World business quick take

■ Automakers
Mazda to boost production
Japan's Mazda Motor Corp will double annual car production to 45,000 units in China next year from this year's projection, the Nihon Keizai Shimbun said yesterday. Japan's fifth-largest car maker plans to finish building new production lines next month at its Chinese partner, Faw Hainan Motor Co, at a total cost of ?2 billion (US$16 million), the business daily said. With the new production lines, Faw Hainan, based in Haikou, Hainan island, will raise output of Mazda's Premacy minivan and Familia subcompact to 30,000 units next year from 22,000 this year, it said. Mazda will newly entrust to China FAW Group Corp's subsidiary production of 15,000 units of Atenza midsize models starting next March, the newspaper said.

■ Trade
Minnesota eyes China
Minnesota's expanding agricultural trade with China will provide a US$428 million lift for the state's economy and generate more than 5,000 new jobs by 2010, according to a new study from the Minnesota Department of Agriculture. Minnesota exports to China will generate 3,600 new jobs and an additional US$307 million in economic activity by 2005, the study found. Last year, the state's agriculture exports to China topped US$149 million -- roughly 6 percent of the state total. The economic impact of the exports was US$285 million, and the exports supported more than 3,000 jobs.

■ Real estate
Malaysia still struggling
Analysts have warned that Malaysia's sluggish property market would remain weak in the near future with the government saying a shocking 10 billion ringgit (US$2.6 billion) worth of office space remains unoccupied. Although interest rates are low, a declining stock market and cautious consumer sentiment, among other factors weigh down the sector, they said. Nizam Idris, Singapore-based regional economist with IDEAglobal market research company attributed the glut to steady supply met by weak demand and a fragile economy. "There is still a lot of supply overhang. Demand has not been strong," he said. Nizam said the right step forward would be to cut supply but there was not much the government could do to bolster demand. "People are worried about the economy. Consumers are cautious and delaying big capital expenditure like buying cars and houses," he said.

■ Internet
EBay indicates hot toys
EBay Inc has become a bellwether of what's hot in the toy market, with retailers and analysts keeping an eye on the Web auction site to divine the bestsellers in the holiday season, the Washington Post reported. Most US retailers get more than half their annual sales in the months leading up to Christmas, and the site helps them understand a consumer's willingness to pay for certain items, the Post said. Wal-Mart Stores Inc, Toy `R' Us Inc. Target Corp, KB Toys and Kmart Corp have the bulk of toy sales. While they don't consider EBay a major rival, they do keep tabs on it, according to the newspaper. The retailers cut prices on the hot toys to attract customers, said Greg Ahearn of toysrus.com Consumers go to EBay searching for hard-to-find items. If all the winning bids were added up, their value could reach US$1 billion by the end of the year.

Agencies