KKR in Deal to Acquire LCY Chemical An investment group led by the private equity firm KKR & Co. announced a deal to acquire a majority share in Taipei-based LCY Chemical Corp for US$1.56 billion. The investors also include LCY employees and members of the founding family. If approved by regulators in both Taiwan and…
Delays for Two Key Infrastructure Projects Despite strong support from the Ministry of Economic Affairs, an environmental impact assessment (EIA) committee of the Environmental Protection Administration in early July rejected plans by the state-run CPC Corp. Taiwan to build Taiwan’s third liquefied natural gas receiving terminal project at Datan in Taoyuan’s Guanyin District. Increased reliance…
Higher GDP Growth Seen on Rising Exports The Taiwan economy is expected to experience higher growth this year due to improved levels of demand on world markets. The Yuanta-Polaris Research Institute, a Taipei economic think tank, raised its 2018 GDP growth forecast from 2.4% to 2.55% based on increased export activity. The government’s Directorate General…
Former KMT Chairman Lien Chan Visits China Former Kuomintang chairman Lien Chan led a party delegation to Beijing in mid-July for a meeting with General Secretary of the Chinese Communist Party Xi Jinping commemorated the 70th anniversary of the end of World War II. Lien, who served as Vice President during the Lee Teng-hui administration,…
Candidates Set for Year-end Elections With only six months to go before the 2018 9-in-1 elections on November 24, candidates are solidifying their candidacies and campaigns. At stake are mayoral contests in all six of Taiwan’s special administrative districts, as well as 16 county mayoral races and hundreds of municipal councilor seats. The Democratic Progressive…
Golden Anniversary For Taiwan, Swazi Ties President Tsai Ing-wen marked Taiwan’s 50 years of diplomatic ties with one of its oldest allies, Swaziland, during her visit to the African nation. In a speech, Tsai declared that the two sides were “sworn brothers” and would always look out for each other. Tsai arrived in Swaziland April…
Momentum Continues On Export Growth The Taiwan economy continued its upward momentum through the first quarter of 2018 as exports maintained their double digit gains, unemployment stayed low, and consumer and business confidence remained high. On the back of International Monetary Fund (IMF) forecasts of rising global trade and growth, analysts expect Taiwan’s trade impetus to…
Exports Experience a Slight Weakening Taiwan’s export streak finally came to an end in February after 16 straight months of gains when exports declined by a slight of 1.2% for the month, mostly attributed to Chinese New Year holiday which this year fell on February 15-20. The months of January and February are generally considered…
Michelin Guide Comes to Taipei The Michelin Co. formally launched its Michelin Guide Taipei on March 14, awarding stars to 20 restaurants. Only one, the Cantonese restaurant Le Palais in the Palais de Chine Hotel, received the coveted three-stars rating, signifying “exceptional cuisine worth a journey,” according to the Michelin standard. Two restaurants – Japanese…
U.S. Steel Tariffs Hit Taiwan Taiwan sent a delegation to the United States on March 18 with the goal of negotiating an exemption to the steep tariff hike on imported steel and aluminum imposed by President Donald Trump. On March 8, Trump signed an order imposing a 25% tariff on imported steel and 10% on aluminum….
