Bank Of Taiwan

Fed OKs Bank Branch in L.A.: The U.S. Federal Reserve Board has approved an application by the Bank of Taiwan to establish a state-licensed branch in Los Angeles. The Bank of Taiwan's branch will be its second office in the United States. Separately, the Fed has approved an application by Chiao Tung Bank of Taipei, Taiwan, to establish a state-licensed agency in New York City. The Chiao Tung Bank already operates a state-licensed branch in San Jose.

Fed OKs Bank Branch in L.A.: The U.S. Federal Reserve Board has approved an application by the Bank of Taiwan to establish a state-licensed branch in Los Angeles. The Bank of Taiwan's branch will be its second office in the United States. Separately, the Fed has approved an application by Chiao Tung Bank of Taipei, Taiwan, to establish a state-licensed agency in New York City. The Chiao Tung Bank already operates a state-licensed branch in San Jose.

For bankrupt Orange County, it was an offer that sounded too good to be true. And a proposal by a mysterious Taiwan firm to bail the county out of its $1.7-billion hole seems to be just that. Earlier this week, news surfaced that a Taiwanese outfit called Huang Neumg Industry had expressed interest in loaning Orange County $3 billion at a bargain-basement 4% interest rate. Toshio Kojima, the firm's "international director," made the pitch in a letter to an Orange County official.

The Central Bank of Taiwan has enacted measures to bolster investor confidence in the battered stock market after the Taiwan Stock Exchange index hit a 20-month low last weekend. The bank said it approved a Securities and Exchange Commission proposal to increase upper lending limits for those who borrow funds or stocks to invest in the stock market. The bank also said that it will permit four mutual fund companies to raise more funds from overseas investors who want to invest in Taiwan stocks.

This island's latest big shift in China policy got rave reviews from the stock market and business leaders Monday, though some politicians urged the government to be careful with the new plan to expand economic ties with the mainland. The reaction came one day after President Chen Shui-bian accepted the advice of a high-powered team of advisors, who urged him to scrap limits on trade and investment with Taiwan's Communist neighbor.

The relaxation of foreign exchange controls and the rising Taiwan dollar is driving Taiwan to look for investments and technical cooperation abroad. Taiwan is particularly interested in opportunities in the United States, its largest trading partner, said Samuel C. Shieh, chairman of the Bank of Communications, who was one of 12 Taiwanese bank executives to participate in a recent trade mission to the United States, including a stop in Los Angeles.

Foreign banks trying to gain a foothold in booming Vietnam face a tough cultural barrier: Most people don't use banks, and many don't trust them. Instead, they stash their money at home and rely on informal lending networks of family and friends for loans. "Banks require too much paperwork, and the charges are too high," said Cao Thi Dong, 40, a housekeeper. "If I borrow from people I know, I can get a much better interest rate."

Taiwan's financial system, rocked by two scandals last week, is braced for more trouble and a possible run on short-term debt this week. The main stock index of the Taiwan Stock Exchange on Saturday plunged 4.9% to a 19-month low of 4823.86 amid the possible threat to financial stability. The index has lost 32% this year in the worst performance among the world's stock markets.

The terrorist attacks on the World Trade Center were targeted at the United States, but may also have killed citizens of more than 60 nations. United Nations Secretary-General Kofi Annan said Tuesday that 62 countries have reported citizens missing since the twin towers collapsed and burned Sept. 11. Annan cited the number during his first visit to the disaster scene, where he described the carnage as "much worse than I thought."

Like many self-respecting young Japanese women, Joyce Chen chooses her wardrobe with care. She takes fashion cues from the Japanese teen magazine Non-No, studies the clothes of Japanese soap opera stars and pays close attention to style in Japanese music videos. Then she goes shopping at boutiques such as "100%," whose women's wear is exclusively Japanese.

As U.S. government and business focus on China in the wake of Deng Xiaoping's death, keep in mind that Southern California has a different perspective on most matters concerning China and Asia. The region is more directly involved with China than the rest of the country, which is an advantage if China prospers but trouble if it doesn't. Advantages are easy to identify. On trade, for example, Washington looks with alarm--misguided, in large measure--on the $39-billion excess of U.S.