Online jobs in Nepal

When we see local news paper and some national daily paper we usually see Earn $500 monthly, Earn $1000 monthly. Earn $ 1000+ from the reputed companies of USA. This is only the online job where we get free sign up from the Google adsense.
They take good amount of money from us to make sign up in the Adsense. Adsense gives us to promote the site. Nepali people are very poor in computer and have little knowledge on them. So, they go and give good amount of money to them and learn only how to sign up in the adsense. After some days their site gets terminated and they don't get money, some people don't got Pin code either.
News paper are the medium to provide with proper and factual news throughout the world. But In Nepal's context their are many advertisement of job opportunity, but it's not the real job it's only the name of job but it's nothing. When we go for counseling they say us that they will make us one site, which will be our own self. But it's not the site it's only the Blogger. People use blogger for their blog. Blog provides us information's. Usually Artist, Actor and actress use blog.
I want to suggest all the people to be aware of news paper advertisement which is given in the National Newspaper

KFC and Pizza hut in Nepal

World famous fast food KFC is now available in Nepal. People of Nepal are too much excited to know about the KFC for the first time. The prize is high in our country but it's The KFC. The product come from foreign country.
KFC is the most popular chicken restaurant all over the world. You can find same taste all over the world.
Pizza Hut is also popular in the world. This is also found in Nepal in Kathmandu. Prizes are given below.

KFC menu's in nepal (latest 2009/november/26)
Veggie Snacker (Burger) -RS. 69
Chicken Snacker(Burger)- RS 79
Hot wings (3 pc)- RS 119
Boneless chicken strips with Salsa - RS 149
Zinger Burger - RS 149
Veggie Feast Meal (Burger) - RS 209
Zinger Meal (Burger) - RS 259
Chicken Meal (3 pc) -RS 339
Chicken Large Bucket (12 pc) -RS 899
Hot Wings Large Bucket (40 pc) -RS 899

Pizz Hut Menu (latest 2009/november/26)

Meal type For single For 2 people For 4 people

Simply Veg
Tomato, onion and cheese. RS. 119 RS. 229 RS.369

Spicy Veggie
Tomato, crispy onions, green chillies and cheese. RS139 RS 259 RS. 409

Paneer El Rancho
Cajun spiced paneer, black olives, corn,
capsicum, onion and cheese. RS.179 Rs.319 Rs.499

Veggie Lovers
Mushroom, onions, tomato, capsicum and
cheese with black pepper sauce. RS.179 Rs.319 Rs.499

Veggie Supreme
Mushroom, capsicum, onion, baby
corn, tomato, olives & cheese Rs. 249 RS.379 Rs.579

Teeka Paneer Makhani
Paneer, capsicum, onion, red paprika
and cheese with tandoori sauce. RS.219 RS.379 Rs 579

Chicken Supreme
Chicken hot 'n' spicy, chicken tikka,
chunky chicken and cheese. RS 299 RS 429 RS 659

Chicken Hawaiian
Chunks of chicken, pineapple and cheese. RS. 219 RS.379 RS.579

Chicken Tandoori
Tandoori chicken, onion, tomato, green chillies
& cheese with tandoori sauce. Rs.249 RS.379 RS659


*The prices given are excluding taxes. service tax 10% and vat 13%=23% will occur in the above prices.
KFC and pizza hut of nepal.

Before Made in China Now Made in Egypt

There were many products which have been made in china. In our Nepal, We can found the products of china. As china is our neighboring country, we use goods of them.
But now Egypt goods are seen in our country. Goods have been imported from the Egypt country.
This is not for Nepal only this is seen around the world.
Good and cheap raw materials and favourable export to others countries are the conditions have given the company easy access to foreign markets. That's why goods are been exported to others country.

US trade marks would be resume by Taiwan

China to give Africa dollor10 billion in loans

SHARM EL-SHEIKH: Chinese Prime Minister Wen Jiabao pledged to give African countries 10 billion dollars in concessional loans as a two-day Forum on China-Africa Cooperation opened in Egypt on Sunday.

"We will help Africa build up its financing capabilities... we will provide 10 billion US dollars for Africa in concessional loans," Wen said at the start of the forum in the Red Sea resort of Sharm el-Sheikh.
He also pledged to cancel debts of African countries to increase his country's role in the continent.
The Asian giant pledged 5.0 billion dollars in assistance at the last Forum on China-Africa Cooperation summit, held in Beijing in 2006, and has signed agreements to relieve or cancel the debt of 31 African countries.
"China is ready to deepen practical cooperation in Africa," Wen said, adding that China was prepared to take on a role in "the settlement of issues of peace and security."
He also said China would set up environmental programmes in the continent, including 100 clean energy projects.
Chinese firms have been pouring investments into oil and other raw materials in Africa to fuel the Asian country's booming economy.
Over the past five years, Chinese direct investment in Africa has soared, from 491 million dollars in 2003 to 7.8 billion dollars in 2008, according to official Chinese figures.
Total trade between China and Africa surpassed 100 billion dollars in 2008, a tenfold increase in eight years.
Booming trade ties have been accompanied by China also building schools, hospitals and clinics to fight malaria and offering scholarships for Africans to study in China.
But Beijing's growing economic role in the poverty-ridden continent has also been met with some scepticism and criticism.
China has been accused of throwing a lifeline to pariah regimes accused of massive human rights violations, such as the government of Sudan's President Omar al-Beshir, who is wanted for war crimes by the International Criminal Court.
Chinese officials say they follow a policy of non-interference in the domestic affairs of African countries, and deny that Chinese investments and loans come with strings attached.
"Africa is fully capable of solving its own problems, in an African way," Wen said in his speech.
"China has never attached any political strings... to assistance to Africa," he said, adding that trade is based on "win-win programmes... and transparency."

