Taiwan Financial News

M1A2T Abrams tanks from the United States, marking the first US tank delivery to the island in 23 years, Radio Free Asia reported. According to Radio Free Asia, this shipment is part of a larger order of 122 tanks expected over the next two years. While the M1A2T is regarded as one of the most advanced main battle tanks globally, some experts have raised concerns about its suitability for Taiwan's mountainous terrain and dense urban areas. However, the tanks are seen as a major boost to Taiwan's defence capabilities, especially considering the ongoing tension with China. The M1A2T Abrams, an advanced version of the M1 Abrams produced by General Dynamics, is equipped with a 120mm smoothbore gun capable of penetrating armour up to 850mm thick. Its formidable firepower, enhanced armour, and speed make it a powerful asset for Taiwan's military.

White House said, while the State Department approved the potential sale to the island of $265 million worth of military equipment. The United States is bound by law to provide Chinese-claimed Taiwan with the means to defend itself despite the lack of formal diplomatic ties between Washington and Taipei, to the constant anger of Beijing. Democratically governed Taiwan rejects China's claims of sovereignty.

Micromax Informatics has inked a joint-venture partnership with Taiwan-based Phison to design and manufacture storage modules, in a bid to boost the country’s electronics component ecosystem. The collaboration will leverage Micromax’s customer relationships within India and Phison’s expertise in NAND storage technology for offerings across enterprise, consumer, embedded, AI, and security applications within India’s burgeoning tech ecosystem and specific agreed-up regions, the two companies said in a joint statement. The joint-venture entity, called MiPhi, will also offer support and RMA services, along with a sales channel to India and other agreed-upon regions.

Shares are mixed in Asia after the Nasdaq set a record ahead of a meeting by the Federal Reserve later this week that could set the direction for markets in the new year

President-elect Donald Trump joined SoftBank Group CEO Masayoshi Son to announce plans by the Japanese company to invest $100 billion in U.S. projects over the next four years

NATO Secretary General Mark Rutte criticised China's stance towards Taiwan and said that «China is bullying Taiwan, and pursuing access to critical infrastructure in ways that could cripple societies.» The remarks by Rutte came while delivering a speech at Carnegie Europe think tank in Brussels on Thursday. He said, «We need to be clear-eyed about China's ambitions. China is substantially building up its forces, including its nuclear weapons — with no transparency and no limitations. From 200 warheads in 2020, China is expected to have more than 1,000 nuclear weapons by 2030. Its space-launch investments are skyrocketing. China is bullying Taiwan, and pursuing access to our critical infrastructure in ways that could cripple our societies»

The video was shared by the Taiwanese Defence Ministry through a post on X. «The threat posed by #PLA to Taiwan and the region has escalated from coercion to directly affecting the First Island Chain, undermining the rules-based international order. #ROCArmedForces continue to forge our capabilities and deter war», the MND said.

The chip, code-named Proxima, has been under development for several years and is now slated to go into the first iPhones and smart home devices produced in 2025, the report said, citing people familiar with the matter. The iPhone maker's in-house chips will be produced by Taiwan Semiconductor Manufacturing Co, the report added.

Lisa Su, the CEO of Advanced Micro Devices (AMD), its CEO of the Year, a recognition that highlights her transformative leadership and the remarkable turnaround of the company. Since taking over as CEO in 2014, Su has propelled AMD from a struggling competitor to a dominant player in the semiconductor industry, challenging the long-standing supremacy of Intel and, more recently, Nvidia. This award comes as the semiconductor sector is undergoing explosive growth, fueled by breakthroughs in artificial intelligence (AI) and the growing demand for graphics processing units (GPUs)—both of which have been central to AMD's strategy under Su’s leadership.

WASHINGTON: Two senior members of Taiwan's government are in the United States to meet people connected to President-elect Donald Trump's transition team, five sources told Reuters, in an effort by Taiwan to establish ties with the incoming administration. Lin Fei-fan and Hsu Szu-chien, both deputy secretaries-general of Taiwan's National Security Council and several of their staff have traveled to the Washington area for meetings through this week, the sources said on condition of anonymity.

The Biden administration has announced it is raising tariffs on solar wafers, polysilicon and some tungsten products from China to protect U.S. clean energy businesses

Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses. The notice from the US Trade Representative's office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% from 25% and duties on certain tungsten products will increase from zero to 25%, effective on Jan. 1, following a review of Chinese trade practices under Section 301 of the 1974 Trade Act. The decision followed a public comment period after the USTR said in September that it was considering such actions.

