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Think tank expects GDP to rise 2.1%

By Crystal Hsu

Yuanta-Polaris Research Institute (元大寶華綜經院) yesterday raised its GDP growth forecast for this year to 2.1 percent — from the 1.8 percent it made three months earlier — on expectations that the nation’s export-oriented economy would benefit from an upturn in the global technology cycle andFULL STORY

E Ink reports operating profit on strategic change

By Lisa Wang

E Ink Holdings Inc (元太科技), which supplies e-paper displays for amazon.com’s and Rakuten Kobo Inc’s e-reader series, yesterday reported its first operating profit in five years as a major product revamp started bearing fruit. During the five-year span, E Ink had been reliant on royalty feesFULL STORY

Simplo to reduce capital, return NT$4 per share

By Lauly Li

Battery pack manufacturer Simplo Technology Co (新普科技) yesterday announced plans to cut its capitalization by 40 percent to adjust its capital structure and return NT$4 in cash per share to stockholders. The plan, which will see the company’s capitalization drop from NT$1.23 billion (US$40.62 million)FULL STORY

Patec profits skyrocket on 30.5% sales growth last year

By Kuo Chia-erh

Patec Group (百達), a Singapore-based auto components supplier, yesterday said it would start to tap the medical instrument market this year. “The company is scheduled to start shipping medical instrument sterilization containers in August,” chief executive officer Michael Wee (黃亮茳) told an investors’ conference in TaipeiFULL STORY

Shanghai Bank eyeing firms in growth sectors

By Crystal Hsu

Shanghai Commercial and Savings Bank (上海商業儲蓄銀行) aims to grow its loan book by a double-digit percentage this year, as it seeks to strengthen ties with companies on the government’s list of growth industries, top executives said yesterday. “We are looking to increase corporate banking by NT$60FULL STORY

EU stops Deutsche Boerse, LSE merger

EU regulators yesterday dealt a final blow to Deutsche Boerse AG’s planned takeover of London Stock Exchange Group PLC (LSE), a symbolic block on EU-UK integration on the same day Britain formally served notice of its decision to quit the EU. The US$14 billion deal toFULL STORY

Toshiba’s US nuclear division files bankruptcy

Toshiba Corp’s lossmaking US nuclear unit Westinghouse Electric Co (WEC) has filed for bankruptcy protection, the companies said yesterday, as the troubled division wrestles with huge losses and accounting fraud claims. The Japanese conglomerate’s board approved the Chapter 11 filing in a US court inFULL STORY

Vietnam’s GDP growth slows on Samsung cuts

Vietnam’s economy grew at a slower pace than economists estimated in the first quarter as industrial output eased and Samsung Electronics Co cut production of smartphones. GDP rose 5.1 percent from a year earlier, the Vietnamese General Statistics Office said in Hanoi yesterday. That wasFULL STORY

Huishan turmoil highlights China’s shadow loan risk

Turmoil at a small Chinese dairy company is shedding rare light on the final destination for some of the nation’s estimated US$8 trillion of shadow banking loans. Jilin Jiutai Rural Commercial Bank Corp (吉林九臺農村商業銀行), a major creditor to embattled China Huishan Dairy Holdings Co (中國輝山乳業), saidFULL STORY

Anbang, Kushner end talks over Manhattan project

China’s Anbang Insurance Group Co (安邦保險集團) and a company co-owned by the family of US President Donald Trump’s son-in-law Jared Kushner have ended talks to redevelop a Manhattan office tower, a deal that had drawn scrutiny from lawmakers citing ethics concerns. “Kushner Companies is no longerFULL STORY

World Business Quick Take

AIRLINES Delta, Korean Air ink MOU Delta Air Lines Inc and Korean Air Lines Co yesterday agreed to form a joint venture to share costs and revenue on flights across the Pacific Ocean in a bid to lure customers with more options amid intense competition. The twoFULL STORY

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