BULLISH: The local stock market maintained its upward momentum despite the possibility that a capital-gains tax may soon be levied on institutional investors' stocks
By Amber Chung
The stock market yesterday withstood the potential impact of the government's plan to levy capital-gains tax on institutional investors' stocks, and continued rising for a second day, backed by a constant inflow of overseas capital.

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IMPORTS: The local branch of the US Meat Export Federation is planning a series of marketing events around the nation to restore consumers' faith in US beef
By Jackie Lin
Two weeks since the resumption of beef imports from the US, local importers, restaurateurs and retailers are gearing up to take back the market share US beef lost over the past 16 months.

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SURVIVAL: Only 25 percent of manufacturers from 1985 remain on the list of top companies, while the figure was 17 percent in banking and 13 percent in the service sector
By Jessie Ho
The top 1,600 local companies reported a record-breaking average revenue increase of 15.4 percent last year from the previous year, while profits soared 42.7 percent in the same period, according to a report released yesterday by the Chinese-language bimonthly CommonWealth.

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Mandarin Airlines (華信航空), one of the nation's four domestic air carriers, is scheduled to begin offering three-month-term charter flight services from Chingchungkang Airport in Taichung to Japan's Kansai International Airport from July 10, a company executive said yesterday.

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By Amber Chung
Chang Hwa Commercial Bank (彰化銀行), the nation's sixth-largest bank by assets, yesterday formally announced that it would halt its drawn-out auction for its global depositary receipt (GDR) issuance of 1.4 billion shares, citing unbridgeable differences between the bank and the interested bidders.

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Taiwan's central bank governor Perng Fai-nan (彭淮南) called on his Asian counterparts to work toward establishing a body that would stabilize exchange rates in the region.

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Cathay Financial Holding Co (國泰金控), the nation's biggest financial services company by assets, said it plans to issue its first real estate investment trust fund, or REIT, to raise NT$14 billion (US$450 million) in the third quarter.

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Wives uninterested in work
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