Tuesday , June 19 2018
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Taiwan

US unveils de facto embassy in Taiwan amid cross-strait tensions

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[TAIPEI] The United States will unveil a new US$250 million representative office in Taiwan’s capital on Tuesday, a de facto embassy that underscores Washington’s strategic ties with the democratic, self-ruled island as it faces escalating tensions with China. Washington cut diplomatic ties with Taipei in 1979 but remains the island’s strongest ally and sole foreign arms supplier. It opened the ... Read More »

Taiwan to cooperate with EU on 5G

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TAIPEI: The Ministry of Economic Affairs said Taiwan had reached an agreement with the European Union to help with the development of 5G wireless systems. This year is “Year One” for the fifth generation of the mobile networks, while next year will see the commercial operation of the new systems, Economics Minister Shen Jong-chin (沈榮津) told the 5th Taipei 5G ... Read More »

3 Taiwan telecom companies fined by NCC for NT$499 4G deal mania

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TAIPEI: After the dust has started to settle from the pandemonium of the NT$499 (US$16) 4G package deal that was being offered by Taiwanese telecom companies earlier this month, the National Communications Commission (NCC) yesterday (May 23) announced that it would levy fines on three telecom firms for the chaos the promotions caused. At a press conference yesterday, the NCC ... Read More »

Taiwan to introduce Cryptocurrency regulations to curb money laundering

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TAIPEI: Taiwan’s government is set to introduce a new regulatory framework for cryptocurrencies later this year. The move is set to prevent money laundering, and won’t seemingly be the start of a clampdown, according to local news outlet Asia Times. Qiu Taisan, the country’s Justice Minister, called for the regulations to be in place by November this year, before the Asia ... Read More »

Why Taiwan must focus on developing a balanced energy supply

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TAIPEI: Taiwan’s energy supply is in a transitional phase at the moment as the government attempts to shift supplies away from coal-fired power stations and nuclear power and towards more green energy sources. It is an admirable goal and also an extremely ambitious one. As of 2014, just 1.7 percent of Taiwan’s total energy consumption came from renewable sources, with ... Read More »

Taiwan’s Ta Chen Stainless to invest US$1 billion in America

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TAIPEI (CNA) – Taiwan-based Ta Chen Stainless Pipe Co., the largest stainless steel distributor in the United States, has decided to join forces with its affiliate to invest US$1 billion in the U.S. market, eyeing the rising demand for aluminum products there. Ta Chen Stainless will work with affiliate Brighton-Best International (Taiwan) Inc. and pour funds to produce aluminum coils ... Read More »

Singapore deports two gunrunners to Taiwan

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TAIPEI: Two Taiwanese gunrunners suspected of involvement in the smuggling of more than 100 guns last week were deported from Singapore Thursday, one day after their arrest. The two were named as Liao Wei-tsang (廖緯蒼), 30, an important cadre in a faction of the Bamboo Union organized crime gang, and Tseng Meng-han (曾孟瀚), 22, the Apple Daily reported. Before the ... Read More »

Iran’s Trade With Taiwan Tops $1 Billion

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Iran traded $1.10 billion worth of non-oil goods with Taiwan in the last Iranian year (ended March 20, 2018)–8.64% more compared to the year before, making the East Asian country Iran’s 15th biggest trading partner. As per the Islamic Republic of Iran Customs Administration’s data, Iran exported 1.26 million tons of commodities worth $573.09 million to Taiwan last year, posting ... Read More »

Taiwan’s economy burns less brightly tiger peers as smartphone product cycle ends

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TAI PEI: Taiwan is set to lag further behind its three peers — Singapore, Hong Kong and South Korea — economies which underwent rapid industrialisation starting around the 1960s, according to data from the International Monetary Fund. The disparity is clearest when Taiwan is stacked against South Korea, the manufacturing and consumer-electronics powerhouse that’s structurally most similar. Apple’s five largest ... Read More »

Taiwan Giant To Build $9.4B Chemical Complex In Louisiana

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TAIPEI: Taiwan-based petrochemical giant Formosa Petrochemical Corp has selected St. James Parish in Louisiana for a US$9.4 billion chemical manufacturing complex, the office of Louisiana Gov. John Bel Edwards announced. Formosa has purchased a 2,400-acre site along the west bank of the Mississippi River, where the petrochemical group plans to build a chemical complex that would produce ethylene, propylene, ethylene glycol, and ... Read More »

