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SGRE breaks ground at Taichung port

By Natasha Li

Wind turbine manufacturer Siemens Gamesa Renewable Energy SA (SGRE) yesterday unveiled its nacelle assembly facility in Taichung — the Spanish company’s first outside Europe. After Danish energy company Orsted A/S in June placed an order of wind turbines for its 900 megawatt (MW) wind farm projectFULL STORY

Synnex inks early-bird deal on new space

By Crystal Hsu

Synnex Technology International Corp (聯強國際) yesterday inked a deal to buy office space from Nankang Rubber Tire Corp (南港輪胎), which is turning an old factory site in Taipei’s Nangang District (南港) into an upscale mixed-use complex. The electronics distributor, its affiliate Winbond Electronics Corp (華邦電) andFULL STORY

China to overtake Taiwan in chipmaking equipment

By Lisa Wang

China is set to become the world’s largest semiconductor equipment market next year for the first time, outstripping Taiwan, propelled by aggressive equipment investments by Tsinghua Unigroup Ltd (清華紫光) and other Chinese foundry companies, the international trade group SEMI said yesterday. China is expected to boostFULL STORY

Optical lens industry’s output rises 13.9 percent

By Natasha Li

Taiwan’s optical lens industry generated a total production value of NT$31.6 billion (US$1.02 billion) in the first half of the year, up 13.9 percent year-on-year, the Ministry of Economic Affairs said yesterday. It credited the gain to the increasing popularity of multiple-camera smartphones and a growingFULL STORY

Investors give five fintech start-ups at least US$1 million

By Kao Shih-ching

Five fintech start-ups have raised more than US$1 million each and set up partnerships with traditional financial companies, the Taiwan Financial Services Roundtable (TFSR) said yesterday. They are artificial intelligence service provider Eyes Media Co Ltd (艾斯移動), payment platform company Installments Inc (Insto, 台灣盈士多), fundFULL STORY

No domestic oil shortage expected, Formosa says

Formosa Petrochemical Corp (台塑石化) yesterday said that while oil facilities in Saudi Arabia were hit by drone attacks over the weekend, the domestic market is not expected to suffer a shortage. The company said the worst-case scenario is that the nation would have to cut itsFULL STORY

Win Semi eyes 14% expansion

By Lisa Wang

Win Semiconductors Corp (Win Semi, 穩懋半導體), the world’s largest compound semiconductor foundry, yesterday said it plans to expand its capacity next year by 14 percent year-on-year, as its factory utilization rate has reached 100 percent due to improved customer demand. The company plans to add 5,000FULL STORY

Trade tensions clouding outlook in Asia: Moody’s

By Crystal Hsu

Escalating trade tensions between the US and China are to further cloud the trade and economic outlook in Asia, with a predominantly negative effect at a sector level, Moody’s Investors Service said in a report released yesterday. However, US importers would continue to divert orders awayFULL STORY

Taiwan Business Quick Take

EQUITIES Easing fears boost shares Local shares yesterday closed higher and the TAIEX moved closer to 10,900 points as market sentiment improved amid easing fears over trade tensions between the US and China. While select large-cap technology shares attracted buying, in particular in the late trading session,FULL STORY

Oil prices see biggest intraday jump

Bloomberg Oil posted its biggest-ever intraday jump, briefly surging above US$71 a barrel after a strike on a Saudi Arabian oil facility removed about 5 percent of global supplies and raised the specter of more destabilization in the region. In an extraordinary start to trading yesterday, London’sFULL STORY

UAW launches strike against GM in US

The United Auto Workers (UAW) union yesterday began a nationwide strike against General Motors Co (GM), with about 46,000 members walking off the job after contract talks hit an impasse. The move to strike, which the Wall Street Journal described as the first major stoppage atFULL STORY

VW to pay up to A$127m to settle class-action suit

Volkswagen AG (VW) has agreed to pay up to A$127 million (US$87 million) to settle an Australian class action stemming from the 2015 diesel emissions scandal, the German automaker and a lawyer said yesterday. The settlement was announced in the Federal Court in Sydney by lawFULL STORY

Purdue files for bankruptcy to settle opioid cases

Purdue Pharma LP has filed for bankruptcy in a settlement agreement that it hopes will provide more than US$10 billion to address the opioid crisis, the company said in a statement on Sunday. The pharmaceutical giant, whose prescription painkiller OxyContin is blamed for much of theFULL STORY

PRC’s slowdown deepened in August

The slowdown in China’s economy deepened last month, with industrial production growing at its weakest pace in 17-and-a-half years amid rising US trade pressure and softening domestic demand. Retail sales and investment gauges also worsened, data showed yesterday, reinforcing views that China is likely to cutFULL STORY

World Business Quick Take

TRADE No taste for Japanese brews South Korean imports of Japanese beer slumped almost to zero last month in the face of a consumer boycott sparked by a trade and historical dispute between Seoul and Tokyo, Korea Trade Statistics Promotion Institute (KTSPI) data showed yesterday. Japanese companiesFULL STORY

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