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Taiwan

‘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 »

Taiwan business not impressed by new China investment law

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TAIPEI: Taiwanese business people failed to be impressed by a Chinese promise that its new foreign investment law would also apply to Taiwanese, reports said. Chinese Premier Li Keqiang (李克強) said at a news conference Friday that the law, passed earlier in the day, would also be valid for investors from Hong Kong, Macau and Taiwan, the Central News Agency ... Read More »

Taiwan, Eswatini ink 6-year US$12.7 million MOU on health care improvement

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Taiwan and Eswatini concluded a six-year US$12.7 million memorandum of understanding on health care improvement in the African nation, according to the Ministry of Foreign Affairs March 13. Signed by ROC (Taiwan) Ambassador Jeremy H. S. Liang and Eswatini Minister of Health Lizzy Nkosi in the capital Mbabane, the pact will see Taipei Medical University Hospital cooperate with various partners ... Read More »

Taiwan Central Bank Governor suggests rate pause amid mild inflation outlook

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TAIPEI: Taiwan’s Central Bank Governor Yang Chin-long (楊金龍) suggested at a legislative finance committee on Thursday that interest rates would remain unchanged in the bank’s upcoming rate-setting meeting. The bank’s next rate-setting gathering is scheduled for March 21. The country’s rediscount rate has been kept at 1.375% for 10 straight quarters. Yang cited major forecast reports, which expect the rate ... Read More »

Taiwan Power Corp. to pay GE US$158 million over 4th nuclear plant

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TAIPEI: According to an arbitration ruling, the Taiwan Power Corporation will have to pay General Electric Co. (GE) US$158 million (NT$4.8 billion) over the closure of the fourth nuclear plant, reports said. The projected plant, in the New Taipei City district of Gongliao on Taiwan’s north coast, was mothballed in 2015 before it even started operating following years of protests. ... Read More »

Taiwan’s StarLux Airlines buys 17 Airbus A350 aircraft

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Recently established StarLux Airlines (星宇航空) will sign a contract this month to buy 17 Airbus A350 passenger aircraft, reports said. StarLux was officially founded last year by former EVA Air Chairman Chang Kuo-wei (張國煒) but will not start flying until January next year, with high-income travelers as its target. Under the deal with Airbus, the airline will buy 12 large ... Read More »

Japan startups bring prototyping home from Shenzhen and Taiwan

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Taipei’s export orders down year-on-year for 3rd straight month in January

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Taiwan continued to feel the pinch of weakening global demand, reporting the third consecutive month of year-on-year decline in export orders in January, the Ministry of Economic Affairs (MOEA) said. According to data compiled by the MOEA, export orders placed with Taiwanese firms in January fell 6.0 percent from a year earlier to US$40.49 billion after a 10.5 percent fall ... Read More »

‘Cat burglar’ flees Taiwan with two kittens

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TAIPEI: An alleged cat burglar from Hong Kong reportedly smuggled two stolen persian kittens through Taiwan’s biggest airport by hiding them under her clothes and pretending to be pregnant. The brazen theft prompted the authorities at Taoyuan airport to launch an investigation into how the woman was able to breeze through security without her feline contraband being spotted, Apple Daily ... Read More »

Taiwan COA: Pork sample from Vietnam tests positive for African Swine Fever

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TAIPEI: Taiwan’s Council of Agriculture (COA) has announced that it will hold a press conference, Feb. 15, to announce that the African Swine Fever (ASF) virus has been detected in pork products from the nation of Vietnam. The troubling announcement is a very likely indicator that the ASF epidemic in China has crossed the southern border into Vietnam, which will ... Read More »

Pilots’ strike at China Airlines strands passengers in Taiwan

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SINGAPORE: A shortage of pilots has caused chaos for thousands of passengers during peak travel season in the region, as cockpit crew complaining of overwork extended a strike at Taiwan’s biggest carrier to a fourth day. Flights to Bangkok were among those cancelled. Since the pilots’ union of China Airlines Ltd decided to stay away from work starting early Feb ... Read More »

Bank of Taiwan opens branch office in Manila, Philippines

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TAIPEI: The Bank of Taiwan is continuing its expansion into Southeast Asian markets in accordance with the government’s Southbound Policy, in an effort to increase financial links and capital flow between Taiwan and the region. the Bank of Taiwan held an opening ceremony for a new representative office in Manila, Philippines. The offshore banking office is expected to become a ... Read More »