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August, 29, 2016

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  ASIAN MARKETS    Australia    China    
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Business > Asia
Australia will not allow the electricity network in its most populous state to be sold to Chinese and Hong Kong bidders, Treasurer Scott Morrison said Thursday, citing national security concerns.
 
Record profits for Australia's Commonwealth Bank
Australia's biggest lender Commonwealth Bank sounded a cautious note about the country's economic outlook Wednesday even as it posted a record AU$9.23 billion (US$7.08 billion) in annual profit.
 
Thanks to rising demand for system integration and cloud technology setup, the IT service industry grew 4.8 percent in sales from a year ago to NT$63.5 billion in the second quarter, the Economics Ministry reported on Wednesday.
 
Whichever way the wind blows
Taiwan's first Olympic wind-surfer, Chang Hao, takes to the seas in a clip from the movie "Ripples Apart (逐風少年). The movie, which premiered on the offshore island of Penghu, chronicles the life of Chang and began shooting in 2007.
 
Sushi express
This undated photo shows the "E7 bento box" of Japan Rail (JR) containing sushi and other delicacies. In cooperation with the Taiwan Railways Administration, three of the most popular JR bento boxes will be available for purchase at Taipei Main Station from Aug. 12 to 31.
 
The U.S. dollar fell against the New Taiwan dollar Wednesday, shedding NT$0.230 to close at NT$31.225 as traders were encouraged by further foreign fund inflows into the country to raise their holdings in the local currency, dealers said.
 
Shares in Taiwan continued its momentum to move higher and close above the 9,200-point mark Wednesday as the market remained awash in liquidity on the back of further fund inflows into the country, dealers said.
 
Taiwan-based smartphone brand HTC Corp. (宏達電), which has intensified its efforts to broaden its product portfolio, has teamed up with China's Alibaba Cloud in a strategic partnership to explore the booming virtual reality (VR) business.
 
Tax amendments to make Uber pay its fair share: ministry
The Ministry of Finance (財政部) said Wednesday it would propose Business Tax Act draft amendments in September to close loopholes that have allegedly enabled ride-hailing giant Uber to dodge taxes.
 
India's outgoing central bank chief insisted he had laid the foundations for sustainable growth in the world's best-performing major economy after keeping interest rates on hold in his final policy review Tuesday.
 
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