Over the past two decades, the United States and China have developed a special relationship based on the safety of U.S. debt.
Read the article: Why China Needs US Debt
Category: India
A senior Pakistani official has admitted for the first time that last year’s attacks in the Indian city of Mumbai were partly planned in Pakistan.
Read the article: Pakistan admits India attack link
No one knows how bad things have become, though it is clear that tens of thousands have left, real estate prices have crashed and scores of Dubai’s major construction projects have been suspended or canceled. But with the government unwilling to provide data, rumors are bound to flourish, damaging confidence and further undermining the economy.
Read the article: Laid-Off Foreigners Flee as Dubai Spirals Down
The admission by Satyam Computer Services Ltd.’s chairman that he concocted key financial results sent shockwaves across the information-technology sector, raising questions about how the scandal will affect the company’s customers and rivals.
B. Ramalinga Raju, founder and chairman of one of India’s largest IT companies, resigned Wednesday after admitting to falsifying company accounts and inflating revenue and profit figures over several years, sending the company’s shares tumbling and triggering a probe by India’s capital market regulator.
Read the article: The $1bn black hole at heart of company’s finances
Fresh diplomatic tensions are on the rise between India and Pakistan over the Mumbai massacre, as Islamabad remains unmoved by a dossier of evidence presented by India purporting to show involvement by Pakistanis in the raid. Pakistan this week did admit that its investigations have confirmed that the sole surviving gunman involved in the November attacks is a Pakistani citizen — a fact that the government had refused to acknowledge until now.
Read the article: Pakistan Continues to Resist India Pressure on Mumbai
US economic, military and political dominance is likely to decline over the next two decades, according to a new US intelligence report on global trends. The National Intelligence Council (NIC) predicts China, India and Russia will increasingly challenge US influence.
Read the article: US global dominance ‘set to wane’
Millions of people in Malaysia have been banned from doing yoga because of fears it could corrupt Muslims. The Islamic authorities have issued a ruling, known as a fatwa, instructing the country’s Muslims to avoid yoga because of its Hindu roots.
Read the article: Malaysia outlaws yoga for Muslims
Citgroup executives, faced with a plunging share price, began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright, the Wall Street Journal reported late Thursday, citing people familiar with the situation.
Read the article: Report: Citigroup weighs potential sale
While many of the world’s best business brains are exercising themselves over the current global banking and equities crisis, there is another issue which has the potential to dominate our lives far more in the longer term — energy.
Read the article: The future of energy – CNN.com
India is celebrating the arrival of its Chandrayaan 1 spacecraft at the Moon.
Read the article: Indian satellite orbiting Moon