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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Roger Rose has been named CEO of Lockheed Martin India, with the responsibility for coordinating the global aerospace giant’s relationship and ongoing programme execution in this country.Rose succeeds Douglas Hartwick, who led the corporation’s New Delhi office through the creation of Lockheed Martin India Private Limited and helped explore potential opportunities in all aspects of cooperation with the Indian government and corporate partners, as per a company statement.
Last Updated ( Friday, 18 September 2009 12:12 )
Read more...Auto major Tata Motors has secured funding from commercial banks for its luxury unit Jaguar-Land Rover and no longer needs financial assistance from the British government. “We have been in discussions with commercial banks for Jaguar-Land Rover (JLR) funding facilities, many of which have been successfully concluded in the last few months and the balance is expected to be completed in coming weeks,” Tata Motors said a statement.
It’s the ultimate showdown in the technology world, the clash of giants that has been eagerly awaited for years. Web giant Google is taking its clearest aim yet at Microsoft with its plan to produce its own operating system that would optimise the way computers work on the Internet. The Chrome operating system is due to be out in the second half of next year and will initially be used in netbooks, company executives Sundar Pichai and Linus Upson said in a blog posting.
India’s private carrier Kingfisher Airlines is planning to launch flights on eight international routes this year, as reported earlier this month. “We have planned a roadmap for the next phase of international routes. We will start flying on the Mumbai-Hong Kong, Mumbai-Singapore sector Sep 16,” said an airline spokesperson. The six other routes on which Kingfisher intends to launch services are Delhi-Bangkok, Delhi-Dubai, Delhi-London, Mumbai-Bangkok, Mumbai-Colombo and Mumbai-Dubai. The airlin...
The number of people in Hong Kong suffering from depression has risen by more than a third as the global economic crisis rocks the wealthy city of 7 million people. Twelve percent of the city’s adult population now suffers from mild or more severe depression, according to the Hong Kong Institute of Asia-Pacific Studies, which surveyed more than 2,000 people. The percentage is the highest in seven years and a sharp rise on the 8.8 percent recorded in 2008.
