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Taiwan, Canada sign Customs cooperation agreement

TAIPEI: Taiwan and Canada concluded a customs cooperation agreement in Taipei City, a move widely seen as taking bilateral relations to new heights, according to the Ministry of Foreign Affairs here the other day. Signed by David Ta-wei Lee, ROC representative to Canada, and Scott Fraser, executive director of the Canadian Trade Office in Taipei, the pact expands information exchanges ... Read More »

Taiwan police bust human smuggling ring, rescue 35 Filipinas

TAIPEI: Taiwan police have busted a human smuggling ring and rescued 35 Filipinas who were forced into the adult trade, prosecutors said here the other day. The women were rescued after investigators raided two pubs in southern Taiwan and arrested the suspected ring leader, a man identified only by his family name Hung, the Tainan district prosecutors’ office said. Hung ... Read More »

Taiwan court sentences 15 years and 8 months jail to French for drug smuggling

TAIPEI: A Frenchman was sentenced to 15 years and eight months in prison by the Taipei District Court for trafficking 1.3 kilograms of heroin into Taiwan here the other day. The French national, who has been identified by Taiwanese authorities as Eric Jacobs, this January attempted to carry the heroin from Thailand to Taiwan and reportedly handed the drug to ... Read More »

Taiwan Customs nabbed two South Koreans for smuggle 4kg heroin

TAIPEI: Two South Koreans were arrested at Taichung Airport in central Taiwan on charges of smuggling drugs and possessing 4 kilograms of heroin. According to an initial Customs investigation, the woman, identified by Customs only by her surname Shin and her male companion, named Choi, who arrived in Taiwan from Thailand via a transit flight from Hong Kong, were intending ... Read More »

Taiwanese banks’ Chinese operations see profit hike 88% to NT$5.2 billion in 2014

TAIPEI: Taiwanese banks saw net profits from their Chinese operations climb 88 percent last year to NT$5.2 billion (US$164 million) from the previous year, indicating strong funding demand from Taiwan-based companies operating in China, the Financial Supervisory Commission (FSC) said here the other day. A total of 13 Taiwanese banks had 18 branches, eight sub-branches and two subsidiaries in China ... Read More »

Smugglers escaped from Taiwanese Customs custody

TAIPEI: Two suspects that allegedly carried bricks of heroin into Taiwan escaped from customs inspection custody upon arrival at the Taiwan Taoyuan International Airport on the night of Feb 23, the Aviation Police Bureau (APB) said here the other day. The APB said the suspects, a man and a woman, took a flight from Bangkok to Taipei on Feb 23. ... Read More »

Taiwan Customs seizes 2.5kg bootleg heroin, smuggler nabbed

TAIPEI: The Aviation Police Bureau and Taipei Customs announced here the other day that they have intercepted nearly 2.5 kilograms of heroin in luggage belonging to a suspect entering Taiwan from Thailand. The suspect, a Taiwanese national surnamed Wu, admitted that he had attempted to smuggle the schedule-one controlled substance into Taiwan via Taiwan Taoyuan International Airport in exchange for ... Read More »

Taiwan, US sign MoU to eradicate human smuggling

TAIPEI: A memorandum of understanding to combat human smuggling and trafficking was signed here the other day in Washington by the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office (TECRO) in the US. “The goal is to prevent and reduce human smuggling and trafficking through the exchange of relevant information and coordination of efforts,” a ... Read More »

Two Taiwanese nabbed in Australia for 12kg meth smuggling

TAIPEI: Two men from Taiwan face life in an Australian prison after they were arrested for allegedly trying to smuggle 12 kg of methamphetamine hidden inside machinery from China, officials said here the other day. Customs officers found the drugs inside a shipment of “Torque Testers” which arrived in Sydney, Federal police then substituted the drugs with another substance and ... Read More »

Taiwan exports swell by 3.4% to $25.12 in January

TAIPEI: Taiwan’s exports rose in January from the same month a year earlier on gains in overseas shipments of electronic products, precision instruments and machinery, according to customs statistics released by the Ministry of Finance here the other day. The country had US$25.12 billion in exports in January, 3.4 percent higher than in January 2014 but 2.1 percent lower than ... Read More »

