Chinese
firm doing feasibility study of manufacturing in
India
BEIJING, Dec 15: One of Chinas leading
household appliance suppliers is mapping out a
new blueprint for foreign direct investment in
India, a senior company official has said.
Following
its first manufacturing investment project in
Vietnam, Midea Group will set up
another in Russia and is studying the feasibility
of setting up a third overseas manufacturing
facility in India, China Daily
reported.
Midea
is also stepping up feasibility studies of a
manufacturing project in India, CEO of
Mideas daily electronic appliance division,
Zhang Hechuan said.
The
groups Vietnam project, with an investment
of 25 million US dollars, had recently started
trial operations. The facility specialises in the
production of induction cookers and electric
cookers.
The
overseas investment projects are also expected to
help the firm shun international trade barriers
including anti-dumping moves against products
from China.
The
appreciation of the Chinese currency makes the
investment more cost-effective, Hechuan added.
The
company aims to see total sales of 12.33 billion
US dollars by 2010.
The
overseas sales revenue of the company is expected
to reach 2.5 billion US dollars this year, up 25
per cent year-on-year, the report said. (PTI)
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Nepal
has nearly one million mobile phone users
KATHMANDU,
Dec 15: The number of mobile phone
users in Nepal is about to cross the one
million mark, according to the
countrys largest telecom operator.
There are
presently 936,482 mobile phone
subscribers in Nepal, out of which
117,208 are post paid cell phone users,
according to a latest data published by
state-owned Nepal Telecom.
The
company has so far distributed 528,756
fixed line phones including public
switched telephone networks (PSTN), it
said.
The United
Telecom Limited (UTL), an Indo-Nepal
joint venture, has issued 52,855 lines
operating on wireless local loop (WLL)
technology.
Cell phone
users spends on an average USD 5.20 per
month, while a fixed phone subscriber
spends around USD 13.25, according to the
data by Nepal Telecom.
Of the
total 3,914 village development
committees across the country 1,886 VDCs
still do not have access to basic
telephone service. Besides Nepal Telcom,
Spice Nepal, a private company is also
providing mobile phone services. (PTI)
|
Tiger
supremo says Balasingham was best friend
COLOMBO, Dec 15: Sri Lankas
top Tamil Tiger leader Velupillai
Prabhakaran today described his chief
peace negotiator Anton Balasingham, who
died in London yesterday, as his best
friend and source of energy while
conferring upon him a posthumous title.
Balasingham,
68, died of bile duct cancer and his
funeral is due to be conducted in London.
"A
source of unwavering strength in the
political and diplomatic efforts of our
freedom movement, and the light of our
nation is extinguished,"
Prabhakaran, 52, said.
"His
death comes at a time when we needed him
most, as our freedom struggle
intensifies. I cannot find words to
express my grief and loss,"
Prabhakaran said suggesting that there
could be an intensification of conflict.
Balasingham
first met Prabhakaran in Tamil Nadu in
the late 1970s and since then they had
been close associates.
"From
the beginning of our struggle, when we
first met, there was a deep mutual
understanding. The fondness that rose
from that understanding developed into a
rare friendship. We thought and acted in
unison. Our friendship grew in strength
through our shared day-to-day
experiences.
"This
friendship stands apart from ordinary
human relationships. It matured with time
and was shaped by our shared
history," Prabhakaran said.
Prabhakaran
conferred the title of "Voice of the
Nation" on Balasingham who had been
the chief peace negotiator of the
Liberation Tigers of Tamil Eelam (LTTE)
since 1985.
"I
was deeply fond of Bala Annai. In the
great family that is our movement he was
its eldest son and its guiding star for
three decades. That is how I looked up to
him," Prabhakaran said in his
eulogy.
Analysis
and diplomats said Balasingham was a
moderate within the LTTE and was flexible
and could have helped a political deal to
end the islands drawn out Tamil
separatist conflict.
There was
no immediate replacement for Balasingham
named by the Tigers. (PTI)
Diana
report should quiet conspiracy theorists:
British press
LONDON, Dec 15: Following the
publication of a long-awaited report into
the death of Princess Diana in a 1997 car
crash, the British press today hoped it
had provided enough information to
quieten relentless conspiracy theorists.
