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Taipei baseball games may halt for Typhoon Usagi
The Chinese Taipei Baseball Association will suspend games if Taipei declares a work and class suspension due to Typhoon Usagi. The 2024 WBSC Premier 12 Group B preliminaries at Taipei Dome saw Taiwan beat South Korea 6-3.
2024/11/14 10:07
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StarLux Airlines to debut on Taiwan stock market Oct. 25
StarLux Airlines will list on Oct. 25, marking a milestone in Taiwan’s stock market. The public stock subscription saw record participation, with intense investor interest.
2024/10/18 14:11
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Starlux Airlines to list shares on Oct. 25 at NT$20 each
Starlux Airlines will list on Oct. 25, offering shares at NT$20. Public subscription runs Oct. 15-17. The airline saw a 65% revenue increase in early 2024.
2024/10/14 13:35
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CWA forecasts showers, thunderstorms across Taiwan
The latest weather update: The Central Weather Administration is warning of showers and thunderstorms across northern and northeastern Taiwan, including Penghu and Matsu, with potential heavy rain in Matsu. Southern Taiwan saw early localized rain. Central and southern areas may experience isolated heavy rain later. Rainfall to ease in the north by evening, shifting south. High waves and tides could cause coastal issues. Despite Tropical Storm Guchol’s departure, a new tropical depression looms but won’t affect Taiwan’s weather.
2024/09/19 11:05
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Taiwan stock market dips amid U.S. stock impact
Taiwan’s stock market opened down 234 points to 22,136 on Aug. 29 due to the impact of U.S. stocks. Early trading saw a drop of over 300 points before the decline narrowed, holding the 22,000 mark. TSMC shares plunged 24 points to 940.
2024/08/29 09:57
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Taiwan sees first wage growth in three years, says DGBAS
Discover the latest on Taiwan’s employment trends: Average earnings for employees saw a slight increase in the first five months of 2024, amidst ongoing wage disparities across industries. Learn more about the sectors leading in high and low wages, and the rising demand for AI skills.
2024/07/11 17:14
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有片/切割燃氣鋼瓶突爆炸 工人「手臂炸飛」失血過多慘死
泰國曼谷(Bangkok)近日發生驚悚意外,一家資源回收店的一個燃氣鋼瓶突然發生爆炸,37歲的緬甸籍工人蘇瓦瑪秋(Saw Waw Ma Thu)左臂當場被炸斷,最後因失血過多死亡,驚悚過程全被監視器拍下。
2024/05/19 11:39
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Singapore’s prime minister steps down after 20 years
Singapore’s Prime Minister Lee Hsien Loong steps down after 20 years, highlighting ongoing US-China tensions that could last decades. During his tenure, Singapore maintained strong relations with both superpowers, engaging in significant projects with China while emphasizing Singapore’s unique identity despite its Chinese-majority population. Lee’s leadership saw Singapore navigate complex geopolitical landscapes, ensuring stability and regional security through constructive international relations.
2024/05/15 17:08
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Optimism in Asian manufacturing despite varied growth rates
The Purchasing Managers’ Index (PMI) for Asian manufacturing in March shows varying recovery rates across the region, with Taiwan’s manufacturing sector on the rise and confidence among Taiwanese businesses reaching a nearly three-year high. Japan also saw improvement, while South Korea and Vietnam experienced contractions. Paul Smith from S&P Global Market Intelligence notes signs of price and supply stabilization supporting a more optimistic outlook for the Asian manufacturing sector.
2024/04/01 18:23
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Taiwan donates precious cultural relics to China
The "Taiwan Chinese Humanistic Buddhism Association Cultural Relics Donation Ceremony" in Beijing saw Fo Guang Shan donate 30 Song and Ming Dynasty artifacts to China’s National Cultural Heritage Administration. Taiwan Affairs Office Director Song Tao emphasized cross-strait cultural exchanges and joint protection of Chinese civilization’s heritage.
2024/03/26 16:20
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Ferrari’s sales soar in Taiwan amid chip boom
Ferrari’s sales in Taiwan have surged in recent years, driven by the chip boom and global supply chain shifts. The luxury carmaker’s profits hit a record high, with Taiwan outpacing mainland China and Hong Kong in supercar sales growth. Despite Europe and the US being primary markets, Taiwan saw a significant rise in Ferrari sales, capturing 40% of the local two-door supercar market.
