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December, 5, 2016

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Business > Asia
GU eyes 2,000 stores
This undated photo shows Tomoaki Suenaga, deputy head of Japanese clothing retailer GU. The sister brand of Uniqlo, GU sells fast fashion at about half the price. Suenaga said the brand was looking to have 2,000 shops worldwide and annual revenue of 1 trillion yen by 2026. "Big changes" for Taiwan are slated for the next six months, he said.
 
Fast-growing Asia-Pacific economies will strike more trade deals among themselves as opposition grows in Europe and the U.S. to globalization, analysts say, warning the West will lose out as the dynamic region powers ahead.
 
Anti-corruption protests sweep Asia
Anti-corruption protests sweep Asia
 
Malaysia's central bank is intervening in markets to support the beleaguered ringgit, an official said on Friday, as regional authorities grapple with a surging dollar.
 
Shares in Taiwan closed slightly higher Friday after moving in consolidation mode amid lingering concerns over a possible interest rate hike by the U.S. Federal Reserve, which would lead to more foreign funds flowing out of the region, dealers said.
 
HTC teams up with Shenzhen authorities in VR development
Taiwan-based smartphone vendor HTC Corp. (宏達電) said on Thursday that it has teamed up with the Shenzhen Municipal Government to raise 10 billion Chinese yuan (US$1.46 billion) for virtual reality development.
 
Aurora Corp. (震旦), a Taiwanese provider of office equipment, announced on Thursday it will enter into a joint venture with Japanese technology company Konica Minolta Inc., in a bid to attack the commerical printer market.
 
An interconnected world meets
Foxconn Chairman Terry Guo speaks at the 3rd World Internet Conference on Thursday, Nov. 17. The three-day conference hosted in Wuzhen, China kicked off on Wednesday, Nov. 16 and covers 20 internet-related topics in 16 forums.
 
The Philippines became developing Asia's fastest-growing major economy in President Rodrigo Duterte's first three months in office, officials said Thursday, even as his fiery rhetoric hit the peso and stock prices.
 
The U.S. dollar rose against the Taiwan dollar Thursday, gaining NT$0.020 to close at NT$31.868 after moving in a quiet session ahead of a congressional testimony from U.S. Federal Reserve Chair Janet Yellen scheduled for later in the day, dealers said.
 
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