Thu, Jan 19, 2012 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

Nation to host global realtors

Taiwan has won the bid to host the annual conference of the International Real Estate Federation (FIABCI) next year, which will bring together property industry leaders from around the world to chart new industry developments.

Huang Nan-yuan (黃南淵), head of the Taiwan branch of the International Real Estate Federation, announced yesterday that the nation had won the right to host next year’s FIABCI World Congress, at which the FIABCI Prix d’Excellence Awards are also presented.

Huang, who also heads the Real Estate Association of the Republic of China, said the association is encouraging public and private projects to compete for an award. The project categories include urban planning, environmental rehabilitation and conservation, and urban renewal, he said.

UBS not laying off staff

UBS Taiwan said yesterday that it would not be trimming its workforce, as the European debt crisis does not affect its core businesses.

“We expect revenue and profit to expand this year after making significant improvement last year,” T.C. Lee (李天成), head of the bank’s Taipei branch, told a media briefing. Lee declined to give detailed numbers ahead of the disclosure of the bank’s financial results by its parent firm.

The Taipei branch hires 300 employees devoted to private banking, and wealth and asset management services. It plans to add 15 relationships managers this year to strengthen its private banking business.

Cracker to start this year: CPC

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) plans to start a naphtha cracker at its Greater Kaohsiung facility by the end of the year, a company official said, declining to be identified because of company policy.

The plant, with the capacity to produce 600,000 tonnes of ethylene a year, is currently under construction, the official said.

On Tuesday, Central News Agency, citing Minster of Economic Affairs Shih Yen-shiang (施顏祥), reported that the government may allow domestic companies to invest in naphtha crackers in China provided they have management control.

Exports to ASEAN soar

Exports to six members of ASEAN surged to a record 16.5 percent of total outbound shipments last year, while those to China dropped 1.6 percentage points to 40.2 percent, government statistics showed yesterday.

The six ASEAN states are Singapore, Malaysia, Philippines, Thailand, Indonesia and Vietnam.

Singapore accounted for half of the US$9.38 billion export value to ASEAN last year and Vietnam the second-highest amount, the Directorate-General of Budget, Accounting and Statistics said.

The total value of the nation’s exports last year stood at US$308.3 billion, up 12.3 percentage points from a year earlier, data showed. Shipments to the US accounted for 11.8 percent, an increase of 0.3 percentage points. Japan took a 5.9 percent share and the EU 9.3 percent, which represented decreases of 0.7 percentage points and 0.6 percentage points respectively.

NT dollar edges higher

The New Taiwan dollar strengthened and government bonds were little changed before the week-long Lunar New Year holiday that starts on Monday.

The NT dollar rose 0.1 percent to NT$29.978 against its US counterpart, according to Taipei Forex Inc. Turnover totaled US$836 million during the trading session.

The yield on 1.25 percent notes due to mature in September 2021 was steady at 1.285 percent, according to the GRETAI Securities Market.

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