NEW YORK: The founder of the world’s biggest chipmaker, Morris Chang, said on Thursday that increasing tensions over technology between the United States and China will slow down the global chip industry.
Chang, who founded Taiwan Semiconductor Manufacturing Co. in the late 1980s, made the remarks at an event hosted by the Asia Society in New York. The company has helped the democratically governed island of Taiwan become the world’s leading producer of advanced chips.
US officials earlier this month enacted another set of export restrictions that clamped down on what chips and chipmaking tools can be exported to China after Huawei Technologies last month showed off a phone with a new domestically manufactured chip.
Chang, 92, said that cutting off China’s chip industry from the rest of the world would affect other players beyond China.
“I think that decoupling will ultimately slow down everybody. Of course, the immediate purpose is to slow China down, and I think it’s doing that,” Chang said.
Chang said that the effects of such decoupling were already becoming clear and that many previous economic conflicts between established and emerging powers had ended in wars.
“It looks like counties are mad at each other, that worries me,” said Chang, who characterizes the geopolitical tension between the US and China as an existing power confronting an emerging power.
“Our only hope is it doesn’t lead to anything even more serious,” Chang said.
He also praised the higher education system in the US, adding his optimism about the country as TMSC invests to build chipmaking facilities in Arizona.
Born and raised in China, Chang built a career in the US, where he become a naturalized citizen in 1962, before being recruited to build the chip industry in Taiwan. He is now regarded as a legendary figure in the industry that’s caught in the middle of the geopolitical tension.
“I really think this country, which is my country, (the) United States, is still the hope of the world, that’s in spite of all the problems we are having,” said Chang.
US-China tensions will slow global chip industry, TSMC founder says
https://arab.news/npy6m
US-China tensions will slow global chip industry, TSMC founder says
- Morris Chang said that cutting off China’s chip industry from the rest of the world would affect other players beyond China
- The US earlier this month enacted another set of export restrictions that clamped down on what chips can be exported to China
Dubai Financial Market reports $288.6m profit for 2025 - up 159%
RIYADH: Dubai Financial Market reported net profit before tax of 1.06 billion dirhams ($288.6 million) in 2025, up 159 percent from a year earlier.
The improved performance was driven by sustained confidence in Dubai’s capital markets and a year of heightened trading activity, with momentum continuing through the fourth quarter.
The results coincided with the exchange marking 25 years since its establishment in 2000, highlighting its evolution into a more globally connected and institutionally active marketplace, according to a report by the Emirates News Agency.
For the full year ending Dec. 31, total consolidated revenues rose to 1.28 billion dirhams, while earnings before interest, tax, depreciation and amortization reached 1.13 billion dirhams, translating into an EBITDA margin of 88 percent.
The results come as Dubai pushes ahead with its D33 agenda to double the emirate’s economy by 2033 and deepen its position as a global financial hub.
The UAE central bank has pointed to solid capital markets momentum and low sovereign risk indicators in 2025, underscoring the confidence backdrop for higher trading activity.
Helal Al-Marri, chairman of DFM, said: “DFM’s performance in 2025 reflects the continued strength of Dubai’s capital markets and the confidence of global investors in the emirate’s economic vision.
“As we mark 25 years since the establishment of DFM, the exchange continues to play a central role within Dubai’s financial ecosystem, supporting transparency, liquidity, and long-term market development in line with the Dubai Economic Agenda D33.”
Fourth-quarter net profit before tax increased to 124.4 million dirhams from 110.6 million dirhams in the same period of 2024, reflecting sustained trading momentum toward year-end.
Market performance remained strong throughout the year, with the DFM General Index rising 17.2 percent and total market capitalization reaching 992 billion dirhams.
Average daily traded value climbed to 692 million dirhams, while total traded value amounted to 174 billion dirhams, marking the highest liquidity levels in more than a decade.
The average daily number of trades rose 31 percent year on year, driven by increased institutional and cross-border activity.
Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “In 2025, DFM continued to build on the progress of recent years, supported by steady trading activity, growing international participation, and ongoing enhancements to our market infrastructure.”
He added: “Our focus throughout the year remained on improving market accessibility, supporting a broad range of investment activity, and ensuring the market continues to operate efficiently for both issuers and investors. As we mark 25 years of DFM, we remain committed to developing the market in line with Dubai’s long-term capital markets ambitions.”
Investor participation broadened further during the year, with 97,394 new participants joining the market, of which 84 percent were foreign.
Foreign investors accounted for 51 percent of total trading value, while institutional investors represented 71 percent of trading activity.
The total investor base reached 1.25 million, reinforcing DFM’s position as a destination for regional and international capital.
Capital-raising activity also expanded DFM’s sectoral footprint.
The exchange hosted Dubai Residential REIT, the region’s first publicly traded residential leasing real estate investment trust, which attracted subscriptions 26 times over and total demand of 56 billion dirhams.
It also saw the secondary public offering of Emirates Integrated Telecommunications Co., alongside the initial public offering of ALEC Holdings, the UAE’s largest construction-sector listing to date, which generated subscriptions of 30 billion dirhams, representing an oversubscription of 21 times.
Innovation and market development remained a focus in 2025, with the launch of a centralized securities lending and borrowing framework and further enhancements to digital platforms, including AI-enabled features on iVestor.
DFM also strengthened its international engagement through global roadshows and partnerships, including a memorandum of understanding with the Taiwan Stock Exchange aimed at supporting cross-border listings and investor outreach.
Looking ahead, the exchange said it remains focused on enhancing liquidity, expanding product offerings, and deepening global connectivity, supported by a strong financial position and a diversified investor base.
