CPC seeks oil tender
Chinese Petroleum Corp (中油) is seeking condensate, a light crude oil, for loading in March.
The company wants sellers to submit offers by today and the offers must be valid until the end of the day, the company said in a statement sent by e-mail.
Condensate is a type of light oil produced in association with natural gas and usually processed into products such as naphtha.
Chinese Petroleum usually buys Australian grade condensate from the Northwest Shelf region.
Chinatrust top bond manager
Chinatrust Securities Co (中信銀證券) managed the most in New-Taiwan-dollar-denominated bond sales last year, a Chinese-language newspaper reported, citing unidentified brokerages.
Chinatrust Securities, the brokerage unit of Chinatrust Financial Holding Co (中國信託金控), arranged NT$90.75 billion of bonds sold by companies and financial institutions last year, the paper said. A total NT$447.3 billion (US$13.3 billion) of bonds were issued in the year.
KGI Securities Co (中信證券) came second, followed by Deutsche Bank AG, Yuanta Core Pacific Securities Co (元大證券) and SinoPac Securities (建華證券), the paper said.
Warning on China's growth
China's economic growth may slow this year after a wave of factory construction and an increase in bank loans, the New York Times reported, citing economists specializing in China.
While China's economy appears to be strong, the nation may be in a bubble. Almost half of China's economic growth is associated with investment spending, an extraordinary portion, the newspaper said.
Japan in the 1980s, Thailand and Indonesia in the mid-1990s and the US technology boom in the late 1990s were marked by increases in investment spending that exceeded historical averages, according to data from Citigroup Inc's Smith Barney unit.
In those cases, millions lost their savings and jobs when the bubbles ended, the newspaper said.
Beijing reviewing auto policy
The Chinese government is reviewing its new automotive industry policy after overseas carmakers complained the original draft limited their investment in local partners, while asking them to transfer more technology, the Asian Wall Street Journal reported, citing a copy of the draft.
The new report, which is labeled "draft sent for approval" and is expected to de adopted after the Lunar New Year holiday, focuses on reducing the number of carmakers in China through mergers and acquisitions, as well as environmental protection and fuel efficiency, the newspaper reported.
SMIC gets expansion loan
Semiconductor Manufacturing International Corp, China's first producer of made-to-order chips, said it agreed a US$285 million loan from four Chinese banks to expand production capacity.
Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications and Shanghai Pudong Development Bank will provide the five-year loan, the Shanghai-based chipmaker said.
Samsung may buy equipment
Samsung Electronics Co, the world's second-largest semiconductor maker, may this year for the first time buy more equipment used to make chips than Intel Corp, the world's largest chipmaker, the Financial Times reported, without saying where it got the information.
Intel may spend US$3.8 billion this year, about the same as last year, the paper reported.
NT drop predicted
The Taiwan dollar may fall tomorrow as the halt in trading for the Lunar New Year holiday reduces demand from overseas investors. Fund managers abroad last week bought NT$29 billion (US$860 million) of local equities, pushing the currency up 0.3 percent in the same period, according to Bloomberg.
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