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TSMC lowers sales growth target

By Lisa Wang

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday lowered its revenue growth forecast for this year to 6.5 percent, owing to flagging demand from China for chips used in cryptocurrency mining tools. That marked the second downward revision after the Hsinchu-based chipmakerFULL STORY

PChome expects sales to double on Double 11

By Ted Chen

PChome Online Inc (網路家庭) expects to increase sales twofold during next month’s Double 11 e-commerce shopping event, executives said yesterday. The company has extended this year’s shopping event from four to five days and expects to make NT$3 billion (US$96.85 million) in sales, up from NT$1.5FULL STORY

Lank Bank, Ting Sin sign NT$900m syndicated loan

By Crystal Hsu

State-owned Land Bank of Taiwan (土地銀行) yesterday inked a syndicated loan agreement with aluminum alloy supplier Ting Sin Co (廷鑫興業) to fund its operations. The five-year syndicated loan, valued at NT$900 million (US$29.1 million), is also intended to help pay down the Taichung-based firm’s debts,FULL STORY

Sinjhuang housing market receives a boost from improving infrastructure

By Crystal Hsu

Encouraged by an improving infrastructure, developers have been launching new projects in New Taipei City’s Sinjhuang District (新莊), as the Taipei MRT’s circular line is expected to start service before the end of this year. Construction of a 15.4km section of the circular line, also knownFULL STORY

Insurers improving suspicious transaction reports

Taiwan enacted the Money Laundering Control Act (洗錢防制法) in 1996, the first law in the Asia-Pacific region designed to prevent money laundering. To keep up with international money laundering prevention developments and in response to the heavy fine imposed on a Taiwanese financial institution inFULL STORY

China not manipulating currency: US

Washington on Wednesday again declined to call China a currency manipulator, but said the yuan’s fall and Beijing’s exchange practices were of “particular concern.” In putting Beijing and five other US trading partners on notice, the US Department of the Treasury once more refrained from escalatingFULL STORY

Despite criticism, Fed sees need for more rate hikes

US Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite US President Donald Trump’s view that interest rate hikes have already gone too far. Every Fed policymaker backed the central bank’s decisionFULL STORY

Trump to withdraw US from global postal treaty

US President Donald Trump plans to withdraw the US from a 192-nation treaty that gives Chinese companies discounted shipping rates for small packages sent to US consumers, another escalation of his economic confrontation of Beijing. US officials said the administration sought to revise the treaty lastFULL STORY

Four public investment funds join call for independent chairman at Facebook

Four public investment fund officials on Wednesday joined a call to install an independent chairman at Facebook Inc, saying that the move would improve governance and accountability at the world’s biggest social network. The state treasurers of Illinois, Rhode Island and Pennsylvania, as well as theFULL STORY

Singapore cracks down on shoe-box sized apartments in blow to developers

Singapore has cracked down on the number of “shoe-box sized” apartments developers can build, in another blow to profitability. New guidelines on unit size effectively cut the maximum number of apartments allowed in developments by 18 percent. The changes will affect projects outside the city-state’s centralFULL STORY

‘No end in sight’ to escalating trade war: WTO head

Escalating trade wars “pose real risks” to the global economy, potentially threatening millions of jobs, WTO Director-General Roberto Azevedo said in a speech in London on Wednesday. US President Donald Trump is locked in a trade war with China, rolling out billions of US dollars inFULL STORY

World Business Quick Take

JAPAN Surplus with US shrinks The nation’s trade surplus with the US shrank for the third consecutive month, according to official data published yesterday. The surplus came in at ¥590.3 billion (US$5.2 billion) last month. The nation logged an overall global trade surplus of ¥139.6 billion, theFULL STORY

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