The
report, which concluded Dianas
death was a "tragic accident",
dismissed theories that it was a murder
plot by British intelligence.
It was
immediately condemned by Mohammed
Al-Fayed, the father of Dianas
boyfriend Dodi, who also died in the
crash, who described it as a "cover
up" and renewed his accusations that
the British establishment organised it to
prevent Diana marrying a Muslim.
Harrods
owner Mohammed Al-Fayed, however, bore
the wrath of the editorial pages of
British newspapers for his relentless
campaigning.
The Sun
tabloid, Britains best-read daily,
wrote in its "The Sun Says"
editorial page: "Princess
Dianas death in Paris was a
catastrophic waste of a young life."
"But
she was NOT pregnant. She was NOT
engaged. She was NOT assassinated by MI6
(Britains foreign secret service)
-- or anyone else."
"These
claims should be dismissed as the deluded
ravings of a man driven mad by grief for
his son. But Prince William and Prince
Harry lost their mother too."
The Daily
Mirror tabloid voiced similar, if less
forgiving, sentiments in its editorial
page, when it wrote that the
"conspiracy theorists who claim she
was assassinated by secret service
agents, or that aliens in a space ship
were responsible should in future keep
their mad ramblings to themselves."
The
editorial pages of The Guardian echoed
those views, declaring that "reading
between the lines-and even on the face of
parts of the report-it is clear that the
findings are totally devastating to any
remaining credibility claimed by Mr
Al-Fayed".
"There
is only one conspiracy in this
long-dragged out tale. Mr Al-Fayed has
been indulged in it long enough. His
behaviour has been monstrous. He must
move on and shut up."
The Daily
Telegraph, meanwhile, said that
Al-Fayeds "understandable
grief over the loss of his son should not
be permitted to generate endless malign
suspicion."
"For
the sake of the two bereaved princes,
this inquiry and the public inquest to
come must be allowed to put the matter to
rest."
The Times
was less harsh on Al-Fayed, but carried
on along the same theme: "This is
not, sadly, likely to be the last word on
this subject. Conspiracy theorists will
always find a new angle or avenue."
"But
with the publication of this vast tome
and the official inquests early next
year, all rational people should pay
their final respects to those who died,
and move on."
The
Independent, however, stood out, for
supporting a sceptical attitude toward
the report, and the death in general,
noting that it "can be a healthy
instinct." (AGENCIES)
|
Luxury
car maker rolls out big plans for India,
China
HONG KONG, Dec 15: China and India are
expected to form the thrust of
super-luxury car marque Rolls-Royce's
expansion plans in the next few years,
chairman and chief executive Ian
Robertson has revealed.
In an
exclusive interview with AFP, Robertson
said China had become the company's
third-largest market in the past year and
India was likely to close the gap soon.
He said
China's four successful dealerships would
be complemented with three more in the
new year, while India -- which recently
witnessed a return of the brand after a
50-year absence -- would see another
outlet open in 2007.
"Growth
in Greater China is unique, it's very
special," said Robertson, in Hong
Kong for the unveiling of a 14-strong
fleet of Rolls-Royce Phantoms that will
ferry guests of the famous Peninsula
Hotel around the city.
"We've
seen 60 per cent growth there this year
-- it has overtaken Japan as our biggest
Asian market," he added.
"Usually
5 per cent either way means the
difference between a great year and a not
so great year in other markets; that
gives you some indication of how big
China has become."
For
Rolls-Royce, Greater China encompasses
Hong Kong, which in the 1990s laid claim
to owning the highest per-capita number
of the luxury cars.
Robertson
said that title was likely to be held now
by Los Angeles, which accounted for a
third of all cars sold in the US, still
Rolls-Royce's biggest market, ahead of
Britain.
While,
Hong Kong remains an important sales
point, the company's three other Chinese
dealerships in Shanghai, Guangzhou and
Beijing are propelling the country's
sales.
Guangzhou,
the regional capital of China's wealthy
southern industrial heartland, has seen
terrific growth.
"At
one point last year, sales in Guangzhou
were neck and neck with those from our
Beverley Hills dealership," said
Robertson. "Beverley Hills has since
taken the lead again."
