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International Business News
Airbus to set up joint venture in China
ANN/ China Daily
European plane maker Airbus expects to launch a joint venture in China to make aircraft components, as part of its efforts to carve a larger slice of die world's fastest growing aircraft market.
"We are studying the possibility of setting up the venture with AVIC II (China Aviation Industry Corporation II) and expect to finalise the deal as early as August," Laurence Barron, president of Airbus China, said, but declined to elaborate.
Airbus expects to use the joint venture to produce composite material parts for its Airbus A350 model. The company last year agreed to have up to 5 per cent of the design and manufacturing work of die model done in China.
AVIC II, one of its partners in the nation, will also join in the program dirough their existing joint venture.
Inflation jumps in India amid expectation of more tightening
&FP, New Delhi
India's inflation jumped again to a more than three-year high, according to data on Friday, days ahead of a key meeting of central bankers who are expected to tighten monetary policy further.
Annual inflation accelerated nearly two-tenths of a percentage point to 7.33 percent for the week ended April 12, driven partly by higher food costs.
High inflation has become a central political issue in India with taming prices the key goal of the Congress-led government, which faces general elections within a year and a clutch of state polls in between.
India's hundreds of millions of poor, whose support is vital at voting time, have been hit hardest by the inflation surge.
Microsoft deadline looms
for Yahoo
AFP, San Francisco
Microsoft’s unwanted courtship ofYahoo hits-a critical point Saturday as a deadline arrives for the struggling Internet pioneer to accept the software giant's 44.6 billion dollar takeover offer.
Microsoft and Yahoo have dueled through public comments, letters and blog postings since Microsoft announced what it touts as a fair bid forYahoo on February 1.
Yahoo's board of directors rejected Microsoft's 31 dollars a share offer, saying it "substantially undervalues" the California firm; they insisted their company rs worth at least 40 dollars a share.
Microsoft is eager to merge resources with Yahoo to take on Google, which dominates an Internet search advertising market expected to grow to 80 billion dollars annually worldwide in the next two years.
India adds 10 mln cell phone subscribers in one month
AFP, New Delhi
India added a record 10 million mobile phone subscribers in March to overtake the US and become the world's second biggest cellphone market after China, the telecoms regulator said Friday.
The latest figures brought the number of wireless subscribers in March to 261.09 million, the Telecom Regulatory Authority of India said in a statement.
India's mobile market is the world's fastest growing. India crossed the 100-million cellular subscriber mark in May 2006 and the 200 million mark in September 2007. •
"India has become the second largest wireless network in the world after China by overtaking USA, as per (official) data available," the regulator said.
A total 10.16 million subscribers were added in March, up from 8.53 million the previous month, the regulator said.
EU still eyes WTO ministerial meeting by end-May
AFP, Geneva
The European Union said on Friday it still hoped ministers would meet at the WTO at the end of May to end years of trade liberalisation talks despite scepticism within its own ranks.
"There is a clear understanding that if we want to conclude talks by the end of the year, then we need to have a ministerial meeting by the end of May," the EU's ambassador to the World Trade Organisation Eckhart Guth told AFP.
"We are still working on this assumption, though nothing is guaranteed, nothing is set in stone," he said.
The WTO's Doha round of talks to reduce trade barriers was launched in the Qatari capital in November 2001 with the aim of reaching a deal by 2004, but has foundered ever since, principally in disputes between developed and developing countries on agricultural subsidies and industrial tariffs.