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December, 7, 2016

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Taiwan
7 holidays to be eliminated next year
Amendments to the Labor Standards Act passed a third legislative reading on Tuesday, after a day of gridlocked legislative proceedings that saw lawmakers wrangling to occupy the podium.
 
No major changes to US policy 'at this point,' says ex-Cheney adviser
A visiting former White House official said Tuesday that there is no reason for Taiwan to anticipate any major changes in U.S. policy following Friday's historic phone call between U.S. President-elect Donald Trump and President Tsai Ing-wen.
 
Activists despondent as labor bill passes
Hundreds of protesters performed funeral rites outside the Legislative Yuan on Tuesday evening, symbolizing the "death of democracy," as lawmakers passed a labor bill that eliminates seven statutory holidays for private sector workers.
 
Gov't is 'turning its back on  innovation,' says Uber boss
Taiwan risks "going backward" if it fails to embrace new technologies, Uber's regional chief said Tuesday at a press conference in Taipei.
 
Formosa Plastics board says it has  'high hopes' for Q4 performance
Formosa Plastics Group (FPG) held a press conference on Tuesday, Dec. 6 to discuss its production and sales performance for the month of November.
 
Financial advisors with international accounting firm PricewaterhouseCoopers (PwC) on Tuesday released tax suggestions for local firms with operations in the United States and U.S. nationals. The suggestions come after President-elect Donald Trump stated one of his top priorities is comprehensive tax reform to significantly lower individual and corporate tax rates.
 
A historic phone call between President Tsai Ing-wen and U.S. President-elect Donald Trump will act as a symbol for decades-long cordial relations between the two countries, the Ministry of Foreign Affairs (MOFA) said Tuesday.
 
Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world's largest contract maker of semiconductors, plans to invest NT$500 billion in its 3-nanometer (3nm) and 5-nanometer (5nm) processes, with the aim of mass-producing the chips by 2022, Technology Minister Yang Hung-duen (楊弘敦) said Tuesday.
 
Something in the water
Samples of four brands of alkaline water containers tested by the Consumers' Foundation are displayed in Taipei at a press event on Tuesday, Dec. 6. The foundation said all four had exaggerated the benefits of alkaline, a possible violation of the Act Governing Food Safety and Sanitation and the Fair Trade Act.
 
Shares of Taiwan-based Largan Precision Co. (大立光), a smartphone camera lens supplier to Apple Inc., climbed Tuesday on its November sales data and upbeat outlook for December, dealers said.
 
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