Such is
the pace of growth among Chinese buyers
that the company is to extend its
dealerships to Hangzhou, Shenzhen and
Chengdu.
Leading
the charge is Rolls-Royce's 2003-launched
Phantom, the first car to roll off its
new Goodwood, southern England production
line following the company's acquisition
by German auto manufacturer BMW in 1998.
Robertson
expected Rolls-Royce to have sold 600 of
the cars worldwide by the end of the
year, a 16-year record for the former
British company.
Among the
milestones in the new car's history is
the brand's return to India, which had
snubbed the car for the majority of the
past 50 years.
"After
Indian independence Rolls-Royce was not
made welcome, along with many other
foreign brands," Roberston said.
With the
country's recent economic growth has come
a liberalisation of trade and Rolls-Royce
opened its first Indian dealership in
Mumbai last year. Another is planned for
the capital New Delhi in 2007.
"We
are particularly pleased with the return
to India because it is the country we've
had our longest relationship with,"
Robertson said.
"Our
return was marked by very strong sales
and we are expecting at least
double-figure growth in the coming
years." (AGENCIES)
|
Chinese
indicted in plot to sell military trade
secrets
SAN JOSE,
CALIFORNIA, Dec 15: A Chinese engineer
was charged with stealing trade secrets
from a Silicon Valley company that made
military training software and attempting
to sell them to Asian Governments.
Xiaodong
Sheldon Meng, 42, a Chinese national with
Canadian citizenship, was indicted
yesterday on 36 felony counts, including
the rare charge of economic espionage to
benefit a foreign government and various
violations of military technology export
laws.
Prosecutors
say Meng stole the code for software made
by his former employer, Quantum3D Inc,
that is used to train military fighter
pilots, and tried to sell it to the Thai
and Malaysian air forces and a company
with ties to China's military.
Under US
law, anyone attempting to sell such
information overseas must first obtain a
license from the State Department and is
subject to strict regulations. Meng never
applied for such a license.
No foreign
government or agent was named as a
conspirator in the case, and prosecutors
declined to discuss whether any of the
secrets were sold or whether any foreign
officials or agents knew about the
alleged scheme.
In
economic espionage cases, the law does
not require proof of complicity by a
foreign government, and investigators
often do not know the extent of foreign
involvement.
Meng's
case marks only the third time in a
decade prosecutors have charged someone
with economic espionage to benefit a
foreign Government, the most serious
crime under the Economic Espionage Act of
1996. A conviction carries a maximum
penalty of 15 years in prison. (AGENCIES)
|
Democrat's
illness could cost control of US
Senate
WASHINGTON,
Dec 15: A
Democratic senator was recovering
from emergency brain surgery
after falling abruptly ill, as
the party's newly won control of
the US Senate hung in the
balance.
The fate of Senator
Tim Johnson, who reportedly was
in critical condition, could cost
the Democrats the one
vote-majority gained in
November's legislative elections.
Johnson, 59, was
admitted to George Washington
University Hospital on Wednesday
after his speech faltered during
a teleconference. He was
diagnosed with bleeding in the
brain from an inherited
malformation.
Early yesterday
Johnson underwent
"successful" emergency
brain surgery at the hospital,
Congress's attending physician,
John Eisold, said in a statement,
adding that it was
"premature" to give
"any long-term
prognosis."
Later Eisold said
Johnson was having an
"uncomplicated
post-operative course."
"He has been
appropriately responsive to both
word and touch. No further
surgical intervention has been
required," the physician
said.
In a statement
released later by Johnson's
office, the senator's wife,
Barbara Johnson, said her
husband, after the surgery was
responding to her voice,
following directions and had
reached for and held her hand.
US media reported
Johnson was in critical condition
in an intensive care unit, but
the hospital refused to comment
on Johnson's condition on grounds
of patient confidentiality. The
senator's office also refused to
comment. (AGENCIES)
Taiwan
President's wife on trial for
corruption
TAIPEI, Dec
15: The wife of
Taiwan's embattled president Chen
Shui-bian went on trial today on
corruption and forgery charges,
but proceedings were interrupted
when she fainted during a court
recess.
