Business
Indian Commerce Minster Anand Sharma says while a perfect Doha deal may not be possible, he is hopeful a “balanced and fair” trade deal protecting the interests of the poorest countries could be reached. “We have to reassure the poorest of the poor that we are all committed to work collectively for development,” he said at a conference on global services trade in Washington on October 13.
China’s super-rich have bounced back from the financial crisis, and the country now has more known dollar billionaires than any other nation except the US, a study released in Beijing on October 13 said. The annual Hurun Report said China has 130 known dollar billionaires, up from 101 last year. The number in the US is 359, while Russia has 32 and India 24, according to Forbes magazine.
The Ford Motor Company of US on October 13 launched the largest single recall in its history, alerting owners to a fire hazard, the Wall Street Journal reported online. The recall involves the cruise-control deactivation switches on 4.5 million vehicles. It was the latest in eight recalls involving a total of 16 million cars and trucks by Ford due to the faulty switch, which is made by Texas Instruments, the Journal reported.
As the global economy recovers fully, the resilient Indian information technology industry can bounce to double-digit growth again, Infosys Technologies chief executive S. Gopalakrishnan has said adding that his own company will expand in Brazil, Mexico and China. “If we go back to normal conditions after the world economy recovers, a double-digit growth in the range of 10-20 percent is possible for the Indian IT industry,” Gopalakrishnan said in an interview in Bangalore.
Financial information provider Bloomberg is to buy Business Week magazine, three months after the publication was put up for sale due to plummeting ad sales. Terms of the agreement were not released, but broadcaster CNN reported that the price was believed to be around $5 million. The magazine is a mainstay of the US business world with a circulation of around 921,000.
Last Updated ( Thursday, 29 October 2009 18:03 )
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