TW Biz News｜WK 11/03 - 11/09
Every week, we'll select Taiwan's five business news from the previous week for your review.
Kaohsiung’s E-DA World resort complex announced Wednesday that it will stage a 999-second fireworks show at midnight on Jan. 1 to welcome 2027, CNA reported. The nearly 17-minute show will feature fireworks in different colors and shapes, stretching nearly 500 meters across the night sky. A drone performance will also take place before the New Year countdown. Now in its 18th year, the annual fireworks show will feature six sections with gold, purple, silver, and red fireworks. The display will combine fireworks launched at different heights to create layers of color.
A surge in travel fuelled by Taiwan’s AI boom is driving record guest numbers at Formosa International Hotels Corp, showing the technology sector’s growing impact beyond just the chip industry. The company, led by chairman Steven Pan, is on track for record revenue and profit this year. Room revenue has increased 10% year-to-date, while sales at its luxury retail business have jumped 20% due to the AI boom, he said, declining to provide specific figures.“What it means for the hotel industry is a tremendous increase in business travel because people have to come and buy stuff from Taiwan, make deals in Taiwan,” Pan said.
Taiwan launched its second annual "Taiwan Weeks" on Tuesday to strengthen global capital market connections and advance its ambition to become a leading asset management center in Asia. The opening ceremony attracted more than 400 participants, including global exchange leaders, asset managers, institutional investors, listed companies and Taiwan's financial sector. Led by the Financial Supervisory Commission (FSC), the event was co-organized by Taiwan's securities and futures institutions, including the Taiwan Stock Exchange (TWSE), Taipei Exchange (TPEx), Taiwan Futures Exchange (TAIFEX), and Taiwan Depository & Clearing Corporation (TDCC).
Taiwan is showcasing its food, culture, and scenic attractions at the World Travel Market in London, which opened Tuesday, as it seeks to attract more European visitors. Held at Excel London, the three-day event features more than 4,000 exhibitors from over 180 countries, per CNA. Taiwan’s pavilion offers traditional opera, sky lantern making, and tea tasting. The pavilion also hosts a networking reception featuring Taiwan Beer and dishes combining local ingredients with European-style presentation. Guests sampled chilled white fungus and cucumber salad, braised radish, and rice balls filled with pork and pickled cabbage.
〔Taiwan News〕Lin says US needs Taiwan to achieve tech ambitions
Taiwan is a valuable partner for US tech development, Foreign Minister Lin Chia-lung said on Tuesday. Today, the US is a powerhouse in semiconductor innovation, design, and R&D, while Taiwan leads in advanced manufacturing, packaging, and supply chain integration, Lin said in a Foreign Affairs Magazine opinion article. US tech giants such as Nvidia, Apple, and Qualcomm rely on Taiwanese manufacturers to turn their ideas into real-world products, he said.
〔Taipei Times〕Taiwan extends gift voucher program for travelers
The Tourism Administration has extended its NT$600 (US$18.31) gift voucher program for foreign transit passengers at Taiwan Taoyuan International Airport to the end of 2028. The voucher program, which was scheduled to run from Nov. 1 last year to Oct. 31, has been extended to Dec. 31, 2028, or until the allocated funds are exhausted, the agency said. The extension was intended to encourage transit passengers to enter the country and spend money at the airport, while aligning the program with the expected completion of Terminal 3 by the end of next year, it said.
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