Wu Shu-chen, who
stands accused of illegally
claiming 14.8 million Taiwan
dollars (450,000 US) in personal
expenses from state funds, was
rushed to nearby National Taiwan
University Hospital after
collapsing.
It was unclear
whether the wheelchair-bound Wu,
54, would return to the Taipei
court later today.
Chen has promised to
resign if Wu is found guilty in
the landmark case, which marks
the first time the wife of a
Taiwanese leader has been
prosecuted.
The corruption
charge carries a minimum
seven-year prison term and
forgery at least one year.
Prosecutors indicted
Wu and three aides last month,
but Chen escaped immediate
prosecution because of
presidential immunity.
Chen has denied any
wrongdoing and said the
embezzlement allegations were
unacceptable.
Wu's indictment sent
political shockwaves throughout
the nation and prompted the
ruling Democratic Progressive
Party (DPP) to suspend her
membership for 18 months.
Chen's DPP filed a
petition yesterday with the
Council of Grand Justice in a
last-ditch bid to stop the trial
going ahead, but it usually takes
months for the body to make a
decision. (AGENCIES)
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Oil
prices steady in Asia after gains on OPEC
production cuts
SINGAPORE, Dec 15: Oil prices were
steady in Asian trade today after sharp
overnight gains on news the Organisation
of the Petroleum Exporting Countries
would cut output further to shore up the
market, dealers said.
At 10:15
am (0745 IST), New York's main contract,
light sweet crude for January delivery,
was up four cents to 62.55 US dollars a
barrel from New York trade where it had
risen 1.14 dollars to 62.51 dollars on
the OPEC lead.
Brent
North Sea crude for January delivery was
steady at 62.12 dollars.
OPEC's
decision to cut output by 500,000 barrels
per day (bpd) from February showed the
oil cartel's resolve to maintain crude
prices at 60 dollars and above, dealers
said.
"The
indication from OPEC is they are
determined to defend the 60-dollar price
level," said Victor Shum, an analyst
with energy consultancy Purvin and Gertz.
OPEC
ministers meeting in Nigeria yesterday
announced the latest round of production
cuts which follows a reduction of 1.2
million bpd from November onwards.
"The
market reacted bullishly to OPEC's
decision," said Phil Flynn at Alaron
Trading. "Some people doubted that
it would take the decision and OPEC
proved that it is very serious in keeping
prices in control."
Flynn said
that the decision to start the cuts in
February "eased some concerns about
cutting into the bulk of winter."
(AGENCIES)
|
PM
invites Japanese companies to invest in
India
TOKYO, Dec 15: Portraying India as
a profitable investment destination which
will require fund inflows to the tune of
USD 500 billion over the next five years,
Prime Minister Manmohan Singh today
invited Japanese companies to seize the
opportunity with an assurance that
"all legitimate concerns" of
investors are being addressed.
He asked
Japanese companies to regain their
country's "historic status" of
being the most important business partner
of India by participating in
public-private partnership and outlined
various measures undertaken by the
government to ease investments, like
creating provision for grant assistance
through a specially-created 'viability
gap funding'.
Addressing
Japanese business leaders here, he said
India was witnessing high economic growth
in which Japan should participate as the
economic relations between the two
countries presently fall short of
potential.
"An
economically-resurgent India offers a
variety of investment opportunities, both
in traditional and new sectors, in
labour-intensive and knowledge-based
industries," said Singh, who is here
on a four-day visit since Wednesday.
He said a
government estimate has projected that
India needs investment of at least USD
320 billion in the next five years in
infrastructure alone and the total
investment required would be closer to
USD 500 billion.
"This
requires public and private, domestic and
foreign participation in the
sector," he said, adding "we
happily welcome foreign investment and
seek to promote public-private
partnership". (PTI)
---------------------------------------------------------------------------------------------------------
Afghan
President launches scathing attack on
Pakistan
KABUL, Dec 15: Using sharp
language against Pakistan for fomenting
terrorism in his country, President Hamid
Karzai has made a no-holds barred attack
on Islamabad from blood-soaked Kandahar,
charging the southern neighbour with
seeking to "enslave"
Afghanistan.