ndia PM invites world to invest in economy

NEW DELHI: India’s premier rolled out the welcome mat for foreign investors Sunday, promising to step up economic reforms to draw global funds and put the country on a high growth path.

Prime Minster Manmohan Singh, speaking to a blue-chip international economic summit, said policy would be guided by the desire to create "an investor friendly environment."
India had attracted foreign direct investment of more than 120 billion dollars since 2001-02 but more was needed to develop its vast economy, he told a World Economic Forum meeting in New Delhi.
"You are all welcome in our efforts," he told 600 delegates from around the world, adding that the government wanted to push through reforms to make the country more attractive for investment.
"We need to strengthen our financial system in various ways to make sure it can provide what is needed for our development," he said, promising to open up insurance and other financial sectors more aggressively to generate funds.
Since winning a decisive re-election victory in May, the Congress-led government has been able to pursue reforms blocked in the last parliament by communist opposition.
He said the government was aiming for 6.5 percent growth in this fiscal year to March 2010 despite the worst monsoon in nearly four decades that has hit agriculture, and he forecast "over seven percent" expansion next year.
"I am happy India has been able to face the global economic downturn better than most other countries in the world," he said.
"Our medium term objective is to achieve eight to nine percent growth."
Singh said "clearly the worst is behind" the global economy but he added the path to sustained recovery "will be long and somewhat uncertain."
This meant India would have to rely heavily on domestic demand to power its growth, he said.
Overhauling the country?s dilapidated infrastructure -- roads, airports, ports and other services -- would be key to keeping the economy on the recovery trail, he said.
He added it was vital to ensure growth was "inclusive" and improved the lives of the estimated 40 percent of the nearly 1.2 billion Indians who still live in extreme poverty.

Coca-Cola 3rd-quarter profit risess slightly

ATLANTA: The Coca-Cola Co. said Tuesday its third-quarter profit rose less than 1 percent, as sales fell as consumers continued to limitsoft drink purchases and the stronger dollar took a toll on revenue.The world's biggest beverage maker says it earned $1.92 billion, or 81 cents per share, compared with $1.92 billion, or 81 cents per share, a year earlier.Results in the most recent quarter ended Oct. 2 included a 1-cent restructuring charge.Atlanta-based Coca-Cola Co., the world's largest soft-drink maker, says revenue slumped to $8.04 billion from $8.39 billion. Foreign currency exchange dragged down revenue by 6 percent.Analysts polled by Thomson Reuters, who usually exclude one-time items from their estimates, forecast profit of 81 cents per share on revenue of $8.11 billion.Shares of Coca-Cola fell $1.04 to $53.75 in premarket trading.In North America, case volume fell 4 percent.Many consumers are cutting back on soft drinks for health reasons and switching to juices and teas. Coca-Cola said unit case volume for soda fell 5 percent in North America in the quarter, while volume of still beverages, including teas and juices, was even.Sales rose in emerging markets including India, China and Brazil. Total international case volume rose 4 percent, which includes 37 percent growth in India and 15 percent in China.The company said that a U.S. dollar still strong relative to last year's third quarter hurt earnings per share during the quarter, because about 85 percent of Coca-Cola's profit comes from sales abroad. A strong dollar dampens foreign sales for U.S. companies, because overseas sales convert back to fewer U.S. dollars.

