BARGAIN BASEMENT: The Central Deposit Insurance Corp reached a deal with Europe's largest financial group, with HSBC netting 39 branches and a sizable subsidy
By Joyce Huang
The Central Deposit Insurance Corp (CDIC) yesterday emptied its pockets to dispose of The Chinese Bank (中華銀行), agreeing to pay NT$48 billion (US$1.47 billion) to buyer HSBC (匯豐銀行).

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By Kevin Chen
The acquisition of The Chinese Bank (中華銀行) is expected to raise HSBC Holdings Plc's local market share from 1.2 percent to 1.6 percent, Citigroup analysts Bradford Ti (鄭溫煌) and Janet Lu said in a note to investors yesterday.

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By Joyce Huang
Encouraged by robust exports in the third quarter, Academia Sinica yesterday revised its GDP growth forecast for this year to 5.15 percent, up from an estimate of 4.46 percent in June.

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By Mo Yan-chih
The Shin Kong Tower (新光摩天大樓) in Taipei, valued at approximately NT$3.36 million per ping (US$31,200 per square meter), retained its "King of the Land" title yesterday.

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By Jerry Lin
Alexander Health Clubs (亞力山大健康休閒俱樂部) members can apply for the termination of their credit card payments, but will have to continue paying if any branches reopen, an official at the Bankers Association (銀行公會) said yesterday.

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By Lisa Wang
Wintek Corp (勝華) overtook long-term rival Samsung SDI to become the world's largest handset panel supplier by unit shipment in the third quarter, market researcher DisplaySearch said in its latest report.

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GROWTH: Analysts predicted China's demand for polyester would grow to 53 percent of the global total in the next three years, dwarfing previous predictions
Formosa Plastics Corp (台塑), the world's third-largest maker of polyvinyl chloride, is poised to benefit from "robust" petrochemical demand in China, KGI Securities Co (中信證券) said.

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The EU launched an investigation yesterday into whether China is illegally selling steel at prices so low that they are hurting European steelmakers such as ArcelorMittal and ThyssenKrupp AG.

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Taiwan share prices closed 0.85 percent lower yesterday on margin calls, although late bargain-hunting pushed the index above 8,000 points again on a day of heavy trade, dealers said.

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Gateway CEO to step down

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