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PMI falls, remains in expansion mode

By Crystal Hsu

The official purchasing managers ‘index (PMI) last month remained in expansion mode, but the pace slowed from a month earlier, as demand from abroad eased in line with the low technology cycle, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI reading, whichFULL STORY

Casetek Holdings’ profit dips on rising costs

By Lauly Li

Casetek Holdings Ltd (鎧勝), which supplies metal casings for Apple Inc’s MacBooks and iPads, yesterday reported its lowest quarterly net profit in two years, dragged down by rising labor costs and development expenses for a new notebook project. Net profit dropped 19.37 percent to NT$903 millionFULL STORY

HTC’s revenue declined nearly 40 percent in April

By Lauly Li

Despite the launch of its newest high-end flagship smartphone, HTC Corp’s (宏達電) revenue last month plummeted 38.66 percent to NT$13.54 billion (US$439.95 million) from NT$22.07 billion a year earlier. On a monthly basis, the figure fell 32.36 percent from March’s NT$20.02 billion. Analysts attributed the poor revenueFULL STORY

Late product launch hurts Asustek’s tablet shipments

Tablet shipments of Asustek Computer Inc (華碩) slumped in the first three months of this year as it did not launch its new products until the middle of the quarter, research firm IDC said. Asustek’s global tablet shipments fell 30.6 percent year-on-year to 1.8 millionFULL STORY

MediaTek No. 2 LTE baseband chip maker last year

MediaTek Inc (聯發科) established itself as the second-largest maker of Long-Term Evolution (LTE)-enabled cellular baseband processors in the world last year, Strategy Analytics said. Qualcomm Inc, which has had near total dominance of the high-growth LTE baseband segment in the past — and had aFULL STORY

Cloud Live Technology to pay interest on its bonds

Cloud Live Technology Group Co (中科雲網科技集團), which last month became China’s second company to default on its onshore bonds, is set to repay the interest and some principle on the securities. The restaurant-turned-Internet company is to pay 35 percent of the face value on 480 millionFULL STORY

MDW upbeat on demand for new hot spring resort

By Amy Su

MDW Consulting Inc (牡丹灣休閒管理顧問), an operator of resorts and hospitality facilities, yesterday said it expects its first hot spring resort in northern Taiwan to generate about NT$80 million (US$2.6 million) in revenue in its first year of operation. The resort operator invested NT$350 million in TsuwuFULL STORY

FEATURE: Singapore bids to curb graduate glut

Singaporean Carmen Kok regrets that she never made it to university. She is not letting her daughter make the same mistake, even if she has to send her abroad to get a place. “You can’t rise up in Singapore without a degree,” said Kok, 47, whoFULL STORY

Fosun to buy Ironshore in US$1.84bn insurance deal

Fosun International Ltd (復星國際), the investment arm of China’s biggest closely held conglomerate, is planning a US$1.84 billion merger with Ironshore Inc after buying the shares it does not already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 is to combine with Ironshore toFULL STORY

Taiwan Business Quick Take

HOUSING Sales decline in two cities Housing sales in Taichung and Kaohsiung contracted nearly 20 percent year-on-year last month due to weak confidence, separate government data showed yesterday. Taichung saw 3,286 property deals last month, while Kaohsiung recorded 2,730 cases, down 18.34 percent and 18.48 percent respectivelyFULL STORY

Big drop in Chinese factory activity: poll

China’s factories last month suffered their fastest drop in activity in a year as new orders shrank, a private business survey showed yesterday, hardening the case for fresh stimulus measures to halt a slowdown in the world’s second-largest economy. The latest indication of deepening factory woesFULL STORY

S Korea warns Japan over yen-won tumble

South Korea’s top currency official fired a warning to Japan: His nation has stepped up scrutiny of the yen’s tumble against the won after damage to exporter earnings. “Korean companies face bigger difficulties this year than last,” said Song In-chang, director-general of the Ministry of Finance’sFULL STORY

ADB unleashes measures to boost lending capacity

The Japan-led Asian Development Bank (ADB) unleashed measures that could help it hold its ground as a resource for regional economies, even as China’s Asian Infrastructure Investment Bank (AIIB) gains prominence. The ADB overhauled a four-decade-old development fund to boost its annual lending and grant approvalsFULL STORY

TomTom maps destined for self-driving cars: CEO

Dutch navigation company TomTom NV aims to become a main provider of technology for self-driving cars as it charts its way back to success after seven lean years, chief executive officer Harold Goddijn said. Goddijn said that an overhaul of TomTom’s digital mapping architecture lies behindFULL STORY

Calls for RBA to cut rates intensifying

Traders and economists are the most united they have been this year Reserve Bank of Australia (RBA) Governor Glenn Stevens needs to cut rates today in the face of a stronger currency. The market is pricing in a better than 75 percent chance borrowing costs willFULL STORY

World Business Quick Take

MINING S&P lowers BHP’s rating The outlook on BHP Billiton Ltd’s credit rating was reduced to negative by debt assessor Standard & Poor’s (S&P) as lower iron ore and oil prices threaten profits at the world’s largest mining company. S&P, which has cut its price assumptions forFULL STORY

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