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The AEN on World Wide Web
Britain's pioneering independent
Indian Asian English newspaper
-The AEN reaches places
worldwide, serving and
raising a voice for
the humanity globally
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Founding Editor
Mr.Vallabh Kaviraj is a longstanding Indian journalist, Poet and
writer in London, who is the fouding Editor-Publisher-Owner of
the pioneering first independent Indian Asian English newspaper-The
AEN which he has founded in London 1973, and The AEN-The Asian
Express Newspaper is published on World Wide Web daily.
He is also founding Editor-Publisher-Owner of Global Business
Focus.com and The AEN News Diary.com, which are published on World
Wide Web daily
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The Asian Express Newspaper
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"The AEN News Service"
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write via email to Editor
info@asianexpressnewspaper.com
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Global Economy
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Japan's Central Bank keeps
interest rate at 0.5%
Japan's Central Bank reportedly has kept interest rate at 0.5%
same as the last month.
Reportedly last month's quarter points rise was the second hike
in more than six years.
Last year, the bank reportedly raised the rate to 0.25% in July,
following six years of zero interest rates, to help the economy
recover from deflation.
The March decision to keep rates on hold wasreportedly unanimous.
Japan's interest rates are still well bellow the benchmark rates
of 5.25% in the US and 3.75% in the eurozone, media reports said.
-The AENNS (20/03/07)
In India, signs of overheating
in economy causing concern
In India, reportedly signs of overheating in economy have shown
causing for concern, and two top economic planners today warn
of overheating in economy expressing it has been expanding at
a hurtling pace causing inflation to inch higher.
Mr. C. Rangrajan, Chairman of Economic Advisory Council, and Mr. Montek Ahluwalia,
Planning Commission Deputy Chairman, reportedly expressed concern
saying they see some signs of overheating in economy.
Mr. Rangrajan who was a former governor of Reserve Bank, reportedly
said that current price rise was unacceptable. He added " In today's
world, inflation rate of 6 per cent is not acceptable, certainly
we should address supply side problems and we should also address
monetary demand side which is growing at over 20 per cent."
Reportedly in India, inflation rose to 6.46% for the week ended
March 3, from 6.10% the previous week, media reports said.
-The AENNS (20/03/07)
In UK, inflation rate rising to 2.8%
In the UK, according to the Consumer Prices Index (CPI) measures,
reportedly inflation rose 2.8%, up from 2.7%.
Reportedly the inflation figure - pushed up by increase in air
passenger duty, news reports said.
Also, according to the Retail Prices Index (RPI), reportedly retail
prices rose to 4.6% from January's figure of 4.2%.
Reportedly the RPI includes mortgage interest payments, and is
used in many wage negotiations, media reports said.
-The AENNS (20/03/07)
IMF's leading members
agree to back proposed
reform plans
International Monetary Fund (IMF)'s leading members reportedly
have agreed unanimously to back proposed reform plans giving more
IMF voting rights to emerging economies of the world.
Reportedly the IMF's 184 members are voting on a proposal to change
voting - which would immediately increase the votes of China,
South Korea, Turkey and Mexico.
IMF's top steering committee, chaired by UK's Chancellor Gordon
Brown, reportedly has backed the move, describing the move as
the biggest shake-up of the IMF in six decades, welcoming a comprehensive
reform package for voting quotas, expecting to be completed no
later than the 2008 annual meeting.
Reportedly the IMF's 24-strong international Monetary and Financial
Committee is meeting in Singapore. The proposal needs to win 85%
of votes to pass. The voting deadline is Monday afternoon, and
results will be announced after that.
However, reportedly not all emerging countries are behind the
new proposals.
India believs the fund should overhaul the system on one step,
not in proposed two steps which are being voted now.
Argentina and Brazil wanting to see their voting share increased
quickly too, media reports said.
-The AENNS (17/09/06)
World's developing nations
must invest in young people
-says World Bank report
There are now a record of 1.3 billion aged 12 - 24 living around
the world. Those numbers could create problems in many nations
if socities do not adapt.
Developing nations must invest in young people, promoting education
and developing essential skills, a World Bank report said.
Reportedly young people are thought to make up about half the
world's unemployed, says the report.
According to figures reported, the demographic window of opportunity
varies from countries to countries: in industrialised countries
such as Japan and Italy it closed about ten years ago.
Reportedly China has just a few years of its window of opportunity
still remaining, the bank estimates, but India, with a young population,
still has 30 years.
