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Electronics decline weighs down output

By Crystal Hsu

The nation’s industrial output contracted 1.8 percent last month from a year earlier as demand for electronics weakened amid a low sales season for technology products and a global economic slowdown, the Ministry of Economic Affairs said yesterday. The critical economic index fell to 86.15 lastFULL STORY

Far EasTone looks to ‘new economy’ for revenue

By Lisa Wang

Far EasTone Telecommunications Co Ltd (遠傳電信) aims to boost the revenue contribution of “new economy” services to 20 percent over the next three to five years to limit the impact of eroding traditional services, the telecom said yesterday. To stem a revenue slide, Far EasTone lastFULL STORY

Cathay United plans Alipay scan for Airport MRT fare

By Kao Shih-ching

Cooperation with Alipay (支付寶) would enable Cathay United Bank (國泰世華銀行) customers to ride on the Taiwan Taoyuan International Airport Mass Rapid Transit (MRT) line by scanning a code with a mobile device, a service expected to launch by the fourth quarter of this year, theFULL STORY

New system a bigger change for day traders, but better

By Kao Shih-ching

Next year’s launch of a continuous trading system would affect day traders and institutional investors the most, as the new mechanism would generate multiple trading prices at any given time, the Taiwan Stock Exchange (TWSE) said yesterday. “Day traders, who aim to buy low and sellFULL STORY

Wistron posts best net profit in four years

By Lisa Wang

Wistron Corp (緯創), one of the assemblers of Apple Inc iPhones, yesterday said net profit last year reached the highest in four years as gross margin climbed thanks to improved product portfolios. Net income soared 26.33 percent to NT$4.91 billion (US$159.26 million), compared with NT$3.89 billionFULL STORY

IHG planning to open more Taiwan properties

By Crystal Hsu

InterContinental Hotels Group PLC (IHG) is aiming to open more properties in Taiwan as part of a plan to augment its presence in Asia, attracted by the region’s fast-growing economies and wealth. The British hospitality company, which operates 5,603 hotels under 15 brands around the world,FULL STORY

Soil liquefaction database updated

More than 1,000km2 of land has been added to an online government database of areas prone to soil liquefaction, a Ministry of Economic Affairs statement said yesterday. The statement, issued by the Central Geological Survey, includes information on up to 1,667.6km2 of land in northern Tainan,FULL STORY

CSC to raise salaries by 3.5%, replace turbines

By Chen Cheng-hui

China Steel Corp (CSC, 中鋼), the nation’s biggest steelmaker, yesterday agreed at a board meeting to a 3.5 percent increase in salaries this year, effective from Monday next week, as well as an investment of NT$2.59 billion (US$84 million) to replace steam turbine blowers atFULL STORY

Taiwan Business Quick Take

AUTO PARTS Hiroca income falls 29.58% Automotive components maker Hiroca Holdings Ltd (廣華控股) yesterday reported net income of NT$546.11 million (US$17.71 million) for last year, down 29.58 percent from a year earlier due to higher operating expenses, impairment charges and foreign-exchange losses. Earnings per share were NT$6.51.FULL STORY

Survey of economists sees US slowdown

The nation’s business economists foresee a sharp slowdown in US economic growth over the next two years, in sharp contrast to predictions by US President Donald Trump’s administration that growth is to accelerate this year and next. That finding comes from a survey being released todayFULL STORY

Evans says US Fed must ease if downsides occur

The US Federal Reserve might have to put interest-rate increases on hold or even ease monetary policy if economic forecasts for this year disappoint, Chicago Fed President Charles Evans said. “At the moment, the risks from the downside scenarios loom larger than those from the upsideFULL STORY

Apple invites Hollywood to Silicon Valley in TV push

Apple Inc led many to believe that it would finally lift the curtain yesterday on a secretive, years-long effort to build a television and movie offering designed to compete with big media companies and boost digital services revenue as iPhone sales taper. “It’s show time” isFULL STORY

Uber to seal Careem deal

Uber Technologies Inc is set to announce a US$3.1 billion cash-and-share deal to acquire its Dubai-based rival Careem Networks FZ as early as this week, people with knowledge of the matter said. The US ride-hailing giant would pay US$1.4 billion in cash and US$1.7 billion inFULL STORY

Fake Range Rovers barred in rare Chinese court win

A Chinese copycat of the Range Rover Evoque has been banished from driveways in China, a rare legal victory for foreign companies locked in intellectual property disputes with local companies. A court in Beijing ordered Jiangling Motors Corp (江鈴汽車) to immediately stop making and selling theFULL STORY

Lira rebounds as Erdogan warns bankers

The Turkish lira rebounded, recouping losses after its worst day since a crash last year as the central bank reiterated its pledge to maintain price stability and said that it was determined to accumulate reserves. Policymakers are probably seeking to end speculation that the Central BankFULL STORY

World Business Quick Take

REFINING Sinopec profits surge Chinese energy giant Sinopec Corp (中國石油化工), the world’s largest oil refiner, yesterday said its annual profit last year soared by almost a quarter thanks to growing domestic demand for natural gas. Sinopec’s profit grew 23.4 percent to 63.1 billion yuan (US$9.4 billion), theFULL STORY

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