corp slumped on the potential threat to demand for Nvidia Corp’s AI accelerators. US stock
The US Federal Reserve is expected to announce a pause in rate cuts on Wednesday, as policymakers look to continue tackling inflation under close and vocal scrutiny from US President Donald Trump. The Fed cut its key lending rate by a full percentage point in the final four months of last year and indicated it would move more cautiously going forward amid an uptick in inflation away from its long-term target of 2 percent. “I think they will do nothing, and I think they should do nothing,” Federal Reserve Bank of St Louis former president Jim Bullard said. “I think the
SUBSIDIES: The nominee for commerce secretary indicated the Trump administration wants to put its stamp on the plan, but not unravel it entirely US President Donald Trump’s pick to lead the agency in charge of a US$52 billion semiconductor subsidy program declined to give it unqualified support, raising questions about the disbursement of funds to companies like Intel Corp and Taiwan Semiconductor Manufacturing Co (台積電). “I can’t say that I can honor something I haven’t read,” Howard Lutnick, Trump’s nominee for commerce secretary, said of the binding CHIPS and Science Act awards in a confirmation hearing on Wednesday. “To the extent monies have been disbursed, I would commit to rigorously enforcing documents that have been signed by those companies to make sure we get
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