2024/03/25 15:10
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China’s Premier sets economic, diplomatic goals at NPC
The 14th National People’s Congress in Beijing saw Premier Li Qiang deliver his first government work report, emphasizing the "One China" principle and opposing "Taiwan independence." The report highlighted progress in military and national defense construction, with no press conference held this year. Plans include boosting employment opportunities and achieving 5% GDP growth. Last year, China’s economy showed recovery with a 5.2% GDP increase.
2024/03/05 14:47
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Taiwan’s exports hit top-three record despite 2023 dip
Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.
2024/02/15 10:49
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Taiwan dominates Vietnamese oyster market with 77% share
Vietnam’s oyster exports experienced a substantial increase of 56% in 2023, surpassing US$14 million in value. Taiwan played a significant role in this growth, accounting for over 77% of Vietnamese oyster exports, marking a 26% increase compared to the previous year. The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that the export value of Vietnamese shellfish products, including oysters, clams, and snails, reached US$127 million in 2023, showing a decline of 12% compared to the previous year. Among the shellfish exports, clams accounted for 62%, snails for 12%, and oysters for 11% of the total. While the export of Vietnamese clams and snails experienced decreases, oyster exports saw a remarkable surge, with Taiwan alone contributing to more than three-quarters of this growth, amounting to almost US$11 million. Other significant markets for Vietnamese oysters include Laos, Cambodia, and Japan. Clams remain Vietnam’s most crucial shellfish export, with an export value of nearly US$79 million in 2023, showing a 17% decrease from the previous year. This decline can be attributed to a significant reduction in imports by key markets such as Spain and Italy, which decreased by 15% and 36% respectively.
2024/02/05 12:47
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EVA Air stocks soar after strike-averting pilot agreement
EVA Air’s shares rose over 5% in early trading after reaching an agreement with the Taoyuan Union of Pilots (TUP), ensuring no strikes during Lunar New Year. Lion Travel, Phoenix Tours, Richmond Tours, Life Tour, and China Airlines also saw a 2% increase in share prices. The labor agreement includes a monthly salary increase of NT$13,500, increased allowances, no direct hiring of foreign pilots, and no disputes on these points until May 31, 2026. The agreement is seen as a compromise to protect passenger rights. EVA Air did not comment on the impact on future profitability.
2024/01/29 15:58
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Global young minds unite in Taiwan Int’l Science Fair
The 22nd annual Taiwan International Science Fair opened at the National Taiwan Science Education Center, featuring 630 teachers and students from 27 countries presenting 211 top projects. The fair focuses on international exchange and sharing, with extended event duration to accommodate foreign participants. Activities include expert talks, workshops, a science tour, and a cultural night. Minister of Education Pan Wen-chung praised Taiwan’s young scientists and highlighted the fair’s growing influence as one of Asia’s top science fairs. The event saw a record number of participating nations, demonstrating the ministry’s mission to educate students globally.
2024/01/29 14:37
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Evergreen, Yang Ming hold off to resume Red Sea route
Taiwanese shipping companies Evergreen Marine Corp. and Yang Ming Marine Transport Corp. have chosen not to resume their Red Sea route following Maersk’s decision to do so. Maersk reinstated the route due to the "Red Sea crisis" caused by increased violence from Yemen’s Houthi rebels. The deployment of the multinational naval task forces under the U.S.-led Operation Prosperity Guardian (OPG) has allowed maritime trade to pass through the Red Sea/Gulf of Aden and resume using the Suez Canal. However, Maersk warns that the overall risk in the region has not been eliminated. The decision has led to concerns about container prices and resulted in a decline in Evergreen and Yang Ming’s stock prices. Freight rates for European and American shipping liners saw a significant increase after Maersk’s announcement.
2023/12/26 18:31
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Taiwan ranks second in Airbnb’s global search trends
Taiwan has been identified as one of the key search terms by international travelers on Airbnb’s platform, according to the company’s 2024 tourism trends report. Taiwan’s search growth rate was second globally, just behind Japan. Airbnb expects 2024 to be the year when international travelers embark on world tours. From the first quarter to the third quarter of 2024, search volume on Airbnb increased significantly in 10 countries and regions, with Japan topping the list. Other than Taiwan and Japan, countries and regions such as Albania, Singapore, Finland, the United Arab Emirates, Curaçao, Aruba, Thailand, and Guatemala also saw a rise in interest from Airbnb users.
