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COPYRIGHT 2006 Asia Pulse Pty Ltd
An executive briefing on the economies of Asia for March 29, 2006, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia based wire with exclusive news, commercial intelligence and business opportunities.
ECONOMISTS ASK INDIAN GOVT TO DROP RUPEE FULL FLOAT PLANS
NEW DELHI - Renowned Indian economists, including former ministers and a RBI deputy governor, have asked the government to desist from moving towards full convertibility of rupee saying it was fraught with "dangerous" consequences.
"We urge the UPA government from such an unnecessary and dangerous measure... This (full float of rupee) would expose Indian economy to extreme volatility," the economists numbering about 160 from various institutions across the country said in a statement.
STRAW TILTS BRITISH FOREIGN POLICY TOWARDS INDIA AND CHINA
LONDON - Setting out a new direction for British foreign policy, Foreign Secretary Jack Straw on Tuesday shifted the balance towards the growing economies of India and China.
Speaking at a "leadership conference" attended by 200 British ambassadors, high commissioners, governors and other Foreign Office staff brought back from their posts worldwide, Straw referred to the impact of globalisation, particularly in India and China and the benefits Britain could accrue from it.
RISING WON TO HARM PROFITABILITY OF S. KOREAN BUSINESSES
SEOUL - South Korea's corporate profitability is likely to worsen in the second quarter due to the local currency's rise against the U.S. dollar, despite strong exports, a business lobby said Wednesday.
According to the Federation of Korean Industries, major business sectors like automobiles, electronics and semiconductors are expected to enjoy brisk business conditions in the April-June period.
ARROYO PRAISES SUBIC, CLARK EXECS FOR DEVELOPMENT PJTS
SUBIC BAY FREEPORT - Philippine President Gloria Macapagal-Arroyo gave high marks to the prime movers of the development projects in and around the Subic-Clark corridor in a live television roundtable discussion on Monday.
Top executives of the Subic Bay Metropolitan Authority (SBMA) and Clark Development Corporation (CDC), and the Subic-Clark Alliance for Development (SCAD) project were lauded for doing a good job in implementing development projects designed to position Subic and Clark as a major service and logistics hub of Asia.
AMERICAN SAMOA TO REVIEW GOV'T EMPLOYEES' RETIREMENT FUND OPS
PAGOPAGO - American Samoa's Senate Economic Development Committee is set to review operations and financial reports of the multi-million Government Employees' Retirement Fund, Radio New Zealand International reports.
The Senate President said the Retirement Fund is a very critical issue because the fund is being used by the government as a loan source or collateral for a loan and there is concern as to the impact this will have on current and future retirees.
PAKISTAN'S MONTHLY EXPORT UP 10 PCT IN A YEAR
KARACHI - The export from Pakistan during February 2006 amounted to...
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