Mitsubishi posts Q1 profit
Mitsubishi Motors Corp posted a ¥30.5 billion (US$328 million) profit for the January-March quarter, a reversal from red ink the previous year as government incentives helped along a gradual global recovery. Japan’s No. 5 automaker posted a ¥50.1 billion loss in January-March last year, but sales and profitability improved after that for a full fiscal year in the black, the Tokyo-based company said yesterday. Mitsubishi, which makes the Pajero sport utility vehicle and the i-MiEV electric car, recorded ¥4.76 billion in profit for the fiscal year ending March 31. It had a ¥54.9 billion loss the previous fiscal year. It is forecasting net profit to improve to ¥15 billion for the fiscal year through March next year.
AliExpress to accept PayPal
Chinese e-commerce firm Alibaba (阿里巴巴) said yesterday its new transaction platform would accept payments from users of US online payment service PayPal, amid efforts to expand overseas. AliExpress allows small businesses to purchase products listed on the site in their preferred currency using PayPal, Alibaba said in a statement. PayPal, a subsidiary of US e-commerce giant eBay, has more than 84 million active users around the world and allows payment in 24 currencies. AliExpress was officially launched on Monday, but has been trialed since September.
Software AG boosts profit
Germany’s Software AG yesterday cited improved sales and a recovery in demand for information technology services as its first-quarter net profit rose 9 percent. The software maker based in Darmstadt posted a net profit of 28 million euros (US$37.3 million) in the January-March period, compared with 25.6 million euros a year earlier. Revenues rose 51 percent to 250.3 million euros in the quarter, compared with 165.3 million euros a year earlier. Of those figures, the company’s maintenance revenue, a key barometer of future business, was up 17 percent to 85.4 million euros. Revenues were up across the board, including WebMethods, which includes business process management applications, which rose 9 percent to 81.4 million euros.
Electrolux returns to profit
Swedish appliance maker Electrolux AB said yesterday it returned to a profit from a loss in the first quarter, helped by favorable currency exchange rates and lower raw material prices. The company, based in Stockholm, reported a net profit for the first quarter of 911 million kronor (US$127 million), up from a loss of Kr346 million a year earlier. The company said the result was boosted by currency effects, increased efficiency in its operations and lower prices on raw materials. However, it said rising raw material prices could boost costs by up to Kr1 billion this year.
Consumer confidence grows
A survey says German consumer confidence is improving for the second consecutive month, reflecting hopes for an economic recovery. Survey institute GfK, based in Nuremberg, said yesterday that both economic and income expectations for next month had risen considerably in Europe’s biggest economy. The GfK’s overall indicator forecasts a value of 3.8 points next month, following a revised value of 3.4 points for this month. Last month, Gfk had recorded a value of 3.2, when it had fallen for a fifth consecutive month, as consumers worried about jobs and the implications of the debt crisis in other European countries.
SCHEDULE: The delegation is due to meet with President Tsai Ing-wen this morning and witness the signing of an MOU on bilateral health cooperation in the afternoon US Secretary of Health and Human Services (HHS) Alex Azar yesterday arrived in Taipei aboard a US government plane at the head of a delegation that is the highest-level visit by a US official since Washington switched diplomatic recognition to China in 1979. Azar’s flight landed at Taipei International Airport (Songshan airport) at 4:48pm, nearly one hour earlier than scheduled, the Ministry of Foreign Affairs said. The apron where it landed is reserved for military aircraft, the Songshan Air Force Base Command said. The members of Azar’s delegation included HHS Assistant Secretary for Preparedness and Response Robert Kadlec, HHS Chief of Staff Brian
CHINESE FIGHTERS: Beijing marked the US Cabinet member’s visit by briefly sending two warplanes across the median line of the Taiwan Strait yesterday morning President Tsai Ing-wen (蔡英文) yesterday met with US Secretary of Health and Human Services Alex Azar in the highest-level official meeting between the two nations since 1979. “It is a true honor to be here to convey a message of strong support and friendship from [US] President [Donald] Trump to Taiwan,” Azar said during the open portion of his courtesy call to the Presidential Office, which was streamed live online before Tsai and Azar held a closed-door meeting. “Taiwan’s response to COVID-19 has been among the most successful in the world, and that is a tribute to the open, transparent,
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
‘CROSS-STRAIT CONSIDERATIONS’: Groups said that the Ministry of Education’s policies excluded Chinese and students should not be blocked over political issues The Taiwan International Student Movement yesterday said it would protest today outside the Ministry of Education in Taipei against a policy that excludes some Chinese students from returning to Taiwan amid the COVID-19 pandemic. Since June 17, the ministry has allowed foreign students from 19 “low risk” and “medium-low risk” countries and regions to enter Taiwan. On July 22, it announced that it was relaxing restrictions to include students from all countries and regions who are graduating this semester and on Wednesday it further expanded entry to students enrolled in degree programs. A letter sent by the ministry on Wednesday to universities did