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Pegatron sees benefits in diversification

By Lauly Li

Pegatron Corp (和碩) hopes that its efforts to continue diversifying its product mix and client base will expand its operational scale, chairman Tung Tzu-hsien (童子賢) said. This strategy would also allow the company to grow without relying too heavily on a single client or a fewFULL STORY

Material costs could trigger CSC price hike

By Kuo Chia-erh

The rising costs of coking coal might force China Steel Corp (CSC, 中鋼) to raise domestic product prices for December contracts despite it reducing prices for October and November contracts by 1.3 percent per tonne. “Coking coal price would definitely affect China Steel’s production costs becauseFULL STORY

Analyst sees room for correction in stock market

The stock market will likely encounter technical corrections in the near future after a strong showing over the past week thanks to aggressive foreign institutional buying, Taishin Securities Investment Trust Co (台新投信) fund manager Wei Yung-hsiang (魏永祥) said. Selling might soon prevail because of worriesFULL STORY

Machine tools’ year might not be bad: TMBA

By Kuo Chia-erh

Machine tool exports might decline less than expected this year on the back of potential US orders, the Taiwan Machine Tool & Accessory Builders’ Association (TMBA, 台灣工具機暨零組件公會) said on Friday. Outbound shipments for the whole of this year might decline by just a single-digit percentage fromFULL STORY

US replaces China as Taiwan’s largest debtor

The US has replaced China as Taiwan’s largest debtor on the back of Taiwanese banks’ efforts to tighten control on lending to China in a bid to lower possible risks down the road, the central bank said. The exposure of Taiwan’s banking sector to theFULL STORY

Stronger NT dollar prompts CPC Corp to reduce prices

By Lauly Li

CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced it would lower its gasoline and diesel prices by NT$0.1 per liter from today, due to the appreciation of the New Taiwan dollar against the US dollar last week. The state-run oil refiner said international crude oil prices climbedFULL STORY

Disney axes ‘brownface’ costume after latest bid to cash in on Pacific culture

A social media firestorm that forced Walt Disney Co to withdraw a movie costume amid accusations it represented “brownface” shows Pacific islanders will no longer accept their culture being cheapened for profit, experts said. Polynesian culture has proved popular in recent years, sparking fads for island-styleFULL STORY

Sake brewers turn to overseas markets

Japanese brewery Ozawa Shuzo hums with activity as boxed bottles of sake are loaded onto trucks. However, due to a shrinking domestic market, more of it is bound for burgeoning overseas markets where the centuries-old drink is all the rage. The small establishment has recently drawnFULL STORY

Taiwan Business Quick Take

PAPER TPPC to close Sinying plant Taiwan Pulp and Paper Corp (TPPC, 台灣紙業) on Friday announced that it is to cease operations at its pulp and paper plant in Tainan’s Sinying District (新營) due to mounting losses. The company said in a filing with the Taiwan StockFULL STORY

Ecuador hopes for OPEC deal in Algiers

Ecuadoran President Rafael Correa on Saturday said that he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of “serious risks” for the group if they do reach a deal. OPEC members are to hold anFULL STORY

Algeria plans to privatize banks to diversity funds

Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. The plan is expected to open the door for foreignFULL STORY

G7 transportation heads back US guidelines

US Secretary of Transportation Anthony Foxx yesterday said that his counterparts in the G7 nations welcomed US guidelines on regulating self-driving cars and have agreed to work together on creating such standards to maintain safety. “There was actually a very enthusiastic reception to the policy,” heFULL STORY

Chinese firms California dreaming

From real estate to high-tech firms to entertainment giants, Chinese investments in the US, notably California, are moving at a dizzying pace and are on course to smash records again this year. Chinese companies shelled out a record US$15 billion last year in the US andFULL STORY

Snapchat adding line of video-catching sunglasses to broaden product offerings

Vanishing message service Snapchat Inc on Saturday announced it will launch a line of video-catching sunglasses, a spin on Glass eyewear abandoned by Google more than a year ago. The California-based company, which also announced it is changing its name to Snap Inc, said in anFULL STORY

IFC and Canada to finance Jordan’s latest solar farm

International Finance Corp (IFC) and the Canadian government helped fund a US$76 million solar power project in Jordan, which is seeking to curb its reliance on expensive natural gas imports and fuel a growing population. IFC, a member of World Bank Group, arranged the financing packageFULL STORY

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