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October, 1, 2016

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Business > Asia
Sanxin Outlets Co., a joint venture between Japanese real estate developer Mitsui Fudosan and Farglory Land Development, signed a contract Tuesday with Taiwan International Ports Corp. (TIPC) to build an outlet mall in the Port of Taichung.
 
State-run Taiwan Power Co. (Taipower) is evaluating a proposal over whether to spend NT$9.5 billion (US$302 million) to rent gas generators from Tokyo Electric Power Co. Holdings, Inc.
 
Taiwan saw the number of visiting Chinese tourists plummet by 32.41 percent in August compared with the same period of last year, according to Tourism Bureau data, increasing concerns about more serious contraction of the market sector.
 
The yen extended its gains in Asian trading Tuesday as the Japanese and U.S. central banks kick off their latest policy meetings.
 
China is expected to announce plans to merge the country's top steelmakers this week, according to media reports, creating the world's second-largest manufacturer of the commodity, as markets struggle with a glut caused by Chinese overcapacity.
 
Chinese ship owners pay up for Australia reef disaster
The owners of a Chinese ship that ran aground on the Great Barrier Reef in 2010 agreed to pay Australia AU$39.3 million (US$29.6 million) on Monday, in a settlement dismissed by conservationists as "woefully inadequate."
 
A key gauge of China's debt has reached its highest level on record, setting off alarm bells of imminent risk to the banking system, a Swiss banking watchdog reported.
 
Afghan child labor
Afghan children help their father's work at a local brick factory on the outskirts of Kabul, Afghanistan, Monday, Sept. 19. While it is common for children in the county to engage in simple labor, tens of thousands of underage workers -- some as young as 5 -- are forced to work dangerous jobs, according to Human Rights Watch.
 
As home supply still exceeds demand, real estate prices will likely decline further in the short term, according to real estate agency Eastern Dragon International (東龍不動產).
 
Singapore court grants reprieve to Hanjin
Singapore's High Court has granted a temporary reprieve to troubled South Korean giant Hanjin, allowing its ships to sail into the city-state without fear of being impounded as it struggles to settle a US$5.37-billion debt.
 
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