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…
Cathay Life Insurance won the reverse auction to acquire troubled firms Global Life Insurance Co. and Singfor Life Insurance Co., with a bid of NT$30.3 billion (about US$1 billion) – meaning that is the amount it will receive from the government to take over the two companies. Both of the acquired firms were taken into…
