Midea Predicts Profit Up 50% As Alibaba Cloud Strategy Takes Hold

Chinese home appliances group Midea is expecting a huge jump in its 2014 earnings. The company published its semi-annual performance prediction for 2014, stating that during the first six months of 2014, the company’s net profit is expected to increase by between 45% and 60% over the same period of last year; its earnings will reach between CNY6.059 billion and CNY6.686 billion; and its earnings per share will be about CNY1.44 to CNY1.59.


Apple to open new store in Chongqing on July 26 ahead of new retail push in China

Apple (NASDAQ:AAPL) is set to open its 11th store in mainland China later this month. The upcoming Chongqing Apple Store will open on July 26, according to the company’s own website (hat-tip to 9to5Mac for spotting this). Chongqing is a municipality in central China with over 30 million people. This isn’t Apple’s first foray into central China – far from the usual hubs around Shanghai or Beijing – as the firm opened a store in neighboring Sichuan province (in Chengdu) in late 2012.


New Zealand, Taiwan strengthen ties through visit of trade delegation

TAIPEI–A trade delegation from New Zealand is visiting Taiwan to seek more opportunities for bilateral trade cooperation, according to the New Zealand Trade and Enterprise, the country’s international business development agency. The arrival of the 30-member delegation marks the first such mission to Taiwan since the Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC) took effect last December, New Zealand Trade and Enterprise said Monday.


Technology groups question Ministry’s hardware development strategy

The draft information technology (IT) development strategy by 2020 compiled by the Ministry of Information and Communication (MIC) says Vietnam would develop Vietnamese hardware and & electronic products to replace imports. Analysts commented that MIC’s plans are a bit impractical, saying that there is no way for Vietnamese hardware and electronics manufacturers to develop. They said Vietnam should not waste time on developing Vietnamese brand computers and smartphones because the products with Vietnamese brands would not sell.


Opportunities, challenges for Vietnam’s software industry

Vietnam has reaped many successes in developing the software industry, but to expand the market of software products, it must pay more attention to human resources and product development, and appropriate support policies must also be put in place to support software businesses, a local paper said. Failing to compete with large groups of the US, Japan, the Republic of Korea and Germany such as Fujitsu, Hitachi and Samsung, which are governing the development of the global hardware industry, Vietnamese businesses have chosen to concentrate on software development, the Ministry of Industry and Trade’s Vietnam Economic News reported.


China and Hong Kong make up 22% of foreign trade in first five months

TAIPEI, Taiwan — Mainland China and Hong Kong accounted for 21.6 percent of Taiwan’s total foreign trade in the first five months of the year, showing no significant change in their share of Taiwan’s total export value. The Ministry of Economic Affairs (MOEA) recently said that the government’s efforts to diversify the country’s export markets are paying dividends given that this number has hovered around the same level since 2010 and increased 1.8 percentage points since President Ma Ying-jeou took office in May 2008.


Xiaomi sells 26.1 million smartphones in first half of 2014, still on target for 60 million this year

Xiaomi founder Lei Jun said this morning that the Chinese phone-maker has sold 26.1 million smartphones in the first half of 2014. He pointed out that it’s a leap of 271 percent from its sales last year, according to Xiaomi’s own blog (via The Next Web). Xiaomi sold 18.7 million smartphones in 2013, which was more than double its tally in 2012. The new 26 million figure means that Xiaomi is still on course to hit its target of 60 million phone sales for the whole of 2014.


Digitimes Research: Japan seeing increased exports to ASEAN

Trading activities between Japan and the Association of Southeast Asian Nations (ASEAN) are growing rapidly with the two sides’ import and export values both exceeding US$100 billion each year for the past five years. In 2013, the combined amount of import and export values between the two reached US$230.31 billion with ASEAN contributing 15.5% of Japan’s overall export value. The values are continuing to grow, according to Digitimes Research’s findings.


Line’s DIY sticker store now goes live in the US, UK, and 7 more countries

Early last month popular Japanese messaging app Line officially opened up its Creators Market in Japan, Taiwan, Thailand, and Indonesia, letting graphic designers sell their own graphics to users while splitting the fees 50-50 with the company. The market not only produced some extremely cool stickers, but brought in some respectable revenues for Line as well. In its first month of operations, the company brought in JPY 150 million (about US$1.47 million) in sales and doled out 1.7 million sticker sets.


Domain-name trade continues despite lack of legal framework

Domain names are traded in Vietnam, even though there is no legal framework for the business. The involved parties go ahead with sales because they say they cannot wait for the legal framework to be completed for transfer deals. The Ministry of Information and Communication in 2008 released a circular on the management and use of internet resources, which lifted the ban on domain name trade and transfer. However, the circular was not enough to pave the way for this kind of business.


Taiwan firms in Vietnam up and running

TAIPEI — Over 90 percent of Taiwanese businesses that suffered damage during last month’s anti-China riots in Vietnam have resumed operations, a Taiwanese business group said Friday. “Taiwanese businesses have tried very hard to resume operations and are not considering withdrawing their investment,” said Hsu Yu-lin (許玉林), the chairman of the Bing Duong (平陽) Taiwan Business Association’s reconstruction committee.


Asia, say hello to more Google-like offices

Working in Asia? Cloud computing could soon make your relationship with cubicles a thing of the past, according to real-estate services firm Jones Lang Lasalle (JLL).  In a report titled “Asia Offices 2020,” JLL said it expects Asia’s heavyweight cities – Singapore, Mumbai, Hong Kong, Shanghai, Sydney and Tokyo – to move towards open, efficient and collaborative working environments similar to the much-envied offices of Google and Facebook.


Want to be a successful startup? Settle in Thailand, but register your company elsewhere

Thailand’s startup ecosystem is accelerating fast and is prepared to kick start the tech scene onto the next level. We have startups like Ookbee, now evaluated at US$70 million, Builk, which represents Thailand at 500 Startups, and many others growing the tech scene to make the country proud. But even though quite a few startups were born and raised in the kingdom, many choose to register their companies outside of the country.


Kaohsiung — Gateway to Asia Opening Up to the World

KAOHSIUNG, TAIWAN — After its 2010 merger with Kaohsiung County, the port city of Kaohsiung in southern Taiwan now boasts a massive stretch of hinterland blessed with abundant natural resources. But there’s more. Home to both an airport and seaport, Kaohsiung pledges to make a new gateway for Asia. By balancing urban and rural development and enhancing international competitiveness, the Kaohsiung City Government vows to turn the city into Taiwan’s new economic showcase.