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FDI plummets after exceptional year

The value of government-approved foreign direct investment (FDI) in Taiwan plunged more than 31 percent in the first half of this year from a year earlier, due mainly to a high comparison base last year, the Investment Commission said. Approved FDI totaled US$3.77 billion duringFULL STORY

Bordeaux estate sold to Chinese property investor

A Chinese property investment company has acquired French wine estate Chateau Fauchey, on the right bank of the Garonne River southeast of Bordeaux, according to an e-mailed statement from Maxwell-Baynes-Vineyards, an affiliate of Christie’s International Real Estate. The estate comprises a 15th-century chateau along with 25FULL STORY

INTERVIEW: Energy transition risky, industry federation head says

Taipei Times (TT): Why is the Chinese National Federation of Industries (CNFI) worried about the government’s aim of phasing out nuclear power by 2025 to enhance safety in power generation? Mark Lin (林明儒): Taiwan lacks energy resources and depends heavily on imports to meet 98 percentFULL STORY

Refiners raise fuel prices as US oil inventory dwindles

State-owned refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it is raising its domestic gasoline prices by NT$0.3 per liter and diesel prices by NT$0.4 per liter today. The refiner said in a statement that the average cost of its crude oil rose to US$47.89FULL STORY

Seven states vie for Hon Hai factory

Taiwanese electronics maker Hon Hai Precision Industry Co’s (鴻海精密) plan to build a display panel factory in the US has sparked a flurry of lobbying by states vying to land what some economic development officials say is a once-in-a-generation prize. It is not just jobs thatFULL STORY

Softbank founder tells how deals fit

Masayoshi Son has had a busy year even by the standards of Japan’s most prolific investor. On Thursday in Tokyo, he took time to explain how it all fits together. In the past six months, Softbank Group Corp has invested in businesses ranging from ride sharing,FULL STORY

Taiwan Business Quick Take

MACROECONOMICS ADB raises Taiwan forecast Increased spending by consumers and a revival in exports led the Asian Development Bank (ADB) to revise its forecast for growth in Taiwan for this year to 2 percent, an increase of 0.2 percentage points, and to 2.2 percent next year. ThatFULL STORY

Saudi, Qatari assets converge on oil

Investors are not taking sides in the biggest political crisis in the Persian Gulf in decades because their focus has already returned to oil. Seven weeks after Saudi Arabia led a coalition of Arab states in cutting ties with Qatar over allegations that it supports terrorism,FULL STORY

Ireland sets up fund for Apple’s US$15bn in taxes

The Irish government is setting up a fund to manage the estimated 13 billion euros (US$15.2 billion) it is to collect from Apple Inc in back taxes nearly a year after the European Commission ruled it had offered the firm an unlawful tax deal Ireland andFULL STORY

Mobile payments in China triples to 38 trillion yuan

Yang Qianqian holds out her smartphone to scan a barcode on the mobile of a vendor selling fresh fruit and vegetables at a bustling outdoor market in Beijing. The dance student is part of an explosion in the use of mobile payment platforms in China asFULL STORY

Facebook rumored to be working on smartphone

Facebook Inc might be working on a smartphone, according to paperwork recently spotted by cybersleuths which the tech giant filed earlier this year. A Facebook unit devoted to hardware in January filed a patent application for a mysterious “modular electromechanical device” that could have speakers, cameras,FULL STORY

Three US airlines fined for violations

Three US airlines have agreed to each pay hundreds of thousands of dollars in fines to resolve government claims that they violated rules aimed at protecting consumers. The Transportation Department detailed the violations and the fines levied against American Airlines Group Inc, Delta Air Lines IncFULL STORY

World Business Quick Take

SOUTH KOREA Special budget approved The nation’s parliament approved an extra budget that had been caught up in a fight between the new government and the opposition for the past month. The 11 trillion won (US$9.8 billion) in extra spending is the centerpiece of South Korean PresidentFULL STORY

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