EXTERNAL DEBT

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Thanks to rampant corruption and ill-conceived devaluation measures, the extant inequality has widened and external debt has ballooned. Though select producers gained from increased commodity exports, fertilizers imports have become dearer, affecting the rural economy.

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Source-IIPM-Editorial,2006

Idea rings a bell at Indian Rayon

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Indian Rayon and Industries Limited, an Aditya Birla Group company, has entered into a $150 million deal with US-based Cingular Wireless to acquire Idea Cellular’s 371.8 million equity shares, representing 16.45% of the company’s paid-up equity. Indian Rayon will now own a 20.74% stake in Idea Cellular, while Aditya Birla Group’s stake has increased to 50.15%. Cingular Wireless is the largest wireless service in the US and is an SBC Communications and BellSouth venture. Idea has already crossed the six million subscriber mark and is expected to touch seven million next year.

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Source:IIPM-Editorial,2006

Driving on the Detroit quicksand

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Miller must take tough decisions to stave off Delphi becoming bankruptWhen Detroit sneezes, the auto companies might catch a cold. But auto companies could well catch pneumonia and head for the intensive care unit this time. In July, 2005, the $30 billion Delphi Corporation saw a new CEO Robert Miller, taking over. In time, he issued a terse statement: “We will consider other strategic alternatives, including Chapter 11 re-organisation.” Chapter 11 is jargon for bankruptcy. Delphi is stretched to the limit, near to reaching the threshold of an allowed $1.8 billion credit limit.

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Source:IIPM Editorial:- 2006

TRADE WAR

Research and publication, IIPM-Knowledge Centre

As I recall, Chomsky explained how the vowel shift that had occurred in late medieval English was part of a transformation that resulted from a generational dynamic. The parent generation spoke using small innovations of their own, arrived at in a spontaneous and ad hoc fashion. Growing youngsters, because of their innate syntactical capacity, ordered the language they heard their parents using by means of a more inclusive grammatical structure, which itself made possible more systematic change.

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Source: IIPM Editorial-2006

The two countries reached a decision over the trade war in a meeting early this month, which is said to be balanced and in favour of both the parties. According to it, half of the seized goods will be released while the other half will be added to the importer’s 2006 textile limit. Bo Xilai, Minister of Commerce, China (People’s Daily) said, “considering the interests of EU importers and retailers, (we) decided to offer a helping hand to reduce the losses of both sides.” ...

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