Sat, Nov 25, 2006 - Page 11 News List

Business Briefs

AGENCIES

M2 supply growth accelerates

The nation's money supply growth accelerated last month as more foreign capital flowed into the economy.

M2, the broadest measure of money supply, rose 5.95 percent last month from a year earlier after gaining 5.84 percent in September, the central bank said yesterday.

M1A, which tracks net currency in circulation plus checking accounts and passbook deposits, gained 6.49 percent last month after climbing 4.8 percent in September, the central bank said.

M1B, which excludes time deposits and foreign-currency deposits included in M2, rose 5.9 percent from a year earlier, following a 4.72 percent increase in the previous month.

Siemens may drop China plans

Siemens AG may withdraw from China's Internet protocol television market after failing to win a bid for a lucrative contract, Chinese state media reported yesterday.

An unnamed source told Shanghai Securities News that Siemens had already dismissed its Internet protocol TV team in China after the company lost a bid to launch services in Shanghai four months ago.

China's Internet protocol TV market is projected to have revenue of 16.7 billion yuan (US$2.1 billion) by 2009.

NT dollar loses ground

The New Taiwan dollar turned weak against its US counterpart yesterday, on fund outflows by some local trust firms and importers, traders said.

The local currency dropped NT$0.043 to close at NT$32.833.

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