Female hedgies kick dust in their male counterparts’ faces

LONDON: Hedge funds run by women have fallen only half as much in the financial crisis as those managed by men. The value of female-managed funds has dropped by 9.6 per cent in the past year, compared with 19 per cent for the rest, according to Chicago-based Hedge Fund Research.Women investment managers have also performed better over the past decade, with an average annual return of more than 9 per cent, while hedge funds overall delivered 5.82 per cent. The findings were showcased in a research paper presented at the Women’s Forum for the Economy and Society in Deauville, France, at the weekend. They are supported by Hedge Fund Research’s diversity index, which tracks the performance of other minority groups along with women. Funds run by women accounted for roughly 50 per cent of the index, which returned an average of 8.21 per cent a year since 2003, compared with 5.98 per cent for the field as a whole.Despite women’s apparent prowess, in early 2008 they were running only 3 per cent of the $1.9 trillion then invested in hedge funds. Female hedgies, such as Leda Braga, at London-based BlueCrest Capital Management, are a tiny minority.The paper by the US National Council for Research on Women says they suffer “capital punishment”, finding it harder to raise the finance to start up fund management firms and experiencing more difficulty in attracting money from investors. The average size of funds run by women and minorities is $73.7 million, compared with $308.2 million among men.One female asset manager said: “With a man ... you might dismiss something as a bad day, with a woman it’s seen as a sign of instability. Somewhere, buried deep in the psychology, is the notion that people don’t trust us with their cash.” The NCRW argues a better mix of male and female investment styles would lead to greater market stability. Linda Basch, its president, called for a change in the chilly workplace culture for female investment professionals and said women needed to gain critical mass in the finance industry: “It is uncomfortable to be the only skirt in the room. This is a time when we need women, with their more tempered approach to risk, as well as men.” Jacki Zehner, a former partner at Goldman Sachs, who initiated the report, said: “Where women are present at decision-making tables, the quality of those decisions improves.” NCRW’s work supports the views put forward by investment banker Ros Altmann and Professor Charles Goodhart of the London School of Economics at the Treasury select committee on women in the City last week. They argued the financial crash was less likely to have happened if there had been more women in senior positions in the industry. Goodhart said their more cautious and long-term outlook could prove a more positive trait than the aggressive, risk-taking stance of men.

Qatar trims Barclays bank stake

QATAR: Qatar's sovereign wealth fund said Tuesday it had trimmed its stake in British bank Barclays to about seven percent, sending the group's share price sliding.Qatar Holding, a division of the Qatar Investment Authority, exercised warrants to buy 379.22 million ordinary shares at 197 pence from Barclays and sold them on the stock market.The transaction, which was carried out in morning London deals, leaves their shareholding at 7.13 percent, compared with 7.40 percent previously, according to a Barclays spokesman.The news sent Barclays' share price tumbling five percent to 362.95 pence in morning trade on the London stock market.Barclays had last year won a seven-billion-pound capital injection largely backed by Abu Dhabi and Qatar, as it sought to survive the credit crunch without government aid. But Abu Dhabi has since sold most of its holding.Qatar Holding chief executive Ahmad Al-Sayed said Tuesday's move did not affect Qatar's long-term strategy as Barclays' biggest shareholder."The decision to exercise the warrants and dispose of the resultant shares forms part of Qatar Holding's portfolio management program and does not impact on our current intention to remain a long term strategic shareholder in Barclays."The transaction will result in proceeds for Barclays of approximately 750 million pounds (822 million euros, 1.23 billion dollars)."Barclays chief executive John Varley meanwhile added that the move would broaden the group's shareholder base."We are happy to be working with Qatar Holding on a placing derived from the exercise of some 50 percent of its warrants," Varley said in a separate statement."The effect will be further to broaden the base of our share register. Qatar Holding is our largest shareholder and a key partner of the Barclays Group."The company's share price has soared in recent months because the bank successfully steered a path through the global financial crisis with the help of massive investment from oil-rich investors Abu Dhabi and Qatar.

Oil above $70 as global stocks gain

SINGAPORE: Oil prices floated above $70 a barrel Tuesday in Asia as a jump in global stock markets boosted investor confidence.

Benchmark crude for November delivery was up 19 cents at $70.60 by midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained 46 cents to settle at $70.41 Monday.

Oil has loitered near the $70 a barrel level for months as traders struggle to gauge how strongly the U.S. economy will recover.

Last week, poor jobs and manufacturing data undermined optimism, but on Monday the Institute for Supply Management said its service index showed that sector grew in September for the first time since August of last year.

Crude traders often look to stock markets for a sense of overall investor confidence. The Dow Jones industrial average rose 1.2 percent Monday, and most Asian indexes gained in early trading Tuesday.

A weakening dollar also helped oil prices. The euro rose to $1.4711 on Tuesday from $1.4647 the previous day, and the dollar slipped to 89.15 yen from 89.53.

In other Nymex trading, heating oil was steady at $1.79 a gallon. Gasoline for November delivery gained 0.52 cent to $1.76 a gallon. Natural gas for November delivery rose 1.4 cents to $5.00 per 1,000 cubic feet.

In London, Brent crude rose 15 cents to $68.19 on the ICE Futures exchange.

Australia first big economy to lift interest rates

SYDNEY: Australia on Tuesday became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, boldly declaring the risk of recession over.

The central bank announced a rise of 25 basis points to 3.25 percent, lifting rates off a 49-year low after an aggressive round of cuts credited with helping fight off the worst global downturn since the Great Depression.

"That basis for such a low interest rate setting has now passed, however," Reserve Bank of Australia (RBA) governor Glenn Stevens said in a statement.

"With growth likely to be close to trend over the year ahead, inflation close to target and the risk of serious economic contraction in Australia now having passed, the Board's view is that it is now prudent to begin gradually lessening the stimulus provided by monetary policy."

Australia is the only major Western nation to avoid a recession in the worldwide slump and posted growth of 0.6 percent in the three months to June -- the best in the developed world.

The RBA had slashed the rate from 7.25 percent last September to 3.0 percent in April, the lowest since 1960, while the government unveiled a massive 70 billion dollar (61.4 billion US) stimulus to keep the economy turning.

