Taiwan Financial News

Stinger missiles to boost its defence capabilities amid growing concerns about China's military activities. The Army and Navy each ordered 250 Stinger missiles in 2019 and 2015, respectively. However, Taiwanese forces urgently require more effective countermeasures and deterrence, prompting the Army to order 1,985 more Stinger missiles from the US for approximately NT$55.54 billion,Taiwan News reported, citing Liberty Times. The Army will procure 549 launch systems and 549 identification, friend or foe (IFF) systems. The missiles are expected to be delivered by 2031, according to the MND's 2025 budget report.

After a two-year lull, businesses are warming up to laptops and PCs The covid-19 pandemic created a huge demand, leading to a 56% surge in tablet sales in 2021, and 24% growth in 2022 to an all-time high of 5.3 million units, data shared by IDC India with Mint revealed. This was driven by the need for remote work and education devices—while offices opted for laptops, tablet brands catered to education needs especially in the rural sectors.

(Bloomberg) — Chinese Foreign Minister Wang Yi and US National Security Advisor Jake Sullivan discussed setting up new talks between their presidents in meetings aimed at managing the two nations’ difficult relationship.

Asian shares are mostly lower as market attention turns to upcoming data on the U.S. economy after Nvidia reported its financial results

BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping are set to speak over the phone in «coming weeks,» the White House said Wednesday.

has offered about 2,000 acres of land to Taiwanese contract manufacturer Foxconn to set up a 'Foxconn City', similar to its facilities in its home country and China. Karnataka and Tamil Nadu are also aggressively courting the company to set up the industrial township. As India's place gets cemented into Foxconn's future plans, here's a look at major expansion announcements made by the company recently: Total investment: Foxconn has invested $1.4 billion in India till date. Chairman Young Liu, a Padma Bhushan awardee, said India is an integral partner for the company and its business here has grown to over $10 billion till 2024.

Volt Typhoon is exploiting a bug in a California-based startup to hack American and Indian internet companies, according to security researchers. Volt Typhoon has breached four US firms, including internet service providers, and another in India through a vulnerability in a Versa Networks server product, according to Lumen Technologies Inc's unit Black Lotus Labs. Their assessment, much of which was published in a blog post Tuesday, found with «moderate confidence» that Volt Typhoon was behind the breaches of unpatched Versa systems and said exploitation was likely ongoing. Versa, which makes software that manages network configurations and has attracted investment from Blackrock Inc and Sequoia Capital, announced the bug last week and offered a patch and other mitigations.

Chinese coast guard ship have fired water cannons, blocked and rammed a Philippine fisheries vessel in the disputed South China Sea, where hostilities between the Asian neighbors have flared alarmingly at sea and spread into the air in recent weeks

index provider FTSE on Friday announced changes to its All-World Index where 13 Indian stocks were included. The index saw the most number of additions from India followed by six stocks from Taiwan, two from Korea and Hong Kong and one from Australia. The inclusions were Bank of Maharashtra, Bharat Dynamics, Central Bank of India, Cochin Shipyard, Endurance Technologies, Escorts Kubota, GE T&D India, Hitachi Energy India, Housing And Urban Development (HUDCO), IRB Infrastructure Developers, KEI Industries, Lloyds Metals and Energy and Motilal Oswal Financial Services.

inter-ministerial panel has cleared five-six investment proposals in the electronics manufacturing sector, which include some pure-play Chinese companies and others with connections to the neighbouring country, people familiar with the matter said. The development is significant as these are among the first such approvals in recent times given border tensions and the scrutiny that investments from China have been attracting in India. Prominent names that have recently got approval include Chinese electronics major Luxshare, which is also a vendor for Apple, and a joint venture (JV) between Bhagwati Products (Micromax) and Huaqin Technology, in which the Chinese company will own a minority stake. Other proposals cleared include some Taiwan-based firms listed in Hong Kong or having investments from there.

Macs between April and June on enterprise deals, Mint reported on 3 August. Overall PC sales in India rose 7% year-on-year to 3.39 million units during the period.

Taiwan's Bestec Group has proposed to set up a manufacturing unit near Bengaluru at an investment of Rs 200 crore. Industries Minister MB Patil announced this after he met Bestec Group chairman Mike Chen and vice chairman Teresa Dong on Tuesday. The minister assured that the government would provide full support to facilitate the company's plans.

JR One Footwear Pvt Ltd, a joint venture company between Phoenix Kothari Footwear Ltd and Taiwan-based ShoeTown Group has plans to expand its presence in Tamil Nadu by setting up two more manufacturing facilities and leather component clusters in the state, a top official said on Tuesday. The company had already committed investments of about Rs 5,000 crore for setting up a factory in Perambalur to produce 'Crocs' range of footwear. Spread across 50 acre of land in the district, located about 250 km south of Chennai, the manufacturing unit currently has generated about 1,700 jobs (direct and indirect) in the region. «We are expanding by entering two more districts (For setting up manufacturing facilities). We are bringing two more international footwear brands. We will announce the name of two districts soon, » Phoenix Kothari Footwear Ltd Chairman J Rafiq Ahmed said in an interaction here. Globally, Shoetown Group is a leading manufacturer of footwear and the Kothari Group has ties only with Ron Chang, Chairman, Shoetown Group for manufacturing of footwear in India, he said responding to a query.

