Taiwan Financial News

South Korea has unveiled a $19 billion support package to bolster its semiconductor industry, seeking to catch up with international rivals amid soaring demand for advanced chips to power artificial intelligence and other computing. The 26 trillion won ($19.03 billion) package, announced by President Yoon Suk Yeol on Thursday, focuses largely on providing financial support through state-run Korea Development Bank for chip makers and suppliers to invest in semiconductor infrastructure in the North Asian nation.

Dozens of warplanes, multiple destroyers and frigates" of the PLA were spotted encircling Taiwan and its outlying islands. The drills began Thursday morning."The drills are being conducted in the Taiwan Straits, the north, south and east of Taiwan island, as well as areas around the islands of Kinmen, Matsu, Wuqiu, and Dongyin," China state media Global Times reported.It also shared a picture showing the locations where the PLA conducted Joint Sword-2024A exercises on Thursday.This is not the first time China has conducted military drills around Taiwan.

Pixel 8 series appears to be accelerating. According to sources cited by the Economic Times, Dixon Technologies has started trial runs, setting the stage for the first batch of Indian-assembled Pixel 8 smartphones to be available by September potentially.Previously, the Google Pixel 8 series was produced in China and Vietnam.

In synchrony with the broader national intent of India becoming a developed nation, the Insurance Regulatory and Development Authority of India (IRDA) has embraced the laudable goal of “India Insured by 2047." The objective is to ensure that “every citizen has appropriate life, health and property cover and every enterprise is supported by an appropriate solution" and to make India’s insurance sector “globally competitive," as elaborated in a press release. Enthusiasm within the IRDA is palpable. Coordinated attempts are afoot to usher in regulatory changes and push insurance companies to reach out wider, especially to the rural uninsured, and diversify their product baskets to make insurance more accessible, affordable and relatable.

Chinese military drills in the straits of Taiwan in 2023 practiced manoeuvres key to an invasion of the island, although an actual attack was not imminent or inevitable, a senior US general in the region said on Thursday. In the exercises, the People's Liberation Army simulated a maritime and air blockade of Taiwan, amphibious assaults and counter-intervention operations, Deputy Commander of U.S. Indo-Pacific Command, Lieutenant General Stephen Sklenka, said in a speech in Canberra. Sklenka's comments come as Taiwan's military mobilised its forces on Thursday after China started two days of «punishment» drills around Taiwan in what it said was a response to «separatist acts».

Lai Ching-te took over as the island’s new president.The drills on Thursday were intended to “serve as a strong punishment for the separatist acts of ‘Taiwan independence’ forces and a stern warning against the interference and provocation by external forces," the official Xinhua News Agency reported, citing a military spokesman.The “external references" line is likely a reference to the US, which is Taiwan’s main military backer. President Joe Biden has repeatedly said the US would defend the democracy of 23 million people if attacked, while China has pledged to bring Taiwan under its control, by force if necessary.The exercises ramp up pressure on Lai, who took office in the island that makes the bulk of the world’s most advanced chips on Monday.

monetary easing amid sticky inflation. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.57%. Australia's S&P/ASX 200 index was one of the biggest decliners, slumping 0.8%, also hurt by a pullback in some commodity prices.

NoPo Nanotechnologies, which makes an advanced material that can replace silicon in semiconductors and batteries and is supplying samples to chipmakers in Taiwan and Japan, is scaling up production capacity, its founders told ET. Single-walled carbon nanotubes (SWCNTs), which Bengaluru-based NoPo makes, have applications of a wide range, from EV battery manufacturing, where the material can improve energy density, to design of semiconductors.

China's military started two days of «punishment» drills around Taiwan on Thursday in what it said was a response to "separatist acts", just days after new Taiwan President Lai Ching-te took office and called on Beijing to cease its threats. China detests Lai, saying he is a «separatist», and it has denounced his inauguration speech on Monday. Chinese Foreign Minister Wang Yi this week called Lai «disgraceful». Lai has repeatedly offered talks with China but been rebuffed. He says only Taiwan's people can decide their future, and rejects Beijing's sovereignty claims.

China has sanctioned 12 defense-related U.S. companies and 10 executives over arms sales to Taiwan and to retaliate for earlier American sanctions on Chinese companies tied to Russia

India's electronics manufacturing services (EMS) into sharp focus:

financial savings to 6% of GDP in FY24 from 5.1% in the previous year, Goldman Sachs said in a report on Wednesday. “This (increase in net financial savings) is mainly driven by our estimate of higher gross financial savings of 12.5% of GDP (vs 11.0% of GDP in FY 2023) owing to our estimate of higher bank deposit growth,” it said. The global investment bank’s research unit noted that gross financial savings are expected to outpace the increase in household financial liabilities in FY24.

Alphabet had announced in October last year that it will make Google Pixel smartphones in India. It's the only large global smartphone brand that was missing from the make-in-India drive in smartphones. Dixon's Pixel capacity will be 100,000 units per month with 25-30% to be exported as it makes a fresh attempt to gain market share in India, the world's second largest smartphone market. The Pixel 8 model accounts for almost 80% of all Pixels sold in India, executives said.

“This is 1938," historian Timothy Snyder said at a weekend conference in Estonia. He warned that a Ukrainian defeat would shift the calendar to 1939. Many Americans still don’t fully grasp how serious the international situation has become.

China’s Ministry of Commerce has announced sanctions against Boeing and two other defense companies for their arms sales to Taiwan

Bitcoin has achieved all-time highs against local currencies in several countries across Asia and South America, following a significant 7% surge in its price.

Taiwanese national and dark web drug dealer Rui-Siang Lin, ‘Pharaoh’, who allegedly made more than $100 million in cryptocurrency sales of illegal narcotics, has been arrested by U.S. authorities.

Priyanka Chopra cut a striking figure at the Bvlgari Aeterna Event in Rome, Italy. The ‘Bajirao Mastani’ star looked drop-dead-gorgeous in an off-shoulder cream and black dress. She accentuated the elegant look with a Serpenti Aeterna necklace. She was also seen sporting a short hairstyle. The ‘Mary Kom’ actress was seen posing cheerfully with other celebs such as ‘Princess Diaries’ star Anne Hathaway, ‘Mulan’ actress Liu Yifei and Taiwanese actress Shu Qi. Hathway looked ravishing in a pristine white outfit, while Liu Yifei and Shu Qi stole the show in a mint green and blue and red gowns respectively. On the work front, Chopra will next be seen in the action comedy ‘Heads Of State’. Helmed by Ilya Naishuller, the movie will also star Idris Elba, John Cena, Carla Gugino among others. In addition to this, she recently unveiled her upcoming project, ‘The Bluff’ directed by Frank E Flowers. Chopra also revealed her involvement as a producer in a new film, collaborating with the production team behind Barry Avrich's upcoming feature documentary, ‘Born Hungry’.

TAIPEI—Taiwan’s new president said the island democracy would serve as a “helmsman of global peace" under his watch in a carefully calibrated inauguration speech reflecting his delicate status at the fulcrum of tensions between the U.S. and China. With Beijing and Washington both listening carefully, Lai Ching-te offered to keep Taiwan open to engagement with China.

Taiwan is reducing its reliance on the Chinese mainland as it seeks to insulate itself from pressure from Beijing and forge closer economic and trade ties with the United States

Asian stocks have advanced after U.S. stock indexes drifted near their records on Friday with the Dow Jones Industrial Average finishing above 40,000 for the first time