Apr. 29 – Huawei, the China-based multinational networking and telecommunications equipment supplier, is making attempts to expand its presence in India. According to Justin Chen, CEO of Huawei Technologies India Pvt. Limited, the company had recently started manufacturing network transmission equipment in its plant located in Chennai, South India.
Without disclosing the actual investment amount to be injected into the project, Chen added the plant will also manufacture wireless network equipment in the future. Continue reading
Apr. 29 – According to the latest Regional Economic Outlook published by the International Monetary Fund, growth is expected to continue and will average about 8 percent in emerging Asia.
The outlook, released in Hong Kong, said that both exports and domestic demand has been ensuring robust growth. India and China, who will lead the region, are expected to expand by 8 percent and 9.5 percent respectively, according to Anoop Singh, director of the IMF’s Asian department.
On the one hand, such growth will exert an upward pressure on commodity prices around the world. And on the other, their growth will spillover into other countries in the region by creating a heightened demand for inputs, said the IMF. Continue reading
Apr. 28 – Despite difficulties in their home countries, skilled entrepreneurs from Asia are leaving the United States and returning to countries such as China and India in droves, according to a recent study published by researchers from Harvard, Duke and UC-Berkeley.
Vivek Wadhwa, lead researcher and director of research at Duke University’s Center for Entrepreneurship and Research Commercialization, writes in his Businessweek column that the trend is in part due to economic difficulties in the United States, a desire to be closer to family, and the ease of capturing entrepreneurial opportunities in developing economies. Continue reading
Apr. 27 – China recently unveiled its 2011 plans for manned spaceflight development, taking further steps to approach the establishment of its first space station. The strong interest China holds in its space program, together with billions worth of investment in the field, is interpreted – by a U.S. National Aeronautics and Space Administration (NASA) advisor – as a “potent political symbol” that can impact the current space power balance among space industry-pursuing countries.
China’s Manned Space Engineering Office announced in its media briefing on April 24 that the country will place its focus on the rendezvous and docking project this year, and plans to launch the first piece of its space station – the Tiangong-1 Space Module – into orbit by the end of the year. Continue reading
Apr. 27 – India has earned support in the United Nations from countries such as Japan, South Korea, Bolivia, Oman and China in its efforts to cast aside a recommendation by the UN Environment Program to ban endosulfan, a chemical widely used around the world as an insecticide.
Within India itself, the chemical is subject to a contentious debate. The southern rural states of Kerala and Karnataka have taken the lead in attaining its ban, but both agribusinesses and local farmers seem unwilling as alternatives are costly. Continue reading
By Teja Yenamandra
Apr. 26 – India has arrested Suresh Kalmadi, former chief of India’s 2010 Commonwealth Games, in connection with alleged corruption.
Kalmadi, a politician with the ruling Indian National Congress party, was arrested with the alleged preferential granting of contracts to a Swiss watch company, causing a huge loss of taxpayer and government funds, according to a spokesperson for India’s Central Bureau of Investigation. Alleged irregularities also included mishandling of the Queen’s Baton Relay event, which is similar to the Olympic torch relay, before the Commonwealth Games. Continue reading
Apr. 26 – The 10-year-old Doha Round of the World Trade Organization (WTO) talks is faced with a “serious risk,” due to the fundamental disagreement between the United States and major emerging economies including China, India and Brazil on the tariff cut scale of manufacturing goods.
Pascal Lamy, WTO’s Director General, commented on April 21 that the differences between the developed and developing countries over how aggressively they should cut manufacturing trade barriers were “unbridgeable,” after he consulted with seven WTO members – Australia, Brazil, China, the European Union, India, Japan and the United States. Continue reading