$1.58b profit in 2014: Taiwan’s Cathay Financial to recruit 7,000 employees this year

TAIPEI: Cathay Financial Holding Co. Ltd. plans to recruit an estimated 7,000 new employees this year to expand business at home and overseas. At a press conference earlier this month, the nation’s largest financial services provider also said it will offer higher annual bonuses for employees this year after earning record profits of NT$49.8 billion (US$1.58 billion) and earnings per ... Read More »

Taiwan Power Co calls for bids to send 1,200 used nuclear fuel rods overseas

TAIPEI: Taiwan Power Co made a public call for bids to transport 1,200 used nuclear fuel rods abroad here the other day. The state-run utility has budgeted NT$11.25 billion (US$355.67 million) for the project. The operation is to be the first time Taipower has transferred such a significant amount of spent fuel rods outside of the nation, it said. The ... Read More »

Taiwan science parks earn record $73.65 billion revenue in 2014

TAIPEI: Taiwan’s three science parks reported record revenues of NT$2.32 trillion (US$73.65 billion) in 2014, up 6.28 percent year on year, according to the Ministry of Science and Technology here the other day. Hsinchu Science Park in northern Taiwan led the way at NT$1.16 trillion, a rise of 4.57 percent; Southern Taiwan Science Park in Tainan City came second with ... Read More »

DGBAS forecasts 3.78% economic growth of Taiwan in 2015

TAIPEI: Taiwan’s government announced here the other day that its economic growth forecast for this year to 3.78 percent, amid expectations that lower energy costs would encourage companies and consumers to spend more. That is up from its forecast of 3.5 percent growth in November and represents the fastest pace of expansion in three years, the Directorate-General of Budget, Accounting ... Read More »

Taiwan imposes 30% property tax on foreigners

TAIPEI: Taiwan’s Ministry of Finance announced a proposal to consolidate housing and property taxes here the other day to prevent foreign speculation on the property market. Foreign nationals and corporations buying real estate in Taiwan will have to pay a single tax rate of 30%, higher than the 17% imposed on locals. Premier Mao Chi-kuo is said to have approved ... Read More »

Taiwan collects record US$61 billion in tax revenue in 2014

TAIPEI: Taiwan collected NT$1.95 trillion (US$61.02 billion) in tax revenues in 2014, the highest ever in the country’s history, according to figures released by the country’s Ministry of Finance here the other day. Revenues from eight types of taxes hit new highs, including for individual income taxes (NT$408.3 billion), NT$322.6 billion (US$10.1 billion) from sales taxes and NT$172.2 billion (US$5.4 ... Read More »

South Korea Customs seizes illicit 60.75kg gold, arrests 9 Taiwanese smugglers

TAIPI: South Korea Customs authorities are pleased to announce that they have cracked a gold smuggling ring. Police have issued warrants for the arrest of the alleged mastermind of the crime, a 47-year-old man going by the name of Zou, along with eight accomplices. According to reports, potential asses/mules were found in Taiwan and enticed by offers of a free ... Read More »

Taiwan exports increase by 3.4pc to $25.12 billion

TAIPEI: Initial results show that exports picked up by 3.4 percent to $25.12 billion (NT$795.87 billion) last month from a year earlier as demand for electronic devices remained solid — more than offsetting the negative impact of falling crude prices on mineral and chemical shipments, the Ministry of Finance said in a report released here the other day. However, the ... Read More »

Taiwan sets $11 billion in foreign investments target in 2015

TAIPEI: The Ministry of Economic Affairs has set a goal of attracting US$11 billion in foreign investments in 2015, an increase of nearly 2 percent from last year, as it gears up to send delegations overseas to encourage foreign companies and individuals to invest in Taiwan. The MOEA said that the 2015 goal in foreign direct investments (FDI) will be ... Read More »

Taiwan BOI busts smuggling ring, seizes 118kg meth

TAIPEI: Taiwan Bureau of Investigation announced here the other day that it has busted a smuggling ring which has imported an amount of methamphetamine rarely seen in recent years. The bureau said it had seized a total of 118 kilograms of the drug, and arrested the main suspect, surnamed Shen, who was later turned over to New Taipei prosecutors. The ... Read More »