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.
SAFETY RISK: The government is working to categorize countries based on their COVID-19 cases and prevention efforts, which would determine quarantine periods The government plans to rank countries based on their COVID-19 risks to determine how to treat tourists and other travelers from those nations once Taiwan reopens its borders, but it is still working out the categories, a top health official told lawmakers yesterday. “We would divide countries around the world into several categories. One category would comprise those countries with very few confirmed COVID-19 cases, such as New Zealand and Palau. Travelers from the countries in this category would only need to practice self-health management,” Centers for Disease Control Deputy Director-General Chuang Jen-hsiang (莊人祥) told a Legislative Yuan seminar hosted by
CASH BOOST: Foreign spouses with residency permits are also eligible for the coupons, which can be bought at post offices or linked to digital payment options Stimulus coupons for Taiwanese and foreign spouses with residency permits can be ordered starting on July 1 and can be used from July 15 to Dec. 31, the Executive Yuan said yesterday. Aimed at boosting domestic spending, the coupons worth NT$3,000 (US$100.04) are to cost NT$1,000. “For our consumers, this is a very good deal as they get three times as much value for their money,” Premier Su Tseng-chang (蘇貞昌) told a news conference in Taipei. While the coupons are to have a wide range of uses, including at department stores, restaurants, book stores, night markets, beauty and hair salons, hotels, and to
SECURITY CONCERNS: The Telecom Technology Center ran black-box tests for the Executive Yuan on devices and software from Chinese, US and South Korean firms Network devices from several Chinese manufacturers are insecure and allow personal information to be leaked, testing commissioned by the Executive Yuan has shown. A variety of devices and software, including apps, from Chinese, US and South Korean manufacturers that are used by government agencies at the central and local level were subjected to black-box testing — in which the functionality of an application is examined without knowing about its internal structure, an information-security official said yesterday on condition of anonymity. The Telecom Technology Center conducted the tests, which simulated cyberattacks, to determine their resilience to the attacks, the official said. The center
Beijing is to ease a ban on foreign airlines starting on Monday next week, changing course one day after the administration of US President Donald Trump demanded that China reopen to US airlines or face curbs on its own carriers flying passengers to the US. Foreign airlines excluded from an earlier pact would be able to operate one commercial passenger flight to China per week, the Chinese Civil Aviation Administration said. It did not name any countries or carriers, but the move opens up a chance for US airlines to return for the first time in four months. While the timing might