Business & Economy

Weak dollar threat to world economic stability, says UN 

What is India News Service, Wednesday, 26 January 2005, 2100 hrs IST

The world economy grew by four per cent last year, but a rapidly falling US dollar poses a danger to economic stability worldwide, the United Nations has said.

The UN department of Economic and Social Affairs (DESA) in a report on Tuesday said cyclical economic recovery reached a peak in 2004, especially for developing countries, and "the possibility of an abrupt and globally damaging correction persists, since the depreciation of the dollar alone seems unlikely to be sufficient to reduce the global imbalances to sustainable levels in an orderly fashion."

"The global imbalance is between consumption and debt in the United States and ballooning surpluses in many US trading partners. Currency changes by themselves, especially bilateral currency manipulation, will not resolve the problem," it adds.

SEBI caps creeping acquisition limit: The Securities and Exchange Board of India today said it would ensure that all listed companies have a minimum 25 per cent public holding within the next few years as was promised to Parliament. 

Trio take on Asian rivals: Three vehicles that promise to account for thousands of sales for their respective makers were introduced at the recent Los Angeles 

MUL raises M-800 prices, launches Euro versions: Maruti Udyog today rolled out a Euro-III variant and a new Euro-II version of Maruti 800, sporting a higher price tag, setting at rest the speculation about the phasing out of the entry level car. 

Cibil’s database touches 14 million: Here's another reason for you to pay back that monthly instalment or credit card bill on time. The Credit Information Bureau India Ltd, the first database of the country’s borrowers, now has a database of 14 million borrowers with it.

Govt delays Mul, Bhel sell-off till ’06: The government said on Tuesday it will partially offload stakes in the country’s larghest car maker Maruti Udyog Ltd and bluechip electronics firm Bharat Heavy Electricals Ltd.

Natural gas price not to be hiked yet: The group of Ministers meeting on raising natural gas price for fertiliser and power units and setting up a regulator for the oil sector remained inconclusive. 

More Indians joining global rich list:  The Indian per capita GDP which is now around $650 per annum, will grow to about 11 per cent per annum to nearly $1,200 by the end of the decade — bringing more Indians to the rich club, forecasts a J.P. Morgan study.

'Govt clear in its stand on Rel Info': The Government said on Tuesday it was very clear in its stand imposing a penalty of Rs 150 crore on Reliance Infocomm for violating the licensing conditions by diverting international calls as local calls. 




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