Category: Other

BANGALORE, India, Nov 7, 2006 (AFP) – Shareholders of Indian software major Infosys Tuesday approved a plan for converting 30 million local shares into its US counterpart in a bid to list the firm on the Nasdaq index, officials said.N.R. Narayanamurthy, chief mentor of Nasdaq-listed Infosys technologies said the price of the American Depository Shares […]

HANOI, Nov 7, 2006 (AFP) – Most Vietnamese appear to welcome their country joining the World Trade Organisation (WTO) but many also fear they must step up the pace or fall behind as the country enters the fast lane of globalisation.A recent international Gallup poll found that the communist ruled and so far McDonalds-free country […]

BEIJING, Nov 7, 2006 (AFP) – Boosted by a huge and growing trade surplus, China’s forex reserves have shot past the one-trillion-dollar mark and nothing is likely to stop them rising even further, analysts said Tuesday.“They have grown by 200 billion dollars a year over the past three years …and they will continue to grow […]

NEW DELHI, Nov 7, 2006 (AFP) – The government may cut income tax rates as more people are declaring their income and paying taxes than ever before, India’s finance minister said Tuesday.P. Chidambaram told a conference of economic editors that the percentage of revenue raised from income tax has risen to 11.2 percent of GDP […]

BANGALORE, India, Nov 7, 2006 (AFP) – The retired founder of software giant Infosys Tuesday took a swipe at officials of India’s southern Karnataka state over their bid to rename Bangalore as Bengaluru, or “the town of boiled beans.” “For me, changing the name is not important,” Infosys chief mentor N.R. Narayana Murthy told reporters. […]

The media rights body Reporters Without Borders (RSF) had voiced concern over a series of recent actions taken against journalists in the Indian Ocean coral islands of Maldives. Maldivian authorities have arrested an opposition cartoonist, expelled two foreign journalists including one working for the online newspaper Minivannews.com and backtracked on plans to end the state’s […]

HANOI, Nov 6, 2006 (AFP) – Vietnam is set to become the 150th member of the World Trade Organisation (WTO) Tuesday after 20 years of market reforms that have made the communist ruled country one of Asia’s fastest growing economies.Hanoi hopes admission to the Geneva based club will further boost trade and investment for the […]

TOKYO, Nov 6, 2006 (AFP) – The Tokyo Stock Exchange said Monday it had raised its order handling capacity to 14 million per day from 12 million as part of an upgrade following a series of technical problems.Asia’s largest bourse came under heavy criticism after it closed early for the first time ever in January […]

PRETORIA, Nov 6, 2006 (AFP) – Senior International Monetary Fund (IMF) officials Monday said inflation-ravaged Zimbabwe was a dark spot in sub-Saharan Africa, which is otherwise set for higher economic growth next year.“The situation is very bad in Zimbabwe.Inflation is higher than 1,000 percent,” Abdoulaye Bio-Tchane, the director of IMF’s Africa department, said in Pretoria. […]

HYDERABAD, India, Nov 3, 2006 (AFP) – Indian corporate giant Reliance Industries began a multi-billion dollar superstore rollout Friday with promises to the nation’s small traders that it would not drive them out of business.The 11 slick, air-conditioned stores which opened in this southern city are a novelty in the country of 1.1 billion people, […]