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Manufacturing pace continues to slow

By Amy Su

Manufacturing activity slowed for the second straight month last month, as companies expressed concerns over lower-than-expected seasonal demand in the near-term future, according to a report released yesterday by the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院). The official purchasing managers’ index (PMI) slid 2.1 pointsFULL STORY

Some CGT funds could go toward social housing

By Amy Su

The government may consider allocating a certain proportion of revenue generated by the planned capital gains tax (CGT) on property transactions to help fund the construction of social housing, Minister of Finance Chang Sheng-ford (張盛和) told lawmakers yesterday. Chang made the remarks in response to oneFULL STORY

Chunghwa unveils new mobile payment service

By Lisa Wang

Chunghwa Telecom Co (中華電信) yesterday unveiled the nation’s first mobile payment service in collaboration with several local banks and credit card company MasterCard Inc, allowing users to shop by simply swiping their phones. The nation’s largest telecommunications operator expanded its mobile wallet service — similar toFULL STORY

Demand high for Taipei commercial property rentals

By Crystal Hsu

Vacancy rates for upscale offices in Taipei dropped further last quarter, while rents climbed modestly as office demand increased and the economy improved, real-estate services provider Jones Lang LaSalle said in a quarterly report released yesterday. The pickup came even though commercial property pricesFULL STORY

Real-estate buyer transactions drop 20 percent in year

By Crystal Hsu

Real-estate transactions in four of the nation’s five major municipalities plunged by 20 percent last month from a year earlier, though Taipei staged a rebound after emerging from Ghost Month disruptions, local government data showed yesterday. The figures affirmed a sluggish market in the lead-up toFULL STORY

Largan purchase eases concern

By Kevin Chen

Camera lens supplier Largan Precision Co’s (大立光) recent purchase of a plot of land at the Taichung Precision Machinery Science and Technology Innovation Park should ease investors’ concerns about the company’s capacity constraints, CIMB Securities Ltd said in a client note. Earlier this week, Largan announcedFULL STORY

HTC marketing head quits

By Kevin Chen

Ben Ho (何永生) yesterday formally stepped down as chief marketing officer of HTC Corp (宏達電), nearly three months after speculation about his resignation first emerged. The Taiwanese smartphone maker confirmed Ho’s resignation in a filing with the Taiwan Stock Exchange, saying the company is in theFULL STORY

Bond recovery prospects dim after quarterly loss

Local bonds are showing little prospect of recovery after being the only government securities in emerging Asia to hand investors a loss in the third quarter. Yields on Taiwan’s 10-year notes will climb eight basis points to 1.8 percent by year-end, said Stone Chang (張世東), whoFULL STORY

Taiwan Business Briefs

CPC unveils gas prices State-run refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced no price changes for liquefied petroleum gas (LPG) this month, but said it would cut prices per cubic meter of liquefied natural gas (LNG) by 1.58 percent on average from last month, accordingFULL STORY

EBay split to give PayPal independence

US online retail giant eBay Inc unveiled plans on Tuesday to spin off PayPal, aiming to help the unit compete better in the fast-moving online payments segment. The plan, to take effect next year, comes after months of pressure led by activist investor Carl Icahn, whoFULL STORY

Apple risks huge tax rebate: EU

Apple Inc risks having to repay Ireland tax rebates worth billions of dollars after the EU’s competition watchdog said on Tuesday the company appears to be benefiting from illegal tax deals there. In a preliminary report into the company’s overseas tax practices, the 28-nation bloc’s executiveFULL STORY

Users to get cut of Reddit’s US$50m

Social news sharing site Reddit on Tuesday announced it had raised US$50 million from investors who agreed that, this time, members of its community would get a piece of the action. The infusion of funding led by Y Combinator president Sam Altman and joined by rapperFULL STORY

US$300m payout to end Brazil cotton trade case

The US is to pay Brazilian cotton producers US$300 million to settle a decade-old dispute over cotton subsidies, two officials familiar with the settlement said on Tuesday, in what is the first concrete step to repair ties hurt by an espionage scandal. The agreement was formallyFULL STORY

News Corp to buy real-estate listings site Move

News Corp, the publishing company controlled by Rupert Murdoch, agreed on Tuesday to buy Move Inc, an operator of real-estate listings Web sites, for US$950 million in cash, as the newspaper publisher continues to branch out into new businesses. The transaction is the latest, and largest,FULL STORY

World Business Quick Take

MANUFACTURING Confidence up in Japan Confidence among major Japanese manufacturers improved in the last quarter after a precipitous drop in the previous three months, a Bank of Japan survey showed yesterday. The survey showed confidence among large manufacturers stood at plus 13, up one point from theFULL STORY

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