With premier-designate Su Tseng-chang's (
Joseph Lyu (
"Neither of them are heavyweights but both are entrusted with heavyweight tasks," said Thomas Lee (
Their ability to rapidly deal with public affairs and carry out national economic policies will determine how well they stand up to public scrutiny, he added.
Known as a seasoned banker, Lyu's appointment to the finance ministry was viewed by many as odd, since the ministry's main function now is to pursue more fair taxation, while dealing with stake-holdings in state-run financial institutions is a secondary task, Lee said.
But if the legislature passes revisions to the Organic Law of the Executive Yuan (
However, this could also mean that the ministry's efforts to push through tax reform could fail, despite its initial success in passing the alternative minimum tax late last year.
Lin yesterday threw his full support behind his successor, Lyu, saying that Lyu's rich experience and strong capabilities will help him weather difficulties.
For his part, Huang will face stiff challenges after taking the helm of the economic affairs ministry, Lee said.
Huang is a former dean of National Taipei University's business school and was an executive at several private companies for more than 20 years.
His experience in chairing the Taiwan Tobacco and Liquor Corp (
Huang's first challenge will be how to deal with the possible hikes in utility fees after the Lunar New Year, which always triggers dissatisfaction and will give the public a chance to examine his political wisdom, the professor noted.
Meanwhile, foreign business groups also said that they hope the new ministers make their plans for the next two years as soon as possible in order to achieve better policy transparency and stability.
"We expect them to get down to the business quickly, as time is running out," Guy Wittich, chief executive officer of European Chamber of Commerce Taipei (ECCT), said in a phone interview yesterday. He cited worries about Taiwan's weakening competitiveness compared with other countries in the region such as South Korea, and slowing economic growth.
With frequent political shakeups, foreign businesspeople expect the government to deliver consistent policy in order to help their business activities here, American Chamber of Commerce in Taipei (AmCham) Executive Director Richard Vuylsteke said.
Further normalization of cross-strait relations, including facilitating the free flow of personnel across the Taiwan Strait and lifting import bans on products or components manufactured in China, remain top priorities for both foreign business chambers, both chamber heads said.
Improving market access through measures such as scrapping technical trade barriers is also an area in which the foreign business community wants the new government to make substantial progress, Wittich said.
Vuylsteke agreed, and acknowledged the authorities' efforts to implement financial reforms.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS