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Wind turbine protesters stage sit-in

By Helen Ku

About 30 protesters yesterday staged a sit-in at the Ministry of Economic Affairs to express their objection to the government’s management of a wind turbine construction project in Miaoli County’s Yuanli Township (苑裡). The protesters, mostly members of the Yuanli Self-Help Group (苑裡反瘋車自救會), accused the ministryFULL STORY

Taiwan’s GDP based on global rules: minister

Taiwan calculates its GDP based on international standards and cannot do it any other way, National Development Council Minister Kuan Chung-ming (管中閔) said yesterday, in response to an economics professor’s criticism that the formula is flawed. Kuan said GDP is determined by a set of rulesFULL STORY

Taiwan slips in trade competitiveness poll

By Amy Su

Taiwan saw its overall trade competitiveness fall out of the top 10 of 54 global major and emerging economies, pointing out the importance and urgency of passing the cross-strait service trade agreement, the sixth annual survey by the Importers and Exporters Association of Taipei (IEAT,FULL STORY

Rising Johnson & Johnson orders set to boost Intai

By Camaron Kao

Intai Technology Corp (鐿鈦), which makes parts for surgical instruments, precision hardware, and radio frequency and microwave switches, yesterday forecast a revenue increase of between 10 percent and 15 percent this year as it benefits from rising orders from Johnson & Johnson. The company, which shipsFULL STORY

China demand boosting local LCD TV and PC panel makers, WitsView says

By Lisa Wang

Global shipments of LCD TV and PC panels grew 11 percent last month from February, thanks to increasing demand for TV panels ahead of the Labor Day holiday in China, market researcher WitsView said yesterday. Panel shipments rose to 66.57 million units last month from 59.79FULL STORY

Cosmos to become a merchant bank: China Development

By Crystal Hsu

China Development Financial Holding Co (中華開發金控) aims to turn newly acquired Cosmos Bank (萬泰銀行) into a merchant bank focused mainly on small and medium-size corporate banking, cross-border trade financing and treasury business, senior executives said yesterday. The acquisition, which still needs approval from the Financial SupervisoryFULL STORY

Macronix shares rise on Samsung news

By Lisa Wang

Shares of memorychip maker Macronix International Co (旺宏電子) rallied to almost reach the 7 percent daily limit yesterday on reports that it has tapped into the rapidly growing wearable technology market by supplying chips for Samsung Electronics Co’s latest wearable device. The surge came following aFULL STORY

Asia Cement reaches Sichuan deal

By Kevin Chen

Asia Cement (China) Holdings Corp (亞洲水泥中國控股), the Chinese unit of Taiwan’s second-biggest cement maker, yesterday said it has reached a share purchase deal with Sichuan Lanfeng Cement Co (四川蘭豐水泥), two days after the company issued a positive profit alert for the previous quarter. In separate filingsFULL STORY

Tool exports boosted by better global conditions

By Camaron Kao

The nation’s machine tool exports rose 4.6 percent last quarter from a year ago on the back of strong demand in Europe, data showed. The results indicate a strong recovery for the nation’s machine tool sector, which suffered an annual decline of 16.2 percent last yearFULL STORY

E.Sun Commercial Bank establishes service with PayPal

By Crystal Hsu

E.Sun Commercial Bank (玉山銀行) yesterday entered an exclusive partnership with US payment provider PayPal to further grow its e-commerce business and increase its fee income. The two firms launched a new service that enables merchants to capitalize on cross-border trade. ‘INNOVATE AND EXPAND’ “The new proposition comes inFULL STORY

China’s growth slows to 18-month low

China’s economy grew at its slowest pace in 18 months at the start of this year, but did a touch better than expected and showed some improvement last month, suggesting Beijing will not rush to follow up recent steps to support activity. Authorities have ruled outFULL STORY

Yahoo posts stronger-than-expected profit

Yahoo Inc reported a stronger-than-expected first-quarter profit on Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant’s “core” business. The California Internet company said it earned US$312 million on revenue of US$1.1 billion, topping most forecasts. Profits were down 20 percentFULL STORY

Africans losing US$1.8bn a year in fund transfer fees

Africans are losing US$1.8 billion a year due to high fees levied on funds sent from abroad by relatives, Britain’s leading think tank on development said yesterday. The Overseas Development Institute found that Africans face some of the highest charges in the world for international transfers,FULL STORY

Thousands go on strike at Chinese shoe factory

Tens of thousands of workers were on strike yesterday at a factory in southern China which makes shoes for Nike and Adidas, rights groups and a worker said. More than 30,000 staff at the Yue Yuen Industrial (Holdings) (裕元工業) factory in Dongguan city have been strikingFULL STORY

US declines to name PRC as currency manipulator

The administration of US President Barack Obama is raising concern about the value of China’s currency, but is declining, as in recent years, to accuse Beijing of manipulating it. The US Department of the Treasury said the yuan has appreciated, but not as fast or asFULL STORY

Intel earnings fall on PC market slide, but revenue grows

Intel Corp’s earnings fell in the first three months of the year amid a continued slump in the worldwide PC market, but revenue grew slightly because of solid demand for tablet processors and its data-center services. Intel, the world’s largest maker of microprocessors, said on TuesdayFULL STORY

World Business Quick Take

BITCOIN Mt. Gox to be liquidated Failed bitcoin exchange Mt. Gox has given up its plan to rebuild under bankruptcy protection and has asked a Tokyo court that it be liquidated, Dow Jones Newswires reported yesterday. Reasons for the decision are the complexity of the procedures involved,FULL STORY

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