Forty-two companies — including three Taiwanese firms — are still operating in Russia, despite the majority of international companies having left the country in protest over its invasion of Ukraine, US research showed yesterday.
On Feb. 28 — four days after the invasion began — Jeffrey Sonnenfeld, the senior associate dean for Leadership Studies at the Yale School of Management, and other Yale researchers published on a Web site a list of companies that had left Russia or were continuing to operate in the country.
The team divided the list into five categories: “withdrawal,” “suspension,” “scaling back,” “buying time” and “digging in” to describe their actions since the invasion.
Photo: Cho Yi-chun, Taipei Times
The Web site says that firms in the “suspension” category are “temporarily curtailing operations while keeping return options open,” while those “buying time” are “postponing future planned investment, development and marketing while continuing substantive business.”
Those “digging in” are “companies defying demands for exit/reduction of activities,” it says.
As of yesterday, the Yale School of Management Web site, where an Excel spreadsheet of the firms can be downloaded, showed 174 companies in the “withdrawal” category, or an “A” grade, 195 in “suspension” (B grade), 31 “scaling back” (C grade) and 56 “buying time” (D grade).
Forty-two were listed as “digging in,” or given an “F” grade, including Taiwanese tech firms Acer Inc (宏碁), Asustek Computer Inc (華碩, Asus) and Micro-Star International Co (微星科技, MSI).
Other international companies listed as remaining in the Russian market included French supermarket chain Carrefour, French sporting goods retailer Decathlon, British-Swedish pharmaceutical and biotechnology company AstraZeneca and Swiss financial services firm Credit Suisse.
New Taipei City-based Acer yesterday said that it would “comply with all laws and regulations related to international trade.”
MSI as of press time last night had not commented publicly on its inclusion on the list.
Asus on March 14 said that it has effectively stopped shipping to Russia and would donate NT$30 million (US$1.05 million) to a disaster relief fund for Ukraine after Ukrainian Deputy Prime Minister Mykhailo Fedorov wrote on Twitter that Asus should withdraw from the Russian market.
EXPRESSING GRATITUDE: Without its Taiwanese partners which are ‘working around the clock,’ Nvidia could not meet AI demand, CEO Jensen Huang said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and US-based artificial intelligence (AI) chip designer Nvidia Corp have partnered with each other on silicon photonics development, Nvidia founder and CEO Jensen Huang (黃仁勳) said. Speaking with reporters after he met with TSMC chairman C.C. Wei (魏哲家) in Taipei on Friday, Huang said his company was working with the world’s largest contract chipmaker on silicon photonics, but admitted it was unlikely for the cooperation to yield results any time soon, and both sides would need several years to achieve concrete outcomes. To have a stake in the silicon photonics supply chain, TSMC and
IDENTITY: Compared with other platforms, TikTok’s algorithm pushes a ‘disproportionately high ratio’ of pro-China content, a study has found Young Taiwanese are increasingly consuming Chinese content on TikTok, which is changing their views on identity and making them less resistant toward China, researchers and politicians were cited as saying by foreign media. Asked to suggest the best survival strategy for a small country facing a powerful neighbor, students at National Chia-Yi Girls’ Senior High School said “Taiwan must do everything to avoid provoking China into attacking it,” the Financial Times wrote on Friday. Young Taiwanese between the ages of 20 and 24 in the past were the group who most strongly espoused a Taiwanese identity, but that is no longer
A magnitude 6.4 earthquake and several aftershocks battered southern Taiwan early this morning, causing houses and roads to collapse and leaving dozens injured and 50 people isolated in their village. A total of 26 people were reported injured and sent to hospitals due to the earthquake as of late this morning, according to the latest Ministry of Health and Welfare figures. In Sising Village (西興) of Chiayi County's Dapu Township (大埔), the location of the quake's epicenter, severe damage was seen and roads entering the village were blocked, isolating about 50 villagers. Another eight people who were originally trapped inside buildings in Tainan
SHARED VALUES: The US, Taiwan and other allies hope to maintain the cross-strait ‘status quo’ to foster regional prosperity and growth, the former US vice president said Former US vice president Mike Pence yesterday vowed to continue to support US-Taiwan relations, and to defend the security and interests of both countries and the free world. At a meeting with President William Lai (賴清德) at the Presidential Office in Taipei, Pence said that the US and Taiwan enjoy strong and continued friendship based on the shared values of freedom, the rule of law and respect for human rights. Such foundations exceed limitations imposed by geography and culture, said Pence, who is visiting Taiwan for the first time. The US and Taiwan have shared interests, and Americans are increasingly concerned about China’s
RSS