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Ban dropped on finance firms
The nation's financial regulator said it dropped a restriction banning bills-financing companies from investing in stocks and keeping shares converted from bonds.
These holdings are restricted to 15 percent of their net worth, the Financial Supervisory Commission said in a statement.
Holdings in any particular company are capped at 5 percent of that company's paid-in capital, it said. Bills-financing companies had been required to sell shares within six months of converting them from bonds.
The changes are aimed at helping bills-financing companies diversify investment risks, the regulator's statement said.

Chinese Petrol buys Exxon oil
Chinese Petroleum Corp (中油), the nation's state oil refiner, bought about 4 million barrels of low-sulfur crude oil for loading next month from Exxon Mobil Corp, a Chinese Petroleum official said.
Chinese Petroleum bought crude oil to be loaded in two very large crude carriers, or VLCCs, which can carry as much as 2 million barrels of oil each. It bought about four cargoes of 1 million barrels each of Equatorial Guinea's Zafiro and Topacio crude oils, said the official who asked not to be identified.
Chinese Petroleum will pay a discount of US$2 a barrel to benchmark Brent crude oil prices for Zafiro and a discount of US$4 a barrel to Brent prices for the Topacio cargoes, said traders who submitted offers to supply the cargoes.
Crude oil with a sulfur content of less than 0.5 percent by weight, known as sweet crude oil, is more expensive than grades that contain more sulfur because refiners need to remove the pollutants.

Outlook rosy for electronics
The outlook for the nation's electronics industry for the fourth quarter this year is vibrant, Rock Hsu (許勝雄), chairman of the Taiwan Electrical and Electronic Manufacturers Association (電電公會) said yesterday, with expected growth of 25 percent from a year ago.
Hsu spoke to reporters after attending the opening ceremony of the Taipei International Electronics show.
He said soaring costs and oil prices may weigh on the recovery of the industry, but strong demand supported by a vigorous global economy will help the sector weather those storms.
Moreover, imports of electronic products for the first eight months of the year reached US$28.27 billion, a 22.5 percent increase from the same period last year, spelling a bumper year for the industry, he said.
The show, featured 890 participating companies occupying nearly 2,000 booths, runs through next Tuesday at the Taipei World Trade Center, Exhibition Hall I.

Cathay net income up
Cathay Financial Holding Co (國泰金控), the country's biggest financial services company, said unaudited net income was NT$25.4 billion (US$750 million) in the period from January to last month.
The Taipei-based company earned NT$3.16 per share, it said in a statement to the Taiwan Stock Exchange.
Based on the earnings, Cathay Financial may post a 3.8 percent increase in third-quarter profit, with net income likely rising to NT$7.42 billion, based on unaudited figures, from NT$7.15 billion posted for the third quarter of last year.
Cathay had net income of NT$20.9 billion for the first nine months of last year.

NT dollar gains
The New Taiwan dollar advanced against the US dollar on the Taipei Foreign Exchange yesterday, gaining NT$0.027 to close at NT$33.88.
A total of US$589 million changed hands.

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