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Industrial output rises second month

By Kuo Chia-erh

The nation’s industrial production last month rose 0.88 percent year-on-year, supported by rising global demand for electronics components, the Ministry of Economic Affairs said yesterday. Last month’s industrial output rose for a second consecutive month, following a revised 1.9 percent increase in May, the ministry’s dataFULL STORY

Shin Ruen, YeaShin sign Banciao development deal

By Crystal Hsu

Shin Ruen Development Co (新潤興業) yesterday signed an agreement with YeaShin International Development Co (亞昕) and Ever Glory Construction Co (長耀建設) to jointly develop a residential complex in New Taipei City’s Banciao District (板橋). The residential project is to feature apartments with two to three bedroomsFULL STORY

Unemployment rate inches up to 3.92 percent

By Crystal Hsu

The nation’s unemployment rate edged up to 3.92 percent last month, an increase of 0.08 percentage points from May, as new graduates joined the market, many of whom have yet to land positions, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. Economic weakness contributedFULL STORY

First Apple Store in Taiwan being planned for Taipei

Recruitment of staff has begun as Apple Inc plans to open its first Apple Store in Taiwan, the US technology giant said yesterday. Apple released a list of job ads on its Taiwan site, seeking candidates for retail positions, such as “store leader,” “expert,” “manager” andFULL STORY

TaiGen aims to meet new rules for China approval

By Ted Chen

TaiGen Biotechnology Co (太景生技) is confident its can meet increasingly stringent requirements for new drug approvals in China, after it became the first Taiwanese firm to receive regulatory approval for its non-fluorinated quinolone antibacterial drug, Taigexyn, in Taiwan and China last month. The Chinese FoodFULL STORY

Momo.com reports 10.46% growth for second quarter

By Lisa Wang

Television and online retailer Momo.com Inc (富邦媒體) yesterday reported 10.46 percent annual growth in net profit for the second quarter, thanks to strong holiday sales, such as Mother’s Day, and high demand for summer appliances, such as cooling fans. Last quarter’s net profit of NT$297 millionFULL STORY

Volvo announces plan to sell autonomous vehicle

Volvo Group plans to sell a vehicle able to pilot itself down highways by 2021, joining BMW AG in a promise of self-driving technology within five years. Volvo is to start testing vehicles with advanced self-driving features next year in China, London and Gothenburg, Sweden, eventuallyFULL STORY

Late contender WeChat faces uphill battle in Africa

Late to the party, WeChat (微信), China’s biggest Internet-based mobile messaging platform, is scrambling to get a piece of the action in the booming African market. The move is leading South African-Chinese joint venture WeChat Africa down a fiercely competitive path, as Facebook Inc’s WhatsApp isFULL STORY

Taiwan Business Quick Take

ENTERTAINMENT IC approves XPEC stake sale The Investment Commission (IC) yesterday approved Bai Chi Gan Tou Digital Entertainment Co’s (百尺竿頭數位娛樂) acquisition of a major stake in local game developer XPEC Entertainment Inc (樂陞科技) for NT$4.86 billion (US$151.54 million). Bai Chi, which acquired a 5.29 percent stake inFULL STORY

IMF head calls for quick end to Brexit uncertainty

IMF managing director Christine Lagarde yesterday called for quick action to end uncertainty over Britain’s vote to leave the EU, which she said is dampening global economic growth. The IMF cut this year’s global growth forecast by 0.1 percentage points to 3.1 percent in a reportFULL STORY

Japan eagerly welcomes ‘Pokemon Go’

Pikachu was yesterday welcomed home by thousands of enthusiastic Japanese gamers as the global phenomenon that is Pokemon Go finally launched in its native market. The smartphone game has now been launched in more than 40 countries, including the US and much of Europe, but JapanFULL STORY

World’s last VCR maker to wind up production

The world’s last videocassette recorder (VCR) is set to roll off the factory line as a Japanese manufacturer ends production of the once booming home-theater technology. Funai Electric Co, which says it is the world’s last VCR manufacturer, pointed to a sharp decline in demand andFULL STORY

Kia to pick site of first India factory: sources

South Korea’s Kia Motors Corp is expected to pick a site next month for its first factory in India, stepping up plans to start making cars in one of the world’s fast-growing auto markets, two people familiar with the matter said. The move would enable KiaFULL STORY

Syngenta takeover talks constructive, CEO says

Syngenta AG, which has agreed to be taken over by China National Chemical Corp (ChemChina, 中國化工) for US$43 billion, said talks with regulatory authorities to win approval for the deal have been constructive and the Swiss company is confident the transaction can be closed inFULL STORY

Samsung suing Huawei for alleged patent violations

Samsung Electronics Co is suing Chinese smartphone maker Huawei Technologies Co (華為) for allegedly violating six of its patents in the latest move in a series of deepening patent disputes between Asian smartphone giants. The South Korean company yesterday said that it took legal action toFULL STORY

World Business Quick Take

INTERNET Bezos surpasses Buffett Jeff Bezos snuck past Warren Buffett to become the third-richest person on Earth. The Amazon.com Inc founder’s net worth was US$65.05 billion on Thursday, topping Buffett by US$32 million on the Bloomberg Billionaires Index. With the gain, Bezos’ wealth has increased by US$5.4FULL STORY

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