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TSMC forecasts 22 percent Q2 growth

By Lisa Wang

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday forecast better-than-expected sequential growth of 22 percent in revenue this quarter after the world’s top contract chipmaker posted a quarterly net profit that beat analysts’ expectations, fueled by resilient smartphone demand. Revenue is expected to swell to between NT$180FULL STORY

CTBC Financial’s merger with Taiwan Life falters

By Crystal Hsu

Shares in Taiwan Life Insurance Co (台灣人壽) closed down by the daily limit yesterday ahead of a board meeting to discuss its agreement to merge with CTBC Financial Holding Co (中信金控). The insurer, which agreed in October last year to be bought by CTBC Financial throughFULL STORY

Tsang Yow rides China car boom

By Camaron Kao

Tsang Yow Industrial Co (倉佑實業), which makes automotive powertrain components, said yesterday that it aims to post 20 percent to 30 percent revenue growth this year on the back of the growing vehicle market in China. Rising orders are expected to drive revenue for the company’sFULL STORY

Council axes land seizures

By Camaron Kao

The National Development Council (NDC) said yesterday that it would remove clauses on land expropriation from its draft act on free economic pilot zones, to protect residents’ property rights. On Friday next week, the council is to submit a motion to revise the draft to theFULL STORY

Asustek moves to assuage anger over cross-strait device pricing disparity

By Helen Ku

Asustek Computer Inc (華碩) yesterday apologized for charging Taiwanese consumers more for its new ZenFone smartphone than it is charging in China. “We are sorry for causing inconvenience to our Taiwanese customers because of the price and spec difference,” Asustek chairman Jonney Shih (施崇棠) told aFULL STORY

LCD TV panel prices still rising

By Lisa Wang

A recent uptick in LCD TV panel prices is expected to carry into next month, as panel makers intend to raise prices by another 5 percent, market researcher NPD DisplaySearch said yesterday. That is because panel makers want to take advantage of supply constraints amid restockingFULL STORY

Cathay Hospitality aiming for eight hotels by 2018

By Amy Su

Cathay Hospitality Management Co (國泰商旅), a subsidiary of Cathay Real Estate Development Co (國泰建設), yesterday opened its third hotel in the nation, with plans to expand to eight by the end of 2018. “We aim to expand the company’s hotels to eight in five years, withFULL STORY

Yue Yuen to adjust work benefits in Guangdong

By Kevin Chen

Yue Yuen Industrial (Holdings) Ltd (裕元工業), a Hong Kong-listed footwear maker, yesterday said its board had agreed to adjust employee benefits for Chinese workers in Dongguan City, Guangdong Province, as a strike continues. The company, which counts major brands such as Nike, Adidas, Reebok, NewFULL STORY

Chunghwa to offer more LTE-ready devices in Q2

Chunghwa Telecom Co (中華電信) has teamed up with Sony Mobile Communications to offer more 4G-enabled phones and tablets ahead of the planned launch of Taiwan’s 4G long-term evolution (LTE) network in the second half of the year. The partnership will boost Chunghwa Telecom’s LTE-ready devicesFULL STORY

US economy shakes off winter freeze: Fed report

The US economy is showing clear signs of emerging from the brutal winter, with consumer spending picking up broadly, the US Federal Reserve’s Beige Book survey said on Wednesday. “Economic activity increased in most regions” of the country since the report from early last month, theFULL STORY

Sony’s PlayStation 4 global sales top 7 million units

Sony’s gaming subsidiary says it has sold 7 million PlayStation 4 (PS4) consoles worldwide since its launch last year and claimed that it cannot make them fast enough, in a welcome change of fortune for the Japanese consumer electronics giant. “The response from the global gamingFULL STORY

Google disappoints as ad prices slip

Google Inc’s first-quarter earnings growth faltered as the Internet’s most influential company grappled with a persistent downturn in advertising prices while spending more money to hire employees and invest in daring ideas. The results announced on Wednesday fell below analyst projections. Google’s Class A stock shedFULL STORY

US urges next Indian government to curry investment

The US on Wednesday urged the Indian government that emerges from ongoing elections to follow economic policies that encourage investment, saying Washington would like to see bilateral trade grow to US$500 billion a year. Nisha Biswal, US assistant secretary of state for South and Central Asia,FULL STORY

Gap Inc outlines retail growth plans for China

Gap Inc said on Wednesday that it plans to more than triple sales in China in three years as the retailer seeks to grab a bigger piece of the overall US$1.4 trillion global clothing market. The San Francisco-based clothing chain, which operates stores under the Gap,FULL STORY

Downturn in technology stocks hobbles Weibo IPO

Sina Weibo Corp (新浪微博) has sold fewer shares than expected in its US initial public offering (IPO) which has been priced below expectations, a report said Thursday, ahead of its listing which takes place after selloffs on Wall Street. The Beijing-based firm, often described as China’sFULL STORY

World Business Quick Take

BANKING China to cut reserve rate China is to cut the amount of funds that rural banks must keep in reserve, Xinhua news agency said, in a small easing of monetary policy by the government as it tries to provide support to the slowing economy. The StateFULL STORY

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