Bitcoin remained relatively stable throughout the week, trading between $58,000 and $59,000 as markets anticipated a series of key data releases. The week kicked off with the release of July's Consumer Price Index (CPI) data from both the US and the UK on Wednesday. This was followed by major earnings reports on Thursday from retail giants Walmart and Alibaba. Today, all eyes are on the GDP data expected from Hong Kong and Taiwan, which could further influence market dynamics. Despite these developments, Bitcoin has yet to gather the momentum needed to break above the crucial $60,000 level. A surge in liquidations from crypto derivatives markets has contributed to the lack of upward movement. The US CPI data revealed a price rebound for July, aligning with market expectations. However, this has tempered hopes for a significant interest rate cut by the Federal Reserve in the upcoming month, adding to the cautious sentiment among investors. Additionally, rising geopolitical tensions between Iran and Israel have further intensified market pressures, creating an uncertain environment for risk assets like Bitcoin. Whales are active at the support levels buying the dip.

Foxconn is working on plans to set up a Battery Energy Storage System unit in India, its chairman Young Liu said here. With an eye on the electric vehicle segment, Foxconn has been expanding its battery manufacturing business, with the first plant already set up in Taiwan. Liu told PTI that Foxconn's information and communication technology segment has just started in India. «We are also waiting to put our 3+3 future industry in India. I have been talking to the minister for industries here about how can we collaborate on BESS (Battery Energy Storage System) in Tamil Nadu...,» Liu said.

India's holding of US government securities touched a high of USD 241.9 billion in June as the country continued to increase its exposure for the third straight month. Japan was the top holder with securities worth over USD 1.11 trillion followed by China at the second spot with a holding valued at USD 780.2 billion in June, according to the latest data released by the US Treasury Department. At the third place was the United Kingdom with an exposure of USD 741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of USD 384.2 billion. Among the countries and jurisdictions, India was at the 12th place owning American government securities worth USD 241.9 billion in June, higher than USD 237.8 billion value recorded in May.

Taiwanese contract manufacturer Foxconn is looking to move up the value chain to go beyond smartphones and make products for sectors like information and communication technology (ICT), electric vehicles (EV), batteries as part of their EV strategy and digital health in its next phase of growth in India, its chairman Young Liu told ET on Saturday. “Foxconn is very well known for its vertical integration capabilities. Definitely, we want to move up on the value chain as much as we can in India. That’s what we will be doing in the ICT sector,” Liu said on the sidelines of the inauguration of the company’s massive industrial housing project in Sriperumbudur. “For sectors other than ICT, we think (we will focus on) EVs and energy and also the digital health industry, like wearables for personal use, home use type of medical devices,(and) in hospitals you can have cloud-based digital health systems,” he added. In the case of energy, Foxconn is looking to target batteries, which will be related to its larger EV strategy. Generative artificial intelligence (GenAI) will play a “very big part” in the company’s strategy as it makes “a lot of impossible things possible,” he said.

India so far and plans more investment in the coming year, its Chairman Young Liu said on Saturday. Liu, a Padma Bhushan awardee, said that during his current visit he met various chief ministers and feels that India is on the rise. «So far, till last year, we have done USD 10 billion. We will do much more in this coming year,» Liu told PTI. He was speaking on the sidelines of the inauguration of the company's women-only residential complex near Foxconn's plant here.

Young Liu on Saturday asserted that the company hires employees regardless of gender but in India women, specially married women, have contributed greatly to its efforts. The chairman of the Taiwan-based iPhone contract manufacturer was speaking at the inaugural ceremony of its women-only residential complex here. The Foxconn chairman said there is an upward trend in all types of hiring by the Taiwanese electronics manufacturing major in India. "Foxconn hires regardless of gender, but women do make up a big part of our workforce here. I'd emphasise that married women greatly contribute to the efforts of what we are doing here," Liu said.

Taiwan tracked 13 Chinese aircraft and seven Chinese vessels around its territory until 6 am on Saturday. According to Taiwan's Ministry of National Defence (MND), 12 of the aircraft crossed the median line and entered Taiwan's northern, south-western, and eastern air defence identification zone (ADIZ). It added that Taipei has monitored the situation and «responded accordingly.»

Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the U.S. Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production. The funding, under the US CHIPS and Science Act, will help the company build two factories in Texas and one in Utah. Texas Instruments has pledged more than $18 billion through 2029 to the projects, which are expected to create 2,000 manufacturing jobs. The chipmaker also expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, and $10 million in funding for workforce development.