Taiwan Financial News

Billionaire Mukesh Ambani's Reliance Industries has begun exploring a foray into semiconductor manufacturing, a move that could address its supply chain needs and cater to growing chip demand in India, two people familiar with its strategy said. The telecoms-to-energy conglomerate, encouraged by the Indian government, has held early-stage talks with foreign chipmakers that have the potential to become technology partners, said one of the people who has direct knowledge of the plans. "There is intent, there is no timeline," said the person, adding that Reliance has "yet to make a call on whether they want to ultimately invest." The names of the foreign chipmakers could not be immediately learned.

By Emily Chow and Lewis Jackson

TAIPEI (Reuters) — Taiwan's exports dropped for the 12th consecutive month in August but less sharply than expected, and may return to growth in September ahead of the year-end holiday shopping season, the finance ministry said on Friday.

G20 summit, contributing to deteriorating relations. India has also strengthened its defence ties with the US by joining the Quadrilateral Security Dialogue with Japan and Australia, aimed at countering China's growing influence, reported Bloomberg. India, under Prime Minister Narendra Modi's leadership, is reportedly studying potential responses to a hypothetical Chinese invasion of Taiwan, according to senior Indian government officials.

championed by leaders across the region, went out of vogue after the Asian financial crisis of 1997. The idea that East and South-East Asia’s disciplined governments had a unique economic edge over the decadent West suddenly seemed less compelling. Today in prosperous East Asia a different facet of those ballyhooed values is looking even more parlous.

tech shares tumbling on deepening Sino-U.S. tensions, while the dollar was set to seal its longest winning streak in nine years as investors braced for U.S. interest rates to stay higher for longer. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2% in early trade and is down 1.4% for the week.

Asia Summit on Thursday that «the need of the hour is an Indo-Pacific where international law, including UNCLOS (United Nations Convention on the Law of the Sea), applies equally to all countries, where there is freedom of navigation and overflight, and where there is unimpeded lawful commerce for the benefit of all». He also addressed the India-Asean Summit in Jakarta, where he unveiled a 12-point plan across sectors ranging from connectivity to digital public infrastructure (DPI) and counter-terrorism. "India believes that the Code of Conduct should be effective for the South China Sea, be UNCLOS compliant and, in this, the interests of those countries which are not part of the discussions should also be kept in mind," the PM said. At the East Asia Summit, the PM pitched for everyone's commitment and joint efforts to strengthen the sovereignty and territorial integrity of all countries against the backdrop of China's increasing military assertiveness in the South China Sea.

President Joe Biden wants to show the world at the Group of 20 summit in India and during a stop in Vietnam that the United States and its like-minded allies are better economic and security partners than China. White House officials said Biden, who departed Thursday evening for New Delhi, will use the annual G20 gathering as an opportunity for the U.S. to highlight a proposition for developing and middle-income countries that would increase the lending power of the World Bank and International Monetary Fund by some $200 billion.

TAIPEI (Reuters) — Shares in Taiwan's TSMC, a major Apple (NASDAQ:AAPL) supplier, dropped around 1% on opening on Friday after reports that China has widened curbs on iPhone use by state employees.

Investing.com-- Hong Kong Exchange and Clearing Ltd (HK:0388), the operator of the city’s stock exchange, said on Friday that morning trade in the securities and derivatives market was delayed after the city issued a “Black Rainstorm” warning in the face of torrential rainfall and severe flooding.  

India will be an important country in terms of manufacturing in future, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) has said, his latest comment adding to a growing chorus of global voices acknowledging the country's bold moves to position itself as electronics and hi-tech production powerhouse. In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant said the development of the entire ecosystem and industrial chain, and opportunities for development in India are «very, very huge opportunities». «If there is no big change, India will be a very important country in terms of manufacturing in the future,» Liu said. In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an «appropriate amount of time in India» and the process will be shorter given the experience.

President Joe Biden hopes to demonstrate to the world at the upcoming Group of 20 summit in India and during a visit to Vietnam that the United States and like-minded allies can be more trustworthy partners than China on economic and security issues

East Asian country Taiwan is reportedly planning to put restrictions on unregistered overseas crypto exchanges operating within its jurisdiction as a part of its incoming guidance for virtual asset service providers (VASPs). 

Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, seeking state backing to broaden its footprint in the South Asian country. Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, people familiar with the matter said, asking not to be identified as the plan isn’t public. Such mature chips are used in cars, cameras, printers and a wide variety of other machines.

Australia and China have started their first high-level dialogue in three years in a sign of a slight thaw to relations between countries that have clashed on human rights, COVID-19 and trade

COVID-19 pandemic. His remarks come amidst growing concerns over China's assertive actions in territorial disputes, which were highlighted by Beijing's release of a controversial map claiming territories of other nations as part of China. India, Japan, Indonesia, Malaysia, the Philippines, Vietnam and Taiwan have protested against the Chinese map.

map," China has been questioned by various countries with many of them lodging protests against the nation. Japan is the latest country to join the others in rejecting Beijing's map. According to Matsuno Hirokazu, chief cabinet secretary of Japan, the map's description of the Senkaku Islands is based on Beijing's claims. Hirokazu said the islands are unquestionably an «inherent part» of Japan's territory, in terms of both history and international law, according to Japanese public broadcaster, NHK World. He said that Japan has lodged a strong protest with Beijing via diplomatic channels and has demanded an immediate retraction of the description on the map. However, a Chinese foreign ministry spokesperson dismissed the Japanese government's protest over a description of Japan's Senkaku Islands in a new map released by Beijing, according to NHK. Notably, Japan controls the islands.

Narendra Modi on Thursday pitched for everyone's commitment and joint efforts to strengthen the sovereignty and territorial integrity of all countries. In an address at the East Asia Summit, Modi also said that India believes that the Code of Conduct for the South China Sea should be effective and compliant with the UN Convention on the Law of the Sea (UNCLOS). His comments came days after a number of ASEAN member countries such as Malaysia, Vietnam and the Philippines reacted sharply to Beijing's territorial claim over the South China Sea in its latest edition of the «standard map of China». On August 28, Beijing released the 2023 edition of the «standard map of China» which includes Taiwan, the South China Sea, Arunachal Pradesh and Aksai Chin as Chinese territories.

Foxconn is exploring opportunities to manufacture electric vehicles (EVs) in India and Tamil Nadu is one of the states it is considering to set up a plant, the Taiwanese contract manufacturer’s local representative said.Company chairman Young Liu has spoken about regionalised production for cars, V Lee told ET, referring to the company’s decision to set up an EV factory in Ohio in the US and build another one in Thailand.

WASHINGTON—The Pentagon is considering the development of a vast network of AI-powered technology, drones and autonomous systems within the next two years to counter threats from China and other adversaries. Kathleen Hicks, the deputy secretary of defense, will provide new details in a speech later Wednesday about the department’s plans to spend hundreds of millions of dollars to develop an array of thousands of air-, land- and sea-based artificial-intelligence systems that are intended to be “small, smart, cheap." The U.S.

By Gilles Guillaume