‘A NECESSARY EVIL’: Company shares topped the ‘hottest stocks’ list on the stock exchange yesterday, with 198 million shares changing hands in daily trading
By Lisa Wang
Asustek Computer Inc (華碩) shares plunged for a second straight trading session yesterday amid persistent investor concerns about potential losses as the notebook computer maker said it would divest itself of a PC manufacturing unit to separate its branding and manufacturing businesses.

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THINGS ARE PICKING UP: Consumer confidence last month was up almost 2 percent and private expenditure is expected to increase 1.55 percent year-on-year next year
By Ted Yang
The Chung-Hua Institution for Economic Research (CIER, 中經院) remained upbeat about Taiwan’s economic prospects as it slightly increased yesterday its estimate for next year’s GDP growth to 4.66 percent from a forecast of 4.65 percent in October.

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The New Taiwan dollar could rise 3.2 percent next year should the currency climb beyond the NT$32 level against the greenback, which would be a “bullish” signal, technical analysis by Forecast Singapore Pte said.

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A European business group yesterday urged China to delay a new government procurement plan that gives priority to Chinese “indigenous innovation,” a practice that links government purchases with local patents.

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By Ted Yang and Lisa Wang
The Financial Supervisory Commission (FSC) will soon establish criteria to assess applications by Chinese banks planning to open branches in Taiwan after a financial accord with China comes into effect in the middle of next month, commission Vice Chairwoman Lee Jih-chu (李紀珠) said yesterday.

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The legislature passed an amendment to the Foreign Trade Act (貿易法) yesterday that will require the government to set up a “Taiwan pavilion” or Taiwan exhibition zone at domestic and foreign trade fairs to help promote Taiwanese products.

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THIS YEAR AND NEXT: The Asian Development Bank increased its growth predictions, with estimates for next year remaining higher than those for this year
East Asia’s emerging economies are rebounding from the global recession faster than anticipated, the Asian Development Bank (ADB) said yesterday as it raised growth forecasts for the region.

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Indian Oil Corp, India’s second-biggest refiner, and its state-run rivals are spending 235 billion rupees (US$5 billion) to produce cleaner fuels and meet stricter emissions guidelines.

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Airlines are set to suffer bigger than expected losses of US$5.6 billion next year despite a recovery in passenger traffic, the air transport industry association IATA said yesterday.

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Shares close lower
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