Business and Economy

Tourism operators disappointed after luxury cruise ship cancels east coast port of call due to bad weather

Cruise ship Seven Seas Mariner passes by the Port of Hualien
Travel and Tourism 
Phillip Charlier 0 Comment , , ,

A cruise ship carrying 500 passengers sailed past the port of Hualien, and will sail directly to Keelung Harbor, after the captain of the vessel decided that high winds and swells made it unsafe to enter the port. The Seven Seas Mariner was scheduled to dock at the Port of Hualien at 7:00 am today, March 13. However, sustained winds of level 6 to 7 on the Beaufort Scale, gusts up to Beaufort-scale 10, and swells of 3 to 4

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Garmin launches handheld satellite communication device for Taiwan’s booming outdoor sports market

Garmin inReach mini 2
Business and Economy 
Phillip Charlier 1 Comment , ,

In cooperation with Taiwan’s Executive Yuan, the National Fire Agency of the Ministry of the Interior, and national communications carrier Chunghwa Telecom, Garmin has launched a handheld communications device utilizing low-orbit satellites that can assist people in emergencies when out of mobile phone communications range. Taiwan is one of the most mountainous countries in the world, with around 70% of its landmass consisting of mountains, of which 268 are more than 3,000 meters high. According to statistics, in the past

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Taiwan insurance companies suffer heavy losses on COVID and vaccine policy payouts

Taiwan NT$1,000 bills
Business and Economy 
Phillip Charlier 2 Comments , , ,

Some of Taiwan’s largest insurance companies have applied for capital reserve funding increases and short term loans to cover losses to the tune of more than NT$80 billion as Covid-19 and COVID vaccine insurance claims continue to pour in, the Financial Supervisory Commission (FSC) said yesterday, September 6. The FSC Insurance Bureau reported that from the beginning of the year to September 5, there had been more than 1.7 million claims settled on COVID-19 insurance and more than 386,000 claims

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Retired tech exec to invest NT$1 billion to train 3 million civilians to help defend Taiwan against China

UMC founder and former Chairman Robert Tsao
Business and Economy 
Phillip Charlier 0 Comment , , ,

The founder and former chairman of chip manufacturer United Microelectronics (UMC) has pledged to invest NT$1 billion (US$32.8 million) to train 300,000 specialist marksmen, and 3 million “black bear warriors” to actively assist with regional defense in the face of growing threats from the People’s Republic of China. Robert Tsao revealed the plan at an international press conference held this morning, September 1, saying that the civilian force will cooperate with the soldiers of the national army to form an

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Korean Airliner makes emergency landing at Taoyuan Airport

T' way Air plane landing
Aviation 
Phillip Charlier 0 Comment , ,

A South Korean passenger aircraft carrying 117 passengers and 10 crew made an emergency landing at Taoyuan International Airport in Taiwan after detecting an engine-related problem during a flight from Singapore to Incheon International Airport today, August 2. The T’way Air Airbus A330-300 flight TW172 departed Singapore’s Changi Airport at 3:30 am local time Tuesday. “It was not that there was a serious problem with the plane, but that the flight crew detected an engine abnormality and made the decision

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China issues ban on Taiwanese food imports, TAIEX slumps ahead of Pelosi visit

composite picture of Nancy Pelosi and a stock chart
Business and Economy 
Phillip Charlier 1 Comment ,

China slapped a ban on more than 100 Taiwanese food manufacturers late last night, affecting potentially up to around 3,000 products, ahead of the expected visit of US House of Representatives Speaker Nancy Pelosi later today, August 2. The General Administration of Customs of China made a surprise announcement late last night shortly after it became apparent that Pelosi would visit Taiwan, despite the country not being mentioned on the official itinerary of her Asian tour. Chinese customs authorities  cited

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Kaohsiung City in first place for electric bus deployment

Model T electric bus in Kaohsiung City, Taiwan
Business and Economy 
Phillip Charlier 0 Comment , , ,

Kaohsiung City has the the largest proportion of electric buses in its public bus fleet accounting for 19.5% of the total, according to a Ministry of Transport and Communications (MOTC) press release today, June 24. The Kaohsiung City Government assisted bus operators to obtain subsidies from the national government in order to reduce sources of mobile pollution. There are currently 195 electric buses plying routes in the city. At 19.5% of the overall bus fleet, Kaohsiung City won first place

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Taiwan stocks tumble following Wall Street’s 5th consecutive weekly decline Friday

Taiwan stock chart May 9 2022
Business and Economy 
Phillip Charlier 0 Comment ,

Taiwan’s Capitalization Weighted Stock Index (TAIEX) fell more than 300 points (2.19%) Monday after US markets marked a bearish 5-week-long losing streak Friday. Affected by high inflation, rising interest rates, and declines in corporate profits, Taiwan stocks fell to an almost one year low at prices not seen since May 21 last year. The TAIEX opened at 16,345.8, 62 points down from Friday’s close, and tumbled more than 200 points in early trading. After a brief rebound the decline continued

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Evergreen Marine ship EVER FORWARD finally moving after one month stuck aground in Chesapeake Bay

Evergreen Marine Corp. container ship Ever Forward being pushed by tugs in Chesapeake Bay
Business and Economy 
Phillip Charlier 0 Comment , ,

A container ship belonging to Taiwan shipping giant Evergreen Marine Corp. has finally been refloated after running aground in Chesapeake Bay on the US east coast more than one month ago. The 334-meter-long, 117,340 gross ton Ever Forward ran aground on a muddy bottom after leaving the Port of Baltimore and “missing a turn” on March 13. The grounding came just 10 days short of the anniversary of Evergreen’s Ever Given getting stuck and blocking the Suez Canal from March

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Taiwan’s gold reserves valued at US$26.9 billion: Legislator suggests “sell high, buy low”

Taiwan gold reserves
Business and Economy 
Phillip Charlier 1 Comment ,

A legislator suggested that Taiwan’s central bank should sell some of its gold reserve while the price is high, as the market price reached close to US$2,000 per ounce yesterday, April 13. The Russia-Ukraine war, and rampant global inflation has driven up the price of gold, with prices of over US$2,050 seen in early march, and the price reaching US$1,973 yesterday. At the time of writing the gold price was hovering slightly below US$1,970. Taiwan’s central bank (Central Bank of

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Thousands of passengers affected after industrial accident cuts power to High Speed Rail

composite showing HSR trains and stranded passengers
Business and Economy 
Phillip Charlier 0 Comment , ,

Thousands of passengers were left temporarily stranded in Kaohsiung City and Tainan City after an industrial accident caused a high voltage tower to collapse, cutting power to High Speed Rail services between Tainan and Zuoying stations on the eve of the four day Tomb Sweeping Festival long weekend, today, Friday, April 1. At around 3:35 pm, contractors were using a wrecking ball to demolish a silo at a disused Southeast Cement Company plant adjacent to the high speed rail track

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