Electriciy act amendments pass The Legislative Yuan in January passed revisions to the Electricity Act liberalizing the power market and mandating the cessation of nuclear power. The amendments stipulate that all nuclear power will cease operation by 2025 and that state-owned monopoly power provider Taiwan Power Co. (Taipower) will be transformed within six to nine years…

Growth & a Trump effect Gordon Sun, director of the Macroeconomics Forecasting Center at the Taiwan Institute of Economic Research (TIER)’s points to the healthier Electronics and Petroleum sectors as boosting the overall economy. Electronics, which accounted for 33.4% of Taiwan’s exports in December, rocketed 30.7% for the month to finish out the year up…

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Tsai visits allies, transits USA Taiwan President Tsai Ing-wen departed on January 6 for a nine-day journey to visit Central American allies, including stopovers in Houston and San Francisco. The trip occurred amid heightened tensions with China over Tsai’s congratulatory phone call to U.S. President-elect Donald Trump.  Tsai’s first stop was a transit in Houston, Texas,…

Ill-Gotten Assets Body Targets KMT HQ The Ill-gotten Assets Settlement Committee under Chairman Wellington Koo announced that the KMT must transfer its shares of Central Investment Co. and its subsidiary Hsinyutai Co. to the government after it was determined that these companies were illegally obtained assets. The Committee acts under legislation that aims to return…

FILE - In this Saturday, Feb. 7, 2015, file photo, a ground mechanic works on the engine area of a TransAsia Airways ATR airplane at the Songshan Airport in Taipei, Taiwan. Taiwanese airline TransAsia has announced it is shutting down following financial losses and two fatal crashes. TransAsia chairman Vincent Lin said Tuesday the airline, which served cities in China, Japan and Southeast Asia, was unable to reverse widening losses or raise additional money. (AP Photo/Wally Santana, File)

TransAsia Airways Ceases Operations Domestic airline TransAsia Airways declared it insolvency on November 22, after years of lackluster sales and revenue losses and two horrific crashes within a seven-month period that killed more than 90 people. The airline’s CEO, Liu Tung-ming, said that the executive team had looked at various options including a sale, restructuring,…

Worries about Trump, as Trade Inches Upward The election of Donald Trump as U.S. president has created anxieties in many countries around the world, as exporting nations worry that Trump’s protectionist leanings will impact global trade. Taiwan is among the most trade-dependent nations in the world, with exports totaling US$280 billion in 2015, equivalent to…

Third Quarter Brings Improved Results As discussed in this issue’s cover story, the Taiwan economy rebounded in the third quarter, registering a growth rate of 2.06% from the same period last year according to preliminary calculations. The improvement was attributed mainly to stronger exports of electronics products, particularly components related to the Apple iPhone 7….

Formosa Workers Protest Shutdown Employees of the Formosa Chemicals and Fiber Corp. (FCFC) staged several demonstrations during October, some of which became violent, to protest potential job losses due to the closure of the company’s plant in Changhua over environmental issues. Changhua County’s Bureau of Environmental Protection denied the extension of operating permits for the…