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Q2 GDP growth defies expectations

By Amy Su

The nation’s economy grew in the second quarter at its fastest pace in the past six quarters, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. GDP expanded 3.84 percent in the April-to-June period compared with the same period last year, an increase of 1.05FULL STORY

MediaTek hikes 4G goal

By Lisa Wang

MediaTek Inc (聯發科), the biggest handset chip supplier in China, yesterday raised its target for 4G long-term evolution (LTE) smartphone chip shipments this year by 100 percent after strong replacement demand from China and emerging markets helped boost its net profit to a record highFULL STORY

HTC Corp says it must fight to stay in the black

By Helen Ku

Smartphone vendor HTC Corp (宏達電) yesterday forecast revenue for this quarter would continue falling as the firm is fighting the headwinds of a shorter product cycle and the upcoming new iPhone from Apple Inc. In a conference call with investors, HTC said sales for this quarterFULL STORY

FSC to get tough on leaks by brokerages

By Crystal Hsu

The Financial Supervisory Commission (FSC) is to take a tougher stand on the publication of client notes written by securities houses about the stock prices of listed companies in a bid to curb price speculation, the regulator said yesterday. The idea to impose the restrictions isFULL STORY

FTC fines Xiaomi Taiwan for sales data

The Taiwanese branch of Chinese handset maker Xiaomi Corp (小米) apologized yesterday after being fined NT$600,000 (US$19,980) by the Fair Trade Commission (FTC) for rounding up sales figures of its low-cost Redmi smartphones. “We sincerely apologize for causing public inconvenience and misunderstanding,” Xiaomi Taiwan said onFULL STORY

Tong Yang to build two factories

By Camaron Kao

Auto parts maker Tong Yang Industry Co (東陽實業) said yesterday that it plans to invest about NT$1 billion (US$33.3 million) in the second half of this year to build two factories in Greater Tainan to expand its capacity of products for the after-sales market. The companyFULL STORY

Hermes Microvision bullish on Q4

By Kevin Chen

Hermes Microvision Inc (漢微科) on Tuesday said its sales for this quarter may flatten from last quarter, when sales hit a record level, but the company forecast it would report strong sales performance in the final quarter of the year. The company said sales for nextFULL STORY

Economic growth ‘hollow’: TIER chief

By Amy Su

The nation’s projected economic growth of 3.5 percent to 4 percent over the next few years could be “hollow” because of declining added value in the manufacturing sector, Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) president David Hong (洪德生) said on Wednesday. The development of theFULL STORY

MOEA unveils three-year nuclear power plant plan

The Ministry of Economic Affairs (MOEA) yesterday said the government has proposed a three-year plan for sealing up a reactor at the controversial Fourth Nuclear Power Plant until a national referendum is held to decide whether fuel rods should be inserted into the power plant’sFULL STORY

Argentina braces for reaction to default

Argentina defaulted for the second time in 12 years after hopes for a midnight deal with holdout creditors were dashed, setting up stock and bond prices for declines on Wednesday and raising chances a recession could worsen this year. After a long legal battle with hedgeFULL STORY

US growth surges, but Fed to keep interest rates low

The US economy rebounded vigorously in the second quarter, growing at a pace of 4 percent that erased the impact of the sharp contraction seen in the winter, the US Department of Commerce reported on Wednesday. However, the US Federal Reserve remained cautious, sticking toFULL STORY

Samsung surprises with poor Q2

Samsung Electronics Co reported a bigger-than-expected fall in profits for the second quarter yesterday and said it was uncertain if earnings from handsets would improve in the current quarter. Samsung said earlier last month that the second quarter would be its worst in two yearsFULL STORY

Cultural Revolution icon to make millions in IPO

A former Chinese Cultural Revolution role model who shot to fame in 1970s China for submitting a nearly blank exam paper is poised to enjoy the fruits of capitalism as his company lists on the Shanghai stock market. Zhang Tiesheng’s (張鐵生) stake in Liaoning Wellhope Agri-TechFULL STORY

US legislators warn Japan and China over TPP talks

A bipartisan group of US lawmakers on Wednesday said Japan’s refusal to drop all barriers to farm imports under the Trans-Pacific Partnership (TPP) was unacceptable and urged the US administration to cut Japan and Canada out of the talks if they did not give ground. InFULL STORY

World Business Quick Take

REAL ESTATE UK house prices stagnate House prices in the UK stagnated last month after strong growth in June, cooled by tougher checks on mortgage lending, a survey from lender Nationwide Building Society showed yesterday. House prices gained just 0.1 percent month-on-month, the slowest rate since AprilFULL STORY

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