Treasurer Wayne Swan resisted calls to scale back the cash injection, despite loud protests from the opposition that it is no longer needed.

"To do so would rip the rug out from under the recovery and see more workers and more businesses hit the wall," Swan warned.

"It is the case that Australia's economy is out-performing other advanced economies," he added. "Many economists in particular will see today as a consequence of economic recovery."

However, some experts were stunned by the rate rise, saying they expected a more cautious approach during a fragile world recovery.

"It's come pretty quickly. It was a surprise as far as I was concerned," Nomura economist Stephen Roberts told Sky News.

"I was expecting them to wait a little bit longer. The reason they have given is that the danger of economic contraction has well and truly passed."

The Australian Chamber of Commerce and Industry (ACCI) said the RBA had acted "too hastily" and warned the move would dampen rising consumer and business confidence.

"We believe the Reserve Bank of Australia has actually pulled the interest rate trigger too quickly," ACCI economist Greg Evans told reporters.

"We believe on the back of continuing weakness in trading conditions and also a very uncertain outlook both domestically and internationally ... the Reserve Bank has acted too hastily," he said.

Alan Oster, chief economist at National Australia Bank, said the rise was unlikely to be followed by other big economies until they have posted at least two quarters of growth.

"The next move for rates in other countries will be up, but I think most of them will start from the middle of next year," he said. "Most economies are not going to do it before Christmas, let's put it that way."

The Australian dollar surged to 88.8 US cents as investors rushed to cash in on the higher rate. Gains on the Sydney share index were limited to 0.4 percent over worries that the rise would hit mortgage-holders in the pocket.

The RBA said Australia's economy had been boosted by the growth of China, a key market for shipments of commodities like iron ore, but warned that demand could soften as stimulus starts to run dry.

"Economic conditions in Australia have been stronger than expected and measures of confidence have recovered," Stevens said.

"Some spending has probably been brought forward by the various policy initiatives. As those effects diminish, these areas of demand may soften somewhat."

US shares rally on economic recovery confidence

NEW YORK: Wall Street shares climbed Tuesday amid confidence the global economy has emerged from recession underscored by Australia's decision to raise interest rates.

The blue chip Dow Jones Industrial Average lifted 102.93 points (1.07 percent) to 9,702.68, a day after jumping by more than 100 points.

The technology-heavy Nasdaq composite added 23.22 points (1.12 percent) to 2,091.37 while the Standard Poor's 500 index increased 12.61 points (1.21 percent) to 1,053.07.

The market opened on a bullish note after Australia on Tuesday became the first advanced economy to raise interest rates since the financial crisis.

Although the United States is unlikely to raise rates in the near future as it still undergoes the painful transition of emerging from recession, investors saw the move as a key indication of global recovery.

"It is clear that there is a psychological bid in the market as the symbolism of the first rate hike from a G20 nation is trumping any negative considerations that go hand-in-hand with higher rates," said Patrick O'Hare of Briefing.com.

"That symbolism shines through in the fact that most equity markets around the globe have gained at least 1.0 percent in the wake of the rate hike announcement," he said.

The rate hike is being interpreted as "another confirmation that the world is back from the brink of economic disaster," O'Hare said.

World Bank to help develop high-speed internet in Africa

GENEVA: The World Bank said Tuesday it would invest 215 million dollars (146 million euros) to help develop high-speed internet infrastructure in central Africa and make the service more accessible to people in the region.

"This programme will support the countries of the Central African region in developing their high-speed telecommunications backbone infrastructure to increase the availability of high-speed internet and reduce end-user prices," it said in a statement.

People living in Central Africa pay up to twice as much in monthly internet fees than elsewhere in Africa, while compared to the rest of the world, they pay up to three times as much.

"Until now, people in Central Africa have the lowest quality and highest cost internet and telephone services in Africa," said the World Bank.

Cameroon, Chad and Central African Republic will join in the first phase of the 10-year-long programme, which will also help these countries to harmonise their laws regulating the internet and communications sector.

A further eight countries -- Republic of Congo, Equatorial Guinea, the Democratic Republic of Congo, Gabon, Niger, Nigeria, Sao Tome and Principe, and Sudan -- have also met the criteria to participate, added the World Bank

EU says investigators raid pharma giants

BRUSSELS: Investigators carried out raids on European pharmaceutical giants on Tuesday over suspected competition violations, the European Commission said in a statement.

Brussels "can confirm that on October 6 commission officials started surprise inspections at the premises of certain companies active in the pharmaceutical industry," the statement said.

France's Sanofi-Aventis was one of those raided, a company spokesman told AFP. "Sanofi is going to cooperate with the commission," he added.

Belgium's UCB and Solvay, Britain's AstraZeneca, France's Servier and Germany's Bayer and Merck each said they were not targeted.

Officials accompanied by national inspectors were seeking evidence of "restrictive business practices and/or the abuse of a dominant market position," the commission, which polices competition in the EU, added.

