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Stock scheme may boost Chinese shares

By Crystal Hsu

The Shanghai-Hong Kong stock connection scheme is likely to accelerate fund outflows from the local bourse to Chinese shares that may eventually climb higher, analysts said yesterday. The connection scheme is expected to go into practice later this month and Chinese authorities are due to promulgateFULL STORY

Samsung touts new Galaxy Note 4, Gear S watch

Top cellphone maker Samsung Electronics Co yesterday said its anticipated Galaxy Note 4 will hit Taiwanese shelves on Oct. 9, as the South Korean phone giant aims to take on Apple Inc’s newly launched large-screen iPhone 6 and iPhone 6 Plus models. The 4G phabletFULL STORY

Wintek outlines financial strategy

By Amy Su

Financially strapped touchpanel maker Wintek Corp (勝華科技) yesterday said it plans to introduce strategic partners, sell assets and streamline its workforce to weather its financial woes. It was the second time the company has talked about its financial problems to ease investors’ concerns, following the announcementFULL STORY

Dimerco expecting strong Q4 seasonal growth: CEO

By Amy Su

Dimerco Express Group (中菲行國際物流), which offers global freight-forwarding and logistics services, expects business to show strong seasonal growth next quarter, on the back of rising shipping demand from newly launched mobile phones and electronics. Although the difference between the high season and the low season hasFULL STORY

Japanese carmakers refuse to cut costs

Japanese car distributors have declined to cut prices on rising manufacturing costs, despite mounting pressure to do so given the depreciation of the Japanese yen, the Ministry of Economic Affairs said. The ministry’s comments came after it wrapped up talks on Monday with car manufacturers assemblingFULL STORY

Apple unlikely to change casing design: brokerage

Apple Inc is unlikely to change the metal casing design for its smartphones despite reports that its new iPhone 6 models are vulnerable to bending, a Taipei-based analyst for Germany’s Deutsche Bank AG said. Several foreign media and smartphone review Web sites, such as UnboxFULL STORY

Chinese house prices tumble for fifth month in a row

China’s home prices fell at a faster pace last month than the previous month, a survey showed on Monday, as the central bank announced looser credit policies to try to avoid a sharp decline. The average price of a new home in 100 major cities wasFULL STORY

Taiwan Cement increases product prices in China

Taiwan Cement Corp (台泥), one of the nation’s leading cement suppliers, on Monday said that it has raised cement prices in China’s Guangdong Province amid rising demand. The firm said it has increased product prices in the province, its major market in China, by 20FULL STORY

Taiwan Business Briefs

Change lifts Fubon’s net worth Fubon Financial Holding Co (富邦金) yesterday said its net worth increased by NT$25.2 billion (US$826.18 million) to NT$341.7 billion at the end of last year, while net income grew NT$5.8 billion to NT$38.5 billion after it adopted a new accounting policyFULL STORY

New iPhone approved for sale in China

Apple Inc is set to sell the new iPhone 6 and iPhone 6 Plus in China next month after agreeing to improve user security and privacy. The devices are scheduled to go on sale on Oct. 17, the company said after China’s Ministry of Industry andFULL STORY

China PMI missed target last month: HSBC

China’s manufacturing activity came in below initial expectations last month HSBC said Tuesday, adding pressure on Beijing to address slowing growth in the world’s second-largest economy. The British bank’s final purchasing managers index (PMI), which tracks activity in China’s factories and workshops, came in at 50.2. However,FULL STORY

Bank investors eye stability

Banks will probably generate more reliable profits, though not at the high levels preceding 2008’s crisis, as firms adapt to new rules and pressure to cut risk, Citigroup Inc chief executive officer Michael Corbat said. “Investors’ expectations today should be lower volatility of earnings and steadierFULL STORY

Affordable housing has global price of US$11tn

Replacing the world’s substandard housing and building affordable alternatives to meet future global demand would cost as much as US$11 trillion, according to initial findings in a McKinsey and Co report. The shortage of decent accommodation means as many as 1.6 billion people from London toFULL STORY

Canada sets Google, Netflix deadline

Canada’s broadcast regulator on Monday gave US companies Google and Netflix a three-day deadline to turn over subscriber data or have their testimony expunged from a major public hearing, media reported. The Canadian Radio-television and Telecommunications Commission (CRTC) has been in a rare showdown with theFULL STORY

Economic upturn enables RBS to release provisions

State-backed Royal Bank of Scotland (RBS) is set to release £800 million (US$1.3 billion) from provisions it had set aside to cover losses on bad loans after an improvement in economic conditions, especially in Ireland. RBS yesterday said it also expected losses from bad loans toFULL STORY

World Business Quick Take

BANKING India keeps rates on hold India’s central bank yesterday kept interest rates on hold as expected as it awaits more proof that stubbornly high inflation is headed downward in Asia’s third-largest economy. After a meeting in Mumbai, the Reserve Bank of India said the benchmark repoFULL STORY

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