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.

Stocks are falling in early morning trading following the lead of overseas markets and as the dollar strengthened.

AOL Inc., the struggling Internet company, plans to cut about a third of its workers if its planned spinoff from Time Warner Inc. goes through.

American Express Co. is buying Revolution Money for about US$300 million to keep up with trends in electronic payments, where new security features and online transaction options are shaking up traditional models.

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

Nortel Networks Corp., the bankrupt Canadian phone-equipment maker, said it will hold an auction for its optical-networking business after a second bidder offered to buy the unit.

China, the world's second-biggest energy user, will increase the price of electricity for nonresidential users by 0.028 yuan (0.4 cent) per kilowatt-hour on average starting tomorrow, the official Xinhua News Agency reported, citing the National Development and Reform Commission.

China Investment Corp. bought a HK$5.5 billion (US$710 million) stake in the nation's biggest producer of polysilicon as the sovereign wealth fund invests in energy and commodities companies to hedge against inflation.

South Korea's economy is expected to grow faster next year than the previous forecast of four percent as it rebounds quickly from the global downturn, Finance Minister Yoon Jeung-Hyun said Thursday.