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Trade group blasts government policy

By Crystal Hsu

The nation has seen slow economic growth in recent years, with wages stalling and a general decline in competitiveness, while policymakers appear to be unable to come up with adequate responses to protests against major policies, a trade group said yesterday. The Chinese National Federation ofFULL STORY

TIER raises the nation’s growth forecast to 3.28%

By Amy Su

The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its economic growth forecast for Taiwan this year to 3.28 percent, from the 3.23 percent it estimated in April. Gordon Sun (孫明德), director of the think tank’s economic forecasting center, attributed the upward adjustment to theFULL STORY

Casetek says sales are likely to fall

By Helen Ku

Metal casing maker Casetek Holdings Ltd (鎧勝) yesterday said its sales this year are likely to fall by a single-digit percentage from the NT$36.54 billion (US$1.22 billion) it posted last year, as sales of client Apple Inc’s iPad slow in developed countries. The forecast predicts anFULL STORY

First offshore wind farms set for Changhua County

By Camaron Kao

Taiwan Generations Corp (永傳能源), which develops power plants, yesterday inked a deal with Fortune Electronic Co (華城電機) to build Taiwan’s first offshore wind farm 8km from the coast of Changhua County’s Fangyuan Township (芳苑). Taiwan Generations is to set up two offshore wind turbines by theFULL STORY

Ministry says consensus reached on capital gains tax

By Amy Su

The Ministry of Finance (MOF) has reached some consensuses with taxation experts on a new capital gains surcharge for property transactions, with plans to send a draft proposal to the legislature next year. BASIC AGREEMENT “All participants basically agreed with the proposal to impose a capital gainsFULL STORY

Competition catching up to tablet market leaders

By Kevin Chen

Lenovo Group Ltd’s (聯想) tablet computer shipments showed the strongest annual growth among the top five vendors in the second quarter, while smaller firms — including those known as “white-box” vendors — also saw their combined shipments reach an all-time high in the quarter, marketFULL STORY

Central bank to lure foreign investors with loans

By Amy Su

The government is expected to announce a new plan on Monday that will allow foreign portfolio investors to apply for NT-dollar loans from local financial institutions by using foreign currencies or foreign securities as guarantees, the central bank said yesterday. “The move will encourage foreign portfolioFULL STORY

China approves three new private banks: regulator

China has approved the setting up of three private banks, including one by Internet giant Tencent Holdings Ltd (騰訊), the industry regulator said yesterday, in a long-awaited economic reform aimed at bringing competition to state banking giants. Previously, China had just two privately-owned banks, Minsheng BankFULL STORY

Taiwan Business Quick Take

HTC’s brand awareness drops Taiwan’s HTC Corp (宏達電) has suffered a drop in brand awareness in the Chinese market over the past two years, according to market researcher TrendForce Corp (集邦科技). TrendForce said in a report that HTC’s brand awareness in China fell to 16 percentFULL STORY

IMF cuts worldwide growth forecast

The IMF warned on Thursday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China. After “negative surprises” from the US and China, the global economy is now expected to growFULL STORY

IATA promises action after black week for aviation

The International Air Transport Association (IATA) said yesterday it would “leave nothing unturned” to boost global aviation safety after a black week for the industry that has claimed over 460 lives in three separate crashes. IATA represents 240 airlines around the world that account for 84FULL STORY

Chinese tourism firm sues makers of ‘Transformers 4’

A Chinese tourism company is suing Paramount Pictures and a producer of the movie Transformers: Age of Extinction, saying they had failed to show the company’s logo in the movie. Like other Hollywood filmmakers, Paramount has been eager to cash in on robust box-office revenues inFULL STORY

Regulators probe Google over EU data protection

Google Inc’s handling of “right to be forgotten” requests from European citizens came under fire by regulators after the company restricted the removal of Internet links to European sites only, a person familiar with the matter said. Regulators quizzed Google over its decision to remove searchFULL STORY

Amazon predicts high losses for Q2 as heavy investing eats into bottom line

Amazon.com Inc posted a much larger than expected loss in the second quarter as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics. Amazon’s stock price has dropped 10 percent so far this year, with investors leery ofFULL STORY

World Business Quick Take

MACROECONOMICS Japan inflation rate dips Japan reported its inflation rate eased slightly last month as a sales tax high stunted demand. The government reported yesterday that the core consumer price index, which does not include prices for fresh foods, rose 3.3 percent last month, down from theFULL STORY

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