Taiwan Financial News

Taiwan legislators are working towards presenting the country's first crypto regulatory bill in November 2023, according to an exclusive interview granted to the Block's Timmy Shen.

Lawmakers in Taiwan are reportedly aiming to push out a first draft of a special law by the end of November 2023, according to a report from the Block. 

sudden removal as foreign minister of Qin Gang, who was given that post by Mr Xi in December. Mr Xi’s supporters might argue that he is injecting new momentum into two of his signature domestic initiatives—an anti-corruption drive and a programme to transform the PLA into a modern fighting force. They might also make the case that he is demonstrating a commendable resistance to favouritism by not shielding protégés.

Russian President Vladimir Putin lauded the recent G20 summit hosted by India as an unconditional success of Prime Minister Narendra Modi as he was able to depoliticise decisions at the mega event. “PM Modi was able to depoliticise the decisions adopted at the G20 and that was the right way. G20 was created to discuss economic issues, not political ones.

By Stephen Nellis and Max A. Cherney

Nearly 50% of digital asset users view added financial liquidity as a major reason for investing in cryptocurrencies, a new survey shows.

TAIPEI (Reuters) — Taiwan's government has opened an investigation into four companies named in a media report as conducting business with firms linked to U.S.-sanctioned Huawei in China, and is considering tighter rules on key technologies.

Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards.

WASHINGTON—The Pentagon is poised to make controversial cuts to the Army’s storied special-operations forces, amid recruiting struggles and a shift in focus from Middle East counterterrorism operations to a threat from China. The Army is cutting about 3,000 troops, or about 10% from its special-operations ranks, which could include so-called trigger-pullers from the Green Beret commando units who have conducted some of the nation’s most dangerous and sensitive missions around the world, from the jungles of Vietnam to the back alleys of Baghdad. The reductions would enable the Army to rebalance toward the large conventional ground forces needed in a potential fight in Asia.

China is spending billions of dollars annually on foreign information manipulation efforts including through China-Pakistan Media Corridor and Beijing uses false or biased information to promote positive views of the country and the Chinese Communist Party (CCP) alleged a newly released US State Department Report. At the same time, China suppresses critical information that contradicts its desired narratives on issues such as Taiwan, its human rights practices, the South China Sea, its domestic economy, and international economic engagement, alleged the report titled ‘How the People’s Republic of China Seeks to Reshape the Global Information Environment.’ “More broadly, the PRC (People’s Republic of China) seeks to cultivate and uphold a global incentive structure that encourages foreign governments, elites, journalists, and civil society to accept its preferred narratives and avoid criticizing its conduct,” the State Department report claimed.

Chinese tech giant. Huawei, a leader in 5G telecom equipment, has been at the centre of the intensifying US-China rivalry over advanced tech in recent years. The United States and its allies have curtailed its access to major markets and advanced tech — including chip making — over fears its products could allow China to spy on their networks. Taiwan's Minister of Economic Affairs Wang Mei-hua agreed on Wednesday — during questioning by lawmakers — to launch a probe into four tech firms that collaborated with Huawei on chip plants. The four Taiwanese companies are helping Huawei develop an «under-the-radar network of chip plants» in China, Bloomberg reported this week. The companies were identified by Bloomberg as Topco Scientific Co., L&K Engineering Co., United Integrated Services Co.

Taiwan's Foxconn, the world's largest contract electronics maker and a major Apple supplier, predicted on Thursday strong year-end holiday sales after September sales dropped, coming off a high base for consumer electronics. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets.

Typhoon Koinu's storm encircled Taiwan between 6 am Wednesday (October 4) and 6 am Thursday (October 5), its defence ministry (MND) tracked one Chinese military aircraft and three navy vessels across the nation, Taiwan News reported. The People's Liberation Army Air Force (PLAAF) military aircraft and three PLAN boats were reportedly spotted, according to the defence ministry. Taiwan's Defence Ministry (MND)said that no graphic of the flight paths had been supplied since there had been no indication that any PLAAF aircraft had crossed the Taiwan Strait's middle line or gotten as far as Taiwan's Air Defence Identification Zone (ADIZ)'s southwest sector. The MND said that it used its intelligence, surveillance, and reconnaissance apparatus to keep an eye on the situation. It responded by dispatching navy ships, combat patrol aircraft, and land-based air defence missile systems. Beijing has been using «grey zone tactics» more often since September 2020, such as deploying military aircraft and naval vessels beyond the middle line and within Taiwan's ADIZ, Taiwan News reported. Notably, Grey zone tactics are «an effort or series of efforts beyond steady-state assurance and deterrence that attempts to achieve one's security objectives without resorting to the direct and substantial use of force.» Typhoon Koinu on Wednesday pounded Taiwan with heavy rain and winds.

MUMBAI : Foreign institutional investors (FIIs) have reduced their shareholding in the HDFC Bank to 58.75% as of 30 September-end against 60.23% as of 14 June prior to the effective date of HDFC’s merger into it on 1 July. This has increased the foreign room to 20.3% from 18.4% from 14 June, according to Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research. Foreign room is a measure used by global index provider MSCI to determine the proportion of shares still available for investment by foreign investors relative to the maximum limit.

₹850 crore) to the gross domestic product and supporting over 11,500 local jobs in 2022 alone, said a new research from Oxford Economics. According to the research, Goa had the largest share of Airbnb guest spending, amounting to a total of $189 million (approx. ₹1,480 crore) in 2022, in areas like purchases on transportation, restaurants, retail stores, and retail stores.

TAIPEI (Reuters) — Taiwan's central bank will intervene in the foreign exchange market if there are «extreme» fluctuations to maintain financial stability, its governor Yang Chin-long said on Wednesday.

Promises of money today create expectations of more money tomorrow As in the 1990s, government attempts to boost their chip industries are running into trouble. Morris Chang, the founder of tsmc, a big Taiwanese producer, told Nancy Pelosi, a senior Democrat, that American efforts to rebuild chip manufacturing at home were doomed. The firm says that production at its first plant in Arizona will be delayed until 2025 due to a shortage of specialist workers.

Despite United States Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres calling on the Securities and Exchange Commission (SEC) to immediately approve the listing of spot Bitcoin (BTC) exchange-traded funds (ETFs), the agency once again delayed its decision. 

Singapore's Vertex Technology Acquisition Corp (VTAC) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The deal is the first purchase of a private company by a SPAC listed in the city-state since 2021 when the Singapore Exchange allowed SPACs, or shell firms, to float shares in a bid to position itself as a hub for this type of vehicle in Asia.

Shares are mostly lower in Europe and Asia even after the U.S. Congress averted a U.S. government shutdown

By Padraic Halpin and Max A. Cherney