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TSMC posts record-high annual profits

By Lisa Wang

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday posted a record-breaking net profit of NT$343.11 billion (US$11.61 billion) for last year, benefiting from robust chip demand for smartphones and cryptocurrency mining machines. That represented an annual growth of 2.65 percent fromFULL STORY

FSC to continue streamlining regulations: Koo

By Ted Chen

Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) yesterday said that the commission would continue to streamline its regulatory efforts as the amount of assets managed by the industry expand and become more complex, while outlining the goals of his office for this year. LastFULL STORY

CPC says Vietnam plant to start operating in 2019

By Kuo Chia-erh

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that its lubricant blending plant in Vietnam’s Dong Nai Province is scheduled to begin production by the end of next year, as it expands overseas in line with the government’s New Southbound Policy. The company plansFULL STORY

Gamania expects to continue benefitting from growing popularity of ‘Lineage M’

By Lauly Li

Online game publisher Gamania Digital Entertainment Co (遊戲橘子) yesterday said it expects to benefit this year from the growing popularity of its biggest online game, Lineage M, which hit several regional markets on Dec. 11. “The number of Lineage M’s registered members exceeded 3 million asFULL STORY

Bureau delays decision on charging station standards

By Lauly Li

The Industrial Development Bureau yesterday said it is postponing its decision on what the standard model for electric scooter charging stations is to be, after Gogoro Inc (睿能創意) and Kwang Yang Motor Co (光陽機車) proposed competing battery-swapping systems for the government’s nationwide charging station project. “ItFULL STORY

China beats forecast with 6.9% growth

The Chinese economy grew a forecast-beating 6.9 percent last year, picking up steam for the first time since 2010, despite its battles against massive debt and polluting factories, official data showed yesterday. The world’s No. 2 economy eclipsed the official target of about 6.5 percent andFULL STORY

S Korea considers closing virtual coin exchanges

South Korean policymakers yesterday joined the global chorus of virtual-coin critics, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime. “[The government] is considering both shutting down all local virtual currency exchangesFULL STORY

Apple to build second campus, hire 20,000 in US

Apple Inc is planning to build a new corporate campus and hire 20,000 US workers in an expansion driven in part by a tax cut that would enable the iPhone maker to bring an estimated US$245 billion back to its home country. The pledge announced onFULL STORY

Nintendo sparks debate over Switch accessories

Nintendo Co yesterday sparked fierce debate with a new line of cardboard DIY accessories for its smash-hit Switch console, delighting some fans, but leaving others bemused by the low-tech offering. The Nintendo Labo is a range of pre-perforated cardboard sheets that users fold into holders forFULL STORY

India to set up US$350m fund to finance solar projects

India plans to set up a US$350 million fund to finance solar projects, Indian Power Minister R.K. Singh said, as the nation steps up efforts to achieve its ambitious target of adding 175 gigawatts (GW) in renewable energy by 2022. India will need at least US$125FULL STORY

World Business Quick Take

INTEREST RATES Canada raises policy rate The Bank of Canada on Wednesday raised its benchmark interest rate by 25 basis points to 1.25 percent. The central bank said in a statement that while the economy was going strong, with jobs on the rise and inflation in check,FULL STORY

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