The report identifies failings in vital areas such as education
and development of key skills.
Health issues are also a major concern. Governments should plan
ahead in order to offer the young the best opportunities to develop
their capabilities and family life, the report says.
If developing nations fail to invest, it will be impossible to
remedy the missed opportunity,said observers.
-The AENNS(16/09/06)
Rethink for global trade deal
-says head of WTO
World Trade Organisations (WTO) members should stop blaming each
other and countries have to re-examine their negotiating positions
in order to revive free trade talks, the head of the Worltrade
Organisations(WTO) reportedly has said.
Reportedly the WTO's director-general Pascal Lamy made the comments
after the latest batch of last-ditch talks to save a global trade
deal collepsed.
The US and Europe blamed for the failure, Brussels rapped America's
inflexibility,while the US said Europe lacked ambition to reach
a deal, news reported.
The head of the WTO urged countries to examine their position
and review their positions but avoid blaming one another for the
suspension.
That could mean even further delays to the so-called Doha Round
of Talks which began in 2004.
Mr. Lamy reportedly said the trade talks would not be concluded
this year.
A meeting of leading trading nations (G6) group, which has been
held in Geneva from 23-24 July, appears to have collapsed after
US trade negotiator is said to have refused to compromise over
farm subsidies.
Reportedly after 14-hours of talks on Sunday, discussions reconvened
to see what could be salvaged, but to no avail, news reports said.
The EU, US, Australia, Brazil, India and Japan have been negotiating
a deal to boost world trade in industrial and agricultural goods.
The talks have failed to advance on the key area of farm subsidies.
Negotiating trade ministers reportedly had warned that if the
current talks failed to make a breakthrough, there was little
use for further discussions on 28 and 29 July.
The meeting in Geneva is the latest in a long line of last ditch
attempts to save the trade treaty.
World Trade Organisations (WTO) director-general Piscal Lamy reportedly
decided no more negotiations should be attempted, media reports
said.
-The AENNS(25/07/06)
India's Foreign Trade
policy is welcomed widely
India's Foreign Trade Policy which is announced today is welcomed
widely and many Foreign Direct Investors will see the opportunity
to invest in India.
Reportedly the Foreign Trade Policy, terming it as a pragmatic
approach that would boost exports.
Complimenting Commerce & Industry Minister Kamal Nath, business
leaders said the annual supplement of Foreign Trade Policy 2004-09
will further spur exports, promote manufacturing base, attract
FDIs and help create new job opportunities for both skilled and
unskilled work force of the country.
Also many observers home and abroad believe that Minister Kamal
Nath's well planned policy would help small businesses, cottage
industry as well as family businesses, which are struggling to
survive at present in rural areas of the country.
The new scheme will positively give a large impact to sectors
like auto components, aviation and host of other sectors on which
strong fundamentals will be built for betterment of Indian economy,
said business leaders as well as observers.
-The AENNS(07/04/06)
Europes's biggest
economies hit rough patch
Eurozone growth reportedly is near standstill. Reportedly the
12-nation eurozone saw growth of just 0.3% in the three months
to June, down from 0.5% the previous quarter,for an annual rate
of 1.2%.
Germany was registering zero growth for the period.
The US economy grew 0.8% in the second quarter for a 3.6% annualised
rate.
And Japan,whose GDP figure is announced on Friday,is expected
to be comfortably ahead of the eurozone as well as domestic demand
picks up pace.
It is the domestic picture which has proved to be one the eurozone's
key weakness,media reports said.
-The AENNS
India, China two emerging
global economies laying
foundation for corporatisation
India and China two emerging global economies are laying foundation
for corporatisation and reportedly agreed to establish a stretagic
and co-operative partnership as a leverage to negotiate with a
changing global order.
Prime Ministers of both countries, India and China, which are
the emrging world economies agreed while accepting that both countries
would stand to gain substantially by working as partners rather
than rivals, got down to the business of identifying areas of
covergence, even as the two set a bilateral trade target of $20
bn in 2008. Reportedly a regional trading arrangement has been
proposed which will be looked into by a joint task force.
To create a more conductive pro-investment atmosphere two sides
conclusively agreed and China reportedly accepting Sikkim as an
Indian state,media reports said.
-The AENNS
India third largest
economy by 2025
In the next 25 years, India and China will become major players
in the world economic arena, surging ahead of the industrial US
and European power, a global economic experts said, a news report
ed.
