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Taiwan at top of business cycle: Cathay

By Ted Chen

Cathay Financial Holding Co (國泰金控) yesterday said it expects GDP growth next year to slow to 2 percent from 2.1 percent this year, as the expansion phase for the nation’s business cycle nears its conclusion in the absense of clear global growth catalysts. “The nation’s businessFULL STORY

Westin to help attract foreigners to Yilan

By Crystal Hsu

Rich Development Co (力麒建設) and affiliate Lealea Hotels and Resorts Co (力麗觀光) have opened a new resort hotel in Yilan to expand their business to the county’s lesser-known locations. Westin Resort Yilan (宜蘭力麗威斯汀度假酒店) in the county’s Yuanshan Township (圓山) is the first international five-star hotel inFULL STORY

Free shipping helped triple sales, PChomestore says

By Lauly Li

PChomestore Inc (商店街), a PChome Online Inc (網路家庭) subsidiary, yesterday said it plans to extend its free shipping policy after it helped boost monthly orders to an estimated 6 million this month from 2 million last month. PChomestore offers 170 million items on its online shoppingFULL STORY

Baby fashion house opens first restaurant in China

By Kuo Chia-erh

Cayman Tung Ling Co Ltd (東凌), which sells baby clothes and infant products in China, on Saturday opened its first family restaurant in Shanghai, which it said marked a first step in a three-year transformation plan. Cayman Tung Lin expected same-store sales to reach 1.5 millionFULL STORY

Hwa Fong rubber to build new tire plant in Thailand

By Kuo Chia-erh

Tire maker Hwa Fong Rubber Industry Co (華豐橡膠) plans to spend about 1.53 billion baht (US$46.22 million) expanding its capacity in Thailand to meet growing demand in Southeast Asia. The firm, which operates its Thai business through Hwa Fong Rubber (Thailand) PCL, is to build aFULL STORY

Manufacturing confidence climbs to three-year high

The manufacturing composite index hit a three-year high last month as business sentiment in the local manufacturing sector improved on the back of solid export performance, according to a survey released yesterday by the Taiwan Institute of Economic Research (TIER). TIER, a leading think tank,FULL STORY

China to tighten SOE finance controls

China is to create a centralized financing company to oversee about US$304 billion of funds held by the country’s state-owned enterprises’ (SOEs) finance units, allowing the government closer supervision of SOEs’ borrowing and investments, people familiar with the matter said. The plan, approved by the ChineseFULL STORY

Cuts in Chinese steel output spell fall in ore prices

Iron ore has slumped back into a bear market after posting the biggest weekly loss in 16 months, amid concern that record demand in China could ease off as mills enact winter output cuts, just as data from the country, which is the the topFULL STORY

Stocks fall as eight Chinese cities restrict property sales

Chinese property stocks plunged in Hong Kong after a raft of mainland cities added housing curbs, wrong-footing investors betting that the government’s next step would be to ease restrictions. Eight cities, including Chongqing and Nanning, rolled out curbs over the weekend, with most banning home resalesFULL STORY

Unilever makes US$2.7bn S Korea cosmetics acquisition

Unilever has agreed to buy South Korean cosmetics maker Carver Korea for 2.27 billion euros (US$2.7 billion) to gain a stronger foothold in the world’s fourth-largest skincare market. Unilever will buy the maker of AHC skincare products from shareholders including Goldman Sachs Group Inc and BainFULL STORY

US economists see growth slowdown and rate increase by end of the year

Amid uncertainty over US President Donald Trump’s growth agenda, US economists increasingly worry about risks to the economy, although they see little chance of a recession in the near term, according to a survey released yesterday. The National Association for Business Economists’ quarterly survey showed littleFULL STORY

World Business Quick Take

INDUSTRIAL SERVICES ABB to buy GE division ABB Ltd agreed to buy the industrial solutions business of General Electric Co (GE) in a deal valued US$2.6 billion that will accelerate the Swiss factory equipment supplier’s move into services spanning engineering to delivering power supplies, to next year’sFULL STORY

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