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TIER raises GDP growth forecast

By Crystal Hsu

The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday slightly raised its forecast for the nation’s GDP growth this year to 2.08 percent, from a previous projection of 2.04 percent, as exports regain growth momentum after slowing in the second quarter. The planned launches of next-generationFULL STORY

Eclat investing in plant for digital textile printing

By Kuo Chia-erh

Eclat Textile Co (儒鴻) yesterday said it plans to spend between NT$800 million and NT$1 billion (US$26.35 million and US$32.94 million) to build a new plant in Taiwan this year to produce higher-margin digitally printed textile products. The textile and garment manufacturer said its new facilityFULL STORY

Powertech posts 25% rise in net profit

By Lisa Wang

Memorychip tester and packager Powertech Technology Inc (力成科技) yesterday posted 25 percent annual growth in net profit for last quarter, thanks to seasonally robust demand and contribution from a new plant in Xian, China. Net profit jumped to NT$1.41 billion (US$46.44 million) in the quarter endedFULL STORY

Chunghwa Post fraud case could lead to penalties

By Ted Chen

In the wake of allegations of insurance fraud against a Chunghwa Post Co (中華郵政) clerk, the Financial Supervisory Commission (FSC) yesterday said it was mulling punitive measures against the firm. An employee at a post office in New Taipei City’s Ruifang District (瑞芳) has for theFULL STORY

Solar plants shaped like pandas being built on ’Silk Road’

In a country where you can find everything from chopsticks to slippers designed to look like pandas, one Chinese energy company is going a step further by building 100 solar farms shaped like the bears along the route of the ambitious “One Belt, One Road”FULL STORY

US dominates Taiwan’s imported technology costs

Taiwan depends heavily on US technology, with the US accounting for almost 80 percent of the nation’s total imported technology costs, the Ministry of Economic Affairs (MOEA) said yesterday in its latest report on costs of imported technology and exported revenue. The cost of imported technologyFULL STORY

SK Hynix’s profit rises 763% to hit record level

South Korean chipmaker SK Hynix Inc posted record profit in the second quarter of this year, the company said yesterday, as strong demand for its memory chips used in PCs and servers drove up prices. The Apple Inc supplier’s best-ever quarterly figures were boosted by growthFULL STORY

Amazon expands UK headquarters

Amazon.com Inc is expanding the size of its new UK headquarters to support the growth of its Prime Video service in Europe. The world’s largest online retailer is to occupy the entire 15 floors of the newly constructed tower on the edge of London, after initiallyFULL STORY

Air Asia confirms plans to list on the main index

By Ted Chen

Tainan-based Air Asia Co Ltd (亞洲航空), a leading aircraft maintenance, repair and overhaul company servicing both the civilian and military markets, yesterday confirmed that it is seeking to have its shares advance from the Taipei Exchange’s Emerging Stock Market to the TAIEX. Although the decision gainedFULL STORY

Taiwan Business Quick Take

BANKING Construction loans inch up Construction loans last month totaled NT$1.668 trillion (US$54.94 billion), an increase of 0.36 percent, or NT$6 billion, from NT$1.662 trillion the previous month, the central bank said in a statement yesterday. The increase reflected a mild improvement in business confidence on theFULL STORY

Alphabet quarterly profit hurt by fine

Google parent Alphabet on Monday reported a quarterly profit of US$3.5 billion, in a sharp decline from a year ago, with a massive fine by the European Commission biting into earnings. The technology giant reported that revenue grew to US$26 billion in the recently ended quarter,FULL STORY

Lagarde floats idea of moving IMF to Beijing

The IMF could be based in Beijing in a decade if growth trends for China and other big emerging markets continue and these are reflected in the fund’s voting structure, IMF managing director Christine Lagarde said on Monday. Lagarde said at a Center for Global DevelopmentFULL STORY

S Korea aims for more labor-friendly growth

South Korea’s new administration is shifting gears to achieve a fair and labor-friendly economy after decades of export-driven growth led by big businesses left many behind in economic prosperity. In a five-year economic plan released yesterday, the South Korean Ministry of Strategy and Finance said nationFULL STORY

Qualcomm criticizes tech lobbying group in the US

Qualcomm Inc on Monday fired back in its case against Apple Inc, accusing its critics of waging a “coordinated effort aimed at misdirecting” trade regulators. Earlier this month, Qualcomm filed a complaint with the US International Trade Commission seeking to ban iPhones that use chips “otherFULL STORY

Alibaba reportedly seeking big stake in PT Tokopedia

Alibaba Group Holding Ltd (阿里巴巴) is in talks to make a major investment in Indonesia’s PT Tokopedia, people familiar with the matter said, potentially scoring a second deal to accelerate its expansion into Southeast Asia’s largest economy. The Chinese company is in negotiations to lead aFULL STORY

Michael Kors buys Jimmy Choo for US$1.2 billion

Michael Kors Holdings Ltd agreed to buy Jimmy Choo PLC for about £896 million (US$1.2 billion), as the maker of handbags popular with the commuter set seeks to restore lost luster by adding Sex and the City stilettos. The purchase of Jimmy Choo, Michael Kors’ firstFULL STORY

World Business Quick Take

AVIATION Boeing signs with Dassault US aerospace giant Boeing has signed a billion-dollar contract with French industrial software company Dassault Systemes to modernize its production system, Le Figaro newspaper reported yesterday. “Boeing has signed a 30-year contract worth a billion dollars, renewable every 10 years,” Le FigaroFULL STORY

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