Friday , November 22 2019
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Taiwan

Taiwan targets China’s fake ‘Made in Taiwan’ products

TAIPEI: Taiwan will impose heavier penalties on businesses that fake the origin of their products, after an amendment to the Foreign Trade Act was passed at the first reading in the Legislative Yuan on Monday. The amendment was pushed through to prevent Chinese exporters sidestepping tariffs introduced by the United States by illegally rerouting orders, reported CNA. Goods from China ... Read More »

Taiwan Futures Exchange awards top 43 futures traders

TAIPEI: The Taiwan Futures Exchange (TAIFEX) awarded 43 financial institutions for their dedication to promoting growth in futures trading, enabling win-win solutions for risk-averse investors and brokers. The Taiwan futures exchange has continued to gain momentum year after year thanks to its ever-expanding product lines and longer trading hours that address the massive hedging needs of Taiwan’s institutional and retail ... Read More »

Japan railway company invests in Taiwan five-star hotel

TAIPEI: Japan’s JR-East railway company is planning to invest in the five-star Hotel Metropolitan Premier Taipei, which is expected to open in 2021. To mark and strengthen the friendship between Japan and Taiwan, East Japan Railway Company (東日本旅客鐵道), also known as JR-East, takes over the Westin Taipei Hotel (台北威斯汀六福皇宮). The Westin closed in 2018 and the new owners plan to ... Read More »

Taiwanese businessman to be bestowed Japan’s second highest medal for foreigners

TAIPEI: Taiwanese businessman Lin Por-fong (林伯豐) will be conferred with Japan’s second most prestigious medal for foreign nationals on Thursday (Nov. 7), making him the first Taiwanese to receive such an honor in Japan’s new Reiwa era. Lin will be granted the Order of the Rising Sun, Gold and Silver Star this Thursday as one of the 136 foreign recipients ... Read More »

CIER raises Taiwan’s economic growth forecast for 2020

TAIPEI: The Chung-Hua Institution of Economic Research (CIER) announced that it has revised Taiwan’s economic growth forecast for the next year. According to the CIER, Taiwan’s growth forecast has been increased by 0.27 percent over the previous forecast issued in July. Currently, the institute anticipates that Taiwan’s economy will grow by 2.34 percent in 2020. CIER Vice President Yeh Chun-hsien ... Read More »

Taiwan’s 2019 GDP growth forecast to hit 2.46%: DGBAS

Balking a forecast from a world body on Taiwan’s economy in 2019 amid a weakening global economy, the government is confident that the domestic economy will expand by more than 2 percent this year. Giving a report at a legislative hearing Wednesday, Budget, Accounting and Statistics (DGBAS) Minister Chu Tzer-ming (朱澤民) said Taiwan’s economy will expand 2.46 percent this year, ... Read More »

Japanese Chamber of Commerce asks Taiwan to end ban on food imports

TAIPEI: The Japanese Chamber of Commerce and Industry in Taipei presented its whitepaper asking Taiwan to end restrictions on the import of Japanese food products. The document included six key suggestions, including the lifting of the ban which was imposed after the 2011 Fukushima nuclear disaster on food products from the region. A referendum calling for the ban to be ... Read More »

Taiwan consumer confidence improves in September

Consumer confidence improved in September as domestic demand grew, in particular for durable goods, at a time when more Taiwanese companies were investing at home to avoid the impact of trade friction between the United States and China, a survey released by National Central University showed Friday. Citing the survey, the university’s Research Center for Taiwan Economic Development said the ... Read More »

Taiwan, Vietnam ink MOU on husbandry cooperation

TAIPEI: Taiwan and Vietnam signed a memorandum of understanding (MOU) to cooperate in the husbandry industry as part of the island nation’s bid to promote exchanges with Southeast Asia. The document was inked at the second forum on the “Genetic Selection on Climate-Resilient Farm Animals” held in Taipei, reported United Daily News. The event saw the participation of industry experts ... Read More »

Taiwanese businesses eye markets in India as China-US trade war takes toll

Taiwan is pitching India as a potential business destination for its tech, car, renewable energy and farm sector firms as Washington’s trade war with Beijing pushes the island’s companies to look for newer markets, two officials said on Friday. More than 10,000 Taiwanese companies, including Apple suppliers Foxconn and Wistron, have massive operations in mainland China, thanks to its tax ... Read More »

Taipei mayor asks government to explain stamp tax abolition

TAIPEI: As the Cabinet decided Thursday (September 12) to abolish the stamp tax, Taipei City Mayor Ko Wen-je (柯文哲) said he could accept the measure if the central government could explain how to replace the NT$4.9 billion (US$158 million) the capital would lose each year. The abolition was designed to simplify the national tax system and was welcomed by business ... Read More »

Taiwanese firm investment pledges may top NT$600 billion in September

The amount of investment in Taiwan pledged by Taiwanese firms is forecast to surpass the NT$600 billion (US$19.11 billion)-mark in September under a program launched at the beginning of this year to encourage Taiwanese companies operating overseas to invest at home, the Ministry of Economic Affairs (MOEA) said Saturday. The MOEA said the increase in investment by Taiwanese investors is ... Read More »

Taiwan charges 13 intelligence and airline officials in cigarette smuggling case

TAIPEI: A total of 13 agents of the National Security Bureau (NSB) and managers at China Airlines (CAL) were charged Friday (August 23) for their part in the smuggling of cigarettes involving President Tsai Ing-wen’s (蔡英文) recent foreign trip. On July 22, the day Tsai returned home from a highly successful trip to the Caribbean with stopovers in the United ... Read More »

Taiwan-India industrial cooperation elevated to an even higher level

The Taipei Economic and Cultural Center in India (TECC) and the India-Taipei Association (ITA) have signed a Memorandum of Understanding (MOU) on Promotion of Industry Collaboration, as part of efforts to elevate Taiwan-India industrial cooperation to an even higher level. The MOU was signed by TECC Representative Ambassador Chung-Kwang Tien and ITA Director Sridharan Madhusudhanan in New Delhi in the ... Read More »

Taiwan hikes Q2 economic growth to 2.41%

TAIPEI: The economy likely grew by 2.41 percent during the second quarter, not by 1.78 percent as originally forecast, the government’s Directorate General of Budget, Accounting and Statistics (DGBAS) said. The surprise surge of the Gross Domestic Product was mainly the result of exports and domestic investment, the Central News Agency reported. Last May, the DGBAS predicted that annual growth ... Read More »

Taiwan’s bananas to be served at Japanese schools

TAIPEI: Taiwan’s bananas will be served at school lunch tables and be available in the supermarkets of eastern Japanese cities starting this November. The Council of Agriculture (COA) signed an agreement on Wednesday (July 24) with the authorities of Kasama, a city northeast of Tokyo, on promoting dining and cultural exchanges between Taiwan and Japan, according to a press statement ... Read More »

14 illegal immigrants from Vietnam nabbed off SW Taiwan coast

TAIPEI: Fourteen Vietnamese on a Taiwanese fishing boat trying to enter Taiwan illegally were intercepted by the country’s Coast Guard off the coast of the southwestern city of Tainan in the early hours of Saturday (July 13), Central News Agency (CNA) reported on Sunday. The Coast Guard’s Pingtung Fleet Branch said that it obtained a tip a few days ago ... Read More »

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

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

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

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 »