PREFERENTIAL MOVE: Despite the losses in tax revenues that the new mechanism would entail, officials are confident it will bring new life to the local real estate sector
By Jimmy Chuang and Jessie Ho
The Cabinet approved amendments to the Land Tax Act (土地稅法) yesterday allowing homeowners to enjoy a preferential 10 percent rate of land value incremental tax throughout one's lifetime, with certain conditions.

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SOLAR SELLS: Demand for solar-cell equipment is expected to grow by as much as 20 percent every year, with global output set to reach 10 gigawatts
By Lisa Wang
Tainergy Tech Co (太極能源科技), a new solar-cell maker, said yesterday it would seek to boost production to approximately 1 gigawatt in Taiwan and China in the next few years on the back of robust demand amid growing awareness of the threat of global warming.

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By Jason Tan
Acer Inc, the world's fourth-largest personal computer maker, yesterday saw its share prices plunge by the daily limit for the second day, reflecting market doubts over its bid for US-based Gateway Inc.

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Weighed down by the US subprime mortgage issue, Taiwanese investor sentiment plummeted to a new low this month, but investors were still upbeat on the prospects of the stock market over the next 12 months, a poll said.

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By Lisa Wang
Chunghwa Telecom Co (中華電信), the nation's largest telecoms operator, yesterday said it plans to spend NT$5 billion (US$151 million) on setting up a property development and management subsidiary to revitalize 410 hectares of idle properties in light of a slowing telecoms industry.

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DEJA VU: Newly revealed minutes from a US interest rate policy meeting held earlier this month reignited investor fears that the subprime crisis is not yet over
Equity markets faltered yesterday in Asia and Europe after steep overnight falls in the US as investors were spooked by resurgent fears of a worldwide credit crunch.

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China Steel Corp (中鋼), the nation's largest steelmaker, posted a 57 percent gain in second-quarter profit after prices of the alloy climbed.

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Hon Hai Precision Industry Co (鴻海精密), the world's top maker of outsourced electronics, yesterday started operations in northern Vietnam, kicking off investment plans it says will reach US$5 billion.

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Trade with China increases

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