Regulators stepped up a sector-wide probe launched in January 2008 with an investigation announced in July into the relationship between companies that patent their products as brand-named medicine, as well as their ties with generic drug producers.

Then, the commission said that "unilateral behaviour" by French pharmaceutical maker Les Laboratoires Servier might have hindered the entry into EU markets of generic perindopril, a cardio-vascular medicine first developed by the company.

The commission did not detail the companies or countries involved, and stressed that such steps follow no fixed deadlines.

WTO head pushes G20 for trade deal

GENEVA:The World Trade Organization will urge the G20 key economies meeting this week to make good on pledges to conclude a pact on global commerce by 2010, its director general said Tuesday."I will tell them that we in Geneva have done what they asked of us. They now have the road mapped out, but they still have to walk it," WTO chief Pascal Lamy told representatives of the trade body's 153-member states.Lamy will attend a summit of the Group of 20 (G20) developed and developing countries to be held in Pittsburgh on Thursday.In July, the Group of Eight rich nations and emerging economic powers had said that they wanted the long-stalled Doha Round of talks for a world trade liberalisation pact to wrap up next year.Trade ministers from key trading nations have also called on chief negotiators to map out a work calender for the next three months in order to meet the 2010 deadline.Lamy pointed out although this calender had been drawn up, "a work programme by itself... will not deliver a substantive result.""At this stage, I remain cautious in my forecast. It would be premature for me to predict today that the necessary political engagement will in fact take place over the next three months," he said.The WTO-led Doha Round was launched in the Qatari capital in 2001 with the aim of boosting global commerce to help developing countries, but deadlock between the major trading blocs has dashed repeated attempts to forge a pact.

Indian market welcomes German auto groups

FRANKFURT: India, home of the world's cheapest car, urged German auto and parts makers Tuesday to pitch their world-renowned wares to one of the toughest markets on earth.Managers of brands such as Audi, BMW and Bosch were warned however that the fast-growing class of young Indian consumers and partners were tough customers that wanted the best for a good price.With an average age of around 25, Indian consumers are more and more educated, wealthier, demanding and "not loyal," said Wilfried Aulbur, vice-president of the Indo-German chamber of commerce."It's a pretty difficult animal to handle," he concluded during a seminar on ways out of the automotive crisis at the Frankfurt motor show.Aulbur, also managing director and chief executive of Mercedes-Benz India, said Indians had the "confidence to compete on a global scale" and told German business leaders to expect "very interesting discussions" on price and value.India produces the world's cheapest car, the 2,055-dollar (1,400-euro) Tata Nano, and the country is now the 11th largest auto producer worldwide, said India's ambassador to Germany, Sudhir Vyas.All major auto manufacturers have a presence in the country of nearly 1.2 billion people and car sales jumped by nearly a third in July, the sixth monthly rise running, owing in part to a cut in excise duties on automobiles.Suzuki of Japan plans to build a new Indian plant in 2011 and Volkswagen opened one in late March while estimating the market at more than two million vehicles by 2014.German and Indian cooperation has grown steadily since Mercedes and Tata first teamed up around 40 years ago, and the Nano is laden with parts from 12 German suppliers, seminar moderator Bernhard Steinruecke noted.The Nano "is a car of Indian vision and German technology," he said, adding that without the German companies' research and development, "this car would not be possible."Meanwhile, the Indian manufacturer Reva showed an electric car at the Frankfurt show that it plans to launch in 12 European countries next year.The four-seater NXR has a range of 160 kilometers (100 miles), solar panels in the roof and can be recharged from an electric grid in eight hours.It is expected to cost between 12,200-14,000 euros (18,000-20,700 dollars).Ambuj Sharma, a secretary from India's Department of Heavy Industry, urged the German automotive sector "to join hands with India," which he said was now the auto components centre of Asia. The region is home to two of the world's fastest growing markets.He invited small- and medium-sized enterprises "who are the strength of the German automotive industry to be a part of this growth story."German suppliers were hammered by a global plunge in auto sales that followed the collapse of US investment bank Lehman Brothers one year ago.Sharma said India was now "among the world's most attractive sources for not just the low-cost components but for high-value engineered parts and design."And Ambassador Vyas attached "particular importance" to "capacity building and vocational training for the auto industry" from foreign investors.He said Delhi had set a 2016 goal "to emerge as the destination of choice in the world for design and manufacture of automobiles and auto components," but acknowledged that was before the global collapse.A recovery was underway, the Indian speakers emphasised, though Aulbur warned that "you have to be in it (the Indian market) for the long haul."He also told German managers: "No 'one size fits all' for your customers and your business partners" on a sub-continent equal in size to the 27-member European Union.

BoE chief tipped for new European job

LONDON: The head of the Bank of England is the leading contender to become the deputy chief of a new European-wide board to track the stability of financial institutions, a report said Wednesday.Mervyn King would become number two at the new body to be chaired by European Central Bank president Jean-Claude Trichet, the Financial Times said."There is an appreciation (in Brussels) of the fact that Britain is a large financial centre and its consideration might be above that of some other countries," a source was quoted saying.The board, made up of governors of the 27 national central banks and representatives of the European Commission, will also coordinate risk supervision by national bank regulators.The European Commission will Wednesday unveil draft legislation on its proposed revamp on the European Union's system of financial supervision.All the positions on the new systemic risk board would not require any changes at the helm of central banks, according to the FT.

