A trial is underway in Taiwan to showcase mobile phones as payment devices. It is hoped the program will help boost the credit card industry in Taiwan, which is recovering from a recent crisis. On February 9, 2007, MasterCard, Taipei Fubon Bank and Taiwan Mobile announced the launch of a new system.that will allow customers involved in the trial to pay for goods and services by waving their…
Dubai is looking to position itself at the heart of the region's health industry, offering world class services and research facilities while at the same time contributing to the emirate's revenue. The focus of this drive is the Dubai Healthcare City (DHCC), a $1bn development project being overseen by Tatweer, an arm of Dubai Holding. Located at the edge of Dubai City, the DHCC will offer medical…
President Chen Shui-bian recently announced at a machine tool trade show that the government would promote the industry in Taiwan with the aim of creating a "mega sector" with a targeted production value of $33.27bn by 2009. He said that Taiwan should aim to be the third largest producer of advanced high precision tools by that time. Chen stated that the government wants the machine tool industry…
While Taiwan's publicly listed companies can invest in China, the government limits the amount in an effort to safeguard investment outflows from Taiwan. Analysts have warned that the cap, currently between 20 and 40% of the local firm's net value, could make it more likely that Taiwanese companies will leave the country's stock exchange. Because of such restrictions, there is also concern that local…
Taiwanese authorities are taking the first steps to actively promote healthcare tourism in the country. Cabinet level bodies, including the Department of Health (DOH) and the Council for Economic Planning and Development (CEPD), met with 15 multinational insurance companies on April 17 to formulate ways to promote Taiwan as a medical destination. The council hopes these companies can use their international…
Taiwan and India signed a memorandum of understanding on April 18 to cooperate in areas such as nanotechnology, semiconductors, aviation and space, satellite development, biotechnology and agriculture. They will also work together to develop programs to commercialise research and development, increase innovation and discuss sustainable development strategies. Chang Ho-Chung, chief of technology at…
This week the Bankers Association of Taiwan called on lawmakers to amend the proposed new personal bankruptcy law saying it would encourage credit abuse in the mortgage sector. Last month the bill was initially passed by the Legislative Yuan Finance Committee in its first reading and negotiations between the parties are taking place before there will be a second reading. Currently the bill allows…
July was a historic month for trade in Taiwan with exports hitting all-time highs. Customs statistics from the ministry of finance showed that in the first seven months of the year, exports amounted to $135.1bn, up 7.6% year-on-year, with July alone showing a rise of 8.2% to $21.2bn. Despite the rise, the growth rate this year was described as "unsatisfactory" by the Bureau of Foreign Trade (BoFT),…
In Taiwan's highly competitive insurance market, foreign insurers are increasingly tapping bancassurance as a means of reaching out to customers. The model, which involves the selling of insurance products through a bank's branches, provides a mutually beneficial arrangement to insurance companies and banks. In September, Prudential, one of the UK's largest insurers, and London-based global bank…
After a volatile May, Turkish markets welcomed the new month despite growing concerns over the possibility of a further rise in US interest rates and larger than expected increases in domestic inflation. Politicians and market analysts alike were quick to reassure investors, however, noting that Turkey's long-term fundamentals remain strong and the recent dip had more to do with global rather than…
