TW Biz News｜WK 10/20 - 10/27
Every week, we'll select Taiwan's five business news from the previous week for your review.
Shin Kong Mitsukoshi’s Tianmu department store in Taipei hopes Nvidia’s planned headquarters will eventually bring new customers to the area, though the store’s lease is due to expire in early 2027. Taipei and Nvidia signed an agreement in February for the company’s headquarters at the Beitou-Shilin Technology Park. Shin Kong Mitsukoshi acknowledged that the park is some distance from Tianmu and that any benefit to the shopping district is not yet apparent. It said the project could eventually bring more residents and workers to the area, per CNA.
Taiwan's Fair Trade Commission has blocked Grab's US$600 million bid to acquire Foodpanda's Taiwan operations, citing concerns over market competition. The decision follows a failed Uber Eats acquisition attempt in 2024.
〔Taiwan Plus〕TSMC Eyes Texas Expansion, Reports Record Q3 Profit
TSMC reported record third-quarter net profit of approximately US$23.6 billion, up nearly 69% year on year, as demand for AI chips continues to drive growth. Chair and CEO C.C. Wei confirmed the company is evaluating a potential expansion into Texas, beyond its existing operations in Arizona.
A Tourism Administration delegation is promoting tourism and business meetings at Internationale Tourismus-Borse Asia in Singapore. The agency’s pavilion, “Waves of Wonder,” showcased travel offerings and exhibition services, per CNA. It also promoted incentives for overseas companies organizing events in the country. Presentations covered incentives for visitors who combine business events with sightseeing, as well as subsidies for overseas companies organizing trips. Buyers also discussed eligibility, venues, and itinerary planning with industry representatives.
Chun Shui Tang, the Taiwanese tea house chain credited with inventing bubble tea, is preparing to bring its signature drinks and local cuisine to the US. Its first US location is scheduled to open in the third quarter of 2027 in Phoenix, Arizona. The chain hopes to tap into demand for Taiwanese food and beverages in the area, where TSMC has established facilities, according to CTEE.
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