2023/12/26 16:58
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Taiwan leads Asian stocks as foreign funds return
Foreign investors are showing renewed interest in Asian stocks, particularly in Taiwan, according to a report released on December 25. In the week of December 18 to 22, foreign funds flowed back into Asian stocks, with the Taiwan Stock Exchange attracting NT$643 million. South Korea also saw an influx of NT$602 million. South Korean stocks performed the best, increasing by 1.4%, followed closely by Thailand with a 1.01% increase. Indonesia, the Philippines, and Vietnam also experienced positive growth. However, Taiwan’s stocks unexpectedly fell by 0.44%, despite being favored by foreign investors. India’s stock market also dropped by 0.53% for the week. In terms of overall performance in 2023, Taiwan’s stocks related to the AI supply chain surged 24.47%, surpassing the gains made by India (16.87%) and South Korea (16.24%). Looking ahead, PGIM noted that Taiwan’s industry has already hit bottom, with November’s export orders totaling US$50.63 billion, driven by emerging technologies such as high-performance computing and artificial intelligence.
2023/12/26 13:54
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Taiwan sees rise in unpaid leave figures, now totals 9,935
The Ministry of Labor in Taiwan has reported an increase of 359 employees on unpaid leave since December 18, bringing the total to 9,935. The rise is primarily attributed to the manufacturing sector, which has been affected by a decline in orders. Notably, a sports equipment manufacturing company saw a significant increase of around 170 unpaid leave cases, while the Hsinchu Science Park, known for its semiconductor component manufacturers, reported about 50 workers on unpaid leave. A total of 382 businesses have reduced working hours, impacting 9,935 workers. In the Hsinchu Science Park alone, a semiconductor component manufacturer with a staff of over 600 has implemented reduced shifts for 50 workers. Other industries, such as support services, wholesale, and retail, have experienced relatively minor changes during this period.
2023/12/25 19:21
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November export orders mark 1% YoY growth after decline
Taiwan’s export orders in November reached US$50.6 billion, showing a 1% year-on-year growth after 14 consecutive months of decline, according to the Ministry of Economic Affairs’ Department of Statistics. However, export orders decreased by US$2.24 billion, or 4.2%, from October, with a seasonal-adjusted decrease of 5.4%. Notably, information and communication equipment orders increased by 10% annually to reach US$16.2 billion, ending nine months of negative growth. Electronic product orders also saw a 3.5% annual increase, amounting to US$17.8 billion and ending a 12-month downturn. Despite these positive developments, the overall export orders from January to November showed a decrease of US$97.38 billion, or 15.8%, compared to the previous year.
2023/12/21 15:00
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DPP, KMT, TPP secure ballot numbers in election draw
The Kuomintang (KMT) and Taiwan People’s Party (TPP) sent their lead nominees, Han Kuo-yu and Huang Shan-shan, respectively, to draw lots for the party vote ballot order ahead of Taiwan’s 2024 legislative elections. Both candidates are seen as prominent contenders for Speaker and Deputy Speaker positions in the Legislative Yuan. The KMT aims to secure at least 12 seats, while the TPP hopes to obtain at least 10 seats. The Democratic Progressive Party (DPP) seeks to surpass its previous election result of 13 seats. In the draw, the DPP received ballot number 6, the New Power Party (NPP) got number 8, the KMT drew number 9, and the TPP was assigned number 12. The event saw moments of excitement, prompting a reminder to maintain order.
2023/12/20 20:50
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Taiwan’s new southbound investment tops China’s in 2023
Taiwan’s investments in New Southbound countries in the first 11 months of 2023 have surpassed investments in Mainland China, according to the Ministry of Economic Affairs (MOEA). Investments in the New Southbound countries reached US$5.13 billion, a 7.26% year-on-year increase, outstripping investments in Mainland China, which stood at US$2.96 billion. This trend is driven by the supply chain diversification, accelerated by the U.S.-China trade war and major manufacturers’ strategies to decentralize operations. Investments in New Southbound countries now account for around 20% of Taiwan’s total overseas investments, whereas China accounts for approximately 11.5%. From January to November 2023, there were 2,102 approved cases of overseas-focused investments by Taiwanese and foreign entities, a decrease of 8.89% compared to last year. The amount invested reached about US$10.8 billion (approximately NT$323.7 billion), the second-highest for the period in the last 15 years but still representing a 13.04% decline from the previous year. Investments from New Southbound countries into Taiwan saw 609 approved cases within the same timeframe, an annual increase of 41.30%. The investment totaled approximately US$2.5 billion (about NT$75.7 billion), up 25.20% from the previous year, with the most significant inflows originating from Singapore, Thailand, and Malaysia. On a broader scale, the 504 approved cases of outbound investments from Taiwan marked a 2.44% annual increase, surging by 145.61% financially to roughly US$22.8 billion (approximately NT$684.4 billion). Investments in New Southbound countries revealed 195 approved cases, rising by 35.42% year-on-year, totaling around US$5.1 billion (approximately NT$ 154.1 billion) and constituting 20% of Taiwan’s total foreign investments. Singapore, Vietnam, and Thailand were the leading recipients. Conversely, approved investments in Mainland China amounted to 305 cases, down by 7.58%, with the approved investment sum decreasing by 33.91% to approximately US$2.96 billion (about NT$88.9 billion). Mainland Chinese investments in Taiwan experienced a 45.45% decline in approved cases to 24, with the investment figure falling 21.65% to about US$27.4 million (approximately NT$821.6 million).