At summit, Asian leaders to press for greater role

WASHINGTON: Asian leaders at this week's economic summit will demand a greater voice in the way global financial institutions make crucial decisions. Likewise, the world's established powers will have some demands of their own.The Western countries who traditionally have wielded power at the World Bank, the International Monetary Fund and the United Nations will want Asia to cut greenhouse gases blamed for dangerous climate change and to slash barriers that prevent free trade.China, with its powerful economy and diplomatic and military strength, will be a leading player at the summit. The other Asian-Pacific G-20 nations — Japan, India, South Korea, Australia and Indonesia — believe their growing importance deserves a bigger say in the world's financial decision-making. The G-20, which represents 80 percent of the world's economic output, is where they will make their case."Broadly, they're looking for more input on how the world runs," said Brad Glosserman, executive director of the Pacific Forum CSIS think tank.It remains to be seen how successful Asian countries will be at getting their points across at a gathering that features 20 leading rich and developing nations, all with competing national interests and often with little in common.Asia has done well, comparatively, during the world economic crisis. But the region has been criticized for protecting its trade and agricultural industries from competition. At the Pittsburgh conference on Thursday and Friday, the West will want Asia to help jump-start stalled world trade liberalization talks, to increase imports and to reduce large trade surpluses.Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, said major questions will be: "`What are you doing to stimulate your economy?' — and some of them are doing quite a bit — and `What more can you do?'"Asia will also face questions over climate change. Many argue that if Asia does not make cuts to emissions, progress will stall. Pittsburgh marks one of the last chances world leaders will have to generate momentum before a U.N. conference in December in Copenhagen, Denmark. Countries hope to forge a new agreement to replace the 1997 Kyoto Protocol, which expires in 2012.Already some leaders worry that disputes among industrialized and developing nations over cuts to emissions threaten to ruin a deal in Copenhagen. Asia is seen as the key to any progress.Japan also could make a splash on climate change. The Democratic Party of Japan, which won last month's national elections, has made bold promises to reduce the country's greenhouse emissions. The new government will be closely watched to see if it is more assertive than previous administrations, which tended to echo U.S. views.Fast-developing India is seen as key not only in the climate discussions but in world trade talks as well.India, along with Brazil, Russia and China, is hoping Pittsburgh will lead to an agreement on proposed new targets to shift voting power in both the IMF and the World Bank to developing countries.In Australia, Prime Minister Kevin Rudd will seek international support for his plan to spend his country deep into debt to keep its economy buoyant. He has pointed to worsening unemployment data and declining retail spending in recent months as evidence that government spending remains critical to future growth.In Indonesia, President Susilo Bambang Yudhoyono, will be eager to show that newfound stability in the predominantly Muslim nation of 235 million will continue.South Korea plans to urge advanced nations to extend greater help to poorer countries in their efforts to overcome the economic crisis.Han Duk-soo, South Korea's ambassador to the United States, said Thursday that his country wants to host a G-20 summit next year. South Korea, he said in Washington, can bridge the divide between rich and poor countries, having gone, in a matter of decades, from a country devastated by war to one with a vibrant, thriving economy.Steven Schrage, a former U.S. trade official now with the Center for Strategic and International Studies think tank, said it would be "a devastating blow to the credibility" of the G-20 if South Korea did not host a summit and "the outcome is that the old boys' club of the G-8 are the only ones that can host summits."

