Business and Economy

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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Video shows Chinese airliner nosedived from an altitude of 9,000 meters

composite image showing plane nosediving and site of crash
Aviation Regional 
Phillip Charlier 1 Comment ,

Video footage from a security camera at mining operation around one kilometer away from the site of a plane crash that killed all 132 passengers and crew aboard in Guangxi Province, China, showed that the airliner nosed dived to the ground from an altitude of 9,000 meters. According to data from Flightradar24, the Boeing 737-800 belonging to China Eastern Airlines plunged “cliff-like” from an altitude of 9,000 meters before disappearing from radar at 900 meters at around 2:50 pm today,

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Missing Boeing 737 with 132 on board confirmed crashed in China

composite image showing forest fire and piece of wreckage
Aviation Regional 
Phillip Charlier 0 Comment ,

A China Eastern Airlines passenger plane that went missing from radar earlier today has been confirmed to have crashed in a mountainous area of Guangxi Province, China, according to Chinese state media. CCTV reported that a China Eastern Airlines Boeing 737 flight number MU5735 carrying 123 passengers and 9 crew took off from Kunming at 1:15 pm bound for Guangzhou Baiyun Airport. At around 2:50 pm the plane disappeared from radar screens over Wuzhou, Guangxi Province. At 4:30 pm, the

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Large areas of southern Taiwan still in the dark this evening but power supply sufficient for tomorrow says Taipower

a police officer directs traffic during power outage
Business and Economy 
Phillip Charlier 0 Comment

Power was restored to most affected areas following nationwide blackouts caused by an accident at Xingda Power Plant in Kaohsiung City this morning, however, many areas of southern Taiwan were plunged into darkness again as the sun went down on solar power arrays this evening, March 3. As of 8:30 pm this evening power outages were still being reported over much of Kaohsiung City’s central business district, and areas of Pingtung, Tainan, Chiayi, and Yunlin counties. An estimated 700,000 households

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