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Vol. 3 ::
No. 2 January, 2001 (Poush-Magh) |
World Brief
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World Brief |
The Government of India is all set to sell its 50 percent stake in Maruti Udyog Ltd. The biggest car-maker in the country, Maruti is estimated to control some 55 percent of the Indian market. And so presents itself as a very attractive buy, analysts view.
However, the analysts also view that the government's plan is difficult to implement because of its constant ‘disagreements' with Japan's Suzuki Motor Corp – the other 50 percent stake-holder in Maruti.
It is learnt that according to an agreement between the two partners, Suzuki has the first right of refusal in the event of any government sell-off and the Japanese firm's approval of any other purchaser is binding on the government. Nonetheless, the Indian government is learnt to have disapproved Suzuki's choice General Motors of USA – which owns 20 percent hold in Suzuki – sighting that the move could lead to complications since General Motors plans to launch the ‘Asian car’ very soon in the future.
Rumours also have it that the Indian government wants to go in for international bidding since the option is the best way to maximise revenue.
Bangladesh's economic growth reached 6.03 percent in the year to June, 2000, according to government sources.
The GDP growth rate of 5.5 percent estimated by the central bank earlier is said to be the highest in 25 years.
According to Finance Minister Shah Kibria, the agriculture sector was the highest contributor in achieving the growth.
The economy grew 4.9 percent in the year to June 1999.
The world's biggest player in mobile phone business, Britain's Vodafone made the second largest deal ever in Japanese history by announcing purchase of a 15 percent stake in Japan Telecom for a whopping US$ 2.2 billion (249 billion Yen).
Vodafone, which already owned a stake in Japan Telecom's mobile group J-Phone, is now an equal shareholder in the Japanese telecommunication operator alongside American Telephone & Telegraph Co. and its domestic rival, British Telecommunications PLC.
Vodafone bought the stake from West Japan Railway Co. (8.6 percent) and Central Japan Railway Co. (6.4 percent).
After entering the Japanese market, the British firm announced that it intended to take on local mobile heavyweight NTT DoCoMo Inc. which enjoys some 58 percent control of the market.
The deal is expected to give Japan Telecom new access to global technology, content and expertise that will increase its ability to provide customers with quality and innovation, and also strengthen its competitive position in Japan.
The present deal is second only to French car-maker Renault SA's controlling stake purchase of Nissan Motors for 600 billion Yen.
China is moving ahead with its plans of building its own information superhighway, according to government owned Xinhua News Agency.
The second generation Internet – like network will better suit the needs of China's government and industry, said the news agency in a report. It added that the new system, to be called C-Net, will be safer, faster and handle greater volumes of information than the existing Internet.
According to the report, several companies have signed agreements to form the C-Net Strategic Alliance that will develop the new network.
The battle between Airbus Industries and Boeing Co. for dominance in the skies entered a new level as Airbus launched the 555-seater A380 with claims of it being the biggest plane ever, surpassing Boeing's 747.
On the launching of the superjumbo–a double-decker aircraft that will be equipped
with gyms, casinos and
lounges–officials of Airbus confidently said that the airplane maker will hold top
position in the skies for years to come.
So far, it is known that Airbus has received 50 firm orders and 42 options for the new plane, thus presenting a direct challenge to Boeing's dominance of the long-haul, high-capacity market with its fleet of 747s.
The biggest order (12 planes) for the A380 has come from Australia's Qantas Airlines Ltd.
Other firm orders are accounted for by Singapore Airlines, Air France, Emirates Airlines and the International Lease Finance Corp. Germany's Lufthansa AG and British Airways are said to be in talks about buying the plane.
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