South Korea's foreign minister ruled out Friday additional negotiations with the United States over a free trade agreement, a day after presidents of the two countries vowed cooperation to push the stalled deal forward.

President Ma Ying-jeou said yesterday that the Economic Cooperation Framework Agreement (ECFA) won't be put into practice if the contents of the pact fails to clear the legislative floor.

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Vice President Vincent Siew said yesterday that the biotech and medical care industries will play a critical role in Taiwan's economic development.

The government will adopt a policy of increasing supply of apartments on the market rather than using financial or other measures to stem the continuing rise in housing prices.

Taiwan's economics ministry denied a newspaper report that it rejected an application submitted by a group led by Primus Financial Holdings Ltd. to buy the local unit of American International Group Inc.

Perng Fai-nan, governor of Taiwan's Central Bank, ruled out Thursday the possibility for him to work in the private sector after retirement, although his pay is relatively low compared with the central bankers of major countries.

The government is going to ease restrictions for Taiwan screen panel makers to invest in China as long as they keep their focus on the island, a local newspaper yesterday quoted Premier Wu Den-yih as saying.

Taiwan has seen a decline in speculative capital from overseas, central bank Governor Perng Fai-nan said, more than a week after the island's financial regulator banned foreigners from placing funds in time deposits.

Hong Kong Exchanges & Clearing Ltd.'s Chairman Ronald Arculli said asset bubbles may be looming in Asia amid burgeoning stock and property prices.