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Auto tech to drive ASE growth

By Lisa Wang

Advanced Semiconductor Engineering Inc (ASE, 日月光半導體) expects revenue from its fabs in Malaysia and Singapore to grow at an annual pace of 10 percent next year to surpass US$300 million, driven primarily by rapidly growing automotive electronics demand. The rate would be an acceleration from thisFULL STORY

Alibaba agrees to buy US$2.88bn stake in Sun Art

By Kuo Chia-erh

Staff reporter Two listed units of the Ruentex Group (潤泰集團) yesterday confirmed that Chinese e-commerce giant Alibaba Group Holding Ltd (阿里巴巴) would acquire a 36.16 percent stake in their joint venture that operates a hypermarket chain in China. Together with France-based Auchan SA, the Taiwanese conglomerate runsFULL STORY

Convenience stores reveal new lines of prepared food

By Kuo Chia-erh

The nation’s two leading convenience store operators — Taiwan FamilyMart Co (全家便利商店) and President Chain Store Corp (PCSC, 統一超商) — yesterday unveiled new prepared food lines in a bid to seize growing business opportunities. At a news conference yesterday, FamilyMart launched new oden items featuring authenticFULL STORY

Sentiment hits highest level in over two years after data show rising performance

Positive sentiment about the local economy reached its highest point in more than two years after a slew of economic data pointed to improved performance, a survey by Cathay Financial Holding Co (國泰金) showed yesterday. The upbeat outlook came after the nation’s economy grew 3.11 percentFULL STORY

Export orders climb 9.2% annually, a new monthly record

By Lauly Li

The nation’s export orders last month climbed 9.2 percent annually to a new monthly record of US$46.6 billion, driven by strong orders for an international company’s newly launched smartphones and “smart” wearables, the Ministry of Economic Affairs said yesterday. The export orders beat the ministry’s forecastFULL STORY

Nation’s Southbound investments surge 100% to US$3.5bn

By Lauly Li

The nation’s investments to countries targeted by the government’s New Southbound Policy in the first 10 months rose 99.51 percent year-on-year to US$3.48 billion, driven by surging investments to Australia, Thailand, the Philippines and Malaysia, the Investment Commission said yesterday. “The statistics showed Taiwanese firms’ growingFULL STORY

Marvell has agreed to buy Cavium Inc, source says

Marvell Technology Group Ltd, a chipmaker looking to build itself a future outside of a declining area of the market, has agreed to buy Cavium Inc for about US$6 billion, a person familiar with the transaction said. The deal would involve a mix of cash andFULL STORY

Oil short-sellers return as OPEC doubts loom

Short-selling is rearing its head in the oil market again. After bullish bets on Brent crude hit a record and futures surged to two-year highs, hedge funds are pulling back with a sense that the rally has reached its limit for now. Wagers on lower prices roseFULL STORY

Canada, Mexico to question US auto content demands at talks

Canada and Mexico were not planning to make counterproposals to US demands for tougher North American Free Trade Agreement (NAFTA) automotive content rules, but instead were to offer rebuttals and pepper US negotiators with technical questions yesterday, people familiar with the talks said. Canada was toFULL STORY

Technology firms better at banking: poll

Here is another reason banks should fear the likes of Amazon.com Inc: A survey showed that consumers are eager to see technology titans take on finance. Nearly 60 percent of US bank customers are willing to try a financial product from tech firms they already use,FULL STORY

Japan exports climb on surging demand

Japan’s exports grew 14 percent in October from a year earlier on strong demand for vehicles, electronics and machinery. However, customs data released yesterday showed even faster growth in imports of oil, gas and coal that caused the trade surplus to fall more than 40 percentFULL STORY

Multifamily unit construction in the US declines

Faster apartment building was instrumental in pulling the US housing market out of its slump a decade ago. Now, that engine is starting to throttle back. A softening in the multifamily segment is something to keep an eye on even as overall homebuilding — including single-familyFULL STORY

Nissan hints at building US plant

Nissan Motor Co is squeezing all it can from its US assembly plants and will need to build a new factory if it keeps growing in the lucrative US auto market, a top executive said. “At some point, we may need it,” Nissan North America chairmanFULL STORY

Thailand GDP beats forecast

Thailand’s economy grew faster than economists estimated last quarter and is on track for strong performance next year, underpinned by a pick-up in exports and booming tourism. GDP rose 4.3 percent from a year ago, compared with the median estimate of 3.9 percent in a BloombergFULL STORY

Toshiba share sales open door to activists

Toshiba Corp’s plan to raise more money might bring in vocal investors more willing to take an active role in the electronics maker’s affairs. David Einhorn’s Greenlight Capital, Daniel Loeb’s Third Point and other investors have agreed to buy ¥600 billion (US$5.35 billion) worth of newlyFULL STORY

World Business Quick Take

AUTOMAKERS Honda recalls minivans in US Honda is recalling about 800,000 of its Odyssey minivans in the US over faulty parts blamed for 46 minor injuries, the company said, just a month after settling a huge lawsuit on other defects. The recall, which affects the 2011 toFULL STORY

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