NZX not affected by quake
NZX Ltd chief executive officer Mark Weldon said the Wellington-based bourse wasn’t affected by Saturday’s earthquake in Christchurch and will open as normal today. About 10 smaller Christchurch-based companies, mainly involving retail and finance-service operations, may have been affected by the quake, Welson said in a telephone interview yesterday, without identifying them.
Curb over-capacity: official
China should end preferential policies for automotive companies in order to curb over-capacity in an industry where sales jumped 55 percent last month, said Chen Bin (陳斌), a top official at China’s economic planning agency. Chen said booming auto sales were leading to blind investment in the industry, which could result in annual production capacity of more than 31 million units by 2015.
Trade deficit narrows
The US trade deficit probably narrowed in July as a slowing economy prompted Americans to buy fewer goods from abroad, economists said before a government report due this week. The gap between imports and exports decreased to US$47 billion from US$49.9 billion in June, according to the median of 60 estimates in a Bloomberg News survey ahead of the US Commerce Department’s report on Thurdsay. The deficit swelled by a record US$7.9 billion in June. Demand for overseas products may cool as American consumers and businesses curb spending in coming months, while growing foreign economies mean companies like Caterpillar Inc will see sales climb.
Investment rules relaxed
China has approved insurers to hold stakes and invest in property assets of unlisted companies, the China Insurance Regulatory Commission said yesterday in a statement on its Web site. However, insurers cannot invest in commercial property or be directly involved in real estate development, it said.
Operating revenues rise
Combined operating revenue at China’s 500 largest enterprises rose 6.3 percent last year, with the three top contributors coming from the energy industry, the People’s Daily said, citing an industrial rankings report. Operating revenue rose to 27.6 trillion yuan (US$4.1 trillion). Combined profits grew 25 percent to 1.5 trillion yuan last year, while combined assets increased 22 percent to 91.3 trillion yuan, the state-owned official newspaper said, citing a report by the China Enterprise Confederation and China Enterprise Directors Association.
New complex for Doha
Al-Futtaim, a family-owned business in the United Arab Emirates, signed an agreement with Qatar Islamic Bank and Aqar Real Estate Investment for a property project valued at 6 billion dirhams (US$1.6 billion). The venture plans to build an entertainment and retail complex in Doha, the companies said in a joint statement yesterday. The project will be located on the northern highway linking the Doha airport with the proposed Bahrain Causeway. Construction of the 433,000m² project will begin early next year and the first phase is scheduled for completion in the first quarter of 2012 and the remaining two phases by 2015, according to the statement.
HELPING HAND: Taiwan is ready to help other nations and will not sit idly by while the global fight against the coronavirus continues, President Tsai Ing-wen said Taiwan, as a responsible member of the international community, is to offer humanitarian assistance to nations hardest hit by the COVID-19 pandemic by sending them masks and medicine, as well as sharing with them an electronic system that the government has been using to track down people that need to be quarantined, President Tsai Ing-wen (蔡英文) said yesterday. With the nation’s daily production having reached 13 million masks and soon to reach 15 million, the government is to donate 10 million masks to medical personnel in nations most severely affected by the coronavirus, Tsai said at the Presidential Office in Taipei. The
NINE NEW CASES: The CECC said two locally transmitted cases of COVID-19, and seven imported ones – five women and two men – brought the nation’s total to 348 People who refuse to wear a mask on public transportation after being asked to do so would face a NT$3,000 to NT$15,000 fine, effective immediately, the Central Epidemic Command Center (CECC) said yesterday after announcing nine additional COVID-19 cases. In a move to curtail the spread of the novel coronavirus, the Ministry of Transportation and Communications on Tuesday announced that people must wear masks on trains and intercity buses, while Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, on Tuesday said that people should wear them when they cannot maintain a social distance of 1.5m indoors. Chen yesterday
TRILLION PROPOSED: The premier said the goal was to keep ‘businesses solvent, the unemployment rate down, transportation and logistics going, and cash flowing’ The Executive Yuan yesterday announced an expanded economic stimulus package totaling NT$1.05 trillion (US$34.64 billion), including NT$81.6 billion in subsidies for employers to prevent a spike in unemployment. The increased budget comprises a special budget of NT$210 billion, up from the NT$60 billion already passed by the Legislative Yuan; NT$140 billion — up from NT$40 billion — to be appropriated from the general budget; and NT$700 billion in loans to industries affected by the COVID-19 pandemic, Directorate-General of Budget, Accounting and Statistics Minister Chu Tzer-ming (朱澤民) told a news conference at the Executive Yuan in Taipei. The NT$150 billion increase in the
The Central Epidemic Command Center yesterday released a set of revised criteria for reporting suspected COVID-19 cases, while also announcing its guidelines for disclosing patients’ personal information. The center said that its advisory specialist panel revised the definition for “severe pneumonia with novel pathogens” — COVID-19 infection — by expanding the criteria needed to report suspected cases. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that physicians should report people for testing if they meet one of three clinical conditions: They have a fever, acute respiratory infection, or a lack of smell or taste; there is a