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Global Business
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India to attract billions
of dollars worth
investment in telecom
equipment
manufacturing
India is reportedly set to attract billions of dollars worth investment
in telecom equipment manufacturing.
Rising demand for a wide range of telecom equipment, particularly
in the area of mobile telecommunication, reportedly opened up
opportunities to domestic and foreign investors.
A large nuber of foreign companies have shown interest in setting
up centress, believing India is expected to be a manufacturing
hub for telecom equipment, news reports said.
-The AENNS (29/12/06)
India's mobile phone market
is growing fast as consumer
spending rising in country
India's mobile phone market is growing fast as consumer spending
is rising in the country.
A number of foreign mobile phone companies are entering the Indian
mobile phone market.
Foreign firms are limited to owning 74 per cent of Indian mobile
phone providers.
However, media have suggested that a number of foreign mobile
phone firms are interested in investing in India.
Vodafone is reportedly considering a bid for the Indian mobile
phone arm of Hutchison Whampoa but faces stiff competiton, news
reported.
-The AENNS (22/12/06)
UK entrepreneurs see
golden opportunity to do
business in India today
Report by Vallabh Kaviraj
A longstanding Indian
journalist, poet in London
UK Trade & Investment sector organised a special business seminar
in London on Wednesday 29, March, to highlight about business
opportunities in India today.
A large number of entrepreneurs attended the seminar, finding
that a golden opportunity available to do business in this vibrant
country India should not be ignored.
A special session on -Retail in India was greatly appreciated among the audience, because well experienced
speakers provided the audience with invaluable insight into this
sector, including aspects of mall design, retail consulting, licence
getting, franchising, and distribution law.
The session was chaired by Manoj Ladwa, a well known young Indian
lawyer in London.
Finally, the reception in evening, was hosted by Stephen Lillie,
Director of Trade & Investment-India and given an opportunity
for networking among entrepreneurs, and ended the programme with
a musical dace provided by Bollywood group.
The AEN -The Asian Express Newspaper was there to observe the
event.
India's $3bn hardware
centre to create 10,000
new jobs in Hydrabad
India has reportedly authorised the country's first micro-processors
and silicon chips manufacturing facility for the IT industry.
Reportedly the $3bn project will be based in the southern city
of Hydrabad and is expected to create 10,000 new jobs.
The project reportedly is important for India, as despite being
a leading global player in the IT sector, it has to import key
components of computer hardware.
India's IT sector will be worth $22bn by 2015, reportedly said
experts, news reported.
-The AENNS
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India's Power Sector
opens up big opportunity
for FDI
Report by Vallabh Kaviraj
A longstanding Indian journalist
in London
India is the sixth largest global energy consumer in the world
today, and with the population of over one billilon people, its
economy is growing faster than ever before, therefore, the demand
is increasing considerably day by day.
By the modest estimates, India's Power Sector requires an aggregate
investment of US $100 billion during the Eleventh Plan (2007-12)
for expansion of generation, Transmission & Distribution and rural
electrification facilities.
Therefore, India's Power Sector opens up big opportunity for Foreign Direct Investment and Indian delegations visited Britain last week to promote challenges
and investment in the sector, indicating the Electricity Act 2003,
has freed notified rural areas from requirements of a distribution
license, and the electrification area offers big opportunity for
FDI.
Mr. S. Jagdeesan, Economic Minister in the Indian High Commission
at India House in London on Monday 3, April, organised a meeting
with the Indian delegation and invited representatives of various
British and Indian companies to meet the members of the delegation.
The delegation members; Mr.Umesh Narayan Panjiar, Additional Secretary
- Ministry of Power Government of India, Mr. S.K. Garg, Chairman
& Managing Director-National Hydroelectric Power Corporation Ltd.,
Mr. R.K Jain, Director (Technical) NTPC Ltd., and Mr. Vinoy Mathur,
Additional Director (Head Trade Fairs Division) Federation of
Indian Chamber of Commerce & Industry, gave a brief presentation,
outlining the progress of the Power Sector of India and they answered
questions from the audience.
Mr. Panjiar told the audience that electrification would cover
most villages in the country as well as cover sea coast areas
of Gujarat, Maharashtra and Andhra pradesh, and India will welcome
the Wind Power Energy system to be established in the country.
He also announced that the Power Sector of India would held an
international conference and exhibition from May 11-13, in New
Delhi, this year, and all are welcome to attend the great event
and see the progress made in this sector, said Mr. Panjiar.
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