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Lemtech to build Czech Republic plant

By Kuo Chia-erh

Lemtech Holdings Co, Ltd (聯德控股) is to build a new plant in the Czech Republic, a company official told an investors’ conference in Taipei yesterday. The New Taipei City-based metal stamping components and precision press tool supplier operates plants in Kunshan, China, Thailand and the US,FULL STORY

Consumer index on confidence down this month

Taiwan’s consumer confidence index fell this month, reflecting public concerns over the economy, National Central University said yesterday. The index stood at 79.56 this month, down 0.62 points from last month, according to a survey conducted by the university’s Center for Taiwan Economic Development asking consumersFULL STORY

AIDC committed to indigenous military jets

By Ted Chen

Aerospace Industrial Development Corp (AIDC, 漢翔航空工業) yesterday said it is fully committed to the government’s bid to build a fleet of indigenously developed air force trainer jets and downplayed concerns about a memorandum of understanding (MOU) it inked with an Italian company. AIDC, the nation’s largestFULL STORY

Energy efficiency measures bring big savings to industry

The nation’s manufacturing sector reduced its costs by about NT$8.55 billion (US$268.86 million) per year between 2009 and last year by adopting energy efficiency measures, the Ministry of Economic Affairs (MOEA) said yesterday. More than 2,800 factories received help from the ministry to become moreFULL STORY

TOPBI upbeat on Chinese children’s apparel market

By Kuo Chia-erh

China-focused apparel company TOPBI International Holdings Ltd (淘帝國際控股) yesterday gave a positive business outlook for the rest of this year, saying it might benefit from Beijing’s new population policy. “We see strong growth momentum in China’s child clothing market, driven by the easing of its one-childFULL STORY

US dollar closes higher in Taipei on Fed rate fears

The US dollar yesterday rose against the New Taiwan dollar in Taipei, gaining NT$0.129 to close at NT$31.801, as renewed fears over a US Federal Reserve rate hike pushed the NT dollar down to a one-week low, dealers said. The weakness of other regional currenciesFULL STORY

Developing nation assets decline

Emerging market currencies and stocks fell yesterday, halting a two-day advance, after comments by the US Federal Reserve signaling that interest rates could rise this year damped demand for riskier assets. The South Korean won and Malaysian ringgit led losses among Asian currencies and the randFULL STORY

La Kaffa enters US market with outlet in New York City

Taiwanese food and beverage chain La Kaffa International Co (六角國際) has opened a flagship outlet in New York, making it the first listed Taiwanese business to expand in the US city. The New York outlet, which was launched at the weekend, offers beverages under La Kaffa’sFULL STORY

Sinopec Corp net profit dives 20%

Chinese oil giant Sinopec Corp (中國石油化工股份有限公司), Asia’s biggest refiner, saw its first-half net profit drop 21.6 percent, hit by low oil prices, the company said. The company made 19.92 billion yuan (US$2.98 billion) in the January-to-June period, compared with 25.42 billion yuan in the same periodFULL STORY

Singapore gets approval to allow dual-class shares

Singapore Exchange Ltd (SGX) has won approval from its listing advisory committee to allow dual-class shares, as it seeks to lure international businesses. Companies will be permitted to have weighted voting rights, subject to various corporate governance safeguards to mitigate the inherent risks of such structures,FULL STORY

Foreign firms eye Vietnam’s beer market

Heineken NV’s expansion of its production in Vietnam by taking over a brewery from rival Carlsberg A/S highlights growing interest by global beer brands to quench the thirst of about 70 million locals in one of the world’s fastest-growing economies. With a thriving street-side cafe andFULL STORY

Gender bias costing sub-Saharan Africa billions

Sub-Saharan Africa loses about US$95 billion a year due to gender inequality, jeopardizing the continent’s efforts for economic growth, according to a UN report launched on Sunday. Deeply rooted structural obstacles such as unequal distribution of resources and political power, combined with social institutions that sustainFULL STORY

China launches Beijing-based jet-engine firm

China officially launched a new multibillion-dollar jet engine conglomerate with almost 100,000 employees over the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls-Royce and General Electric Corp (GE). The Aero Engine Corp of China (AECC, 中國航發) hasFULL STORY

Pimco at odds with Goldman Sachs on Fed’s Janet Yellen as US rate bets rise

US Federal Reserve Chair Janet Yellen’s speech on Friday was hawkish enough for Goldman Sachs Group Inc to boost the odds of an interest-rate increase next month, while Pacific Investment Management Co (Pimco) said there was nothing of note in her remarks. Bond traders agree withFULL STORY

Li’s Italian job shows he still has his touch: Gadfly

By Nisha Gopalan

He may be 88 and facing setbacks from failed deals in the UK and Australia, but investors bet against Li Ka-shing (李嘉誠) at their peril. Hong Kong’s richest man is set to win approval as early as this week for 3 Italia’s buyout of a competitorFULL STORY

World Business Quick Take

LUXURY GOODS Prada shares rise Prada SpA shares yesterday rose as much as 15 percent in Hong Kong after chairman Carlo Mazzi forecast that the Italian luxury-goods maker will return to growth in sales and earnings next year, helped by cost-cutting and online expansion in Asia. ThisFULL STORY

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