Apple Pay Launches Service in Taiwan Apple Pay became available to users in Taiwan as of 7 a.m. on March 29, with seven local banks coming forward to support the online payment app and a number of businesses leaping to capitalize on the system. The payment app allows consumers with an iPhone 6 or more…
Despite regulatory travails, Alibaba’s C2C e-commerce platform is steadily finding a niche with young, bargain-hunting shoppers. When she wants to shop for clothes, Carrie Chen picks up her smartphone and clicks on the Taobao app. The Chinese e-commerce portal – which is owned and operated by e-commerce giant Alibaba – lists hundreds of thousands of…
Uber is Over in Taiwan, at Least for Now Uber announced that it was suspending operations in Taiwan effective February 10 in an effort to “reset” discussions with the government over the U.S.-based ride-hailing company’s operational status. The Taiwan government insists that Uber register as a transportation company and follow relevant regulations, but Uber regards…
Nan Shan takes over Chaoyang Life Insurance Nan Shan Life Insurance was the victor in the Taiwan Insurance Guaranty Fund (TIGF) reverse auction for Chaoyang Life Insurance Co. on January 16, accepting the bailout offer of NT$200 million (US$6.3 million) for taking over Chaoyang’s assets and debts. The deal obligates Nan Shan to honor the…
State Department official brings message of entrepreneurship and innovation. The U.S. State Department’s Acting Representative for Global Partnerships, Thomas Debass, took part in a series of programs during a visit to Taiwan in mid-November in connection with Global Entrepreneurship Week. In line with Taiwan’s objective of developing an “Asian Silicon Valley” to promote innovative industries,…
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,…
Taiwan has found it hard to move up further in the annual Doing Business report. Each year in late October, the World Bank releases the results of its Doing Business survey that assesses, country by country, the ease or difficulty for private enterprises of conducting business. In the newly issued 2017 report, Taiwan (or “Taiwan,…
Tourism sector protests falling China arrivals Hit hard by plunging visitor arrivals from China, members of Taiwan’s tourist industry staged a demonstration September 13. Tourist arrivals from China have fallen some 22% since Tsai Ing-wen of the independence-leaning Democratic Progressive Party (DPP) was elected to the presidency, and Beijing has apparently responded to her refusal to…
Taiwan Super Rich now Fewer, and Poorer The economic slowdown in China is hitting Taiwan’s wealthiest where it hurts: their net worth. According to the Forbes list of 1,810 billionaires worldwide, Tsai Eng-meng, chairman of WantWant foods conglomerate, and Hon Hai Precision’s Terry Gou retained their positions as Taiwan’s first and second wealthiest, respectively. But…
TSMC China Plant Gets Green Light Taiwan’s Investment Commission on February 3 approved plans by Taiwan Semiconductor Manufacturing Co. (TSMC) to build a US$3-billion 12-inch wafer plant in Nanjing, the largest investment by a Taiwanese chipmaker since the government eased restrictions on wholly owned semiconductor production facilities in China last August. The move by the…
