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August, 31, 2016

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Business
Kim to seek second term as World Bank chief
World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday as it announced the start of a selection process for the presidency.
 
Rhode Island reaches US$25.6 mil deal over Schilling's 38 Studios
Rhode Island has reached a $25.6 million settlement with two of the financial backers it sued over a disastrous deal with former Red Sox pitcher Curt Schilling's 38 Studios video game company
 
European stock markets mostly rose on Wednesday, shrugging off a largely downbeat session in Asia, with sentiment partly lifted by German economic growth data.
 
A new U.S. government report released Tuesday blames lower-than-expected tax revenues for a spike in this year's budget deficit to US$590 billion. That's an increase of about one-third over last year's tally.
 
The U.S. dollar rose Wednesday with the Federal Reserve's policy plans in focus, while the South Korean won fell after the North tested a submarine-launched missile, bringing geopolitical tensions back into focus.
 
The government of the Bahamas says it has reached an agreement that will lead to the completion of a stalled mega-resort financed and built by Chinese state-owned enterprises.
 
Oil fell in Asia Wednesday on oversupply fears, after data showed an increase in U.S. crude stocks, and as traders took advantage of a recent rally to book profits.
 
China's biggest oil producer PetroChina's net profit plunged 97.9 percent in the first half of this year, it said Wednesday, as it struggled with a weak domestic economy and low oil prices.
 > China
 
The exhibition Touch Taiwan 2016 held in Taipei is showcasing cutting edge panels and monitors including the world's highest definition 8K4K panel.
 > Taiwan
 
InnoLux Corporation's (群創) President Wang Chin-chao (王志超) said panel demand is exceeding supply in the second half of 2016, the first time that the market has been undersupplied in 20 years.
 
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