Protesters hope to highlight issues at G-20 summit

PITTSBURGH: An anti-war group plans to set up a tent city during the Group of Twenty economic summit this week to focus attention on the plight of women and children made refugees by war.The group, Code Pink, will be among many groups and thousands of activists aiming to use the G-20 summit to spotlight causes including the environment and social injustice.History shows protesters can successfully use media-saturated events to push their causes, such as when demonstrators at the 1988 Olympics in Seoul were credited with forcing South Korea's shift to democracy, said Mauro Guillen, a globalization expert at the University of Pennsylvania's Wharton School of Business."They just want to attract the attention away from the official agenda and put other things on the agenda," Guillen said.Protests can also turn violent. In 1999, 50,000 protesters shut down World Trade Organization sessions in Seattle as police fired tear gas and rubber bullets. There were some 600 arrests and $3 million in property damage. At the most recent G-20 meeting, held in London in April, thousands of people protested, and one man died after a confrontation with police.Domenico Lombardi, who sits on the advisory board of the G-20 research group that provides materials to the G-20 participants — 19 world leaders and representatives of the European Union who control more than 85 percent of the world's money — said the summit is a good target for protesters.One of the most prominent issues raised by protesters involves globalization, a term that encompasses everything from technologies to economic policies that have made the world "borderless and interdependent," Guillen explains.Protesters say the ill effects of globalization can be seen in developing countries disproportionately affected by fluctuating commodity prices or communities left dangling when industries move to other places, Guillen said."It's useful to think about winners and losers, and as a society, it's important to remember the losers," he said. "What do you do about the people who are being left behind?"Fathali Moghaddam, a Georgetown University psychology professor whose book "The New Global Insecurity" comes out in January, said all issues are linked to globalization. For example, Moghaddam calls the environmental protesters "green fundamentalists" who believe "that globalization is ruining the environment, ruining local economies, ruining local cultures and that corporate values are being put above everything else and corporate values are global.""The enemy they see out there are these political leaders who they believe represent either corporate interest or imperial interest or some interest that is helping globalization," Moghaddam said.None of the summit members represents a poor country, "and the issues that really affect large areas of the world are not being tackled," added Lombardi, also a senior fellow at the Brookings Institution's Global Economy and Development Program."Now that they are faced with the pleasant prospect of rebound of the global economy ... they can focus on broader issues, such as climate change, sustainable growth, food security, issues of interest to the world at-large," Lombardi said.The more organized and established protest groups have scheduled events for the week. One of the larger events, The People's March, is being organized for Friday by the Thomas Merton Center, a Pittsburgh activist group that cites peace and social justice as its objectives."I think part of this is public education and public involvement, getting the word out on the many issues that exist," spokeswoman Melissa Minnich said. "The G-20 isn't simple enough that you can sum it up in one issue."Pete Shell, of the group's anti-war committee, said instead of funding wars, the U.S. ought to be investing in jobs, housing issues and alternative energy.On Wednesday, several thousand people are expected downtown for a festival and rally for clean energy jobs at the city's Point State Park. The event is organized by state Sen. Jim Ferlo, D-Allegheny, and involves the United Steelworkers union and the Alliance for Climate Protection, founded by former Vice President Al Gore.Code Pink's Pittsburgh director, Francine Porter, said she hopes her group's tent city in Point State Park from Sunday night to Tuesday night will be a reflection of the suffering of refugees.Porter, a critical care nurse and mother of two who lives in the suburbs, said she became an activist after the terror attacks of Sept. 11, 2001. She had begun to question the world around her and wondered why others would cause America harm and why the U.S. declared war on Iraq.Her husband is a staunch Republican who she said doesn't agree with her activism, which she says has taken time away from her daughters, ages 12 and 16. The other night, she spent 2 1/2 hours on the phone with an attorney preparing for a federal court case on whether Code Pink could use the park. The group won."For a really long time, I wasn't conscious and I wasn't active," she said. "But there's no going back. I can't imagine my life any other way."

Taiwan share prices close up 1.23 percent

TAIPEI: Taiwan share prices closed 1.23 percent higher Tuesday led by big caps in the electronics sector, dealers said.

The weighted index rose 89.31 points to 7,346.26 on turnover of 97.45 billion Taiwan dollars (2.99 billion US dollars).

Gainers outnumbered losers 1,458 to 801, while 253 stocks were unchanged.

A total of 52 shares surged to their daily 7.0 percent limit, against 10 that were limit-down.

"Trading was very quiet in the first two hours. The market was boosted after buying in the big caps like Hon Hai Precision Industry and MediaTek," said Allen Lin of Concord Securities.

Financials rebounded on reports that Taiwan plans to sign an agreement with China in October that will allow some of the mainland's huge pool of liquidity to start flowing into the island's stockmarket, local newspapers said.

Once it is signed, Chinese institutional investors will be allowed to buy shares on the Taiwan Stock Exchange, which has so far been closed to mainland money, the papers said.

Fubon Financial closed up 1.75 percent at 34.9 and Cathay Financial was 0.95 percent firmer at 52.9 as the sector rose 1.01 percent.

Hon Hai rose 2.45 percent to 125.5 and MediaTek edged up 0.8 percent to 506.

Electronics rose 1.41 percent, plastics 0.98 percent and cement 0.55 percent. The food sector fell 0.12 percent.

Taiwan Semiconductor Manufacturing Co finished 1.63 percent higher at 62.5 while United Microelectronics Corp was up 0.32 percent at 15.5.

