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HK billionaire Li Ka-shing ready to buy Taiwan’s Iberwind

HONG KONG: A joint venture controlled by Hong Kong billionaire Li Ka-shing agreed to buy the Portuguese wind-farm developer Iberwind Group in a deal worth as much as 288 million euros (US$324 million), the purchasers said here the other day in a regulatory filing. Li’s Power Assets Holdings Ltd and his Cheung Kong Infrastructure Holdings Ltd each own half of ... Read More »

Taiwan could face EU fish ban over illegal fishing

TAIPEI: Taiwanese fish products could face an import ban in Europe after the European Commission issued a yellow card on Thursday over illegal, unreported and unregulated fishing (IUU). Taiwan, as well as the Comoros, which also received a yellow card, have now six months to commit to regulate their fishing industry. “The decision to issue a yellow card to Taiwan ... Read More »

Taiwan’s PMI jumps to 46.1 in Sep

TAIPEI: The official manufacturing purchasing managers’ index (PMI) increased to 46.1 last month, from 45 in August, but still indicating further decline in operating conditions for industry due to slack demand from clients at home and abroad, the Chung-Hua Institution for Economic Research (CIER) said yesterday. The grim results are consistent with a private PMI reading of 46.9 by Nikkei ... Read More »

Taiwan trade delegation in Liverpool to enhance trade ties

TAIPEI: A delegation of business leaders from Taiwan visited Liverpool to look at investment and trade opportunities. The party was led by the Taiwan Representative in the UK, Dr Chih-Kung Liu, and included senior officials from the Taipei Representative Office (TRO) in London. They came to Liverpool following work done by Liverpool Vision’s London office on promoting the city in the ... Read More »

Taiwan’s Neo Solar plans to invest $15m Phanes Group

TAIPEI: Solar cell manufacturer Neo Solar Power Corp yesterday said it plans to invest US$15 million for a 30 percent share in European solar energy system developer Phanes Group, making great strides in expanding its presence in the global solar power plant market. Neo Solar has been moving into the solar power plant business in pursuit of a stable source ... Read More »

Acer downplays plans to cut jobs

TAIPEI: Acer Inc yesterday downplayed concern about possible retrenchments, after an internal letter from Acer Taiwan operations president Towny Huang said the company was looking to let go of 15 employees in Taiwan. The company expects higher productivity to lead to increased competitiveness, Huang said in the letter, which was written in English and sent to top executives in Taiwan. ... Read More »

Taiwan consumer confidence index drops 0.83 points to 85.32

TAIPEI: Consumer confidence dropped slightly this month, weakening for the fifth straight month, as people feel less optimistic about the job market’s prospects amid an economic slowdown, a monthly survey by National Central University showed yesterday. The consumer confidence index dropped to 85.32, down 0.83 points from last month’s 86.15, as all component indicators softened with the exception of the ... Read More »

Apple upgrade plan to benefit Taiwan’s Hon Hai

TAIPEI: Apple Inc’s iPhone installment plan in the could shorten the iPhone replacement cycle and expand its second-hand market, which would benefit its main assembler, Hon Hai Precision Industry Co, in the long term, as it also runs Apple’s iPhone trade-in scheme in China, analysts said. The US company on Sept. 9 announced a new iPhone installment program for iPhone ... Read More »

Quanta Computer revenue expects to touch $3bn

TAIPEI: Quanta Computer Inc’s revenue is expected to top NT$100 billion (US$3 billion) this month, driven by growing demand for Apple Inc’s Apple Watch and notebook computer products from other brands, analysts said. “Apple Watch’s arrival in three more countries this month will surely benefit Quanta’s monthly sales performance,” a Yuanta Securities Investment Consulting Co analyst said by telephone. Given ... Read More »

Taiwan’s unemployment rate climbes to 3.9% in Aug

TAIPEI: The nation’s unemployment rate climbed to 3.9 percent last month, from 3.82 percent in July, as new graduates continued to increase the jobless population, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. The latest jobless reading suggested a stable labor market — which lags behind major economic indicators by three to six months — DGBAS deputy section ... Read More »

