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Vietnam top pick as firms leave China

By Crystal Hsu

Vietnam is best placed to benefit from the diversion of investment out of China, while Thailand and Singapore are also likely key beneficiaries, Australia and New Zealand Banking Group Ltd (ANZ) said yesterday. The ongoing US-China trade spat has underlined the risk of concentrating production basesFULL STORY

Kee Tai looks to diversify with hotel deal

By Crystal Hsu

Kee Tai Properties Co (基泰建設) has inked a pact with InterContinental Hotels Group (IHG) to operate a new hotel near Taipei Railway Station as the Taipei-based developer seeks to expand into the hospitality business and diversify its income sources. The hotel would have 183 guestrooms onFULL STORY

Taiwan shares close down due to TSMC sales worries

Shares in Taiwan closed slightly lower yesterday as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure, pushing down the broader market, dealers said. However, old-economy stocks in the cement, food and petrochemical sectors, as well as financial stocks, appeared resilient, which helpedFULL STORY

HTC chooses 18 start-ups to join Vive X program

Eighteen start-ups from around the world have been selected for HTC Corp’s (宏達電) Vive X accelerator program, as part of its efforts in virtual reality (VR) development. The start-ups are the fourth batch of companies to join HTC’s Vive X accelerator program in its offices inFULL STORY

Supermarket revenue and store numbers hit record

By Kao Shih-ching

Supermarkets in Taiwan reported NT$165.4 billion (US$5.36 billion) in combined revenue for the first nine months of the year at 2,201 stores, both numbers being records, a report released by the Ministry of Economic Affairs on Thursday showed. From January to September, revenue at supermarkets sawFULL STORY

Tencent planning WeChat cull amid content cleanup

Tencent Holdings Ltd (騰訊) yesterday said it plans to rein in content on WeChat (微信) by culling the number of public accounts on the platform, responding to the latest in a series of Chinese government cleanups that have rattled the Internet sector. WeChat is cutting limitsFULL STORY

Only basic US-China deal likely: Ross

The US still plans to raise tariffs on Chinese imports in January next yearwith US President Donald Trump and Chinese President Xi Jinping (習近平) likely at best to agree to a “framework” for further talks to resolve trade tensions at an upcoming meeting, US SecretaryFULL STORY

Chinese to take 46% of luxury sales by 2025

Chinese consumers are to remain the driving force for the luxury goods market and account for nearly half of global high-end sales by 2025, a Bain & Co study released on Thursday showed. Chinese shoppers are expected to account for 46 percent of global luxury salesFULL STORY

Chinese-born German faces data theft charge

German prosecutors are pressing criminal charges against a former employee of chemicals maker Lanxess AG for allegedly stealing trade secrets to set up a Chinese copycat chemical reactor. The case underscores fears among German officials and executives about industrial espionage in Europe’s largest manufacturing nation. State prosecutorsFULL STORY

Chip stock carnage seeps into Asia, US$8.4bn lost

The chipmaking sector saw another bout of selling in Asia, wiping at least US$8.4 billion in market value, as weak forecasts from Nvidia Corp and Applied Materials Inc on Thursday added to the latest signals that demand for servers, personal computers and mobile devices isFULL STORY

Walmart upbeat as global sales growth continues

Global retail giant Walmart Inc is more upbeat about earnings for the year, despite tamping down expectations just a month ago, after posting sales growth across all its business lines and most regions on Thursday. The company has been buffeted by investments and sell-offs as itFULL STORY

World Business Quick Take

PAPUA NEW GUINEA Total, Exxon ink LNG deal The Pacific Island nation yesterday signed a deal with energy giants Total SA and Exxon Mobil Corp on a proposed new project that would significantly boost its liquefied natural gas (LNG) exports. The parties hope to finalize the PapuaFULL STORY

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