2023/12/20 20:45
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Lai-Hsiao ticket narrowly leads in tight presidential race
A new poll by ETtoday reveals a tight race in the upcoming 2024 presidential election in Taiwan. The Democratic Progressive Party’s Lai-Hsiao ticket, consisting of Lai Ching-te and Hsiao Bi-khim, leads with 35.9% support, slightly ahead of the Kuomintang’s Hou-Jaw ticket, comprised of Hou Yu-ih and Jaw Shaw-kong, at 34.7%. The Taiwan People’s Party’s Ko-Wu ticket, featuring Ko Wen-je and Cynthia Wu, trails behind with 19.6% support. Despite the close percentages, 44.3% of the public expresses confidence in the Lai-Hsiao ticket’s ability to win, compared to 30.1% for Hou-Jaw and 13.8% for Ko-Wu. Conversely, 40.5% of voters are certain they will not vote for Lai-Hsiao, while 27.3% reject Hou-Jaw and 20.6% turn away from Ko-Wu. In terms of non-constituency legislators, the KMT leads with 35% support, followed by the DPP with 31.3% and the TPP at 14.5%. The poll highlights public concern over Taiwan’s economic ties with China, particularly due to recent trade restrictions viewed as trade barriers and the suspension of the Economic Cooperation Framework Agreement (ECFA) measures. Additionally, 47.1% of respondents worry that a Lai Ching-te presidency could worsen cross-strait economic and people-to-people exchanges, while 16.4% hold the same concern for Hou Yu-ih and 11.6% for Ko Wen-je. The poll, conducted from December 18 to 19, surveyed 1,224 respondents with a margin of error of plus or minus 2.8%. Compared to the previous poll from December 14 to 15, support for the Lai-Hsiao ticket dropped by 2.6 percentage points, while the Hou-Jaw ticket saw a minor decline of 0.4 percentage points, and the Ko-Wu ticket remained unchanged. The number of undecided voters increased to 9.8%, indicating the undecided nature of the electorate ahead of the presidential vote.
2023/12/20 15:35
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FamilyMart Taiwan sees fresh food sales jump 10% annually
FamilyMart, a leading convenience store chain in Taiwan, has experienced significant growth in its fresh food sales, with an annual increase of at least 10% over the past three years. In 2022 alone, revenue from fresh foods reached NT$25 billion, accounting for over 30% of the company’s total revenue. Huang Cheng-tien, FamilyMart’s Fresh Foods Operations Manager, considers fresh foods a crucial strategic asset and has launched branded products targeting various market segments and trending categories. The focused brands, such as ’uno pasta’ for Italian pasta and ’minimore’ for desserts, have yielded impressive results, with pasta sales growing by 20% annually and dessert sales in 2022 skyrocketing by over 40%. FamilyMart has also made significant efforts to cater to health-conscious consumers, implementing structural reforms since 2016 that encompass ingredients, equipment, packaging, and processes. These reforms have contributed to the success of products like the tuna onigiri, which saw a 19% sales growth in 2022. Additionally, FamilyMart has collaborated with renowned restaurants and chefs, including Din Tai Fung, resulting in the sale of over 20 million co-branded items. These collaborations aim to create differentiated products by incorporating key ingredients from partners, such as a spicy sauce by Din Tai Fung used in unique offerings like grilled rice balls and fried noodles. In the first half of this year, FamilyMart’s fresh food revenue grew by an impressive 20%. The company’s General Manager, Hsueh Tung-tu, strives to attract more customers by offering unique products, following the motto "What others don’t have, we have; what others have, we excel in."
2023/12/20 15:32