Australia announces shock Telstra break-up

SYDNEY: Australia on Tuesday announced shock plans to split up telecoms giant Telstra in a bid to break its market stranglehold before spending 37 billion US dollars on a national broadband network.
Communications Minister Stephen Conroy said Telstra, part-owned by the government and subject to strict regulation, would be barred from acquiring new wireless spectrum unless it voluntarily split its retail and network arms.
"The government will require the functional separation of Telstra, unless it decides to voluntarily structurally separate," he said.
Conroy said successive governments had let the former state-owned monopoly keep too much power, even after competitors were allowed into the market in the 1990s.
"After 10-15 years of competition, we've still got 90 percent of profits in the sector made by one company," he told Sky News, describing the situation as "market failure."
Under draft regulatory reforms introduced to parliament Tuesday, Telstra will not have access to further wireless spectrum unless it restructures and sells off its cable infrastructure network and stake in Foxtel pay TV.
But it may be allowed to keep the assets if it comes up with an alternative structural change acceptable to the government and competition regulators.
Conroy said Telstra could not be allowed to retain its market dominance when Australia moves into a new communications era with a 43 billion Australian dollar (37 billion US) high-speed Internet network spanning the vast country.
"At the moment they have copper (fixed line), they have mobile and they have Foxtel -- they're in every platform and they want to move into the new one," he said.
"We're saying we need to find a way to create more competition so Australians as a whole are better off," he added, saying customers were "screaming out" for fast, affordable broadband.
Telstra said it was disappointed at the move but still wanted to work with the government on the broadband network.
"While we are disappointed the government has felt it necessary to introduce this legislation, Telstra remains committed to working with the government to find a solution that is in the best interests of the industry, the nation, Telstra and our shareholders," chief executive David Thodey said.
Investors reacted by dumping Telstra's shares, whose price slumped 4.31 percent to 3.11 dollars at the stock exchange close.
Conroy said the reform, which will help end the historic advantage Telstra has enjoyed over rivals such as Singapore-owned Optus, was long overdue.
"For years industry has been calling for fundamental and historic micro-economic reform in telecommunications," Conroy said. "Today we are delivering this outcome in Australia's long-term national interest."
Conroy said he was expecting "hard-nosed negotiations" with Telstra, which has had a tumultuous relationship with the government since going mostly private in 2006.
Chief executive Thodey has been working to improve relations with Canberra since taking over in May from his controversial predecessor Sol Trujillo, who cut 10,000 jobs and oversaw a fall in the share price.
Analysts said the government, which retains a 12-percent shareholding in Telstra, had left the company with little choice but to restructure.
"It's so-called voluntary separation, but it's volunteering with a gun to the head," BBY analyst Mark McDonnell told Dow Jones Newswires.

Japan Airlines to cut 6,800 jobs

TOKYO: Japan Airlines is to cut 6,800 jobs and pursue a tie-up with a foreign carrier in an effort to return to profit, its president Haruka Nishimatsu said on Tuesday.
"We are talking about a personnel cut of 6,800," he told reporters. "It's a significant figure. The personnel reduction cannot wait."
JAL, which lost more than one billion dollars in the April-June quarter, has already slashed thousands of jobs in recent years.
Nishimatsu said JAL aimed to seal a tie-up with an overseas carrier by mid-October. According to local media, Delta Air Lines and American Airlines' parent company are both interested in taking stakes in the Japanese group.

Dollar boosted by weak equities, China-US trade row

LONDON: The dollar won support on Monday from falling equity markets and concerns about an escalating trade dispute between China and the United States, dealers said.
In late morning trade here, the European single currency fell to 1.4536 dollars from 1.4573 dollars in New York late on Friday.
Against the Japanese currency, the dollar rose to 90.73 yen from 90.64 yen on Friday.
In earlier Asian trade, however, the greenback had hit a seven-month low of 90.19 yen, as a pre-weekend pullback on Wall Street and lower US bond yields prompted investors to put their money elsewhere.
But falling global stock markets and the China-US trade row have since lifted the safe-haven US currency somewhat.
"Euro/dollar is starting the week slightly weaker," said Commerzbank analyst Antje Praefcke.
"Notably, weaker stock markets in Asia have allowed the dollar to appreciate this morning. This development is supported by tensions between China and the United States."
Europe's main stock markets retreated on Monday, mirroring pre-weekend losses on Wall Street and earlier in Asia, as investors took profits from recent gains.
China on Sunday hit out at US tariffs on its tyre exports and said it would investigate possible unfair practices in US exports of car parts and chicken meat, in a growing row between the two giants.

China has already warned that it was likely to retaliate against the US tyre tariffs, adding that the US move amounted to a "grave" form of protectionism.
"Following the imposition of import duties on tires from China to the US, Beijing last night announced an investigation into poultry imports from the US in connection with a suspicion of price dumping," added Praefcke.
"Should these tensions escalate, they threaten to disturb world trade, which would affect the economic recovery."
The euro was meanwhile dampened on Monday by a raft of downbeat economic news.
Industrial production in the eurozone fell by 0.3 percent in July and by 15.9 percent over 12 months, the EU's Eurostat data agency said.
The figures, which were adjusted for seasonal variations marked a slight slowdown from June when industrial production decreased by 0.2 percent, showing that in some areas of Europe's economy the green shoots of recovery have yet to take root.
The European Commission forecast that the European Union economy will shrink by 4.0 percent in 2009 -- but would climb out of recession in the third quarter.
But the recovery from recession will be weighed down by rising unemployment and strained government finances, it cautioned.
In London on Monday, the euro was changing hands at 1.4536 dollars against 1.4573 dollars late on Friday, at 131.95 yen (132.12), 0.8788 pounds (0.8740) and 1.5128 Swiss francs (1.5123).
The dollar stood at 90.73 yen (90.64) and 1.0402 Swiss francs (1.0376).
The pound was at 1.6548 dollars (1.6671).
On the London Bullion Market, the price of gold fell to 995.17 dollars an ounce from 1,008.25 dollars an ounce late on Friday.