CHINA
Manufacturers post gains
A gauge of activity at manufacturers posted its first gain since November last year, as factories recovered from a seasonal dip at the start of the year and export demand shrugged off threats of a trade war. The manufacturing purchasing managers index (PMI) rose to 51.5 last month, versus the 50.6 estimate in Bloomberg’s survey and 50.3 in February. The non-manufacturing PMI, covering services and construction, stood at 54.6, the statistics bureau said yesterday, compared with 54.4 in February. Levels above 50 indicate improvement. Manufacturing output surged last month as factories brought production back online after the Lunar New Year holiday, a statement by the statistics bureau said.
FRANCE
Inflation on rebound
Inflation bounced back last month, data showed on Friday, bolstering hopes that consumer prices in the eurozone are finally moving toward more growth-friendly levels. Annual inflation spiked to 1.5 percent this month, up from 1.2 in February, mostly thanks to price rises in services, food and tobacco products, the National Institute of Statistics and Economic Studies said in a first estimate. The figures from the eurozone’s second-biggest economy came a day after powerhouse Germany reported a rebound in inflation to 1.6 percent last month.
IRELAND
Guinness on Good Friday
Guinness was flowing in pubs yesterday, Good Friday, for the first time in 90 years. Lines of people were reported as pubs opened at 7am to serve alcohol, thanks to legislation that overturned the 1927 ban on pubs opening on Good Friday in time for thirsty locals and tourists. The Vintners’ Federation of Ireland welcomed the change, saying it would add 40 million euros (US$49 million) in sales. Federation chief executive Padraig Cribben said “the Good Friday ban is from a different era and is rightfully consigned to history.” The change means pub owners had a choice whether to open, “like all other businesses who were never subject to a ban,” Cribben said.
TELECOMS
Huawei profits rebound
Chinese telecom giant Huawei Technologies Co (華為) saw it profits rebound last year, helped by strong smartphone sales as it ramps up R&D spending despite suffering setbacks in its US ambitions. Huawei on Friday announced net profit climbed 28 percent last year to 47.5 billion yuan (US$7.5 billion), recovering from a near-stagnant 2016. The company said it sold 153 million phones and reported a 32 percent jump in revenues from its consumer goods business. However, its total turnover faltered, with growth halved to 15.7 percent for a total of 604 billion yuan.
BROADCASTING
Netflix travels Europe
Europeans on vacation can enjoy their online entertainment such as Netflix or BBC iPlayer as if at home all across Europe. “As of April 1, wherever you are traveling to in the EU, you will no longer miss out on your favorite films, TV series, sports broadcasts, games or e-books, that you have digitally subscribed to at home,” an EU statement said. The EU hopes the measure should prevent users from using illegal broadcast services or virtual networks.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
RSS