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Manufacturing sector posts Q4 growth

In the fourth quarter of last year, the manufacturing sector ended a seven-quarter production value losing streak, largely on the back of a strong showing by the nation’s electronic components industry, the Ministry of Economic Affairs said on Saturday. In the October-to-December period, the outputFULL STORY

Terry Gou pledges shares as loan collateral

Hon Hai Precision Industry Co (鴻海精密) chairman Terry Gou (郭台銘) has pledged a large chunk of Hon Hai shares to banks in exchange for loans, according to data released by the Taiwan Stock Exchange (TWSE) on Saturday. The loans are likely to be used toFULL STORY

CPDC expresses concern over Praxair joint venture

By Kuo Chia-erh

China Petrochemical Development Corp (CPDC, 中石化) last week voiced concern over the ownership of a joint venture with US-based Praxair Inc, saying that Taiwan’s semiconductor supply chain could suffer if the US company takes complete control of the Hsinchu venture. “We are worried that the upcomingFULL STORY

Finance and insurance workers record pay cuts

Employees in the financial services and insurance industries saw their salaries fall the most among workers in the nation’s major industries last year, according to a survey released by online human resources advisory firm 1111 Job Bank (1111人力銀行) on Saturday. The survey showed that theFULL STORY

Businesspeople urge labor law change to reduce costs

Businesspeople want President Tsai Ing-wen’s (蔡英文) administration to change the labor laws that came into effect less than two months ago, saying that otherwise, the nation could face inflation, an exodus of companies, infuriated business owners and unhappy workers. Manufacturers United General Association of IndustrialFULL STORY

CPC to cut prices of gasoline, diesel by NT$0.1 per liter

State-owned fuel supplier CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would cut its diesel and gasoline prices by NT$0.1 per liter today, on the back of lower global crude oil prices. Although OPEC members have agreed to reduce output, global crude prices droppedFULL STORY

Tidal power gives Shetlands surplus

Strong winds and stormy seas have helped turn the Shetland Islands in the North Atlantic into a European “renewable energy” giant, producing more power than it knows what to do with. The tidal-power underwater turbines that were completed last month are only the latest “green energy”FULL STORY

Smartphone apps revolutionizing healthcare scene

Smartphones are revolutionizing the diagnosis and treatment of illnesses, thanks to add-ons and apps that make their ubiquitous small screens into medical devices, researchers say. “If you look at the camera, the flash, the microphone ... they all are getting better and better,” said Shwetak Patel,FULL STORY

Bill Gates fears superbugs, warming

Microsoft Corp co-founder Bill Gates joined the UN to warn world leaders about a new series of threats shaping up as megatrends, led by global warming, superbugs and artificial intelligence. US Vice President Michael Pence and trans-Atlantic military officials were on the receiving end of theFULL STORY

IMF agrees to US$5.5bn Mongolia bailout

Mongolia reached an initial agreement with the IMF for a three-year program that includes a US$440 million loan package as part of a US$5.5 billion bailout to help the north Asian country with looming debt repayments. “The Asian Development Bank, the World Bank and bilateral partnersFULL STORY

RBC, Scotiabank score highest on fintech efforts

Royal Bank of Canada (RBC) and Bank of Nova Scotia (Scotiabank) are the most focused on embracing financial technology (fintech) among Canada’s largest lenders, according to a report from research firm International Data Corp (IDC). The two banks scored the highest overall ranking — four checkmarksFULL STORY

Tourism shows signs of recovery in Egypt after attacks, tumultuous years

Tourists are slowly returning to Egypt, easing pressure on a key sector battered by years of turmoil and the 2015 bombing of an aircraft carrying Russian holidaymakers. “There is an increase in the number of tourists. This situation was much better in January than in previousFULL STORY

British PM to meet PSA chief to talk Vauxhall takeover

British Prime Minister Theresa May is to meet with PSA Group chief executive officer Carlos Tavares to discuss its plans to take over the European arm of General Motors Co (GM), which includes Britain’s Vauxhall cars, her office said on Saturday. “We have received a meetingFULL STORY

World Business Quick Take

Saudi arabia Pipeline leak kills contractor A contractor was killed and three other workers were injured in a pipeline leak, state-owned oil giant Aramco said yesterday. Aramco tweeted that the leak occurred at the Abqaiq facility, 60km southwest of the company’s main Dhahran compound. The two contractorsFULL STORY

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