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Earnings may be key to CHB board vote

By Crystal Hsu

State-run Chang Hwa Commercial Bank’s (CHB, 彰化銀行) government-appointed board members yesterday said that significant earnings improvement have made them confident of maintaining management rights as the lender prepares for board of directors elections later this year. The move is expected to rile the largest shareholder, TaishinFULL STORY

Steelmakers praise import tax extension

By Kuo Chia-erh

Local steelmakers yesterday welcomed the government’s decision to extend anti-dumping taxes on imports from six countries by five years, which is expected to curb unreasonably low prices for steel imports. The Ministry of Finance on Monday announced the continuation of anti-dumping duties on carbon steel platesFULL STORY

Housing market expected to remain soft despite tax

By Crystal Hsu

Continental Development Corp (大陸建設) is planning NT$40 billion (US$1.3 billion) of new housing projects this year, similar to last year’s volume, as the market is expected to remain soft amid a slow recovery, top-ranking officials said on Tuesday evening. The projects are planned for popular Taipei,FULL STORY

Far Eastern Group begins mobile payment platform

By Ted Chen

Far Eastern Group (遠東集團) yesterday launched a mobile payment platform to leverage its extensive retail operations and establish itself as an early mover in the field. Developed by Far Eastern International Bank (遠東商銀), the platform integrates electronic wallet apps and mobile payment tools with theFULL STORY

Advantech to base gains on ‘smart’ manufacturing

By Lisa Wang

Advantech Co (研華), the world’s largest industrial computer maker, yesterday said it aims to increase its revenue this year by a double-digit percentage, driven by the fast-growing “smart” manufacturing business sector. Advantech reported revenue of NT$42 billion (US$1.4 billion) for last year, up 10.53 percent fromFULL STORY

Chang Kuo-wei outlines plans for own airline venture

By Ted Chen

Former EVA Airways Corp (長榮航空) chairman Chang Kuo-wei (張國煒) plans to re-enter the airline industry with his own venture, according to Chinese-language Next Magazine. The new venture, Star Airlines (星宇航空), is to be established before the end of this year with NT$2 billion (US$64.98 million) ofFULL STORY

HK hands out generous budget on better outlook

Hong Kong yesterday handed out billions in tax cuts and poverty relief to stimulate its economy, which is expected to grow more strongly than expected at 2 percent to 3 percent this year, despite headwinds from rising global trade protectionism. Hong Kong Financial Secretary Paul ChanFULL STORY

Airbus forecasts improved profit

Airbus Group SE said profit would increase this year as it regains control over costs and production challenges from a switch to the latest A320 narrow-body aircraft and increased output of the A350 twin-aisle model. The company still major faces issues with the delayed A400M militaryFULL STORY

China’s home prices rise in fewest cities in a year

Chinese home prices last month increased in the fewest cities in a year, signaling property curbs to deflate a potential housing bubble are taking effect. New home prices, excluding government-subsidized housing, last month gained in 45 of the 70 cities tracked by the government, down fromFULL STORY

Taiwan Business Quick Take

TAIWAN Trade competitiveness falls The nation’s trade competitiveness fell for a fourth consecutive year, dropping one notch to 16th in the rankings compiled by the Importers and Exporters Association of Taipei released yesterday. The drop was seen in this year’s survey on global trade environment and growthFULL STORY

Yahoo saves Verizon deal with discount

Yahoo is taking a US$350 million hit on its previously announced US$4.8 billion sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts. The revised agreement, announced on Tuesday, eases investor worries that VerizonFULL STORY

US treasury secretary tells IMF to watch currencies

US Secretary of the Treasury Steven Mnuchin on Tuesday called on the IMF to provide “candid analysis” of exchange-rate policies in member countries. Mnuchin spoke by telephone with IMF managing director Christine Lagarde in what was among the first contacts between the fund and the administrationFULL STORY

Melco to spend ‘whatever it takes’ on Japan casino deal

Melco Crown Entertainment Ltd has upped the ante against its casino rivals to win the chance to build a casino resort in Japan, declaring there is no limit on how much the company is prepared to invest. “This opportunity is priceless and we’ll spend whatever itFULL STORY

Australia sells A$11bn of bonds in its biggest-ever sale despite rating concerns

The Australian government sold A$11 billion (US$8.5 billion) of 11-year debt notes in its biggest-ever bond transaction, as investors hungry for higher yields set aside concerns stubborn budget deficits will cost the nation its “AAA” credit rating. It is the third time in less than sixFULL STORY

PSA vows to honor Opel, Vauxhall job guarantees

PSA Group told German Chancellor Angela Merkel and top labor representatives that it would uphold Opel and Vauxhall job guarantees if it buys the European arm of General Motors Co (GM), though some analysts say thousands of job losses are likely eventually. As part of aFULL STORY

World Business Quick Take

BANKING Senior Wells Fargo staff fired Wells Fargo’s board of directors fired four senior managers as part of its investigation into the bank’s sales practices scandal. Tuesday’s announcement is the first public firing of managers and executives since the bank acknowledged in September last year that itsFULL STORY

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