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Economy & Law

96 Stories

The Economy & Law channel covers investment, consumer law and intellectual property, simplifying complex financial and legal knowledge so readers can protect their rights and make sound decisions.

WTI Crude Oil Futures Turn Negative: Will Airlines Go Bankrupt?
Economy & Law·

WTI Crude Oil Futures Turn Negative: Will Airlines Go Bankrupt?

May WTI crude oil futures fell from a once-high US$147.25 per barrel to below zero, even plunging to negative US$40. This is an era never seen in modern history, revealing the global market economy's predicament: no planes to fly, no tankers to run, and even warships halted due to COVID-19 infections, turning the price of a barrel of oil cheaper than an empty barrel.

Banking Security Through the Differences Between Bank of Taiwan and ICBC: Anti-Counterfeit Chips, Disappearing-Ink Pens, and the Cost of Cross-Strait Trust
Economy & Law·

Banking Security Through the Differences Between Bank of Taiwan and ICBC: Anti-Counterfeit Chips, Disappearing-Ink Pens, and the Cost of Cross-Strait Trust

An afternoon trip to Bank of Taiwan to renew a new version of an international debit card sparked a deeper comparison of cross-strait financial risk control and information security mechanisms. Why does ICBC strictly forbid customers from using their own ballpoint pens to sign? Why does a seemingly heavily fortified financial system still see rampant underground crime? This article deconstructs the truth behind the game of banking security, from chip card upgrades and the paperless New Zealand experience to the cost of social trust.

2019 New Banknote Exchange: New Year Spring Festival Red Envelope Exchange Banks and Post Offices
Economy & Law·

2019 New Banknote Exchange: New Year Spring Festival Red Envelope Exchange Banks and Post Offices

As the Lunar New Year of ROC year 108 (2019) approaches, our Central Bank announced that during the five working days from January 28 (Monday) to February 1 (Friday) before the New Year close, the seven major public bank branches and Chunghwa Post, totaling 453 post offices, are open for the public to exchange new banknotes. In addition, some regional banks and credit cooperatives will also provide appropriate amounts of new banknotes for old customers to exchange.

2018 Lunar New Year New Banknote Exchange Rules and List of 7 Designated Exchange Banks/Post Offices
Economy & Law·

2018 Lunar New Year New Banknote Exchange Rules and List of 7 Designated Exchange Banks/Post Offices

As the Lunar New Year of ROC year 107 (2018) approaches, our Central Bank announced that during the 5 working days from February 8 (Thursday) to February 14 (Wednesday) before the New Year close, the seven major public banks and Chunghwa Post, totaling 454 branches and post offices, can provide the public with new banknote exchange services. In addition, some regional branches and credit cooperatives will also provide appropriate amounts of new banknotes for old customers to exchange.

2017 Taipei International Invention Show & Technomart: Over a Thousand Latest Invention Patents and Technologies
Economy & Law·

2017 Taipei International Invention Show & Technomart: Over a Thousand Latest Invention Patents and Technologies

The 2017 Taipei International Invention Show & Technomart was grandly exhibited from September 28 to 30 at Taipei World Trade Center Hall 1. TAITRA held a pre-show press conference today (the 19th), unveiling several creative inventions in advance. It also announced that a New Southbound Policy zone will be set up this year, inviting 7 countries including Vietnam, the Philippines, India, Thailand, and Singapore to participate, strengthening links with New Southbound countries.

105 Economy & Law Office Statistics: Taiwan's Top 100 Patent Ranking of Enterprises and Universities
Economy & Law·

105 Economy & Law Office Statistics: Taiwan's Top 100 Patent Ranking of Enterprises and Universities

Is Taiwan's patent king changing hands? The Economy & Law Office of the Ministry of Economic Affairs announced the statistics ranking of patent applications and granted certificates for ROC year 105 (2017). Among ROC legal persons, Taiwan Semiconductor Manufacturing Company ranked No. 1 with 873 applications, while Hon Hai Precision Industry, which had held the patent king throne for fourteen consecutive years, fell to No. 3 with 400 applications.

6 New Ministry of the Interior Policies for 2017: Abolishing Land Categories, Revising Rental Contracts, National Park Fees, Short-Term Overseas Travel for Conscripts, and Simplified Entry Procedures for Foreigners
Economy & Law·

6 New Ministry of the Interior Policies for 2017: Abolishing Land Categories, Revising Rental Contracts, National Park Fees, Short-Term Overseas Travel for Conscripts, and Simplified Entry Procedures for Foreigners

Starting from New Year's Day, the Ministry of the Interior of the Executive Yuan of the Republic of China will roll out 6 major new policies or measures affecting people's rights, including: "Abolishing the Land Category and Grade System," "Implementing the Mandatory and Prohibited Provisions for Standardized Housing Lease Contracts," "Fee Management for Public Parking Lots in Yangmingshan National Park," "Establishing an Online Application System for Short-Term Overseas Travel by Conscripts," "Simplifying the Online Visa Application Process for Hong Kong and Macau Residents Visiting Taiwan by Cruise Ship," and "Official Launch of the Cloud-Based Online Application System."

Guidelines for the Examination of Medical Device Registration / Explanation of the Draft Amendment to Certain Articles
Economy & Law·

Guidelines for the Examination of Medical Device Registration / Explanation of the Draft Amendment to Certain Articles

These Guidelines are established pursuant to Article 40, Paragraph 3 of the Pharmaceutical Affairs Act for the needs of handling the examination of medical device registration and the management of licenses, and were promulgated and put into effect on December 30, 2004 by the Department of Health Order Wei-Shu-Yao-Zi No. 0930328238, having undergone five amendments since. However, in order to refine the examination of registration and ensure the safety and efficacy of marketed medical devices, a draft amendment to certain articles of the "Guidelines for the Examination of Medical Device Registration" is hereby proposed.

Let's All Help Hang Up on Far Eastern Bank's 0975090470 Loan Telemarketing Call
Economy & Law·

Let's All Help Hang Up on Far Eastern Bank's 0975090470 Loan Telemarketing Call

At four in the afternoon, the Asus phone on my desk rang with a call from the number "0975090470." On the other end was a woman's voice that sounded a bit rough and stiff, and the dull tone carried the standard script of a junk marketing call. She said: "Hello, sir, this is the Far Eastern Bank project center. We're currently offering preferential loans. If you need..." The call lasted less than 11 seconds...