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A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.
Taiwanese firms join global players in participating in the ESG revolution
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TAIPEI, Feb. 2, 2021 /PRNewswire/ Environmental, Social and Governance (ESG) investing is a form of responsible investing that has become a new and revolutionary trend in recent years. As more attention is drawn to ESG investing, investments with a strong ESG profile are becoming standard components of both funds and ETFs, while sustainability is being seen the most important factor of consideration in the capital markets of the future.
Taiwanese firms unite to issue a declaration that recognizes the value of ESG development goals (PRNewsfoto/Business Today Magazine)
Number of digital savings accounts rose 12.4 percent
By Kao Shih-ching / Staff reporter
The number of digital savings accounts opened at the nation’s banks rose 12.4 percent quarterly to 6.46 million as of the end of last year, as lenders offered higher interest rates to compete against Web-only banks, Financial Supervisory Commission (FSC) data showed yesterday.
The figure rose 90 percent from 3.38 million at the end of 2019, the data showed.
Among the 35 banks that allow clients to open digital savings accounts, Taishin International Bank (台新銀行) remained in first place with 2.36 million accounts, up 5.3 percent quarter-on-quarter, while Cathay United Bank (國泰世華銀行) retained the number two spot with 966,000, up 15.68 percent quarterly, the data showed.
Yuan deposits climb to highest level since 2014
By Crystal Hsu / Staff reporter
Chinese yuan deposits held by local banks last month rose 3.66 percent from one month earlier to 244.49 billion yuan (US$37.65 billion), the highest in six-and-a-half years, as Taiwanese regained interest in the currency, which has appreciated against the US dollar, the central bank said yesterday.
“The explosive increase in yuan deposits had much to do with popular expectations that the US dollar is to remain weak for quite a while,” central bank foreign exchange official Gloria Chen (陳婉寧) said, noting that the monthly changes had been small in the past two years.