The chipmaking icon's revenue for the first nine months of this year, which was roughly flat year-on-year at $38.84 billion, was below the ratings agency's expectations, S&P Global said. The departure of CEO Pat Gelsinger, who was critical to the Intel's integrated manufacturing strategy, also adds uncertainty to the execution of the company's turnaround plan, S&P Global said.

Chinese military activity around the island on Wednesday, including 53 military aircraft, with Taiwan on high alert over Beijing's latest pressure campaign. China's military has yet to comment and has not confirmed it is carrying out any military exercises. China, which views democratically governed Taiwan as its own territory, had been expected to launch drills to express its anger at President Lai Ching-te's tour of the Pacific that ended on Friday, which included stopovers in Hawaii and the U.S. territory of Guam.

The deployment covers a wider area this time, with additional ships going beyond Taiwan into other parts of the Pacific, defence officials said at a news conference. Lt. Gen. Hsieh Jih-sheng said China's navy is creating two walls — one at Taiwan's perimeter and another outside the first island chain, which extends south from Japan and through Taiwan to the Philippines. «The message they are sending is very simple: The Taiwan Strait is ours,» he said, referring to the waters between Taiwan and China.

Subscribe to enjoy similar stories. TAIPEI—China massed dozens of navy and coast guard vessels in what appears to be the largest maritime exercises targeting Taiwan and the broader Western Pacific region since 1996, a potent warning to the incoming Trump administration of its intention to eventually take control of the island. China’s military didn’t announce the start of any drills.

The Ministry of National Defence (MND) issued a statement confirming the manoeuvres, noting that the People's Liberation Army (PLA) had designated seven areas east of Zhejiang and Fujian provinces as temporary airspace reservations until Wednesday. These areas are typically designated for exclusive use during specific periods. In response to the PLA's activities, the MND initiated war-preparedness drills at strategic locations across the island and is closely coordinating with the Coast Guard Administration to implement appropriate countermeasures.

Shares are mostly lower in Asia, with South Korea's benchmark down 2.3%, after U.S. stocks rose to records on Friday

balloons near Taiwan between Saturday and Sunday, according to Taiwan's Defence Ministry, as Beijing ramps up pressure on the island it claims as its own. China's military activities come amid speculation Beijing might organise military drills around the island in response to Taiwanese President Lai Ching-te's recent visit to Pacific allies, including US stops in Hawaii and Guam. China claims Taiwan, a self-ruled democracy of 23 million people, as its own territory, and bristles at other countries' formal exchanges with Taiwan. The United States, like most countries, doesn't recognize Taiwan as a country but is its main unofficial backer and sells it arms.

Vivek Ramaswamy, who is co-heading proposed Department of Government Efficiency, had a controversial past with billionaire Elon Musk. Ramaswamy has a lengthy history of attacking Musk's ties to China, frequently referring to his partner's as a «circus monkey», and a puppet for the Chinese Communist Party, reports the CNN. Ramaswamy also criticized Tesla's investments and Musk’s comment on Taiwan. He argued the Tesla CEO was pandering to the Chinese Communist Party for business benefits, such as regulatory approvals and tax breaks. Ramaswamy’s critiques, reviewed by CNN’s KFile, include pointed remarks about Musk’s 2022 suggestion that Taiwan should become a special administrative region of China. ALSO READ: US stares at billions in losses as China bans exports of these rare minerals. All you need to know

Paraguay expelled the eminent Chinese diplomat Xu Wei from the country pretty recently while accusing him of interfering in its domestic affairs and urging the nation to sever its long-standing ties with Taiwan, reported CNN. According to CNN, the Paraguayan Ministry of Foreign Affairs declared Xu Wei as persona non grata while totally revoking his visa and gave him just 24 hours to leave the country. Xu Wei was originally in Paraguay for a UNESCO meeting but eventually caused a diplomatic stir by visiting Congress where he reportedly pressured the lawmakers to choose between China and Taiwan while stating that ‘It is either China or Taiwan’. Paraguay is one of only 12 unique countries globally that actually recognizes Taiwan as a sovereign state and it still remains the sole supporter in South America, asserted CNN. The Paraguayan government has resisted all kinds of pressure from Beijing while at the same time several Latin American nations have already switched their allegiance from Taiwan to China in recent years.