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….
Google Invests in Taiwan AI Google’s parent company, Alphabet Inc., announced March 31 that it would be making extensive investments into Taiwan’s artificial intelligence (AI) development. The company said it would hire at least 300 AI engineers, cultivate 5,000 talent positions, and train more than 50,000 digital marketing personnel in a year. AI-engineering positions will…
Taiwan Welcomes the Year of the Dog Taiwan celebrated the Chinese New Year on February 15 with warm temperatures exceeding 20 degrees Celsius in the north and as high as 30 degrees Celsius in the south. President Tsai Ing-wen addressed the nation at the start of the holiday, which ran through February 20, first offering…
Indictment Brought In Ching Fu Scandal Four executives at the Ching Fu Shipbuilding Co., including chairman Chen Ching-nan, were indicted by the Kaohsiung District Prosecutor’s Office on February 12 on charges of fraud, breach of trust, and banking law violations. Prosecutors recommended a 30-year prison sentence for the chairman, commutable to a NT$1 billion (US$34…
Positive News to Start The Year of the Dog Taiwan welcomed the new year with continuing good news on the economic front, with major metrics pointing to continued growth and prosperity. The TAIEX weighted index of stock prices closed February 27 down slightly but still maintaining its high average at 10,815 points. Unemployment continued its…
POSITIVE END TO 2017 Taiwan and the world finished 2017 on a good note – with the expectation of more good news in 2018. The Taiwan economy ended the year by recording its strongest growth level in years, on the back of record-high exports. Momentum is likely to continue into 2019, with leading indicators all…
LABOR LAW AMENDED During an 18-hour overnight session, the Legislative Yuan approved amendments to the highly controversial Labor Standards Act that the government promises will provide greater flexibility for both workers and employers but which labor activists argue will lead to abuse of labor rights. The amendments include changes to the overtime calculation, with overtime…
THE ECONOMIC NEWS IS MOSTLY POSITIVE On November 17 economist Chen Shin-hui, assistant research fellow at the Center for Economic Forecasting, part of the Chung-Hua Institution for Economic Research (CIER), offered a lively presentation and discussion on the state of Taiwan’s and the world’s economy. As the compiler of CIER’s Purchasing Managers’ Index (PMI), a monthly…
