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December, 6, 2016

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Business > Asia > Taiwan
The banking sector in Taiwan is not the only business that covets financial technology (fintech) solutions to meet demand in the fast-growing financial environment.
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.
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 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.
NT$10 billion auto insurance deal clinched
Trans-IoT general manager Lin Chun-yen (林俊彥) (left) poses with a representative from Taian Insurance at the announcement event for a joint automobile-related usage-based insurance plan on Thursday, Nov. 17. This is a NT$10 billion deal for Trans-IoT, a subsidiary of Foxconn.
Shares in Taiwan staged a mild technical rebound on Wednesday, after falling for four of the previous five trading sessions, with the market's weighted index briefly rising back above the 9,000-point mark, dealers said.
The U.S. dollar fell against the Taiwan dollar on Wednesday, shedding NT$0.022 to close at NT$31.848 as the local currency continued a technical rebound from a recent slump, dealers said.
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