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Largan ups bonuses to retain workers

By Lauly Li

Largan Precision Co (大立光), the world’s leading smartphone camera lens supplier, yesterday said it would increase monthly and annual bonuses for production line workers in an effort to recruit and retain workers for its new plant in Taichung. The extra bonuses would bring workers’ average annualFULL STORY

Export orders end higher than expected

By Lauly Li

The nation’s export orders climbed higher than expected last month by 6.9 percent year-on-year to US$45.92 billion, supported by robust demand for notebook computers, servers, networking devices and an international company’s newly launched smartphone, the Ministry of Economic Affairs said yesterday. The result beat the ministry’sFULL STORY

Rexon expects higher Q4 revenue on fitness demand

By Kuo Chia-erh

Rexon Industrial Corp Ltd (力山), which manufactures and distributes benchtop power tools and fitness equipment, on Thursday gave an optimistic outlook for the final quarter of this year on the back of growing demand for gym equipment. The company’s order visibility was brighter this quarter, RexonFULL STORY

Investments from the ‘New Southbound’ nations up 25%

Approved investment in Taiwan from countries targeted by the New Southbound Policy rose nearly 25 percent in the first nine months of this year from the same period a year earlier, the Investment Commission said yesterday. There were 411 approved investments by businesses from countries targetedFULL STORY

Taipower to issue ‘green’ bonds of up to NT$8.5bn

The Taipei Exchange has approved Taiwan Power Co’s (Taipower, 台電) request to issue “green” bonds of no more than NT$8.5 billion (US$281.1 million), the largest debt issue by a local enterprise this year. “Taipower’s proposal is in line with the Taipei Exchange’s guidelines for ‘green’ investments,”FULL STORY

Sprinta acquires the Bellazza Taipei Hotel for NT$5.58bn

By Crystal Hsu

Sprinta Inc has acquired a lodging facility in Taipei for NT$5.58 billion (US$184.52 million), making it the largest hotel deal this year, as less competitive hotels seek to exit the market. Bellazza Taipei Hotel (台北和璞飯店), a hotel combined with banquet facilities in Taipei’s Dazhi area (大直),FULL STORY

Australian manufacturer Holden produces last car

The last car yesterday rolled off the production line of Australian automaker GM Holden Ltd, marking the demise of a national industry unable to stand up to global competition. The closure of the Elizabeth plant in South Australia is the end of an era for Holden,FULL STORY

Workers protest at iPhone supplier in China

Hundreds of workers streamed through dark streets, blocking an entrance to an iPhone supplier’s factory in eastern China to protest unpaid bonuses and factory reassignments, two witnesses and a US nonprofit group said on Thursday. Jabil Inc, which runs the Green Point factory in Wuxi city,FULL STORY

Cities, states offer billions in tax breaks to lure Amazon

Amazon.com Inc is receiving offers of billions of dollars in tax breaks and other subsidies from cities and states across North America that are participating in a company contest to pick a location for its second headquarters. Elected officials are eager for the US$5 billion-plus investmentFULL STORY

Rio talks with Indonesia on exiting Grasberg mine

The Rio Tinto Group has held talks with Indonesian groups, including state-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio have held meetings inFULL STORY

Banks’ connection to South Africa’s Gupta case probed

Regulators in the US and Britain are looking into links between South Africa’s Gupta family, the country’s government, and banks they might have used to move money amid an escalating graft probe. In the US, the FBI has opened a formal investigation into individuals, bank accountsFULL STORY

Lyft gets US$1bn from Alphabet to rev up challenge to Uber

US ridesharing giant Lyft Inc on Thursday announced it has received a US$1 billion investment led by the venture arm of Google parent Alphabet Inc to help ramp up its challenge to market leader Uber Technologies Inc. Lyft said the new funding gives it a valuationFULL STORY

World Business Quick Take

FINANCE Singapore fund eyes ‘green’ Singapore’s sovereign wealth fund is teaming up with a company created by Goldman Sachs Group Inc to make its first-ever investments in renewable-energy projects in Japan. The fund, GIC Pte, is to become a corporate partner in GS Renewable Holdings GK, theFULL STORY

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