Taiwan MOEA team to probe imports of Chinese steel

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TAI PEI: Economic Affairs has formed a task force to probe anti dumping and anti-subsidy charges against certain steel imports from China. International Trade Commission said in a statement that the commission plans to hold public hearings on Wednesday and Monday next week to collect feedback from concerned parties and gauge public opinion before formally launching the investigation in a ... Read More »

Taiwan to investigate Chinese steel imports

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TAI PEI: Taiwan has launched an investigation into steel imports from China, the Ministry of Finance said. “This is done in a bid for the US to add Taiwan to the exclusion list of the Section 232’s 25% tariff,” a source from a Taiwanese mill said. Chinese products being investigated by Taiwan include certain galvanized and zinc alloy flat-rolled steel ... Read More »

Taiwan’s CPC to suspend bunker customs declarations at Taichung on maintenance

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TAIPEI: Taiwan’s state-owned refiner CPC issued an alert Friday morning saying it would be unable to process bunker fuel customs declarations at Taichung port on Friday afternoon because of a company scheduled internet maintenance. Due to the maintenance, bunker fuel nominations with delivery dates from April 21-23 should be sent to CPC before 12 pm (0400 GMT) Friday, the statement ... Read More »

Taiwan starts trade probe into imports of Chinese steel

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TAI PEI: The anti-dumping probe involves Chinese imports of stainless hot-rolled and cold-rolled carbon steel, according to an April 17 statement by the territory’s Ministry of Finance. Products under the countervailing investigation include galvanized and zinc-alloy flat-rolled steel, carbon steel plate, and stainless cold-rolled steel. Taiwan already has anti-dumping duties levied on these products from China. Local mills in Taiwan ... Read More »

Taiwan launches anti-dumping probe into Chinese steel imports

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TAIPEI: The Ministry of Finance (MOF) has launched anti-dumping and anti-subsidy investigations into steel products sold by China on the local market in a bid to protect the interests of Taiwanese firms. The ministry said Chinese steel products being looked at by the anti-dumping investigation include galvanized steel, carbon steel plates and cold rolled stainless steel, while the anti-subsidy probe ... Read More »

Taiwan fishing vessel detained in Indonesian waters

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TAIPEI: Taiwan registered fishing vessel was stopped and detained by Indonesian authorities on suspicion of incorrect documents while traveling through the Strait of Malacca in the Southeast Asian country’s territorial waters Sunday. The Da Wei No. 13, based in Donggang, Pingtung County, was detained and investigated by Indonesian authorities, the country’s customs officials said. Earlier, a staff member of a ... Read More »

India launches anti-dumping probe into Taiwanese chemical firms

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MUMBAI: India has launched an investigation into chemical firms from Taiwan and three other economies, accusing them of dumping a commonly used type of chemical at unfairly low prices into the Indian market, according to the Ministry of Economic Affairs (MOEA). The MOEA said India’s Ministry of Commerce and Industry kicked off a probe on April 4 into epoxy resin ... Read More »

Taipei Exchange to Hold 2018 Taiwan CEO DAY

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TAIPEI: In cooperation with Capital Securities, will be holding the 2018 Taiwan CEO Day in Hong Kong on April 12 through 13. There will be 17 TPEx Mainboard and Emerging Stock Board listed companies joining the event including Chime Ball Technology Co., Ltd., TTFB Co., Ltd., WIN Semiconductors Corp., Bothhand Enterprise Inc., Macroblock Inc., ATE Energy International Co., Ltd., Intech Biopharm ... Read More »

Taiwan to respect local businesses decisions to invest in China

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TAIPEI: Minister of Economic Affairs Shen Jong-chin  told lawmakers Wednesday that he will respect Taiwanese businesses’ decisions to invest in China, in light of a new pledge from the Chinese president to further open its markets. Speaking at the Boao Forum for Asia Tuesday, Chinese President Xi Jinping  outlined four strategies that China will adopt to open its markets. The ... Read More »

Taiwan’s exports grow in March on strong global demand

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TAIPEI: Taiwan’s exports in March rose 16.7 percent from a year earlier to US$29.99 billion as global demand remained strong, according to data released by the Ministry of Finance (MOF) on Monday. The March export figures returned to positive territory after posting a slight year-on-year decline in February, when there were fewer working days as a result of the six-day ... Read More »