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US hikes duty on CSC plates to 75.42%

By Lauly Li

The US Department of Commerce on Wednesday dramatically raised an anti-dumping duty on carbon and alloy steel plates from Taiwan’s China Steel Corp (CSC, 中鋼) from 6.95 percent to 75.42 percent in an amended final decision that affects imports from eight countries, the Ministry ofFULL STORY

CSC to lower prices to ensure competition

By Kuo Chia-erh

China Steel Corp (CSC, 中鋼), the nation’s largest and only integrated steelmaker, yesterday said it would lower steel prices by 5.28 percent on average for shipments in the third quarter in response to fluctuations in global markets. Prior to the cut, the steelmaker had raised pricesFULL STORY

Nanya Technology expects increased shortage of chips

By Lisa Wang

Nanya Technology Corp (南亞科技), the nation’s biggest DRAM chip supplier, yesterday said its chip shortage would worsen next quarter as supply cannot catch up with rising seasonal demand for smartphones and consumer electronics. Supply constraints have been in place since the fourth quarter of last yearFULL STORY

Expansion project to lead Shinkong Fibers growth

By Kuo Chia-erh

Polyester fiber and plastics maker Shinkong Synthetic Fibers Corp (新光合成纖維) yesterday voiced optimism about its business outlook for this year, thanks to a stable global economic recovery. “We also expect an ongoing capacity expansion project to drive growth momentum over the next three years,” Shinkong SyntheticFULL STORY

Business climate slips to ‘yellow-blue’ as strong NT dollar weighs on exports

By Crystal Hsu

The government’s business climate monitor signaled “yellow-blue” last month as the New Taiwan dollar’s appreciation weakened the nation’s exports and capital equipment imports in local currency terms, the National Development Council (NDC) said yesterday. STABLE STREAK The latest business climate gauge showed that the nation’s export-focused economyFULL STORY

Asustek to restructure in bid to revitalize growth

By Lauly Li

Asustek Computer Inc (華碩) yesterday announced structural changes to the company in a bid to revitalize its growth momentum, with a new business unit for gaming products to be formed in addition to an expansion of operational scope and resources for management. “Asustek’s growth has beenFULL STORY

Macronix upbeat over profitability

By Lisa Wang

Macronix Electronics Co Ltd (旺宏電子), which supplies read-only memory chips to Japan’s Nintendo Co, yesterday said strong demand has caused a severe shortage of its products, even in the slack season, boding well for the company’s profitability this year. Robust demand has boosted Marconix’s confidence thatFULL STORY

Authentication platform aims to boost convenience

By Ted Chen

Taiwan Certificate Authority Inc (TWCA, 台灣網路認證) and Taiwan Clearing House (台灣票據交換所) on Thursday launched TWID, an identification authentication service aimed at increasing convenience for consumers through improved online services. TWID provides a secured method for consumers to link their brokerage accounts to their bank accountsFULL STORY

Taiwan Business Quick Take

BANKING Cathay buys Scotiabank unit Cathay Financial Holding Co (國泰金控) yesterday said two subsidiaries have signed an agreement to acquire a Malaysian unit of the Bank of Nova Scotia (Scotiabank) for US$255 million. In a filing with the Taiwan Stock Exchange, Cathay Financial said Cathay Life InsuranceFULL STORY

Yuan fixing formula might change

China is considering changes to the way it calculates the yuan’s daily reference rate against the US dollar, a move that is likely to reduce exchange-rate volatility while undermining efforts to increase the role of market forces in Asia’s largest economy. Policymakers might add a “countercyclicalFULL STORY

Asian energy firms sink as crude falls 5%

Energy firms took a hit yesterday after crude prices plunged almost 5 percent the previous day as traders were left disappointed by OPEC’s latest output cuts. Keenly awaited talks between the bloc and Russia ended on Thursday with news that a deal to reduce output forFULL STORY

Amazon opens brick-and-mortar bookshop in NYC

Online retail giant Amazon.com Inc on Thursday opened its first brick-and-mortar bookstore in New York City, selling a limited range of its highest-rated books and letting customers browse products as in times gone by. Amazon, which launched as an online bookseller in 1995, but which nowFULL STORY

GSR said to near deal for Nissan battery venture

GSR Capital (金沙江資本), a Chinese private equity firm with backing from the Hubei provincial government, is nearing a deal to acquire control of Nissan Motor Co’s rechargeable battery unit for about US$1 billion, according to people with knowledge of the matter. The firm is in advancedFULL STORY

UK’s Spirax-Sarco to buy Chromalox for US$415m

Britain’s Spirax-Sarco Engineering PLC said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for US$415 million on a cash-free, debt-free basis. Spirax-Sarco, which makes steam traps and pumps for industries such as the food and beverage,FULL STORY

CIMB banker pleads guilty to insider trades in takeovers

Former CIMB Group Holdings Bhd banker Alan Tay Yeow Kee said he engaged in insider trading on two stocks before the companies received takeover offers. Tay, 41, pleaded guilty yesterday to trading on price-sensitive information in a Singapore state court and was fined S$180,000 (US$130,105). INSIDER INFO HeFULL STORY

World Business Quick Take

UNITED KINGDOM Growth slower than expected Economic growth slowed by more than expected in the first quarter, revised official data showed on Thursday ahead of the nation’s general election. Two weeks before Britons head to the polls in what is widely seen as a vote on BritishFULL STORY

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