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Export order growth falls short

By Lauly Li

The nation’s export orders increased 7.4 percent year-on-year to US$35.61 billion last month, falling short of the government’s forecast of annual growth between 16.3 percent and 19.3 percent, due to weaker-than-expected demand for electronics goods, the Ministry of Economic Affairs said yesterday. The growth momentum isFULL STORY

Jobless rate lowest in 23 months

By Crystal Hsu

The unemployment rate dropped to 3.67 percent last month, the lowest in 23 months, as fewer people lost jobs due to business downsizing or closures, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The figure might climb a little higher this month and accelerateFULL STORY

NT at highest level in over two years

By Crystal Hsu

The New Taiwan dollar yesterday rose another 0.53 percent, or NT$0.158, to NT$30.052 against the greenback in Taipei trading, the highest level in more than two-and-a-half years as foreign funds continued to invest in Asian currencies, especially the South Korean won and the NT dollar,FULL STORY

Hon Hai, Sharp to set up flat panel plant in US

Manufacturing giant Hon Hai Precision Industry Co (鴻海精密) and its Japanese subsidiary, Sharp Corp, are planning to build a flat panel production site in the US, Japan’s Nihon Keizai Shimbun said. The report said that Hon Hai is expected to team up with Sharp, of whichFULL STORY

Powertech’s plan for stake in Tera Probe is approved

By Lauly Li

The Investment Commission yesterday approved memorychip tester and packager Powertech Technology Inc’s (力成科技) planned investment of ¥9.02 billion (US$80.97 million) to acquire a stake in Tera Probe Inc from Micron Technology Inc. “Powertech’s planned investment in Tera Probe could help the Taiwanese firm expand its productionFULL STORY

LeEco founder to step back from struggling business

Billionaire Jia Yueting (賈躍亭) is to relinquish the day-to-day running of his flagship streaming service, as cash-strapped parent Leshi Internet Information & Technology Corp (LeEco, 樂視) considers an internal overhaul that would group businesses from entertainment to televisions under its main listed company. The Chinese technologyFULL STORY

Dr. Wu issues a cautious outlook due to challenges

By Ted Chen

Dr. Wu Skincare Co Ltd (達爾膚生醫科技) yesterday issued a reserved outlook on earnings growth this year due to challenging macroeconomic conditions. In light of weak growth in consumer spending, as well as the falling number of Chinese tourists, the company’s retail partners have turned bearish aboutFULL STORY

S Korea’s ‘chaebol’ duck for cover

A South Korean retail giant has shelved controversial expansion plans, while a large bank has made hundreds of contract jobs permanent after South Korean President Moon Jae-in took office vowing to reform the family-run conglomerates that dominate the nation’s economy. The 64-year-old liberal leader campaigned onFULL STORY

Taiwan Business Quick Take

PANEL MAKERS GIS dividend approved GIS Holding Ltd (業成), a touchpanel supplier to Apple Inc, yesterday said its shareholders have approved the distribution of a cash dividend of NT$4 per common share. That represented 1.83 percent cash dividend based on the company’s closing price of NT$219 yesterday.FULL STORY

Europe challenging Tesla’s lead

Battery-making gigafactories are about to arrive in Europe, challenging a lead Tesla Inc is building at a plant in Nevada and opening the way for a quicker shift toward “green” power for both cars and utilities. German Chancellor Angela Merkel was scheduled to break ground yesterdayFULL STORY

Ford to replace CEO with autonomous vehicle head

In a shake-up reflecting the pressures on the US auto industry, Ford Motor Co is replacing its chief executive officer Mark Fields, officials briefed on the move said. Jim Hackett, who oversees the Ford subsidiary that works on autonomous vehicles, is to take the reins fromFULL STORY

Cathay Pacific Airways to cut 600 jobs

Cathay Pacific Airways Ltd (國泰航空), Asia’s biggest international airline, is to eliminate 600 jobs as part of its biggest revamp in two decades following its first loss in eight years. The majority of affected employees are to be informed starting yesterday through the next month, withFULL STORY

S&P cuts Australian bank ratings on housing worry

S&P Global Ratings downgraded the credit scores of almost all of Australia’s financial institutions as it warned about the risks of a property market downturn, though expectations of government support saw the largest banks spared. About 23 issuers had their ratings lowered, including Bank of QueenslandFULL STORY

Saudi Arabia vows US$20 billion to Blackstone Group

As US President Donald Trump began his first official trip abroad in Saudi Arabia, an investment company run by one of his top supporters, billionaire Stephen Schwarzman, secured an enormous investment from the Middle Eastern kingdom. The company, which Schwarzman helped found, Blackstone, said on SaturdayFULL STORY

World Business Quick Take

JAPAN Exports expand 7.5 percent Exports last month expanded for a fifth consecutive month, with shipments to China surging as global demand continued to support the nation’s economic recovery. Exports rose 7.5 percent from a year earlier, according to data released by the Ministry of Finance, whileFULL STORY

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