The new kids on the block
Article Abstract:
The Taiwanesebanking industry has great prospects for growth after the slackening of controls over it by the government. Unlike other banks in the region, Taiwanesebanks are not saddled by heavy debts resulting from unbridled borrrowings by real estate developers and corporate investors. Its noninvolvement in property and stock market speculations has also strengthened its ability to provide moreservices and increase its client coverage. Since 1991, the country's Finance Ministry has granted licenses to 17 new banks, bringing to 31 the total number of local banks on the island.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Everybody out: scandals prompt runs on two Taiwanese lenders
Article Abstract:
Taiwan's stockmarket plunged 4.8% on Aug 5, 1995, following announcements of banking scandals at Changhua Fourth Cooperative Bank and International Bills Finance Corp (IBFC). At Changhua, the general manager embezzled $295 million, three times the bank's net worth, leading to a huge bank run before the Ministry of Finance closed the co-op on Aug 3. At IBFC, a clerk issued about $3 billion in fake commercial paper. Strong criticism of the government's general oversight and its handling of both cases followed.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
On hold
Article Abstract:
Taiwan's economy seems to be slowing down although it continues to grow. Growth in gross national product in 1993 has been 6.15% while the government intended a 7% rate. Capital formation has declined to 13% of 1992's rate which was 19.5% of the 1991 rate. The central bank has tried to boost confidence in moves interpreted as support for the Kuomintang's electoral campaign. The economics ministry has also tried to help the stock market.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Slaves to the law. Doing the dirty work: Asia's brothels thrive on migrant labour. Toilers of the East: newly rich Asian countries act as magnet for region's workers
- Abstracts: Textiles: foot in the door. A new deal: European union increases quotas for Asian exporters. Seeing eye-to-eye: the European union and Japan embark on a new era
- Abstracts: Pole position ploys. Heir looms: Anwar seen as victor in Umno leadership race. Power machinations
- Abstracts: House cleaning. Pandora's box: party split over social, financial problems. Letting off steam
- Abstracts: Failed gods of the past: state capitalism has defeated itself. Reforms pay off