Domestic ATM Heist At First Bank An international crime ring made up of Eastern European and Russian nationals made off with NT$83 million (equivalent to US$$2.6 million) removed from 34 of the First Commercial Bank’s automatic teller machines around Taiwan on July 9 and 10. The heist was carried out by using malware to make…
Tsai Makes First Overseas Trip President Tsai’s first diplomatic trip since taking office took place in June with visits to Panama and Paraguay, two important Latin American allies for Taiwan. She began her three days in Panama by attending the opening ceremony of the expanded Panama Canal. After meeting with top officials in the country,…
The flat-panel display sector is reeling from the effects of oversupply and anemic demand for consumer electronics. Taiwanese manufacturers of liquid crystal display (LCD) panels had a rough year in 2015 as their profits were pinched by a supply glut and falling consumer electronics sales. The net profit of AU Optronics (AUO), the world’s No….
In the face of persistent pressure from Beijing, foreign aid has helped Taipei bolster formal relations with countries in need. Can that strategy endure? Taiwan has long provided technical and financial assistance to other countries as a means of boosting its limited international profile. Given the relentless efforts of the People’s Republic of China (PRC)…
Following Bloomberg’s relegation of Taiwan to its inglorious Recession Club for 2016, along with economic disappointments Ukraine, Russia, and Brazil, Deputy Minister Kao Shien-quey of the National Development Council sought to reassure the public that “this year should not be so bad.” She said she sees the economy as likely to bottom out in the…
A new association has been established to speak for industry on this vital topic. The ability to protect proprietary technology against misappropriation by competitors is of utmost importance to the kinds of high-tech manufacturing industries critical to Taiwan’s economic success. Both multinational and domestic companies operating here have suffered from attempts by unethical rivals in…
Former Vice President and onetime KMT chairman Lien Chan, a two-time candidate for president (2000 and 2004), sparked controversy by attending a massive military parade in Beijing on September 3, which marked the 70th anniversary of the defeat of Japan to end World War II, or the War of Resistance Against Japanese Aggression as it…
Premier Mao Chi-kuo expressed his disappointment September 21 over China’s unilateral move to change the passport-sized paper documents it issues to Taiwanese traveling to China to plastic cards with embedded chips that can be computer scanned. Mao was quoted as saying he was “extremely dissatisfied” with China’s move, noting that China made the change without…
China’s benchmark Shanghai Composite Index lost 40% of its value from June, with shock waves felt around the world, Taiwan included. The Taiwan Stock Exchange (Taiex) dropped by 7.49% in 90 minutes on August 24, the largest decline in a single session in the history of the exchange. The market closed down 376 points, or…
The key question is how long can Taiwan’s IC industry hold off its Chinese competitors? Taiwan’s semiconductor sector faces a formidable challenge from China as Beijing moves aggressively to build homegrown chip-making giants. The Chinese government announced a US$20 billion fund last year for that task, and says it will invest a total of US$161…
