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UBS optimistic about local stockmarket

By Ted Chen

The near-term outlook for the local bourse appears “cautiously optimistic,” UBS Securities Pte Ltd said, citing concerns that liquidity uncertainties might rise on further interest rate hikes by the US Federal Reserve. Since the beginning of this year, liquidity has been one of the key driversFULL STORY

TAIEX could see light drop as shares go ex-dividend

Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is scheduled to go ex-dividend today, with the reference for its opening share price dropping by NT$7, or the equivalent of its dividend per share on last year’s earnings. Some investors are likely to wait for TSMC’sFULL STORY

INTERVIEW: Caesar hotels believes in Taiwanese hospitality

Taipei Times: Would you explain why Caesar Park Hotels and Resorts (凱撒飯店) plans to launch new properties in Greater Taipei in August, bucking general views that the industry is hard-pressed by an increasingly crowded field and a sharp decline in Chinese travelers? Jack Wu (武祥生): OurFULL STORY

Fuel prices to drop for fourth week in a row, CPC says

CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it is cutting fuel prices for the fourth consecutive week, starting today. The state-run refiner said it will lower the prices for gasoline and diesel products by NT$0.3 per liter, as global oil prices dropped last week onFULL STORY

Chinese drone king turns to farming

Chinese drone maker Da-Jiang Innovations Technology Co (DJI, 大疆創新科技) is betting on flying machines that shoot pesticide instead of photographs to fend off growing competition in the global remote-controlled aircraft market. The world leader in the civilian drones sector is switching its focus from leisure photographyFULL STORY

Shoemakers urged to tackle abuse

Leading shoe and designer clothing labels, including Nike Inc and Puma AG, have made progress in tackling forced labor in their leather supply chains, but could do more to address the issue at tanneries and ranches providing hides, according to a study. It raised particular concernFULL STORY

China probes Taiwanese firms for alleged dumping

China has launched an investigation into allegations that Taiwanese exporters of styrene monomer (SM) are selling their products at unfairly low prices in China, the Ministry of Economic Affairs said. The ministry quoted a notice issued on Friday by Beijing as saying that the investigationFULL STORY

Taiwan Business Quick Take

GOVERNMENT Uber payments withheld The Administrative Enforcement Agency on Friday ordered 33 credit-card-issuing banks to withhold payments collected on behalf of Uber Technologies Inc in a compulsory execution of back fines and taxes owed by the US-based ride-sharing service. Banks that oppose the order can file aFULL STORY

Abe to push for UK trade talks

Japan wants to hold informal free-trade talks with Britain as it also works to sign a deal with the EU, a report said yesterday. Tokyo’s moves aim to minimize Brexit’s impact on Japanese companies as Britain negotiates its exit from the EU, the Japanese business dailyFULL STORY

Greece struggles to execute public home auctions

The scene has become familiar in Greece in recent months — a middle-aged woman in a courthouse, trying to dodge an angry crowd shouting centimeters from her face. “Get out, crow,” is the usual cry at notaries — in most cases women — seeking to carryFULL STORY

Craftsmen make way for Taj Mahal

Hanuman Prasad Garg does not blame rising fuel prices or pressure from cheap knock-offs for the slow demise of the glass industry, where Indian artisans have forged bangles for centuries. He blames the Taj Mahal. The ancient glass quarter in Firozabad never recovered after authorities blamedFULL STORY

Mayner’s designs play with motives from Israeli life

Designer Hed Mayner is not afraid to play with the totems of Israeli life, from a trench coat made from a military tent to a sleeveless beach top cut from a Jewish prayer shawl. The 30-year-old from a hippyish village in northern Israel’s Galilee joyously mixedFULL STORY

Buffett bullish on Canada, but not on housing market

Warren Buffett may have thrown a lifeline to embattled Canadian alternative lender Home Capital Group Inc, but that does not mean he is as enthused about the nation’s soaring housing markets. “I’m bullish on Canada,” Buffett said, according to a transcript Toronto’s Globe and Mail publishedFULL STORY

Illinois expected to be downgraded to ‘junk’ credit status

Illinois is on track to become the US’ first state to have its credit rating downgraded to “junk” status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come. S&P Global Ratings has warned that the agency will likely lower Illinois’ creditworthinessFULL STORY

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