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Taiwan

Taiwanese companies hit by US-China trade war lured back home by Taipei

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One of Taiwan’s biggest paper manufacturers, which for the past 22 years has done most of its business on the Chinese mainland, is planning to shift the bulk of its operations back home as the trade war between the world’s two largest economies bites into its profits. Long Chen Paper Co, which produces industrial paper, paperboard and corrugated container boxes, ... Read More »

3 additional Taiwan firms pledge to invest NT$37.6 billion at home

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TAIPEI: Three additional Taiwanese companies operating overseas have pledged to invest a total of NT$37.6 billion (US$1.20 billion) in Taiwan to avoid the possible impact from rising trade tensions between the United States and China, according to the Ministry of Economic Affairs (MOEA). Investments pledged by the three companies, including LED back light module supplier Shian Yih Electronic Industry Co., ... Read More »

Taiwanese township shocked by order for 600 million socks as Trump tariffs kick in

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TAIPEI: A small township in western Taiwan has suddenly found itself flooded with an order for 600 million socks after U.S. President Trump announced that he was raising tariffs on a broad spectrum of consumer products from China earlier this month. On May 14, Trump announced that he would raise tariffs on US$200 billion worth of goods made in China ... Read More »

Taiwan emerges as the largest beef export market for Japan in 2018

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TAIPEI: Taiwan has emerged as the biggest beef export market for Japan in 2018, less than a year following the island’s resumption of beef imports from the Northeast Asian country. Japan exported a total of 3,799 tons of beef last year, hitting a record high with 28 percent year-on-year growth, the Nikkei reports. Taiwan joined Hong Kong, Singapore, and a ... Read More »

Taiwan’s economic growth rate claws to top of Asia’s 4 tigers

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TAIPEI: Financial information firm IHS Markit predicts that Taiwan’s economic growth rate will lead the pack among Asia’s four tigers, for the first time in more than 10 years. According to London-based IHS Markit, Taiwan’s economic growth rate this year will be 2 percent. This economic growth rate will put Taiwan on a path to surpass its rival Asian tigers, ... Read More »

Taiwan’s Tsai moots major shift in trade war

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Taiwanese President Tsai Ing-wen has indicated in a recent speech that her government will boost efforts to cut the island’s economic reliance on China, saying the days when “Taiwanese firms make goods in China for export to the US” are over. Tsai revealed a plan to push for a bilateral trade agreement with the US that would adhere to the ... Read More »

2019 Taipei 5G Summit opens May 30

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TAIPEI: The 2019 Taipei 5G Summit will take place at the Taipei International Convention Center (TICC) May 30, bringing together experts from around the world to share their insights on the development of 5G technologies, and providing a platform for businesses to network. In cooperation with COMPUTEX 2019, the theme of the summit is “Readiness for 5G – Technology, Service ... Read More »

LINE to invest additional US$100 million in Taiwan

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LINE Corp., the mobile messaging and communication services supplier, said Wednesday that it will invest an additional US$100 million in Taiwan after an earlier investment in the local Internet-only banking business. In a news conference, Jungho Shin, LINE’s co-chief executive officer, said that as LINE moves toward its next stage of growth, Taiwan is one of the markets the company ... Read More »

60% of foreigners working Taiwan’s tech industry are Filipinos

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TAIPEI: At over 60 percent, Filipino workers comprise the majority of foreign workers in Taiwan’s electronics and technology industry, and many Taiwanese companies are shifting production from China to the Philippines. During a recent symposium in the Philippines, Kristy Hsu, program director of the Chung-hua Institution for Economic Research’s (CIER’s) Taiwan ASEAN Studies Center, said that Filipinos are now the ... Read More »

Taiwan uses US-China trade war to bring 40 companies back home

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TAIPEI: Taiwan has been making the most of the U.S.-China trade war by successfully luring back 40 Taiwanese companies and is on a pace to quickly surpass its year-end a goal of 50 firms and NT$250 billion (US$8 billion). As the tariff war kicked in last year, many Taiwanese companies found themselves caught in the crossfire with their costs at ... Read More »