Taiwan fruit export to Fujian up 30%

TAIPEI: According to statistics of Xiamen Customs, 31,400 tons of fruit was exported from Taiwan to Fujian, a province in the Southeast of China, from January to July 2015. This is 30% more than in the previous year. Pineapple is the largest and fastest growing import category. Import of pineapple mounted to a total of 18,100 tons, double that of ... Read More »

Taiwan export orders dip 8.3% in Aug

TAIPEI: Export orders fell at a higher-than-expected rate of 8.3 percent year-on-year last month on sluggish demand for consumer electronics products primarily in China, which does not bode well for the nation’s economic growth this quarter, statistics released by the Ministry of Economic Affairs yesterday showed. The outlook for this month is bleak as the decline in export orders is ... Read More »

Taiwan’s Hiwin plans to invest $1.53m on robotics research center

TAIPEI: Hiwin Technologies Corp, the nation’s largest machine tool supplier, said it plans to invest NT$50 million (US$1.53 million) over the next five years on a robotics research center to step up its expansion into sophisticated rehabilitation robots. As machine tool demand slumps due to competition from global rivals and a weak global economy, China in particular, Hiwin sees robotics ... Read More »

Taiwan brokerage losses surge 761.79% to NT$1.76bn in Aug

TAIPEI: Losses incurred by the nation’s securities brokerages last month expanded 761.79 percent from the previous month to NT$1.76 billion (US$53.88 million), as shares were hamstrung by the global stock market rout, according to Taiwan Stock Exchange (TWSE) data. Last month, the TAIEX slumped 5.66 percent, or 490.42 points, and market turnover contracted 0.98 percent from July, causing local brokerages’ ... Read More »

Siemens AG signs deal with Swancor Industry to supply wind turbines

TAIPEI: Siemens AG yesterday said it has inked an agreement to supply two wind turbines to Swancor Industry Co Ltd’s wind farm operating subsidiary as part of a project to build the nation’s first offshore wind farm. Formosa I Wind Power Co, which is fully owned by Swancor, is to start operating two offshore wind turbines with a combined capacity ... Read More »

Taiwan manufacturing revenue falls 0.8% to $391.92bn in H1

TAIPEI: Manufacturing revenue shrank 0.8 percent annually to NT$12.84 trillion (US$391.92 billion) in the first half of the year, dragged down by weaker-than-expected global smartphone demand and falling global crude oil prices, the Ministry of Economic Affairs said here the other day. Revenue in the second half may be flattish or even decline from a year earlier because of a ... Read More »

Yuan deposits in Taiwanese banks dip 2.88% to $1.29bn

TAIPEI: Yuan deposits at Taiwanese banks fell 2.88 percent to 326.94 billion yuan (US$51.29 billion) last month from July, as the Chinese currency’s widening volatility fueled unease among corporate and individual clients, the central bank said here the other day. It was the second consecutive month of decline and the fastest pace of retreat since Taiwan allowed yuan deposits in ... Read More »

Asustek targets 5% share of India market

TAIPEI: Buoyed by stronger-than-expected pre-orders for the latest ZenFone 2, Asustek Computer Inc last week moved forward the release date of ZenFone Laser in India and said it aims to secure a 5 percent market share in that nation next year. The Taiwanese PC maker has sold more than 1.6 million units of its ZenFone series since it tapped into ... Read More »

Taiwan’s LDC signs deal with HK broker

TAIPEI: Taiwan Land Development Corp (TLDC) yesterday inked a deal with a Hong Kong broker to find buyers and retailers for a pre-sale residential project in Hualien. The Taipei-based firm is developing 637 vacation homes on a 37,000 ping (122,100m2) plot of land in Hualien Bay, a fast-growing tourist destination. “We intend to limit the sales of the upcoming apartments ... Read More »

Hon Hai sales jump by 6.48%, Pegatron sales up 16.4% in Aug

TAIPEI: Apple Inc’s iPhone main assemblers Hon Hai Precision Industry Co and Pegatron Corp yesterday reported the highest August sales in their histories, with both expecting sales for this month to continue expanding on the back of new iPhone models. Hon Hai said consolidated sales last month rose 6.48 percent to NT$292.91 billion (US$89.1 billion) from a year earlier, pushing ... Read More »