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TAIEX closes in on 10,000 points

Analysts said the Taiwanese stock exchange’s benchmark index, the TAIEX, is closing in on 10,000 points and that foreign institutional investors are a key factor in determining when the barrier is breached. The TAIEX on Friday gained 115.79 points, or 1.18 percent, in Taipei tradingFULL STORY

China state banks losing staff over cuts to pay, perks

Bankers at China’s top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms, such as leasing companies, trusts and online platforms, bankers and headhunters say. As part of an austerity, anti-graftFULL STORY

Stores refurbish to increase sales

By Amy Su

Several department store operators recently spent tens of millions of New Taiwan dollars on refurbishing their major stores as competition becomes fiercer in the fast-changing market. Earlier this month, Pacific Sogo Department Stores Co (太平洋崇光百貨), the nation’s second-largest department store operator, reopened two floors for jewelry,FULL STORY

Developers try on Apple Watch, tout rush of new apps

Software developers who tried on Apple Inc’s new Apple Watch for the first time on Friday predicted a rush of new apps over the next few months, particularly in areas including health and messaging. Developers, who had been limited to using software simulators of the watch,FULL STORY

CPC, Formosa raise gas, diesel prices

By Kevin Chen

The nation’s two oil refiners yesterday announced that they would raise domestic gasoline and diesel prices by NT$0.3 per liter and NT$0.4 a liter respectively, effective today. CPC Corp Taiwan (台灣中油) said global crude oil prices rose last week, after the latest data showed the USFULL STORY

Pakistan focuses on halal exports

Fruity sweets and packets of chicken soup that fall foul of halal laws are disappearing from Pakistan’s shop counters as the country looks to clean up its Islamic food credentials to boost exports to rich Gulf states. At the start of the year the government publishedFULL STORY

Abercrombie & Fitch eliminating shirtless greeters

Abercrombie & Fitch Co is saying goodbye to the shirtless beefcake models who greeted customers at its doors. The New Albany, Ohio-based company, which operates stores under its namesake brand and Hollister, announced on Friday that store associates will not be hired “based on body typeFULL STORY

Taiwan Business Quick Take

Luxgen orders recall Luxgen Motor Co (納智捷汽車) is recalling some of its minivans and sport utility vehicles (SUV) back to the shop to replace a faulty torque converter. The recall covers M7 Turbo minivans and U7 Turbo SUVs produced between Dec. 1 last year and MarchFULL STORY

VW chairman resigns over CEO dispute

Volkswagen AG board chairman Ferdinand Piech, a major figure in the German auto industry, has stepped down after clashing with other board members over his criticism of Volkswagen chief executive officer Martin Winterkorn. Volkswagen on Saturday said in a statement that Piech, 78, was resigning withFULL STORY

Croatians protest debt burden of Swiss franc loans

Thousands of Croatians with loans denominated in Swiss francs yesterday took to the streets of Zagreb to protest the increased debt burden caused by a surge in the Swiss currency. The police estimated that up to 10,000 people took part in the protest by demonstrators accusingFULL STORY

Bangladesh safety overhaul costly

About 220 garment factories have shut down in Bangladesh, with the loss of up to 150,000 jobs, after the collapse of the Rana Plaza in 2013, in the town of Savar, near Dhaka, shone a light on unsafe working conditions in the ready-to-wear industry, triggeringFULL STORY

ANALYSIS: Venezuela might have missed US$24bn in oil revenue

Venezuela, struggling to pay for essential items, such as food and medicine, amid strict foreign currency controls, might have failed to collect about one-third of its potential oil revenue last year, a Reuters analysis suggests. The OPEC member nation likely realized a little more than US$50FULL STORY

Like shale oil, solar power shaking up global energy

One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world’s top industrialized nations. With nuclear power in the doldrums after the Fukushima Dai-ichi meltdown, it is solar energy that is becomingFULL STORY

World Business Quick Take

FINANCE Blavatnik richest in Britain Ukrainian businessman Len Blavatnik was named the wealthiest man in Britain in a rich list published in the Sunday Times yesterday. Blavatnik, an investor in a range of industries, including oil, petrochemicals and media, is worth £13.17 billion (US$20 billion), according toFULL STORY

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