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Everest launches range of smartwear

By Lauly Li

Everest Textile Co (宏遠興業) yesterday launched its new range of smartwear, collaborating with Far Eastone Communications Co Ltd (FET, 遠傳電信) and PixArts Imaging Inc (原相科技), as it seeks to ramp up its market share in the segment. Everest is the only Taiwanese textile company that hasFULL STORY

ASE, SPIL target holding company

By Lisa Wang

Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), yesterday said it is in talks with Siliconware Precision Industries Co (SPIL, 矽品精密) to create a joint-venture holding company in a last-ditch attempt to push for a merger of the two firms. ASE’s proposal, if accepted, would put an endFULL STORY

Most workers see postgrad degrees as poor value: poll

More than 80 percent of workers in Taiwan think that an advanced degree does not guarantee a good job, the online job bank yes123 said yesterday, citing a recent poll it conducted. According to the poll, 83.7 percent of workers think it is not easyFULL STORY

Neo Solar to shut Hsinchu line; boost Vietnam capacity

By Lisa Wang

Solar cell maker Neo Solar Power Corp (新日光) yesterday said it plans to close down a small-scale solar cell module assembly line in Hsinchu later this month to improve cost efficiency. Manufacturing costs at the Hsinchu assembly line are higher as the plant has a smallFULL STORY

Gourmet Master upbeat after China alters VAT regime

By Ted Chen

Gourmet Master Co (美食達人) is upbeat on its China-based operations following Beijing’s implementation of a new value-added tax (VAT) regime across the country’s service sector. The company, which operates the 85°C (85度C) coffee and bakery chain in Taiwan, China, Hong Kong, Australia and the US,FULL STORY

FSC relaxes cross-strait electronic payment rules

By Ted Chen

Local merchants are to be able to receive cash advances from certified institutions for sales to Chinese tourists that were paid via mobile payment services, the Financial Supervisory Commission (FSC) said yesterday. The commission said it eased guidelines on cross-border electronic payments and the change isFULL STORY

Xiaomi prices drone low

Xiaomi Corp (小米), the Chinese smartphone maker that challenged Apple Inc with sleek designs and low prices, is planning to introduce its first drone at a price more than 20 percent below a comparable product from market leader SZ DJI Technology Co (大疆創新), according toFULL STORY

HK probes China insurance activity

Chinese insurance purchases in Hong Kong have come under further scrutiny, with the territory’s regulator saying it is in talks with industry participants on new rules to protect the surging numbers of buyers from the mainland. “It is necessary to enhance protection of the mainland buyers,”FULL STORY

Fubon subsidiary opens branches in Beijing, Nanjing

Fubon Bank (China) Co (富邦華一), a subsidiary of Fubon Financial Holding Co (富邦金), yesterday opened two branches, one in Beijing and the other in Nanjing, as part of its efforts to deepen its presence in the massive Chinese market. The opening of the branch in BeijingFULL STORY

Taiwan Business Quick Take

STEELMAKERS China Steel sees profit jump China Steel Corp (中鋼), the nation’s biggest steelmaker, yesterday said pre-tax profit last month surged to NT$1.55 billion (US$47.37 million), compared with March’s pre-tax profit of NT$899 million. That brought the company’s total pre-tax profit in the first four months ofFULL STORY

Venezuela struggles as money shrinks

Venezuela’s minimum monthly salary is 15,051 bolivares, which a government subsidy for all workers bumps up to about 18,600 bolivares. However, no matter how you cut it, it is barely enough to live on. Under the strongest official exchange rate given by the government — whereFULL STORY

Fintech firms eye US immigrants

For two decades, Noe Sanchez sent money from California to his father in Mexico City through storefront outlets of traditional remittance firms such as Western Union. Now he grabs his smartphone and uses Remitly, one of several new competing mobile apps promoting cheap and quick internationalFULL STORY

Bank Indonesia weighs loosening lending rules

Indonesia’s central bank is considering loosening lending regulations to help stoke credit growth in Southeast Asia’s largest economy. One possible measure is to let homeowners take out loans to purchase a second property “off the plan,” or one that is pre-construction, Bank Indonesia senior deputy governorFULL STORY

Singapore shuts down BSI Bank as Swiss start probe

Singapore’s central bank yesterday ordered BSI Bank (Singapore) Ltd’s operations in the city-state to close down as Switzerland opened criminal proceedings against the private bank based on its investigation into transactions by Malaysia’s troubled state fund 1Malaysia Development Berhad (1MDB). The Monetary Authority of Singapore (MAS)FULL STORY

Saudi Arabia economic plan reduces OPEC role

Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell. The world’s biggest crude exporter has already undermined OPEC’s traditional role of managing supply, instead choosing to boost output to snatch market share from higher-cost producers, particularly US shale drillers, and crashingFULL STORY

World Business Quick Take

GERMANY Growth fastest in two years The economy grew at its fastest rate in two years in the first three months of the year, driven primarily by rising investment and household spending, data showed yesterday. GDP expanded by 0.7 percent in seasonally and calendar-adjusted terms from JanuaryFULL STORY

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