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One of the top stories from this past week was that the the transfer of power from the administration of the KMT’s President Ma Ying-jeou to the DPP’s President-elect Tsai Ing-wen officially began on Friday.
Three government officials brought documents to the DPP headquarters in person. Those documents included information about government operations and structures, personnel, next year’s budget plans, as well as previous and future policy plans.
The DPP has said that the transfer of power has been quite smooth so far. The Tsai administration is set to take office in late May following Tsai’s landslide victory in the presidential elections in mid-January. The DPP also won its first majority in the legislature, picking up more than 60% of the seats in the legislative race.
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Also this past week, Taiwan’s leading electronics manufacturer, Foxconn, says that no date has been set for signing a deal to take over Sharp. In a statement on Friday, Foxconn said the companies were hoping to reach a satisfactory agreement soon.
Japanese media have said the two companies are likely to sign an acquisition agreement on March 9th at the earliest.
Foxconn’s bid to take over the Japanese electronics giant has recently gone through some twists and turns. Foxconn said last week that it would delay the signing of its deal with Sharp until it reaches an understanding of “one key document.”
It was reported that the delay was due to a previously undisclosed liability risk for Sharp, which could amount to US$3.1 billion.
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And finally, this past week, shares in Taiwan closed up at their highest in four months on Friday. Taiwan shares were up nearly 32 points that day to end trading at 8,643.55.