Taiwanese men arrested for alleged drug trafficking

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A 38-year-old man from Taiwan, scheduled to board a flight to his home country, was arrested at Don Mueang International Airport with 7.2 kilograms of heroin. The drugs were concealed in 18 tins of prickly heat powder. The suspect Chern Kwan Lin claimed innocence, saying he was paid Bt30,000 to take the powder back to Taiwan. Police say the arrest ... Read More »

‘Taiwan March export orders seen dropping for fifth straight month’

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Taiwan’s export orders likely declined for a fifth month in March but at a slower pace than in the previous month, a Reuters poll showed, as a prolonged downturn in global tech demand hurts manufacturers in the trade-reliant economy. The median forecast from the poll of 14 economists was for March export orders to drop 5.45 percent from a year ... Read More »

Top execs at Taiwan’s Apple Sidra axed amid fraud charges

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TAIPEI The chairman and general director of Oceanic Beverage Co., Inc. (大西洋飲料), the maker of Apple Sidra (蘋果西打), were both fired by the board of directors following fines for food safety violations and allegations of financial mismanagement. At 10 a.m. on Sunday (April 14), the company’s board of directors opted to sack general manager Sun Yu-ying (孫幼英) and chairman Chiang ... Read More »

IMF forecasts Taiwan GDP growth at 2.5% for 2019, 2020

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The International Monetary Fund (IMF) forecast that Taiwan’s gross domestic product (GDP) will grow 2.5 percent in 2019 and 2020 in its latest World Economic Outlook report released. The IMF forecast for 2019 represents an increase from the 2 percent made in April 2018 and 2.4 percent in October 2018. According to the IMF, consumer prices in Taiwan will grow ... Read More »

Taiwan ranked 18th-largest exporter of goods in 2018

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Taiwan’s exports accounted for 1.7 percent of the entire globe’s exports in 2018, making the nation the 18th- largest exporter, the same place it held the previous year, according to global commodity statistics released by the World Trade Organization. According to the Ministry of Finance (MOF), the amount of Taiwan’s exports last year hit a record high of US$335.9 billion, ... Read More »

Taiwan plans to start mass-producing trainer aircraft in 2023

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TAIPEI: Taiwan’s Ministry of National Defense (MND) has presented to the country’s legislature an important schedule regarding the manufacture of new supersonic trainer aircraft, Liberty Times reported on Wednesday. According to the document, the MND plans on rolling out XAT-5, the prototype of XT-5 “Blue Magpie” trainer in September, conducting its maiden flight in June next year, starting small scale ... Read More »

McDonald’s across Taiwan now accept e-payment cards

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TAIPEI: McDonald’s on Tuesday announced that most of its restaurants across Taiwan can now accept the four main electronic payment cards, and EasyCard is offering free large French fries to those who hold a receipt from a previous McDonald’s purchase for the next two months. On Tuesday, McDonald’s announced that most of its restaurants in Taiwan since March 15 have ... Read More »

Taiwan’s ban on American beef, pork a trade barrier: US report

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TAIPEI: Taiwan’s restrictions on imports of pork and beef from the United States remain a major barrier to trade between the two sides, according to a recently released U.S. report that highlights significant foreign barriers to American exports. Taiwan has not followed international standards or a bilateral protocol with the US on the issue of American meat imports, said the ... Read More »

Confidence in Taiwan economy improves in March

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Local confidence in Taiwan’s economy improved for a second consecutive month in March as optimism over a possible resolution of the U.S.-China trade war offset concerns over disappointing economic data. In a survey of its clients conducted by Cathay Financial Holding Co. in the first week of March, 26.7 percent of respondents said they expected the economy to improve over ... Read More »

400 7-Elevens in Taiwan stop running 24 hours

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TAIPEI (Taiwan News) — Huang Jui-tien (黃瑞典), the general manager of the operator of 7-Eleven Taiwan, President Chain Store Corp. (統一超, PCSC), announced on Tuesday (March 19) that 400 of Taiwan 7-Eleven stores no longer operate for 24 hours a day. After news broke that 7-Eleven is considering ending the practice of keeping its stores in Japan open 24 hours, ... Read More »