He also
said Pakistan had destroyed
Afghanistans "national
institutions" in the period
following the Soviet withdrawal when
those who had cooperated in the fight
against the former USSR had turned away.
In a
90-minute speech at Kandahars Ahmad
Shah Baba high school Wednesday,
punctuated by frequent applause from
hundreds of listeners including a large
student body, the President warned
Pakistan that Afghanistan was no longer
weak.
It had an
elected government, he said and also
noted that Afghanistan now enjoyed firm
international support.
Kandahar
in southern Afghanistan, bordering
Pakistan, is the Presidents
hometown which he had not visited for
more than a year, setting tongues wagging
as it and neighbouring province of
Helmand are also the epicentres of
Taliban extremist violence rocking the
country.
In his
speech, Karzai recalled that a series of
suicide attacks had rocked the country
just before Pakistan foreign minister
Khurshid Kasuri visited Kabul last
Thursday. This, he said, was a coded
message that Afghans should
"surrender" to Pakistan, else
they will be killed and defeated.
Resorting
to nationalist rhetoric, he called on the
students to turn the pages of Afghan
history. He said Genghis Khan, Alexander,
British colonialists and former Soviet
Union had not succeeded in gaining
control of Afghan soil. "Who do the
Pakistanis fancy they are?" he said.
Karzai
alleged Pakistan was afraid of a peaceful
Afghanistan set on the road to
development. To no avail, he said, he had
repeatedly pleaded with the leadership in
Islamabad that destruction of Afghanistan
was in no way in Pakistans
interest.
Karzai
said that it is for the sake of peace
that he had given a call for a
"peace jirga" with
Pakistans participation and hoped
that the Government there would take
positive steps to make the proposed
convention a success.
Analysts
here see the the Karzai speech as a
national mobilisation effort.
As an
Afghanistan Times editorial
said, "Clearly, the President no
longer hides his anger behind friendly
words about Pakistan and calls upon it to
stop interfering in Afghanistans
affairs."
Significantly,
the (tribal or community)
"elders", who are deemed
important in social life here, of the
battle-torn provinces of Kandahar,
Helmand, Uruzgan and Zabul, called on
Karzai in Kandhar and lent him their
support for the "peace jirga"
plan.
Also in
Kandahar, a day before his angry
anti-Pakistan barrage at the school
grounds, the President met with NATO
commanders and asked them to devise ways
in coordination with the government to
eliminate civilian casualties. At a press
conference later, he took potshots at
Pakistan for fanning terrorism in
Afghanistan.
Two days
before that, in Kabul, Karzai made
references to the lives of children being
cut short by terrorist violence launched
by the "countrys
enemies". (PTI)
IL-14
aircraft used by 'Chairman' Mao to be
exhibited
BEIJING, Dec 14: Beijing will soon
exhibit an IL-14 aircraft, used by late
Chinese leader Mao Zedong, which was
gifted to him by former Soviet Union
leader Joseph Stalin in the 1950s.
The
aircraft used by Mao would be transported
from Zhengzhou, capital of central
China's Henan Province, to the new China
Civil Aviation Museum in Beijing before
the end of the month, Xinhua news agency
reported.
Technicians
were currently disassembling the
aircraft. The aircraft parts would be
transported to Beijing in different
batches. "The work is likely to take
several days," an official said.
The IL-14,
which was presented by Stalin to Mao in
1956, is 21.31 meters long, 31.7 meters
wide and 7.8 meters high. The 17-seat
aircraft can make a non-stop flight of
eight hours and 10 minutes.
A bed, a
sofa and a desk can be placed inside the
cabin.
The IL-14
aircraft family, developed by Soviet
Union, was put into use in 1954. China
bought 49 IL-14 aircraft starting from
1955 and all these aircraft mainly flew
on domestic air routes.
Mao's
IL-14 began serving at the Zhongyuan
Airline Company, which later merged into
the Henan branch of China Southern
Airlines, in 1985. The aircraft stopped
service in 1992.
Construction
of the Beijing-based China Civil Aviation
Museum began in 2004 and is expected to
go into full use in 2007. The museum has
begun collecting items on display.
The museum
is built to showcase the development of
China's aviation industry and
achievements China has made in this
sector. (PTI)
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