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First sandbox experiment approved

By Kao Shih-ching

The first experiment in the nation’s “regulatory sandbox” is to begin on Dec. 5, Financial Supervisory Commission Chairman Wellington Koo (顧立雄) said yesterday. KGI Bank (凱基銀行) and Chunghwa Telecom Co (中華電信) are collaborating on the experiment, whose loan and credit lines are to be limited toFULL STORY

UREC eyes early profits through scope

By Lisa Wang

Newly formed United Renewable Energy Co (UREC, 聯合再生能源) yesterday said it aims to make a profit next year, two years ahead of schedule, as it rapidly widens its business scope to encapsulate the entire solar power supply chain. The alliance, which is to officially launch onFULL STORY

Ministry floats loosening rules on migrant workers

By Ted Chen

The Ministry of Economic Affairs yesterday said it would help businesses convey their concerns about the labor shortage in inter-agency talks as adjustments are being made in response to the US-China trade war. The ministry would explore possible remedies to the nation’s workforce shortage with theFULL STORY

Zhen Ding shares dive nearly 10%

By Lisa Wang

Shares of Zhen Ding Technology Holding Ltd (臻鼎), which makes printed circuit boards for Apple Inc’s iPhones, yesterday tumbled 9.96 percent in Taipei, even though its Chinese subsidiary, Avary Holding (Shenzhen) Co Ltd (鵬鼎控股深圳), made a strong debut in Shenzhen. Avary Holding’s A-shares skyrocketed 44 percentFULL STORY

Breaktime gives upbeat outlook on revenue growth

By Ted Chen

Breaktime Inc (富盈數據), a data technology start-up that develops advertisement revenue for bloggers, yesterday forecast strong near-term revenue growth as it continues to tap into a growing readership. The company — which was founded last year and operates Zi.Media Network, a platform for blogs andFULL STORY

Start-ups move into nation’s first fintech coworking space

By Kao Shih-ching

A total of 37 start-up teams have entered the nation’s first financial technology (fintech) coworking space, Taipei-based FinTechSpace (金融科技創新園區), the government-funded Institute for Information Industry (資策會) said yesterday. Smart money management is the most popular theme among the teams, it said. The 37 teams can be categorizedFULL STORY

Local stocks fall after US imposes tariffs on China

Local shares yesterday came under pressure, ending the day below 10,800 points as investors rushed to dump their holdings in the wake of an announcement by Washington that it would impose tariffs on US$200 billion of Chinese goods from Monday next week. The bellwether electronics sectorFULL STORY

HSBC to boost Asia-Pacific wealth management staff

HSBC Holdings PLC plans to increase its wealth management staff in Asia as CEO John Flint bets on growth in the region. The bank plans to add more than 1,300 positions, split roughly between retail and private banking, by 2022, according to the heads of theFULL STORY

Taiwan Business Quick Take

SHIPPING Yang Ming receives vessel Yang Ming Marine Transport Corp (陽明海運) yesterday held a naming and delivery ceremony in Japan for the YM Wellbeing, a 14,000 twenty-foot-equivalent unit (TEU) container vessel built by Imabari Shipbuilding Co Ltd at its shipyard in Hiroshima, Japan. Yang Ming said theFULL STORY

EU chamber rues China ‘reform deficit’

Foreign companies cannot compete on a level playing field in China, because the world’s second-largest economy is stuck in a “reform deficit,” the EU Chamber of Commerce in China said yesterday. Despite four decades of growth, Beijing has fallen behind on pledges to implement reforms andFULL STORY

India mulling three-bank merger

India is considering merging three state-run lenders as it seeks to strengthen its debt-laden banking system. A panel headed by Indian Minister of Finance and Corporate Affairs Arun Jaitley recommended combining Vijaya Bank and Dena Bank with Bank of Baroda, Department of Financial Services Secretary RajivFULL STORY

VW, BMW, Daimler face EU probe

Germany’s beleaguered car industry faces another regulatory tangle, as the EU opened a probe into Volkswagen AG, Daimler AG and BMW AG over suspected collusion that could have delayed clean-emissions technology for cars. The investigation, which could lead to heavy fines, focuses on technical talks toFULL STORY

Renault-Nissan team to get Android into the dash

Renault SA, Nissan Motor Co and Mitsubishi Motors Corp are about to do what many automakers have been trying to avoid: Let Google into the dashboard. The French-Japanese auto alliance announced a technology partnership that is to make its vehicles among the first to use Google’sFULL STORY

Needle culprits face jail in Australia strawberry case

Australian police yesterday said they are investigating reports of dozens of cases of needles embedded in strawberries and other fruits, and warned that those responsible could be jailed for 10 years. The issue is fast turning into one of Australia’s biggest-ever food scares that has haltedFULL STORY

Saudi fund pumps US$1bn into electric car maker

Saudi Arabia’s sovereign wealth fund on Monday invested more than US$1 billion in a Silicon Valley electric car maker just weeks after Tesla Inc CEO Elon Musk claimed that the kingdom would help his firm go private. Tesla stock dropped briefly on Monday in reaction toFULL STORY

World Business Quick Take

FOOD Nestle to sell Gerber Life Nestle SA agreed to sell Gerber Life Insurance to closely held Western & Southern Financial Group for US$1.55 billion in cash as the world’s largest food company focuses on businesses like coffee, bottled water and pet care. Gerber Life had salesFULL STORY

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