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Trade uncertainty could slow growth

By Crystal Hsu

The nation’s economy could lose some of its strength next year because of global trade protectionism, with GDP growth forecast to slow to 2.4 percent from an estimated 2.5 percent this year, as trade tensions and a global slowdown hurt demand for consumer products, S&PFULL STORY

Taiwan to lead in IC equipment spending: report

By Lisa Wang

Taiwan is expected to overtake South Korea and become the world’s largest semiconductor manufacturing equipment spender this year, with the figure soaring 53.3 percent year-on-year to US$15.58 billion, global industry association SEMI said in a report released yesterday. Taiwan’s strong growth would be a stark contrastFULL STORY

Tigerair Taiwan stock to debut on emerging board

By Kao Shih-ching

Tigerair Taiwan Co (台灣虎航), a low-cost carrier subsidiary of China Airlines Ltd (CAL, 中華航空), is on Monday to debut its shares on the Taipei Exchange’s Emerging Stock Board at NT$41 per share, making it the first budget carrier to be listed on the local bourse,FULL STORY

Fixed-asset investments hit record

By Natasha Li

Investments in fixed assets, excluding land, by the nation’s manufacturing sector hit a record NT$349.1 billion (US$11.44 billion) last quarter, led by accelerating investments from semiconductor companies, the Ministry of Economic Affairs said in a report on Tuesday. The electronic components industry topped the list, withFULL STORY

Securities transactions lift November tax revenue

By Crystal Hsu

The Ministry of Finance yesterday said it collected NT$210 billion (US$6.88 billion) in tax revenue for last month, a 1.7 percent increase from last year, driven by revenue from securities transactions. Tax revenue from securities transactions increased 29.8 percent to NT$8.9 billion last month, as averageFULL STORY

Taiwanese hold highest number of insurance policies

By Kao Shih-ching

The average Taiwanese holds 3.3 insurance policies, the highest in the world, followed by Chinese with three policies, Vietnamese and Indians with 2.7 policies, South Koreans with 2.3 policies and Japanese with 1.8 policies, a survey released yesterday by BNP Paribas Cardif showed. Despite holding theFULL STORY

Huawei CFO wins battle over papers

Huawei Technologies Co (華為) chief financial officer Meng Wanzhou (孟晚舟) is to get access to documents detailing the circumstances of her arrest in Canada at the request of the US, where she is sought on wire fraud and conspiracy charges. Meng claims she needs the documentsFULL STORY

US fines HSBC’s private Swiss banking arm

HSBC Holdings PLC’s Swiss private banking arm has agreed to fork over nearly US$200 million in unpaid taxes, improper fees and fines after confessing to helping Americans evade federal taxes, the US Department of Justice announced on Tuesday. “HSBC Switzerland conspired with US accountholders to concealFULL STORY

Saudi Aramco soars 10% on market debut

Saudi Arabian Oil Co (Aramco) shares yesterday began trading for the first time, gaining 10 percent in the first moments on the market and pushing its capital to US$1.88 trillion, making it the most valuable listed company in the world. The state-owned oil giant startedFULL STORY

Credit Suisse cuts profit goals amid trade tensions

Credit Suisse Group AG cut its main profitability target for this year and next, as trade tensions and negative interest rates cloud the outlook after a three-year restructuring. Switzerland’s No. 2 lender now sees return on tangible equity — a key profitability metric — of higherFULL STORY

Mexico, Canada, US finalize new trade agreement

The US, Mexico and Canada on Tuesday signed a deal to finalize their new trade agreement, paving the way to ratification after more than two years of arduous negotiations. However, the impeachment trial of US President Donald Trump in the US Senate would likely delay congressionalFULL STORY

ADB cuts growth forecasts for China, developing Asia

The Asian Development Bank (ADB) yesterday said it has lowered its growth forecasts for developing Asia for this year and next year, as a weaker outlook for China and India indicated softer economic activity elsewhere in the region. The bank trimmed its growth forecast for developingFULL STORY

World Business Quick Take

SOUTH KOREA Jobless rate rises further The unemployment rate ticked higher for a third month, an unexpected outcome that illustrates the challenge of boosting hiring in an economy struggling with slumping exports and weak investment. It climbed to 3.6 percent for last month, seasonally adjusted data fromFULL STORY

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